monday, july 6, 2015 (new)

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Depletion of ECA cause of Nigeria’s fi nancial crisis –FRC

L-R: Former Head of State, Abdulsalami Abubakar; former Military President, Ibrahim Babangida and former Senate President, David Mark, during the graduation ceremony of El - Amin School in Minna, Niger State, at the weekend. PHOTO: NAN

GEORGE OJI, TORDUE SALEM, INUSA NDAHIA AND UBONG UKPONG

Six persons have been killed in a suicide at-tack on Redeemed

Christian Church of God in Potiskum, Yobe State.

State Police Public Re-lations Officer, PPRO, Mr. Toyin Gbadegesin, said in

Fiscal Responsibility Commission, FRC, yesterday said it was

in the interest of states to allow the Excess Crude Account, ECA, achieve the purpose for which it was

created.Acting Chairman, FRC,

Mr. Raymond Omachi, made this known in Abuja during an interactive ses-sion with journalists.

Omachi said ECA was

established in 2004 to pro-tect the yearly budget against shortfalls due to volatile crude oil prices.

He regretted that funds from the account were not

Vol. 5 N0. 1149 Monday, July 6, 2015 N150National Mirror Online @NationalMirror

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Updated June 12, 2015

MONDAYS TO FRIDAYS

SATURDAYS

SUNDAYS

DESTINATION FLT NO DEP ARR STOPS A/C

ABUJA TO LAGOS

VL2101 0900 1015 0 B737

VL2105 1400 1515 0 B737

VL2103 1500 1615 0 B737

VL2119 1630 1745 0 B737

VL2107 1830 1945 0 B737

ABUJA TO YOLA VL2102 1050 1200 0 B737

ACCRA TO LAGOS VL0204 0800 1000 0 B737

VL0206 1740 1940 0 B737

ENUGU TO LAGOS VL2117 0930 1040 0 B737

LAGOS TO ABUJA VL2100 0700 0815 0 B737

VL2102 0850 1005 0 B737

VL2104 1200 1315 0 B737

VL2118 1430 1545 0 B737

VL2106 1630 1745 0 B737

LAGOS TO ACCRA

VL0203 0715 0715 0 B737

VL0205 1700 1700 0 B737


ABUJA TO LAGOS

VL2101 1000 1115 0 B737

VL2105 1400 1515 0 B737

VL2103 1500 1615 0 B737

ABUJA TO YOLA VL2102 1050 1200 0 B737

ACCRA TO LAGOS VL0204 0800 1000 0 B737


LAGOS TO ABUJA VL2100 0800 0915 0 B737

VL2102 0850 1005 0 B737

VL2104 1200 1315 0 B737

LAGOS TO ACCRA VL0203 0715 0715 0 B737


ABUJA TO LAGOS

VL2109 1230 1345 0 B737

VL2119 1630 1745 0 B737

VL2103 1730 1845 0 B737

VL2107 1830 1945 0 B737

ABUJA TO YOLA VL2102 1355 1505 0 B737

ACCRA TOLAGOS

VL0204 0800 1000 0 B737

VL0206 1740 1940 0 B737

21, OLOWU STREET, IKEJA, LAGOSwww.medviewairline.com

01-4540927/8

LAGOS TO ENUGU VL2116 0730 0840 0 B737

LAGOS TO PHC VL2110 1130 1240 0 B737

LAGOS TO YOLA VL2102 0850 1200 1 B737

PHC TO LAGOS VL2111 1320 1430 0 B737

YOLA TO ABUJA VL2103 1300 1410 0 B737

YOLA TO LAGOS VL2103 1300 1615 1 B737


LAGOS TO PHC VL2110 1130 1240 0 B737

LAGOS TO YOLA VL2102 0850 1200 1 B737

PHC TO LAGOS VL2111 1320 1430 0 B737

YOLA TO ABUJA VL2103 1300 1410 0 B737

YOLA TO LAGOS VL2103 1300 1615 1 B737


LAGOS TO ABUJA

VL2108 1030 1145 0 B737

VL2102 1200 1315 0 B737

VL2118 1430 1545 0 B737

VL2106 1630 1745 0 B737

LAGOS TO ACCRA

VL0203 0715 0715 0 B737

VL0205 1700 1700 0 B737


LAGOS TO PHC VL2110 1130 1240 0 B737

LAGOS TO YOLA VL2102 1200 1505 1 B737

PHC TO LAGOS VL2111 1320 1430 0 B737

YOLA TO ABUJA VL2103 1545 1655 0 B737

YOLA TO LAGOS VL2103 1545 1845 1 B737


Okonjo-Iweala

6 die as suicide bomber hits Redeemed church in Yobe

Military to set up more court martial to check indiscipline –Minimah P.4

Again, CBN threatens to sanction foreign currency traffi ckers

BUSINESSTHE SECTION

Attfct P.2

Free inside

Gunmen kill 30 in Zamfara600 insurgents killed in one month as troops intensify offensive

Damaturu, the state capi-tal, that the dead included the suicide bomber.

“A male suicide bomber detonated a bomb at Re-deemed Christian Church of God in Jigawa area of Potiskum, killing five on the spot.

“A female member of the church, who sustained injuries, also died while re-ceiving treatment in hospi-tal,” Gbadegesin said.

According to him, others who sustained injuries in the attack were receiving treatment at various health facilities in the area.

The bomber was alleged to have entered the uncom-pleted Church at 9:55a.m and detonated his explo-sives, killing the worship-pers, including a woman and her two children as well as the pastor.

“Four worshippers died instantly, while the fifth victim gave up shortly after she was taken to hospital.

“The victims included a woman and her two chil-dren, the pastor and an-other worshipper,” a police officer said.

An eyewitness, Garba Manu said the bomber ar-rived the church on a mo-torised rickshaw disguised as a worshipper and deto-nated his explosives as soon as he entered the building.

“I saw when the bomber alighting from a motorised rickshaw and entering the church and as soon as he entered a loud explosion ripped through the church which is under construc-tion..

“I saw him walked into the church and he didn’t raise any suspicion. Five worshippers, including three females and two males were in the church when the bomber entered and they were all killed,” he added.

“The dismembered body of the bomber was also re-covered,” said Manu, who lives in the area.

In Zamfara State, no fewer than 30 persons have been reported dead follow-ing fresh attacks by gun-men in Birnin-Magaji Lo-cal Government Area.

Chairman of the Coun-cil, Alhaji Muhammad Gusami, told newsmen yesterday that the attacks took place in Kokeya and Chigama villages.

Gusami said the gun-men invaded Kokeya vil-

lage with motorcycles and killed two persons, set some houses ablaze and carted away animals mostly cows.

He said that the incident had been reported to the Divisional Police Officer of Birnin-Magaji as well as soldiers on surveillance of the zone.

According to him, while this was going on, the at-tackers returned the next day and invaded the neigh-bouring village of Chiga-ma.

“The gunmen, however, killed more than 30 per-sons, whose bodies were still being recovered from the bush,” he said.

The chairman said the corpses have been taken to Birnin-Magaji General Hospital.

He said the Chigama at-tack took place shortly after three police trucks just left the area when they noticed that peace had returned.

He added that the armed

bandits also set several houses on fire on their sec-ond attack on Chigama vil-lage.

Malam Ibrahim Sani, an eyewitness, also told news-men that the gunmen who invaded Kokeya came while the villagers were closing from their prayers.

“The attackers shot spo-radically in the air which prompted the people of Chigama to intervene.

“That may have pro-voked the gunmen to come back so as to punish Chiga-ma people for trying to pre-vent the attack the previous day.

“While three persons were killed from Kokeya and Chigama on the first day in Kokeya, more than 50 were killed on the second day in Chigama while sev-eral houses were burnt,” said Sani.

Police Public Relations Officer, Sanusi Amiru, who confirmed the attack,

said police and army have moved to the area and nor-malcy had been restored.

Meanwhile, more than 600 Boko Haram terrorists have been killed in the last one month by troops.

A top security source, which confirmed this yes-terday, revealed that while the terrorists have engaged in guerrilla tactics of using vulnerable girls and young men for suicide attacks on soft targets, the military had ensured that Boko Ha-ram fighters do not escape, as they continue to meet their waterloo in the hand of the troops.

The terrorists, in their desperation to create fear among the citizens, were said to now deliberately tar-get remote villages where their former members who had renounced the sect membership were taking refuge.

“The major challenges we face is that of suicide

bombers who might be op-erating with insiders with-in the communities. There is no way we can identify potential terrorists or sui-cide bombers from their faces or movements. Some of them look as innocent as new born babies,” the source said.

The officer urged resi-dents to muster the cour-age by exposing suspects, strange objects or move-ments to the relevant au-thorities for prompt ac-tions.

He added that since the emergence of President Muhammadu Buhari, no single territory is being oc-cupied or proclaimed by the terrorists as their ‘Caliph-ate’ even as their leaders are either being killed, cap-tured or on the run.

Another senior military source disclosed that both the army and air force per-sonnel were not relenting in the battle to rid the re-

gion of terrorism and are daily dealing ruthlessly with the enemies by killing them and destroying their vehicles, especially in re-cent operations.

It was however learnt also that relentless cam-paign against the military by Amnesty International (AI) was a serious nuisance as it dampened troops’ mo-rale.

“Nonetheless, very se-nior officers and military psychologists have revved up their efforts in assur-ing combatants that AI re-ports were meant exactly to achieve that same nega-tive objective of dampening morale and so, they must never allow the enemies of Nigeria to win,” a source disclosed.

President Buhari yester-day condemned the Potis-kum church attack.

A statement issued by his Special Adviser on Me-

Again, CBN threatens to sanction foreign currency traffi ckers

6 die as suicide bomber hits Redeemed church in Yobe CONTINUED FROM PAGE 1



Nigerian troops deployed in a local community in Borno after a suicide bombing, at the weekend.

TOLA AKINMUTIMI

Central Bank of Nige-ria, CBN, yesterday warned trans-border

traffickers in foreign cur-rency to stop such acts of economic sabotage or face the full weight of the law.

The warning was in fur-therance of its monetary policy measures aimed at curbing abuses, particu-larly in making sure that the naira exchanges for its real value in the foreign ex-

change market.The bank, in a statement

issued by its Director, Cor-porate Communications, Ibrahim Mu’azu, expressed serious concern over the in-creasing trafficking of huge sums of foreign currency across Nigeria’s borders, pointing out that such prac-tice is in outright violations of the relevant provisions of the Money Laundering (Prohibition) Act 2011 (as amended).

Specifically, the bank cited the provisions of Sec-

tion 2 (subsection 3-5) of the Money Laundering (Prohi-bition) Act 2011 (as amend-ed) to justify its position on the activities, warning the public of its determination to monitor, investigate and make currency traffickers face appropriate sanctions.

It stated: “This practice is in defiance of the extant dictates of Section 2 (subsec-tion 3-5) of the Money Laun-dering (Prohibition) Act 2011 (as amended) which categorically states that:

“Transportation of cash

or negotiable instruments in excess of $10,000 or its equivalent by individuals in or out of the country shall be declared to the Nigerian Customs Service.

“The Nigerian Customs Service shall report any declaration made pursuant to subsection (3) of this sec-tion to the Central Bank of Nigeria.

“Any person, who falsely declares or fails to make a declaration to the Nigerian Customs Service pursuant to section 12 of the Foreign

Exchange (Monitoring and Miscellaneous Provisions) Act, F34, LFN, 2004 is guilty of an offence and shall be liable on conviction to for-feit the undeclared funds or negotiable instrument or to imprisonments to term of not less than 2 years or to both.

“The general public is hereby informed that upon receipt of any notice of dec-laration from the Nigerian Customs Service, the CBN will investigate the source

National Mirror www.nationalmirroronline.net2 Monday, July 6, 2015News

DID YOU KNOW?Vaccine for HIV prevention discoveredLack of sleep decreases self-control

FRANKA OSAKWE

Contrary to popular belief that swim-ming pools treated with chlorines are safe and free from toxins, recent

research has just discovered that Sodium hypochlorite and similar chlorine com-pounds used in treating pool water can cause liver and kidney cancer, severe infec-tions as well as death.

The research conducted by America’s Center for Disease Control and Prevention (CDC), revealed that these chemicals re-act with organic material (such as urines, feaces, sweat from swimmer’s body) to form toxic substances that later develop into a number of diseases in humans. It listed the most common diseases incurred from chlorinated water to include respiratory defects, eye and skin infections, gastroin-testinal defects, neurological dysfunctions and injuries of the kidney and liver. It also linked excessive exposure to chlorine com-pounds to kidney and liver cancers.

The research also discovered that chlo-rine does not kill all germs in the water and swallowing just a little water that contains these germs can cause sickness. In the past two decades, there has been a substantial increase in the number of infections associ-ated with swimming. The most commonly reported is diarrhea. Diarrheal illnesses are caused by germs such as Crypto (short for Cryptosporidium), Giardia, Shigella, norovirus and E. coli O157:H7.

Crypto, which can stay alive for days even in well-maintained pools, has become the leading cause of swimming pool-related outbreaks of diarrheal illness.

Few days ago, Reno Gazette Journal published the story of a 21-year-old woman from California, who died from an infec-tion called primary amoebic meningoen-cephalitis (PAM) which she contracted af-ter going swimming in Reno, Nevada. The woman woke up from a nap on June 16 with symptoms including a headache, nausea and vomiting. Few days later her condition deteriorated until she suffered a cardiac ar-

An experimental vaccine that could prevent HIV infection has been dis-covered. The vaccine completely

prevented HIV infection in half of monkeys given the jab, a new study found.

The monkeys were given the vaccine and then exposed to high doses of an aggressive virus that is the equivalent of HIV in humans.

The results were so positive they spurred Johnson & Johnson to test the vaccine in people.

The international trial is underway in 400 healthy volunteers in the United States, East Africa, South Africa and Thailand.

It is the first time since Merck’s failed 2007 trial that a major pharmaceutical company has sponsored clinical development of an HIV vaccine, said Dr Dan Barouch, a vaccine re-searcher at Beth Israel Deaconess Medical Cen-

Poor sleep habit can affect a person’s ability to make decisions, leading to impulsive and inattentive behaviour,

scientists warned.This habit can have serious effects on

their personal and professional lives, they said.

‘Self-control is part of daily decision-making. When pre-sented with conflicting desires and opportunities, self-control allows one to maintain control,’ said co-author Professor June Pilcher, of Clemson University in South Carolina.

‘Our study explored how sleep

Monday, July 6, 2015National Mirror

www.nationalmirroronline.net

Good Health

PAGE3

ter and the Ragon Institute of Massachusetts General Hospital, MIT and Harvard.

Some 35 million people are infected with HIV, the virus that causes AIDS.

Since it began spreading 30 years ago, AIDS has killed 40 million people worldwide.

Despite progress in treatments, experts believe a vaccine is the best hope for eradi-cating the disease.

In a pair of studies Dr Barouch and colleagues at Johnson and Johnson and elsewhere tested a two-step vaccine, which involves priming the immune system us-ing a weakened version of the cold virus to sneak HIV genes into the body.

habits and self-control are interwoven and how sleep habits and self-control may work together to affect a person’s daily functioning.’

Previous research has shown individuals working in today’s 24-hour-a-day global econ-

omy often times sleep less or at irregular times, result-ing in poor sleep and pro-longed sleep deprivation, which affects decision-making.

‘Exercising self-control allows one to make better choices when presented with conflicting desires and opportunities.

Beware! Public swimming pools contain harmful toxins…May cause illnesses, death

rest and died.Aside from contracting germs, fatal ill-

ness can also develop after heavy exposure to chlorinated water. According to the CDC research, 2% of the total victims of chlori-nated water suffered from severe liver and kidney infections. Risks of renal cancer due to chlorinated water were highlighted by the researchers at the Harvard Univer-sity School of Public Health some years back. The report estimated that these dis-infectants are causing at least about 10,700 cases of kidney cancers every year. This figure also estimated that the number of cases will rise continuously, if adequate measures are not taken.

To analyze the scope of damage from water disinfectants, America’s National Institute of Environmental Health Sci-ences tested trihalomethanes, an impor-tant unit of water disinfectants on rats. The chemical was mixed in their food. A large number of rats developed colorectal

and renal cancer while others developed kidney and liver infections from the toxic food.

Subsequent research corroborated the fact that chlorinated water causes poten-tial health risks to people.

Again, the CDC notes that when chlo-rine binds with sweat, urine, and other waste from swimmers, air irritants in-crease. Depending on the concentration and how long a person is exposed to them, everything from asthma ag-gravation and skin problems to neurological problems and diarrhea can de-velop.

However, the problem goes beyond inhal-ing air irritants.

Researchers from Purdue University say that swimming in a public pool is a health concern because of the multiple ways people can absorb infections; through in-halation, ingestion and skin absorption. Furthermore, they explained that chemi-cals in makeup, insect repellants and sun-screens also make their way into the pool environment, increasing a person’s expo-sure to health-aggravating compounds.

“You can inhale, you can ingest and it can go through your skin. So the exposure you receive in a swimming pool setting is potentially much more extensive than the exposure you would receive by just one route alone. These factors can compound existing health problems or potentially play a role in the onset of new ones,” says Ernest R. Blatchley, a professor at the Di-vision of Environmental and Ecological Engineering at Purdue University.

On the solution to this mounting is-sue, Michele Hlavsa, chief of the CDC’s Healthy Swimming Program has advised that swimmers need to take an active role in protecting themselves by observing hy-giene in the pool. “Swimmers should use the pool to swim, the restroom to pee and the showers to wash up before getting in the pool, “he says.

If you are living with diabetes, you are invited to come for a free diabetes foot screening. To book an appointment and more details, please call 07042196808, 012950233. This diabetes foot care initiative is sponsored by Rainbow Specialist Medical Centre and the World Diabetes Foundation.

PREVENTING DIABETES FOOT AMPUTATIONS

Swimming pool casualties

National Mirror www.nationalmirroronline.net4 Monday, July 6, 2015Photo News

Ubong UkpongABUJA

Chief of Army Staff, COAS, Lt-Gen. Ken-neth Minimah, yes-

terday said more court martial would be set up by the military to check indiscipline among troops operating in the North-East.

He also said he has no regrets securing death penalty for some of his soldiers, who are waiting to die by firing squad.

Minimah, who spoke at the Inter-denominational church service to mark the Nigerian Army Day celebration, NADECL 2015, in Maiduguri, Borno State, warned troops in the ongoing military op-erations against Boko Ha-ram insurgents to fight or risk facing court martial over mutiny, which pen-alty was death.

Already, over 65 sol-

timent and such, showed cowardice.

The Army Chief, who noted that such cowards did not have genuine mo-tives for joining the army, said while some of them en-listed in order to own prop-erties, others joined for em-ployment, but not to fight.

He stressed that any sol-ider, who cannot fight for his country should not ex-ist, adding that the oath of allegiance of the military commands state that a sol-dier should fight, and if the need arises, lay down his life for his fatherland.

Minimah appealed to Nigerians to be patient, adding that the fight against terrorism would soon be over.

He said the choice of Maiduguri for NADCEL was to identify with the government and people of Borno, Yobe and Adama-

diers have been convicted and sentenced to death by the General Court Mar-tial, GCM, over offences of mutiny, insubordination, disobedience to consti-tuted authorities amongst others.

The soldiers are pres-ently under incarceration awaiting the confirmation of their death sentence by the Army Council, to en-able them go on appeal.

But the Army Chief said that he had no op-tion than to try them for betraying the country and its army.

Minimah warned troops to exercise re-straint in their behav-iours and actions, noting that he was not tired of setting up court martial, not minding who, or how many more people would die for betraying the army.

“I must set up court

wa states and the entire northern region, that the army shared their pains.

Besides, he said the cel-ebration in Maiduguri, would boost the morale of troops operating there.

He also spoke on the Presidential directive to remove military check points across the country.

But, according to him, not all such check points and road blocks would be removed.

“Indeed, we will re-establish some that were erstwhile removed like in the South-East and some of the South-South areas where kidnapping and ransom exist.

“So the road blocks and check points will remain in certain areas.

“And in the areas where they cause hardship for citizens we are taking steps to ensure that they

martial and if you are in my place and you did noth-ing, you are not worth be-ing a Chief of Army Staff, I did that I have no regret.

“I am setting up more court martial to try people who ran, show cowardice, abandoned troops and equipment and ran away.

“Why are you in the army? Is that army? That is not the army,” he said.

Minimah said the army was taking all proactive measures to restore sanity and battle confidence in troops, stressing that the court martial was there to try officers and soldiers, who ran away from battle front, to serve as a deter-rent to others

He regretted that some officers and soldiers took the role of saboteurs, be-lieving that the war was not to be fought and also believing in the war sen-

are presented in such a way that citizens experi-ence less hardship,” he said.

On his part, Rev. Father Charles Ireogbu, Chap-laincy, Roman Catholic Army, said vision was im-portant as this can help overcome challenges and bring success.

Taking his text from Joshua 1 verses 1 to 16, the cleric said it was when there was vision that things can be done well and success would be achieved.

“We must see God as our own weapon of victo-ry, there are weapons but without God victory is not possible,” he said.

He urged all members of the armed forces to pray to God for them to overcome and come out of the fight against Boko Ha-ram successfully.

Military to set up more court martial to check indiscipline –Minimah

…says no regrets over soldiers sentenced to death

L-R: Grace Henshaw, Airtel Nigeria; Regional Operations Director, Lagos region, Airtel Nigeria, Femi Oshinlaja; Divisional Head, Bank wide operations, Keystone Bank, Uchenna Okwodu; Divisional Head, Telcoms, Yetunde Jayesimi, and Head, Retail shops and franchise, Airtel Nigeria, Tolulope Tope Awofeko, at the Airtel-Keystone collocation in Lagos, at the weekend.

L-R: Relationship Manager, International Remittances, Personal/Business Banking (PBB), Stanbic IBTC Bank, Mr. Olumuyiwa Akintolu; Head, Franchise Collections, PBB, Stanbic IBTC Bank, Mr. Solomon Olufemi; promo winners, Mr. Yinka Fagbohun and Mrs. Maureen Okonkwo, and Assistant Marketing Manager, Western Union, West Africa, Mr. Ebere Nwaolikpe, at the prize presentation ceremony of Western Union 20th anniversary promo in Lagos, at the weekend.

L-R: Guest Speaker, Chief Imam, University of Abuja, Prof. Taofeek AbdulAzeez; Ogun State Deputy Governor, Mrs. Yetunde Onanuga; Governor Ibikunle Amosun, and Speaker, House of Assembly, Rt. Hon. Suraj Ishola Adekunbi, during the State’s Ramadan Iftar, tagged Sustaining the Gains of 2015 Elections: Muslims on Call, at Arcade Ground, Oke-Mosan, Abeokuta, at the weekend.

National News

L-R: Executive Director, Large Scale Enterprises, Alhaji Mohammed Goni Alkali; Chairman, GVE Projects Ltd, Mrs. Gloria Chukwudile; Managing Director, Armergy Solar Ltd, Mr. Femi Adeyemo; Managing Director/CEO, Bank of Industry (BoI), Mr. Rasheed Olaoluwa; Managing Director, GVE Projects Ltd, Mr. Ifeanyi Orajaka and Executive Director, Small and Medium Enterprises, BoI, Mr. Waheed Olagunju, during presentation of cheques to the bank’s solar energy customers in Lagos, at the weekend.

being spent according to the purpose for which the ECA was created.

He frowned at the prac-tice of the Federal Govern-ment paying subsidy from the ECA or to share to states, when available funds are not adequate to meet revenue projections.

Omachi said the FRC Act stated that savings from the ECA should not be accessed until oil price falls below the predetermined level for a period of three consecu-tive months.

He said the sum accessed should be limited to the amount that would bring the revenue of government to the level contained in its budget estimates.

Omachi, supported by the commission's manage-ment team, said also that the other acceptable with-drawal from the ECA was to fund capital projects.

He said that over the years, the commission had

noticed withdrawal that was contrary to this and had raised alarm severally at the way the ECA was be-ing brazenly depleted.

“If the ECA had been properly managed, in accor-dance with the FRC act, the country will not have been embroiled in the liquidity crisis being presently expe-rienced.

“In essence, the non-com-pliance with the relevant sections of the Fiscal Re-sponsibility Act, 2007, is the cause of the financial man-agement problem being ex-perienced by the country in the light of the sliding oil price.

“If the account had been intact, the effect of declin-ing oil price will have been accommodated with the ECA buffer to finance the budget,” he said.

The Commission’s Head, Planning, Research and Statistics, Hajiya Maryam Mohammed, said there was need for synergy between

National Mirrorwww.nationalmirroronline.net 5Monday, July 6, 2015 News

dia and Publicity, Femi Ad-esina, said the President received the news with sadness and deeply regret-ted the loss of lives in the attack.

He commiserated with all those who lost loved ones in the incident, which also caused needless injury to others and damage to the church building.

“The President wholly condemned the resumption of attacks by terrorists on places of worship which are highly revered places of prayer and communion with God for most Nigeri-ans.

“Nigerians are a very religious people and Presi-dent Buhari believes that the terrorists who wan-tonly attack places of wor-ship have willfully declared war on all that we value, and must therefore be con-fronted with all our might and collective resolve,” the statement said.

The President reaf-firmed his administra-

tion’s total commitment to doing everything possible to eradicate terrorism and mindless extremism from Nigeria in the shortest pos-sible time.

He assured Nigerians that terrorism would ul-timately be defeated and full security restored in all parts of the country for people to safely practice their respective faiths with liberty wherever they may reside in the nation.

In a related development, Senate President, Bukola Saraki and Speaker, House of Representatives, Yakubu Dogara, said the country would not succumb to the antics of terrorists.

Both men spoke yester-day against renewed on-slaught on innocent Nige-rians by the Boko Haram terrorists.

Saraki, in a statement in Abuja condemned the bomb attack on the Redeemed Church in Potiskum.

The senate president de-scribed the attack as “un-godly, sadistic and evil act.”

“Sending Nigerians to untimely grave can never be the solution to any reli-gious, political or economic grievances.

“Besides, the Federal Government has demon-strated enough political will to engage any group in dialogue aimed at bringing these vicious and sad at-tacks to a final stop.

“The recent position of the Federal Government that it would not oppose negotiation with the insur-gents ‘if the Boko Haram terrorist group opts for it’ ought to be seen as an ol-ive branch extended to the sect by the present admin-istration. And I urge them to take advantage of that opportunity to drop their weapons,” he said.

In his own reaction, Dog-ara said the country and the citizenry won’t be cowed by the activities of the terror-ists.

He regretted the mass killings and bombing of churches and mosque by the insurgents in a state-

ment issued by his Special Adviser on Media and Pub-lic Affairs, Turaki Adamu Hassan.

He advised Nigerians not to give in to the ploy of the terrorists to intimidate through mass and inces-sant killings of hapless citi-zens.

He also condemned yes-terday’s bomb attack in Potiskum, describing it as “barbaric, inhuman and wicked.”

The said as men of faith, Nigerians should not lose hope in the ability of gov-ernment to defeat the Boko Haram monster.

“I want to call on all men and women of faith, Chris-tians and Muslims alike to intensify prayers to God as Nigeria is in dire need of di-vine intervention from the al-mighty God to overcome this.

“With God on our side, there is no challenge that is insurmountable. I have strong conviction in my heart that this too, shall pass away,” the Speaker said.

the Federal Ministry of Fi-nance, Budget Office, Office of the Accountant-General of the Federation and FRC.

Mohammed said this would enable efficient monitoring and control of all revenue generation and expenditure in the country.

She said it was lack of synergy that has created loopholes where revenue generating agencies prac-

tice creative accounting in order to short-change the government.

Also speaking, the Head, Monitoring and Evalua-tion, FRC, Mr. Ola Tijanni, said the recommendation of the Oransaye report and the White Paper approval to scrap FRC was hampering the work of the commis-sion.

“The FRC has been mon-

itoring schedule corpora-tions in the area of prepara-tion of MTEF, rendition of audited accounts and pay-ment of 80 per cent of their operating surplus to the government consolidated revenue fund.

“In 2013, due to accep-tance of government to scrap the FRC, remit-tances of operating sur-plus rather than increase,

dropped drastically as most agencies are no lon-ger disposed to cooperat-ing with the FRC.

“In light of the fore-going, we make bold to suggest that rather than being scrapped, the FRC should be strengthened and empowered to dili-gently enforce the provi-sion of the FRC Act,” he said.

L-R: Speaker House of Reps Hon. Yakubu Dogara; Emir of Kano HRH Muhammed Sanusi, and Hon. Abike Dabiri at the 239 Independent anniversary of United State of America in Abuja on Saturday.

6 die as suicide bomber hits Redeemed church in Yobe

Again, CBN threatens to sanction foreign currency traffickers

CONTINUED FROM PAGE 2



Depletion of ECA cause of Nigeria’s financial crisis –FRC

of fund and seek justifica-tion for the possession of such volume of cash to en-sure that no money launder-ing activity is involved.

“Those affected will also be expected to provide evi-dence of payment of taxes and duties related to the cash transaction,”

To ensure that those caught violating the extant provisions of the money laundering law were not left unpunished, the bank stated that in collaboration with other relevant regulatory and security agencies, it will promptly apply appropriate sanctions and penalties for contravention of the provi-sions of the Act.

It would be recalled that the past few weeks have seen the CBN introducing sundry measures aimed at naira exchange rate stabil-ity with the attendant impli-cations for efficient manage-ment of foreign exchange markets.

The bank, last Friday, also directed licensed Bu-reaux De Change, BDCs, not to fund import transactions recently classified “Not Val-id for Foreign Exchange” in any of the segments of the foreign exchange market.

It stated that the clarifica-

tion became imperative in order to address the problem of public misunderstanding arising from its circular in respect of affected items and the need to keep the public properly informed about the contents of the circular.

According to the bank, the misconception has to do with the fact that some im-porters believe that they can access Bureau De Change (BDCs) segment for funding of those classified items.

“For the avoidance of doubt, the Central of Nige-ria has directed that BDCs are not authorised to fund import transactions in any form whatsoever, either by cash or wire transfer. “Ac-cordingly, authorised deal-ers are hereby barred from effecting wire transfers from the account of their BDCs’ customers hence-forth.

“BDCs are only autho-rised to deal in foreign cur-rency cash and to sell not more than $5000 to an indi-vidual customer and strict-ly for the following transac-tions: i) Business Travel/Personal Travel Allowance ii) Monthly mortgage pay-ment iii) School fees abroad iv) Credit card payment v) Utility bills vi) Life insur-ance premium payment”, it added.

National Mirror www.nationalmirroronline.net6 Monday, July 6, 2015 News

Chief of Army Staff, Lt.-Gen. Kenneth Minimah (right), presenting ‘Sword of Honour’ to the best cadet, Emmmanuel Nwanchukwu, during the passing-out parade of cadets of the Direct Short Service Commission Course 22/2015 in Jaji, Kaduna State, on Satur-day. PHOTO: NAN

...says APC plans to use INEC, police to remove him •It’s a lie –APC

OLUFEMI ADEOSUN ABUJA

Indications that the fes-tering leadership cri-sis bedeviling Nigeria

Labour Congress, NLC, may soon be resolved emerged at the weekend as factional leader, Joe Ajaero, expressed readi-ness to return to the rec-onciliatory table.

Comrade Ajaero leads a group of NLC that was disenchanted with the outcome of election that brought Comrade Ayuba Wabba into office.

All efforts to resolve the leadership crisis since then has not been success-ful, as the NLC declared the Ajaero group an im-postor and disowned them last week.

Ajaero in an interview with journalists in Abuja, however, insisted that al-though he was ready for peace in the fold of the umbrella body of Nigeri-an workers, he would not subscribe to the “peace of the graveyard.”

He gave assurance that he would make himself available for any genuine reconciliatory move in the interest of Nigerian workers.

Ajaero, who is also General Secretary of Na-tional Union of Electric-ity Employees, NUEE, maintained that the only option to the leadership crisis in NLC was peace-ful resolution through genuine discussions and negotiations, rather than litigations.

He, however, stated that for genuine reconciliation to take place, all parties must submit themselves to the terms of such peaceful resolution.

The way out of the cri-sis, according to him, is to have a genuine meeting between his peace com-mittee and that of Wabba, as well as the committee being championed by the veterans to discuss the re-ality of ground.

It will be recalled that the Wabba-led NLC has instituted a court action against the Ajaero group.

But Ajaero said he was open to peace and ami-cable resolution of the crisis, while still claiming that he won the Eagles Square election but was deliberately rigged out to pave way for Wabba.

He said: “I want peace in Nigeria; I want peace in the labour movement. I am an apostle of peace, but not peace of the grave yard, not peace at all cost. Things must be done properly. Like I say any time I am called, I will ap-pear to give my account of what transpired up to this moment.

“So, depending on the political will of the people trying to drive the peace process, they may find the solution. If not, instead of us to work together and suffocate, we will continue to work apart or side-by-side so that we will survive.”

Ajaero pointed out that he had always made him-self available to give ac-count of what transpired, stressing that both peace committees and that of veterans would ensure a united NLC.

“I have made myself available and can step aside for genuine recon-ciliation to take place. That is why I said I have a peace committee which I am not a member; they can meet with this other committee together with that of the veterans to come out with conditions that are acceptable based on reality on ground. We will fall in-line with this, but not anyone dictating (to us).”

He explained that since the 11th delegate confer-ence of the congress that caused division in the movement, there has been no sincere reconciliatory move by the Wabba group, adding that what they have noticed is rather de-ception and lies.

He added: “I want peace but I don’t want peace of the graveyard, and enough of deception. It is not all about NLC. Let me tell you, there is no law that says we can-not operate outside NLC, but we are NLC and we remain NLC, and nobody can tell us we are not NLC or don’t have the right to organise ourselves or or-ganise conference of our own if the other confer-ence is not properly con-ducted.”

Ajaero lamented the crack in the movement and called for urgent move to resolve the situa-tion in the interest of Ni-gerian workers.

PDP alleges threat to Ekweremadu’s life

NLC crisis: I’m committed toreconciliation, says Ajaero

OBIORA IFOH ABUJA

Peoples Democratic Party, PDP, has cried out against alleged

threat to the life of Dep-uty Senate President, Ike Ekweremadu.

Briefing newsmen yes-terday at the party’s nation-al secretariat on the topic, ‘We are under attack,’ PDP spokesman, Olisa Metuh, said there was clear and present danger to the lives of key opposition leaders in Nigeria.

“In the last few weeks, key PDP members have become an endangered group for playing their op-position role in providing constructive criticisms to the ruling party in their apparent lack of capacity to get organised and form a government; their interfer-ence in the activities of the National Assembly and de-mand for implementation of their campaign prom-ises to Nigerians.

“As we address you to-day, some key leaders of our party have been under threat since the emergence of the National Assem-bly’s leadership, which did not go the way of the APC leadership, particularly the election of PDP’s Senator Ike Ekweremadu as Depu-ty Senate President.

“The leadership of PDP has been made aware of var-

ious threats to life and other forms of intimidation and blackmail against Senator Ekweremadu from the APC.

“As you may know, the APC leaders have not hid-den their bitterness and re-sentment towards Senator Ekweremadu whose offence

is the privilege of being elect-ed by his colleagues (APC and PDP senators alike) as Deputy Senate President in line with the Standing Rules of the Senate and provisions of the Constitution of the Federal Republic of Nige-ria,” he said.

Metuh also noted that key members of APC have gone to the extent of using security, judges and officials of the Independent Nation-al Electoral Commission, INEC, to cook up allegations to remove Ekweremadu from his position.

Monday, July 6, 2015National Mirrorwww.nationalmirroronline.net 7

National Mirror www.nationalmirroronline.net8 Monday, June 6, 2015South West

Kemi Olaitan IBADAN

With the tenure of Vice Chancellor of the University

of Ibadan, Prof. Isaac Folo-runso Adewole, coming to an end before end of the year, no fewer than 12 pro-fessors are now battling to become vice chancellor of

12 professors battle for UI VC’s seat

Lagos APC: Tribunal’s verdict expected

How Jonathan’s govt extorted us with SURE-P –Job seeker

Lagos lawmakers back Ambode over cabinet delay

Governor Akinwun-mi Ambode’s vic-tory at the Lagos

State Election Petitions Tribunal didn’t come as a surprise,” the state’s chap-ter of the All Progressives Congress, APC, has said.

The party said the ver-dict confirmed that Lago-sians voted for good gov-ernance and continuity in the Centre of Excellence.

Reacting to the verdict through a statement by its publicity secretary, Mr. Joe Igbokwe, the APC described the verdict as a huge testi-mony that Lagosians know their leaders and their lead-ers know them.

The statement reads: “The Peoples Democratic Party, PDP, in Lagos said it did everything to win Lagos, including setting one ethnic group against the other; dishing out mil-lions of dollars and pound sterling, unleashing eth-nic militias like the Oodua People’s Congress, OPC, deploying security agen-cies, SURE-P outlaws, and others to harass and intimidate Lagosians to succumb and surrender Lagos to them.

Francis suberu

A job seeker, who subscribed to the defunct Subsidy

Re-investment Programme, SURE-P, of the Federal Gov-ernment under the Federal Road Maintenance Agency, FERMA, has cried foul over what he tagged extortion by former President Goodluck Jonathan’s administration.

It was gathered from some job seekers, who have been protesting their aban-donment by the past Federal Government that contrary

to promises made to them, the government left office on May 29, 2015, without giving them employment.

Available information from the ‘cheated’ job seek-ers had it that there were more than 10,000 of them in Lagos and each were made to pay up to N79,000 with a promise that they would be given Federal Government jobs.

According to one of them, Ikon Ikuagwu, the train-ees were made to part with various sums of money to buy application forms, iden-tity card capturing, vests, fez

caps and other accessories totaling over N79,000 under the pretext that they would get Federal Government jobs.

He added that for three years, (2012 - 2015), the train-ees were made to undergo paramilitary training by agents of the Federal Gov-ernment and denied any form of salary or allowance but promised that they al-ready secured jobs with the FERMA Task Force.

“We parted with various sums of money because of desperation and joblessness and because we were made to

believe that the programme was real; we saw the logo of the Federal Government and adverts of the programme in certain Nigerian newspa-pers,” he said.

He named certain indi-viduals who are chieftains of the People Democratic Party, PDP, as being respon-sible for the collection of the various sums of money from them, adding that they have resorted to sending Save Our Soul, SOS, messages to the Lagos State House of Assem-bly and Governor Ambode to assist them in salvaging the jobs promised them.

Members of Lagos State House of Assembly have

said the delay by Gover-nor Akinwunmi Ambode to form his cabinet was for the general good of the state.

The lawmakers said the delay has not affected governance and projects’ execution in the state, and that the governor was tak-ing his time to choose the

best hands for the state.According to the law-

makers, who spoke with the News Agency of Nige-ria, NAN, in Lagos yester-day, the governor is being very careful in selection of individuals to manage affairs of the state.

Mr. Adebisi Yuppie (APC-Alimosho 1) said the delay has not in any way affected governance and ongoing projects handed

over to Ambode by his pre-decessor.

On the people’s expec-tations that the governor was going to immediately swing into action, Yusuff said: “The same people will complain if he em-ploys the wrong hands in his cabinet.”

While soliciting pa-tience, he stressed that Lagos is known for integ-rity and hard work, which

should be sustained.In his remark, Mr. Roti-

mi Olowo (APC-Somolu 1), said the governor is work-ing hard to create wealth

and bring foreign invest-

ment to Lagos.According to Olowo, the

state does not deserve in-

competent commissioners

who will not know what

to do after their appoint-ments.

L-R: Chief Imam of Iponri Central Mosque, Alhaji Yisa Elesin Funfun; spiritual father of the day, Chief Imam of Rhidiwan Mosque, Sheik Kareem Alao and Lecturer, Chief Imam of Lagos Mainland Local Government, Abdul Ganny Adeleke, during the 33rd Annual Ramadan Lecture of Sarafat-Ul Islam Society of Nigeria, in Lagos, yesterday.

the institution.It would be recalled that

Adewole whose tenure will lapse in November, has been adjudged to have run a generally peace-ful tenure that is also noted for transforma-tion and maintenance of industrial peace among unions on campus.

National Mirror learnt that of the 12 can-didates jostling to suc-ceed Adewole, only one, Prof. A. Adedeji, is out-side the University of Ibadan.

Eleven other candi-dates, who are staff of the university, include Professors O.O. Layiwo-la (Institute of African Studies), O.O. Akinyin-ka (Pediatrics), F.O. Eg-bokhare (Linguistics and African Languages), Arinola O. Sanya (Phys-iotherapy), B.O. Fagbe-mi (Veterinary Microbi-ology and Parasitology).

Others are Professors L. Popoola (Forest Re-sources Management), A.I. Olayinka (Geology), A.I. Oluleye (Industrial and Production Engi-neering), O.D. Olaleye (Virology), A.E. Falaye (Aquaculture and Fish-eries Management) and A.A. Agbaje (Political Science).

National Mirror also

gathered that two can-didates joined the list having being ‘searched’ despite not applying for the position, but con-sidered qualified for the job.

Chairman of the Uni-versity of Ibadan Com-munity Forum 2015, Prof. Nelson Fashina, while speaking on the development, said the forum put together by all the unions in the university would host a platform during which all the candidates would interact with the univer-sity community towards a democratic emergence of a new vice chancellor.

Fashina, who main-tained that the forum does not have power as to who becomes the next vice chancellor, howev-er, said the interactive platform with the uni-versity community will enable the community listen to the candidates and keep records of the plans or manifestos of whoeveremerges and be able to hold him or her accountable.

He added that all the candidates have been in-vited for the interactive session, noting that the forum was set up to give a level-playing ground to all the contestants.

“Lagos PDP failed be-cause there is no meet-ing point between light and darkness; no meeting point between the seri-ous and the unserious; no meeting point between conservatives and pro-gressives; and no meeting point between performers and non-performers.

“How can you use shoes for hammer? How can you move a car forward by en-gaging the reverse gear? How can you plant cassava and hope to harvest yam? Can a goat give birth to a lion?

“The truth is that La-gos has always been in the hands of the progressives since it was created in 1967 and the strong and dynam-ic Lagos will continue to remain in the hands of pro-gressives for a long time to come.

“The progressives will continue to strive for great-er heights in raising stan-dards not only in Lagos but the whole of Nigeria.”

Igbokwe expressed the ruling party’s felicitation to Ambode, who he de-scribed as the APC torch-bearer in the state.

…says opposition blackmailing Aregbesola

…matriculates 3,928

South WestNational Mirrorwww.nationalmirroronline.net 9Monday, June 6, 2015

Boladale BamigBolaOSOGBO

A federal lawmaker from Osun State, Ajibola Famure-

wa, has accused opposi-tion parties of engaging in “cheap blackmail” over Governor Rauf Aregbeso-la’s inability to pay work-ers’ salaries.

Famurewa, who repre-sents Atakumosa East and Atakumosa West, Ilesa East and Ilesa West Fed-eral Constituency in the House of Representatives, disclosed this to newsmen yesterday in Osogbo.

He said since the issue of non-payment of salaries was first reported, opposi-tion parties have painted a different scenario of what the real situation in the state is to the rest of the world. According to him, Osun financial challenge has been given unneces-sary “media hype; por-traying the state as worse than it appears by opposi-tion parties,” whereas “18 states currently owe work-ers salaries between three and 13 months.”

