NNPC Invites Process Licensors to Audit Re Neries

NNPC Invites Process Licensors to Audit Re neries Targets 60 per cent capacity utilisation Chineme Okafor in Abuja to undertake process audits products into the country General Manager, Public courtesy call on him by the ending petroleum products on its four re neries in Port would reduce and the capacity Affairs of the corporation, management of Media Trust importation in a few years The Nigerian National Harcourt, Warri and Kaduna. utilisation of the re neries Ndu Ughamadu, in Abuja Limited, publishers of Daily and that a concrete plan was Petroleum Corporation It said that when the increased to 60 per cent by stated that its Group Managing Trust Newspapers. on the ground to achieve this. (NNPC) said yesterday that it process audit is concluded, the end of 2017. Director, Dr Maikanti Baru, Baru explained that would invite external licensors its importation of petroleum A statement by the Group disclosed this during a the NNPC was keen on Continued on page

MTN Kicks As Court Orders Another Forfeiture of Nbn to FG... Page

Monday January, Vol . No . Price: N

www.thisdaylive.com T RU N TH & REASO Presidency: How We Selected Beneﬁ ciaries of N5000 Stipend to Poorest Nigerians Tobi Soniyi in Abuja

The Presidency yesterday said that it used the World Bank’s Community Based Targeting (CBT) model, established two years ago, to select the bene ciaries of its N5000 monthly stipends to the poorest Nigerians. The Senior Special Assistant to the Vice President on Media and Publicity, Mr Laolu Akande, in a statement in Abuja said the CBT model of the World Bank had been used two years ago to identify BRASS FERTILIZER COMPANY MAKING STRIDES most of the bene ciaries in Seated L-R: Chief Ben Okoye, Executive Vice Chairman, Brass Fertilizer & Petrochemical Company (BFPCL) and Mr. John Goodridge, Head of Marketing & the pilot states. Origination Europe, Africa & Russia, BP Oil International. Standing L-R: Gareth Hodder of White & Case LLP; Sanjay Patel of BFPCL; Mychael Obaseki, BP He said the World Bank was also an active agent Nigeria; Tom Fox, BP London; Abhishank Jajur, Taylor-Dejongh; Rema Shrestha and Alex Moulsdale, both of BP London, at the oﬃ cial signing of the billion methanol oﬀ take agreement between BFPCL and BP Oil International, held in London… recently Continued on page Buhari Pledges to Recover More Abducted Chibok Girls Tobi Soniyi in Abuja and The president gave the country, nay, the world, today release of the youngsters will yet re-join their families will still return as soon as Victor Ogunjein in Ado Ekiti assurance in a statement commemorates the 1,000th day kidnapped by Boko Haram and loved ones. Three of them practicable," he quoted the yesterday in Abuja by his of the abduction of schoolgirls insurgents." have been recovered by our president as saying. As the kidnapped Chibok Special Adviser on Media and from Government Secondary "We are grateful to God diligent military, while the Adesina said Buhari Secondary School girls Publicity, Mr Femi Adesina, School, Chibok, Borno State, that on this landmark day, freedom of 21 others was reiterated his pledge, spend 1000 days in captivity, to commemorate the 1000th President Muhammadu Buhari we are not completely in the secured through engagement pronounced many times in President Muhammadu Buhari day of the girls’ abduction. has recommitted the Federal depths of despair, but buoyed with their captors. We are the past, that government has given further assurance Adesina said: "As the Government to securing the with hope that our daughters hopeful that many more would not spare any efforts that the federal government to reunite the girls with their will spare no efforts to recover those still in captivity. Ex-Niger State Governor, Kure, Dies.. Page Continued on page MONDAY JANUARY , THISDAY THISDAY MONDAY JANUARY , MONDAY JANUARY , THISDAY THISDAY MONDAY JANUARY , MONDAY JANUARY , THISDAY

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RC 103022 THISDAY MONDAY JANUARY , MONDAY, JANUARY 9, 2017 • THISDAY PAGE EIGHT Fulani Herdsmen Invade Adamawa Community, Kill 3 Policemen, 2 others Daji Sani in Yola were preparing to go to bed. development to journalists and by the special grace of occurred less than 24-hours sent delegations on Wednesday, The eyewitness said that the in Yola, said that four ries God we are going to recover after a government delegation Thursday, Friday and Saturday Suspected Fulani Herdsmen herdsmen and the policemen belonging to the policemen our men. On the side of the on peace building mission to interface with the different have invaded Kwayine manning the area had a dual were also missing. civilians, two bodies have so visited the area. communities in the area, a Community in Demsa gun-battle for several hours The dead policemen, he said, far been recovered.” The governor in a statement clash could occur so soon Local Government Area of before they overpowered were among those drafted to The police spokesman said by the Commissioner of thereafter,” he said. Adamawa State, killing ve the police and entered the secure Kwayine, Gidan Dadi the police killed scores of the Information and Strategy, He assured residents of persons, including three mobile community, burning it down. and Karlahi communities after militia, explaining, however Mallam Ahmad Sajoh, directed government’s resolve to policemen and two civilians. Con rming the incident, the clashes that followed the killing that the survivors escaped with security agencies to deploy restore peace to the affected Several people were wounded, Police Command in the state on of 47 cattle in the area. their dead colleagues. more personnel in the area. areas and protect the lives of while the community was Sunday con rmed the killing of “Fulani militia attacked the Othman said more policemen He described the attack as every citizen. completely burnt down. three mobile policemen and the three villages and we lost three had been drafted to the affected unfortunate and sad especially Bindow saluted the gallantry An eyewitness reported disappearance of two others. of our gallant MOPOL while areas. coming after the recent peace of the police in confronting that the suspected herdsmen The command’s Public two are missing,” Othman said, The state Governor, and con dence building efforts. the attackers and urged them invaded the community on Relations Of cer, SP Othman adding: “We have constituted Alhaji Mohammed Bindow, “The Governor feels highly not to relent until normalcy Saturday night when the locals Abubakar, who con rmed the a high powered search team condemned the attack, which disturbed that after he had is fully restored.