Famurewa further stat-ed: “There are two states in the North Central that owe nine to 11 months sal-aries. A South East state owes teachers 12 months salaries. In Osun, the lo-cal government workers and teachers are owed four months, and we can au-thoritatively confirm that they will get March and April salaries in a matter of days.

“It is very unfortunate that Osun finds itself in an irritating position of in-ability to pay workers sala-ries despite savings dur-ing the surplus and extra effort of Governor Areg-besola to guide against foreseen economy crisis,

aBiodun nejo ADO EKITI

Federal Polytechnic, Ado-Ekiti, has charged 3,928 new students for

National Diploma, ND, and Higher National Diploma, HND programmes against engaging in acts capable of truncating their academic ca-reer midway.

Rector of the institution, Dr Theresa Akande, urged them to rather avail them-

selves of the wide range of opportunities offered by their being in school, saying: “It is in the interest of your future to protect your name, create a life-long reputation and be a good ambassador of this in-stitution.”

Akande, who spoke at the weekend during the matricu-lation for 2,376 full-time ND students and 1,552 full-time HND students for 2014/2015 academic session, cautioned that the institution would not

18 states owe workers salaries –Rep

Patience ogBo

Inspector General of Police, Solomon Arase, has enjoined police of-

ficers to uphold the rights of Nigerians in the dis-charge of their duties.

Arase gave the charge dur-ing the graduation ceremony of Course 22 graduands at-tached to Lagos State Police Command.

One hundred and twenty policemen graduated in hu-

man rights education and rule of law during the train-ing.

The officers from the ranks of Chief Superinten-dent of Police, CSP, to consta-ble received their certificates after attending a four-month course organised by Crime Victims’ Foundation, CVF, in collaboration with Lagos Po-lice Command.

The IGP was represented at the event by former Lagos State Commissioner of Po-lice, Kayode Aderanti.

He said: “Your training

should reflect in the dis-charge of your duties any-time you come in contact with the public. We expect you will become better po-licemen after this training and imbibe all you have been taught.”

Executive Director of CVF, Barr Gloria Egbuji, said the policemen had received training that would boost the image of the agency.

Egbuji added that 13,000 policemen had attended the training in the last 20 years the programme was launched

in Lagos Police Command. She said: “The scope of

training exposed the officers to the provisions of Chapter 4 of the 1999 Constitution of the Federal Republic of Nige-ria, dealing on fundamental human rights. Officers were also trained on police powers and human rights, UN codes of conduct for law enforce-ment officials; the rights of suspects, victims and wit-nesses, humanitarian laws, Child Rights law, Domestic Violence laws, Interpersonal and communication skills.”

L-R: Founder, Latter Rain Assembly Church, Pastor Tunde Bakare and his wife, Laide; President, Women Arise for Change Initiative, Dr. Joe Okei-Odumakin, her husband, Yinka Odumakin and Youth Pastor, Femi Ojo, cutting cake after thanksgiving sevice as part of activities marking Oke-Odumakin’s birthday in Lagos, yesterday. PHOTO: NAN

‘NASS crisis won’t consume APC’

IGP harps on human rights as NGO trains 13,000 policemen

Ado Poly expels 8 students

ojo oyewamideAKURE

A member of the House of Repre-sentatives, Pastor

Afe Olowookere, has said that efforts would be made to prevent the leadership

crisis rocking the Nation-al Assembly from destroy-ing the All Progressives Party, APC.

He described the crisis as a minor disagreement among members of the same family that would soon be resolved.

Olowookere, who repre-sents Akure North/Akure

South federal constitu-ency, spoke with journal-ists at the weekend after a special thanksgiving ser-vice in Akure, Ondo State capital.

The lawmaker said APC was already on top of the situation, assuring Nigerians that the issue would be over within the next few days or weeks.

He said: “The leader-ship crisis in the National Assembly is not a big deal as many people think. It is

just like the morning dew that will soon evaporate with the sun.

“It may look like a hard nut to crack to some people, but we will allow wisdom, compromise and flexibility of positions to crack it for us in the inter-est of the country and her people.”

Olowookere, who urged Christians to participate in politics to rescue the country from the rot it had been plunged, noted that

it was erroneous to think that politics was dirty.

“Good Christians are running away from poli-tics because they see it as dirty. If you are a Christian or pastor who discourages people from playing politics, but is fond of inviting corrupt public office holders to your church to chair fund-raising programmes, you are a hypocrite.

“By the special grace of God, I will bring my

position as a pastor to bear in the National As-sembly by discouraging my colleagues from doing anything I consider wrong or evil. I will not join the multitude to do evil,” Olo-wookere said.

He promised to give adequate and robust rep-resentation, saying that pressing needs of his con-stituency would be tabled and discussed on the floor of the House with a view to tackling them.

which was engineered by mismanagement of the country’s economy by past administration at the cen-tre.

“It is on record that Aregbesola had been pay-ing workers’ salaries every 25th of each month till late 2014. He could not deliber-ately now deny workers their rightful payments for months.”

He said it was uncalled for to accuse Aregbesola of mismanaging the resourc-es and accruable funds to the state, which resulted in the inability to pay work-ers’ salaries.

The lawmaker said Aregbesola could be ac-cused of over-ambition in trying to rapidly develop the state, but not of delib-erately plunging the state into debt as peddled by some people.

“I make bold to say that the resources accruable to the state, including loans, have been judiciously ex-pended on people-centered development across the state.

“As at today, Aregbe-sola’s administration has built 16 elementary schools, 14 middle schools and one high school. Similarly, with the support of the National Assembly lawmakers in Osun, eight model schools were built, while 18 rural Middle schools that can conveniently accommodate 400-500 students have been built.

“Also, over 1,000km of roads have been construct-ed alongside numerous hospitals; many of which are Primary Health Cen-tres and general hospitals revamped. Despite the fi-nancial challenge, Aregbe-sola did not stop the lauda-tory Osun School Feeding scheme in which over 250,000 students get fed dai-ly during school terms.

hesitate to expel any student found wanting in character and learning.

According to her, the insti-tution recently sanctioned 13 students over various offenc-es ranging from examination malpractice to gross miscon-duct.

These included eight stu-dents expelled for “smug-gling extraneous materials,” suspension of three others, while two were warned for sundry examination-related offences.

The rector urged the fresh students to see their admis-

sion as “an opportunity to aim and attain higher aca-demic laurels and equip your-self for a rewarding future as well as a challenge for you to live a morally-upright life de-spite pervading decay in the larger society.”

She assured the students that to ensure all-round edu-cation to prepare them for the future, the institution had put in place specific programmes, including entrepreneurship programme, work-study scheme, ICT/IT training, and sporting and relaxation facili-ties.

National Mirror www.nationalmirroronline.netSouth East10 Monday, July 6, 2015

Follow federal character in appointments, lawmaker urges Buhari

Igbo govs reject B’Haram prisoners in AnambraChris NjokuOWERRI

South East governors yesterday in Owerri, Imo State, expressed

worry over recent reloca-tion of some Boko Haram detainees to Ekwulobia, Anambra State.

The governors, who met yesterday after a crucial meeting at Government House, Owerri, argued that if the relocation has become inevitable the de-tained Muslim fundamen-talists should be taken to Abuja where there is a max-imum facility.

Imo State Governor, Ro-chas Okorocha, on behalf of his colleagues said the governors had equally re-solved, among other issues, to work together in order to find lasting solution to the

DeNNis AgboENUGU

Lawmaker repre-senting Ohaozara/Onicha/Ivo federal

constituency in the House of Representatives, Linus Okorie, has urged Presi-dent Muhammadu Buhari and his political party, All Progressives Congress, APC, to respect the federal character principle as en-shrined in Section 14(3) of the Nigerian Constitution.

The section states: "The composition of the govern-ment of the federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nige-ria and the need to promote national unity, and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few states or from a few ethnic or oth-er sectional groups in that government or in any of its agencies."

Okorie accused Presi-dent Buhari and the APC of having violated the con-stitutional provision on all the appointments they had made since assuming lead-ership of the Federal Gov-ernment on May 29.

The lawmaker, who is from Ebonyi State, noted with particular interest the pronouncements of APC lawmakers de-emphasising the federal character prin-ciple.

Lawal Abdullahi Kazaure is from Jigawa; Aide De Camp, Lt.-Col. Muhammed Lawal Abubakar, Kano State; Senior Special Assis-tant on Media and Public-ity, Mallam Garba Shehu is from Kano; and Special Ad-viser on Media and Public-ity, Femi Adesina, is from the South-West.

Noting that there is am-ple time for the President to put things right, the leg-islator said for any govern-ment to succeed, it should not limit itself to talents from one section of the country alone.

security challenge confront-ing the zone such as kidnap-ping, baby factory business, cultism and armed robbery, and would liaise with all se-curity chiefs and elders of the zone to realise its aim.

The governors, who de-cried the plight of victims of Boko Haram insurgen-cy, who are of Igbo extrac-tion, implored the Federal Government to intervene immediately to alleviate their predicament.

According to them, they had also resolved to estab-lish a South East economy hub to promote commer-cial activities, create jobs and industry as part of measures to strengthen the economy of the zone.

On the issue of Radio Biafra, which currently operates on frequency 102.7 FM, the governors

L-R: Senator Gilbert Nnaji; Senator Chuka Utazi; Deputy Senate President Ike Ekwremadu, and Enugu State Governor Ifeanyi Ugwuany, after a media briefing in Government House, Enugu, yesterday.

Cholera claims 10 more lives in EbonyiAliuNA goDwiNABAKALIKI

Cholera at the week-end killed 10 more persons in five com-

munities of Ezza North and Ozibo village in Eb-onyi local government ar-eas of Ebonyi State, while 20 other victims are cur-rently receiving treatment in hospitals in the area.

The affected communi-ties are Umuezeoka, Umu-ezeokaoha, Eka, Umuoriu-zo and Ozibo.

Recall that about 30 per-sons have died of cholera in Ebonyi since February this year when the first outbreak was recorded in Edomia village in Ebonyi local council.

In a bid to arrest the situation, Governor Dave Umahi has ordered the immediate intervention by relevant agencies of government in communi-ties where there have been incidents of cholera in the state.

The governor spoke through Commissioner for Information and State Orientation, Emmanuel Onwe. He noted that the government was poised to tackle cholera in the state, adding that relevant envi-ronmental agencies have been ordered to immedi-ately deploy workers to en-sure emergency clearance of wastes to appropriate dump sites and cleanliness of the environment.

The Information com-

ment.“Clearly, this cannot be

interpreted to exclude the National Assembly’s prin-cipal officers’ positions. All of us, including my respect-ed colleague, Hon. Gbaja-biamila, have a duty not to encourage or allow the Con-stitution to be desecrated or abused by people who are desperate for power," Oko-rie said.

Commenting further on Buhari’s disposition towards the federal char-acter principle, Okorie pleaded with the president to tread cautiously and avoid the prevalent threat of ethnic bias, which only endangers trust and na-tional cohesion that was delicately built up over the past 16 years, in particular.

“Mr. President has made nine appointments thus far and eight of the appointees are from the North, with one from South West. Specifically, the new Director-General of the State Security Ser-vices, Lawal Daura, is from Katsina State; Act-ing INEC Chairman, Ha-jia Amina Bala Zakari, Jigawa State; Director, Department of Petroleum Resources, Mr. Mordecai Danteni Baba Ladan, and the new Accountant-Gen-eral of the Federation, Ahmed Idris, Kano State.

“The appointment of Mr. President’s closest aides follows a somewhat similar pattern as the State Chief of Protocol, Mallam

Okorie expressed con-cern that his colleague in the House, Femi Gbajabi-amila (APC), who before now acted as an erudite opposition lawmaker and was perceived by many as a quintessential respecter of the rule of law and con-stitutional provisions, was leading the upturn of the constitution.

"His (Gbajabiamila) cur-rent personal ambitions cannot justifiably account for such a dramatic som-ersault that seeks to turn Nigeria’s constitution on its head merely to justify a position, which is clearly against the spirit and let-ter of the constitution,” the legislator said.

Okorie alerted that with-out any iota of doubt, the principle of Federal Char-acter enshrined in the na-tion’s constitution is now under threat in the current dispensation, recalling that the few appointments al-ready made by President Muhammadu Buhari do not reflect federal charac-ter.

He, however, advised that it would be in the best interest of the nation if Bu-hari addresses the error in the course of subsequent appointments, and quickly too.

He faulted Gbajabiami-la's view that the House of Representatives is not an agency of Federal Govern-ment and that its principal officers’ positions were elective and not by appoint-

said the station neither has their endorsement nor that of leaders of South East. They, how-ever, assured that security agencies would handle the situation at an appro-priate time.

They said they would soon meet with President Muhammadu Buhari with a view to discussing prob-lems facing the zone.

The governors jointly agreed that Enugu remains headquarters of the zone and that a secretariat would soon be established there to hold their meetings.

Governors present at the meeting included the host, Okorocha, Ifeanyi Ogwuanyi of Enugu State, Abia’s Okezie Ikpeazu and Dave Umahi of Ebonyi, who was represented by his deputy, Dr. Kelechi Igwe.

missioner, during a press briefing at the Govern-ment House shortly after the median executive meet-ing, revealed that the gov-ernment was to commence reconstruction of the Meat Market/Gunning Road in the Abakaliki city cen-tre with a view to ensur-ing that the place is made clean and conducive for business.

Onwe explained that the council ordered that sala-ries of the civil servants be paid immediately declar-ing that the administra-tion would be run like a business such that avoid-able expenditures would be stopped.

He said the council re-solved to maximise the economic potential of the state with a view to boost the Internally Generated Revenue of the state.

He said: "The govern-ment is also to commence construction of overhead bridges at Akanu Ibiam Roundabout, Presco Junc-tion and Vanco junction located in the state capital, Abakaliki.”

He added that the Minis-try of Sports was directed to look at the possibility of having two football teams, for male and female.

Earlier, the state episte-mologist, Dr Francis Onwe, who confirmed the cholera outbreak, expressed wor-ries that even after they had contained an earlier outbreak in the state, it oc-curred in other places.

National Mirrorwww.nationalmirroronline.net 11Monday, July 6, 2015 South South

…initiative key to UNEP report on OgonilandOsahOn JuliusYENAGOA

Abducted wife of former acting Governor of Bay-

elsa State, Mrs. Martha Binabo, who was taken away by gunmen in mili-tary uniform from her warehouse last Monday in broad daylight has been released.

She was released about 11am yesterday.

Although the family was silent on payment of ransom for her release, her husband on Satur-day told former Gover-nor Timipre Sylva, who visited the couple’s home in Azikoro that his wife would be released the next day.

Matha's husband, Chief Nestor Binabo, was Speak-er of the House of Assem-bly under Sylva and acted as governor of the state when the Supreme Court removed Governor Sylva from office in 2012.

She was whisked away from a warehouse located near her home at Azikoro/Agbura community road. The area is barely five ki-lometres from the former President’s homestead of Otuoke.

The bandits, number-ing about five, were said to have stormed the ware-house of Mrs. Binabo about 11:30am in a Toyota vehicle. She was taken to nearby Otuokpoti water-side from where the kid-nappers escaped with her in a standby boat.

Chief Benabo hinted that the abduction of his wife was politically-motivated, insisting that he could not be cowed by anybody. A known chief-tain of the Peoples Demo-cratic Party, PDP, Binabo

Kidnappers release former acting gov’s wife

Salary arrears: Bayelsa lawmakers summon LG chairmen

publicly fraternises with members of the All Pro-gressives Congress, APC, who came with Sylva, promising to ensure that the party takes over the Creek Haven Government House in the next elec-tion.

Sylva was happy that Binabo was upbeat de-spite the kidnap of his wife. He stressed that a leader should be prepared for any eventuality that comes his way. He urged Binabo to be steadfast as there would soon be a change in governance in the state.

According to Sylva who said he is back in full force to participate in the politics of the state, he deliberately ignored Gov-ernor Seriake Dickson all the while because he had a national objective of en-suring that his party, the APC wins in the last na-tional election.

"Now that, that objec-tive has been realised, I can face the government in the state," he said.

Sylva was accompanied in his visit to Binabo by his former chief of staff, Chief Samuel Ogbuku, and most of his former aides who went back to the PDP but have since re-turned to him, including his former deputy, Chief Werinipre Seibarugu.

unpaid salaries, saying that salary is the life line of every worker.

"The council chairmen must ensure that the situ-ation is handled with the seriousness it deserves in order to avoid unwar-ranted industrial crisis in the councils,” she said, pleading that the council workers should be calm as the state’s House of Assembly has waded into the matter.

Women during inauguration of a water project donated by the JTF to Koluama community in Bayelsa State, at the weekend. PHOTO: NAN

Arase, Police boss

said the non-payment of local government workers’ salaries has affected the primary school system in the state.

Meanwhile, a female member of the House of Assembly representing Yenagoa Constituency 2, Hon. Ebiuwou Koku Obi-yai, has expressed concern over delay in payment of local government workers’ salaries in the state.

Seconding a motion,

inviting the big eight local government council chair-men in the state, on the floor of the House, the lawmaker maintained that workers are entitled to their salaries at the end of each month.

Hon. Obiyai, who was the immediate past chair-person of the Nigerian Labour Congress, NLC, lamented the untold hard-ship the local government council workers may be facing as a result of the

SPDC kicks off grassroots campaign against crude theft

in Ogoniland if crude oil theft ends, assuring that government was working with relevant stakeholders to implement recommenda-tions of the United Nations Environment Programme, UNEP, report.

“Crude oil theft and ar-tisanal refining are crimi-nal acts that are not only against the law but capable of mortgaging the future of the community,” said Melvin Ododo, a principal environmental scientist who represented the zonal director of NOSDRA, Riv-ers State at the event.

An Ogoni monarch, King Barnabas B. Paago Bagia, said the campaign has the blessings of the council of elders in the area. King Ba-gia who was represented by Chief Pegior Raphael, add-

ed that the elders were do-ing all they could to educate the youths against crude oil theft that is causing the communities untold hard-ship.

SPDC’s Ogoni restora-tion project manager, Au-gustine Igbuku, said the campaign is key to the implementation of the UNEP report which recom-mended, among others, that Ogoni communities take ac-tions that will stop further environmental pollution re-sulting from crude oil theft and illegal oil refining.

He said: “The response to the first phase last year has been very encouraging. We hope that the people will seize the opportunity to join the crusade against crude oil theft and artisanal refin-ing in Ogoniland.”

nies in Nigeria, Mr. Osagie Okunbor.

“We are therefore, focus-ing on raising awareness among the youths on envi-ronmental, socio-economic and health risks associated with crude oil theft and sab-otage of pipelines,” Osagie said, adding that the initia-tive was in collaboration with Rivers State govern-ment and National Oil Spill Detection and Response Agency, NOSDRA.

Speaking at the launch in Biara community, Direc-tor, Inspectorate and En-forcement, in Rivers State Ministry of Environment, Charles George, commend-ed the people for their ef-forts in reducing pipeline vandalism. He restated that meaningful develop-ment could only take place

OsahOn JuliusYENAGOA

Bayelsa State House of Assembly has summoned council

chairmen and other offi-cials of the eight local gov-ernment areas of the state over their inability to pay workers’ salaries.

According to the sum-mons, which was issued after deliberation by members of the House,

Shell Petroleum Devel-opment Company of Nigeria Ltd., SPDC,

has kicked off second phase of its grassroots campaign against crude oil theft and illegal oil re-fining in Ogoniland.

The first phase of the campaign in 2014 reached over 7,000 community peo-ple from Eleme, Gokana, Khana, and Tai local govern-ment areas.

“The 2015 campaign is targeted at Ogoni youths for whom we have designed some alternative empower-ment programmes such as Ogoni LIVEwire, which in January trained 105 Ogoni youths in different skills and offered them start-up funds and support,” said Manag-ing Director of SPDC and Country Chair, Shell Compa-

the council chairmen and officials would appear to-morrow with details of all revenue received from the Federation Account and expenditure in the last six months.

A member representing Southern Ijaw constitu-ency 3, Hon. Baraladei Igali, while moving a motion un-der Matter of Urgent Public Importance, said though the appearance of local government councils would

ascertain the cause for non-payment of workers’ sala-ries at the council level, the issue of non-payment of salaries has exposed work-ers to hardship.

Other members of the Assembly, including Chief Salo Adikumor (Sagbama 3), Monday Obolo Bubou (Ogbia), Bernard Kenebai (Sagbama 2), Dr. Ana-purere Awoli and Sunny Igoli (Brass 1), expressed concern over the issue and

National Mirror www.nationalmirroronline.net12 Monday, July 6, 2015North

People queue for Free Medical Care Services by the Nigerian Army Medical Officers of the 28 Task Force Brigade, Mubi, to commemorate the 2015 Nigerian Army Day celebration at the Emir’s palace in Mubi, yesterday. PHOTO:NAN

The Presidency has disowned an al-leged Twitter com-

ments against some for-eign leaders by a false account linked to Zahra Buhari, one of the daugh-ters of President Muham-madu Buhari.

A statement issued yesterday in Abuja by Buhari’s Senior Special Assistant on Media and Publicity, Garba Shehu, said the offending han-dle @Zahra_Buhari had stopped being her own for a long time since it was compromised by hackers.

He said the clarifica-tion had become impera-tive in view of enquiries by a few foreign missions on the raging online con-troversy about the unsa-vory comments against

foreign leaders.Shehu therefore, said

that tweets by this handle were not her own and should be disregarded and considered the work of hackers seeking to cause mischief between Nigeria and friendly states.

According to him, Zahra’s authentic handle is @ZmBuhari, and any handle other than this on Twitter, should be consid-ered as fake and therefore fraudulent.

He further disclosed that neither the wife of the President, Aisha Bu-hari, nor other children “are currently on Twitter, Facebook or the various other platforms.”

The statement read, “The attention of the

Presidency has been drawn to unauthorised and unexpected tweets by an account falsely linked to Zahra Buhari, one of the daughters of Presi-dent Muhammadu Bu-hari.

“Following enquiries by a few foreign missions on the raging online con-troversy about unsavoury comments against some foreign leaders purport-edly made by her, we wish to state categorically that Zahra is indeed on Twit-ter but the offending han-dle @Zahra_Buhari has stopped being hers for a long time since it was compromised by hackers.

“Tweets by this han-dle are therefore not her own and should be dis-regarded and considered

as the work of hackers seeking to cause mischief between this country and other friendly states.

“Zahra’s authentic handle is @ZmBuhari and any handle other than this on Twitter should be considered as fake and therefore fraudulent.

“It is also pertinent to state at this point that neither the wife of the President, Mrs. Aisha Bu-hari, nor other children, are currently on Twitter, Facebook or various oth-er platforms.

“As they explore the possibilities on this new territory, we request the general public to ignore the many accounts on various platforms in their names that cur-rently exist.

Presidency raises alarm over Zahra Buhari’s fake Twitter account

B’Haram displaces over 1.4 million in N’East, says NEMA

Dangote challenges local investors on economy

Maiduguri Airport begins commercial operations –FAAN

APCON blocks 150 unapproved adverts in Kaduna

Managing Direc-tor, Federal Air-ports Authority

of Nigeria, FAAN, Saleh Dunoma, says the just re-opened Maiduguri Inter-national Airport can now commence commercial operations.

This is contained in a statement issued by FAAN’s General Manager, Corporate Affairs, Yakubu Dati, in Lagos, made avail-able on Sunday to News Agency of Nigeria, NAN.

The statement assured Nigerians and airport cus-

Advertising Practi-tioners Council of Nigeria, APCON,

yesterday said it blocked 150 unapproved advertise-ments on radio and other channels in Kaduna State between January and June.

Liaison Officer of AP-CON in Kaduna, Salisu Dawaki, told the News Agency of Nigeria, NAN, that the advertisements were placed on billboards and radio without approv-al of the council.

Dawaki said the sealed

materials included 68 billboards and 37 radio adverts that were not ap-proved and vetted by the agency.

“The culprits were giv-en two weeks grace to ob-tain the necessary approv-al but failed, so we blocked

the materials and ordered them to stop,” he said.

According to the liaison officer, despite that the state had about 70 regis-tered advertising practi-tioners, their level of com-mitment to the agency had been very poor.

As the nation’s econ-omy comes under pressure due to pau-

city of funds occasioned by fall in the price of crude oil in the international mar-ket, President of Dangote Group, Aliko Dangote, has challenged private investors to rise to the challenge by initiating fresh investments in manufacturing and agri-culture.

The business mogul, who bemoaned the over-depen-dence on oil to the detriment of other viable sectors, urged Nigerian and international businessmen to lead in the task of diversifying the econ-omy as the only viable op-tion to the current economic

quagmire. Addressing busi-ness executives in Lagos on the new initiatives of his pan-African conglomerate, Dangote stated that it had be-come apparent that Nigeria needed to move away from a monolithic economy that thrives only on trading of oil and gas.

He said the situation in Nigeria where state govern-ments were unable to meet the obligation to pay salaries and Federal Government not having enough to meet its needs called for concerted and drastic steps to move the economy away from its pres-ent one-sector dominance to other areas like agriculture, mining and manufacturing.

International Organ-isation for Migration, IOM, and National

Emergency Management Agency, NEMA, yester-day said Boko Haram in-surgency and incessant communal clashes among various ethnic groups in Northeastern Nigeria had displaced 1,385,298 million persons in five states of the sub-region.

This is contained in the June 2015 Displace-ment Tracking Matrix, DTM, released by IOM and NEMA yesterday to newsmen in Maiduguri, Borno State capital.

Information officer of NEMA, Sani Datti, in a statement yesterday said Borno State has the high-est number of Internally Displaced Persons, IDPs, of 1,002,688, while Gombe has the least with 16,984 persons in two camps and living with relatives.

Following Borno, the statement added, is neigbouring Yobe State with 125,484 displaced persons, currently liv-ing with their relatives in Damaturu, Potiskum

and three other towns in northern part of the state.

Datti added: “Adama-wa, Bauchi and Taraba states in the North East sub-region also recorded 113,437, 76,504 and 20,501 of IDPs in that order of influx into the capitals of the affected three states in the sub-region.”

The DTM activities are being implemented according to the method-ology endorsed by stake-holders, which comprises members of NEMA, the State Emergency Man-agement Agency, SEMA, the Nigerian Red Cross Society, NRCS and IOM.

Other humanitarian partners in the field, ac-cording to the statement, are also participating in the assessment on an ad-hoc basis.

The project is funded by the Office of Disaster Assistance of the United States Agency for Inter-national Development, USAID, and the Euro-pean Commission’s Hu-manitarian Aid and Civil Protection Department.

tomers that security had been beefed up within and outside the airport for pas-sengers’ safety.

Operations at the airport were suspended in Decem-ber 2014.

Subsequently, the joint military task force took over the airport following a raid on nearby military units by Boko Haram.

Dunoma in the statement assured staff working at the airport of management’s support as they operate amid security challenge.

The FAAN chief urged them to keep supporting the Federal Government, espe-cially the armed agencies

that were using their facili-ties.

“I urge FAAN workers to remain committed to suc-cessful operations as the Maiduguri Airport opens for commercial operations,” he was quoted as saying in the statement.

It also quoted Dunoma as commending the staff for ensuring that facilities and equipment of the authority were maintained through-out the period the airport was shut down.

The statement called on them to make safety and passenger comfort key ob-jectives in line with the mandate of the Authority.

PoliticsNational Mirror

www.nationalmirroronline.net 13Monday, July 6, 2015

NASS crisis: Implications of Buhari’s support for party over principal officersEZEKIEL TITUS examines the implication of the support of President Muhammadu Bihari for the All Progressives Congress, APC, over and above the principal officers of the National Assembly in the lingering crisis bedevilling the legislature.

Buhari Saraki

An adage that when two elephant fight only the grasses suffer appears to be apt for the current political permutations in the bicameral Na-

tional Assembly since the emergence of Senator Bukola Saraki and Hon Yakubu Dogara as Senate President and House of Representatives’ Speaker respectively.

This may not be unconnected with the comment of President Buhari supporting the position of the ruling All Progressives Congress, APC’s decision compelling Saraki and Dogara to adhere strictly to the party’s de-cision in appointing their detractors as principal offi-cers in both chambers.

Buhari made the statement during the APC Nation-al Executive Council, NEC, meeting in Abuja recently, in a bid to rescue the party from drift in the aftermath of the party’s loss in its attempt at imposing surro-gates on the National Assemly as leaders on June 9.

It would be recalled that the party had plotted through its mock primary to impose Senator Ahmad Lawan and Hon Femi Gbajabiamila on both the Senate and the House respectively as presiding officers, but was forced to eat the pie on the floor of both chambers with the democratic emergence of Saraki and Dogara respectively,

Since then, the battle line was said to have been drawn between the party in support of its candidates at the National Assembly as against Saraki and Doga-ra. This development led to fisticuffs on the floor of the House, which observers described as a global shame, but attributing same to personal interest regardless of the support Nigerians accord to the APC to unseat an incumbent president

It was gathered that Buhari’s comments were a tacit support for the party to have its way in imposing the remaining leadership positions, regardless of the fact that the party’s wishes was against the principle of Federal Character as enshrined in the 1999 constitu-tion, as amended!

This, analysts believe, would not allow for cohesion and good governance, especially among lawmakers from opposing sides in the National Assembly, with the attendant negative effect on the generality of the electorate and deliverance of the eluding dividends of democracy.

Observers said Buhari’s support to the party expos-es his partisanship, despite his earlier promise not to interfere with the business of the legislature and who emerge as principal officers and his pledge to be ready to work with whoever emerged as Senate President and Speaker of the House.

It was gathered that since the emergence of Saraki and Dogara, the APC National Chairman, John Odi-gie-Oyegun, has been under intense pressure from chieftains of the party, who wanted Lawan and Gba-jabiamila and their cronies emerged principal officers in the National Assembly for their own personal inter-est and against the general interest of the Nigerian electorate.

Perhaps, this explains why Gbajabiamila, while speaking to the State House correspondents recently, after a meeting of his group with President Buhari at the Presidential Villa, insisted that Dogara must respect the party’s decision and appoint the party’s nominees as principal officers.

National President of Concerned Citizens for De-mocracy and Good Governance, CCDGG, Alhaji Ad-amu Maina, described the APC decision as undemo-cratic, uncalled for and a shame to the survival of democracy, saying the party is heading towards drift and urged Buhari to steer clear over the imposition of unpopular persons to occupy the offices of principal offices in the National Assembly.

Maina added that Buhari and APC should allow the elected lawmakers to elect among themselves the prin-cipal officers through due process as done during the presidential elections, to safeguard against hijacking good governance for the yearning and aspirations of the electorates.

Expressing dissatisfaction at the President’s stand, CCDGG urged Buhari not to support the party’s posi-tion as it would not only diminish his status, but also be a hindrance to delivering of democracy dividends. It described the APC stand as an ill wind that will bring about nothing good, as it is the personal view and wish of certain personalities within the party to satisfy per-sonal interests.

Maina regretted that Buhari’s support for the par-ty’s decision on the principal officers portend a grave danger to the independence of the legislature in the business of legislation and may serve as bottle neck between the factions in the National Assembly and may force Nigerians against the party.

Sources confided that Buhari had been under pres-

sure to act the scripts of some APC chieftains who are proud to have allegedly not only sponsored Buhari’s presidential emergence, but also nurtured the par-ty and nurturing the party that ousted the Peoples Democratic Party, PDP, from office after sixteen years of sojourn.

The source stressed that Buhari’s stand portends grave implication on Saraki/Dogara’s move to ensure the stability of the National Assembly towards con-solidation on the gains of democracy in tandem with their blueprints hence, their quest to compensate their supporters especially for voting them respectively

Unconfirmed reports said that Dogara may have no option than to dance to the party’s tunes, even as he is said to be exploring different options to respect the party decision, especially after the NEC and meet-ing with governors. This, observers opined may be creating fear among the members as to their fate in occupying juicy positions in the House, because those pencilled for the other four offices may hijack their chances and dream of heading House committees.

Pundits said the APC may not find things easy in the dispensation of good governance in line with its change slogan with the current political logjam, as personal interests seem to be impacting negatively on how the government should be run, thereby affecting the appointment of ministers and others that serve as the engine room of government.

However, political observers and stakeholders be-lieve that the earlier the ruling party put this ugly trend in the National Assembly behind it and forge ahead to deliver on its promises to Nigerians, the bet-ter for it, as if allowed to fester too much, the ongoing crisis may make the Nigerian electorate, which gave it overwhelming support during the 2015 elections, to turn their backs on it in subsequent elections, espe-cially as some gubernatorial elections are knocking

Buhari’s support for the party’s decision on the principal officers

portend a grave danger to the independence of the legislature in the

Business of legislation and may serve as Bottle neck Between the factions in the national assemBly

National Mirror www.nationalmirroronline.net14 Politics Monday, July 6, 2015

Akande spoke like a sincere leader –Group

the people involved to order.IT said: “Here is the

man who steered the ship of our party through the turbulent waters from conception to birth. He did so with sincerity of purpose and great sacri-fice that even President Muhammadu Buhari, a man of few words, not given to praise-singing, confessed that he respect-ed Akande’s patriotism while acknowldging how he led the interim party ‘with dexterity and integ-rity’.”

National Chairman Chief John Odigie-Oye-gun also admitted that he saw in Akande trustwor-thiness and sincerity. Is it

such a person that would now wish the smooth-sailing ship of the party should capsize?”

APC-AG recalled how Chief Akande had jour-neyed with Asiwaju Bola Ahmed Tinubu through thick and thin from the dark and lonely days of the Alliance for Democra-cy, AD, to the Action Con-gress, AC, and then the Action Congress of Nige-ria, ACN, before arriving at the APC, saying such a person knows what true loyalty and discipline are and should be taken seri-ous when preaching them.

Chief Akande had been criticised for his recent ut-terances cautioning some

party members who he ac-cused of trading the par-ty’s birthright and dining with the enemy in a bid to get choice positions.

Specifically, he men-tioned some Northern elites and the New Peoples Democratic Party, nPDP, members within the APC as those rocking the party boat with indiscipline and disloyalty.

But the APC-AG said Akande was on point and had only reiterated what was already in the public domain. Perhaps it is mak-ing more meaning to them now that it is coming from a person of Chief Akan-de’s flawless character.

L-R: Governors Ifeanyi Ugwuanyi (Enugu), Rochas Okorocha (Imo), Okezie Ikpeazu (Abia) and Ebonyi State Deputy Governor, Dr. Eric Igwe, during the meeting of South-East Governors Forum in Owerri, yesterday.

preciation of what God has done for us is heart warm-ing. Infact, they were the people that actually voted.

“We are now charting a course whereby we have constant interactions for me to listen to their prob-lems and for me to within the limitation of what will be available to try to ad-dress some of these prob-lems. I am really grateful to God that they found it worthwhile to thank God for my success at the polls. I am really humbled by the expression of support by my people”, he said.

Senator Umar to Nigerians: Show understanding

PC chieftain chides ex-Speaker, deputy over plan to buy CRHA Guest Houses

Lagos PDP carpets Ambode over market demolition

Coalition tackles Buhari over NASS crisis, urges on internal democracy

It would be recalled that Mushin Local Government authority in conjunction with the state authorities recently carried out the de-molition of the Ladipo auto spare parts market.

Gani said: “We welcome radical infrastructure de-velopment in the state, but such must also be given human face. We are aware that this recent demolition had no prior notice to the traders. The exercise was carried out without any due legal process like issu-ing of statutory notice.

“It was so sudden that the traders could not even take their property. As a

result, the traders lost un-quantifiable auto parts and cash in local and foreign currencies. The exercise appeared more of retalia-tion because the market is Igbo dominated and it is be-lieved that the Igbos voted against the current gover-nor in the state. But this is misgovernance as some Ig-bos must have voted for the governor.

“We are also aware that the proposed development is to be financed by a devel-oper who probably spon-sored the demolition. Is this also a case of satisfying the investor over and above the majority traders?”

Priscilla DennisMINNA

The senator repre-senting Niger East senatorial district,

Barr David Umaru, has urged Nigerians to be patient and show under-standing with the Senate and the Federal Govern-ment as they settle down to provide dividends of democracy.

He also assured that the present administration will soon find lasting solutions to the challenges of under-development and economic deprivation due to years of negligence by previous gov-ernments.

Umaru, who stated this at the weekend during a thanksgiving service or-ganised by the Evangeli-cal Church Winning All, ECWA, Shiroro District Church Council, DCC, at Gwanda area of the state.

The lawmaker thanked his constituency, paticular-ly the leaders of ECWA for considering it appropriate to organise the programme to thank God for his victory at the senatorial poll.

Dedicating the victory to the people of Niger East, he stated: “For them to organ-ise the thanksgiving in ap-

the market has been com-pletely overshadowed by the manner of execution of the decision, adding that the manner which lacked any due legal process ex-posed the strong likelihood of vindictiveness against Ibo dominated markets in Lagos State.

It said there was thus ur-gent need for caution in the actions of the state govern-ment in areas dominated by non indigenes, even as it advised igbo traders in Lagos to seek succour from the courts, rights and in-ternational commissions against further victimisa-tion in the state.

Deborah DiDi

richarD nDomaCALABAR

A chieftain of the AllProgressives Congress, APC,

Hon. Cletus Obon, at the weekend raised an alarm, lambasting former Speaker of Cross River State House of Assembly, Rt.Hon Larry Odey and his deputy Hon. Itaya Asu-quo, over their alledged plan to secretly buy over two Guest Houses belong-ing to the state House of Assembly.

Obon, a former member for Boki 1 state constitu-ency in the state House of Assembly raised the alarm while fielding questions from journalists in Calabar and wondered why the two immediate past principal officers of the state Assem-bly could afford to stoop so low to secretly purchase the property which originally belong to the people of the state.

Obon said he was shocked when it was alledged that the two prin-

cipal officers could hatch such a secret and danger-ous plan to purchase the state Assembly property lo-cated at the state House of Assembly Estate when they own their own property worth more than the prop-ert in question.

Charging the state gov-ernor, Ben Ayade, not to assent to such a plan, he de-scribed the plan as wicked, stressing that such transac-tion was selfish and wicked and not in the interest of the state.

He said: “Odey and Itaya should carry their sticky fingers to their villages. We are members of the inter-national community, mem-bers of the West African parliament, that means a Cameroon parliamentarian who comes in here can go and take a room there at a subsidize rate. We can even lease it for some one to run but with specific instruc-tions which means we can tell all parliamentarians that this is the rate, but you would not go there and buy it.”

olajiDe omojolomoju

ezekiel TiTusBAUCHI

North-East coali-tion groups has charged President

Muhammadu Buhari to tow the path of honour and allow National As-sembly members to elect

their principal officers as supremacy of Nigerians supersede that of party going by the need to tack-le issues affecting the na-tion currently

This is just as the group also urged the President to ensure internal democracy in the business of the legis-

lature to allow for ideal bills that will bring genuine de-velopment instead of tying the hands that were dully elected as Senate President and Speaker, House of Rep-resentatives, respectively

President of the coali-tion, Mohammed Adamu, gave the advise while brief-

ing newsmen in Bauchi, saying that Buhari’s stand that elected members should respect All Progres-sives Congress, APC direc-tive summarily exposed his silence in support of en-emies of democracy.

Expressing its dissatis-faction over the President’s support for the party’s stand, Adamu said that there was no in time in a democratic dispensation where a president who was dully elected is taking side with a party to smuggle in errant sits surrogates as principal officers in the Na-tional Assembly to pacify godfathers who claimd to have nurtured the party.

The group described the move as purely a coup against Nigerians, saying the party’s interest is not above the interest odf Nige-rians who stood behind and voted the party’s candidates in all ramifications in spite of persecution, harassment and intimidation by the out gone ruling party.

All Progressives Congress, APC, Action Group, AG,

has risen in stout defence of former interim Nation-al Chairman of the ruling party, Chief Bisi Akande, saying his recent utter-ances on the crisis be-devilling the party at the National Assembly were those of a sincere leader.

APC-AG, in a statement by its spokesperson, Segun Dipe, said the ramrod quali-ties of Chief Akande qual-ify him to see when things are skewed towards failure and was right to have called

Lagos State Peoples Democratic Party, PDP, has strongly

criticised the Lagos State government for the man-ner of demolishing the popular Ladipo auto spare parts market, accusing the government of insin-cerity, imperialism and misgovernance.

In a statement signed by its Publicity Secretary, Taofeek Gani, the PDP said the good intention that may be in the decision of the government to develop

National Mirrorwww.nationalmirroronline.net 15Monday, July 6, 2015 Views

MAHMOOD YUSUF KUMO

Many Nigerians voted in the last general elections because they needed a change; I dare

say it was not because they expected a holistic change, especially from our Nation Assembly. Some people who call themselves progressives and are per-ceived as such are now the same people mired in anti-party activities and thus directly undermining the interest of the masses. These are the people who said “APC SAK” (APC all through) during their campaigns because their intention was to use General Muham-madu Buhari’s popularity to achieve their selfish political ambition.

Having achieved the objective, their famous slogan “APC SAK” has now changed as it has become expedient for them to enter into alliance with members of the opposition PDP in the National Assembly in order to satisfy their selfish agenda.

What recently happened in the Sen-ate never happened in the 16 years of PDP rule in Nigeria. Both the Speaker of the House of Reps and the deputy were members of the same political party until the Aminu Tambuwal saga, when after his defection to APC, his deputy was in still in PDP. I am sorry to say that these people have started their mischief again, and the most likely victim will be President Buhari.

It appears they do not want him to suc-ceed. Mark my words, they will stop at nothing until they satisfy their hunger for power.

When I read from one of the national dailies that none of the six members of 7th House of Representatives from my state (Gombe) sponsored a single bill during their four years in the House, I was very embarrassed. This was be-cause we did not vote them into power to be bench warmers. Do they even know why they are there? Are these the kind of representatives we need? How could they call themselves ‘representa-tives’ if could not sponsor a single bill in four years?

We are begging our newly elected members of NASS to try and learn how to sponsor bills so that our voice can be heard. The most unfortunate thing is that out of the 360 members in the House only 169 sponsored bills, while 191 were bench warmers in the four years at the National Assembly. Truly, we cannot continue like this. There should be rules in the House making it mandatory for every member to spon-sor at least two bills in year so that pol-itician should know that the National Assembly is not a playground for illit-erates and lay about.

My most candid appeal to Mr. Presi-dent is to increase the momentum of his government to fast track the pro-cess of meeting Nigerians’ expecta-tions. Already there is apprehension

that old age has slowed down the need-ed vitality for fast actions. He should know better that there are many big names in the polity who will definite-ly want his government to fail. It was the Italian political philosopher, Nico-lo Machiavelli who once said: “For a leader to be successful and maintain his stay in power, he must learn to be both a lion and a fox, as a fox, the leader must be cunning and as a lion he must mercilessly apply force and subdue an opponent”. He further postulated that “For a leader to be successful, he must be ruthless with his subjects, because to be feared gives more security than to be loved.”

A clear example of proactiveness is how Governor Nasir El-Rufai of Ka-duna State hit the ground running i by making very meaningful appointments, reducing the number of ministries in the state from 19 to 13, establishing the General Agwai-led Security Commit-tee, cancellation of Ramadan gifts and allocation of fertilizer to royal fathers, and ordering a feasibility study on how to revamp the Kaduna textile indus-

SANDRA AKUOMA

With this piece, which is focused on the ways to set healthy boundaries, we are wrapping

up our discussion on the subject.Change your perception that hav-

ing personal boundaries is in order. It doesn’t mean you are selfish or unlov-ing. It is both completely acceptable and absolutely necessary for healthy rela-tionships. Understand that self worth comes from defining your life as you want it to be, not from the acceptance or identity of others.

Another way is to sit down and reflect on how you have been allowing others to take advantage of you, and how you might be accepting situations that are really unacceptable to you. Make a list of things that people may no longer do to you, say to you, or do around you. Decide how you need physical and emo-tional space. Define your values, belief system and outlook on life to enable you have a clear picture of who you are and how you want to live. Get very clear on that.

One other way is tune into your feel-ings. Resentment usually comes from be-ing taken advantage of or not appreciat-ed. It’s often a sign that you are pushing yourself either beyond your own limits because you feel guilty (wanting to be a good daughter or wife, for instance), or someone else is imposing his/her expec-tations, views or values on you. When

someone acts in a way that makes you feel uncomfortable, that’s a cue that they may be violating or crossing a boundary

Then learn how to say NO! Rather than avoid it altogether like not picking your calls or avoiding the person, it’s all about learning the right way to say no. Here are some scenarios: If you are too busy to entertain a request or offer, let the person know your plate is full at the time, so he/she can hold off/on this, as well as future requests. You can reply by saying: “I can’t commit to this as I have other priorities at the moment.”

It is common to get sudden requests for help when you are in the middle of something; you can reply by saying: “Now’s not a good time as I’m in the middle of something; how about we re-connecting at so, so and so time?”

Another gentle way of breaking ‘no’ to a person is by replying “I’d love to do this, but …” It’s encouraging as it en-ables the person know you like the idea

(of course, you only say this if you do like it) and there’s nothing wrong about it.

The simplest and most direct way to say no is saying “No, I can’t.” We build up too many barriers in our mind to say-ing no. These barriers are self-created and they are not true at all. Don’t think so much about saying no and just say it outright politely. You’ll be surprised when the reception isn’t half as bad as what you imagined it to be.

Then think about makeing self-care a priority. This involves giving yourself permission to put yourself first. When we do this, your need and motivation to set boundaries become stronger. Self-care also means recognizing the impor-tance of your feelings and honouring them. These feelings serve as important cues about your wellbeing and about what makes you happy and unhappy. Putting yourself first also gives you the energy, peace of mind and positive out-look to be more present with others and be there for them. And when you are in a better place, you can be a better wife, mother, husband, co-worker or friend.

Please, be assertive. Of course, we know that it’s not enough to create boundaries; we actually have to follow through. Even though we know intel-lectually that people aren’t mind read-ers, we still expect others to know what hurts us. It’s important to assertively communicate with the other persons when they ha’ve crossed a boundary. In a respectful way, let the other person

know what in particular is bothersome to you and that you can work together to address it.

Dear, start small. Like any new skill, assertively communicating your bound-aries takes practice. Start with close friends, family members and kids. If you have had weak personal boundar-ies for years, be aware that this change doesn’t happen overnight. Disengaging from the emotions and beliefs that led you to weak boundaries requires prac-tice, and sometimes it requires the sup-port of a counsellor.

Food for thought When you define and implement per-

sonal boundaries in your life, you will find that fear diminishes significantly; then ou will feel more empowered and self-confident because you are commu-nicating your self-worth to those around you. The more you practice holding fast to your boundaries, the more love, re-spect, and support you will find in your life.

Ms Akuoma wrote from Lagos via [email protected] and can be reached on 0816 5583876 (SMS ONLY)

WHEN YOU DEFINE AND IMPLEMENT

PERSONAL BOUNDARIES IN YOUR LIFE, YOU WILL FIND THAT

FEAR DIMINISHES SIGNIFICANTLY

OUR EXPECTATION IS THAT A BLUE PRINT

ON HOW TO MOVE THIS COUNTRY FORWARD HAS

LONG BEEN READY

Where is the change promised?

Ways to set healthy boundaries

Send your views by mail or sms to PMB 10001, Ikoyi, or our Email: [email protected] [email protected] or 08164966858 (SMS only). The Editor reserves the right to edit and reject views or photographs. Pseudonyms may be used but must be clearly marked as such.

tries, etc. It must be remembered it is three

months since he won the presidential election conducted on March 28, 2015; one would expect that process for the constitution of the Federal Executive Council should have been concluded by now. Our expectation is that a blue print on how to move this country for-ward has long been ready; the imme-diate action taken on the insurgency is highly commendable, this should be replicated in other sectors of the economy. Many Nigerians are dying of hunger and starvation; salaries are not paid in many states, even in some federal ministries. Nigerians want all these challenges to be addressed.

The change Nigerians expect should be like the one we are witnessing today in my Gombe, many people regarded t as the new London. The achievements recorded by Governor Ibrahim Has-san Dankwambo in the last four years are highly commendable - elimination of political thuggery and introduction of traffic marshalls; construction of 500 township roads in all the 11 local government areas of the state, estab-lishment of College of Education Bil-liri, School of Nursing, Dukku, School of Legal and Islamic Studies, Nafada, State Polytechnic, Bajoga, among other.

Nigerians believe in you; live up to their expectations.

Kumo wrote from Gombe, Gombe State.

National Mirror www.nationalmirroronline.net

THE POLICE DO NOT HAVE THE POWERS TO

ARREST AND DETAIN FOR THE PURPOSE OF DEBT

RECOVERY

16 Monday, July 6, 2015 EditorialEditorial

Police and dubious debt collection rolesRoutine abuse by some

overzealous, perhaps, corrupt officers and men

of the Nigeria Police Force, who mostly in their individual capaci-ties, offer their services as debt collectors, has been the fad over the years. But it is a brazen insult on the police as an institution, when a legitimately constituted agency, like their Special Fraud Unit, gets itself entangled in dubious debt collection roles, to the point of forcing a debtor involved in lawful business to issue a cheque meant to cancel the debt under duress, like the Federal High Court in Lagos was made to understand lately. Reports said the presiding judge, Justice Saliu Saidu, ruling on a case of fundamental rights enforcement brought before his court, restrained Guaranty Trust Bank Plc (GTB) from presenting for payment a cheque of N100 million issued by an oil company - Euro Flow Designs Limited - and its directors, Messrs. Godwin Adamolekun and Jimi Bademo-si, under duress to gain freedom from police captivity.

Euroflow Design’s Managing Director, Bademosi, in a motion ex-parte filed and argued by his counsel, narrated that sometime in 2010, his firm approached the bank for a loan to finance the purchase of a vessel; but that the

deal couldn’t sail through. Even-tually, an account officer working in GTB introduced Euroflow to another oil company – Ascorp Pe-troleum - which was willing to in-vest in the purchase of the vessel. Ascorp Petroleum then loaned Euroflow Designs N375 million and deducted N13,315,068.50 to cover bank charges, facilitation fees and interest up front.

The vicissitudes of business notwithstanding, Euroflow did not relent in repaying the loan. But in September, 2013, Ascorp Petroleum petitioned the Special Fraud Unit of the Nigerian Po-lice on Milverton Road, Ikoyi, La-gos, claiming Euroflow had failed to repay the loan; and following repeated police harassment, the company applied to the court to enforce its fundamental rights. Ruling on the application on May 21, 2014 favoured Euroflow, which claimed it had already repaid N115 million out of the N375 million loan. But again on May 26, 2015, officers of the Nigeria Police from Special Fraud Unit arrested the applicants on the ground that GTB in a petition alleged that one of its account officers diverted some funds belonging to unknown persons, which was kept in the custody of the bank and that it was the money that Ascorp Petroleum loaned Euroflow Designs.

As a result, the police on May 27, 2015, and purportedly acting on GTB’s insistence, went all out to obtain immediate payment commitment from the applicants in the sum of N100 million, while the applicants were in their custody since the previous day. In response to police threats, the applicants were forced to issue a N100 million cheque in the name of Ascorp Petroleum to be paid into the account of the company domiciled with GTB.

Justice Saidu in his ruling on the latest development restrained the police and their agents from arrest-ing and detaining the applicants pending the hearing and deter-mination of the substantive suit. He, in addition, restrained them from presenting the N100 million cheque issued under duress by the applicants while in the custody for payment, as well as directed the police to release the international passport of the applicants to the deputy Sherriff of the court.

This is not the first time the police are being disgraced in court over suspicious debt col-

lection. Over two years ago, a former member of this newspa-per’s Editorial Board, Mr. Kayode Ketefe, cited similar instances. In one of the cases handled by an-other Federal High Court Judge, Justice Okon Abang, the latter berated the police, stressing that they had no right to convert themselves into a debt collection agency. The judge said the police misused the coercive powers of the state and awarded damages of N500, 000 in addition to N50, 000 cost against the respondents.

A Lagos High Court judge, Jus-tice Ebenezer Adebajo, ruling on another similar case said: “It is not the duty of the police to arrest or detain persons in such civil transac-tions. The arrest and detention of the applicant without trial is not justifiable in law, especially when the police do not have the powers to arrest and detain for the purpose of debt recovery…” In yet another case, Justice Mudashiru Oniyangi of the Federal Capital Territory High Court in Abuja ordered the then Inspector-General of Police, Hafiz Ringim, to pay an applicant the sum of N2.5 million as damages for his unlawful arrest and deten-tion by officers of the Nigeria Police Force.

With all these court rulings, why are the police still so much in love with and excited about questionable debt collection?

Letters to the EditorLetters to the EditorLetters to the Editor

x

The AK-47 went into production in the Soviet Union. AK-47 is a selective-fire, gas-operated 7.62×39mm as-sault rifle, first developed in the USSR by Mikhail Kalashnikov. It is officially known as Avtomat Kalash-nikova. It is also known as a Kalashnikov, an “AK”, or in Russian slang, Kalash. Design work on the AK-47 began in the last year of World War II (1945). After the war in 1946, it was presented for official military trials.

July 6, 1947 July 6, 2006

The Nathu La Pass between India and China, sealed during the Sino-Indian War, was re-opened for trade af-ter 44 years. Nathu La is a mountain pass in the Himala-yas. It connects the Indian state of Sikkim with China’s Tibet Autonomous Region. The pass, at 4,310 m (14,140 ft) above mean sea level, forms a part of an offshoot of the ancient Silk Road. Nathu means “listening ears” and La means “pass” in Tibetan.

July 6, 1967

Nigerian Civil War: Nigerian forces invaded Biafra, beginning the country’s civil war. The Nigerian Civil War, July 6, 1967 – January 15, 1970, was a political conflict caused by the at-tempted secession of the southeastern provinc-es of Nigeria as the self-proclaimed Republic of Biafra. The conflict was the result of economic, ethnic, cultural and religious tensions across the country.

ON THIS DAY

All the Facts, All the SidesAll the Facts, All the SidesA PUBLICATION OF GLOBAL MEDIA MIRROR LTD

BARRISTER JIMOH IBRAHIM, CFR PUBLISHER

SUNDAY OLAJIDE MANAGING DIRECTOR/CEO

BEN MEMULETIWON ACTING DAILY EDITOR

GBEMI OLUJOBI SATURDAY EDITOR

AYO OLESIN SUNDAY EDITOR

DOZIE OKEBALAMA COORDINATOR, EDITORIAL BOARD

CALLISTUS OKE EDITORIAL PAGE EDITOR

ISE-OLUWA IGE ABUJA BUREAU CHIEF

AUGUSTUS IMEKAN ACTING HEAD, GRAPHICS

National Mirror www.nationalmirroronline.netMonday, July 6, 2015A2 18 Business Courage

Cover

Capital Market:

UDO ONYEKA, CO-ORDINATOR

BUSINESS [email protected]

c Global Media Mirror Limited

The proposed plan by the Chief Executive Officer of Nigerian Stock Exchange, Oscar Onyema, to commence trading naira futures on the Exchange tallies with the call by stakeholders to expand the country’s capital market offerings. However, a lot needed to be done to explore the benefits of the desirable trading options. Udo Onyeka reports.

Deepening capitalisation, growth through trading naira futuresIn the recent past there

have been calls by stakeholders on how best to deepen the

country’s capital market by expanding its offerings to include, fixed income securities, hedging instru-ments and other derivatives.

As the stock market gradually recovers after the huge decline recorded in the wake of the global meltdown between 2008 and 2009 attention and interest in the market are also increasing.

According to experts, this development is en-couraging because a full recovery of the stock mar-ket opens the door to eco-nomic growth and develop-ment for the country, as the exchange remains one sure accessing long term loans.

However to play the role of adequately providing long term loans for devel-opment of the larger econ-omy, especially building an entrepreneurial base, mar-ket watchers say the stock market must be deepened enough play and even sus-tain this onerous role.

As a crucial intermedi-ary in capital formation, the capital market pro-vides a large pool of invest-ible funds from which en-trepreneurs and investors can access long-term capi-tal with which to execute development projects and

lay the foundation for eco-nomic growth and diversi-fication.

This is why the plan of the Nigerian Stock Ex-change, NSE, to start trad-ing naira futures has gen-erated so much interest among stakeholders.

It is a known fact that the current structure of the Exchange is predomi-nantly equity driven, a situation that limits the number of asset classes in the market.

Giving the hint about the move to start trading in the national currency futures in an interview in London recently, the Ex-change’s Chief Executive Officer, Oscar Onyema, said the move would be beneficial to foreign in-vestors and by implica-tion, boost current drives for long term funding in the economy, as it would also help investors hedge against movements in the local currency.

Futures is a financial contract obligating the buyer to purchase an as-set, or the seller to sell an asset, such as physical commodity or a financial instrument, at a prede-termined future date and price Future contracts de-tail the quality and quan-tity of the underlying asset; and futures markets are characterised by the ability to use very high leverage relative to stock markets.

Onyema hinted that while NSE might com-mence the offering of fu-tures by the end of 2017, the immediate plans for the current year includ-ed a premium board for largecap securities that meet corporate gover-nance standards as well as a depository receipt pro-gramme, which will allow local investors to access foreign listed companies on the domestic market.

He noted that in the past year, traders and bankers had advocated a loosening of controls enforced by the Central Bank of Nigeria, CBN, to protect the naira which had depreciated by 18 per cent against the dollar during the period. “It would be awesome if we had a naira-dollar contract that we could trade on the exchange. Futures and op-tions are asset classes that we think would be very beneficial to foreign inves-tors,” Onyema said.

The NSE boss ex-pressed his optimism that there existed a “very rich pipeline” of competing companies that may start trading their shares this year, depending on market conditions, including busi-nesses that could list secu-rities in London and Lagos.

He projected that there would be initial public of-ferings and secondary list-ings from oil and gas, fast-moving consumer goods,

telecommunication and in-dustrial- goods companies, with dual listing being part of the pitch.

Reacting to the planned move, the Registrar/Chief Executive Officer of the Chartered Institute of Stockbrokers, Mr. Adedeji Ajadi, said the proposed introduction of currency derivatives, Naira- Dollars options and/or futures, by NSE was a move in the right direction, adding that it is a development that the stakeholders in the market had anticipated for quite some time.

According to him, both local and foreign investors would naturally be excited about the proposed initia-tive in view of its implica-tions for deepening the nation’s bourse, risk man-agement efficiency and the long-term funding oppor-tunities in the economy. He said: “Currency deriva-tives are very efficient risk management instruments.

“They also provide al-ternative options for hedg-ing, speculation, arbitrage and leverage. The activities mentioned above enhance the capacity of market participants to minimise their risk, take advantage of mis-pricing of assets, and potentially make more profits from the capital/ money markets.

“These activities also deepen the market as a whole since the variety of instruments and contracts that can be traded is wid-ened by the introduction of the derivative contracts.

“Therefore, the planned introduction of currency derivatives, Naira- Dollars options and/or futures, by NSE is a welcome develop-ment that the market has anticipated for quite some time. “I believe local and foreign investors alike will be excited about this posi-tive development”, he said.

According to experts de-rivatives are derived from

underlying instruments such as stocks, bonds, and commodities.

“There are other catego-ries of underlying instru-ments such as weather and emission. The overrid-ing objective of trading in derivative instrument is to hedge against risk”, an ex-pert said.

Business Courage gathered that the Ex-change had for long been working on the introduc-tion of trading in deriva-tives, regarded as highly sophisticated.

However for Nigeria to reap the benefit in trading in Naira futures Ajadi ad-vised that The Exchange hires experts to drive trad-ing in these asset classes, train its relevant staff, ex-

Onyema

National Mirror www.nationalmirroronline.net Monday, July 6, 2015 A3 19Business Courage

BC

pose both stockbrokers and the financial press to the new risk management system because it has a huge potential risk and re-turn . “Derivatives trading is one of the major courses for qualifying as a char-tered stockbroker through the CIS.

“This is what makes di-versification fundamental by expanding the market offerings to include fixed income securities, hedg-ing instruments, collective investment schemes and other derivatives”, Ajadi said.

According to Investo-pedia Exchange traded derivatives are especially suited for the retail inves-tor because of the following features that distinguish them from OTC deriva-tives.

“The exchange has standardised terms and specifications for each de-rivative contract, making it easy for the investor to determine how many con-

tracts can be bought or sold. Each individual con-tract is also of a size that is not daunting for the small investor.

“The derivatives ex-change itself acts as the counterparty for each transaction involving an exchange traded deriva-tive, effectively becoming the seller for every buyer, and the buyer for every seller. This eliminates the risk that the counterparty to the derivative transac-tion may default on its ob-ligations

“Exchange traded de-rivatives are not favoured by large institutions be-cause of the very features that make them appealing to small investors. For in-stance, standardised con-tracts may not be useful to institutions that gener-ally trade large amounts of derivatives because of the smaller notional value of exchange traded deriva-tives and their lack of cus-tomization”, it said.

Exchange traded de-rivatives are also totally transparent, but this may be a hindrance to large institutions, who may not want their trading inten-tions known to the general public.

Another defining char-acteristic of exchange traded derivatives is their mark-to-market feature, wherein gains and losses on every derivative con-tract is calculated on a daily basis. If the client has incurred losses that have eroded the margin put up, he or she will have to re-plenish the required capi-tal in a timely manner, or risk the derivative position being sold off by the firm.

However for the stock market to be deepen Secu-rities and Exchange Com-mission, SEC, said good corporate governance is key.

Director-General, Se-curities and Exchange Commission, Mr. Mounir Gwarzo,recently empha-

sised the need to good gov-ernance as he lamented the failure of some com-panies to fully migrate to the International Finan-cial Reporting Standards, when members of the As-sociation of Reporting Ac-countants visited him in his office.

Also former DG SEC, Ms. Arunma Oteh, has adopted a number of mea-sures aimed at rescuing the capital market sustain the gradual recovery and expanding the market.

Oteh had equated eco-nomic development with the growth of the capital market. She stressed that no effort at enhancing the depth, breadth and so-phistication of the Nigerian capital market that would be a wasted effort.

A world-class market, she stated, is one backed by strong investor confi-dence, and is character-ised by adequate product offerings and well-organ-ised processes, market in-

tegrity, sound regulatory regime, transparent disclo-sure and accountability, good corporate governance and a fair and efficient marketplace.

“Others are the exis-tence of infrastructure of securities exchanges; de-mutualisation of the ex-change, development of al-ternative trading markets and investor-education,” she said.

“Investor confidence remains the most pivotal element in capital market vibrancy as the investible funds needed for produc-tive investment are derived from the savings of inves-tors. For this reason, SEC will assiduously pursue the protection of investors and the sustenance of con-fidence.

“Closely tied to confi-dence is market diversifi-cation, a quest that SEC is undertaking with single minded determination in order to create the desired economic linkage,” the for-mer DG had said.

She had worked as-siduously to expand and made that both the second tier market and alterna-tive investment market were operationalised as part of initiatives to foster entrepreneurship through capital market financing, the window, she said also opened for introduction of other products.

The head of product management at the NSE, Mr. Dipo Omotoso, who represented the chief ex-ecutive officer of the ex-change at a forum recently in Lagos, highlighted some of the measures taken to strengthen the capital market.

He described the in-vestment opportunities in the capital market and Ni-geria’s economy as huge, urging investors to be more active in the retail bonds segment.

CEO, Stanbic IBTC Stockbrokers Ltd, Mr. Ol-adele Sotubo, said the transformation of Nigeria’s bond market into a vibrant investment window re-quired the collaboration of all stakeholders.

He reiterated the or-ganisation’s commitment to facilitating stability and growth of the Nigerian capital market, via confi-dence-building initiatives and leveraging investment opportunities in the mar-ket.

Also the NSE has initi-ated move aimed at pro-moting dual listing and showcasing the potential of quoted companies on the NSE to global markets.

Onyema, was quoted as saying the event would bring together key market stakeholders to discuss opportunities for dual list-ing in the London and Ni-gerian capital markets.

“It is an opportunity for engagement between the UK and Nigerian capi-tal markets with a view to deepening domestic and regional markets; enhanc-ing liquidity and identify-ing institutional and ca-pacity building initiatives needed to develop both markets and create long term value for respective stakeholders.

“The plans to get local firms to list both on The NSE and London Stock Ex-change is part of our strat-egy of transforming Nigeria into an international finan-cial centre that serves not only the Africa region but also the global market,” he said.

Speaking at the third Building African Finan-cial Markets seminar, BAFM, at the Johannes-burg Stock Exchange in Sandton, South Africa in 2014, President of The Nigerian Stock Exchange, NSE, council, Aigboje Aig-Imoukhuede, said private and public sector leaders must be made to under-stand that Exchanges are particularly important in the provision of long-term financing, as they help with mobilizing resources and directing the flow of savings and investments to businesses.

He also highlighted the importance of maintaining consistent policy regimes based on just and equita-ble principles that will gen-erate and preserve issuer and investor confidence in African capital markets.

Concerning NSE, he mentioned that in an effort to raise corporate Nigeria’s level of competitiveness, the NSE recently devel-oped a Corporate Gov-ernance Rating System, CGRS, for listed compa-nies in partnership with the Convention on Busi-ness Integrity, CBI.

Aig-Imoukhuede also acknowledged that though African securities ex-changes are contending with challenges such as trading limited to a hand-ful of stocks and gener-ally low liquidity, he is of the belief that African exchanges must lead the “march for change”, by influencing their govern-ments to implement en-abling policies that will encourage the flow of capi-tal and investment to the continent.

SotuboAjadi

Gwarzo Aig-Imoukhuede

National Mirror www.nationalmirroronline.netMonday, July 6, 2015A4 20 Business CourageCourage

News

L-R: Head of Service, Sokoto State, Muhammad Bature Shinka , Governor, Sokoto State, Aminu Tambuwal, Executive Director, North Bank, Fidelity Bank Plc., Mohammed Balarabe, and Branch Leader, Fidelity Bank Plc. Sokoto, Abdulrahman Ibrahim when Tambuwal commissioned the Sokoto State Orphanage Home renovated and refurbished by Fidelity Bank Plc. under the aegis of the Fidelity Bank Helping Hands Pro-gramme (FHHP).

Morton

Ryder

Ladipo-Ajayi

�‘Compliance an increasing burden on West African treasurer�’Udo Onyeka

Regulatory and compliance issues are increasingly tak-

ing up the time of senior trea-sury and nance professionals in West Africa.

This was the key nding of the �“Treasury Verdict�” session taken by a live audience poll of senior treasury and nance professionals at EuroFinance�’s conference on Treasury, Risk & Cash Management in West Africa, held in Lagos recently.

According to the nding a vast majority 92 per cent of treasurers in the region say that they expect to spend more time on compliance in 2015 than they did in 2014.

�“Despite this additional burden, treasurers were split on whether their department�’s resources would be bigger in the coming year. Some 48 per cent expected their treasury resources to be measurably bigger in 2015, but 52 per cent said this would not be the case.

EuroFinance�’s Editorial Director, Katharine Morton, says �“Regulation presents challenges for corporates all around the world, and this is clearly re ected in West Africa. Treasurers need to be clear on the cost of compliance for their organisation, particularly at this time when many are being asked to do more with less.�” The nding using an electronic voting system, respondents an-swered 10 key questions on the future of the global economy. An expert panel then discussed the results.

The survey is part of the Treasury Verdict series, spon-sored by BNP Paribas, measur-ing the viewpoint of corporate treasurers on up-to-the-minute issues.

EuroFinance is the leading global provider of conferences, training and research on cash management, treasury and risk. Running more than 50 events worldwide, EuroFinance enables treasurers and CFOs to exchange innovative strate-gies, best practice and expert opini

NAICOM approves LASACO Assurance 2014 account

The National Insurance Commission, NAICOM, has

approved the 2014 reports and account of LASACO Assurance Plc.

A statement from the com-pany at the weekend, said the regulatory authority lived up to its commitment of giving speedy approval for accounts that are well presented in compliance with International Financial Reporting Standard, IFRS.

The highlight of the account shows that the rm recorded a gross premium Income of N5.6bn against N4.9bn in 2013.

In the same vein, LASACO Assurance witnessed a pro t before tax of N525m against N412m made in 2013. Its pro t after tax rose to N445m against N275m recorded in 2013.

The Company grew its earnings per share from N00.4 in 2013 to N00.6 in the year under review. The Company settled N1.8b in claims and insurance bene ts in 2014 and its Operating expenses for the year 2014 amounted

to N1.54bn representing a decrease of N211m compared to prior year of N1.75bn.

The Group Managing Director of the Company, Mr. Olusola Ladipo-Ajayi explained that the company�’s perfor-mance in the 2014 nancial year was a re ection of team work and strategic deployment of resources, points out that the recent restructuring by the Company is paying up.

�‘Unfriendly business environment hinders SMEs�’

The Chairman of United Bank for Africa Plc, UBA,

Mr. Tony Elumelu, has said that the harsh business op-erating environment across countries in Africa has made it dif cult for businesses, espe-cially, the Small and Medium Enterprises, SMEs, to survive the test of time.

Lack of social amenities such as good transportation system, stable electricity sup-ply, friendly judicial system, among others, he said, will continue to limit expansion of businesses across the conti-nent, unless the aforemen-tioned issues are addressed.

According to him, �“We do indeed have very dif cult and harsh operating environment for entrepreneurs in Africa that makes it dif cult for entre-preneurs to succeed. That is why it is said that over 90 per cent of new businesses in the continent die. But we cannot stop aspiring entrepreneurs because the operating environ-ment is dif cult. It is a two-way traf c.�”

Through his foundation, the Tony Elumelu Foundation, TEF, he said he try to create advocacy with governments

to make sure that the coun-try have the right operating environment. Elumelu also expressed his desire is to bring about inclusiveness and also reduce the inequality gap in the continent.

�“Africa is always use to the mentality of aids and people helping us. But increasingly, we are beginning to see people with large hearts help others succeed. We see poverty every-where as a threat to everybody and the less of poor people we have in Africa, the better the continent for all,�” he added.

�“I am empowering these emerging entrepreneurs, we are providing the capital, the networks, the training and support for them to drive eco-nomic and social transforma-tion throughout Africa, provid-ing solutions to its problems as well as securing their future and that of generations to come, �” Elumelu said.

ILO adopts labour standard to tackle informal economy

The International Labour Organisation, ILO, has

adopted a new international la-bour standard that is expected

to help hundreds of millions of workers and economic units move out of informal into the formal economy.

More than half of the world�’s workforce is estimated to be trapped in the informal economy* , which is marked by the denial of rights at work, the absence of suf cient opportu-nities for quality employment, inadequate social protection, a lack of social dialogue and low productivity, all of which con-stitutes a signi cant obstacle to the development of sustain-able enterprises.

In a statement ILO said the new Recommendation ac-knowledges that most people enter the informal economy not by choice but due to a lack of opportunities in the formal economy and an absence of any other means of livelihood.

�“The Recommendation �– the rst ever international labour standard speci cally aimed at tackling the informal economy �– was passed by 484 votes in favour and garnered outstand-ing support from the ILO�’s tripartite constituents.

�“The new labour standard provides strategies and practi-cal guidance on policies and measures that can facilitate the transition from the informal to the formal economy�”, It said.

The vote by the Internation-al Labour Conference is seen as a crucial step in assisting countries to set up the neces-sary measures to promote de-cent job creation and sustain-able enterprises in the formal economy.

�“Over the years we�’ve seen a growing consensus between governments, workers and employers that the right thing to do is to move people from an informal to a formal employ-ment situation. We know it is not easy, we know that these are processes are complicated and take time, but the great value of this Recommendation is that we now have an inter-national framework of guidance to help member States bring this about,�” said ILO Director General Guy Ryder.

Canadian rm plans renewable energy project in Nigeria

Canada based science com-pany, NH3, plans a renew-

able energy project to tackle power challenge in Nigeria, its International President, Mr Robert Leth, has said.

Leth disclosed this in Abuja on Friday while signing a Mem-orandum of Understanding (MoU), with Nigeria�’s Traveri Group.

He said the project would commence on a pilot scale in Enugu and Nasarawa states.

Leth added that the com-pany had entered into agree-

National Mirrorwww.nationalmirroronline.net Monday, July 6, 2015 A5 21Business CourageCourage

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Olaoluwa

Nnubia

Olowo

L-R: Founder and Editor, Mamalette Website and Forum, Anike Lawal; Proprietress of Grace Schools, Mrs. Iyiola Edun and Dr. Kana Ogban, during the Re-Launch of Mamalette Website and Forum in Lagos, at the weekend

ments with the Governments of both states and that the project would be funded by accessing 185 billion euros from Euro-pean Union fund.

He explained that the EU fund, Horizon 2020, was set aside to nance the ght against climate change glob-ally.

The president explained that the rm�’s decision to introduce renewable energy in Nigeria stemmed from its com-mitment to tackle the threats associated with global warm-ing.

Chief Executive Of cer of Traveri NH3, Mr Innocent Obende, said green technology which provided solutions to energy problems in developed nations of the world would be replicated in Nigeria.

He stated that with the MoU, the company would im-mediately begin the feasibility study as to how to fund and best deploy renewable energy to the generality of Nigerians.

He said the company had signed similar memorandum with the government of Enugu and Nasarawa states where the project would soon commence on a pilot scale.

�“Traveri NH3 is set to rep-licate the green energy tech-nology provided in the United States in Nigeria as part of ways of nding solutions to the country�’s energy problems.

``With the technology in place, the rm will create em-ployment, provide energy and manufacture fertiliser.

``We have met with the technical committees of the states, we have entered into partnerships and we hope to focus on waste management, electricity generation, and real estate�”, he said.

Association calls for merger of aviation, transport ministries

Members of Aviation Round Table ,ART, on Friday

urged the Federal Government to merge the Ministry of Avia-tion with that of Transport.

The News Agency of Ni-geria, NAN, reports that the stakeholders made the call at a roundtable held to review the

�“State of the Aviation Indus-try�’�’, in Lagos.

They also suggested that the Nigerian Civil Aviation Authority, NCAA, should be granted full autonomy.

President of ART, Mr Gben-ga Olowo said the merger of the two ministries will give clear focus and direction to their parastatals as against the pres-ent situation where they are seen as serving two masters.

According to him, this will lead to uniformity of policies, reduce corruption and inef -ciency, as well as reduce waste in governance.

He advocated the strength-ening of Nigerian Civil Aviation Authority, the Federal Airports Authority of Nigeria and the Nigerian Airspace Management Agency.

Olowo said rather than bailing out struggling airlines, AMCON, NCAA and the Securi-ties and Exchange Commis-sion, should work together to midwife two or three vibrant airlines.

`Ìf Nigeria has two to three vibrant and competitive airlines, it will have a tremen-dous effect on the economy of the entire West African sub-region�”, he said.

According to him, most of the private airlines operating presently are at the dictates of the owners who often divert pro ts from the airlines to some other businesses.

He said government should encourage joint ownership of airlines by Nigerians and for-eigners alike.

``The private airlines should be encouraged to be listed by the Nigerian Stock Exchange and on the basis of participa-tory ownership which should involve members of the public buying their shares.�”

He added that they were opposed to fresh multi-billion naira bail out for debt-ridden airlines by the Assets Manage-

ment Company.Mr John Ojikutu, Secretary

of ART said Nigeria should review its Bilateral Air Service Agreements because it was having negative impact on its domestic carriers.

Ojikutu also called for full autonomy of the NCAA to en-able the regulatory agency to perform its statutory duties more ef ciently.

BVN extension: NLC, consultant urge customers to register

The Nigeria Labour Con-gress, NLC, has called on

its members to take advantage of the extension by the central bank to be captured in the Bank Veri cation Number, BVN, exercise.

The Chairman of the con-gress in Anambra, Mr Jerry Nnubia, who made the call in an interview with the News Agency of Nigeria, NAN, inAwka on Friday, commended the apex bank for heeding the call of majority of Nigerians.

``The four-month extension will be enough to capture those who had not registered and there is no need for a special work-free period for workers which I earlier canvassed.

`Àll Nigerians and bank customers should not exhibit the lackadaisical attitude that would have created problems in their accounts if the June 30 deadline was upheld.

�“Labour is happy with the extension; our call is that members should avail them-selves of the window and get their BVN,�” he said.

Also speaking, a nan-cial consultant, Mr Azubuike Okoro, expressed the fear that the extension might make Ni-gerians to become less enthusi-astic about the registration.

Okoro, the immediate past branch controller of CBN in Awka, said a deadline was nec-essary to capture up to 90 per cent of the banking public.

�“The new date of Oct. 31 is a welcomed idea but I am afraid that Nigerians will still ask for more time because of our last minute approach to things.

�“The awareness campaign has been on but Nigerians hardly read or listen to news; people should go for informa-tion because that is why we are having low participation.

�“It could be a continuous exercise much later but we need this deadline to get at least 90 per cent of the bank-ing public and protect them from the fraudsters in the system,�” he said.

BoI disburses N75.8m to off-grid solar home system providers

The Bank of Industry ,BoI, on Friday disbursed

N75.8m to GVE Projects Ltd,, and Arnergy Solar Ltd. to provide solar home systems to off-grid communities in six states.

The states for the pilot phase for the take-off are,

Anambra, Delta, Niger, Osun, Kaduna and Gombe.

The Managing Director, BoI, Mr Rasheed Olaoluwa, while presenting cheques to the recipients, said the project was being implemented by the bank in collaboration with the United Nations Development Programme ,UNDP.

Olaoluwa said that UNDP which has 50 per cent stake in the project had contributed $1.6bn.

He said that the project was divided into the Stand alone, which costs N31.6 million, and the Micro-Grid, which costs N44.2m, making a total of N75.8m.

Olaoluwa stressed that the project would involve the Na-tional Agency for Science and Engineering Infrastructure and local meter manufacturers.

He stated that the project would be operated on a Pay As You Go basis without any threat to existing electricity distribution companies.

``There are two major sys-tems, the stand alone, which is for singular homes attached to their roofs, while the Micro-Grid would be used as a clus-ter for different homes in the community.

``The choice whether to use the micro-grid or stand alone would depend on the type of settlement in the chosen com-munities, which has not less than 200 houses.

``The solar system when installed can power 4 LED lamps, Television, radio and other appliances, with an aver-age daily cost of N50.

`Àfter the pilot phase has been proven successful, we have a long term goal to pro-vide 100,000 homes with the solar power systems within the next ve years,�” he said.

He said that the project would provide a long term so-lution to the problem of power generation, which ihe said was currently less than 4,000 megawatts.

The chief executive of cer of the bank said the programme was a more viable solution to rural-urban migration and poverty alleviation.

A recipient of the loan, Mr Ifeanyi Orajaka, assured stakeholders that the quality of the project would be of inter-national standard.


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Companies & Markets

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Sterling Bank partners FSD on human capital devt

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L-R: Executive Director, Enterprise Risk Management, Heritage Banking Company Limited, Jude Monye; Executive Director, Ivory Banking, Heritage Banking Company Limited, Mrs. Mary Akpobome; Star Prize Winner, Heritage Bank Training School Graduating set 2015, Chioma Ekwonu; Managing Director, Heritage Banking Company Limited, Mr. Ifie Sekibo and Executive Director, Lagos and South West Corporate Banking, Heritage Banking Limited, Ola Olabanjo, at the Valedictory Dinner in honour of Heritage Bank Training School Graduating set 2015

Ndegwa takes over as Guinness Nigeria’s MD/CEO

Old Mutual re-strategises, assures claims’ payment

Standard Chartered stresses importance of risk management

Udo Onyeka

As part of its Corporate So-cial Responsibility ,CSR, drive towards supporting

skill acquisition among youths to prepare them for self-em-ployment, Sterling Bank Plc has signed a partnership agreement with Field of Skills and Dreams ,FSD, a vocational training in-stitution to provide training programmes for members of the National Youth Service Corps, NYSC.

Under the agreement, the Bank will sponsor the train-ing of NYSC corps members in various vocations during the course of their service year in alignment with its expressed purpose of enriching lives.

The Bank has so far funded the training of about 100 NYSC members in various vocations during the pilot stage through the NYSC-SAED, Skills Acquisi-tion and Entrepreneurship De-velopment.

The Bank has also equipped a 20-seat ICT laboratory of the FSD which will provide all par-ticipants with rotational access to free ICT training.

The Bank explained that the need to support the develop-ment of skills among the youth has become inevitable given the growing rate of unemployment in the country.

“We believe that the steps we have taken so far would help in ameliorating the problem of un-employment in the country and

support other initiatives such as the Youth Empowerment Scheme ,YES, and the Youth Enterprise with Innovation in Nigeria ,YOU-WIN, introduced by the government to check-mate the relatively high rate of unemployment in the country”.

The Bank noted that en-trepreneurship through the growth of SMEs remains piv-otal in the growth of any nation. SMEs have played and continue to play significant roles in the growth, development and in-

dustrialization of many econo-mies. In the case of Nigeria, SMEs have performed below ex-pectation due to a combination of inadequate capacity in terms of skill and access to required funds”.

Already, Sterling Bank has demonstrated a commitment towards empowering fresh graduates with the introduction of programmes such as the “Get Ready for Work” and “Meet the Executive”.

“It is in line with this, that

we are supporting the FSD as a holistic measure to empower the Nigerian youth with adequate skills set and knowledge to be their own bosses”.

The Bank also explained the choice of FSD “Field of Skills and Dreams is a voca-tional, technical and entre-preneurship training institute that has succeeded in training various Nigerians and ensured their economic empowerment through hands-on training pro-grammes.

Old Mutual Plc, a United Kingdom-based invest-ment, savings, insur-

ance and banking company with vast business interest in Nigeria, has reassured of its commitment to prompt claim settlement.

The company said claim set-tlement is key to its mission and core value which is to be cus-tomers’ most trusted partner as it desires to be responsible in all its daily decisions and actions.

Speaking at the Nigerian Council of Registered Insurance Brokers ,NCRIB, ‘Members Eve-ning’ last weekend in Lagos, Regional Chief Executive Offi-cer\CEO, Old Mutual West Af-rica, Mr. Zomunoda Chizura,, said the company was commit-ted to being a responsible busi-ness entity in each of the mar-kets in where it operate.

Chizura explained that the company operates through a five pillars application of re-sponsible business, through its corporate values and interac-tion with stakeholders.

He listed the pillars to in-clude, “responsible to our customers, Responsible in-vestment, responsible to our employees, responsible to our communities and responsible environmental management”.

Chizura stated that the company’s segments include, Emerging markets, Old Mutual Wealth, Property & Casualty, Nedbank and US Asset Manage-ment, adding that the company generates revenues from four primary business activities.

“These are life assurance

(premium income), asset man-agement business (fee and commission income), banking (banking interest receivable) and general insurance (pre-mium income). The Emerg-ing Markets and Old Mutual Wealth segments generate rev-enues from life assurance and asset management activities.

“The Property & Casualty segment generates revenues from general insurance. The Nedbank segment generates revenues from banking and asset management and the

US Asset Management seg-ments generate income from asset management. The Com-pany’s key brands include, Oldmutual, Nedbank, Oldmu-tual Wealth, Mutual & Federal’ Chizura disclosed.

Earlier, the president of NCRIB, Ayodapo Shoderu eu-logized the marketing strategy of the company, saying that within the short time it entered into the country it has created significant awareness that very soon it will become a household name.

Adejuwon Osunnuyi

In line with its recent leadership change in the company, Guin-ness Nigeria Plc, a subsidiary of

Diageo Plc, has announced that its immediate past Managing Direc-tor/CEO, Mr. John O’Keeffe will re-sume in his new role as President, Diageo Africa with effect from 1st July 2015.

O’Keeffe is to be replaced as Managing Director/CEO by Mr. Peter Ndegwa, who is currently Managing Director of Guinness Ghana Breweries Limited.

In a statement made available to Business Courage, Mr. Soren Lauridsen, who was previously announced as Mr. O’Keeffe’s re-placement, has decided to leave his position due to personal, family related reasons effective end June.

Ndegwa holds an MBA from the London Business School and a Bachelor’s degree from the Univer-sity of Nairobi and is also a quali-fied accountant.

He has over 10 years working experience in East Africa and the United Kingdom with the global accountancy and consulting firm, PricewaterhouseCoopers.

Ndegwa joined Diageo in 2004 in East Africa as Strategy Director for East Africa Breweries Limited (EABL), a Diageo’s subsidiary.

He was then appointed Sales Director in 2006 and Group Fi-nance Director in 2008. EABL is a high profile GBP1.8bn market capitalisation locally listed busi-ness with a turnover of GBP470m and 1, 500 employees.

Ndegwa was appointed Manag-ing Director of Guinness Ghana Breweries Limited in 2011 with end to end (supply and demand) accountability for the P&L and commercial priorities of the busi-ness. He has overseen a complete reframe of the business despite some very tough external operating conditions – substantial currency devaluation, slowing GDP growth and high cost of doing business.

According to the statement signed by Corporate Communica-tions Manager, Guinness Nigeria Plc, Olayinka Edmond, Ndegwa is a highly effective and accom-plished business leader with a proven track record in strategic and commercial leadership span-ning over 20 years.

He excels in orchestrating stra-tegic change, driving organisation-al and team alignment and build-ing momentum around business priorities and delivering superior business results.

The new Guinness Nigeria boss leverages both his natural authen-ticity and strong diverse experience across a set of functional areas ,strategy, sales, finance, consult-ing, to create impetus in organi-sations and teams. He has been particularly successful in creating highly engaged teams and organi-sations.

Standard Chartered says it is committed to risk man-agement across its key

markets, including West Africa.The bank said it co-spon-

sored the 5th EuroFinance Conference on ‘Treasury, risk and cash management in West Africa’ to help companies to de-velop strong focus on risk man-agement.

The conference examines tools and strategies that can help companies to tackle credit, foreign exchange and opera-tional risks in the current chal-lenging markets in West Africa.

A statement by the lender quoted the Director, RMB So-lutions, Standard Chartered Bank, London, Mr. Jing Liu, as highlighting that Chinese in-

vestment was becoming more highly sought after in West Af-rica.

This, he said, had important implications for treasurers in the region.