PRESIDENCY: HOW WE SELECTED BENEFICIARIES OF N STIPEND TO POOREST NIGERIANS in the selection process, as partisan. The president is the CBT team. Then we (men, women and youths) to identify the households in informed that payments explaining, however, that president of the entire country train the selected of cials on in the conversation around the community that had been must be at community level, the data collected belonged and the Social Intervention how to conduct focus group the criteria and parameters identi ed as tting the criteria so those banks engaged for to Nigeria. Programmes are for all discussions at community level. for determining the poorest and parameters. the pilot stage had in turn Akande gave the names of Nigerians as the case may be.” These focus groups comprise people. "Once that is done at the engaged several payment the nine pilot states where In addition to the nine pilot of women, men, youths, as He explained further that groups, everybody comes agents, to ensure cash-out the programme had started States, and with the release the community determines. the groups would then be together again with names to the bene ciaries in their as Bauchi, Borno, Cross Rivers, of funds for the programmes, "After training them, the encouraged to identify those compiled by each group. places of residence. Ekiti, Kwara, Kogi, Niger, Osun the CBT model has now CBT teams now go to each households that fell within the Now, when the same name and Oyo and clari ed that commenced in other states. of their communities to criteria that the community is featured in at least two of reference to Ogun, instead of He said: "There is no way sensitize the leaders, including itself determined, and told the three groups, it is deemed NNPC INVITES Osun-among the pilot states- in anyone can describe the traditional rulers, on the CBT that the information was quali ed to be listed on the PROCESS LICENSORS his last press statement on the selection of the bene ciaries process and the necessity for required for government's Social Register," he added. issue was an error. of the Conditional Cash objectivity and openness in planning purposes. He said that at that stage, TO AUDIT REFINERIES He explained that in eight Transfer (CCT) as partisan the process. At that meeting, He said various poverty bank accounts were opened "We are putting together of the nine pilot states, the as the bene ciaries from they rm up a date to convene criteria had been thrown up for each of the caregivers by various programmes to ensure selection process had taken eight of the nine pilot states a community meeting at a so far, explaining that in some capturing the biometric data that we achieve at least 60 place at least two years ago were picked even before this designated location within cases, people had said it was of households identi ed as per cent local re ning by under a programme supported administration came into of ce. the community. the number of times they ate, among the poorest and the end of this year. It is the by the World Bank in an “First, the of cials at federal "On the set date, discussions the number of times the fumes vulnerable. procedure or methodology that agreement entered into directly level, working with the state are held in the local languages, of rewood went up from the He said states had been we are changing a little bit, we with the state governments. of cials, identify the poorest using terminologies that house, the size of farmland updated on the requirements are focusing on the process He said the ninth state, Local Government Areas, resonate in that community. or type of crops grown. for the engagement by the licensors to come and audit Borno, was added because of using an existing poverty The CBT team will explain to After the discussions, federal team, adding that our processes and they have the situation of the Internally map for the state, then the the community the purpose of Akande said the groups once the lists from sates were already started auditing most Displaced Persons (IDPs). LG of cials identify the poorest the gathering, i.e. to determine would resume in plenary and enumerated, their details were of our process units in the According to him, communities in the LGAs and the parameters of poverty report back the criteria and uploaded onto a server at the various re neries," said Baru. the process of selecting we send our teams there. upon which persons can parameters discussed. Nigeria Inter-Bank Settlement He further explained: bene ciaries is fair and "The rst thing our team be described as poor and The CBT team, according to System, NIBSS, which hosts "We hope if we do all these transparent and without does after selection of the vulnerable within the context him, would then compile the the electronic platform that systematically, we should be mischief. LGAs is to select members of that community." criteria and parameters and ask validates all the payments of able to get about 60 per cent He said: "There is no way of the NOA, the LGA and He said the CBT teams each group to return to their the FG for the SIPs. level of capacity utilisation by you can describe this process community of cials to form would then engage each group break-out sessions and begin He said banks had been the end of this year or at worst by the rst quarter of 2018 and get to 80 per cent by the BUHARI PLEDGES TO RECOVER MORE ABDUCTED CHIBOK GIRLS end of 2018 so that we could families. has said the real story about with Nigerians. Failure the federal government locally be able to supply half "I salute the fortitude of the abduction of the Chibok "If indeed Boko Haram of contradicting itself by of our PMS requirements. the distraught parents. As a girls has not yet been told, was already defeated, where Also commemorating the its recent declaration and "Also, with other efforts parent also, I identify with insisting that the truth about are those suicide bombings 1000th day of the abduction, celebration of the capture of in terms of other re neries their plight. Days turned the incidence would be known and attacks coming from?" the leader of the Bring Back Sambisa forest as the end of coming in place, we should to weeks, weeks turned to one day. he asked, adding: "Nigerians Our Girls (BBOG) movement, the war on terror. be able to quit importation months, months turned to In a statement by his are faced with many wars Dr. Oby Ezekwesili, described According to her: “This in a few years." years, and today, it is 1,000 Special Assistant on Public now, Boko Haram is just one the failure of the federal action is contrary to the He urged the media to help days. The tears never dry, the Communications, Mr. Lere of them and it is worrisome government to rescue the pledge that Mr President in enlightening the public ache is in our hearts. But hope Olayinka, the governor said that we are not being told remaining 195 Chibok girls and the military have made on the dangers of pipeline remains constant, eternal, and the federal government needed the truth about anything," after 1,000 days in captivity repeatedly that they would vandalism, which he said we believe our pains will be to tell Nigerians why the 21 he stated. as monumental. not declare victory without had become a drain on the assuaged. Our hopes will not rescued Chibok girls were yet According to him: "It is like She spoke while addressing the rescue of our Chibok Girls nation’s economy. be shattered, and our hearts to return to their families since a patient telling his doctor members of the BBOG and all other abducted victims will leap for joy, as more they were released by the that nothing is wrong with movement in Abuja and said of terrorist abduction. and more of our daughters insurgents in October last year. him. How will such patient the inability of the federal “Sambisa’s ‘Camp Zero’ is return. It is a goal we remain "Have you ever seen anyone be treated?" government to rescue the the same stronghold in which steadfastly committed to," the that will be in captivity for that He said it was ridiculous remaining girls was the the Federal Government stated president said. long and won't be eager to that the federal government saddest occurrence in the that the girls were being held TOP GAINERS NGN NGN Buhari commended all reunite with his or her family was celebrating the recovery nation’s history. and the 21 released were those who had been in the two months after regaining of what they called Boko Ezekwesili said: “We never from there. Should parents, UPDC . . . vanguard for the recovery of freedom?” he queried, adding: Haram ag as a sign of defeat imagined that it will last more communities, Nigerians and UNITEDCAPITAL . . . the girls, both nationally and "If the girls are truly Chibok of the insurgents while more than 30 days, then 60 days the world assume that the OANDO . . . internationally. "Someday soon, girls, their freedom must daring attacks were being came, then two years. We Federal Government has given ETERNA . . . have had two governments we will all rejoice together,” he be total. They must also be made by the insurgents up on the Chibok Girls and ACCESSBANK . . . said, adding: “Our intelligence allowed to tell their own against the army, killing and yet we have girls who other abductees? and security forces are stories.” the nation’s gallant soldiers. want to be educated still in “As with the Jonathan TOP LOSERS NGN NGN unrelenting, and whatever Commiserating with "The reality is that the grip of