According to Liu, RMB’s role in global trade has been ex-panded by China’s decision to increase its import and export trade flows in offshore RMB. BC


Companies & Markets

Well regulated online forex business�‘ll impact positively on economy �– Oludahun

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In this interview with Gbenga Odogun, Country Manager for Africa ICM trader, Mr. Bade- Ajidahun Oludahun, says there is the need for effective regulation to deepen online forex market in Nigeria. Excerpts:

Is it only currencies that are trad-ed in online forex market?

In the online forex market we trade currencies, we trade metals, such as gold, silver copper, iron we trade Commodities, Energy, such as Light crude, Brent crude and so on, we also trade equities like Micro-soft, Boeing, and other equities of US companies categorized as CFD, we also trade indices, such as Dow Jones, dollar index and so on, So in forex market we don�’t trade only currencies but also all the afore-mentioned.

What quali es a trader to partici-pate in the business of forex Trad-ing?

Well, the entry level of entrance for the forex market is very vague it is as simple as going online, choose a broker, completing a form and open an account and star trading after choosing a trader you can star trading almost immediately. But in the stock market it is not usually that easy. In Forex market anybody can participate, no matter the level of your quali cation, or personality, but in the stock market you need to have some level of quali cations or so to say you have to go through some people who are stock brokers who have to trade for you who in turn have undergone some profes-sional quali cation before you can access the market, but in the forex market you have direct access to the market, to the platform, to informa-tion that will help you in trading ef-fectively

How can Nigerian economy ben-

e t from online forex market?When we have lots of people par-

ticipate in forex market they become empowered, they begin to earn in-come; the market provides a lot of opportunities aside from trading to make gains from the market people can also build businesses around foreign exchange. if the regulatory

framework in Nigeria is de ned ,for-eign exchange brokers can set up a fully edged Nigerian brokerage rm instead of representing foreign brokers thus create employments and when foreign investors come in,

it attracts a lot of revenues as it does in the UK, the nancial hub, that at-tracts most of the forex brokers be-cause it is regulated. The amount of revenue being generated through tax is enormous and these compa-nies are equally providing training opportunities, these training centers create jobs.

What advice do you have for youths who may wish to build their career on online forex business?

I advice the youths to avail them-selves with the training opportuni-ties available to equip them with necessary skills needed for pro t-able trading. I have to state at this point that forex market carries with it some elements of risks just like any other business venture but these are risks that can be managed with the right training, my advice to the youths is go for knowledge, for instant in our facility here, we keep offering free training for those who are interested, we have partnered with organizations such as the re-

ligious bodies, NYSC, Cooperative societies we offer them free train-ing, because it�’s a business you can do part time or full time depending on your choice, I travelled out of the country recently and I saw a lot of our youths engaging in different menial jobs over there these people can avail themselves the opportu-nity provided by the market to make a living. If only these set of people could be educated to know that you don�’t have to do a menial job that you can make a living right in the comfort of your home.

Since the business is not yet reg-ulated in Nigeria, what regulatory framework do you feel government should put in place to grow the mar-ket?

Sincerely speaking, regulation is a bit complex and is not what every country can do, the major countries the UK, USA Cyprus all have regula-tory bodies, now there are challeng-es to regulation, do we have access to technology, to monitor traders, liquidity providers, most of the li-quidity providers are in the UK,US and Europe. So for Nigeria to go into regulation, we have to sort out the issue of technology to monitor trading activities, and liquidity and how to monitor ow. We have al-ready sent proposals to the major regulatory bodies Securities and Exchange Commission SEC and the Central Bank of Nigeria, CBN, they are looking at how to come in terms of regulation, we also have online forex traders associations set up to check members through self regulation.

How do we address the issue of con dence in the market following the crash of 2008/9?

Just like everything in Nigeria when any new thing comes out, peo-ple rush it, at this time the place of proper education about how the in-dustry operative was downplayed, ev-eryone just concentrated on making pro t without understanding how .It is like when someone who has never trained about driving just jumped into a car and started driving, we all know what will likely be the result. These experience when some people met the bad side while some also met the good side and make money, can be corrected by training people on how to go about the business of forex trading, at the point of training and education, you can make informed decision about whether or not its business you will want to go into or not, at that point you either build your con dence or back put due to lack of con dence.

if the regulatory frame-work in Nigeria is de ned ,foreign exchange brokers can set up a fully edged Nigerian brokerage rm instead of representing foreign brokers thus cre-ate employments and when foreign investors come in, it attracts a lot of revenues as it does in the UK, the nancial hub, that attracts most of the forex brokers because it is regulated

‘

‘Oludahun

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Global News

Donald Kaberuka, AfDB CEO

Xi Jinping, Chinese President

Dudley

BP to pay £12bn for Gulf Oil spill

BP has reached an $18.7bn, £12bn, settle-

ment with the US Depart-ment of Justice (DoJ) follow-ing the 2010 Gulf of Mexico oil spill.

It comes as a US federal judge was expected to rule on how much BP owed in Clean Water Act penalties following the environmental disaster.

Over 125 million gallons of oil spewed into the Gulf after an explosion at the Deepwa-ter Horizon oil rig in 2010.

The settlement is the larg-est paid by a single company in US history.

The Deepwater Horizon oil spill was one of the worst en-vironmental disasters in US history and claimed the lives of 11 people.

In December the US Su-preme Court rejected the oil giant�’s legal challenge over an original compensation deal agreed in 2012.

At the time BP had al-ready paid out $2.3bn in so-called business economic loss claims out of a total of $4.25bn in compensation claims to individuals and businesses, according to Pat-rick Juneau, the administra-tor appointed by the courts to handle claims.

The settlement process is also separate from other court proceedings relating to the spill, including environ-mental and criminal penal-ties.

BP has already set aside $43bn even without the Clean Water Act ne.

US Attorney General Loretta E Lynch said the BP settlement was the largest to be paid by a single company in US history.

�“If approved by the court, this settlement would be the largest settlement with a single entity in American history; it would help repair the damage done to the Gulf economy, sheries, wetlands and wildlife; and it would bring lasting bene ts to the

Gulf region for generations to come,�” she said.

In a statement, Bob Dud-ley, BP�’s group chief execu-tive, called the settlement a �“realistic outcome which provides clarity and certainty for all parties�”.

�“For BP, this agreement will resolve the largest liabili-ties remaining from the tragic accident and enable BP to focus on safely delivering the energy the world needs.�”

�“For the United States and the Gulf in particular, this agreement will deliver a signi cant income stream over many years for further restoration of natural re-sources and for losses related to the spill.�”

Eurozone economic growth speeds up

Eurozone business activity rose at its fastest pace in

four years in June, boosted by higher spending by con-sumers and businesses, a survey has indicated.

The nal Markit com-posite eurozone Purchasing Manages�’ Index, PMI, which combines manufacturing and services activity, rose to 54.2, its highest reading since May 2011.

Any reading above 50 indicates growth, while below 50 points to contraction. Markit said the data pointed to second-quarter economic growth of 0.4 per cent.

It comes despite concerns over the possibility of a messy Greek exit from the euro.

Speculation that Athens would miss a �€1.6bn repay-ment to the International Monetary Fund, IMF, on Tuesday held back manufac-turing activity in the month, Markit said.

But the European Central Bank�’s, ECB, massive �€1 tril-lion bond-buying programme announced in March was beginning to help the service sector, with activity running at its fastest rate since mid-2011.

Markit said the ECB stimulus programme - com-bined with low in ation - had boosted spending and invest-ment across the eurozone, as consumers and businesses splurged their cash in an at-tempt to beat expected price rises.

�“Despite the escalation of the Greek crisis in the second half of the month, the nal PMI for June came in slightly above the �‘ ash�’ estimate, suggesting the turmoil has so far had little discernible impact on the real economy,�”

said Markit�’s chief economist, Chris Williamson.

But he noted companies continued to cut prices to help boost sales, as they have since early 2012.

The composite price index was 49.4, below May�’s read-ing of 49.5, suggesting prices are still falling and that the ECB�’s battle with low in a-tion across the currency bloc has some way to go yet, despite of cial estimates sug-gesting a slight increase in in ation.

Price discounting helped drive up the PMI covering the service industry, which makes up the bulk of the eurozone economy. It rose to 54.4 from May�’s 53.8.

China to probe stock market manipulation

China�’s securities regu-lator will investigate

suspected manipulation of the stock market, state news agency Xinhua reports.

The regulator said late on Thursday that it would be looking into whether parties were mis-selling nancial products.

The benchmark Shang-hai Composite index has slumped about 30 per cent since mid-June, wiping out most of this year�’s gains.

Any criminal cases will be transferred to the police, the regulator said.

The China Securities Regulatory Commission, CSRC, said it would base its investigation on reports of abnormal market movements from the stock market and futures exchanges.

The Shanghai exchange, one of the best performing in the world, more than dou-bled its value in the last 12 months. But the recent losses have wiped out trillions of dollars of share value, said the BBC�’s Martin Patience in Beijing.

Some reports have ac-cused overseas investors of driving prices down by short-selling stocks on Chinese

bourses, meaning they were betting on stocks falling.

The China Financial Fu-tures Exchange, CFFEX, has suspended 19 accounts from short-selling for a month, reports Reuters news agency, citing unnamed sources.

However, analysts say the slump was triggered by con-cerns over in ated valuations and is a correction in the market, which had risen by 150 per cent in the last year.

An editorial in the state-run Global Times has denied that overseas investors, who have limited access to Chi-nese markets, were manipu-lating stocks.

�“Foreign capital has only a small part of the Chinese stock market,�” it said. �“Large-scale short selling by foreign investors in the Chinese stock market has not ap-peared and is an unlikely scenario.�”

The sharp drop in the Shanghai Composite has al-ready triggered policy moves over the past week, including a cut in the cost of borrowing and easing of margin lend-ing rules, making it easier for brokerages to lend money.

However, these moves have failed to stop the sell-off, which is now starting to spill into commodity markets such as iron ore and steel.

AfDB Group approves debt relief for Chad

African Development Bank Group, AfDB, last

Wednesday approved debt relief for the Republic of Chad under the Enhanced Heavily Indebted Poor Country, HIPC, initiative in the amount of $37m, at end 2000 Net Pres-ent Value terms, or approxi-mately $66.04m, in nominal terms.

This follows a joint assess-ment of the country in April 2015 by the IMF and World Bank as having attained the HIPC �‘Completion Point�’, a statement from the bank said.

In reaching the Comple-tion Point, Chad also ful lled the requirements to bene t from additional debt relief under the Multilateral Debt Relief Initiative, MDRI, from the African Development Fund, the International De-velopment Association, IDA and the European Union. Consequently, Chad is quali- ed for a debt cancellation of US $745 million in the form of debt service over 39 years from these creditors.

AfDB Group thus also ap-proved MDRI debt cancella-tion assistance of US $160.09 million, which corresponds to the debt stock owed by Chad to the ADF at the end 2004 �– and the amount that remained payable at the date of the country�’s Completion Point , end April 2015.

The full implementation of the HIPC initiative will have a positive impact on Chad�’s debt sustainability and improve its economic outlook. With better pros-pects for the country�’s public debt, the budgetary resources freed up from the savings on debt service payments could be used to nance develop-ment and poverty reduction programmes as well as in key priority sectors, notably in education; health, includ-ing HIV/AIDS control; basic infrastructure; and rural development.

Since the AfDB Group began its cooperation with Chad in 1976, it has nanced 90 operations (excluding mul-tinational projects) in agricul-ture, transport, multi-sector, social, water and sanitation and communication and mining. Of the 90 operations, 63 have been completed, 12 were partly cancelled and 15 are ongoing.

The HIPC Initiative was launched by the World Bank and IMF in 1996 to create a framework in which all credi-tors, including multilateral creditors, can provide debt relief to the world�’s poorest and most heavily indebted countries, and thereby reduce the constraints on economic growth and pov-erty reduction imposed by the debt-service burdens in these countries. The Initia-tive was modi ed in 1999 to provide key enhancements. Under the MDRI, three mul-tilateral institutions �– the World Bank�’s IDA, the IMF, and the African Development Fund �– provide 100 percent debt relief on eligible debts to countries having reached the HIPC completion point. To date, 30 HIPC countries have reached their comple-tion points.

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Brands intensify market�’s competitive edge drive


BC BC

Brand Watch

Calabar Carnival: Okhma wins marketing rights

Ephraim

Obiomah

Gab-Umoden

Chiazor

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Microsoft, rm reward consumers

GOtv subscribers get two months extra viewing

Stories by David Audu

As the marketing environ-ment gets tougher, brand are strategizing to gain

competitive advantage. This was the thrust of mediaReach OMD and Google Global Services Ni-geria Limited, as the two con-cluded partnership agreement on expanding their frontier in brand marketing recently.

The agreement, christened �“Google Day�” at the mediaR-each of ce in Lagos, will see the two companies collaborate on survival strategies for different brands in the face of stiff com-petition not only in Nigeria but across the world.

MediaReach said the effort will also result in building more digital capabilities, both within the Agency and within the mar-

keting team of clients, while focusing on new products dem-onstration like Google cards, Google Now, Cromecast, among others.

The agency also explained that the partnership will take the relationship between the two companies to the next lev-el on various Google products; and shall leverage for instance, on Youtube beyond advertising and creating content from the consumer context. It will equal-ly stimulate �“brand-connect in the area of Hygiene, Hub and Hero content which consumers would like to see coming from the brand.

In addition, the agreement will strengthen the role of Digi-tal as the line between Of ine and Online is blurring because of the ease at which consumers

now travel within the Physical and Virtual world.

The objective of this effort, the Agency noted, is to strength-en the collaboration between the companies and harvest maxi-mum bene ts to their clients.

Country Manager of Google, Juliet Chiazor, said it is impera-tive for any organisation that will survive to develop a stra-tegic marketing campaign that can stand out in the competitive market.

She noted that custom-ers are faced with a minimum of 2,000 marketing messages streamed on different communi-cation platforms every day.

Chiazor therefore said for any player to excel, its commu-nication must be appropriate and target the right audience.

She declared that television

viewership is slowly declining as audiences are shifting online.

Speci cally, she stated that there is an increase of 60 per-cent of online video streaming that customers are faced with. �“Brand building elements still entail awareness and emotion-al engagement just as the case with traditional marketing plat-forms�”, she said.

Based on this, she advised that video should be seen as an integral part of brand build-ing and should be used more in brand communication.

Corroborating her view, Chief Executive Of cer of mediaReach OMD, Tolu Ogunkoya, averred that there are still many players who are undecided about the relevance of digital brand mar-keting despite its importance in today�’s marketing communica-

tion. His words: �“It is high time we decided to take active steps in the interest of our corpora-tions�”.

GOtv is giving new sub-scribers an elongated viewing experience in

its latest consumer promotion termed, �“GOtv Double Double�”.

From 1 July, every new sub-scriber who buys a complete GOtv set (decoder and antenna) for N4, 500, and pays a one-month subscription toGOtv plus will be rewarded with two months extra viewing. The subscription must however be made at the point of decoder purchase or

within 48 hours after.This means that at the expi-

ration of the rst subscription to the GOtv Plus bouquet, the subscriber will for another two months have access to 42 of the best international and local channels including; AfricaMag-ic Family, AfricaMagic Epic, CNN, Al Jazeera, SuperSport

Select 2, MTV Base, PRTV, Telemundo, Zee World, Discov-ery World, Disney Junior, Nick-

elodeon and many more at no additional cost.

�‘As a trusted digital migra-tion partner, the �“GOtv Double Double�” promo not only allows consumers to access digital television at a price everyone can afford but it also gives them the best possible option for join-ing the digital television revolu-tion�’, said Efe Obiomah, public

relations manager, GOtv.�‘TV lovers who take advan-

tage of this double deal will be welcomed into a world of un-forgettable viewing experiences with our exciting line-up in July, including the �“MTV Africa Music Awards�” and the pre-miere of �“Husbands for Hire�” on Telemundo. The Barclays Pre-mier

League resumes in August and they can look forward to seeing the best variety of sports on GOtv�’, she concluded.

The �“GOtv Double Double�” promo is open to all GOtv sub-scribers in the newly launched towns namely; Epe, Ijebu-Ode, Uromi, Auchi, and all televi-sion lovers across Nigeria seek-ing to join in the digital televi-sion revolution. GOtv currently covers the federal capital terri-tory, Abuja with presence in 24 states including; Lagos, Oyo, Rivers, Edo, Enugu, Kaduna, Kano, Plateau and Benue.

After a series of presenta-tions by several market-ing companies seeking

to handle The Calabar Carnival account,

Cross River State carnival commission, the agency re-sponsible for overseeing the annual Calabar Carnival, have announced Okhma Global Lim-ited, a marketing consulting rm based in Lagos, as Lead Marketing company for the car-nival.

Their responsibilities in-cludes among other, to increase the fund drive by more than eighty percent of current rev-enue accruable from market-ing and also provide Marketing and PR Consultancy/advisory, strategy implementation, Media Content creation, production, Advertising and Sponsorship/ partnership acquisitions.

Managing director of Okhma, Mary Ephraim, in her acceptance promised the com-mission that the marketing team led by her would exceed their expectations. �“For me, leading the marketing effort isn�’t business. It represents

an opportunity for me to con-tribute my professional experi-ence to improve an event and culture I had been part of as a young girl growing up in Cala-bar. This is something I had always wanted to do. We are grateful to the commission for the opportunity�”

Calabar Carnival festival in Nigeria, also tagged �“ Africa�’s Biggest Street Party�”, was cre-ated as part of the vision of making Cross River State in Nigeria, the number one tour-ist destination for Nigerians and tourist all over the world. The carnival, which begins on every 1 December and last till 31 December, has boosted the cultural mosaic of Nigeria peo-ple while entertaining the mil-lions of spectators within and outside the State, and boost-ing industry for all stakehold-ers.

This year marks the elev-enth edition of the multi event carnival that has garnered the reputation and multiple awards of Nigeria�’s biggest and best-organized tourism event. The 2015 coincide with the com-mencement of the new admin-istration of Governor Ben Ay-ade, who said, �“The Carnival is a big brand not only in Ni-geria. My biggest wish now is to make it even much bigger. I would like to see the Calabar carnival evoke same depth and passion as the Rio carnival in the international tourism mar-ket. We promised our people of our state economic transforma-tion. It will gladden our hearts to have tourists visit our state and witness the good things happening here while they also take time to bask in the abun-dance of our offerings at the carnival. And that we will sure-ly do.�”

Microsoft Lumia and Konga.com have teamed up to reward

consumers who purchase the Lumia 540 Dual SIM or the

Lumia 640 XL Dual SIM or any Lumia from Konga.com.

According to Gabriel Gab-Umoden, VP, Marketing, Konga, this partnership with Microsoft Lumia builds on our success-ful #FoundOnKonga campaign, whilst rewarding our custom-ers who have unique stories on their Lumia purchases on Kon-ga.com.

In partnership with our ambassadors, we will pick ve most compelling stories and re-ward them with an all-expense paid experience to London, England.

Mayor Esiaba, Campaign & Activations Lead, West Africa for Microsoft Mobile Devices & Services, reiterated that �“We are very proud of our Lumia smart-phones and how it continues to

empower Nigerians, while con-necting Nigerians to our suite of productivity services and a rich smartphone experience at amazing price points.

�“This partnership with our friends at Konga is our little way of re-enforcing our mission to empower our consumers, en-suring they get the opportunity to be inspired during the course of their visit to what is an amaz-ing city.�”

Also, consumers who buy the Lumia 540 Dual SIM or the Lumia 640 XL Dual SIM from Konga.com, will receive a free Power Bank.

According to Microsoft Lu-mia & Konga.com, this compe-tition is open to consumers who make purchase from June 26th to August 31st, 2015.


BC

Energy Review

FG intensi es transparency drive in NNPC, probes crude swap deal Against the backdrop of the present administration�’s effort to optimize available resources for developmental projects in the country, the Federal Government has beamed its searchlight on the crude oil swap deal of the Nigerian National Petroleum Corporation, NNPC, with a view to ensuring that all its transactions on crude oil conform to public financial regulations and global standards. Gbenga Odogun reports:

Workers at work in an oil rig

Dogara

At the inaugural meeting with State House cor-respondents in Abuja,

President Muhammadu Bu-hari, lamented the state of the treasury which he described as �“empty�”

He also said that the state of the nation�’s nance may slow-down the pace of work as being expected by Nigerians as looted funds have to be recovered rst before any project can be em-barked upon.

In line with his anti-corrup-tion stance, the President said that �“the next few months will be critical but billions of Dollars could be recovered�” adding that the US,UK and other countries where the looted funds were moved to have indicated their willingness to cooperate with the Federal Government in re-patriating the stolen funds.

To give meaning to the s-cal crusade, the rst point of call in search of alleged looted funds by the government is the Nigerian National Petroleum Corporation, NNPC. whose sub-sidiary Pipelines and Products Marketing Company is charged with the responsibility of mar-keting re ned products to local markets.

In recent years, as a way of addressing the perennial fuel shortages due to below capac-ity performance of the nation�’s re neries, the PPMC embarked on crude swap deal to increase supply to the local market.

A swap is an agreement whereby a oating price is ex-changed for a xed price over a speci ed period. It is a nan-

cial arrangement that involves no transfer of physical oil; both parties settle their contractual obligations by means of a trans-fer of cash.

The agreement de nes the volume, duration, xed price, and reference index for the oating price (e.g., ICE Brent). Differences are settled in cash for speci c periods usually monthly, but sometimes quar-terly, semi-annually or annu-ally.

Swaps are also known as �“contracts for differences�” and as �“ xed-for- oating�” con-tracts, terms that summarize the essence of these nancial arrangements. The amount of cash is determined as the differ-ence between the price struck at the initiation of the swap and the settlement of the index.

To this end, the PPMC signed crude swap agreement with nine international com-panies to exchange crude for re ned products mainly gaso-line for domestic consumption the companies are ; Tra gura, Vitol, Aiteo Energy Resources, Mercuria, Glencore, Taleveras Group Nigeria Limited, Sahara Energy Limited, Etena Oil and Gas Limited, Ontario Oil and Gas and Rahmaniya Oil and Gas.

Of the 445,000 barrels of crude oil per day brought by NNPC to meet its domes-tic crude re ning capacity, slightly less than 50 per cent is swapped with commodity trad-ers in exchange for petroleum products which are imported into the country. The other 50

per cent is supposedly re ned by NNPC�’s re neries.

However, the Nigerian Ex-tractive Industries Transpar-ency Initiative, NEITI, disclosed that there was a revenue loss of at least $600 million due to a discrepancy between the value of the crude and the products delivered. The gure was taken from its 2009-2011 and 2012 audits of the oil and gas indus-try, the latest was released this year.

NEITI reported that Nigeria may be losing an estimated $8 billion annually through the crude oil-for-re ned products exchange arrangement, bet-ter known as crude oil swaps, which the Nigerian National Petroleum Corporation (NNPC) has with these oil traders through opaque contracts in which crude oil worth billions of dollars is given to traders in exchange for re ned imports.

This has prompted the an-ti-corruption agency, the Eco-nomic and Financial Crimes Commission, EFCC, and the Directorate of State Security, DSS, to commence a probe of the deal with a view to ascer-taining how much if any money was being lost through the deal

A source with knowledge of the matter said the DSS wanted to nd out how the value of the crude and products was com-puted.

�“It appears that the value of the crude was more than the value of the re ned imported,�” the security source said.

The contracts, known as off-shore processing agreements

(OPAs) are between Pipelines and Product Marketing Co (PPMC), a subsidiary of state-run Nigerian National Petro-leum Corp (NNPC) and three oil trading companies: Sahara Group, Aiteo and Duke Oil, the trading subsidiary of NNPC.

Expired contracts with Swiss trader Tra gura, Taleveras, On-tario Oil and Gas are also being examined, the sources said.

Con rming the probe in a statement last week, NNPC said some of its of cials were invited by the agencies �“to shed light�” on the contracts and that none had been detained or arrested as part of this investigation.

In the same vein, the House of Representatives also re-solved to investigate the al-leged scams by agreeing to set up a committee to investigate whether the government has been short-changed by a state oil company scheme to swap crude for re ned products.

The speaker of the lower house Yakubu Dogara said at the plenary session of the house that the house of parlia-ment had adopted a motion to constitute an ad hoc commit-tee �“to forensically investigate the allegations of malpractice by the Nigerian National Petro-leum Corporation (NNPC), with particular reference to crude oil swap contracts.�”

This follows a motion spon-sored by Michael Enyong, from Akwa Ibom State, in which he stated that crude oil amounting to 445,000 barrels per day was awarded to the nine companies.

He said a barrel of crude

amounts to 159 liters and if a barrel is multiplied by 445,000 barrels, it would amount to 70,775000 liters per day, whereas Nigeria daily consump-tion is 40,000,000 liters per day, what happens to the bal-ance is left to the committee to decide.

It is expected that at the end of the current probe of the transactions or crude swap deals the truth will be made public and prolonged months of speculations about what ac-tually transpired between the PPMC or NNPC and its crude swap traders would be laid to rest nally.

Until then, whatever any-body says about the deal may not be factual enough to reveal the whole truth that the cur-rent transparency agenda of the Buhari administration is set to achieve in the downstream sec-tor of the hydrocarbon resourc-es industry.


BC

Vendors, retailers panic as IT spending dips 5.5%

Isaiah Erhiawarien

The steady increase in the dollar exchange rate, which is making

most vendors of IT products to default in supply, is caus-ing gradual reduction in IT spending by corporate enti-ties and individual big spend-ers in global markets.

For instance, statistics re-leased by Gartner Incorporat-ed at weekend showed that IT spending had dropped by 5.5 percent from 2014.

The decline, which puts worldwide IT spending at a total $3.5 trillion in 2015, is attributed to the rising U.S. dollar. In constant-currency terms, the market is project-ed to grow 2.5 percent.

In Gartner�’s previous forecast in April, it had fore-cast IT spending to decline 1.3 percent in U.S. dollars and grow 3.1 percent in con-stant currency.

Research Vice President at Gartner, John-David Love-lock, said: �“We want to stress that this is not a market crash. Such are the illusions that large swings in the value of the U.S. dollar versus other currencies can create.�”

However, he said that there are secondary effects to the rising U.S. dollar saying that vendors do have to raise prices to protect costs and

margins of their products, and enterprises and consum-ers will have to make new purchase decisions in light of the new prices.

The Gartner Worldwide IT Spending Forecast is the leading indicator of major technology trends across the hardware, software, IT ser-vices and telecom markets of the world.

For more than a decade, global IT and business execu-tives have been using these highly anticipated quarterly reports to recognise market opportunities and challenges, and base their critical busi-ness decisions on proven methodologies rather than guesswork.

According to the report, communications services will continue to be the largest IT spending segment in 2015 with spending at nearly $1.5 trillion adding that this seg-ment is also experiencing the strongest decline among the ve IT sectors.

Gartner said that price erosion and competitive threats are preventing rev-enue growth in proportion to increasing use within most national markets stating that in the device market, mobile phones continue to be the leading segment, with growth in Apple phones, especially in China, keeping overall phone spending consistent.

The report however, noted

that the overall smartphone unit growth will start to at-ten while the PC and tablet market continues to weaken adding that the expected 10 percent increase in aver-age PC pricing in currency-impacted countries is going ahead, delaying purchases even more than expected.

Gartner said that exces-sive PC inventory levels, es-pecially in Western Europe, need to be cleared, which will delay Windows 10 inventory in the second half of the year.

The report revealed that within the data center sys-tems segment, storage and network markets are both ex-pected to see weaker growth in U.S. dollar terms as a re-sult of the appreciation of the U.S. dollar enterprise budgets for data center systems in lo-cal spending are expected to remain stable for the year, with users expected to extend life cycles and defer replace-ments as a means of offset-ting the price increases.

�“The overall near-term data center weakness is slightly offset by a more positive out-look for the server market. The server market is ben-e ting from a stronger-than-expected mainframe refresh cycle, as well as increased expectations for hyper-scale spending�”, said Gartner.

Gartner analysts said that

enterprise software spending is forecast to decline 1.2 per-cent in 2015, with revenue to-taling $310 billion saying that many software vendors will try not to raise prices because software as a service (SaaS) is about market share, not prof-itability.

�“Raising prices could take software vendors out of a sales cycle, and these ven-dors don�’t believe they can af-ford to lose a client�”, said the report.

The report predicted that IT services spending in 2015 is projected to decline 4.3 per-cent, and expects modest in-creased spending on consult-ing in 2015 and 2016, noting that vendors have demon-strated their ability to stimu-late new demand from buyers looking for help with navigat-ing business and technol-ogy complexities, particularly related to building a digital business.

However, Gartner Re-search Vice President said the forecast for implementa-tion services has been slightly reduced adding that buyers prefer solutions that mini-mise time and cost of imple-mentation, driving demand for more-ef cient delivery methods, out-of-the-box im-plementation, and lower-cost solutions.

�“IT activity is stronger than the growth in spending indi-cates. Price declines in major markets like communications and IT services, and switch-ing to �‘as a service�’ delivery, mask the increase in activity,�” he said.

Mr. Patrick Nwafo, a trader at the popular Otigba market in Ikeja, where IT products are sold told Business Cour-age that the trend of sales at the market is not very signi -cant to make any impact on their business.

According to Nwafor, who is the General Secretary of the Computer and Allied Product Dealers, CAPDAN, sales has not improve in the market since the beginning of the year saying that the trend is different from what used to obtain in the market.

He however, attributed the poor sales in the market, which is said to be largest in Africa to the slow take-off of business government saying that money has not be circu-lating in the economy.

Lovelock Nwafor


BC

with Esther Ozue([email protected]) 08059234648 (sms only)

TechnotalkTechnotalkKonga to train less privileged on computer programming

BC

What You Need to Know Before Buying Business Intelligence ,BI, Analytics Tool

Akande

Israni

Glo launches online entertainment portal

Today, large companies as well as small and medium-sized businesses ,SMBs, use business intelligence ,BI, a data analysis process aimed at boosting business performance by helping key decision makers collect, store, retrieve and anal-yse data to make better-informed decisions. A key component of BI analytics initiatives is the tools that are used to help a company assess its business processes, performance, market trends and other factors in order to improve corporate strate-gies and internal operations.

BI analytics tools can be divided into three categories, namely:

Reporting Tools: These generate report-type information in an electronic format that typically supports nance-asso-ciated organisational planning, budgeting and performance management processes. These tools range from simple report generators such as SAP Crystal Reports to the reporting soft-ware built into elaborate enterprise resource planning ,ERP, suites.

Querying Tools: Run frequently used queries to provide analysis of data down to a certain level.

Sophisticated Analytics Tools: These perform does data analysis using such approaches as predictive analytics.

BI InfrastructureSurrounding and supporting these tools is a BI analytics

infrastructure, which should be designed to ensure access to a broad range of data, including on the web and in public clouds. Vendors such as IBM and Microsoft provide support for querying public-cloud data stores and Hadoop big data systems, along with mobile-device support and software. They also offer ways to integrate these technologies with existing BI and analytics systems in-house. BI architecture typically also include, rapid-query-generation development tools, rapid infrastructure build-out capabilities and integra-tion tools to combine data from different data sources e.g., Cisco Composite Server.

The BI analytics tools marketToday�’s BI analytics market is dominated by a few large

vendors with a broad array of products and extensive infra-structure offerings. These include, IBM, Oracle, SAP and Mi-crosoft. Smaller vendors such as MicroStrategy (OLAP-based querying), Birst (public-cloud BI analytics) and SAS (report-ing and statistical analysis) offer competitive tool sets with a narrower focus, while upstart companies such as QlikTech, Tableau Software and Tibco Software�’s Spot re unit have made some noticeable mark with self-service BI and data discovery tools.

Negotiating with the larger vendors will involve initial design and customisation efforts on the part of both buyer and seller. Even in public-cloud cases, you can�’t build an adequate BI analytics system yourself, so you must deal with vendor offerings that include things beyond BI and analytics software. When the cloud isn�’t the only part of the sale, use of implementation services, as well as ongoing provisioning sup-port is likely to be on the table.

Bene ts of BI AnalyticsBI and analytics processes form the core of most com-

panies�’ efforts to leverage information to gain competitive advantages, reduce operational risks and costs, and identify and ne-tune business strategies. More speci cally, well-de-signed BI analytics systems give executives a 360-degree view of the organisation, often with near-real-time updates and alerts. They provide a strong platform for business process analysis and redesign, on-the- y performance management and agile marketing. In addition, they can be used to incorpo-rate feedback from internal end users and external custom-ers into improving such areas as help desk operations and customer experience management.

ConclusionIn summary, in deciding whether you need a BI analyt-

ics tool, and if the answer is yes determining which tool best meets your needs, is often a major strategic decision. How-ever, careful assessment and comparison of vendor products, their t with your needs and their potential for supporting new technologies in the future should make your decision relatively straightforward. To help you determine your needs, it�’s best to take a closer look at the many features BI analyt-ics tools offer, as well as typical use cases for which these tools are optimised. BC

Stories by Isaiah Erhiawarien

Online mall, Konga.com has said that it intends

to train the next generation of computer programmers that will be drawn from orphanage school in the country.

The project, which is part of events to mark its 3rd year anniversary celebrations, will be executed in partnership with Audax Solutions at the Audax Code School. Bene cia-ries of the Konga grant will be between the ages of 9 to 16.

Audax Code School is an initiative of Audax Solu-tions which provides in-depth introduction to computer pro-gramming skills based on the fundamentals of web and mo-bile apps development. With the program, the children will be provided an in-depth introduction to computer programming skills based on the fundamentals of web and mobile apps development.

Konga�’s Head of Public Relations, Olatomiwa Akande noted that the initiative is in line with the company�’s vision �“To utilise internet and mobile technologies to create a pan African platform that enables trade and commerce for mil-lions of sellers and buyers.�”

The Konga�’s third year an-niversary celebrations tagged �‘#KongaBIG3�’ is billed to hold all through the month of July.

Akande recounted that �“Konga started by selling

beauty, personal and baby care products to online shop-pers in Lagos. The company grew quickly with the rapid expansion of product catego-ries and geographic reach. Today Konga delivers prod-ucts to every state in Nigeria and now has a massive array of over 200,000 products listed for sale on its site. We have a strong social media fol-lowership of close to 2 million people�”.

According to her, Konga truly has revolutionised the e-commerce industry in Nigeria with quality products at great prices, innovative offerings and unparalleled services to our customers across the country.

She stated that Konga as an multiple award winning company is growing rapidly with over 700 employees, of ces in Lagos, South Af-rica and China; warehouses and distribution centers all over Nigeria adding that �“the expansion continues with a move to a bigger warehouse facility scheduled this July. This, will enable us cater more ef ciently to the demands of our customers.�”

Recently, Konga launched the �‘Self-Ful ll�’ delivery model, allowing merchants on the site to deliver items pur-chased to a customer directly, facilitating faster and easier delivery system. In order to quell the challenges associat-ed with payment on delivery,

Konga�’s team developed a safe and secure payment platform, tagged KongaPay, which is scheduled for release to the public in the third quarter of 2015.

�“We believe these mile-stones are indeed worthy of celebration for a company that has been in existence for only three years. We recognise that the trust and belief our customers and merchants have in Konga is the key reason we are able to recount this successes as a business; we are very grateful to Nigeri-ans for embracing Konga and ecommerce as a whole�” she said.

Other special activities lined up to celebrate the third anniversary with Konga�’s customers, over 15,000 mer-chants and other partners including three back to back sales events.

Globacom has launched a world class online enter-

tainment portal for the enjoy-ment of its teeming subscribers across the country.

The portal, backed by a robust content aggregating platform tagged Glo Xcite, will offer customers the opportunity of downloading Games, High Resolution Pictures, Latest Music, Videos, Mobile Applica-tions and other Entertainment-related content.

According to Globacom�’s Chief Regional Marketing Of- cer, Mr. Ashok Israni, the portal was carefully developed to be a source of entertainment and excitement to the sub-scribers of the telecommunica-tions company, especially the young and the young-at-heart.

�“This is another solid reason for our teeming customers to feel proud and excited to remain with Globacom. Once you have access to the Internet through mobile devices or com-puters, there can be no dull moment for you on Glo Xcite,

This is a One-Stop Shop for all that you need,�” said Israni.

He said that there is no limit to what subscribers can download at any point in time, adding that different charges apply to download for different services.

Israni stated that the ser-vice can be accessed through Mobile Web as well as Normal Web adding that the customers can give out or share their fa-vourite content with others. It

also offers a unique feature of Free Video Preview which helps customers to know what they would be downloading.

He further explained that subscribers will have access to Glo Xcite content both by subscription as well as by �‘pay per download�’ service.

He explained that irrespec-tive of the operating system on the device, it will be able to ac-cess the entertainment portal 24 hours of the day and every day of the week noting that the content has been carefully ag-gregated to meet the every need of all subscribers.

Israni added that the portal will satisfy music fan, lovers of videos streaming as well as those seeking news, or game lovers saying, �“If you are not for any of these, there are loads of books you may want to check out. When we say there�’s no dull moment with Glo Xcite, we know what we are talking about. So we urge everyone to visit Glo Xcite and join the fun.�”


Continued on pg A14

The golden rule to suc-ceed in life and have ac-cess to the key to unlock the gate of fortunes,

many believe, is to perhaps rst get a good education and prob-ably a good background, this no doubt might have been true of many great and successful in-dividuals.

For Victor Ifeanyi Odili, chairman of Aeromaritime Group, this rule can be said to have applied to him thus mak-ing him to rise to the pinnacle of his of shipping career, becom-ing a celebrated multi-billion-aire, a successful businessman and an uncommon philanthro-pist.

The Ndoni-born renowned economist and business mo-gul no doubt has an intimidat-ing dossier, with vast business empire. He has over the years steadily consolidated this vast business network and trans-formed himself into a very suc-cessful entrepreneur, which is not in any way conjectural but a real fact with proofs to show for it. Odili�’s conglomerate operates under the name Aeromaritime Group of Companies, a parent company to over eight member-companies operating in differ-ent sectosr across Nigeria in-cluding shipping, stevedoring and oil and gas. Aeromaritime owns more than 500 container vessels, 1,400,000 containers and a private-owned terminal to ensure reliable worldwide mari-time services for importers and exporters alike.

Born on June 12, 1935, If-

The silent maritime guru

He started as an employee of a multinational conglomerate of trading companies in far away London, but four years down the line, he left the lucrative job to float a shipping line, essentially to assist the government in decongesting the port during the infamous cement armada of the post-war reconstruction era. Almost four decades after, Victor Ifeanyi Odili has developed his Aeromaritime Group into a conglomerate, with operations spanning across shipping, stevedoring and oil and gas. Yet the business mogul, who was a senator of the Federal Republic, is silent about his wealth

eanyi Odili, popularly referred to as Onwa Ogene of Ndoni, the traditional title he got from his place of birth, Ndoni in Riv-ers State has right from infan-cy been a man imbued with a combination of strong determi-nation, hard work and cour-age. He started his education at Central School Onitsha in present Anambra State before going outside the shores of the country to continue his search for knowledge at Corydon Tech-nical College, London and later to North Western Polytechnic, Kent also in the United King-dom where he nished in 1958. Odili was again at the London School of Economics where he obtained his rst degree in Eco-nomics in 1966.

Starting his working career, in 1970, he joined the Lonrho Group in London and was later deployed to Beirut, Lebanon, where he served for about four years. Convinced that he had been able to garner enough ex-posure and the needed experi-ence, in 1974, he decided to call it quits with paid employment to become employer of labour. Hence, he returned to Nigeria to establish Aeromaritme Group Nigeria, Limited as the chair-man, chief executive of cer same year. As a matter of fact, exploring one of the attributes of a successful entrepreneur, Odili had incorporated Aero-maritime in 1974 essentially to assist the government in decon-gesting the port during the ce-ment armada. Aeromaritime is

Adejuwon Osunnuyi

Odili

Victor Ifeanyi Odili:


BC

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a specialised stevedoring com-pany designed to provide the full complement of services re-quired by ships and shipping concerns, from a welcome into port to documentation, logis-tics, out tting, manpower is-sues, repairs and towing out of port for onwards movement. These shipping husbandry ser-vices are on offer both to vessels owned by companies under the Aeromaritime Group of compa-nies as well as those owned by other principals.

The success of these services had led to the creation of a va-riety of subsidiaries which are better individually specialised to execute each of these tasks. These companies include Braw-al Shipping Nigeria Limited, Brawal Lines Limited, Aeromar-itime Clinics, ANL Stevedoring Nigeria Limited, AB Stevedoring Nigeria Limited, Rope and Rig-ging Nigeria Limited and Braw-al Oil Services Nigeria Limited. The Group, through one of its subsidiaries, Brawal Shipping (Nigeria) Limited, has of ces in Lagos, Warri and Port Harcourt (Onne) and operates Terminals in those parts.

Aeromaritime Group�’s in-tense desire to completely participate in all facets of the maritime industry led to the incorporation of Brawal Lines limited in 1989. This was fol-lowed by the granting of Nation-al carrier status by the National Maritime Authority in the same year after satisfying the criteria for recognition.

Odili�’s Aeromaritime Group through another of its subsid-iaries, Brawal Lines Limited, is also owners of ocean going ves-sel MV Ndoni River while the company is the biggest single shareholder in the Baco Liners which provide one of the most ef cient liner services between Europe and West Africa with particular interest in the Nige-rian Traf c. Brawal Lines also charter vessels to complement her own tonnage whenever there is demand in the freight Market.

As a leading African ship-ping house, Aeromaritime Group offers its customers second-to-none door-to-door transportation service. With more than 500 container ves-sels, 1,400,000 containers and its own terminals, trucks and trains, the rm ensures that its customers get a reliable world-wide coverage as its of ces all over West Africa ensure that they receive excellent service wherever they may be.

With its advanced e-busi-ness solutions, most customers have attested to their having access to accurate, online infor-mation and the opportunity to do business with them at their convenience as the rm offers a comprehensive suite of busi-ness tools on the web, desktop as well as Electronic Data Inter-change (EDI).

Partners of Aeromaritime

include BACO Liner, CN Ship-ping, Overseas Maritime Trans-port (O.M.T) and Cargo Levant. While BACO (BArge Container carrier) Liner offers an unlimit-ed range of transport possibili-ties and is independent of port situations through its barges and special on board gantry crane, each ship has 3 sets of barges including one being po-sitioned in the loading port, one on board and the other in the discharging port.

The barges are suitable for inland waterways and river estuaries as the loading and discharging of the barges from the carrier is achieved within hours.

For CN Shipping, a company which was formed in 1978 by Tom Hodge and Ken Jaffa, it�’s rst Liner Agency appointment was LCA serving West Africa with regular conventional ves-sels and this was later replaced by BACO LINER. A short while later, the agency was strength-ened with the inclusion of two other Liner services: Flamar (now CEC/Flamar), who oper-ates regular modern multipur-pose vessels to North Africa and Eastern Med and Jordan Na-tional Line, who offered month-ly sailings to Aqaba and other Red Sea destinations.

CN Shipping�’s core business area has been Africa, especially

Nigeria, and with over 26 years of experience they are still as excited with this business as when it was rst formed. Today, they offer clients a complete service through professional staff that have grown with the company and the trade routes served.