terrorists and on administration, the Buhari CADBURY . . . it takes, we remain resolute. families of the army captain insecurity has increased in Day 500 we had our on our administration’s response MOBIL . . . global week of action and we Chibok community, Nigeria, and ve other soldiers Nigeria more than President to issues about the Chibok N.E.M INSURANCE . . . and, indeed, the world, will reportedly killed by Boko Muhammadu Buhari met it. did say that 500 days was girls is representative of its yet rise in brotherhood, to Haram insurgents during an Herdsmen have even killed too long for citizens to wait, handling of other issues – UNIONBANK . . . welcome our remaining girls attack on the Nigeria Army more Nigerians than Boko for parents to wait for their insecurity, welfare of internally NAHCO . . . back home. We trust God for Brigade in Buni Yadi, Yobe Haram in the last one year daughters to be rescued. displaced persons, military HPE Nestle Nig Plc N. that eventuality." State, Fayose doubted the while hundreds have died “Today, it is 500 times two. welfare, corruption and poor federal government’s claim through extrajudicial killings You can imagine how much governance. Volume: . million shares Real Story Yet to that Boko Haram had been by security agencies," the of a monumental failure it is “Painfully, #Day1000 of Value: N . billion be Told defeated and maintained that governor said. that 195 of our Chibok girls their tragic abduction is here Deals: , the war against the insurgents are still in terrorist captivity.” and there has been no status Meanwhile, the Ekiti State could only be won if federal FG is a Monumental A co-leader of the group, report provided by the federal As at Friday / / Governor, Mr Ayodele Fayose, government was transparent Ms. Aisha Yesufu, accused government.” See details on Page THISDAY MONDAY JANUARY ,

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MONDAY JANUARY , •T H I S DAY NEWS News Editor NEWS MTN Kicks as Court OrdersEmail [email protected], AnotherDavidson Iriekpen MTN Kicks as Court Orders Another Forfeiture of N8bn to FG Davidson Iriekpen of the sum of N8 billion allegedly Justice Abdulaziz Anka of the b e l o n g i n g t o M T N C o m m u n i c aproceeds t i o n s of unlawful activity, Federal High Court in Lagos hasLimited to the federal government. ordered the temporary forfeiture which are stashed in account government obtained the order, was The judge gave the order number 0012005379 domicile in that the sum, suspected to be marked FHC/L/CS/1676/2016of MTN Nigeria Communications Ecobank, be temporarily forfeitedand filed by an Abuja-based Forfeiture of Nbn to FG following an ex-parte application o p e r a t i n g a c c o u n t n u m b e r 0 0 1 2M 0 0a 5n 3a 7g 9 e r , B a n k i n g a n d T r e a s u r y i n t h e lawyer, John Opeyemi, on behalfthat of has a credit balance of N8 billion. New Ghanaian President to that effect filed before the courtAttorney- General of the Federation e m p l o y m e n t o f M T N c o m m u n i c a t i o n by the federal government. Maiturare also alleged that “froml i m i t e d , t h e a p p l i c a n t s d i d n o t c o m p l y (AGF), and an asset recovery agentthe totality of the credible information Plagiarises Ex-US Presidents Also affected by the order of the with the order of the court. of the federal government, Algaitaat our disposal, the applicants court is another account numberGroup Nigeria Limited. He specifically pointed out that 1013607079 containing billions of reasonably believe and satisfiedthe that order of the court directing the Akufo-Addo apologises In an affidavit sworn to by thethe funds in the possession of the naira domicile in Skye Bank Plc,Managing Director of Algaita Group applicant to publish the ex-parte whose ownership has not been two banks are unclaimed propertiesorder was not obeyed, therefore Justice Abdulaziz Anka of the Federal Allegations of plagiarism yesterday Limited, Abdullahi Mohammedor proceeds of unlawful activity challenged before the court. the respondent was not aware of trailed the inauguration speech Maiturare, he averred that the of stealing, diversion and money thing with a minor adjustment. Justice Anka further gave an the order of the court until, Ecobank of the new President of Ghana, “I ask you to be citizens. Citizens AGF appointed his company laundering of some public officials Chibok Girls Are Kept Silent order directing the publication asof ana asset recovery agent of the wrote a letter to the company to Nana Akufo-Addo. not spectators; citizens not subjects. and their cronies in the private intimatesector. it of the said order. He was accused of lifting parts notice in two national newspapersfederal government to track, freeze Responsible citizens building yourinviting any person(s) who might “Consequently if urgent steps Owa also averred that the subject of the speeches of United Statescommunities and our nation.” and recover funds and ensure itare is not taken to obtain certi ed have interest in the funds to, remitted to the designated bank account was opened by Ecobank Presidents, Bill Clinton and GeorgeIn the second, Clinton said: documents of the accounts and Nigeria upon instructions given W. Bush in his inaugural speech within 14 days of the publicationaccount of the federal government High Court in Lagos has ordered the “Though our challenges are of the order, show cause why a statements thereof as well as stopby MTN on October 9, 2007 and at the weekend. through legally permissible means fearsome, so are our strengths. final order should not be made o u t w a r d t r a n s a c t i o n s o n t h e a c cthat o u n MTN t s , has operated the account The Ghanaian president, as may be directed by the AGF. Americans have ever been a forfeiting the said funds to the the funds may be dissipated andsince the then till date in accordance with according to restless, questing, hopeful people. Maiturare, a former operativea c c o u n t d o c u m e n t a t i o n o r s t a t e m e n t s The Cable, has since federal government. banking practice applicable to apologised for the blunder. And we must bring to our task of the Economic and Financial may be tampered with,” he insisted. The judge also directed that theCrimes Commission (EFCC), current account held by corporate But how did he plagiarise thetoday the vision and will of those But in a preliminary objection,bodies in Nigeria. US presidents? order should be served on the also claimed that his company who came before us.” respective branch managers of MTN Communications Limited hasShe also claimed that the order In the first clip, Bush said: “I had credible information at its Akufo-Addo’s utterances werethe respondents banks and to stop urged the court to discharge andhas adversely affected the smooth temporary forfeiture ask you to be citizens. Citizens not disposal revealing that funds whichset aside the orders made against similar: “Though our challenges running of the business of MTN spectators; citizens not subjects. forthwith all outward paymentsare strongly believed to be federal are fearsome, so are our strengths.from the subject accounts and to it, as it relates to its account heldas it finds it difficult to utilise the Responsible citizens building a Ghanaians have ever been a government’s stolen, diverted andwith Ecobank Limited. immediately deliver to the courtlaundered are hidden in some coded funds held in the account in pursuit community of service and a nationrestless, questing, hopeful people. The telecommunications of its lawful business. of character.” the respective statements of accountaccounts in the two banks Ecobank And we must bring to our task with certificate of authentication company, in an af davit sworn She further maintained that the Akufo-Addo said the same and Skye bank. today the vision and will of thoseand other relevant documents as to by a legal practitioner, Mrs. funds are not suspected proceeds of who came before us.” He further maintained that Ibukunoluwa Owa on behalf of at the date and time of service ofcredible information at his disposal unlawful activity; therefore urge the of the sum of N billion allegedly the court order on them. the company and filed before thecourt to discharge the order. from reliable sources, indicatedcourt that by Adeniyi Adegbonmire The suit, in which the MTN’s application to discharge Gambia: Buhari Hosts there was an account maintained(SAN), at the deponent averred that E c o b a n k N i g e r i a L i m i t e d i n t h e n a m e the order was accompanied with from information delivered to affidavit of urgency and application ECOWAS Leaders in Abuja him by Babatunde Adewumi, theurging the court to hear the case urgently. belonging to MTN Communications Today Tobi Soniyi in Abuja undertake the first phase of the In furtherance of his mandate aspreparatory and support work that mediator, President Muhammaduwould lead to a high level meeting Buhari will today host four otherof the mediator (President Buhari) West African leaders to a meetingand the stakeholders. Limited to the federal government. in Abuja to avoid violence and Buhari was designated as the preserve democracy in The Gambia.mediator for The Gambia with A statement by the Senior SpecialMahama, the out-going President Assistant to the President on Mediaof Ghana as Co-Mediator at the and Publicity, Garba Shehu, just-concluded ECOWAS Summit said Buhari and the immediateheld on December 17, 2016 in past President of Ghana, John Abuja. Mahama as Mediator and Co- The summit also gave the terms Page Mediator respectively, had also of reference to include ensuring the been mandated by the Economicsafety of the President-elect, Adama Community of West African StatesBarrow, the political leaders and the (ECOWAS) to ensure the safetyentire of population; upholding the the President-elect, Adama Barrowresult of the presidential election and ensure a peaceful handoverheld on December 1, 2016 and of power on January 19. ensuring that the president-elect Shehu said the meeting in Abujais sworn into office on January was a follow up to the one held19, 2017, in conformity with the in Accra last Saturday on the THANKING GOD FOR constitution of the country. L-R: Senator Solomon Olamilekan Adeola; his wife, Temitope; Lagos State Governor, Mr. Akinwunmi Ambode; his wife, Bolanle; and sidelines of the inauguration of that The statement said Buhari country’s President which expressed the General Overseer, Redeemed Christian Church of God (RCCG) Worldwide, Pastor Enoch Adeboye; and his wife, Folu, at the annual remained optimistic that a peacefulthanksgiving service by the state government, at the Lagos House, Alausa, Ikeja....yesterday the readiness of the leaders of theresolution of the problem, in line sub-region to continue the pursuitwith the laws and the constitution of dialogue with the leaders of Theof The Gambia was possible before Gambia. the January 19, 2017 inaugurationEx-Niger Governor, Kure Dies “The Presidents of Liberia anddate of the new president. Senegal, the Vice President of Sierra-The incumbent president of The Leone and ex-President MahamaGambia, Yaya Jammeh, after losingState declares three-day mourning are expected at the meeting,” thethe election had congratulated the statement added. winner of the election, Barrow. Laleye Dipo Babangida, Dogara, Wike express shock In the discharge of hisT H Imandate S DAY He however, later turned in Minna as ECOWAS mediator for The • NAY, JANUARY , former governor, Alhaji Mahmud around to reject the results of Niger State was yesterday evening Gambia, Buhari had last week the election. Abdullahi, confirmed the incidentfoundation member of the Peoples activated the process for the thrown into mourning followingon the telephone to journalists. EDITORIAL He said he would challenge death of the third civilian governor Democratic Party (PDP) and becamesocio-political development of execution of his task. Abdullahi said arrangements the result at the Supreme Courtof of the state, Abdulkhadir Abdullahi governor of Niger State for twothe state and Nigeria as a whole. The president had instructed the were already being made by the The Gambia and that he would Kure. terms from1999 to 2007. “He has left an indelible mark Minister of Foreign Affairs, Geoffreyorganise a new presidential election. family to bring the remains of theAfter leaving office, he became Kure was said to have died informer governor to the country on the sand of times, may his soul Onyeama, to lead a Mediation The world has condemned a member of the Board of Trusteesrest in peace.” Support Team (MST), working Germany yesterday afternoon for burial. Jammeh’s decision and had called (BoT) of the party. Meanwhile, the state government Buhari’s Conditional Cash Transfer with the team of the Co-Mediator, where he was flown to three Born on February 26, 1956, on him to step down. Kure was a member of the weeks ago for medical attention.Kure is survived by wife, Senator has declared a three-day state- Mr. John Mahama, the out-going ECOWAS leaders had earlier Senator Ahmed Makarfi factionwide mourning, according to a President of Ghana. According to family sources, Zaynab Kure, six children, four travelled to the Gambia to pleadthe former governor was taken of the party. EDITORIALstatement by the Commissioner for boys and two girls. He was the The main task of the MST is towith JammehB UHARIto hand over but he A devastated state ChairmanInformation, of Culture and Tourism, to Germany for a kidney-relatedDirector of Engineering Services in turned down their request. ailment.’S C the PDP, Alhaji Tanko Beji, describedMr. Jonathan Vatsa. ONDITIONALthe Federal Capital Territory (FCT)the demise “as sad,” adding that The Chief Press Secretary to beforethe joining politics. He further stated that all flags “we cannot query God.” should be at half mast through out The late governor was a C In fulfilment of its campaign promise, It is a worthwhile project if wellBeji said implemented theASH late governor the state through out the mourning n fulfilment of its campaign promise, the TRANSFER contributed immensely to the period. administration of President Muhammadu Cont’d on page 51 Buhari has commenced the payment of N5,000 monthly stipends, targeted at supporting one million of the most vulnerable and poorest of the programme designed with the specific purpose the administration of President Nigerians under social investment scheme. Bank of enabling mothers to access healthcare to have their accounts have already been opened for all the babies, was ever met. beneficiaries in the pilot states and three banks To the extent that it is the responsibility of government have been enlisted to ensure that payments are effected to adopt strategies for meeting critical challenges, this Ito the beneficiaries within their communities and at no initiative is worthwhile if implemented faithfully. Because additional cost to them. of the prevailing poverty in many of our rural communi- While we commend the initiative, we hasten to point ties, in some of our urban slums and in the absence of Muhammadu Buhari has commenced out that the idea of conditional cash transfer has been what the government should ordinarily avail its citizens tried in the past under various schemes with unpleasant (as of right), such social interventions can make a whole tales after hundreds of billions of naira had been wasted. world of difference if implemented well. We also believe For instance, under the past administration of President that there cannot be a better team for its implementation Goodluck Jonathan, there was a programme called than the one being led by Mrs Maryam Uwais. SURE-P, which was a response to the public demand for judicious utilisation of the savings from the partial the payment of N, monthly et as lofty as this initiative is, as with everything removal of petrol subsidy at the time. At the end of the day, SURE-P did not make any impressive impact on the in Nigeria, we believe it could easily be hijacked life of Nigerians. by politicians in the ruling All Progressives Con- gress (APC) as was the case in the past, thus defeatingY its purpose. Under previous administrations, THE GOVERNMENT’S It is particularly the cash transfer process became a mere cash transfer EXPLICITLY STATED THISDAY noteworthy that the EDITOR JA NUU system to the private pockets of a select few. There was stipends, targeted at supporting OBJECTIVES THAT DEPUTY EDITORS AJ AY, J UA conditional cash ambiguity in the system of determining the conditions QUALIFICATION AND MANAGING DIRECTOR DEPUTY MANAGING DIRECTOR NA transfer component that should be met, while accountability was a grave SELECTION FOR ANY OF THE CHAIRMAN EDITORIAL BOARD AY A under the SURE-P EDITOR NATION’S CAPITAL UUN ANY challenge. It became essentially money to be shared for PROGRAMMES WILL NOT was the Midwifery YA UUARN political patronage. BE BASED ON PARTISAN, Service Scheme That the programme is being implemented in ETHNIC OR RELIGIOUS (MSS). It was conjunction with some development partners such as the one million of the most vulnerable AFFILIATIONS MUST BE designed to tackle World Bank, Department for International Development THISDAY NEWSPAPERS LIMITED STRICTLY ADHERED TO. maternal deaths in EDITORINCHIEF/CHAIRMAN (DFID), the Bill and Melinda Gates Foundation, African the country which GROUP EXECUTIVE DIRECTORS NUA ANA Development Bank and UNICEF gives it a measure of RA U, ANU NA N, , JA AY NUU A, lack of accessible, acceptable and areaffordable traceable primary, to credibility. But that is not enough. It is important that secondary and tertiary health care, lack of drugs, dearth GROUP FINANCE DIRECTOR DIVISIONAL DIRECTORS U ARA the federal government’s explicitly stated objectives that of skilled personnel, lack of access to skilled birth at- AYAN ANAA, R ANNY U, N A, DEPUTY DIVISIONAL DIRECTOR qualification and selection for any of the programmes tendants; lack of consumables, medical equipment, poor will not be based on partisan, ethnic or religious affilia- and poorest Nigerians under social SNR. ASSOCIATE DIRECTOR JUN R ANY referral linkages in our hospitals; poor transportation and ASSOCIATE DIRECTORS CONTROLLERS NRY NAR, R A J AY tions must be strictly adhered to. general lack of access to basic emergency obstetrical care. AA A, UNNA AU, NUA R All factors considered, we believe that this is There is nothing on ground to suggest that the objective GENERAL MANAGER AR U GROUP HEAD worthwhile initiative. If the necessary safeguards against UA ART DIRECTOR DIRECTOR, PRINTING PRODUCTION UAU corruption and cronyism are entrenched, this incentive

TO SEND EMAIL: ﬁrst [email protected] U NUNJ may well improve on our appalling poverty indices, as investment scheme. Page has been proved in so many developing countries. Leers to the Editor