For Overseas Maritime Transport (O.M.T) N.V. found-ed in 1993 by several shipping �‘oriented�’ people who have been active in the shipping business for many years, ever since it was founded, Overseas Mari-time Transport (O.M.T) N.V. has been expanding and di-versifying. O.M.T started its activities with a steel service

form the North-Continent to the U.S. East Coast and Gulf. Meanwhile, Overseas Maritime Transport (O.M.T) N.V. is rep-resenting many major market leaders in the conventional and containerised business.

For Brawal Lines Limited, it was incorporated in 1989 in other to ensure complete partic-ipation in all facets of the mari-time industry. Brawal Lines Limited, were owners of ocean going vessel �– M/V Ndoni River and above all, it is renowned as the biggest single shareholder in the Baco Liners which pro-vide one of the most ef cient liner services between Europe and West Africa with particular

interest in the Nigerian Traf c. Brawal Lines also charter ves-sels to complement her own tonnage whenever there is de-mand in the freight Market.

To Odili, there is no deny-ing the fact that over the years, �“Our organisation has been a unique shipping company in the sense that apart from ren-dering the usual shipping ser-vices, Brawal Shipping (Nigeria) Limited provides Agency ser-vices for Baco Liner Vessels and other principals. The company also operates Lighter terminals in Lagos, Port Harcourt (Onne) and Warri. In addition, it oper-ates oil base terminals in the major ports of Nigeria thereby contributing signi cantly to the development of the oil industry in Nigeria.

�“We have representative of- ces and agents in all major ports of the world to cater for the special needs of our cus-tomers. Brawal Shipping Nige-ria Limited provides lighterage services in all Nigerian Ports and has a large eet of barges and tugboats available for hire to the public.�”

Aside the maritime and Oil and gas terrain which Odili is notably known for, he also had a sojourn into the nance world as he established now defunct Liberty Bank and International Bank, the two banks that went with the wind of former Central Bank of Nigeria, CBN Governor, Charles Soludo�’s banking re-form programme in 2008. How-ever, in a move to bring relief to the depositors of the failed banks, United Bank for Africa (UBA) Plc, West Africa�’s largest bank had to acquire the Liberty Bank Plc (in liquidation). UBA had won the bid to acquire the bank under the Purchase and Assumption arrangement of the Central Bank of Nigeria (CBN) and Nigerian Deposit In-surance Corporation (NDIC).

In line with the Purchase and Assumption scheme, UBA had acquired the physi-cal assets, including all the 17 branches of Liberty Bank, and also assumed the private sector deposit liabilities of the bank.

The bank had noted that though the acquisition of banks under the P&A was a commer-cial decision, it also served as the bank�’s contribution towards bringing relief to the depositors of the banks in liquidation after a long and anxious wait.

While Odili is noted to have served as elected senator of the federal republic of Nigeria be-tween 1979 and 1983, the Lon-don School of Economics trained businessman is also the Director of a several successful compa-nies in both Nigeria and overseas including Baco Line of Germany and MTN Nigeria Limited.

Married and blessed with children among whom is a medical doctor, Chief (Dr) Vic-tor Odili is also a proud recipi-ent of the Of cer of the Order of the Niger, (OON).

Convinced that he had been able to garner enough exposure and the needed experience, in 1974, he decided to call it quits with paid employment to become employer of labour. Hence, he returned to Nigeria to establish Aeromaritme Group Nigeria, Limited as the chairman, chief executive of cer same year

Odili


ThebuddingEntrepreneurs

Motivational Business Quotes

BC

The golden rule for every business man is this: �“Put yourself in your customer�’s

place. �– Orison Swett Marden

I had to make my own living and my own opportunity! But I made it! Don�’t sit down and wait for the opportunities to come. Get up and make them! �– C.J. Walker

The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you nd something you love to do, be the best at doing it. �– Debbi Fields

Life is too complicated not to be orderly. �– Martha Stewart

The winners in life think constantly in

terms of I can, I will, and I am. Losers, on the other hand, concentrate their wak-ing thoughts on what they should have or would have done, or what they can�’t do. �– Dennis Waitley

Business opportunities are like buses, there�’s always another one coming. �– Rich-ard Branson

Leadership is doing what is right when no one is watching. �– George Van Valken-burg

There is no royal, ower-strewn path to success. And if there is, I have not found it. For if I have accomplished anything in life, it is because I have been willing to work hard. �– C.J. Walker

B U S I N E S SMamora is a system thinker and advisor whose belief and activator leadership strengths are directed towards improving workers perspective for city and enterprise development. e-mail: [email protected]

K L I N I CWith Mamora Victor On-work training

improves you

‘

‘ Dear friend, at times, you need to humbly accept the reality that going through tough times in business helps shape your perspective and an opportunity to be trained for problem solving

BC

A man found a cocoon for a butter y. One day, a small open-

ing appeared, he sat and watched the butter y for several hours as it struggled to force its body through the little hole. Then it seemed to stop making any progress. It appeared stuck.

The man decided to help the butter y, and with a pair of scissors, he cut open the cocoon. The butter y then emerged easily. But some-thing was strange. The but-ter y had a swollen body and shrivelled wings. The man watched the butter y, ex-pecting it to take on its cor-rect proportions. But noth-ing changed.

The butter y stayed the same. It was never able to y. In his kindness and haste, the man did not realise that the butter y�’s struggle to walk through the small co-coon is a systematic pro-cess of forcing uids from the body of the butter y into the wings so that it would be ready for ight. The quick x limits the potential of the butter y to go on rst ight.

Dear friend, at times, you need to humbly accept the reality that going through tough times in business helps shape your perspec-tive and an opportunity to be trained for problem solv-ing. The challenge with many entrepreneurs is that �‘quick- x- people�’ who showed up don�’t allow personal creativ-ity to develop. You better be trained to solve problems with people than have people do it and vanish.

It is time to tell people who are afraid for your failure to allow you do your business. This is because the prob-lem you solved is the one you conquered. Work helps people become original when drawing out their innate abil-ities through responsibility. Works trains your mind and improves your productivity.

This July edition is about improving your private life

and entrepreneurial skill via both formal and informal training while doing your work.

Training is developing in oneself or others. The fact is that training starts with hav-ing the right perspective to work and with a speci c goal of improving one�’s capability, capacity, productivity and performance.

From the beginning of cre-ation of earth systems, the living men and women have worked in three different dominant economic cultures and have been trained to view issues from diverse per-spectives, productivity and improvement. I will quickly explain these.

The rst economic sys-tem was shaped by agri-culture dominant culture. In agriculture dominance age, land cultivation was the rst recognised services that people engaged in and it was all about growing crops. This work of growing crops became a dominant venture and the language of entrepreneurs was all about growing up. Today, we expect our businesses to grow just as the planted seeds grow. People who lived in the pre-industrial period became �“growers�” because of the on-

work-training that took place in farm working situation.

The second economic sys-tem was shaped by manu-facturing dominant venture. Factory sprang up when iron ore, coal, and crude oil were discovered. The discoveries of natural energy and its pro-ductivity capacity motivated people to move from farm into factories and the prevalent culture of growers subsided to the new culture of man-ufacturing. A lot of people became �“makers�” because a new on-work-training sys-tem improves their capabil-ity for manufacturing. �“Made in Nigeria�” or �“Manufactured in Nigeria�” is an expression of manufacturing dominant venture. Prospective entre-preneurs became makers via on-work-training in factories and left to start other manu-facturing ventures.

The third economic sys-

tem is the present knowledge

age shaped by information and thinking dominant ven-tures. Today, every enter-prise system that leads and desire to lead in his product and service category have an expectation from every em-ployee and it is to take initia-tive. In the present economic system, you can develop en-terprise by the quality of your thinking. Really, thinking is the dominant culture for maximising opportunities in any business irrespective of geographical location. Today, thinking dominant venture entrepreneurs improve be-cause of the on-work-train-ing that takes place in strate-gic thinking work situation.

Microsoft, Oracle, Apple, Facebook, Google, Samsung, Wal-Mart, UPS, Toyota are examples of business sys-tems processes that are rel-evant because of quality of thinkers involved in products and services development. Toyota says �“Good thinking,

Good product�”. �“As a man think, so is he,�”-Holy Bible.

My question to you: what is your work situation train-ing you to become? The fact is that every time you show up in the work place as either employer or employee, you are training and improving yourself to become a lead-er, helper, nation builder, wealth manager just to men-tion few. My encouragement is that you must be deliber-ate about how work trains and improve your life and venture. Here are the four steps to maximise informal on-work training.

Ask and answer your

Why, What, Who QuestionsWhy am I interested in

that venture or work? What potential or skill am I deploy-ing there? Who do I want to become there?

Answer Opportunity

QuestionWhat are the experience

and exposure opportunities in this? What is the nancial bene t opportunity for me? Is this an opportunity to take worthwhile responsibilities and experience personal ful- lment in the venture?

Answer Responsibility

QuestionCan I understand my core

responsibilities in this ven-ture or work? Can I add more as opportunities to engage my untested potential?

Answer Known-for Ques-

tionWhat would I be known

for after every day? Who do I become after months of prac-tice and functions?

These questions when sincerely answered will make work informal training enjoy-able and eventually improves your private life and venture. My encouragement is that you should see daily respon-sibility at work as training for improvement. Be courageous today.


ThebuddingEntrepreneurs

Management Principles

Prince Wale Muftau Bello, CEO, MSH & H, is not your everyday businessman. Though he’s in the real estate sector, which is a very lucrative sector, Bello, who’s also a politician, is not into the sector primarily to make money, but to contribute his quota solving Nigeria’s housing problem. He tells Oseyiza Oogbodo his experiences and effort in addressing the critical housing problem in the country

My dream is for every Nigerian to own a house – Bello

Major organisational control techniquesControl techniques provide managers with the type and amount of

information they need to measure and monitor performance. The in-formation from various controls must be tailored to a specific management level, department,

unit, or operation.To ensure complete and consistent information, organisations often use standardised documents

such as financial, status, and project reports. Each area within an organization, however, uses its own specific control techniques, described in the following sections.

After the organisation has strategies in place to reach its goals, funds are set aside for the nec-essary resources and labour. As money is spent, statements are updated to reflect how much was spent, how it was spent, and what it obtained. Managers use these financial statements, such as an income statement or balance sheet, to monitor the progress of programs and plans. Financial state-ments provide management with information to monitor financial resources and activities. The in-come statement shows the results of the organisation’s operations over a period of time, such as rev-enues, expenses, and profit or loss. The balance sheet shows what the organization is worth (assets) at a single point in time, and the extent to which those assets were financed through debt (liabilities) or owner’s investment (equity).

Financial audits, or formal investigations, are regularly conducted to ensure that financial man-agement practices follow generally accepted procedures, policies, laws, and ethical guidelines. Audits may be conducted internally or externally. Financial ratio analysis examines the relationship between specific figures on the financial statements and helps explain the significance of those figures:

*Liquidity ratios measure an organisation’s ability to generate cash.*Profitability ratios measure an organisation’s ability to generate profits.*Debt ratios measure an organisation’s ability to pay its debts.

Budget controls: A budget depicts how much an organization expects to spend (expenses) and earn (revenues) over a time period. Amounts are categorized according to the type of business activity or account, such as telephone costs or sales of catalogs. Budgets not only help managers plan their finances, but also help them keep track of their overall spending.

By every standard, Prince Wale Muftau Bello is no doubt an astute entre-

preneur. Though he studied accountancy at the Lagos State Polytechnic, due to the passion he has always had in seeing ev-ery Nigerian owns at least a de-cent home to himself or herself, shortly before he graduated, in 2008, he delved into the entre-preneurial terrain, doing what he had loved doing most, real estate. He established his firm called MSH & H.

“I’m basically into what I can call the lifeline of every indi-vidual. We know that after food and clothing, the next thing is shelter, where a man lives, where he heads to after work or the business of the day. I’m into property, buying and selling of land, and anything that con-cerns property,” he explained.

Interestingly, aside the pas-sion he had developed for the job, Bello’s parents were instru-mental to his going into the real estate business.

“My parents were instru-mental in my venturing into the business. When I was growing up, my mother was into inte-rior decoration, my father into paint-making, and I used to as-sist them in both these ventures and I picked both from them. So when I decided to go into busi-ness myself, it was already part of me through my work for my parents.”

Speaking on whether go-ing into the real estate busi-ness has been easy as a result of the experience he has had, Bello told Business Courage it hasn’t been all that rossy.

“No, it’s not that easy. But in every business, you have to

have perseverance, patience and persistence. Those are the three Ps that will help you suc-ceed. It won’t be easy at the beginning, but when you have those three Ps, definitely you’ll achieve your set goals, and you’ll be known not just in Ni-geria, but all over the world.”

On his achievements so far, he noted, “It depends on what you call achievement. It’s not until you build a skyscraper be-fore you’ll say you’ve achieved. What I’ve been able to achieve is that I’ve been able to ensure that lots of people are able to achieve their dream of owning their own homes at a time when they thought they can’t.

“I have been able to edu-cate them on the need to se-cure their future through own-ing their own property. There’s nothing as fulfilling as having a customer that patronises you refer you to another, and you see them continuously, and you have a cordial relationship. That’s what makes a business grow. So, business growth, I’ve achieved that, and lots of other things.” He said.

Being versatile on the job, Bello’s worry has been the fact at present, Nigeria is having housing deficit to the tune of millions of housing units. How-ever, the ......boss believes he is having solutions to such prob-lem.

“Yes, I’m aware of the hous-ing deficit in the country. Last year, I was in Abuja when the Federal Government said they are going to build certain units to cushion the effects of the housing deficit, but it never saw the light of day. There are differ-ent solutions that can solve this

problem. One of them is by en-couraging the local contents of what we use in building. When we build sometimes, we use for-eign materials and companies, it makes it expensive.

“ What I think they can do is to make sure the local content is more and they should make sure our local companies have more stake, that means that we should believe in ourselves. Secondly, we can curb the defi-cit by making low cost housing units available than what we have now. What we have today are not low cost houses be-cause when houses go between five and eight million naira, you cannot call that low cost again, when someone is earning below a million naira annually, such person cannot afford it.

“The government should en-sure the amount at which they give out the houses is cheaper than what we have now and how can they achieve that? It is by emphasising on the out-skirts, away from the cities and that is how we can bring devel-opment into those areas as well.

“You cannot say that gov-ernment should build at a loss Bello


ThebuddingEntrepreneursPersonal Finance

Bello

BC

A budget, in reality, is both a planning tool and a control mecha-nism. Budget development processes vary among organizations ac-cording to who does the budgeting and how the nancial resources are allocated. Some budget development methods are as follows:

*Top-down budgeting. Managers prepare the budget and send it to subordinates.

*Bottom-up budgeting. Figures come from the lower levels and are adjusted and coordinated as they move up the hierarchy.

*Zero-based budgeting. Managers develop each new budget by justifying the projected allocation against its contribution to depart-mental or organisational goals.

*Flexible budgeting. Any budget exercise can incorporate exible budgets, which set �“meet or beat�” standards that can be compared to expenditures.

Marketing controls: Marketing controls help monitor progress toward goals for customer satisfaction with products and services, prices, and delivery. The following are examples of controls used to evaluate an organisation�’s marketing functions:

*Market research gathers data to assess customer needs�—informa-tion critical to an organization�’s success. Ongoing market research re ects how well an organization is meeting customers�’ expectations and helps anticipate customer needs. It also helps identify competitors.

*Test marketing is small-scale product marketing to assess custom-er acceptance. Using surveys and focus groups, test marketing goes beyond identifying general requirements and looks at what (or who) actually in uences buying decisions.

Marketing statistics measure performance by compiling data and analyzing results. In most cases, competency with a computer spread-sheet program is all a manager needs. Managers look at marketing ratios, which measure pro tability, activity, and market shares, as well as sales quotas, which measure progress toward sales goals and assist with inventory controls.

Unfortunately, scheduling a regular evaluation of an organization�’s marketing program is easier to recommend than to execute. Usually, only a crisis, such as increased competition or a sales drop, forces a company to take a closer look at its marketing program. However, more regular evaluations help minimize the number of marketing problems. BC

How to liquidate your business assets

Before shutting the doors of your business for the last time, it�’s important to know how to liquidate your business assets so that you

will recover the maximum amount possible. The following is a quick overview of the steps involved in liquidating assets.

Seek professional adviceIf your liquidation involves formal insolvency,

you�’ll need the services of an Insolvency Practitio-ner (IP) to help draw up a liquidation plan. Your plan will need to be accepted by a majority of your remaining creditors before the liquidation process can begin. Note: Selling off assets without acquiring consent beforehand will get you in legal hot water.

Draw up an inventoryPrior to disposing of any assets, you should

carefully document everything that you have. Take photos of all tangible assets such as buildings, equipment, furniture, and vehicles, and include descriptions as well as serial numbers if available. You will need this information to help you keep track of your assets during the liquidation process and to ensure that nothing is stolen or goes miss-ing. Documenting your inventory is also essential to satisfy the tax authorities as well as any creditors who may want con rmation of your assets before dispose of them.

In addition to your material assets, you will also need to consider the potential worth of any intan-gible assets. Customer lists, patents, business trademarks, licenses, permits, and anything else that adds value to your business are assets that you may be able to sell to similar businesses or inter-ested parties.

Consider what to sell and what not to sell Not all your assets will be worth selling and

you might be better off donating any inventory or furniture that�’s not in sellable condition. Donating low-value items will also get you a tax break when it comes to ling your returns.

If you have items on credit or leased with an op-tion to buy, determine whether it makes more sense to have the items repossessed or to buy them out-right and resell them. If you�’ve already made a lot of payments, you can probably recover more money by reselling the items yourself.

Assess your assets�’ value You can work out the liquidation value of any

remaining assets by attending liquidation sale auc-tions or by visiting similar online sites. For your intangible assets, contacting interested parties directly may yield better results. If you have a lot of assets to sell, consider hiring a quali ed appraiser or a dedicated liquidation company to handle every-thing for you.

Consider the best type of sale Choosing the most appropriate way to sell your

assets will also make a big difference in their nal worth. Internet sales have become increasingly popular and will help minimize costs, but public auctions might also be an appropriate route. �“Clos-ing Down Sales�” are best for everyday consumer goods. Finally, don�’t forget to advertise your sale in advance and choose the most suitable day for pro-spective buyers in order to make the most of your liquidation sale. BC

too; a lot of factors are involved to make houses cheaper. They also need to put more into mortgage, whereby people can pay for their houses over a period of time and when it is considerable, people would be able to own their houses easily.�”

Since Bello is in support of local contractors like himself handling the nation�’s constructions, while Business Courage was quick to point out to him the allegation against the local contractors being responsible for the constant col-lapses of building in the country, to Bello, such blame cannot be ac-cross board.

�“In any profession,�” he said, �“you have those that are profes-sionals and you have those that are road side. This also affects construction. There is a general body that handles construction, if they ensure people follow stan-dards and procedures, we are go-ing to be able to reduce issues of collapse buildings.

�“But when you want to raise a bungalow to a three-story build-ing, so as to save cost, there is go-ing to be problems, people should ensure they patronise profession-als and not roadside builders. We secure lives and property when standard is put in place.�”

Speaking on if Nigeria could achieve affordable houses with ce-ment and the other building ma-terials currently in vogue in the nation, he said, �“I was supposed to have said this earlier. I think we need to move away from the tradition of using cement. And all

these materials we use here. Mud bricks are affordable and cheaper, they save lots of cost, and using it, we would be able to build more. There is also the wood option as well; this is common in some for-eign countries. Wood and bricks can be used to build and they are going to reduce the housing de -cit we have in the country today. I think we have to diversify.�”

Regarding his current projects, he said, �“We have 50 plots of land at Mowe, Ogun State. The beauty of it is that where the land is lo-cated is accessible and it is su-per cheap. We have made it this way so that an average Nigerian could be able to build. It is close

to Abeokuta, Ojota, Lagos Island through the express, and it will be a good place to live.�”

Since omo oniles are one of the hazards of the real estate sector, he explains how they affect him.

�“The omo onile thing is a cul-ture that has been for a long time. We ensure that the head of the family is carried along and we make them know what we are doing is to bring development to their community. So we don�’t re-ally have any problem with omo oniles in our own case. We also have land across the country. We have in Kwara, Abuja, Lagos State.�”

And since mortgage makes it easier for more people to have ac-cess to owning their own homes, BC asked him if his company has a mortgage structure in place.

�“Yes, it would be easier for peo-ple to get houses through mort-gage,�” he admitted, �“but presently we don�’t have any mortgage in place, but we are working towards that so that people can be able to spread their payment and become owners of houses easily. We are working on that.�”

Concerning how real estate en-trepreneurs sell land but the buy-ers are forever in their hold due to unspoken agreements, Bello said that he doesn�’t engage in such practice.

�“In our own case, every land-lord is independent, has his own light, water and all that can make his family comfortable. Whatever we are doing is based on agree-ment, what we emphasise is for them to have a standard. There is an association for the land-lords that would be responsible for their security dues on their own discretion, they are decid-ing on their own, immediately we sell to them, they are indepen-dent. When you look at the land we are talking about, it�’s going to exist and go on even after us. All we have in life are borrowed. As soon as we sell, we back off, let them have independent of what they want to do. In our own situ-ation, once we sell, we back off, no issue of omo oniles, we ensure that all legal documents are well procured from the state govern-ment and we pass accordingly to the landlords.�”

Concluding, he advised the government on the nation�’s hous-ing issues, saying, �“We know at this point the country is going through hard times and it�’s going to take time to get over it and my advice for the new government is to speed up the recovery process. So, as soon everything is in place, we know that the priority is: after education and health, the next is the issue of housing, so that the millions of Nigerians without their own homes can have shel-ter over them. It has a negative effect on the nation when people are not well housed. If Nigerians and the teeming youths are well catered and well housed, it would go a long way to solving our prob-lems.�”


Behind d WheelsThis page is open to sponsorship

Adejuwon Osunnuyi

Mazda�’s original MX-5 has rewritten the book on affordable

sports cars. Then, through two more generations, the story lost a little of its focus. With the all-new fourth-generation ND-series MX-5, however, the world�’s best-selling roadster has returned to its essential best and the result is an en-gaging, responsive, entertain-ing and value-packed sporty which in 2.0-litre engine form delivers signi cant perfor-mance gains. Pricing is yet to be con rmed but don�’t expect to pay a huge premium .

Nonetheless, that you have a choice is a major change for the car-maker and a rst for �‘the little roadster that could�’ locally.

In very simple terms, in the 1.5, Mazda has built an MX-5 for purists. The 2.0-litre car on the other hand is aimed at enthusiasts who want the MX-5 experience at a higher rate of knots.

Aside from the engines themselves, the list isn�’t long. The 2.0-litre cars will arrive with 17-inch rather than the 1.5�’s 16-inch alloy wheels and there is a corresponding

tyre size

change �– from 195/50 to 205/45-sec-tion. In addition, a brake package upgrade sees the disc rotor sizes increase from 258/255mm front/rear to 280mm all around.

Gearbox and nal drive ra-tios are unchanged. There�’s likely some spring and damp-er tuning to cope with the add-ed mass of the larger 2.0-litre engine but Mazda is keeping those details to itself.

Powered by a wonder-fully responsive and eager 96kW/150Nm direct-injected petrol engine, the 1.5-litre car displays exquisite balance and better than decent real-

world performance. Indeed, where the most recent couple of generations of MX-5s may have strayed a little from the path, the new 1.5 is absolutely true to the company�’s original 1989 concept of Jinba Ittai �– the often joked about �‘horse and rider as one�’.

This is in a large part thanks to a ready-to-roll weight of just over 1000kg. The 2.0-litre car adds only 25kg (plus another 15 if auto idle-stop is speci ed).

The magnitude of this achievement is demonstrated by the fact the MX-5 betters all but a handful of much more expensive and signi cantly

less liveable sports car al-

ternatives and yet requires no real sacri ces from a buyer.

There�’s a full-spec fully-integrated infotainment sys-tem, airbags, reverse sen-sors, cruise control lumped into the total mass and even lane departure warning and other safety systems available on the car. Oh, and the roof is draft-free, can be raised or lowered one-handed in sec-onds and works a treat (Alfa Romeo 4C fans take note).

With more than enough performance to keep you en-tertained, the 1.5�’s emphasis is rmly on tactile response. No surprise then that for

MX-5 development program head, No-

buhiro

Yamamato, it�’s this 1.5-litre version that rep-resents the most �‘pure�’ of the new generation.

So what of the inevitably more expensive 2.0-litre car? Is it a nose-heavy aberration? Does the 22 per cent more powerful and 25 per cent more torquey 2.0-litre version misses the mark?

No�… The great news is that it is just more of a good thing. Yes, there are handling, ride and steering differences but none of a magnitude that spoil the party.

There�’s real precision to the way the both cars react to control inputs but purists will argue the 1.5�’s absolute-

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tyre size

change �– from 195/50 to 205/45-sec-tion. In addition, a brake package upgrade sees the disc rotor sizes increase from 258/255 f /

world performance. Indeed,where the most recent coupleof generations of MX-5s may have strayed a little from thepath, the new 1.5 is absolutely

less liveable sports car al-

ternatives and yet requires no real sacri ces from a buyer.

There�’s a full-spec fully-integrated infotainment sys-

i b

MX-5 development program head, No-

buhiro

Yamamato, it�’s this 1.5-litre version that rep-resents the most �‘pure�’ of the new generation.

So what of the inevitably more expensive 2.0-litre car?I i h b i ?


Autocare

Behind d WheelsThis page is open to sponsorship

BC

Caring for modern engines

The majority of the time most of us don�’t spend a lot of time thinking about our engines. We hop into the car, turn the key and head out to wherever we�’re

going. When we do notice the engine, however, it�’s usually when we hear it making sounds we�’re not accustomed to hearing or when the car feels a little different than it did before.

Engines need to be looked after. They need a check-up every now and then, and they also require some regular maintenance to keep them in good running condition.

Engine bay detailing is not something many people do. This may be because it seems like a lot of hard work when very few people will see it, or because the task appears to be too challenging. However, a clean engine bay can add to the value of your car when it comes to selling it and undoubtedly makes servicing easier. In this guide read about how to clean your engine using degreasers, how to rinse off your engine safely using a hose, and how to clean and protect plastic trims and rubber hoses, all in under an hour.

Many people rmly believe that engines and water do not mix. To a certain extent this is true. Anyone who has hit deep standing water and suffered a bent connect-ing rod as a result of water being drawn into the engine through the air intake will testify to this.

However, as long as water isn�’t drawn into the engine, or allowed to saturate electrical contacts, it will not cause any problems. The proof of this can be seen on cars like the Lotus Elise, where the engine bay is effectively open to the atmosphere (and therefore rainfall) due to the number of cooling vents in the cover.

So, what does this mean for engine bay detailing? Well, it means that you can hose off the engine bay without fear of causing any damage, providing that you cover the air intake and any sensitive electrical parts rst.

Safe in the knowledge that you can safely hose your engine bay off, the next question you might ask is how will this help? Surely grease and grime cannot simply be hosed off? The answer is it can�’t; what you need to do rst is break down the grease and grime using a degreaser.

Up until fairly recently engine degreasers generally comprised potent mixtures of aggressive solvents, which were tremendously effective at cleaning but not very safe to work with and also not at all environmentally friendly.

Fortunately, progress has been made to the extent that it is now possible to buy degreasers that comprise advanced detergent formulas and natural solvents, which makes them more environmentally friendly and safer to work with. The cleaning power of these products is almost as good as that of traditional degreasers provided they are agitated and given suf cient time to work.

Once the engine bay is clean and dry, all you nally need to do is dress and protect all of the surfaces. This is very straightforward, as you are dealing with materials that are found elsewhere on your car, namely plastics, rubber, metals, and painted surfaces. As such, you can use the same detailing products to great effect.

Painted surfaces can easily and quickly be protected using a sealant or wax. Plastic engine covers and com-ponents can be restored to as new condition using a trim restorer or a surface dressing. Rubber hoses can be nourished and protected using a surface dressing or a tyre dressing.

Most metal surfaces can be polished and protected using metal polishes and sealants, although this often requires more elbow grease (we frequently use a Dremel power tool in order to make lighter work of metal polish-ing duties) BC

ly pure steering response is dulled ever so slightly in the 2.0-litre.

Turn-in is still accurate, but the almost instinctive re-action of the smaller car is not as obvious. We also not-ed some degradation of ride quality on the 2.0-litre�’s 17-inch rubber.

That�’s not to say overall the 2.0-litre�’s chassis should be deemed inferior �– just different. Indeed, drive the 2.0-litre car in isolation and if you�’re a keen driver you�’ll be entranced. Even more so when those extra Newton-me-tres translate to just a smidge of line-tightening oversteer on the exit of your favourite cor-ner.

Of course, the reason many will opt for the 2.0 ini-

tially is that extra urge and straight-line performance. With 118kW and 200Nm, the 2.0-litre has a signi cant en-gine-room advantage over the 1.5. On paper this translates to better 0-100km/h times (7.3 v 8.3sec) and higher top speed (214 v 204km/h).

Although the 2.0-litre is also thirstier, the margin�’s not likely to break the bank �— 6.6L/100km for idle-stop ver-sions versus 6.0.

While the MX-5 �‘experi-ence�’ has never been about outright power or straight-line performance, in the real world there�’s no escaping the fact the 2.0-litre accesses this per-formance more readily.

I�’m a great fan of the new MX-5�’s ri e-bolt-like, short-throw gear change in the 1.5, but you can afford to be

a touch lazier when driving the 2.0-litre car. There�’s more torque available right across the rev-range and as well as the shenanigans alluded to above, this manifests itself via a signi cant point-to-point pace advantage.

The 2.0-litre also ups the performance-oriented ante with a more �‘talkative�’ power-train. There�’s an extra dose of induction growl and a touch more rasp to the exhaust note, which is pretty addictive.

Bottom line is demand-ing roads put a smile on your face in both cars. Indeed, if in simplest 1.5-litre form the new MX-5 demonstrates ev-erything is on target again for the world�’s most popular roadster, the 2.0-litre slams the point home.

As far as accessible, afford-able open-air sports car per-formance goes, the MX-5 is again in a class of its own.

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a touch lazier when driving the 2.0-litre car. There�’s moretorque available right acrossh d ll

ligious organisations while ac-knowledging the need for the code and regulation said that it would be better if religious organisations are treated sepa-rately from other NFPOs consid-ering its peculiarity.

Also at a one-day public hear-ing on the draft National Code of Corporate Governance (NCCG) for private and public sector en-tities in Lagos last Tuesday not-ed that the concept of good cor-porate governance is essential to the wellbeing of companies and their stakeholders.

�“Recent events in some parts of the world including our coun-try, have brought to the fore the need for sound corporate gover-nance in modern society. This is the reason for the insight into the public sector and not-for-pro t organisations hitherto not in the public purview.�”

The nancial reporting coun-cil chairman also advocated for the enhanced growth of the economy, which is the thrust in the proposed NCCG.


REGULATORS

NAICOM tasks stakeholders on insurance awareness

NCCG ll�’ provide framework for accountability �– FRC

Daniel

Ladi-Ibrahim

Eresia-Eke

BC

BC

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NSC, NPA to negotiate tariffs at ports

Nigeria LNG clari es role in Dry Dock project

The Commissioner for In-surance, Mr. Fola Daniel, has called on stakeholders

to invest more in awareness so as to increase the level of insur-ance penetration in the country.

This is coming on the heels of the recent petrol tanker re accidents in some parts of the country that destroyed prop-erties worth billions of naira, claimed lives while hundreds of people were rendered homeless.

Daniel, while speaking in Ilo-rin recently, said that there is need for the public to have good education of insurance so as to sustain efforts of the industry to correct the notion of many Ni-

gerians.He noted that though Nige-

ria�’s insurance industry is now rated number two in Africa, that there was no need for celebra-tion yet because the industry�’s aim is to lead the continent of Africa owing to the country�’s large population.

The Commissioner com-mended the former Minister of Finance and Coordinating Minister Of Economy, Dr. Ngozi Okonjo-Iweala, for the role she played in driving insurance to the forefront in the nation�’s -nancial sector.

He explained that the Bu-hari�’s led government was aware

that insurance is key to reviving the nation�’s dwindling economy.

Daniel, who will retire as the Commissioner this month, challenged the media to always be courteous about what is re-ported but urged them to seek for facts before reporting the in-dustry so as not drag down the nurtured image.

Speaking on government�’s compliance to the �“No premium, No cover�” policy of the industry, the Commissioner hinted

that the Federal Government was 100 per cent compliant, saying that though the govern-ment is yet to pay 2014 group life premium.

The Nigerian Shippers�’ Council, NSC, has called for negotiation with the Ni-

gerian Ports Authority ,NPA, to achieve a reduction of tariffs at ports.

The Executive Secretary of the NSC, Mr Hassan Bello, made the call in Lagos during a cour-tesy visit to NPA�’s headquarters in Lagos.

Bello said the negotiation would involve dialogue and con-stant meetings with the author-ity to proffer solutions to tariff increase at the ports.

He commended the author-ity for the introduction of the e-payment and e-berthing systems which had been improving mari-time services.

The executive secretary said the e-payment system was in line with international standards.

``There is capital improve-ment in dredging of channels which indicates that the Nigerian maritime services are moving gradually to be the hub in West Africa.

``NPA should consider mul-tiple access roads while contract-ing out access roads leading to the Lekki Deep seaport, so that the constant gridlock happening in Apapa and Tin-Can ports will not persist at Lekki.

``Constant dredging of Nige-rian waters has enabled bigger vessels to visit our ports,�’�’ the ex-ecutive secretary said.

Bello acknowledged that Nige-rian ports had been having huge traf c of cargo coming in.

He urged NPA to look into ex-pansion of port access roads as well as roads linking various ter-minals and quay aprons in the

terminals.Bello said that the continu-

ous gridlock on the ports�’ access roads had affected ef ciency at the ports, adding that the NSC was interested in reduction of the costs of doing business at ports.

He requested that NPA should provide of ces where of cials of the NSC could carry out some of their functions.

``To decongest the ports ac-cess road, we want to see 70 per cent of cargo moved through the off- dock terminals by promoting the Inland Container Depots.

``The ICD is a place where you load and discharge cargo but the only difference is that there is no water,�’�’ Bello said.

He, however, said that there was ICD in six locations- Jos, Funtua, Maiduguri, Isiala Ngua (Abia), Ibadan and Kano.

In his response, the Manag-ing Director of NPA, Alhaji Sa-nusi Ado Bayero, pledged to support the NSC to ensure that the Nigerian Maritime industry ourished.

Bayero said that NPA had embarked on various technolo-gies to improve on customers�’ demands and enhance trade fa-cilitation.

``We engage in constant dredging of our waters to attract bigger vessel into the country.

``We have been engaging our of cials in all the ports to ensure that we ful ll the council�’s re-quest for of ces in all ports.

``NPA is aware of the off-dock terminals. There is no way we would not work with the econo-my regulator,�’�’ the News Agency of Nigeria ,NAN, quotes Bayero as saying.

Gbenga Odogun

Nigeria LNG, is only a fa-cilitator of the $1.5b Dockyard proposed to be

built in the country and not an investor in the project as earlier reported in some media.

This was clari ed at the weekend by General Manager, External Relations Nigeria LNG, Dr Kudo Eresia-Eke, when the President Rivers Entrepreneurs and Investors Forum, Mr. Ibi ri Bob-Manuel, and his team paid him a courtesy call in his of ce.

Dr Eresia-Eke said NLNG was only involved as a promoter of Nigerian Content adding that the company insisted on three elements as part of the Nigerian Content for the ship building acquisition by one of its sub-sidiaries, Bonny Gas Transport Limited.

�“ One of these elements was that the shipbuilders explore possibilities of creating a Dry Dock facility in Nigeria, train-ing of at least 600 Nigerians in ship maintenance and the pur-chase of local Nigerian products for the ship building project in South Korea�”Eresa-Eke said

Hyundai Heavy Industries (HHI) and Samsung Heavy In-dustries (SHI) are constructing six new LNG carriers for NLNG subsidiary, Bonny Gas Trans-port Limited.

Dr Eresia-Eke, explained that it was up to the investors to decide how and where to in-vest their money. He also high-lighted that new investors are welcome to develop other Dry Docks anywhere in the country.

The President of the forum, Mr Ibi ri Bob-Manuel thanked the General Manager for Exter-nal Relations, Dr Eresia-Eke, for clearing the air.

Nigeria LNG Limited is the most signi cant arrow-head of the federal government�’s con-tinuing efforts to eliminate gas aring and derive value from the country�’s 187 trillion cubic feet of proven gas reserves. Of- cial statistics indicate that Ni-geria�’s gas aring pro le, previ-ously one of the highest in the world has further reduced from 25 to 11 percent.

Udo Onyeka

Chairman of Financial Reporting Council of Nigeria, FRCN, Hajiya

Maryam Ladi-Ibrahim, has said that the need for corporate gov-ernance in Not �–for- Pro t Or-ganisations, NFPOs is hinged on good governance and orderly succession in view of the vol-ume and type of funding they attract.

Speaking in Lagos at a one-day public hearing on the draft National Code of Corporate Governance, NCCG, for NF-POs, she said the NCCG would provide framework for effective accountability as many NF-POs currently operate with un-known frameworks, with gov-ernment completely in the dark as to both their ownership and principal accountability.

Executive Secretary, FRC, Mr. Jim Obazee said the public hearing was an opportunity for NFPOs stakeholders to make input in the NCCG.

He said the FRC has made wide consultations, adding that for the rst an attempt was be-ing made on putting up a code on how NFPOs should operate in the country.

�“What we are actually doing today is to prepare the minds of people. We are creating the awareness for people to know that the activities of NFPOs

which include charity, religious organisations among others should be transparent to those who are members and they should have the opportunity to know what is happening in that entity and all the stakeholders are carried along�”, Obazee said.

He also debunked the ru-mour making the rounds that the NCCG was aimed at per-fecting strategy to tax religious organisations.

According to Managing Part-ner, Vincent Ahwi, and Co, a Chartered Accounting rm, Mr. Vincent Ahwi, an organi-sation exercises good gover-nance when it has an internal system of checks and balance that ensures public interest is served hence the NCCG would instil discipline in the operators of NFPOs. He said the NCCG should also look at situations where power and resources do not accumulate exclusively in the hands of a single individual, founder or group.

Representatives of some re-

National Mirrorwww.nationalmirroronline.net Monday, July 6, 2015 A21 37

Market Indicators for Week Ended 03-07-15All-Share Index 32,739.11 pointsMarket Capitalization 11.811,690,876,359.93

Business CourageCourage

BC

NASD OTC REPORT

NSE moves 138.55 shares worth N1.55bn

1 OUTSTANDING OFFERS AND BIDS ON NASD OTCOutstanding deals since April, 2015.

Security Industry Nominal value ( ) Last Offer DateVolume offered Last Offer Price Last Bid Price Volume Bidded Last Bid Date

SDACORN PETROLEUM PLC Oil & Gas 0.50 15-Jun-15 1,207,000 1.23 - - -SDARM LIFE PLC Financials 0.50 - - - - - -SDARM PROPERTIES PLC Financials 0.50 - - - - - -SDAFRILAND PROPERTIES PLC Financials 0.50 - - - 2.66 1,602,000 18-Jun-15SDBGL PLC Financials 0.50 - - - - - -SDCAPPA AND D'ALBERTO PLC Industrials 0.50 16-Jun-15 100,000.00 95.00 - - -SDCENTRAL SECURITIES CLEARING SYSTEM PLC Financials 1.00 16-Jun-15 16,050 5.20 4.52 50,000 10-Jun-15SDDUFIL PRIMA FOODS PLC Consumer Goods 0.50 - - - 8.20 558,380 5-Jun-15SDFRIESLAND CAMPINA WAMCO NIGERIA PLC Consumer Goods 0.50 18-Jun-15 156,457 300.00 290.00 81,950 18-Jun-15

SDFOOD CONCEPTS PLC Consumer Services 0.50 16-Apr-15 ########### 0.86 - - -SDFUMMAN AGRICULTURAL PRODUCTS INDUSTRIES PLC Consumer Goods 0.50 - - - - - -SDGEO-FLUIDS PLC Industrials 0.50 5-Jun-15 621,899.00 0.73 - - -SDGOLDEN CAPITAL PLC Financials 0.50 - - - - - -SDINDUSTRIAL & GENERAL INSURANCE PLC Financials 0.50 - - - 0.18 1,550,400 18-Jun-15SDJAIZ INTERNATIONAL PLC Financials 1.00 14-May-15 50,000 0.85 - - -SDNIGER DELTA EXPLORATION & PRODUCTION PLC Oil & Gas 10.00 17-Jun-15 145,800.00 274.00 - - -SDPARTNERSHIP INVESTMENT COMPANY PLC Financials 0.50 5-Jun-15 2,336,000 1.09 - - -SDRESOURCERY PLC Technology 0.50 15-Jun-15 991,280.00 0.53 - - -SDRIGGS VENTURES WEST AFRICA PLC Industrials 0.50 - - - - - -SDSPRING MORTGAGE PLC Financials 0.50 - - - - - -SDSWAP TECHNOLOGIES AND TELECOMMS PLC Technology 0.50 4-Jun-15 886,800 2.17 - - -

RUSTRUSTBOND MORTGAGE BANK PLC Financials 1.00 15-Jun-15 ########### 1.02 - - -

2 DEMATERIALISATION AND CUMULATIVE TRADE IN OTC SECURITIES19-Jun-15

Security Industry Introduced by Company Registrars Year endTotal Share Capital

'000Volume

Dematerialised%

Dematerialised DEALS VOLUME VALUE ( ) SDACORN PETROLEUM PLC Oil and Gas Meristem Securities Limited CardinalStone Registrars Limited 31/Dec 2,000,000,000 41,278,346 2.06% 14 13,890 29,417.90 SDARM LIFE PLC Financials APT Securities & Fund Limited African Prudential Registrars Plc 31/Dec 5,785,673,000 606,000,000 10.47% -SDARM PROPERTIES PLC Financials Mega Equity Limited African Prudential Registrars Plc 31/Dec 1,900,000,000 - 0.00% -SDAFRILAND PROPERTIES PLC Financials APT Securities & Fund Limited African Prudential Registrars Plc 31/Dec 1,249,000,000 12,040,382 0.96% 9 218,134 542,705.10 SDBGL PLC Financials Nigerian Int. Securities Ltd Unity Registrars Limited 31/Dec 12,000,000,000 72,428,500 0.60% 5 6,300 18,900.00 SDCAPPA AND D'ALBERTO PLC Industrial UBA Stockbroking Firm African Prudential Registrars Plc 31/Mar 196,875,000 102,907 0.05% 1 303 30,300.00 SDCENTRAL SECURITIES CLEARING SYSTEM PLC Financials Greenwich Securities Limited African Prudential Registrars Plc 31/Dec 5,000,000,000 38,232,855 0.76% 56 12,451,510 58,599,857.00 SDDUFIL PRIMA FOODS PLC Consumer Goods Anchoria Investment & Securities Lim Nnenna Ejekam Associates 31/Dec 6,753,333,334 - 0.00% - - - SDFRIESLAND CAMPINA WAMCO NIGERIA PLC Consumer Goods Capital Bancorp Plc First Registrars Limited 31/Dec 976,335,936 171,723,293 17.59% 280 135,071,129 42,512,608,878.23 SDFOOD CONCEPTS PLC Consumer Services Stanbic IBTC stockbrokers limited Meristem Registrars Limited 31/Dec 5,650,000,000 83,817,426 1.48% 54 6,301,140 3,357,780.00 SDFUMMAN AGRICULTURAL PRODUCTS INDUSTRIES PLC Consumer Goods Integrated Trust & Investment LimitedPAC Registrars Limited 31/Dec 3,600,000,000 - 0.00% - - - SDGEO-FLUIDS PLC Industrial Icon Stockbrokers Limited Meristem Registrars Limited 31/Dec 4,257,668,000 550,329,772 12.93% 14 10,789,938 16,067,149.62 SDGOLDEN CAPITAL PLC Financials Sterling Capital Market Limited African Prudential Registrars Plc 31/Dec 1,170,324,536 65,087,688 5.56% - - - SDINDUSTRIAL & GENERAL INSURANCE PLC Financials Greenwich Securities Limited GTL Registrars Limited 31/Dec 14,231,238,000 968,058,020 6.80% 23 110,159,250 110,214,996.00 SDJAIZ INTERNATIONAL PLC Financials APT Securities & Fund Limited African Prudential Registrars Plc 31/Dec 11,829,700,000 1,216,500 0.01% 12 10,250 8,712.50 SDNIGER DELTA EXPLORATION & PRODUCTION PLC Oil and Gas FCSL Asset Management Co. Limited United Securities Limited 31/Dec 181,408,000 7,956,004 4.39% 49 6,190,477 1,280,723,002.25 SDPARTNERSHIP INVESTMENT COMPANY PLC Financials APT Securities & Fund Limited First Registrars Limited 31/Dec 2,875,595,000 43,831,878 1.52% 6 1,900 2,660.00 SDRESOURCERY PLC Technology APT Securities & Fund Limited EDC Registrars Limited 31/Dec 2,576,686,039 516,100,000 20.03% 12 112,400 110,044.00 SDRIGGS VENTURES WEST AFRICA PLC Industrial APT Securities & Fund Limited Mainstreet Bank Registrars Limite 31/Dec 880,394,000 - 0.00% - - - SDSPRING MORTGAGE PLC Financials Primera Africa Securities Limited PAC Registrars Limited 31/Dec 7,138,199,210 - 0.00% - - - SDSWAP TECHNOLOGIES AND TELECOMMS PLC Technology Signet Investment and Securities Limi PAC Registrars Limited 31/Dec 2,705,378,000 14,750,000 0.55% 15 15,560 35,607.30

RUSTRUSTBOND MORTGAGE BANK PLC Financials Prominent Securities Limited United Securities Limited 31/Dec 10,945,334,000 90,629,755 0.83% - - - 103,903,142,055 3,283,583,326 3.16% 550 281,342,181 43,982,350,009.90

If you do not see your unquoted Plc on this list or for further enquirys consult your NASD OTC participating broker or visit our website at www.nasdng.com

Offers Bids

DEMATERIALISATION INFORMATION TRADE INFORMATION (JAN 2015-TILL DATE)

NSE trading hall

Transactions at the Ni-gerian Stock Exchange (NSE) on Friday main-

tained a downward trend as investors staked N1.55bn on 138.55 million shares trans-acted in 2,796 deals.