Le ers in response to speciﬁc publications in THISDAY should be brief (- words) and straight to the point. Interested readers may send such le ers along with their contactTO OUR details READERS to opinions on topical local, national and international issues provided they are well-wri en and should also not be longer than ( - words). They should be sent to [email protected] [email protected] . We also welcome comments and TECHNOLOGICAL along with the email address and phone numbers of the writer. lobally, from elementary school to post graduate A DVANCEMENT level, students are increasingly getting acquainted A with the basics of coding. Coding, in this respect, knowledge would only be an aid in the technologicalND C questODE of a is another name for computer programming. nation. LAGOS These days, governments, educators and tech In the United States, both Silicon Valley heavyweights and INITIATIVE a universal digital language and provide solutions to myriad of crucial to hold industryat least a advocatesbasic understanding argue that ofit hashow become the devices the federal government had backed an initiative called Hour of G Code, which promotes computer science and STEM education in socio-economic problems confronting the society. According to that play such a large role in modern life actually work. the country. In 2014, Singapore introduced programming lessons him, with the new concept, Lagos State “has joined the league Computer programming or coding is the process of designing, of technology-compliant nations” that had recognised the writing, testing, debugging and maintaining the source code of in its public elementary schools to boost the country’s economy. These two and many others have recognised information technol importance of harnessing the power of technology for the success computer programmes. This source code is written in one or of their nations and nation-states. more programming languages with the purpose of creating a set ogy to be a strategic catalyst for getting competitive advantage for their children and citizens generally. Coming on the heel of another recently initiated programme, of instructions that computers use to perform speci c operations - tagged Eko n Keko (Lagos is Learning), Lagos State is, no doubt, Considering the relevance of computer coding skill in contem POLITICS or to control something or even for animations. in a hurry to use education as a veritable tool of socio-economic porary world, the Lagos State Government in collaboration with According to computer experts, the knowledge of coding is organisations such as SystemSpecs, Google, SAP and Praeklt development. The thinking of the current administration in Lagos important not only to individualT H I S students’ DAY future career prospects, - • MONDAY, JANUARYis planning, to progressively introduce software programming State is that the much popular mantra of Itesiwaju Ipinle Eko but also for their countries’ economic competitiveness as well as ( The Progress of Lagos State) cannot come to fruition without classes into public schools. The aim is to give students an op the ability of technology industry to unearth quali ed personnel. a solid foundation for children in quality formal and trending In our technologically enhanced world, people with excellent portunity to write code in a classroom setting. Obviously, this is The Sole Administrator the fence that divides technologically powerful cities and African education. Adding coding to the school curriculum is not only a computer skills are most likely to have an edge over their less - legacy worth bequeathing to our children but a project govern computer literate colleagues when seeking employment. countries especially Nigeria in a world that is becoming ever more tech-focused. It is that divide that Lagos State Government ments across the nation must of necessity embrace without delay. Currently, the era of using long hand, when secretaries Beginning from April 2017, Code Lagos centres are to be are expected to type for theirPOLITICS bosses had gone for good. So, is making efforts to cross with its recent unveiling of “Code - launched in 500 primary, secondary and tertiary institutions possessing a good understanding of a range of computing skills Lagos’’ computer programming initiative. This initiative is part of the bid to make Lagos State a technology frontier, and is also in (private and public) across the state,Group as well Politicsas in all public Editor is increasingly important. Consequently IT skills and capability libraries and ICT spaces. There are also plans to enable interested developed by the subject at school are just as important if not line with the smart city agenda of the current administration in Email Olawale Olaleye the state. parties log into the Code Lagos website and [email protected] to code at their It is the first of its kind in the historymore relevant than a good mastery of English and Mathematics. own pace. For this the government is set to commit funds to set The skill of programming may be complex to learn but a basic Speaking recently at the unveiling of the initiative, Lagos State Governor, Mr.M Akinwunmi O N D Ambode A Y stated D Ithat S theC O U Rup Sover E 1,000 coding centres across the state. The ultimate goal is primary aim of the initiative “is to meet the growing demand for for one million students in the state to have access to the coding SMS ONLY technical skills” so as to develop a workforce that would speak system by the year 2019. This is to prepare them for opportuni ties that would arise, as the state’s technology capacity increases. Rasak Musbau, Ministry of Information and Strategy, - of the country. A democratically The Sole AdministratorAlausa, Lagos It is going to be three years this year since the Osun State Governor, Mr. Rauf Aregbesola, has run the state without a cabinet, leaving him the sole elected governor has suddenly administrator. In this report, the state and her reckless leadership.THISDAY Additional Politics reportsDesk by examines the state of turned around to make himself the Yinka Kolawole sole administrator of his state. For this governor, Mr. Rauf Aregbesola, it The released Chibok Girls is however not the first time he would

dare a thing of this nature and get Aregbesola displaying a sample of the opon imo tab, one of the projects believed to have cost the economy dearly and completely extraneous to the needs of the people

t is the rst of its kind in the history of the country. A democratically elected governor has suddenly turned around streets. This unpleasant circumstance would later to make himself the sole administrator be made worse by the hard biting recession, of his state. For this governor, Mr. Rauf occasioned by their change administration. democratic governance in the state as he now Aregbesola, it is however not the rst Although Aregbesola managed to scale throughsolely runs the state, almost three years since his away with it. Page time he would dare a thing of this nature and his re-election in 2014 despite his man-made re-election, thus setting an entirely new record Coalition for the Emancipation of Osun State getI away with it. When he rst assumed of ce failings, he has further changed the focus of in democratic governance. (CSCEOS) lambasted Aregbesola for ruling the in November 27, 2010, he would not constitute She was found wandering in a forest, the for comment, following a familiar pattern. encounter to community leaders, who In what is best described as none other but state like a sole administrator for over two years his cabinet until almost over a year after he autocracy, he now solely conceives ideas and now, adding that the non-constitution of his was sworn in. His excuses then were yet a policies, analyses them by himself, opens up cabinet has been seriously affecting the growth, familiar tirade. Perhaps, his feeble and bids for contracts, awards them to whoever he development and progress of the state and He’d sold the idea that his predecessor, pleases, executes them all by himself, without advised him not to waste the precious time Olagunsoye Oyinlola, who was thrown out by deceptive ideological as much anyone engaging him in a debate of of the good people of the state in appointing a court to pave the way for his governorship leaning is more constructive alternative views. He is suddenly anhis cabinet members. had practically run down the state and as such, omni-administrator with preternatural tendencies there was a compelling need to embark on a He also expressed worry about the kind of rst of the nearly 300 Chibok schoolgirls People who have spoken to the freed worried that the "proof of life" message important to the media to foresee challenges and needs of the state andpersons that people the State House of Assembly, nancial re-engineering of the state. He sold the contain them pronto. whom he described them as toothless bulldog. He idea in a most strategic manner. He even went than the actual content Unfortunately, he’s used to getting away withdeclared his organization’s support to the recent round some major newspaper houses for their of his character, both as this administrative anomaly because of assumedmove by the Upper Chamber of the National buy-in into what he chose to call his unusual media conspiracy to shield those they want to Assembly in proposing to amend the amended approach to governance. a person and governor. shield and expose those not in their good books.1999 Constitution to compel the Federal and He described his vision in the most hyperbolic Perhaps, his feeble and deceptive ideological State Executive arm of government to constitute language, selling the impression of one with a And without much leaning is more important to the media than their cabinet within two months of assuming kidnapped by Boko Haram to escape on girls say they have stories the government might be too much for Binta to bear. very sound mind and an avid reader of books, ado, he’s failed to live the actual content of his character, both as a of of ce, urging the federal legislators not to with some Marxist upbringing. He though often FEATURESup to billings as far person and governor. And without much ado, drop the idea. MONDAY, JANUARY , • sounded pedantic during most of his ‘lectures’; he’s failed to live up to billings as far as his he mostly got away with a lot of this twaddle He maintained that the nancial crisis excuse T H I S DAY as his governorship is governorship is concerned and could leave of ceof Aregbesola was not tenable in the eyes of because of his perceived ideological leaning. more as a disappointment than reveling in the moralityActing and Features constitutional Editor democracy, saying But it didn’t take long before he squandered concerned and could kind of goodwill that ushered him into of ce the man-made nancial crisis facing the state was his goodwill. Soon, the truth about his person by the stroke of judicial intervention. as a result of Aregbesola’s poor management Charles Ajunwa and capacity to govern started to manifest. leave office more as a Email [email protected] A civil rights leader in the state, Comrade of funds accrued to the state from the Federa- her own and reach freedom. That was does not want told, including that Human rights lawyer Emmanuel He no longer could sustainRaising a majority of his the Bar on Reducing Disasters disappointment than Adeniyi Alimi Sulaiman recently condemned thetion Account, explaining that the governor has FEATURES projects or retain many of his employees across governor for the non-constitution of members ofcontradicted the provision of the amended 1999 his many O’Yes creations. The nances of the reveling in the kind of the State Executive Council (SEC) for over two Constitution of Federal Republic of Nigeria as state took a downward slope and everything As the countrygoodwill continues that ushered to grapple (2) yearswith of his numeroussecond term in of ce, urgingchallenges theenshrined in Section on 14all and 192fronts, to 196, where became stagnant with a frightening debt pro le. State House of Assembly under the leadership the state should be governed with the principles At a point, things Sumainabecame so bad in the state him into office by of Speaker Najeem Salaam to commence an of democracy, social justice and fairplay. that poverty could be seen literally walking writes the on the need for stakeholders to reduce disasters in the country Raising the Bar on Reducing Disasters the stroke of judicial impeachment process against the governor for A member of the opposition Peoples Democratic in May. Since then, Amina Ali Nkeki has three Chibok girls were killed during Ogede stepped in. breaching the Constitutional provisions and theParty (PDP), Mr. Kasali Oloyede remarked that he Oxford Dictionaryintervention succinctly Oath of allegiance to the Constitution of the Aregbesola’s action should be investigated for puts disaster as a very bad situ- Federal Republic of Nigeria. running the state as if his personal estate. The ation that causes problems. An Sulaiman, who is the Chairman, Civil SocietiesPDP man contended that EFCC and ICPC should unexpected event, such as a very Kasim bad accident, a ood or a re, that kills a lot of people or causes aT lot of damage. CONT’D ON NEXT PAGE The Oxford Dictionary succinctly puts In accordance with its statutory mandate of been sequestered by Nigeria's intelligence Nigerian Air Force bombings of Boko "If I had a daughter who was missing coordinating the management of all emergencies in the country, the National Emergency Management Agency (NEMA) has developed various policy documents to guide disaster risk reduction, disaster response and recovery. Identication of the elements at risk and vulnerable groups that are likely to be most affected by a disaster is the rst step in assess- agency, embraced just once by her family Haram camps. and she tried to send a message to me, disaster as a very bad situation ing disaster impacts and determining recovery needs. Enhancing Nigeria’s capability to recover from emergencies requires implementing recovery planning and programming activities in communities and across the following four inter-linked spaces that detonated the categories of impacts that communities and individuals have to recover from: humanitarian, social, months ago. Amina, who is believed to be at least l'd be very upset if someone withheld that causes problems. An economic, natural and built environments. According to the Guidance on Emergency Recovery, Nigeria is extremely vulnerable to droughts, oods, landslides, gully erosion and windstorms. Droughts it says, affect more people but ooding is the most frequent hazards. Droughts, hinted guide are most common in Sudano-Sahelian areas (such as Some say Nigeria's government is 20 though her uneducated mother says it. Amina tried to reach out, let's help unexpected event, such as a very in Borno, Yobe, Adamawa, Gombe Sokoto, Bauchi, Katsina, Kano, Gombe, Kebbi and Zamfara states). Flooding along the Niger River and its tributaries affects large parts of the population living along the river and is also becoming frequent in major urban centres such as Lagos, Port Harcourt, Kano and Ibadan. keeping the young woman silent because she has no idea, has insisted that her her complete the effort," he counselled. Landslides and extremely gully erosion bad accident, a flood or a fire, that impacts infrastructure and livelihoods of parts of Southeastern Nigeria with Anambra State being the most affected. Other disasters include disease outbreaks and epidemics, such A flood ravaged community as cholera, malaria, meningitis, measles, Lassa fever, yellow fever and more recently the reduction; brainstorming on how to encourage Avian in uenza virus (H5N1) in 2005. and bring all partners together to advance it doesn't want her telling the world about child's father is a victim, like herself, When Amina was freed, she and her The country has also experienced many casesthis cause. He said disaster can happen and some cutting across geopolitical boundaries, kills a lot of people or causes a lot of of collapsed buildings in some major cities that no one can stop disaster from happening while others were peculiar to specic areas. including, Abuja, Lagos and Port Harcourt; but, harped on the need to ensure no citizen The frequency and magnitude of disasters in Stakeholders need to create terrorism, militancy amongst others. Experi- die as a result of any form of disaster. the country have therefore become sources ence with recent disaster recovery efforts in of concern. awareness on a sustainable Nigeria highlights the need for additional Sidi, noted that the combination of natural “Our response to this challenge will ensure basis especially around guidelines, structures and support to improve hazards and vulnerability pose a constant the protection and well-being of our future on how we, as a nation, must address disaster threat to both lives and livelihood as the generation who are present here. This is build- the communities so that military blunders in the ght against who was kidnapped by Boko Haram family were own to Abuja, where TV recovery challenges. world was witnessing a rapidly increasing ing resilience on a sustainable platform. Nigeria we can build the resilience damage. Page In 2012 ood disaster in Nigeria resulted in impact of disasters with unacceptable impacts also faces security challenges from several human, material and economic losses, with in mortality indices. causes, including from micro nationalism, for the communities to be 363 people killed, another 5,851 injured, while According to Sidi, malaria, pneumonia, ethnic, religious and communal con icts, able to meet up with the 7,705,398 were affected and 2,157,419 persons diarrhoea, measles, HIV/Aids account for civil disturbances. were displaced. In like manner, con icts and more than 70 per cent estimated deaths in “Disaster from natural, con ict or techno- challenges of disasters. terrorism have caused wide spread damages, Nigeria. Adding that every single day, Nigeria logical sources threaten people’s lives and We need to mitigate these loss of lives, properties and the environment. loses thousands of under-ve year olds and health, limit and increase uncertainty of their the Islamic extremist group, or about and forced to ght for the insurgents. cameras and photographers documented Response to these disasters the Director hundreds of women of childbearing age. livelihoods and economic activity, severely disasters General of NEMA, Muhammed Sani Sidi, “This makes the country the second largest undermine market access and competitiveness noted, inform of relief, is not sufcient. Adding,contributor to the under-ve and maternal and compromise governance system. They also “That there is the need to strengthen our mortality rate in the world.” destroy both natural and built environment, strategies, plans and operations for effective He said there was the need to focus on the expose females to sexual abuse and violence, ers involved in recovery need to recognise disaster