The volume of shares trad-ed closed lower compared with 186.73 million shares valued N1.77bn exchanged in 3,257 deals on Thursday.

UBA emerged the most traded equity with an ex-change of 18.41 million shares worth N86.102m transacted in 157 deals.

It was trailed by Zenith Bank which accounted for 15.75 million shares worth N305.59m achieved in 149 deals, while FBN Holdings sold 14.36 million shares val-ued N114.29m traded in 260 deals.

Beco Petroleum Products transacted 9.76 million shares worth N4.88m in one deal and Access Bank sold 9.08 valued N48.70m exchanged in 246 deals.

Similarly, the All-Share In-dex lost 200.77 points or 0.61 per cent to close at 32,538.34 compared with 32,739.11 re-

corded on Thursday due to price losses by major blue chip equities.

Also, the market capi-talisation which opened at N11.176tn decreased by N69bn to close at N11.107tn.

Dangote Cement topped the losers�’ chart, dropping by N2.50 to close at N170 per share.

It was followed by Lafarge Africa with N2 to close at N101, while Nigerian Brewer-ies dipped N1.05 to close at N144 per share.

Seplat lost N1 to close

at N342 and Guinness also dropped by N1 to close at N152 per share.

On the other hand, 7UP re-corded the highest price gain to lead to gainers�’ table, ap-preciating by N7 to close at N190 per share.

Nestle inched N4 to close at N854, while UACN chalked up N1.99 to close at N44.49 per share.

Cement Company of North-ern Nigeria grew by 50k to close at N11.50 and Port Land Paint gained 23k to close at N4.90 per share.


UBA: Productivity across Bank’s Group sustains growth momentumUdo Onyeka

United Bank for Af-rica, UBA, Plc’s 2015 first quarter, Q1, re-

sults show that the bank’s profit after tax increased by 35 per cent to N17bn, from N12.6bnrecorded in the corre-sponding period of 2014.

The results also showed that the bank witnessed 22 per cent growth in gross earn-ings to N83.1bn as at March 2015, from a comparative fig-ure of N68.1bn made in the first three months of the 2014 financial year.

Also the bank recorded a 36 per cent growth in profit before tax to N18.4bn as at the period under review, com-pared to the N13.5bn it re-alised as at March 2014.

Group Managing Director and Chief Executive Officer of the bank, Mr. Phillips Oduoza who expressed gladness over the performance despite the uncertainties that character-ised the economy during the first quarter of 2015.

“We witnessed what can best be described as a quan-tum leap in our profit and balance sheet drivers. Be-sides the significant growth in profits, I am also impressed by the six per cent quarter-to-date growth in deposits and the low 1.6 per cent non-performing loans (NPL) ratio, which reflects our prudence. It shows our focus on both profit drivers and risks within our operating environment” the UBA boss said.

He said its African busi-nesses, contributed over one-fifth of the group’s earnings in the first quarter. “We remain focused on cross selling initia-tives and niche market play, as we remain committed to building a leading Pan-African financial services franchise and delivering superior value to our shareholders.” Oduoza explained.

2014 full year resultThe bank’s 2014 full year

audited results has shown that the consolidation of its African operations and en-hanced productivity across the group are sustaining the financial institution’s growth momentum.

The bank’s results showed a 10 per cent growth in gross earnings to N290bn as at De-

cember 2014, from N265bn in 2013.

In the same vein the bank recorded a profit before tax of N56.20bn in 2014, compared with the N56.058 realised in 2014, and a profit after tax of N47.907bn in the year under review, as against the N46.60bn it made in 2013.

The bank’s earnings was driven by non-interest in-come, showing that its di-versified and stable income base. Specifically, interest income rose 5.91 per cent to N197bn in December 2014, from N186bn in December 2013, while non-interest in-come rose by 18.17 per cent to N93.3bn from N79bn.

The bank’s Group Chief Financial Officer, GCFO, Ugo Nwaghodoh, while comment-ing on the results, expressed optimism that the financial institution would continue to record a steady and sustained increase in its profitability by leveraging on low cost stable funds as well as rising oppor-tunities in the bank’s target markets in Nigeria and across Africa.

“The performance of our African business was boosted by increased cross selling of our products and a number of other strategic initiatives. As we gain critical mass in the African market, we look forward to increased earnings in line with the diversification of our business across Africa,” Nwaghodoh said.

Customer deposits in the bank in the period under re-

view stand at N2.17trn in 2014. Buoyed by this stabil-ity, UBA expanded its sup-port for businesses on the continent by increasing its loan book by 14 per cent to N1.072trn.

“We expanded our loan book without compromising our focus on asset quality. Notably, our non-performing loan ratio remains one of the best-in-class at 1.6 per cent, as we responsibly grew risk assets in line with our defined risk appetite and target mar-kets” said the Group Manag-ing Director/CEO, Mr. Phil-

lips Oduoza. Shareholders’ fund also

grew by 13 per cent to N265bn in 2014, from N235bn in 2013, with a capital adequa-cy ratio above regulatory re-quirement.

LiquidityThe Bank’s funding con-

tinues to be predominantly deposit based, representing 81 per cent of total funding. Capital adequacy and liquid-ity ratios remain well above regulatory minimum at 17 per cent and 49 per cent respec-tively.

Completion of Tier-II Capi-tal raising in December 2014, N30.5bn 7-Year Bond, and recent Tier-I capital, N11.5bn Rights Issue further enhance capital adequacy ratio.

The Bank’s Strategic mo-bilisation of the stable low cost deposits is improving de-posit mix and support growth target in 2015.

Also deposits from African subsidiaries remain strong, as the subsidiaries gain criti-cal mass and deepen penetra-tion of their respective niche markets.

UBA is responsibly grow-ing balance sheet, with focus on quality assets in selected market segments across Af-rica. •

The lender pride itself with a liquid balance sheet that ensures flexibility and ability

to take advantage of emerging opportunities across target markets, especially in sup-porting customers in the real sector of the African market.

Business StrategyThe bank set out 2013 with

implementation of the strate-gic imperatives arising from ‘Project Alpha, which drove the growth of the bank in short to medium term, which included aggressive deposit mobilization, account acqui-sition and dormant account reactivation. Others are effec-tive leverage on balance sheet to participate in emerging growth sectors, including ag-ric, power and infrastructure; driving value chain banking, consolidating African busi-ness for market share growth and increasing focus on Afri-can trade.

OutlookThe bank synergizes its

operations using opportunity cost in each of the countries. “When we get to the countries where we get license to oper-ate, we key into their key eco-nomic drivers. When you do that some aspects will suffer, which really affects Nigeria. Now we believe that it is time to reap our investments in others countries for Nigeria to benefit. We want a situation whereby UBA Africa will con-tribute 50 per cent to earn-ing and UBA, Nigeria will do same. Therefore, there are lots of opportunities in Africa, Ag-riculture, and the arable farm land. We feel we should ben-efit from both sides.

“Nigeria is the largest and other economies are growing rapidly too. All Nigeria busi-ness is consolidated into one, and it will be competing with Nigerian banks, while UBA as an entity will be benefiting from both markets,” the Group Managing Director of the bank, Mr. Phillip Oduoza said.

The bank last week an-nounced key appointments to drive its quest for industry leadership by 2015. The Proj-ect Alpha is a 3-year road map of key transformation initia-tives, designed to reinforce the group’s strategic position-ing and leverage its huge Af-rica presence to fully exploit the burgeoning opportunities in Africa’s economic renais-sance. BC

Oduoza

National Mirrorwww.nationalmirroronline.net Monday, July 6, 2015 A23 39

STOCKWATCH

AGRICULTURE/AGRO-ALLIED Crop Production FTN COCOA PROCESSORS PLC 0.50 9,140 0.64 0.50 2,200,000,000 0.10 N/A 0.50OKOMU OIL PALM PLC. 28.66 261,540 107.81 20.92 476,955,000 2.29 -9.16 31.55PRESCO PLC 33.50 107,996 41.14 8.24 1,000,000,000 7.55 4.69 32.00Fishing/Hunting/Trapping ELLAH LAKES PLC. 4.26 70 4.26 4.26 60,000,000 0.00 N/A 4.26Livestock/Animal Specialties LIVESTOCK FEEDS PLC. 2.15 1,249,104 7.18 0.68 1,199,549,736 0.07 -4.87 2.26CONGLOMERATES Diversi ed Industries A.G. LEVENTIS NIGERIA PLC. 1.47 100,150 2.08 0.71 2,191,895,983 0.11 0.00 1.47CHELLARAMS PLC. 3.95 300 6.43 4.15 963,900,300 0.16 N/A 3.95JOHN HOLT PLC. 0.94 17,558 5.89 1.07 389,151,408 1.09 N/A 0.94SCOA NIG PLC 4.44 512 4.44TRANSNATIONAL CORP. OF NIG.PLC 2.78 6,693,406 5.89 0.50 821,666,666 0.09 N/A 2.78U A C N PLC. 42.01 2,658,148 71.10 28.00 1,600,720,323 4.38 N/A 42.00CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. 5.30 375 26.00 5.05 148,500,000 0.33 N/A 5.30CAPPA & D�’ALBERTO PLC. NT 3 95.49 95.49 196,876,000 4.50 N/A NTBuilding Structure/Completion/Other COSTAIN (W A) PLC. 0.88 807,550 2.66 0.72 920,573,765 0.00 N/A 0.92G CAPPA PLC 14.46 217 14.46 14.46 125,000,000 0.00 N/A 14.46Non--Building/Heavy Construction JULIUS BERGER NIG. PLC. 48.50 27,437 83.75 19.86 1,200,000,000 6.74 -7.43 52.39ROADS NIG PLC. 6.29 1,832 10.60 6.61 20,000,000 1.69 N/A 6.29Real Estate Development PINNACLE POINT GROUP PLC NT NT 7.28 7.28 0.00 N/A NTUACN PROPERTY DEV 10.50 324,368 20.90 8.82 1,375,000,000 2.20 0.00 10.50Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC 100.00 93 100.00 100.00 20,000,000 5.82 N/A 100.00UNION HOMES REAL ESTATE INV 45.22 100 50.00 50.00 250,019,781 0.19 N/A 45.22UPDC REAL ESTATE INVESTMENT TRUST 10.00 6,350 10.50 0.00 10.00CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC 0.50 5,016 0.50 0.50 4,772,528,415 0.00 N/A 0.50Beverages--Brewers/Distillers CHAMPION BREW. PLC. 6.27 54,992 19.48 3.13 900,000,000 0.00 N/A 7.00GOLDEN GUINEA BREW. PLC. 0.93 8,132 0.68 0.68 272,160,000 0.00 N/A 0.93GUINNESS NIG PLC 153.50 28,374 297.41 209.10 1,474,925,519 8.66 -6.97 165.00INTERNATIONAL BREWERIES PLC. 19.01 172,515 30.00 5.34 2,112,914,681 0.63 N/A 18.52JOS INT. BREWERIES PLC. 1.66 50,000 9.09 0.81 562,000,000 0.00 N/A 1.66NIGERIAN BREW. PLC. 148.01 1,808,302 179.40 91.10 7,562,562,340 5.03 -0.01 148.02PREMIER BREWERIES PLC 3.26 513,550 0.97 0.93 126,000,000 0.00 N/A 3.26Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. 179.10 24,150 75.90 38.12 640,590,362 4.46 N/A 178.10Food Products BIG TREAT PLC NT NT 0.50 0.50 2,000,000,000 0.00 N/A NTDANGOTE FLOUR MILLS PLC 3.86 224,970 10.68 3.85 5,000,000,000 0.00 -0.26 3.87DANGOTE SUGAR REFINERY PLC 6.90 1,588,435 12.85 3.26 12,000,000,000 0.81 -0.86 6.96FLOUR MILLS NIG. PLC. 34.00 187,271 109.24 50.00 1,879,210,666 3.38 -2.02 34.70HONEYWELL FLOUR MILL PLC 3.46 952,850 4.11 1.83 7,930,197,658 0.34 -8.95 3.80MULTI-TREX INTEGRATED FOODS PLC 0.50 53,816 1.21 0.50 3,722,493,620 0.00 N/A 0.50N NIG. FLOUR MILLS PLC. 18.05 159,011 29.70 17.51 178,200,000 0.00 N/A 18.05NATIONAL SALT CO. NIG. PLC 7.90 2,835,920 14.00 3.65 1.05 -7.06 8.50P S MANDRIDES & CO PLC. 5.35 2.08 124,000 5.94 5.35 40,000,000 0.08 N/A 5.35U T C NIG. PLC. 0.50 50 0.93 0.50 1,233,375,004 1.13 0.00 0.50UNION DICON SALT PLC. 11.84 100 13.31 4.22 360,000,000 0.00 N/A 11.84Food Products--Diversi ed CADBURY NIGERIA PLC. 35.15 5,725 64.53 8.33 3,129,188,160 1.57 -6.44 37.57NESTLE NIGERIA PLC. 891.45 390,319 1250.00 400.00 792,656,250 28.34 4.88 850.00Household Durables BETA GLASS CO PLC. NT 25,333 15.58 10.03 3.90 N/A NTNIGERIAN ENAMELWARE PLC. 31.82 100 36.19 32.27 63,360,000 13.92 N/A 31.82VITAFOAM NIG PLC. 5.63 187,845 5.54 2.91 819,000,000 0.71 3.68 5.43VONO PRODUCTS PLC. 1.14 15,000 2.88 0.57 300,000,001 0.00 N/A 1.45Personal/Household Products P Z CUSSONS NIGERIA PLC. 32.00 156,973 56.00 21.02 3,176,381,636 1.34 0.72 31.77UNILEVER NIGERIA PLC. 45.50 119,119 76.00 27.60 3,783,296,250 1.42 1.11 45.00Textiles/Apparel UNITED NIG. TEXTILES PLC. NT NT 0.97 0.57 843,284,027 0.00 N/A NTFINANCIAL SERVICES Banking ACCESS BANK PLC. 5.77 20,610,779 12.39 4.70 17,888,251,479 1.61 -5.41 6.10DIAMOND BANK PLC 4.10 1,358,484 7.85 1.92 14,475,243,105 1.71 -2.61 4.21ECOBANK TRANSNATIONAL INC. 22.00 5,746,153 17.51 9.90 9,873,614,567 3.67 0.00 22.00FIDELITY BANK PLC 1.75 4,669,271 3.47 1.13 28,974,797,023 0.68 -2.23 1.79FIRST CITY MONUMENT BANK PLC. NT NT 8.30 3.04 16,271,192,202 0.60 #VALUE! NTGUARANTY TRUST BANK PLC. 27.00 11,491,149 29.99 13.02 29,146,482,209 3.08 0.15 26.96INTERCONTINENTAL BANK 13.50 13.50SKYE BANK PLC 2.40 5,074,965 7.05 2.65 13,219,334,676 0.97 -4.00 2.50STERLING BANK PLC. 1.98 2,601,379 3.05 0.80 12,563,091,545 0.63 -3.41 2.05U B A PLC 4.90 11,173,106 9.60 1.64 32,334,693,693 1.70 -5.04 5.16UNION BANK NIG.PLC. 9.35 1,469,943 15.30 2.34 13,509,726,273 0.44 -3.11 9.65UNITY BANK PLC 2.50 359,359 1.16 0.50 33,675,576,085 0.18 0.00 2.54WEMA BANK PLC. 0.95 1,128,531 1.88 0.50 12,821,249,880 0.00 -5.00 1.00ZENITH BANK PLC 19.25 9,778,427 27.40 11.96 31,396,493,790 3.30 -1.13 19.47Insurance Carriers, Brokers & Services AFRICAN ALLIANCE INS. COY. PLC 0.50 200 0.50 0.50 20,585,000,000 0.00 N/A 0.50AIICO INSURANCE PLC. 0.97 1,627,718 1.42 0.50 7,809,391,256 0.19 0.00 0.92CONFIDENCE INSURANCE PLC NT NT 0.64 0.61 211,626,000 0.00 N/A NTCONSOLIDATED HALLMARK INS. PLC 0.50 9,140 0.52 0.50 6,000,000,000 0.05 N/A 0.50CONTINENTAL REINSURANCE PLC 0.97 1,882,960 1.45 0.58 10,372,624,157 0.15 0.00 1.00CORNERSTONE INS. COY. PLC. 0.50 62,000 0.72 0.50 8,820,010,363 0.02 0.00 0.50CUSTODIAN AND ALLIED INS. PLC NT 9,054,578 2.44 1.08 5,100,846,808 0.24 0.00 NTEQUITY ASSURANCE PLC. 0.50 4,754 0.50 0.50 8,847,298,420 0.01 N/A 0.50GOLDLINK INSURANCE PLC 0.53 NT 0.69 0.50 4,549,947,000 0.00 N/A 0.53GREAT NIGERIAN INSURANCE PLC 0.50 42,003 0.60 0.50 3,827,485,380 0.03 N/A 0.50GUINEA INSURANCE PLC. 0.50 165,731 0.50 0.50 720,000,000 0.01 N/A 0.50INTERCONTINENTAL WAPIC INS. PLC NT NT 2.50 0.50 5,061,804,000 0.00 N/A NTINTERNATIONAL ENERGY INS. PLC 0.50 698,304 2.50 0.50 6,420,427,449 0.00 0.00 0.50INVESTMENT AND ALLIED ARN. 0.5 NT 0.50 0.50 28,000,000,000 0.02 N/A 0.5LASACO ASSURANCE PLC. 0.50 14,710 0.50 0.50 7,323,313,227 0.00 N/A 0.50LAW UNION AND ROCK INS. PLC. 0.50 100 0.61 0.50 3,437,330,500 0.00 N/A 0.50LINKAGE ASSURANCE PLC 0.50 220 0.50 0.50 4,083,713,569 0.02 0.00 0.50MANSARD INSURANCE PLC 2.96 23,600 2.87 1.06 10,000,000,000 0.25 -1.00 2.99MUTUAL BENEFITS ASSURANCE PLC. 0.50 1,319,465 0.63 0.50 7,998,705,336 0.00 N/A 0.50N.E.M INSURANCE CO (NIG) PLC. 0.70 10,579,013 1.01 0.50 5,332,830,881 0.37 -7.89 0.76NIGER INSURANCE CO. PLC. 0.50 52,100 1.11 0.50 5,649,693,923 0.02 N/A 0.50OASIS INSURANCE PLC NT 1,654,611 0.50 0.50 5,003,506,791 0.04 N/A NTPRESTIGE ASSURANCE CO. PLC. 0.50 27,973 1.24 0.50 2,508,315,436 0.06 0.00 0.50REGENCY ALLIANCE INS. COY PLC 0.50 5,028 0.53 0.50 6,668,750,000 0.04 N/A 0.50SOVEREIGN TRUST INSURANCE PLC 0.50 100 0.59 0.50 5,203,757,266 0.09 0.00 0.50STANDARD TRUSTASSURANCE PLC 0.50 1,650 0.50STANDARD ALLIANCE INS. PLC. 0.50 161,547,689 0.50 0.50 8,493,173,450 0.00 N/A 0.50UNIC INSURANCE PLC. 0.50 25,000 0.50 0.50 2,581,733,505 0.00 N/A 0.50UNITY KAPITAL ASSURANCE PLC 0.50 200 0.50 0.50 13,000,000,000 0.02 N/A 0.50UNIVERSAL INS. COMPANY PLC 0.50 518,140 0.50 0.50 16,000,000,000 0.00 N/A 0.50WAPIC INSURANCE PLC 0.50 1,368,084 1.55 0.50 0.07 0.50Micro Finance Banks FORTIS MICROFINANCE BANK PLC 5.42 10,000,000 6.60 0.00 1.18 5.42NPF MICROFINANCE BANK PLC 1.05 584,766 1.22 0.72 0.19 1.14Mortgage Carriers, Brokers &Services ABBEY MORTGAGE BANK PLC 1.25 500 1.65 1.37 4,200,000,000 0.03 N/A 1.26ASO SAVINGS AND LOANS PLC 0.50 500 0.50 0.50 8,679,148,676 0.02 N/A 0.50INFINITY TRUST MORTGAGE BANK PLC 1.42 500 1.42RESORT SAVINGS & LOANS PLC 0.50 220,000 0.50 0.50 13,175,732,404 0.30 N/A 0.50UNION HOMES SAVINGS&LOANS PLC 5.78 4,570 0.99 0.50 7,812,500,000 0.00 N/A 5.78Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS 2.7 313,164 2.1 0.5 0.63 2.74CUSTODIAN AND ALLIED INS. PLC 4.05 369,250 4.00CRUSADER ( NIG) PLC. NT 500 0.61 0.50 3,778,005,975 0.00 N/A NTDEAP CAPITAL MGT & TRUST PLC 0.64 5,000 2.02 2.02 1,333,333,333 0.15 N/A 0.64FBN HOLDINGS PLC 7.96 8,812,914 21.50 8.57 32,632,084,358 2.45 -5.35 8.41FCMB GROUP PLC 3 27045923 5.70 2.90 1.23 3.08ROYAL EXCHANGE PLC. 0.50 1,050,953 1.33 0.50 3,608,657,661 0.13 N/A 0.50STANBIC IBTC HOLDINGS PLC 27.05 3,807,836 20.72 10.64 18,750,000,000 1.53 -1.99 27.60SIM CAPITAL ALLIANCE VALUE FUND 103.24 465 103.24 98.33 103.24NIGERIA ENERGY SECTOR FUND 552.20 100 552.20UBA CAPITAL PLC 1.36 1,926,013 1.70 0.00 0.29 1.41HEALTHCARE Healthcare Providers EKOCORP PLC. 3.72 170 5.05 4.32 498,600,908 0.13 N/A 3.72UNION DIAGNOSTIC &CLINICAL PLC 0.50 40,000 0.50 0.50 3,553,138,528 0.00 N/A 0.50Medical Supplies MORISON INDUSTRIES PLC. 1.82 100 10.54 7.39 152,178,750 0.00 N/A 1.82Pharmaceuticals

NOTE NT=Not Traded on 03-07-15 N/A=Not Avialable

EVANS MEDICAL PLC. 1.32 74,488 4.80 0.50 486,473,856 0.58 -16.98 1.59FIDSON HEALTHCARE PLC 3.18 1,444,640 2.50 0.61 1,500,000,000 0.24 -6.47 3.40GLAXO SMITHKLINE CONSUMER PLC 44.00 66,411 69.00 18.97 956,701,192 3.07 0.00 44.00MAY & BAKER NIGERIA PLC. 1.42 163,454 3.38 1.23 980,000,000 0.09 -5.33 1.50NEIMETH INT PHARM PLC 1.43 251,300 1.76 0.58 1,925,717,268 0.00 11.72 1.28NIGERIA-GERMAN CHEMICALS PLC. 6.32 100 8.59 7.36 153,786,012 0.00 N/A 6.32PHARMA-DEKO PLC. 2.20 572,185 3.50 1.83 100,000,000 0.00 N/A 2.23ICT Computer Based Systems COURTEVILLE BUSINESS SLN PLC 0.50 37,000 0.96 0.50 2,960,000,000 0.11 0.00 0.50Computers and Peripherals OMATEK VENTURES PLC 0.50 100 0.50 0.50 2,941,789,472 0.00 N/A 0.50Electronic Communications Services MTECH COMMUNICATIONS PLC 0.91 NT 0.91 0.91 4,966,666,668 0.00 N/A 0.91IT Services COMPUTER WAREHOUSE GROUP PLC 3.98 400 3.98NCR (NIGERIA) PLC. 11.02 100 18.70 13.12 108,000,000 0.00 N/A 11.02TRIPPLE GEE AND COMPANY PLC. 1.69 5,460 2.94 2.07 492,825,600 0.03 N/A 1.69Processing Systems CHAMS PLC 0.50 27,420 0.50 0.50 4,620,600,000 0.04 N/A 0.50E-TRANZACT INTERNATIONAL PLC 3.34 1,080 4.97 3.13 4,200,000,000 0.04 N/A 3.39Telecommunications Services IHS NT NTHIS NIGERIA PLC 2 NT NTHIS NIGERIA PLC 1 NT NTMTI PLC 0.5 100 0.50 0.50 4,893,594,400 0.00 N/A 0.5INDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. 2.72 2,000 2.86 2.86 260,000,000 0.07 N/A 2.72ASHAKA CEM PLC 22.60 1,557,197 29.98 8.01 2,239,453,125 0.80 5.12 21.50BERGER PAINTS PLC 11.24 40,673 12.20 6.82 217,367,585 0.91 0.00 11.24CAP PLC 41.00 20,474 67.50 13.78 560,000,000 1.66 0.00 41.00CEMENT CO. OF NORTH.NIG. PLC 10.50 1,514,719 12.99 4.00 1,241,548,285 1.12 -10.10 11.68DANGOTE CEMENT PLC 170.00 1,167,463 210.01 102.00 15,494,019,668 5.77 -2.86 175.00DN MEYER PLC. 0.76 40,890 3.54 0.50 242,908,200 0.06 N/A 0.76FIRST ALUMINIUM NIGERIA PLC 0.50 600 0.75 0.50 2,109,928,275 0.00 N/A 0.50IPWA PLC 0.50 6,000 1.34 0.50 513,696,000 0.00 N/A 0.50PREMIER PAINTS 10.93 60 10.93LAFARGE WAPCO PLC. 100.00 109,667 110.00 39.80 3,001,600,004 6.83 1.01 99.00PAINTS & COATINGS MANFACT.PLC 1.33 50,000 2.41 0.50 792,914,256 0.36 N/A 1.33PORTLAND PAINTS & PRDT NIG. PLC 4.45 72,650 7.22 2.27 400,000,000 0.43 N/A 4.25Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC 2.09 100 2.00 2.00 0.05 N/A 2.09CUTIX PLC. 1.65 220,132 2.39 1.20 510,396,608 0.19 -4.62 1.73NIGERIAN WIRE AND CABLE PLC. 0.50 100 0.73 0.50 2,220,000,000 0.00 N/A 0.50Packaging/Containers ABPLAST PRODUCTS PLC. NT NT 3.98 3.98 25,000,000 0.00 N/A NTAVON CROWNCAPS & CONTAINERS 1.52 561 5.94 1.71 683,974,528 0.00 N/A 1.52BETA GLASS CO PLC. 35.46 1,361 13.18 9.04 3.23 37.32GREIF NIGERIA PLC 11.48 100 13.28 12.68 42,640,000 0.90 N/A 11.48NIG. BAGS MANFACT. COY PLC NT NT 3.60 1.60 6,215,000,000 0.24 #VALUE! NTPOLY PRODUCTS (NIG) PLC. NT NT 1.86 1.05 240,000,000 0.22 N/A NTW A GLASS IND. PLC. 0.63 NT 0.63 0.63 199,066,550 0.00 N/A 0.63Tools and Machinery NIGERIAN ROPES PLC 7.46 100 8.69 8.26 265,409,280 0.00 N/A 7.46NIG SEW MACH. MAN. CO PLC. 0.15 200 0.15STOKVIS NIG PLC. 0.14 NT 0.14 0.14 2,918,000 0.00 N/A 0.14NATURAL RESOURCES Chemicals B.O.C. GASES PLC. 4.86 10,000 9.35 5.68 393,120,000 0.76 -4.89 5.11Metals ALUMACO PLC 7.75 320 7.75 7.75 75,600,000 0.00 N/A 7.75ALUMINIUM EXTRUSION IND. PLC. 10.43 100 12.39 10.55 100,000,000 0.24 N/A 10.43MINING SERVICES MULTIVERSE PLC 0.50 100 0.50 0.50 4,058,989,226 0.01 N/A 0.50Paper/Forest Products HALLMARK PAPER PRODUCTS PLC. NT NT 3.22 3.22 50,000,000 0.04 N/A NTTHOMAS WYATT NIG. PLC. 0.67 4,050 1.38 0.67 220,000,000 0.00 N/A 0.67OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SER. PLC 0.50 1,408,720 1.02 0.50 6,262,701,716 0.00 0.00 0.50Integrated Oil and Gas Services OANDO PLC 15.36 4,924,248 24.80 9.32 2,262,711,568 1.24 -3.40 15.90Petroleum &Petroleum Products Distributors BECO PETROLEUM PRODUCT PLC 0.5 10000 0.5CONOIL PLC 40.85 2,577,516 76.00 16.96 693,952,117 2.69 -2.74 42.00ETERNA PLC. 2.41 2,541,040 4.87 1.32 1,249,162,828 0.61 -7.31 2.60FORTE OIL PLC. 182.00 412,758 115.64 7.73 1,080,280,628 1.43 1.12 179.99MOBIL OIL NIG PLC. 158.85 22,164 146.00 106.00 300,496,051 9.93 6.61 149.00MRS OIL NIGERIA PLC. 50.54 167,074 59.00 16.20 253,988,672 1.04 N/A 50.54TOTAL NIGERIA PLC. 165.00 43,476 190.01 118.75 339,521,837 12.91 3.71 159.10Exploration and Production SEPLAT PETROLEUM DEVT. CO, LTD. 331.25 306,355 28,677,671 315.80SERVICES Advertising AFROMEDIA PLC 0.50 200 0.72 0.50 4,035,497,307 0.00 N/A 0.50Apparel Retailers LENNARDS (NIG) PLC. 3.15 100 3.48 3.48 0 N/A 3.15Automobile/Auto Part Retailers R T BRISCOE PLC. 0.77 209,933 2.45 1.00 980,294,400 0.00 -8.33 0.84Courier/Freight/Delivery RED STAR EXPRESS PLC 4.80 2,572,000 5.10 2.19 589,496,310 0.52 -4.00 5.00TRANS-NATIONWIDE EXPRESS PLC. 1.27 3,000 3.45 0.73 198,819,763 0.00 N/A 1.22Employment Solutions C & I LEASING PLC. 0.52 4,059,547 1.64 0.85 865,808,912 0.00 N/A 0.56Hospitality TANTALIZERS PLC 0.50 1,500 0.75 0.50 3,211,627,907 0.00 N/A 0.50Hotels/Lodging CAPITAL HOTEL 4.07 100 4.07IKEJA HOTEL PLC 3.80 599,750 1.72 0.64 2,078,796,396 0.00 2.15 3.72TOURIST COY NIG PLC 3.51 1,000 3.88 3.51 3.51TRANSCORP HOTELS PLC 9.63 2,800 10.00 10.00 9.63Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 1,000 0.51 0.50 8,000,000,000 0.43 N/A 0.50Printing/Publishing ACADEMY PRESS 0.91 16500 0.95LEARN AFRICA PLC 1.26 224,498 3.09 1.39 771,450,000 0.00 N/A 1.21STUDIO PRESS (NIG) PLC. 2.30 20 2.78 2.52 0.00 N/A 2.30UNIVERSITY PRESS PLC. 5.61 20,800 5.77 3.00 425,641,111 0.61 -7.27 6.05Road Transportation ABC TRANSPORT PLCPLC 0.50 955,140 1.29 0.50 1,507,000,000 0.21 N/A 0.53Specialty INTERLINKED TECHNOLOGIES PLC 4.43 6 5.15 4.90 236,699,511 0.00 N/A 4.43SECURE ELECTRONIC TECH.PLC 0.5 40,000,700 1.88 0.80 5,631,539,736 0.00 N/A 0.5Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 2.08 111,000 5.90 1.27 634,000,000 0.50 N/A 2.08NIG. AVIATION HANDLING COY PLC 4.77 246,274 8.81 5.08 1,230,468,750 0.43 -5.17 5.03SUPPORT AND LOGISTICS CAVERTON OFFSHORE GROUP PLC 3.42 189044 3.6ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC NT 60 1.43 1.04 45,000,000 0.12 N/A NTCONSUMER GOODS Food Products MCNICHOLS PLC NT 100 2.26 1.02 201,885,335 0.00 N/A NTOIL AND GAS CAPITAL OIL PLC NT 100000 NTNAVITUS ENERGY PLC NT 1000 NTPersonal/Household Products ROKANA INDUSTRIES PLC. NT NT 0.60 0.60 30,000,000 0.00 N/A NTHEALTHCARE Pharmaceuticals AFRIK PHARMACEUTICALS PLC. NT NT 0.50 0.50 24,898,850 0.00 N/A NTINDUSTRIAL GOODS Electronic and Electrical Products NT NT NTADSWITCH PLC. NT NT 1.88 1.63 125,005,250 0.00 N/A NTNATURAL RESOURCES Metals W.A. ALUM. PRODUCTS PLC. NT NT 0.50 0.50 6,650,000 0.00 N/A NTFood/Drug Retailers and Wholesalers NT NT NTJULI PLC. NT 1,000 3.05 2.76 194,700,000 0.00 N/A NTETF�’s Sector ETF LOTUS HALAL EQUITY ETF NT NTNEWGOLD EXCHANGE TRADED FUND NT 41 2,706 2,003 #VALUE! NTVETIVA GRIFFIN 30 ETF NT 10 49467 NT

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41National Mirrorwww.nationalmirroronline.net

Monday, July 6, 2015

A legislature is not a secret organisation or a secret cult or fraternity where things are done in utmost secrecy in the recess of a hotel.

— Justice Niki Tobi, retired Justice of Supreme Court

Law & Justice

European Court to consider hostage case against Russia

How Dele Giwa was charged with Official Secrets Act

45

42

President, Court of Appeal, Justice Zainab Bulkchuwa Sagay

Despite punitive sanctions being imposed on erring judges by the National Judicial Council (NJC), about 46 judges out of about 1,020 were reported to have been disciplined recently by the NJC. WALE IGBINTADE, reports that notable lawyers are worried by this negative trend, which portends danger to justice administration.

Judicial corruption destroys public trust, credibility —Top lawyers

CONTINUED ON PAGE 44

Since the late Supreme Court jurist, Justice Kayode Eso, came out with the shock-

ing revelation that 47 judges did not deserve to be on the Bench in 1994, the issue of corruption in the judiciary has been a recur-ring decimal in the country.

Eso was chairman of the Judi-cial Panel on Reform of the Judi-ciary, set up by the late Gen. Sani Abacha in 1993, and the panel’s report gathered dust in Aso Rock for years until successive admin-istrations booted out some judges indicted in the report. Some of the sanctioned judges at the time were shown the way out of the Bench for offences ranging from persistent reputation for corruption, laziness and lack of required legal educational quali-fications to function effectively as judicial officers.

Twenty-one years after the

Eso panel report, stakeholders in the administration of justice still express concern over rising incidence of corruption in the ju-diciary. Recently, Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed, disclosed that no fewer than 64 judges were dis-ciplined out of the 1,020 judges currently serving in the superior courts between 2009 and 2014.

Speaking at a one-day seminar organised by the Nigerian Bar Association’s anti-corruption commission, the CJN said of the

64 judges that were disciplined by the National Judicial Council (NJC), some of them are no more on the Bench.

This exposé is quite mind-boggling, especially when it is considered that the judiciary is supposed to be the last hope of the common man. It is important to note that preservation of integ-rity of the judicial system is an essential element of its effective-ness, and this can be tarnished by the corruption of its functionar-ies no matter how lowly.

One cannot deny the fact that-when the whole judicial struc-ture becomes infected, it will result in loss of confidence and trust in the persons responsible for safeguarding the rights of the citizens. This is because ju-dicial officers by virtue of their vintage positions are expected like Ceasar’s wife, to be above board.

It would be recalled that the NJC at its meeting held on Feb-ruary 26, 2014, recommended compulsory retirement from of-fice of Justice G.K. Olotu of the Federal High Court and Justice U. A. Inyang of High Court of Justice of the Federal Capital Territory, Abuja, respectively, for gross misconduct.

Sometime last year, Justice Charles Archibong of the Fed-eral High Court and Justice T. D. Naron of Plateau State High Court, were compulsorily re-tired. A statement signed by Mr Soji Oye, NJC, Acting Director of Information, said their re-tirements were necessitated by petitions on allegations of gross misconduct levelled against

Incompetent judges should step aside —Ayorinde

TwenTy- one years afTer The eso panel reporT, sTakeholders in The adminisTraTion of jusTice

sTill express concern over rising incidence of corrupTion in The

judiciary.

42 National Mirror www.nationalmirroronline.netMonday, July 6, 2015Law & Justice

Incompetent judges should step aside —Ayorinde

A couple of weeks ago, the Chief Jus-tice of Nigeria summoned three judges due to low performance in their quar-terly assessments. Is the rating and as-sessment of judges by the NJC really necessary?

Of course, it is necessary, it start with the appointment process. After the appoint-ment, there should be monitoring because you did not just be a judge for the sake of be-ing a judge, you must be productive. So, it is good that the NJC has the means of monitor-ing the production rate of judges and if the production rate is very low, my take on that is that you ask the person to step aside. It is not a matter of being corrupt; it is a matter of not being competent. If the production rate is low, you call in the judge and find out why it is low. If it is for health reasons then obviously, such a person may not be able to carry on the functions of a judge and the system will find a way of looking after such a person, especially when you consider his past years of service. But, if you have a case where the judge is unable to cope, then it is like having made a wrong appointment, the sector is too critical to leave such a person on the job. I think one should support the CJN on that point.

Are you saying that at times com-petent people are not appointed to the Bench?

Well, we have some very excellent judges in Nigeria but, at the same time because the system is not fool-proof, because the system has been abused in the past, certain persons who ordinarily should not be doing that job have found their ways into those seats. Like I said, we still have excellent judges who day- to- day turn out excellent judgments.

It is easy to criticise lawyers and say they file all manners of applications. The lawyer will files applications, it is left to the judge who is very competent to immediately see through the applications and say you have filed four applications today, I’ve looked at all of them, I will hear everything together. He takes it and you will see that if a judge is fully in charge of his court or her court, he can de-liver a bench ruling. The application that has merit will be given such merit, the ones that deserve to be thrown into the dust bin will go

there immediately and there is also the re-gime of cost. You make the cost very punitive so that it will dissuade lawyers from filing such applications. But, we do have excellent judges, it is the system that needs revamping constantly so that we don’t have too many of the bad ones overshadowing the good work that the good ones are doing.

Do you suggest majority of those ap-pointed to the Bench should be come from the ministry of justice or private practice?

I think it should be mixed. Either from the public service like the Ministry of Jus-tice or other departments of government or from the private practice or even from the academia. You can appoint judges from the universities so, it should be balanced. What is important is that the criteria is met, the person to be appointed a judge must have integrity, sound knowledge of the law and really desires to take the job. That is what is important.

In terms of competence, do you agree

that those in active practice are more informed in terms of knowledge of law than lawyers appointed to the Bench from the Ministry of Justice?

You will be surprised that in the days gone by, majority of our judges came from the civil service and they did very well. So, a lot of them that we celebrate their judgments and contributions to jurisprudence today were from the ministry of justice in those days. It is a matter of getting the right people because I know that in the 60s and 70s, it is not auto-matic that if you’re in the ministry of justice and you attained a certain position you must be a judge. If you’re not a fit and proper per-son, either in learning and or character to attain the position of judgeship, you will be passed by.

In England, it is a common practice to appoint Queen’s Counsel to the Bench but that is not the case in Nigeria. Why is this so ?

It is not compulsory but most QC s aspires to judgeship. In England by the time you take

up appointment to the Bench, you find out that a lot of Queen Counsel attains the rank of QCs between the ages of 40 and 45, so be-fore they are 50 years old they would have practised sufficiently at the highest level and they are willing to go to the Bench. The Bench will offer them a full career of another 25 years. They are sure of a decent pension and in most cases, a knighthood from the Queen. So, it’s somewhere where they go for security after being in private practice but, there are still very high numbers of Queen’s Counsel that stay in private practice and don’t go to the Bench but it’s a natural flow.

Why do most Senior Advocates of Ni-geria shy away from going to the Bench?

I think it will change and the reason why that will change is the increase in num-bers of Senior Advocates being appointed. In England, they could appoint every year sometimes 80 Queen’s Counsel, sometimes 60. Now, you can’t have 60 or 50 QCs running up and down the whole country every year. So, the Bench is a natural place for them to flow into. Because, we still have restrictive ap-pointments into the rank of Senior Advocate in Nigeria, the Bench is not a natural place to flow to but, if we increase the number, you will find out that SAN will begin to gravitate towards the Bench and the suggestion has been on for quite sometimes to encourage silks to take up judicial appointments.