risk reduction, recovery and resilient seven targets of the new Sendai Framework contribute to increase in the number of refugeesthat successful recovery depends on their building. This we hope to do throughT H I S DAY the for Disaster Risk Reduction in Nigeria and and displaced persons, erode development commitment to providing the human and National Disaster Recovery Strategy and • MONDAY,the world JANUARY at large. Adding §, ¡ that, this year’s gains and limit structural stability. material resources and services required her desire to be reunited with the father Binta says that when her daughter was Buhari welcoming her at the presidential Framework.” theme will dwell on the rst target seeking to He emphasised that, “stakeholders need during medium and long term recovery. And The aforementioned cases prompted the create a wave of awareness about actions that to create awareness on a sustainable basis that, effective response to and recovery from NEMA to recently explain that the national need to be taken to reduce mortality around especially around the communities so that we emergencies require preparedness capacity disaster prole over the years shows that the world. According to UNICEF Multiple can build the resilience for the communities and that the impacts of and capabilities to Nigeria is bedeviled with varied and multiple Indicator Cluster Survey 2011,”It is no denial to be able to meet up with the challenges of recover from disasters differ in different hazards, some cutting across geopolitical that the threat from natural disasters is urgent disasters. We need to mitigate these disasters.” communities, that costs of recovery should boundaries, while others are peculiarBUSINESS to and need immediate concerted attention. To this end, Sidi said the 2016 International be weighed against needs and resources specic areas. These hazards have resulted “Although analysis of recent trends show Day for Disaster Risk Reduction, “provides the becauseGroup it is Business not possible Editorto recover Chika from Amanze-Nwachuku of her child — a detained former Boko rescued — hunters found Amina, her mansion. That happened again with the in disasters due to the activities of man that that the country is making progress in cutting opportunity to discuss the overarching global all possible contingencies. increased the vulnerability of the population. WORLD down infant and under-ve mortality rates, Email [email protected] R A T E S A S A T D E C E M B E R , challenge of disaster reduction; brainstorming The DG further explained that the strategic The frequency and magnitude NIBOR of disasters the pace still remains too slow. Preventable or on how to encourage and bring all partners considerations for recovery should be early have therefore become sources of concern. OVERNIGHT treatable infectious diseases such as malaria, together to advance this cause.” establishment of a transition strategy, from The Director General while delivering his pneumonia, diarrhoea, measles and HIV/ To develop a culture of disaster risk reduc- response to early recovery, to ensure the ap- BUSINESS speech at the 2016 International Day for ¤.¥ MONTH AIDS account for moreMONTH than 70 per cent of tion inNITTY Nigeria in which communities and propriate withdrawal of response functions Disaster Risk Reduction disclosed that the the estimated¥.¦¥ one million under-ve ¦.§deaths institutions understand the risks from and and activities. Adding that an approach that event provided the opportunity to discuss in Nigeria.” MONTH vulnerability -MONTH to hazards and prepared with is consistent with the level of residual risk, Haram commander. 4-month-old baby girl and the father in 21 freed girls. the over arching global challenge of disaster . ¥¥¤ It will be recalled that the national disaster coordinated -MONTH capabilities to prevent,.¤§¡ protect recovery issues and priorities by adopting a prole over the years, shows that Nigeria was against, respond to, and recover from all -MONTHholistic approach to recovery inclusive of social, -MONTH .¦¥¦ §.¡¦¤ EXCHANGE RATE Report: Nigerian Banks Have Overdue bedeviled with varied and multiple hazards, hazards in a way that balances risk with -MONTHeconomic, infrastructure and environmental resources and need. ¡.§¤ considerations..¤¡ The timely identicationN ¥.¥/ and US DOLLAR* -MONTH “It is pertinent to know that, stakehold- appointment of.¦¥ lead agencies to coordinate*AS AT LAST FRIDAY functions related to the each of the above considerations. "I worry, sometimes, that I don't know a forest — she said she didn't want to The girls needed trauma counselling Quick Takes Obligations to Correspondent Banks Promasidor Wins NIPR Award The efforts of Promasidor Nigeria Limited in elevating the standard of education through its Cowbellpedia Mathematics Television Quiz Show initiative has earned it the ‘Best Company if she is alive or dead," her mother, Binta go back to school. But her mother and and medical care, not exposure to the in Education’ in the . The company was rewarded at the Lagos PR Industry Gala and Awards (LaPRIGA) organised by the Nigerian Institute of Public Nigerian banks in had piled up Relations (NIPR), Lagos Chapter in Lagos recently. Speaking at the event, the Chairman, Lagos NIPR, Mr. Olusegun McMedal, said the consistency of Promasidor’s Cowbellpedia Mathematics Quiz initiative is commendable, adding that it has motivated students to have interest in the subject which is a basic Ali Nkeki, sobbed during an exclusive brother, Noah, persuaded her to take media, Human Rights Watch said at requirement in any profession in life. He affirmed that Promasidor has done well in ensuring that students imbibe the culture of having Mathematics as one of their favourite subjects in school. unpaid overdue trade obligations Receiving the award, the Assistant Brand Manager, Promasidor, Miss. Oluwatooni Odewole, said it was deserving because of shows the company‘s strong commitment in improving the standard of SPECIAL RECOGNITION education and encouraging them to erase the notion that Mathemat- telephone interview with The Associated up Nigerian President Muhammadu the time. L-R: Specialties Engineer, Total Nigeria Plc, Enyioko Cosmo; Head, Brand Management, Chams Plc, Adedayo Adejokun; Sales Man-ics is a difficult subject that should be neglected. ager, Okomu Oil Palm Company Plc, Chris Amedu and Head, Regional Trade & Regulatory Affairs, Guinness Nigeria Plc, Miss Mojisola“It is part of the corporate social responsibility (CSR) initiative of Akpata during the Consumer Rights Awareness Advancement & Advocacy lnitiative annual summit and award in Lagos....recentlythe company which has greatly imparted on students’ perception of the subject,” she stated. to correspondent banks, a report Also on the CSR initiative, the Managing Director of Promasidor Nigeria Limited, Mr. Olivier Thiry, said a strong foundation of Science, Technology, Engineering and Mathematics (STEM) education has Report: Nigerian Banks Have Overdue become very important at this stage when Nigeria is determined Press from her remote North-east village Buhari's promise to give her the best On Christmas Day, the freed girls to broaden its economic base like that of the developed world. Obligations to Correspondent Banks Creativity Week Goes Continental To celebrate the th year of Creativity Week, seasoned cre- by Ecobank Nigeria Limited has Obinna Chima ative professionals have been selected to preside over creative competitions during the -day event. Competition for honours BANKING Nigerian banks in 2016 had and regional development - 11 has also been extended to creatives from West African countries. per cent. It estimated that the Creativity week is the brain child of CHINI Productions, the of Mbalala. She said she hasn't seen her education possible. visiting Chibok did not get to see their piled up unpaid overdue trade The Nigerian Debt Capital obligations to correspondent According to the report, the funding structure would be official representatives of Cannes Lions on Nigeria. The event situation also led to trade credit Markets is beginning to see a banks, a report by Ecobank 30 per cent equity and 70 per is slated for the Muson Centre in Lagos in March. evaporation; shrinking suppliers’ revival as OTC companies such Nigeria Limited has revealed. cent debt. The event will feature creativity competitions, Academies, Lions credit and bill of collections; cold as FMDQ continue to improve Although the report did not Edit Seminars and workshops, with an Award Night capping it up feet by export credit agencies; It noted that investment in transparency and processes revealed. Although the report did not specify the affected banks, it infrastructure had been ne- on the final day. and infrastructural challenges. within the market,” it added. further pointed out that over glected in the past, but pointed Creative professionals in the Nigerian marketing communica- According to the report, $14 billion in foreign investment “Infrastructure continues to beout that, however, there is a lot tion space, such as the Managing Director of DDB Lagos, Ikechi a major challenge constraining,” provision of long-term capital daughter since July. "They told her that soon she will be parents. They were kept in the house was lost within a year, a big more appetite and willingness Odigbo, Chief Creativity Officer, XM Ideas, Steve Babaeko, a it added. will trigger the development presently, given the potential