The talk has always been restricted to get-ting them into the Supreme Court. I have

Ayorinde (SAN)

Chief Bolaji Ayorinde, a Senior Advocate of Nigeria (SAN), is a one-time Pro-Chancellor and Chairman, Governing Council, Ladoke Akintola University of Technology, (LAUTECH),Ogbomosho, Oyo State, between 2007 and 2011. In this interview with WALE IGBINTADE, the current Chairman, Legal Aid Council, LAC, speaks on the quarterly assessment of judges and leadership crisis in the National Assembly, among others. Excerpts:

What is important is that the criteria for appointment is met, the person to be

appointed a judge must have integrity, sound knoWledge of the laW and really

desires to take the job.

National Mirrorwww.nationalmirroronline.net 43Monday, July 6, 2015 Law & Justice

Incompetent judges should step aside —Ayorinde always advocated that it should be open, it does not really have to be the Supreme Court, if you’re interested in the Bench you could still find your way to the Court of Appeal or even the High Court or the Federal High Court or even the National Industrial Court because these are places where most of the judicial decisions are going on day in, day out. These are places they really need your skills. A seasoned Senior Advocate sitting as a High Court judge has nothing new that will surprise him or her. So, he takes the case and makes life easier for the appellate court or the apex court when the matter gets there.

Is plea bargaining part of our juris-prudence?

Plea bargaining is not alien to us; it is you admitting or conceding to charges. Basically, what you have done is to say look, the State does not have to spend resources on prosecut-ing me, I am conceding to this, I am conced-ing to that, I will not concede to one or two other things but, because I am not going to waste the time of the State, can you consider a lesser punishment for me?

Now, the problem that we have in Nige-ria is having sentencing guidelines and the rules for plea bargaining. There’s always ev-erything to be gained with being open with information. If we have proper sentencing guidelines, we have guidelines on plea bar-gaining, it will be known to everybody. So, the parameters of the plea bargain, the param-eters of the punishment will not be strange to anybody. They will not be screaming that a man has stolen N10 billion and you tell him to pay back N50 million and he should go to jail for one month while somebody steals N200 million and you send him to jail for life. It’s a matter of having regulations as to the plea bargaining process, how it should be done.

For instance, in America, it’s something that is well- documented, the rules are there so, the moment you’re arrested the first thing your lawyer tells you is that look, listen, don’t let us waste time, if you concede to this, this is what will happen so it takes it out of a pro-cess of negotiation that is open ended, where it is open ended, corruption can creep in but where there is regulations as to the limits that you can go on each issue then the avenue for corrupting the process is completely re-

moved and the worst greatly reduced. Cor-ruption will creep in into any system that is not well regulated. If the rules as to sentenc-ing are very clear then the other corrupting influences will have no space to hide under. It’s not only a Nigeria problem, if you do not have proper rules and regulations guiding a process, anywhere in the world, it will be abused.

Opinions are divided over the leader-ship tussle at National Assembly. What is your take on it?

If you look at the standing orders of the Senate, you know that there are orders that regulate their proceedings particularly Or-der 3 of the standing orders. Rules 1 to 5 is very clear. It states that “a senator- elect may before taking oath prescribed in the seventh schedule of the Constitution of the Federal Republic of Nigeria take part in the election of the President and deputy President of the Senate.”

So, once the President sends the letter to the Clerk of the National Assembly for proc-lamation and which letter was sent and re-ceived by the clerk, gave a date and the time, it is now up to the Senators -elect because the word there is ‘may’, it is up to them to now go there on that particular date and that par-ticular time.

So, if time is given and date is given and some Senators chose to go to somewhere else, the ones there because the word is ‘may’, they can choose to either go there or go somewhere else, if they choose to go somewhere else and the others carried out the business of the day, legally, can they complain? The answer is no, that is the legal question. Talking about the morality of what happened; you will see that it was a game of politics. The gentleman that emerged as Senate President clearly had some members of his party behind him and he went further to also woo the members of the opposition, which is the PDP and he got their bloc vote.

Now, can we say what he has done is im-moral? My answer would be no, because he went out to woo them and they agreed with his course, his position and they voted for him. So, if he had participated in the so called mock poll and he has lost out then he goes behind to go against the position of his

party then that will raise some moral ques-tions. But from day one, he never said that he was in agreement with his party’s position. He stood on his ground from day one until he won the election and from what we are see-ing, can we really say that he went against a party decision? Maybe he went against the position of some of the leaders of his party but clearly, as everyone can see, some other leaders of the same party were very comfort-able with the outcome. We hope that they will manage it very well so that we can move on.

How do you see that a recent revela-tion N9 billion has been earmarked as wardrobe allowance for lawmakers?

My position from the inception of this democratic experiment is that apart from principal officers in the legislature in both federal and states and even local government that all other members should be there on part- time basis. Secondly, it is the constituen-cies that should pay the salaries of their rep-resentatives. If you’re representing Eti-Osa and Eti-Osa is affluent and can sufficiently pay you N3million monthly so be it and if you’re representing without any disrespect, a constituency that is not that affluent and they say they can only pay you N500, 000 or N250, 000 per month, so be it!. This will tie the representative to the constituencies because they are the ones that will pay his salaries. He goes back to them all the time, not when he becomes honourable member then he dis-appears to Abuja and comes back to sink five bore holes before the next election.

For me, we must fashion out a way where the people pay their representatives and it should not be from the common purse be-cause they represent them. If their emolu-ments, their salaries are tied to the people then the issue of dressing allowance in bil-lions will not even arise. It is because they have the opportunity to determine what they

will earn that all these issues are coming up and it has always been like that since 1999. It is just that now the agitation is high because of the promise of change.

I do not envy the current legislatures and government because Nigerians now, are so enlightened about the democratic process and everybody is watching out as to what will happen. The issue of dressing allowance and all sorts of allowances should not re-ally come up, if you want allowances for your staff, your aides, all these should be cut into two, legislative aide for a member who is not a principal officer should not be more than just one assistant.

The seventh National Assembly passed some bills one of which says principal members of the legislature are entitled to life pension. What is your take?

Well, I do not see anything wrong in hav-ing certain emoluments but, first of all, make it public. Again, in any job, before you’re pen-sionable, you must have served for a certain number of years and I’m not sure whether in any other job you can receive pension af-ter serving for four years or after eight years. What we know about pension in most cases come when you’ve been in service may be 20, 25 years. If a legislator has served for four years or eight years then he allocates pen-sion for himself I think such laws should be struck out, it is not good enough for us.

But if you have been in service for 20 years then put such a bill up, open it to the public for debate because Nigerians are not unreason-able. If they see the value of your work, they will not begrudge you but where you have an instance of governors not paying salaries for eight months then you now throw up a pen-sion bill for such a governor, what do you ex-pect from people? They will be very unhappy so, it is now trying to find a balance between the governed and the governors.

If a legIslator has served for four years or eIght years, then he allocates pensIon

for hImself, I thInk such law should be struck out, It Is not good enough for us

National Mirror www.nationalmirroronline.net44 Monday, July 6, 2015Law & Justice

FagbohunLayonu

Belgore

Adegboruwa

‘Election tribunals have made corruption on the Bench more endemic’

Alfa, the gentle jurist of Fulani stock

them. Commenting on the recent disclosure

by the CJN, former Dean, Faculty of Law, University of Benin, Prof. Itse Sagay, SAN, said the number of judges retired for gross misconduct was not enough, adding that more should be disciplined.

According to him, the love of money had led many judges to sacrifice their ca-reers and reputation.

He said, ‘’It is not on the high side be-cause of the level of rot and corruption that has eaten deep into the fabric of this nation. Many of our judges have taken to materialism and worship of money through association with politicians. Many, in order to enjoy a good life, sacrificed their careers and service, integrity and reputa-tion. They are looking for wealth to look af-ter their next generation of their family’’.

He added that something drastic must be done to sanitize the judiciary and make it unpleasant for them to associate with politicians who have plundered the na-tion’s resources.

In his view, Dr. Abiodun Layonu (SAN), said there was nothing alarming about the number announced by the CJN, adding: “It is what they are disciplined for that mat-ters. Then we must commend NJC because evidence of corruption is not easy to un-cover’’.

The Director of Research, Nigerian In-stitute of Advanced Legal Studies, Lagos Prof. Lanre Fagbohun said the judiciary had been confronted at different times with evidence of infiltration of corruption.

According to him, the high number of judges that have been found wanting was an indication that the system is becoming stricter.

He said ‘’I see this as a good develop-ment. A judicial officer occupies a unique and sacred position. Consequently, where a judicial officer violates or acts in breach of his oath of office, and of the high stan-

dards expected of such officers’ exalted office, the expectation is that the regula-tory structures will appropriately respond where same is functional. This is the con-cept of judicial accountability.

‘’We cannot run away from the fact that the judiciary has been confronted at differ-ent times with evidence of infiltration of corruption. To be fair, other branches of Government are no exception. However, the reason why that of the judiciary is more worrisome is that it is the institution that is constitutionally structured to check the other institutions. That is why all ef-forts must be geared towards strengthen-ing the judiciary by effectively addressing both capacity and integrity issues.

I’m not in any way discouraged by the high number of those that have been found

wanting. Rather, it is an indication that the system is becoming stricter. We need to ag-gressively build on this, taking care to re-view the entire process right from point of appointment through to monitoring.

He said, ‘’I mentioned monitoring be-cause for some judicial officers, to sit at 9am is an aberration. Their day starts at 10.30am up. For some others, an affidavit of urgency means nothing. There was the case of a woman who was mentally ill and there was the need to appoint a guardian for her. Applications were filed with af-fidavit of urgency. The judicial officer to whom the matter was assigned, and who happens to be a woman gave a date three weeks from date it was assigned to her. The matter was not in any way conten-tious. To me, this is mockery of justice. Of


Judicature

Francis FamorotiHEAD, JUDICIARY

Justice Salihu Modibo Alfa Belgore fondly called S.M.A. Belgore was one of the notable jurists of the Supreme

Court of Nigeria, which served as a justice and Chief Justice of the country between 2006 and 2007.

Belgore is known for maintaining a very stern look while performing his duties as a Judge, but he has always been looked upon as a very pleasant person with an endear-ing demeanour . As is necessary for any Judge, Belgore was focused on his duties and responsibilities at all times, especial-ly while in public where he has become a widely recognised and respected figure. His lordship is ever proud to say that he is of Fulani extraction.

Born on January 17, 1937, in Ilorin, Kwara State, North-Central Nigeria. He

attended Okesuna Primary School as well as Middle School at Ilorin before he pro-ceeded to Ilesha Grammar School where he obtained the West Africa School Certifi-cate in 1956. He pursued a correspondence Advanced level course and later received a

Bachelor’s degree in Law in 1963. He also called at one of the Inns of Court in Lon-don before he returned to the country in 1964 and served as Associate Magistrate in the judiciary of Northern Nigeria.

Belgore served there in various capaci-ties as a Judge for more than a decade. In 1977, he was appointed Chief Judge of Pla-teau State and remained in that position until 1979 when he became a Justice of the Court of Appeal. After serving in this office for nearly 10 years, Belgore was elevated to the Supreme Court Bench in 1986.

During the 20 years that Justice Belgore served on the Supreme Court Bench, he did so with dignity and prestige. He was the Chairman of the Federal Judicial Ser-vice Commission until he retired in 2007.

Belgore himself declared in a media in-terview that ‘’I served the country in my judicial capacity for 43 years. I started in 1964 as a young magistrate and I retired in 2007 as a judge of the Supreme Court.’’

Among the cases he handled was Mo-hammed Abacha-v- The State, where he made an obiter that the prosecutor should be wary of persecution rather than pros-

ecution. He also presided over the panels that decided Dr. Oladipo Maja-v- Mr. Cos-ta Samouris, Muda Aiwoyi & co-v- John Bankole Shodeke & others and Race Auto Supply Ltd-v-Alhaja Faosat Akib among others.

On the allegations of corruption against judges in Nigeria, the retired jurist said ‘’Nigerians have always accused judges of corruption. But most of the charges have not been proved. If you trace unusual wealth to somebody, there can be a pre-sumption of corruption. But you have to prove it. It is alleged that some people are corrupt. That is not enough. From 1981 to the day I retired, I always declared my as-set. Political leaders and judicial officers are supposed to declare their assets at the beginning and at the end of their service. But I don’t know if this is being done.’’

In 1986, he was appointed to the Bench of the Supreme Court of Nigeria as Jus-tice. He had held several positions in the judiciary before he was appointed as Chief Justice of Nigeria on July 2006, a position he held until January 2007 when he retired.

course, the process was abandoned. These are the kind of situations that destroy public trust and the credibility of the judi-ciary. It is important to have coherent and effective plan for consistent monitoring. Current efforts must therefore be greatly commended. ‘’

In his view, another lawyer, Mr. Ebun Olu-Adegboruwa said ‘’ the legal profes-sion is facing serious threat of eclipse. The legal profession is endangered presently. I believe the NBA should do something like it was done during the time of Olu Onago-ruwa, when the Eso panel was set up. Cer-tain individuals were fingered and they were dealt with. But, since the advent of election petition tribunals, corruption in the judiciary has become more endemic because of temptations politicians push to judicial officers. So, I believe that election petition has had an adverse and negative effect on legal practice in terms of get-ting justice according to law, according to fear of God and according to peoples’ con-science. So the legal profession is endan-gered’’.

However, the challenge before the new civilian administration is to tackle this menace seriously.

We cannot run aWay from the fact that the judiciary has been confronted at different

times With evidence of infiltration of corruption. to be fair, other branches of

Government are no exception.

National Mirrorwww.nationalmirroronline.net 45Monday, July 6, 2015 Law & Justice

The late Fawehinmi The late Giwa

About 33 years ago, the late journalist, Dele Giwa, was arrested over reports on the Republic building fire incident. He was subsequently charged with a breach of the Official Secrets Act before a Federal High Court in Lagos, but was later discharged and acquitted, writes FRANCIS FAMOROTI, Head, Judiciary.

Sometimes on Friday, October 29, 1982, the then Editor, Sunday Concord, Dele Giwa was arrested over reports on the

Republic building fire incident and the sub-sequent probe panel on the causes of the fire incident. Sunday Concord had on October 24, 1982 serialised the yet to be officially released government White paper on the incident. The publication roughened official feathers, leading to the arrest of Giwa on October 29, five days after the publication.

Ahead of Giwa’s arrest, a group of police-men led by Mr Raphael Osanaiye, then a Su-perintendent of police had stormed the Edi-tor’s No. 11, Adolphous Davies Street, Ikeja, Lagos residence to apprehend him.

Giwa was subsequently charged before the Federal High Court for allegedly contra-vening the Official Secrets Acts of 1962. The charge, No. FHC/L/390c/82 and initiated by the then Attorney-General Of The Federa-tion as the complainant against Giwa and Concord Press of Nigeria Limited, cited as accused persons.

The three-count charge reads among others ‘’That you Dele Giwa of No. 11, Adol-phus Davies Street Ikeja, Lagos and Concord Press of Nigeria Ltd of Concord House, 42, Concord Way, Off Murtala Muhammed Air-port Ikeja, Lagos on or about the 24th day of October, 1982 in Ikeja in the Lagos Judicial Division of the Federal High Court, did re-produce a classified matter, to wit-draft of the Federal Government Views On the Re-port of the Republic Building Fire Incident Tribunal of Inquiry - on the Sunday Concord Newspaper Volume 3 No. 86 of 24 October, 1982, which matters you are not authorised on behalf of the government to reproduce and thereby committed an offence contrary to Section 1 (1) (b) and punishable under Section 7(1) (a) of the Official Secret Act 1962 (No. 29 of 1962 Laws of the Federation), as amended by the Criminal Procedure (Amendment) Act 1966 (No. 12 of 1966 Laws of the Federation).’’

Giwa pleaded not guilty to the charges dated 17th day of November, 1982.

The late Chief Gani Fawehinmi (SAN) stood in for the accused persons while the Director of Public Prosecutions, (DPP), Fed-eral Ministry of Justice, Mr. Ben Nwazojie, was the prosecutor. But despite the charge, for reasons best known to the police, they still harassed Giwa, that the General Man-ager of Concord Press, Yaya Awosanya who stood surety for him at the police station, should produce him at the police station, a move which elicited a strongly-worded letter from Gani Fawehinmi to the Police Commis-sioner.

In a letter dated December 19, 1992, Gani Fawehinmi declared: “The Concord Press of Nigeria Limited was charged this morn-ing before the Federal High Court No. 5 pre-sided over by Hon. Mr. Justice Kachickwu. I enclosed herewith a copy of the charge. Mr. Dele Giwa who was to be charged with

the Concord Press of Nigeria had not been served.

“Mr. Awosanya, the General Manager of Concord Press of Nigeria Ltd. told me this morning that you insisted that he should produce Mr. Dele Giwa within 36 hours from yesterday. I wonder why this development should take place, knowing fully well that as at yesterday, Thursday, the 18th of No-vember, 1982, a criminal summons had been signed by a Judge of the Federal High Court to be served on Dele Giwa.

“Perhaps it is necessary to emphasise to you that once a criminal summons is issued, the investigation being conducted by the po-lice terminates. As it was in the course of the investigation that Mr. Awosanya stood surety for Mr. Dele Giwa and since that in-vestigation has terminated, the suretyship lapses.

“All that the police need do now is to effec-tuate service, on behalf of the court, of the criminal summons against Mr. Dele Giwa. I refer you to Section 88 of the Criminal Pro-cedure Act which reads thus: “Every sum-mons shall be served by a police officer or by an officer of the court issuing it or other public servant.”

“It is also relevant to advert your mind to Section 89 and 90 of the Criminal Proce-dure Act. Section 89 which reads thus: “The person effecting service of summons shall effect it by delivering it: (a) If on individual, to him personally or (b) If on a firm or cor-poration — (i) to one of the partners,(ii) to a director, or .(iii) to the secretary, or (iv) to the chief agent within the jurisdiction, or (v) by leaving the same at the principal place of business in Nigeria of the firm or corporation, or (vi) to anyone having, at the time of service, control of the business of the firm or corporation, or (c) If on a native authority then in accordance with the pro-vision of Section 62 of the Native Authority Act or (d) If on a local government council then in accordance with Section 207 of the Eastern States Local Government Laws 1955.”

“For you to continue to call on Mr. Dele Giwa after a formal charge had been laid be-

fore the court against Mr. Giwa amounts to illegal harassment of Mr. Awosanya because you have ceased to be legally in control since your investigation terminated and after the summons had been signed by a Judge.

It is incontrovertible that the matter is squarely in the hands of the court and not in the hands of the police anymore. May I inform you that Mr. Awosanya represented Concord Press of Nigeria in the charge be-fore the Federal High Court No. 5 today and he was granted bail in the sum of N5,000.00 - in his own recognizance. There is doubt therefore that Mr. Awosanya is no longer un-der your control but that of the court.

“Finally, and this is very important, if you desire to effect service behalf of the court of the criminal summons on Mr. Dele Giwa, you can do this through our cham-bers. I can assure you that I will accept that summons. There is no point in your harass-ing Mr. Awosanya. Obviously you have no right to continue to call on him to show up in your police station. For your information, the criminal charge| a copy of which is at-tached to this letter, has been adjourned the 6th of December, 1982.”

However, in a dramatist twist, when the case came up for hearing, the DPP, Mr Nwazojie, acting on the directives of the Federal Attorney-General, Chief Richard Akinjide(SAN), entered a nolle prosequi by virtue of section 160 of the 1979 constitution and Dele Giwa was subsequently discharged and acquitted.

But his freedom was short-lived as he flew

into another turbulent weather when he was again arrested on February 2, 1983 again for allegedly flouting the Official Secrets Act. Giwa, this time around was accused of pub-lishing a mere correspondence between the Attorney-General of the Federation and the Inspector-General of Police. He was detained at Alagbon close police cell, Lagos.

He was subsequently charged before Jus-tice Fred Anyaegbunam of the Federal High Court after the Attorney-General, Chief Richard Akinjide had granted his consent pursuant to section 7(3) of the Official Se-crets Act of 1962.

The three-count charge reads among oth-ers ‘’ That you, Dele Giwa of No. 11 Adolphus Davies Street, Ikeja, Lagos and the Concord Press of Nigeria Ltd., of Concord House, 42, Concord Way, off Murtala Mohammed Air-port, Ikeja, Lagos on or about the 30th day of January, 1983, at Ikeja in the Lagos Judicial Division of The Federal High Court, did re-produce a classified matter, to wit - copy of a letter dated 14th December 1982 written by the Honourable Attorney-General of the Federation and Minister of Justice, Chief R.O A. Akinjide, S.A.N., to Mr. S A. Adewusi, C.F.R., N.P.M., the Inspector General of Po-lice, on the Sunday Concord Newspaper, Vol. 3 No. 100 of 30th January, 1983.

Giwa was also alleged to have reproduced a classified matter, – copy of a letter dated December 31, 1982, written by the Attorney-General of the Federation and Minister of Justice, Chief Richard R.O.A. Akinjide, S. A .to Alhaji S. A. Musa, Makaman Nupe, Sec-retary to the Government of the Federation, on the Sunday Concord Newspaper of 30th January 1983.

As usual when the legal fireworks began, Fawehinmi, defence counsel, challenged the jurisdiction of the court, an application that Justice Anyaegbunam dismissed. Un-deterred, Fawehinmi appealed to the Court of Appeal and asked for stay of proceedings. It was supported by a nine-paragraph sworn affidavit by Giwa and dated April 11, 1983.

Eventually, the government again with-drew the charges before the interlocutory appeal could be heard.

How Dele Giwa was charged with Official Secrets Act

FAMOUS CASES

Giwa was subsequently charGed

before the federal hiGh court in

laGos, for alleGedly contraveninG the

official secrets acts of 1962

46 National Mirror www.nationalmirroronline.net

Indian S’Court says no to compromise in rape cases

Carpenter to spend 30 years in jail for murder

NEW DELHI

Monday, July 6, 2015Law & Justice

AUSTRALIA

The Supreme Court in India has held that there can be no

compromise in a rape case in the name of promising wedlock.

Days after the Madras High Court favoured me-diation in a rape case, the Supreme Court held that it would be a “spectacular error” to adopt “any kind of liberal approach” in sexual assault cases.

A report by ABC stated that the court was hear-ing a case related to an at-tempt to rape a minor in Madhya Pradesh in 2008.

“The conception of compromise, under no circumstances, can be thought of in a case of rape or attempt to rape,” said a bench of Justices Dipak Misra and P C Pant.

“Dignity of a woman is a part of her non-per-ishable and immortal

A Sydney carpenter has been sentenced to a maximum 30 years

imprisonment for the brutal murder of his estranged wife at Taren Point, in Sydney’s south.

Christopher Cullen, 51, was found guilty of repeat-edly stabbing Victoria Comrie Cullen and cutting her throat in January 2014.

According to ABC report,

I was supposed to ap-pear with a senior col-league of mine from

the Ministry of Justice before he told me that he was proceeding on leave. When I got to court, it was a criminal matter before Justice Awobiyi, I told the court that I am holding

brief for a colleague of mine, who has just started his leave and the judge said I should continue with the matter.

Though we have al-ways been taught in the ministry of Justice the things expected of a law-yer in court and what a

lawyer should also ex-pect from the court.

We have often been trained to have good advocacy skills so as to have good days in court; I had no excuse but to continue with the mat-ter.

I got up, and fortu-

nately for me I was prop-erly guided by senior colleagues at the bar be-cause they knew I was a new wig.

The judge was not too harsh on me when I ad-dressed the court and I was able to continue with the matter. Omotola-Rotimi

I was guided by senior colleagues —Rotimi

Australian Prime Minister, Tony Abbott

Indian Prime Minister, Narendra Modi

Russian President, Vladimir Putin

European Court to consider hostage case against Russia MOSCOW

The European Court of Human Rights has agreed to consider two central parts of a case

filed against Russia over its han-dling of the bloody school hostage-taking in Beslan over 10 years ago that claimed 334 lives.

The case was brought against Russia by 447 nationals, who maintained the state violated several articles of the Eu-ropean Convention in its resolution of the crisis.

A report by Radio Liberty says the court in Strasbourg held that it will con-sider the case in relation to two articles, including Article 2 on the “right to life,” seen by the plaintiffs as central to their case.

In September 2004, militants stormed a school in Beslan, in the southern prov-

to holding next year’s parliamentary vote several months earlier.

Lawmakers in the Kremlin-con-trolled parliament in June gave tentative approval to a bill that would move up next year’s vote by three months, a tac-tic that has been decried as an attempt to weaken the opposition.

The Constitutional Court ruled that holding the election three months ear-lier does not contradict Russia’s consti-tution.

The report added that the ruling cleared the final hurdle for the parlia-ment to move the 2016 election from De-cember to mid September.

It would likely result in a lower public interest in the campaign, as many Rus-sians go on vacation in the summer, and benefit the ruling party which tends to garner more votes when the turnout is low.

ince of North Ossetia and took more than 1,100 children and teachers hos-tage.

The school was surrounded by secu-rity forces, culminating on September 3 in explosions and a hail of bullets.

In a related development, Russia’s highest court has given the green light

zzzz LEGAL TIPS

The principal and most direct leg-islation on em-

ployment matters in Nigeria is the Labour Act, which was enacted in 1971.

*A worker or an em-ployee is described un-der this Act as a person who enters into a con-tract of employment with an employer; whether such a con-tract is a contract of service or a contract to personally execute any work or labour.

*The Labour Act requires that within

Issues in Contract of Employment

it acceptable to send a bill for such advice?” The lawyer replied that it was certainly ac-ceptable to do so.

The next day, the doctor sent the ulcer-stricken man a bill. The lawyer also sent one to the doctor.

Keep that a secretAfter many years of hard work, Joe re-

warded himself with a long, luxurious stay at an exclusive Carribean resort. While re-laxing on the beach, he was surprised to see a former high school classmate who he hadn’t seen since they graduated. His old friend had been something of a “burnout” in high school, and this was the last place Joe expect-ed to see him.

Joe approached the man, and seized his hand. “Pete, it’s Joe. From high school. It’s sure been a long time. You look great! You must really be doing okay for yourself.”

“I am,” whispered Pete. “I am a partner with a very successful law firm. But don’t tell mother. She got the idea that I was a drug dealer back when I was in high school, and she would be terribly disappointed if she figured out how I really make my money.” Culled from Barjokes.com and Cool Funny Jokes: Lawyer Jokes.

Unfit words to hearA woman was being questioned in a court

trial involving slander. “Please, repeat the slanderous statements you heard, exactly as you heard them,” instructed the lawyer.

The witness hesitated. “But they are unfit for any respectable person to hear,” she pro-tested.

“Then,” said the attorney, “just whisper them to the judge.”

Free advice at social affairs?A doctor and a lawyer were attending

a cocktail party when the doctor was ap-proached by a man who asked advice on how to handle his ulcer. The doctor mum-bled some medical advice, then turned to the lawyer and remarked, “I never know how to handle the situation when I’m asked for medical advice during a social function. Is

self and no one should ever think of painting it in clay. There cannot be a compromise or settlement as it would be against her honour, which matters the most. Any kind of liberal approach or a thought of mediation in this regard is thoroughly and com-pletely sans legal permis-sibility,” it said.

The court stated that any proposal by the ac-cused to marry the vic-tim was an attempt to put pressure.

Cullen showed no emotion as he was sentenced to 30 years’ jail with a non-parole period of 22 years.

Former colleagues and friends of Ms Cullen wept dur-ing his sentencing comments.

“He [Cullen] did not express remorse or contrition,” Jus-tice Harrison said.”Mr Cullen

callously decided to kill the de-ceased for his own selfish and personal reasons.”Her death was unnecessary, unwarrant-ed, unfair and inexcusable.

“The death of the deceased is another example of the ex-tremely prevalent violence perpetrated by men in our so-ciety against women to whom they are married or with whom they share a relation-ship of domestic intimacy.

BarJokesthree months of the

engagement of an em-ployee, an employer must give to the employee a written contract of em-ployment, which con-tract must specify, among other things, a descrip-tion of the parties to the contract of employment, the nature of the service or services to be rendered under the contract of em-ployment, the tenure of the contract, including its probation period, and the remuneration, which must be paid in the legal tender of the country where the contract is en-

tered into.*It should also in-

clude the hours of work, mandatory holi-day with paid leave, rules with regard to periods of incapacity to work due to sick-ness or injury, mater-nity leave, the appro-priate period of notice to be served before the contract can be ter-minated and possible grounds for dismissal of the employee with-out notice, etc.

Culled from Legal Alert/ Proshare online investment community.

National Mirrorwww.nationalmirroronline.net 47Monday, July 6, 2015

L-R: Former NBA Chairman, Mr. Abiodun Dabiri; Pa Tunji Gomezi; Chairman, Law Week, NBA Lagos branch, Mrs. Tolani Edu-Adeola; Chief Emmanuel Ofulue and two other honourees at the NBA Elders’ Night and Awards.

(L-R) Member, Law Week Committee, NBA, Lagos branch,, Mr. Emeka Nwadioke; General Secretary, NBA Lagos branch , Mr. Adebola Lema; Medical law expert, Mr. Laolu Osanyin and branch chairman, Mr. Alex Muoka at the NBA Law Week in Lagos, recently.

Ola Olatawura

In the absence of a federal law, the constitution should be made more flex-ible to expressly allow states promote

and secure values and decency by providing anti-corruption standards and qualifications for elective public office, including persons participating in federal elections and offices. With federal or state legislation, the quality of politicians and the polity can only be en-riched. The mine sweeper point to be made is that the current framework represents only a minimum legal criteria and any other addi-tional reasonable federal or state legislation would be valid and consistent with the spirit and letters of the constitution. Examples of the current weaknesses of practice are those of a senator elect wanted abroad for drug peddling, another senator lined for prosecu-tion for unjustified enrichment through state contracts and funds principally through family connections, and a governor known to have kicked an innocent person to death becomes re-elected. Tolerance of such can-didacies can only inspire such conduct from others.

III. CONCLUSIONEven though there is much skepticism, Ni-

geria can truly become a corrupt free nation through a regime disposed to proficient and

Matthew IrInOye

The President of the Nigerian Bar As-sociation, Mr. Augustine Alegeh, SAN, has reiterated the commitment of the

bar in assisting security bodies to eradicate corruption within the country.

Speaking with the newsmen during a one -day seminar tagged “The fight against cor-ruption in Nigeria: the way forward”, organ-ised by the anti-corruption commission of the NBA, Alegeh, said that since attaining independence over 54 years ago, Nigeria has continued to grapple with the unending issue of combating corruption.

The NBA leader added that despite the es-tablishment of anti-corruption agencies such as the Independent Corrupt Practices Com-mission (ICPC) and the Economic and Finan-

A cross-section of participants at the Law Week, NBA Lagos branch. (L-R) Life Bencher, Chief Badru Olaogun and former FIDA International President, Mrs. Stella Ugboma.

pro-active systemic legal reordering. The re-ality of the election of the Buhari-Osinbajo Presidency is a spiritual tonic for hope and confidence. It must be stated though, that other non-legal potential remedies, includ-ing personal leadership examples, are need-ed, and are available. The resolute will to do the right things is the true beginning for such a huge task. The challenge the regime faces is mainly about following due process and having competent personnel with the zeal to take the anti-corruption fight and strategies to the next levels. Through its rec-ommendations, this paper, at the least, shows that in theory and practice, Nigeria has not done enough to combat corruption, and that the newly elected President and government must provide additional, more intelligence driven, firm and resolute legal remedies to effectively fight the ruination of Nigeria by corruption. In order to bring corruption to its knees, it exhorts the Buhari Government not to be dissuaded in doing more than its last anti-corruption committed predeces-sor. If corruption cum ruination is taken as an act of war against Nigeria, and the state fights back with the best human resources and right laws – statutes, international in-struments, and regulations - grand corrup-tion and the culture of corruption will cer-tainly be destroyed within a couple of years. The benefits of attaining this objective can-not be neglected. There will be the return of peace, prosperity, and unity through employ-

Combating corruption from 2015ment and investments. Nigerians will regain confidence in honesty, fairness, and disci-pline as civilised values, respect democracy and recover their love for the nation. If the regime fails, the belief in and clamour for the end of Nigeria, particularly from supporters and members of the Boko Haram would be rational and justifiable. Therefore, Nigeri-ans, irrespective of political and other lean-

ings, must work for the success of the anti-corruption activities of the newly elected Government headed by President Buhari.

ConcludedDr. Olatawura, of Goldmann Lagos

Transnational Lawyers, Abuja delivered this paper at a Seminar organised by the Adamu Ciroma’s Friends of Development of Nigeria in Abuja recently.

cial Crimes Commission [EFCC], the country appears to be helpless in its fight against cor-ruption.

He said “successive Governments had been quite vocal in their criticism of cor-ruption and had wasted little or no time to draw up road maps and policies which were claimed to be the final solution to end the endemic scourge of corruption. However, very little successes were recorded in this regard as these policies were either never implemented or when implemented, were ob-served more in breach than in compliance.”

The NBA President who frowned at the under staffed and lack of resources and tech-nical wherewithal to effectively investigate and prosecute corruption related offences by the Nigerian Police Force (NPF), also blamed the anti-graft agency for not being able to cur-tail corruption within the country.

NBA president reaffirms pledge to support fight against corruption

Law & Justice

CONTINUED FROM LAST WEEK

EVENT

48 National Mirrorwww.nationalmirroronline.net

Monday, July 6, 2015

Community MirrorWith all due respect to the former Minister Okonjo-Iweala, she knows how to play around with statistics. I have made the point, she keep opening part of the pages and not the entire book.

Governor of Edo State – Adams Oshiomole

People producing palm oil in Okubuchi-Irruan, Boki Local Government Area of Cross River State, yesterday. PHOTO: NAN

Dare akogun

National Emergency Management Agency, NEMA, South West

zone, has disclosed that vari-ous disasters in the zone have claimed the lives of about 23 persons, including seven children with a six months old baby consumed by fire.

This was contained in the review of its activities from March to June 2015, made available to pressmen in La-gos.

NEMA South West zon-al spokesperson, Ibrahim Farinloye, also said the agency recorded two sui-cide attempts as one person, who climbed a television mast, was rescued, while the

Six-month-old, 7 other children lost to disaster –NEMA

Matthew IrInoye

Pastors and workers of some Pentecostal church-es have petitioned the

Financial Reporting Council of Nigeria over its plan to pro-mote the ”Not for Profit Code 2015” against religious organi-zations in the country.

The code seeks to nullify the-ocracy in the church which is ascendancy of rulership and headship of the church by spiritual means. It sought to impose democracy as preferred means of assumption to struc-tures of the church leadership in the area of appointment, tenure and succession.

The aggrieved churches include Redeemed Christian Church of God (RCCG); Liv-ing Faith International, also known as Winners’ Chapel and Foursquare Gospel, Church. They alleged that promotion of the code was being mooted with active connivance of the Federal Ministry of Trade and Investment.

While addressing a news con-ference in Lagos, their counsel led by Bamidele Ogundele said “Governance in the church is a spiritual affair and that any at-tempt to separate spiritual af-fair leadership from adminis-trative leadership would bring dichotomy, create crisis within the churches of God and create

Pastors, others petition council over ‘Not for Profit Code 2015’

Controversy rages in Abia as two monarch’s rule one communitygeorge oparaABIA

Controversy is brewing in Eziama community in Aba North Local

Government of Abia State fol-lowing the appointment of a new monarch when their tra-ditional ruler, HRM (Eze) Isaac Ikonne, is still on the throne.

The community alleged that since Eze Ikonne gave Presi-dent Mohammadu Buhari the Igbo chieftaincy title of Og-buagu 1 of Aba (the lion killer) during the campaigns to the 2015 general elections when the then All Progressives Congress (APC) presidential candidate visited his palace, the govern-

ment of Chief Orji which was not happy with the monarch over the reception he accorded Buhari, looked for a way to undo their monarch.

Heads of the four kindred said the best way the past ad-ministration believed they could deal with Eze Ikonne was to split Eziama, which is only but one village more so when no such request was made by the people.

In the twilight of the Chief Theodore Orji administration in the state, Eziama-Ama-Aha was said to have been carved out of the present Eziama au-tonomous community and one Chief Udodiri Sunday made the Eze-elect.

In a petition signed by Chiefs Ogbonna Nkoro, Matthew Ohu-onu, Nwokeoma Ukomadu and Nze M.I Ahukanna, heads of the four kindred that made up Eziama, the community said they never applied to the State Government for the carving out of any other community out of Eziama since the auton-omous

community as presently constituted was too small for another to be created out of it, nor did they select anybody as the Eze-elect.

They said it was an abomina-tion for anyone to parade him-self as the traditional ruler of any community when the one on the thrown was still alive.

multidimensional contradic-tions”.

Ogundele further said that the Sections 1.1, 8-40 of the code which impose General As-sembly and tampered with the structures in the church “Is anti-Christ, satanic agenda, illegal and a breach and an in-fringement of the fundamental rights of their clients to free-dom of thought, conscience and religion under Section 38(1) of the 1999 Constitution as amended and Article 8 of the African Charter of Human and Peoples Right (Enforce-ment And Ratification Act), Law of the federation 2004.

He said that the council has over stepped its powers and functions under Sections 7 and 8 of the Financial Reporting Council of Nigeria as well as duplicating the functions of the Corporate Affairs Commis-sion (CAC) under Companies and Allied Matters Decree, Law of the Federation 2004 which is saddled with the responsibility of registration and monitoring Churches and charitable orga-nizations.

He added that his clients are committed to the defence of rule of law and constitu-tionalism in Nigeria and have therefore decided to challenge the new development in court in order to prevent crisis in the church and to enforce their fundamental human rights at the Federal High Court, Lagos.

other died before help could reached him Ten persons suf-fered injuries in the course of the period under review.

According to him, “The Zonal Office recorded about 200 fire disasters incidences and several others that were handled by the efficient fire-men of Lagos State Fire Ser-vice who have been making effective use of the State-of-the Art fire appliances ac-quired by the state govern-ment, to attend to about five fire calls daily.

“However, it is dishearten-ing to say that in the period under review, a fire man was lost on duty line while trying to rescue a victim in a local well; he was in coma for a long before given up the ghost.

“This incident really damp-

ened the morale, passion and spirits of the Officers and men of Lagos Fire Service as it was the first time, the Ser-vice would experience such incident. The State Govern-ment, which has always ap-plaud the diligence of the service personnel, is pas-sionately implore to kindly urge to further look into en-hancement of the firemen welfare,” he stated.

Farinloye further re-vealed that, a total of 1675 houses and three hundred and 13 shops were affected by fire and windstorms’ di-sasters across the zone.

“Out of these, Lagos has a record of 989 houses and 219 shops affected while Oyo state has a record of 430 houses affected and Ogun

State recorded 280 houses and 85 shops affected by fire and windstorms’ disasters,” he added.

He disclosed that NEMA provided relief materials to victims of various disaster in 15 communities; Odofin, Agboju and Alakija in Amuwo Odofin LGA; Epe, Ogunmod-ede, Epetedo, Odo Iragbusi, Iraye, Poka and Ketu commu-nities in Epe Local Govern-ment Area; Ijede, Imota and Ikorodu in Ikorodu Local Gov-ernment Area; Ajara, Ibereko and Kakoa in Badagry Local Government Area; while Iba, Obadore, Abule Ado, Ije Ododo

and Okokomaiko in Ojo Local Government area relief mate-rials have handed delivered to Lagos State Emergency Man-agement Agency, LASEMA, for distribution to the victims.

“NEMA is hereby appealing to Nigerians and corporate or-ganisations to invest more in disaster risk reduction mea-sures to secure their lives and property.

“There is need for Nigeri-ans to be more fire safety con-scious in their course of their daily activities as fire disas-ter does not have any season when it can occur,” Farinloye stated.

National Mirrorwww.nationalmirroronline.net 49Monday, July 6, 2015 News

Police inaugurate special patrols in Delta

Police in Delta State have inaugurated special patrol teams

to ensure safety of road users in the state.

Police spokesperson, DSP Celestina Kalu, said this in a statement issued in Asaba yesterday.

She said the development followed a directive by the Inspector-General of Police, IGP Solomon Arase.

She noted that the IG re-cently directed commission-ers of police in all states of the federation to strengthen security, especially on the highways under their juris-dictions.

“Delta State Commis-sioner of Police wishes to allay fears of the public that the withdrawal of military check-points nationwide will not lead to increase in crime.

“He assures the public and road users that the pa-trol teams will police all roads in the state on daily basis.

“The patrol vehicles are well-equipped with distress call numbers inscribed on each of them to enable mem-bers of the public report all occurrences of criminal ac-tivities.

“Although the ban on road blocks on the highway is still in force, patrol men could occasionally embark on stop and search as part of crime preventive/detective mechanisms.

“However, the officers have been directed not to use such duty for extortion pur-poses,’’ Kalu said.

She urged the public to report any policeman who engages in corrupt practices at their duty posts.

L-R: Chairman, Arik Air, Sir. Arumemi Johnson; his wife Dame Mary Arumemi-Ikhide and Edo State Governor, Adam Oshiomole, during the final burial of the Madam Margaret Odion Otoide, at St. Theresa Catholic Church, Uromi, Edo State, at the weekend. PHOTO: ADEYANJU OLOWOJOBA

Nigerian airlines lose over $180m to birds yearly —AON chairman

Chibok girls' parents alert public on fraudstersSome parents of ab-

ducted students of Government Second-

ary School, GSS, Chibok, Borno State, yesterday alerted the public on ac-tivities of some fraudsters using their children’s names to defraud individ-uals and corporate bodies.

More than 200 students of the school were abducted by suspected insurgents on April 14, 2014, while writing their final examinations.

Mr. Yakubu Maina, chair-

man of the association of parents of the abducted girls, raised the alert at a news conference in Maidu-guri.

“We wish to alert Nige-rians and corporate organ-isations of the existence of some individuals and or-ganisations masquerading as parents of the abducted Chibok girls to defraud them.

“The call became neces-sary because this group has turned the agitation for re-

Olusegun KOiKi

Umbrella body of car-riers in the country, Airline Operators

of Nigeria, AON, has raised the alarm that it loses over $180 million annually to in-cidence of bird strikes in the country’s airports and airfields.

The body also attrib-uted over 70 per cent of air crashes in the country to in-adequate navigational aids, negligence and insufficient oversight functions of gov-ernment parastatals in the sector.

Speaking on behalf of its members in Lagos over the weekend, chairman of AON, Capt. Noggie Meggi-sion, revealed that opera-

tors lose 30 engines to bird strike incidents in a year, stressing that the engine of an aircraft is sold for be-tween $40 million and $70 million, depending on the type and capacity of the air-craft.

Meggison stressed that apart from mechanical errors associated with airplanes, inefficiencies and negligence of avia-tion agencies contribute massively to air accidents and incidents in the sec-tor, saying that despite the fact that reports of such ac-cidents and incidents were published, government has not learnt from them.

He said: "'We need to start looking at landing aids and landing areas at airports because over 70 per cent

What I said about ‘empty treasury’ not to ridicule anybody –Abubakar

Governor Moham-med Abubakar of Bauchi State said

his pronouncements on “empty treasury” he in-herited were for the pur-pose of placing on record for posterity the situation he met on ground.

He told heads of media establishments in Bauchi on Saturday night that he never intended ridiculing anybody, but he must protect the in-terest of the people as he had sworn to do so.

He restated that what he met was terrible, adding that apart from the empty treasury, even some facilities needed to conduct affairs of government were “carted away.

“I had to delay my written speech for days, cross-check-ing my facts to be sure that whatever pronouncements I made on the financial situ-ation of the state were cor-rect.

“Apart from inheriting an empty treasury, properties that would have assisted in running affairs of govern-ment were carted away.

“Brand new vehicles, some of them worth N20 million, were given to co-horts.

“The situation was so bad that I had to draft my person-al vehicles into my convoy while engaging in official function,” he said, stressing the need for those entrusted

with leadership responsibil-ities to use their discretion judiciously.

Commenting on the issue of unpaid salaries, he said he inherited three months’ salary arrears and had set-tled one month.

He described as unfair, some comment against his administration on the issue, adding that the burden of settling the salary arrears he inherited, rested on the previous administration, which failed to do so.

He wondered why those passing negative comments on the issue, maintained sealed lips when the regime that was supposed to pay the salaries, failed to do so.

The governor clarified issues on the promise by the Federal Government to assist states pay backlog of salary arrears, adding that although something is in the pipeline, the governors are yet to receive a kobo.

He said the clarification became necessary as some people who thought the gov-ernors had received bail-out funds, sent messages to him through the social media, urging him to settle the ar-rears.

Abubakar pledged to do his best in running the af-fairs of the state, adding that as a human being that could make mistakes, his doors were open for “constructive advice and criticisms.”

of air crashes in Nigeria are linked to negligence on the part of aviation parastatals and oversight deficiencies of regulatory agencies. For instance, the ADC crash was due to air traffic control issue; Wings aviation crashed due to wrong charting by the Nigerian Airspace Man-agement Agency, NAMA, while the crashed Associ-ated Aircraft of October 3, 2013, was on ground for 24 months before it was taken to the sky.

"We need to look at the issues and not sweep them under the carpet in Nige-ria. We have issues rang-ing from badly drained runway surface to failure of air traffic controllers to properly monitor runways,

lease of our daughters into a scam,'' he said.

Maina, supported by the secretary of the association, Mr. Lawan Zanna, lamented that the group had often de-ceived some parents of the girls into attending their functions only to be duped.

“We have realised that the whole thing has been turned into business by individuals who pretend to be fighting for our cause.

“Some real parents had been lured into attend-

ing meetings with highly placed individuals in Abuja and beyond only to discover that they have been short-changed by these individu-als,'' Maina said.

He said 14 parents of the abducted girls have died due to heart-related diseases.

“Fourteen parents have so far died since the abduc-tion of our girls in 2014.

``Most of them died due mainly to heart-related dis-eases and trauma,'' said the chairman.

among others."Also speaking, Director-

General of Nigerian Civil Aviation Authority, NCAA, Capt. Muhtar Usman, iden-tified ageing workforce, paucity of funds and sever-al other challenges facing the sector.

Usman, who was rep-resented by Director, Consumer Protection Di-rectorate, Mr. Adamu Ab-dulahi, however, noted that in the last couple of years, Nigeria has been invest-ing heavily on the training and retraining of its tech-nical personnel, stressing that government was also revamping the Nigerian College of Aviation Tech-nology, NCAT, Zaria, for personnel training in criti-cal areas.

…accuses agencies of inadequate equipment, oversight functions

In the few months that the two vice presidents have been in power, I have lost count of the times that I have sat down with them one-on-

one to talk about the development of Zimbabwe–WIFE OF ZIMBABWE PRESIDENT, AMAI GRACE MUGABE

Tunisian President, Beji Caid Essebsi, has declared a 30-day state of emergency, saying another attack such as the previous week’s terrorist massacre at a beach hotel would “cause the country to col-lapse.”

The declaration gives the military and police more authority to com-bat terrorism and places restrictions on such rights as public assembly.

In a televised address to the na-tion, Essebsi mentioned the terror group ISIS by name and declared Tunisia at war with extremism.

“Tunisia faces a very serious dan-ger and it should take any possible measures to maintain security and safety,” he said.

The decision comes in response to the June 26 attack in which a gunman opened fire at the beach-front Hotel Riu Imperial Marhaba in the coastal city of Sousse.

US Democratic presidential hopeful, Hillary Clinton, has ac-cused China of stealing com-mercial secrets and government information.

US officials had named China as the chief suspect in the massive hack of the records of a US gov-ernment agency earlier this year.

But China had denied any involvement, calling US claims “ir-responsible”.

Speaking at a campaign event in New Hampshire, Clinton said that China was stealing secrets from defence contractors and had taken “huge amounts of govern-ment information, all looking for an advantage.”

She added that she wanted to see China’s peaceful rise but that the US needed to stay “fully vigilant”.

A released video from ISIS yes-terday showed militants executing 25 captives in the ruins of a Roman amphitheater in the ancient Syrian city of Palmyra.

The graphic video began with images of the Quran, followed by gruesome scenes showing what appears to be the aftermath of fighting, with bodies in the street. Then it showed captives, heads down and dressed in dark fatigues, as they were herded single-file onto the stage of an ancient arena. A row of young men, many ap-pearing to be in their teens, stood behind the prisoners while an older man read a document to the as-sembled crowd.

Periodically, the video showed men seated on the crumbling stone seats. Some waved ISIS flags, but others appeared distressed, hiding their faces and crying.

AfolAbi GAmbAri,WITH AGENCY REPORT

Cash within the Greek banking system will run out in just a few

short days, a senior banking source said yesterday, amid fears that the financial crisis will force Greek companies to start laying off workers today.

“This is a fully fledged banking and economic crisis,” the source said, adding, “The rate of cash withdrawals has trebled in recent days, even with the limits.”

“Since I arrived in Athens, I have witnessed Greeks queuing at those cash machines that are working, to withdraw the maximum amount of cash they’re allowed under the restrictions implemented last Monday.

“People are taking out money around the clock, out of ATMs, on the internet transferring to HSBC-you name it, they are finding ingenious ways to get their savings.

“We desperately need a solution. It will not be long before our country is on

its knees, with the damage so great that it will be permanent.”

After the referendum polls closed last night, Greek Finance Minister, Yanis Varoufakis, met bank bosses, grouped together under the auspices of the Hellenic Bank Association, and the governor of the

this week, US Secretary of State, John Kerry, said yes-terday.

Kerry, who spoke in

Vienna, where Iran is negotiating with the US and five other powers, also warned that the two sides were “not where we need to be on several of the most difficult issues”.

Negotiators face a July 7 deadline as Iran’s foreign ministry said on Friday that a deal had never been closer.

“If hard choices get made in the next couple of days and made quickly, we could get agreement this week,” Kerry said.

Over the past few days, “genuine progress” had been made, he added.

Attacks: Tunisia declares emergency

‘Stolen secrets’: Clinton accuses China

‘How ISIS executed 25 captives’

Greek banks near ‘empty cash’

Kerry

Iran talks: Kerry assures on ‘a deal’

Debt latest: Greek banks near ‘empty cash’

World News

WORLD BULLETIN

National Mirrorwww.nationalmirroronline.netMonday, July 6, 2015

Bank of Greece, Yannis Stournaras, to seek ways out of the impasse.

Bankers also hope to hear what contingency measures are being discussed by the governing council of the European Central Bank, which meets today. A decision last Sunday by the ECB to cease providing

any additional emergency lending, called ELA, had forced the banks to close last Monday.

“My concern is that if there is no easing up of the restrictions, companies will start laying off workers tomorrow,” a senior banker said.

But the US was prepared to walk away “if we don’t have a deal and there is absolute intransigence and unwillingness to move on the things that are important”.

The so-called P5+1 group-the US, UK, France, China and Russia plus Germany-wants Iran to scale back its sensitive nuclear activities to ensure that it cannot build a nuclear weapon.

Iran, which wants international sanctions that have crippled its economy lifted in exchange, has always insisted that its nuclear work is peaceful.

An agreement on a deal with Iran on its disputed nuclear

programme could be sealed

50

National Mirrorwww.nationalmirroronline.net 51NorthMonday, July 6, 2015

Market stalls at Zabarmari rice farming settlement in Borno destroyed by suspected Boko Haram insurgents.

executives into office, while the All Progres-sives Congress, APC, boycotted the polls.

But in a suit filed at the state’s High Court by PDP’s solicitors, Bar-risters Uyi Igunma and Napoleon Idenala, the party wants the court to place a perpetual in-

junction restraining the government from its in-tended action.

Specifically, the party wants the court to re-strain the state govern-ment from “dissolving, suspending or in any other way removing all or any” of the 34 local government leadership

before “expiration of their tenure.”

In a sworn affidavit to support the originat-ing summons, the state PDP’s legal adviser, Barrister Lawal Amah, maintained that the plaintiff, PDP, is a reg-istered political party in the country on whose

platform the 34 council chairmen and 361 coun-cillors were elected on September 6, 2014.

Joined in the suit as first, second and third defendants are the gov-ernor, the Attorney General and the House of Assembly, respec-tively.

PDP sues Katsina govt over plan to dissolve councils

Gay marriage, Satan’s agenda –Anglican bishop

Group tasks Buhari on insecurity in Plateau

El-Rufai denies inheriting N8bn from Yero

PRISCILLA DENNISMINNA

Bishop of Minna Diocese, Rt. Rev. Daniel Yisa, has

faulted the United States of America on gay mar-riage, describing the move as Satan’s agenda and not of God.

This is coming after its Supreme Court made gay marriage it legal, barely one week earlier.

He called on Nigerian leaders to be firm on mor-al resolutions, pointing out that same sex mar-riage will destroy whoev-er practices it.

Yisa, who bared his mind on the issue while speaking with journal-ists after the 100 years (centenary) thanksgiving service at St. Peter’s An-glican Cathedral Church in Minna, yesterday, said: “Gay is not biblical or an African practice, and if God hates it, we all must hate it.”

Urging Nigerians to hold on to the gospel truth, the cleric added: “We

must know the basic truth of the Bible. As far as we are concerned as Nigeri-ans, same sex-marriage is not our portion. Whoever wants to do that can do it in his free volition, but should not necessarily say the Bible says so.

“The issue is that, as a nation, we keep calling on God without meeting God’s conditions. There are certain things we are not supposed to do and there are also those we are supposed to do if we have to remain His people.

“We, as Christians and members of the Anglican family, God is faithful to us, and we as humans should do our best to maintain that re-lationship with God. We cannot continue to wal-low in sin and immoral-ity and claim that He is our God.”

He said God is righ-teous, hence the need to serve Him by keeping ourselves righteous to maintain a cordial rela-tionship He established from the beginning.

JAMES ABRAHAM JOS

A youth group under the aegis of Plateau Youth G17 Peace and

Progressive Forum yester-day expressed concern over security situation in Plateau State, saying President Mu-hammadu Buhari is not do-ing much to tackle insecurity in the country since he as-sumed office.

It therefore, advised him to take immediate action against incessant attacks in Barkin Ladi and Riyom lo-cal government areas of the state or else the youths would

be left with no option than to defend their communities.

The group in a press state-ment signed by its leader, Hon. Dachung Musa Bagos, and made available to news-men in Jos yesterday, also condemned the killing of two students of Dalo Memorial High School, Foron, by sus-pected Fulani gunmen.

“We call on President Bu-hari, who is the political fa-ther of this nation, to wake up from his honeymoon and talk to this people; we want peace; we don’t want war; the youths are waiting for him to take action and stop these killings. But then, time

is not on our side; we will not fold our hands and watch our communities and innocent children wiped out on daily basis.”

The statement added: “On daily basis, people are being killed either in Barkin Ladi or Riyom local government councils and other Plateau villages; we are calling on the authorities concerned, espe-cially the Federal Govern-ment under the leadership of President Buhari to look at the issue because we are human beings and we have right to life. There has been a lot of bloodshed without provocation.”

Governor Mukhtar Ra-malan Yero did not leave N8 billion when vacating office.

El-Rufai, who was re-acting to the s ex-deputy governor, Nuhu Bajoga’s claims that his former boss left N8 billion in the state’s treasury, said what the present government met was only N228 mil-lion.

Addressing a news conference in Kaduna, el-Rufai’s special assis-tant on Media and Pub-licity, Samuel Aruwan, explained that former Governor Yero’s govern-ment actually left the state in deficit.

El-Rufai added that as a consequence of govern-ment’s conviction that the state is broke, it de-cided to cut costs and fo-cus the state’s resources on priority areas.

He explained why the

present government has restructured ministries and cut the number of po-litical appointees, warn-ing that the merchants of division, who thrive on reading sectional motives to policy decisions, would not deter his government from committing funds to building schools, hospi-tals and providing secu-rity in the state.

El-Rufai said: “I am here to dismiss claims by the former deputy gover-nor of our state, Mr. Nuhu Audu Bajoga, that the last government left over N8 billion as working money in the accounts of Kadu-na State government.

“Kaduna State govern-ment had N228,333,371.67 in its central account on 29 May 2015. This repre-sents the working capital that could be spent. All other items in the bank balance are committed

funds, and are not avail-able to be spent by govern-ment.

“These include coun-terpart and reserve funds clearly earmarked for specific purposes such as MDGs, SUBEB, Sure-P and state pensions, and as such cannot be termed available funds by any re-sponsible government.

“It is pretty disingenu-ous to infer that a state that is in obvious dire straits has robust financ-es, or delude to a conclu-sion that N8 billion on paper is available in real-ity.”

El-Rufai added that: “the Yero government that Bajoga served also incurred outstanding li-abilities of N370m by May 2015; that effectively leaves the state in deficit as the working capital of slightly over N228m can-not cover the liability.”

JAMES DANJUMA KATSINA

Peoples Demo-cratic Party, PDP, has sued Katsina

State government over its plan to dissolve the 34 local government ar-eas in the state.

The suit followed last Thursday’s announce-ment by Governor Aminu Bello Masari that his administration may sack chairmen and

councillors in the coun-cil areas.

Masari’s reason for the intended dissolu-tion, it was learnt, is premised on allegations of misappropriation of councils’ finances some days before and after the last general election.

Another reason is al-leged manner in which the former PDP govern-ment in the state hastily conducted the elections that brought the council

...says ex-gov left Kaduna in deficit AZA MSUE KADUNA

Kaduna State Gover-nor, Malam Nasir el-Rufai, said over

the weekend that past ad-ministration under former

National Mirror www.nationalmirroronline.netMonday, July 6, 201552 News

CHANGE OF NAME I formerly known and addressed as Miss Hadiza Dada David Yusuf, now wish to be known and addressed as Mrs Hadiza Adah-Onwu. All former Documents remain valid. The general public should please take note.

CHANGE OF NAME

CHANGE OF NAME CHANGE OF NAME




CHANGE OF NAME

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CHANGE OF NAME

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CHANGE OF NAME

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CHANGE OF NAME CONFIRMATION OF NAME CONFIRMATION OF NAME

CONFIRMATION OF NAME

CHANGE OF NAME I formerly known and addressed as Miss Onaolapo Tobi Opeyemi now wish to be known and addressed as Mrs Omoyajowo Tobi Opeyemi.All former documents remain valid.General public should please take note.

ANURUDU : Formerly known and addressed as Miss Anurudu Joy Anurika, now wish to be known and addressed as Mrs Ezenwanne Joy Anurika. All former documents remain valid. General public should please take note.

NWANKWEGU : Formerly known as Miss Nwankwegu Augustina Nkechi, now wish to be known and address as Mrs Nwovu Augustina Nkechi. All former documents remains valid. Ebonyi State University Abakaliki and public note.

I formerly known and addressed as John Chibuzor Kenneth now wish to be known and addressed as Ani Onyedikachi.All former document remain valid.General public should please take note.

I formerly known and addressed as Miss Agboola Olufi sayo Titilayo,now wish to be known and addressed as Mrs Adoga Olufi sayo Titilayo.All former document remain valid. Ekiti State Hospital Management Board, Nursing and Midwifery council of Nigeria and general public take note.

I formerly known and addressed as Miss Alarapon Olayinka Dunni, now wish to be addressed as Mrs. Adetule Olayinka Dunni. All former documents remain valid , Federal University of Technology , Akure (FUTA) and general public take note.

I formerly known and addressed as Miss Ezenagu Ngozi Eunice Chioma now to addressed as Mrs.Onwutuebe Ngozi Eunice Chioma. All former documents remain valid, Afe Babalola University, Ado Ekiti (ABUAD) and general public take note.

BISIRIYU: Formerly known and addressed as Miss Bisiriyu Omolola Bosede, now wish to be known and addressed as Mrs Fayemi Omolola Bosede. All former documents remain valid. NYSC and General public should please take note.

OMORIGHE: Formerly known and addressed as Miss Omorighe Queen Philomina, now wish to be known and addressed as Mrs Donald Queen Philomina. All former documents remain valid. General public should please take note.

Formerly known and addressed as Miss Oladunni Sekinat Omolara now wish to be addressed and called as Mrs Omoniyi Sekinat Omolara. All fomer documents remain valid, general public should please take note.

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Formerly known and addressed as Aregbesola Olawunmi Monica, now wish to be known and addressed as Mrs. Aregbesola Olawunmi M. Popoola. All former documents remain valid. General public should please take note.

Formerly known and addressed as Pratt Temitope Janet, now wish to be known and addressed as Ademenn Temitope Janet. All former documents remain valid. General public should please take note.

Formerly known and addressed as Miss Balogun Adepeju Oluwabunmi, now wish to be known and addressed as Mrs. Ajayi Adepeju Oluwabunmi. All former documents remain valid. General public should please take note.

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Formerly known and addressed as Miss Ogaga Ejiro Abosede, now wish to be known and addressed as Mrs. Akinsiku Ejiro Abosede. All former documents remain valid. General public should please take note.

Formerly known and addressed as Miss Mokwenye Veronica Odiromiwe Unoma, now wish to be known and addressed as Mrs. Babafemi Veronica Unoma Odiromiwe. All former documents remain valid. NYSC, Mountain of Fire and Miracle Ministry and General public should please take note.

BUDE: Formerly known and addressed as Abu Abdullahi Bude now wish to be known and addressed as Abu Isaiah . All former document remains valid. Businessday Media Limited and general public should please take note.

Formerly known and addressed as Miss Oguche Catherine Victoria Omotewnule, now wish to be known and addressed as Mrs David Anthony Victory Itule. All former documents remain valid. General public take note

Formerly known and addressed as Miss Okonkwo Kenechi Chidimma, now wish to be known and addressed as Mrs. Egbosimba Kenechi Chidimma Esther. All former documents remain valid.

ALIMI: Formerly known and addressed as Alimi Nimota Abebi, now wish to be known and addressed as Lasisi Nimota Abebi. All former documents remain valid. General public should please take note.

Formerly known and addressed as Olatidoye Kehinde Funmilola, now wish to be known and addressed as Mrs. Hammed Kehinde Funmilola. All former documents remain valid. General public should please take note.

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Formerly known and addressed as Fatolu Arnold Abdulkabir, now wish to be known and addressed as Sulaiman Arnold Abdulkabir. All former documents remain valid. General public should please take note.

Formerly known as Fatoba Olaitan Olubunmi, now wish to be known and addressed as Ikotun Olaitan Olubunmi. All Documents and certifi cates bearing my former names remain valid. General public should please take note

Formerly known as Mr Abiodun Lawson Ajediti and Mrs Lolo Linda Ajediti now wish to be known and addressed as Mr John-George Eniola, Abraham-Jefferson and Mrs Lolo Deborah Abraham-Jefferson. All Documents and certificates bearing our former names remain valid. General public should please take note.

Formerly known and addressed as Miss Sonaike Modupeola Florence, now wish to be known and addressed as Mrs Ahmad - Tijanny Modupeola Florence. All former documents remain valid.General public take note

Formerly known and addressed as Miss Quadri Abolanle Rukayat, now wish to be known and addressed as Mrs Oluwakayode Abolanle Rukayat. All former documents remain valid. Ogun State Ministry of Works and Infrastructures.General public take note

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OBANANYA: I, formerly known and addressed as Miss Obananya Irene Ndidi, now wish to be known and addressed as Mrs. Obananya- Joseph Irene Ndidi. All former documents remain valid. NYSC and the general public should please take note.

OLEMEFOROUGA: I, formerly known and addressed as Miss Olemeforouga Ogochukwu Agatha, now wish to be known and addressed as Mrs. Nnamani Ogochukwu Agatha. All former documents remain valid. NYSC and the general public should please take note.

ROBERT: I, formerly known and addressed as Robert James, now wish to be known and addressed as Efevwiare Onajite. All former documents remain valid. First bank and the general public should please take note.

This is to confirm that Saliu Sodiq Omeiza is the same person as Salihu Sadiq now wish to be known and addressed as Salihu Sadiq. All former documents remain valid. First Bank Plc and genera public should please take note.

I, Ajegoriogbon Oladosu was wrongly registered as Ajegoriogbon Oladosu Josh for NECO, June/July, 2010 and also wrongly registered as Ajegoriogbon Oladosu J. for WAEC, May/ June, 2011. The two results remain valid. Henceforth, I want to be known and addressed as Ajegoriogbon Oladosu. Ospoly management, general public should take note.

This is to confi rm and certify that Mr. Uzochukwu Anthony Nkem is one and same person as Aniobi Anthony Uzochukwu Nkem. All former documents remain valid. The general public should please take note.

OLAWALE: Formerly known and addressed as Miss Olawale Kuburat Adetola, now wish to be called and addressed as Mrs. Babalola Kuburat Adetola Olawale. All former documents remain valid. General Public please take note.

CHANGE OF NAME I formerly known and addressed as Awolola Sherifat Yemi, now wish to be known and addressed as Amuzat Sherifat Yemi. All former Documents remain valid. The general public should please take note.

CHANGE OF NAME CONFIRMATION OF NAMEFormerly known and addressed as Okonye Benedicta Ifunayan, now wish to be known and addressed as Mrs Onyemaobi Benedicta Ifunayan. All former documents remain valid. General public please take note.

This is to confi rm that my name was wrongly spelt as Arilesere Abdulsatar Olajide in place of Arilesere Abdulsatar Jide on my GTB bank account. I am now stating categorically that my correct name is Arilesere Abdulsatar Jide. General public and Authorities Concerned should take note.

PATRICIA SUKORE FOUNDATION FOR WOMEN AND CHILDREN

Noti ce is hereby given to the general public that the above named foundati on has applied for registrati on with the Corporate Aff airs Commission under Part ‘C’ of the Companies and Allied Matt ers Act 1990.

1. Women Empowerment for the purpose of sustainability 2. Awareness and campaigns against gender based violence3. Legal support for women & children who are victi ms of violence

1. Patricia Omonzele Sukore 2. Victoria C. Igwesi3. Chika Justi na Eneanya (Nee Okeke)

Any objecti on to the registrati on should be forwarded to the Registrar-General, Corporate Aff airs Commission, Plot 420 Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this

publicati on.

THE TRUSTEES ARE:

AIMS AND OBJECTIVES ARE:

PUBLIC NOTICE

SIGNED: PATRICIA O. SUKORE; FOUNDER AND CHAIRMAN

ISE-OLUWA IGEABUJA

Immediate past gover-nor of Benue State, Dr. Gabriel Suswam yes-

terday described as ficti-tious and laughable the reports suggesting that he was arrested in London for allegedly beating his wife, Yemisi.

Suswan, who said he had been in Germany since he left Nigeria on vacation claimed the re-ports was the handiwork of politicians in the state, bent on tarnishing his reputation.

He urged Nigerians to disregard propaganda against him by those, who, he said have sworn to stop at nothing to be-little what he achieved in Benue state despite the monumental problems which his administration inherited when he came on board in 2007.

In a statement person-ally signed by him, Sus-wam cautioned that there should be a limit to false-hood.

According to the report

in an online medium, the former governor was pur-portedly arrested by the Metropolitan Police Do-mestic Violence Officers for battering his wife.

He was booked into the London detention centre for several hours before an unidentified judge set a £5000 bail bound which he met before being re-leased.

But describing the re-port as fictitious, Suswam denied ever going to Lon-don, saying he had been in Germany with his wife on vacation, even as he challenged authors of the report to name the street and address of his said house in London.

He added that the re-port was an indication that his traducers had decided to carry “defama-tion and slander almost too far in their latest cock and bull stories.”

On the claim that his wife’s trauma was as a result of the overbearing influence of her mistress, one Shidoo, Suswam said the imaginary mistress “exists only in the figment

of the writers’ imagina-tion.”

He added that, while he had always considered himself most fulfilled among men when it comes to matrimonial life, his wife, “Yemisi is not only a quintessence of physical beauty, as they themselves would helplessly admit, she is a capsule portrait of feminine perfection.

So, what else would a man desire for himself as an ideal woman to warrant any thought of a second wife?”

The former governor also refuted another re-port alleging that his wife and her associates drove in two large trucks to the Benue State Liaison Of-fice in Abuja, with the intent to cart away all the

expensive furnishings.In the, Suswam said it

was still the recent series of unsubstantiated ‘Tales by Moonlight’ designed to portray the former First Lady as descending into such a low.

He also cited another report which he said was “sponsored by the same faceless clowns who have made the business of pull-

ing me down their past time, that before I departed from Benue Government House, there was looting of items, including utensils.”

The former governor described the report about Yemisi’s involved in cart-ing away items like bed-sheets, amplified by their paid agents in other fora “as absolutely absurd and irresponsible journalism.”

Suswam denies beating wife

Arewa Consultative Forum, ACF, has expressed concern

about the recent attacks by Boko Haram on Mon-guno, Kukawa and Mai-duguri in Borno State, in which many people died.

A statement on yester-day in Kaduna by Muham-mad Ibrahim, the National Publicity Secretary of the

group, described the at-tacks and killings by the insurgent group as worri-some.

“ACF is worried and, indeed, Nigerians are wor-ried and disturbed with the recent and frequent attacks on villages and even states capital of Borno and Yobe by the Boko Haram insur-gents.

“The renewed direct

attack on the people in Monguno, Kukawa, Maidu-guri and many villages in Borno, Yobe and Adamawa states is cruel, barbaric and condemnable especially in the holy month of Rama-dan.

“This clearly shows that the Boko Haram insurgents are cults in form, charac-ter and operation as their claim to be Muslims is un-

tenable.“Islam enjoined Mus-

lims not to fight during the month of Ramadan no mat-ter the provocation, talk less of attacking and killing innocent people for no just cause,” it said

ACF said that the activi-ties of the insurgents posed a serious challenge to the military and other security agencies.

ACF expresses concern about attacks by insurgents

–SPANISH TENNIS STAR, RAFAEL NADAL

My career is far from over. I can only now look forward to the US Open in September

National Mirrorwww.nationalmirroronline.net 53Monday, July 6, 2015

55

NSC unpacks AAG plans

NFF goofs in Keshi’s sack

AfolAbi GAmbAri

The Nigeria Football Federation (NFF) may have committed profes-sional error in what appeared to

be a hurried sack of Super Eagles coach, Stephen Keshi whose contract termina-tion was announced by the federation late on Saturday.

Matters worsened between Keshi and his employers a fortnight ago after it was revealed that the gaffer had applied for the vacant coaching job in Cote d’Ivoire after the sudden departure of former El-ephants coach Herve Renard last month.

A member of the NFF Executive Com-mittee and Head of the Ethics and Dis-ciplinary Committee of the federation, Barrister Christopher Green, had said the body would launch investigation into the job application upon which a com-

mensurate punitive measure would be meted to Keshi if the committee found that he had breached his contract terms.

A report last weekend, however, re-vealed that the NFF had received the findings and it was hinted that the board could take a decision this week.

“I wish to assure that we would not rush to taking any decision as we would exhaust all facts at our disposal,” an un-named “top official” of the football body stated in the report.

Curiously, however, the statement signed by NF’s 1st Vice President, Barris-ter Seyi Akinwunmi, which announced Keshi’s sack late on Saturday, said the findings, in addition to “Keshi’s actions and inactions”, had been “thoroughly re-viewed” before the decision was taken.

Green also justified the sacking on what he called Keshi’s lack of commit-ment and professionalism in an inter-

view reported in a sports daily yesterday. “He (Keshi) also breached the contract

he signed by ‘sneaking’ in a player, Ga-briel Okechukwu, into the Super Eagles camp when he (the players) was not in the original list of invited players (for the Nations Cup 2017 qualifier against Chad in Kaduna on June 13,” Green said, although he was silent on who paid the “illegal” player’s accommodation bills at the Eagles’ Hotel camp prior to the match.

Meanwhile, the NFF says the Eagles will be overseen “in the interim” by Kes-hi’s assistant, Salisu Yusuf, who would be supervised by former Eagles coach, Shaibu Amodu, and lately appointed as Head of the federation’s Technical De-partment, a development that observers say could lead to Amodu’s return as the national team’s substantive handler after his sack in 2010.

Flying Eagles cap-tain, Musa Moham-med, yesterday

said the reception he got at Turkish club Istanbul Basaksehir FK was over-whelming.

Thousands of fans decked in the club’s bright orange colours and chant-ing songs staged a special

party to welcome the de-fender into the club as he and joined in the ceremo-ny where he was carried shoulder high by the jubi-lant fans.

Musa, who proved solid in his first full training with the club, later signed hundreds of autographs.

“I just could not believe

how the fans welcomed me as they made me feel really wanted,” Mohammed said.

“It was incredible and I have never experienced anything like this in my life.

“I want them to keep giving me and the rest of the team such support, which can only make us to

do more for the club.”The right fullback, who

will join the rest of the squad in Holland tomor-row for pre-season train-ing, signed a three-year contract with the Turkish Super League club which will feature in the UEFA Europa League in the com-ing season.

Mohammed ‘overwhelmed’ Basaksehir welcome

KeshiEagles’ job:

Mohammed

Sport

54 Sports National Mirror www.nationalmirroronline.netMonday, July 6, 2015

wobbles top 4th round

Murray

British star, Andy Murray, yesterday overcame a mid-match wobble at Wimbledon

to defeat Andreas Seppi 6-2 6-2 1-6 6-1 in the third round.

Murray has looked in red-hot form last week as he looked to repeat his title-winning heroics from two years ago and he made a storming start against the Italian on Centre Court, claiming the first two sets.

Seppi had failed to win a single set during six consecutive losses to Murray in their previous meetings but there was a sudden shift in mo-mentum at the start of the third set, which coincided with the Italian calling a medical time out.

After receiving treatment for a leg injury at 2-1, Seppi emerged un-hindered and completely unrecog-nisable as a Murray second serve flew out and gave away the break.

Murray also appeared hampered by a problem with his right shoul-der and it was his turn to call for the trainer after he lost his serve in the opening game of the fourth set with a major upset appearing on the cards.

However, the medical time out worked wonders for Murray this time as he returned to court to break back immediately before rat-tling off the next five games to seal a dramatic victory.

New LA Galaxy signing, Steven Gerrard, says he is itching to get started at his new MLS club following his official presenta-

tion on Saturday.The former Liverpool legend was unveiled as

Galaxy’s new player at half-time of his side’s 4-0 League victory against Toronto FC in front of a ca-pacity home crowd.

“I just wish I could play tonight. The first game can’t come quick enough,” the 35-year-old said, adding, “I’m really looking forward to a successful future.”

Gerrard thanked his new teammates for helping him settle in at Galaxy.

“Already I’m starting to feel settled and I’m look-ing forward to playing with the guys,” he further said.

“We’ve already got a good team here, full of won-derful players. So if I can add a little bit to that, I think the future’s going to be good.”

The former England captain is expected to make his MLS debut in Galaxy’s California Clasico against San Jose Earthquakes on July 17, with his side third in the Western Conference of the MLS League, a point behind leader Seattle Sounders who have played two matches more.

Chile midfielder, Arturo Vidal, feels his country was a deserved winner in this year’s Copa America, insisting his country’s supporters needed the win.

A penalty shoot-out was needed to decide the winners fol-lowing a goalless 120 minutes between the hosts and oppo-nents Argentina, with Alexis Sanchez netting the winning spot kick as Chile won its first ever title in the 99-year history of the competition.

Vidal, following his off-the-field mis-demean- ours earlier in the tourna-m e n t , produced a man of the match display in the final.

“The Chilean p e o - ple needed a

w i n , some-

thing as beautiful a s being champions o f the Copa America i s what I think this

country needed,” t h e Juventus player said, stressing, “Now we w i l l fight to the maxi-m u m for the next World C u p after this amaz-i n g step.”

GalaxyGerrardswitch excites

Our people needed the trophy –Vidal

Copa America fallout:

Andy Murray

Gerrard

Vidal

Wimbledon Open 2015:

National Mirrorwww.nationalmirroronline.net 55SportsMonday, July 6, 2015

AAG 2015: NWF names Ekanem national coach

President of Weightlifting Federa-tion of Nigeria (NWF), Hon. Chibu-dom Nwuche, at the weekend in

Ibadan announced Ekanem Andrew Ekanem as the National Coach for the All African Games scheduled for Congo Braz-zaville in September.

Nwuche, who made the announcement during the final of the National Weightlift-ing Open Trials at Obafemi Awolowo Sta-dium organised to select athletes for the games, said Ekanem would work with four

other coaches yet to be named to prepare the weightlifters for the continental event.

According to the News Agency of Ni-geria (NAN), Ekanem is the weightlifting Chief Coach in the Akwa Ibom Sports Council.

“We have already opened camp for the weightlifters in Abuja as we want to ensure adequate preparation for them ahead of the Africa Games,” Nwuche, who is a former deputy speaker of the House of Representatives, disclosed.

Ekanem, who later spoke to journal-ists at the trials, also promised to prepare what he called a medal winning team for Nigeria.

“I am assuring the nation that all hands would be on deck to groom the ath-letes adequately for the games,” the coach said.

Ekanem, however, declined to predict his athletes’ medal haul in Congo.

Top weightlifter, Maryam Usman, is one of the country’s medal hopefuls.

Joel AJAyi ABUJA

Barely sixty days to the All Africa Games in Congo Brazzaville, the National Sports Commission

(NSC) yesterday said that about 31 hotel rooms have been secured for athletes and officials at locations in Brazzaville and Pointe Noire venues of the events.

The Games is returning to Congo 50 years after the country hosted the conti-nent.

Director General of the NSC, Mallam Alhassan Yakmut, who was part of the commission’s delegate that inspected the Congo facility, told National Mirror in Abuja that payments had already been made for the accommodation.

Nigeria has secured tickets to feature in football, basketball, volleyball and hand-ball.

“We are already getting prepared to en-sure our athletes produce sterling perfor-mance at the competition,” Yakmut said.

“We have again written to the govern-

ment to assist us with funds to enable us intensify and conclude our plans.

“For athletics, the athletes have been preparing since January in various parts of the country and have attended several international and local competitions.”

Yakmut, however, called on the sports journalist in Nigeria to support the prep-aration by monitoring activities of the sports associations ahead of the games.

“We need your cooperation more than ever to enable us to achieve the set targets in Congo,” the NSC boss added.

…NSC unpacks Games plans

NWPL: Queens coach aims ‘away points’

Champions Cup tourney on StarTimesNigeria’s weightlifting hopeful

Maryam Usman at the last Commonwealth Games

Coach of Nigeria Women Premier League club Confluence Queens FC of Lokoja, Suleiman Adamu,

is optimistic that his side can get points away from home after the Wada Queens were held 1-1 at home by Osun Babes on Saturday.

The Week 4 encounter saw a 13th min-ute goal from Precious Edowor put the visitors in front.

Queens leveled score when Mariam Aluko’s converted spot kick was bril-liantly converted, after which the hom-ers failed to bury several scoring chances against the Babes who have remained un-beaten.

Adamu, who spoke through the Queens’ spokesperson, Tosin Ojo, lamented the dropped points, insisting however that his side could make it up on away grounds.

“All we need right now is work hard and correct on our deficiencies,” the gaffer, also called Zico, said.

Ngozi emedolibe

StarTimes is set to screen the pres-tigious International Champions Cup live on its digital terrestrial

and digital satellite platforms to connect its subscribers with thrills and excite-ment, in its renewed bid to boost sports content.

The 2015 International Champions Cup North America which will be played be-tween July 11 and August 5will feature the best clubs in the world competing across 12 regions in Canada, Mexico, England, Italy and the United States.

Manchester United will face Spanish giant, Barcelona, at Levi’s Stadium while English Premier League champion, Chel-sea will also face current Spanish League leader, Barcelona at FedEx Field in Wash-ington D.C. in the tourney that will see three quarter finalists in the UEFA Cham-pions League participating.

Ten teams will compete in this year’s Champions Cup. They are Manchester United, Chelsea, Porto, PSG, Club Ameri-ca, Barcelona, Fiorentina, San Jose Earth-quakes, Los Angeles Galaxy and New York Red Bulls.

“We are very excited to have exclu-sive rights to broadcast the International Champions Cup 2015,” Director of Sports at StarTimes, Gary Rathbone, said.

“Football is Africa’s favourite sport and this tournament will certainly be enjoyed by all our subscribers on StarTimes Sport 2 (ST2), StarTimes Sports Premium and other StarTimes sport channels,” Rath-bone added.

StarTimes, a leading digital TV opera-tor in Africa, covers 80 per cent of the con-tinent’s population with a massive distri-bution network of 200 brand halls, 3, 000 convenience stores and 5, 000 distributors with a vision to “enable every African family to afford and enjoy digital TV”.

Vol. 05 No. 1149 Monday, July 6, 2015

w

Former Arsenal goalkeeper, Jens Lehmann, says fel-

low German Mesut Ozil needs to prove himself in big games for the London club.

Ozil has struggled to match expectations in Ar-senal since his 50million signing from Real Madrid two seasons ago.

However, the Turkish-born World Cup 2014 win-

ner showed signs of his ability with five goals and nine assists for the FA Cup champion last sea-son.

“Everyone knows Me-sut can be a fantastic

player. But he also needs to be a fantastic player in the big games,” Lehmann said yesterday.

“He doesn’t need to be a fantastic player in the small games and me-

diocre player in the big games.

“He can definitely do that but now he must prove it. He needs to know how to think and how to programme himself.

‘How Ozil can become a great Gunner’Sport Extra

Fastest mile fi reman’s carry

N150

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WORLD RECORD

Ozil

First timekeeping device

First used in Mesopotamia in c . 3500 BC, the t ime st ick – a primitive for m of sundial – was the f irst “clock” ever developed

by Man.

[email protected]

HeartBeatCallistus Oke

[email protected] 08054103275 (SMS ONLY)

PRESIDENT BUHARI WILL FIND IT HARD TO MARKET THIS IDEA OF PROBE TO NIGERIANS

NNPC probe: Right mission, wrong executorsThe ruling All Progressives Congress

(APC), a political party formed two years to the last general elections,

fundamentally altered the substance and style of politicking in Nigeria by using the change concept in a most seductive man-ner to woo the electorate. That Nigerians keyed into the change vision is seen in the victory of Alhaji Muhammadu Buhari, the party’s standard bearer, in the last March 28 presidential election.

The political battle significantly de-termined by change has come and gone; the next challenge is management of the change component of Buhari’s social contract with Nigerians. ‘Change’ is not an esoteric concept; it can only be given form and substance by the positive or negative results of APC’s policies and pro-grammes. To me, translating change into concrete actions and values is the acidic

test of APC’s socioeconomic and political relevance in its promised New Nigerian.

However, if truth must be told, the APC government started on a wobbling note when its legislative arm in the National Assembly skidded off the change path to find accommodation in the highly discredited continuity path trodden by the opposition PDP. The simmering crisis in the National Assembly is an unfortunate distraction for the new Federal Govern-ment; it has cast a pall of doubts on Nige-rians, doubts about the sincerity of the promised New Deal and doubts about the existence of a unity of purpose among the party’s apparatchiks in both the executive and legislative arms of government. It will take awhile of serious and positive actions by President Buhari before Nigerians could overlook the hedonistic indiscre-tion of the APC federal legislators in the National Assembly.

It appears the waiting period will take a longer time than expected. This is the con-text I situate the constitution last Monday of a four member investigation panel by the National Economic Council to probe the Nigerian National Petroleum Corpora-tion (NNPC). There is no reiterating the fact that a probe of the NNPC has become a political imperative for Buhari. It is common knowledge that the NNPC has become a Leviathan, thus too unwieldy for optimal efficiency. And popular imagina-tion is that the corporation has become a dysfunctional institution by the fact that

with its awesome financial strength it has acquired the capacity to undermine even the Nigerian state. That capacity has been manifestly deployed at various times with devastating consequences.

Let me jolt your memory with the most recent whiff of sleaze associated with this economic dinosaur, but detrimental to our collective interest. Between 2007 and 2009, according to the global audit firm, KPMG, the NNPC over-billed the Federal Government by N28.5 billion in subsidy deductions; Finance Ministry disclosed in September 2007 that the corporation failed to remit $5.2 billion to the Federa-tion Account, and in 2013, Erklarung von Bern, a Swiss NGO, alleged that $6.8 billion of crude revenues was siphoned. You remember the Alhaji Sanusi Lamido Sanusi whistle blowing as the governor of CBN on missing $20 billion oil money. Add all these to the confirmation of the outstanding of N4.42 billion, N3.71 billion, and $1.7 billion in over-recoveries from marketers and use of expired memoran-dum of understanding with joint venture partners for the three years respectively in the Nigerian Extractive Industries Trans-parency Initiative (NEITI) report covering

the period 2009-11. And last Monday, the echoes of the

NNPC’s mastery of serial sleaze were con-firmed by the National Economic Council after receiving reports from the officials of the corporation and office of Accoun-tant General of the Federation. Briefly put, earnings for the period 2012 to May 2015 were put at N8.1 trillion out of which N4.5 trillion was paid into the Federation Account, while NNPC admitted retaining N3.8 trillion for its operations.

It is left to the imagination of discerning Nigerians how N3.8 trillion was spent by the corporation. Edo State governor, Com-rade Adams Oshiomhole’s position on the unwholesome situation (my conclusion) might have captured your imagination: “The major revelation here is that…NNPC alone took and spent N3.8 trillion…Which means the cost of running NNPC is much more than the cost of running the Federal Government. That tells you how much is missing, what is mismanaged, what is stolen; these are huge figures.”

I believe the basis for the probe of NNPC has been well established. What I find curious is the strategic enforcement framework developed to carry out the probe-NNPC-mission. President Buhari appears to have conceded to the Council the prerogative to probe the corporation. This is patently abdication of responsibil-ity. The set up, where two governors each from the ruling APC and opposition PDP, no matter how well qualified they are for the job, are given such responsibility, will lead to a dead end.

The mindsets of some of the mission’s executors are already formed, thus the basis for accusation of bias is established. President Buhari will find it hard to market this idea of probe to Nigerians. Me-thinks he should have waited for the con-stitution of the Federal Executive Council for input into how the probe should be executed. This job is too serious for NEC to handle! What will happen to governance in the four states in the next one month?