former President of the Public Relations Consultant Association issue which it said affected all of new long term instruments deposit money banks in Nigeria. But in other to develop and sources of domestic nance are of Nigeria (PRCAN), Chido Nwakanma and a few others, have been maintain Nigeria’s infrastructure (REITs, Infrastructural Bonds, becoming available. picked by the organisers as Jury Presidents and Academy deans Research analyst at Ecobank in the next 30 years, the country etc) as well as to provide local Nigeria Limited, Mr. Kunle for the competitions and academies. would require an estimated $3 Nigeria’s diaspora is a pool counterpart funding for nanc- specify the affected banks, it further Ezun, stated this in a report of funds that can potentially According to the Managing Director CHINI Productions, Nnamdi trillion. The report listed the ing developments of real assets titled: “Strategic Business be tapped into as the World Ndu, the competitions will include the Young Pro West African sector that requires funding in and hard infrastructure in the Review...with insight into 2017,” Bank estimates that Nigerian Championship, the Miami Ad School Scholarship Competition Sunday marks 1,000 days since the starting school," Noah Ali Nkeki told of a local legislator until Borno State the country over this 30-year economy. obtained at the weekend. diasporas sent back some $21 and the Roger Hatchuel Academy. period to include social infra- billion in remittances alone since The report pointed out that It attributed the developmentstructure - ve per cent, ICT - 11 the Nigerian economy is already “The Young Pro category is meant for professionals employed to “the scarcity of foreign ex- 2013. in a related sector and should not be more than years old. It per cent; vital registeration and diversi ed by Gross Domestic change and the xed pegged is open to competitors in Cote D’Ivorie and Nigeria with a team security -two per cent; energy “The new administration Production (GDP) contributions, exchange rate policy of the has identi ed infrastructure comprising of two individuals. Winners will represent their countries - 33 per cent; transport - 25 per but stated that over-dependence pointed out that over billion in Central Bank of Nigeria (CBN). (both hard and soft) as its main at the Cannes Lions International Festival of Creativity in June cent, agriculture, water and min- on hydrocarbons for foreign area to tackle and are looking ¡,” he said. ing - 13 per cent; and housing earnings and government Chibok schoolgirls were abducted together the AP in an interview. He got the news Governor Kashim Shettima arrived to toward mobilising funds for revenue remains the bane of infrastructure development. HSBC Raises World Economic Growth BOI Disburses N3.1bn Funds to Micro Economists at HSBC last week raised their forecast for global Continued on page 24 growth and inflation over the next two years based on robust Entrepreneurs manufacturing activity, a resilient China and above all the fiscal boost expected to come in the United States. Crusoe Osagie It was the first time in nearly five years they have upped their from a government boarding school in a rare phone call from his sister on "present" them to their parents the next growth and inflation outlooks over a two-year horizon as ¡ The Bank of Industry (BOI) INDUSTRY gets underway and as investors prepare for U.S. President-elect has disbursed over N3.1 billion the federal government. penetration of participating Donald Trump entering the White House. for on-lending to micro entre- nancial institutions in all “BOI is currently in partner- the bottom of the pyramid. “The British economy appears to be in ruder health than had preneurs under its Bottom of ship with 11 micro nance banks parts of the country to stimulate He noted that the programme been anticipated expected following the country’s decision in June the Pyramid (BOP) programme, under the BOP scheme to which economic activity within the will further enable BOI achieve to leave the European Union, while Japan, Germany and Spain are a scheme the development the sum of N1.1 billion had critical mass at the bottom of its core mandate of industri- also looking brighter,” HSBC said. nance institution (DFI) said is earlier been disbursed. The the pyramid alisation by providing nance essentially aimed at poverty re- inclusion of LAPO micro - in April 2014. Most of them remain in Thursday, the rst time he had heard day. Witnesses said the girls were angry Olagunju during the cheque for the economically active duction through job and wealth nance bank N1 billion, Fortis presentation ceremony to BOP and the nancially excluded creation focusing on the rural micro nance bank N500 million on-lending loan bene ciaries, micro-entrepreneurs. micro-enterprise operators with and Lotus Capital N500 million a partnership with renowned In his words: “By partnering a view to extending nancial will bring the number of such micro nance banks for credit with these micro nance banks, inclusion in the country. partnerships to 14,” he said. delivery to microenterprises, we will be able to focus more “The Central Bank of Nigeria The acting Managing Director,pointed out that the BOP aligns According to him, the schemeon the funding of Small and should give Arik and Medview BOI, Mr. Waheed Olagunju, will enable the DFI to deepen its with the employment and Medium Enterprises (SMEs). We special concession and the captivity. The few who have been freed, from her in three months. that they were prevented from going said the scheme is designed developmental lending activities opportunity to buy forex. We wealth creation objectives of the have also decided to work with CITYSTRINGS to leverage on the spread and by utilising the services of other have saved the country a lot of National Enterprise Develop- them because lending to micro tested nancial institutions to ment Programme (NEDEP) of enterprises requires special skills money that would have gone deliver credit to the under- that they have acquired.” out as capital ight” SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV. 21 - NOV. 25 2016 served and under-banked at Chairman, Arik Air, like Amina, have found themselves not He cannot call her. Of cials call him home and to their church's Christmas The Hell Inside Abuja Continued on page 24 Joseph Arumemi-Ikhide MONDAY, JANUARY , CITYSTRINGS • T H I S DAY completely free. using a blocked number and then put service. It may not be regarded as Nigeria’s Acting Features Editor: Charles Ajunwa Email [email protected] The mass kidnapping horri ed Amina on the line. The girl's mother Shettima's spokesman, Isa Gusau, seat of power, but Garki District as the SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV. 21 - NOV. 25 2016

S/N CUSTOMER NAME 1 ABIMBOLA IZU 2 ADEBISI PAUL KOLAWOLE ITEM OF IMPORT the world and brought Boko Haram doesn't get to speak to her because she denied that 3account, TIJAFOX OIL NIGERIA LIMITED TUITION FEES which came from main business district of Abuja is the SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK OCT. 24 - OCT. 28 2016 4 MOJEC INTERNATIONAL LIMITED TUITION FEES DATE OF SALES EXCHANGE RATE AMOUNT 5 OSAROEDEY KASEMI ONENEE TUITION FEES 21/11/2016 315.00 TUITION FEES 6 OSAROEDEY KASEMI ONENEE 21/11/2016 17,679.00 306.00 TUITION FEES 7 EVERBRIGHT INDUSTRIES LIMITED 21/11/2016 2,710.00 306.00 S/N CUSTOMER NAME TUITION FEES 8 EVERBRIGHT INDUSTRIES LIMITED 21/11/2016 3,400.00 306.00 9 EVERBRIGHT INDUSTRIES LIMITED CHEMICAL - LOW DENSITY POLYTHYLENE EXTRUSION 21/11/2016 3,640.29 international attention. The failure of doesn't own a cell phone and reception some of the parents. 306.00 1. MARKIE IDOWU ITEM OF IMPORT 10 HALIMA SADIYA USMAN CHEMICAL - HOMOPOLUMER (RAFFIA) 21/11/2016 heartbeat and pearl of the nation’s 2,877.37 315.00 LOW DENSITY POLYETHYLENE EXTRUSION Fd0474 2. PRIMLAKS INDUSTRIES LIMITED 11 IBRAHIM MUHAMMAD HUSSAINI 22/11/2016 2,122.63 315.00 12 ZEX STANDARD PHARMACEUTICALS MEDICAL FEES 3. ABSOL FARMS NIGERIA LIMITED SCHOOL FEES PAYMENT DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT 22/11/2016 45,690.08 315.00 13 LAND CRAFT INDUSTRIAL LIMITED TUITION FEES 4. ACHIME & COMPANT ENTERPRISES NIGERIA LIMITED. AGRICULTURALHOT WATER ROD STEEL PUMP SHEET 22/11/2016 34,959.15 315.00 14 SONA AGRO ALLIED FOOD LIMITED ETHY ALCHOHOL EXTRA NEUTRAL ALCHOHOL GRAIN (LC CHARGES) 22/11/2016 SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV 21ST -NOV 25TH 2016 POULTRY FEEDING EQUIOMENTS AND ACCESSORIES 25/10/2016 24/10/2016 22/11/2016 64,894.50 5. AMARILO PLASTICS LIMITED 306.00 SILICO MANGANESE(LC CHARGES) 24/10/2016 315.00 15 FOUR BROTHER INDUSTRIAL NIGERIA LIMITED 22/11/2016 3,500.00 6. ARS NIGERIA LIMITED 306.00 Nigeria's former government to act in her village is poor. 1,095.00 "I am not sure16 MAI ANGUWA DANLAMI theyAMMONIUM BICARBONAT(LC were CHARGES) denied access DIOCTYLE PHTHALATE (DOP) 315.00 3,872.36 7. COBEF INTERNATIONAL LIMITED 315.00 capital. Some of Garki’s key features ODORIFEROUS MIXTURES FOR INDUSTRIAL(LC CHARGES) 19,675.50 17 DEBORAH SOREMI 22/11/2016 1,743.59 DISPERSIOM INPLASTICS 25/10/2016 315.00 315.00 8. DE MASTERS PALACE INVESTMENT LIMITED TUITION FEES 20,408.95 18 CORONATION BANK 22/11/2016 699.32 25/10/2016 315.00 315.00 9. INTERNATIONAL TOBACCO COMPANY PLC POLY VINYL CHLORIDE TUITION FEES 20,000.00 19 DIAMOND BANK 22/11/2016 163.38 315.00 315.00 10. JUDDY-BOLEMA INDUSTRIES LIMITED AUTOMATIC WAFER BAKING MACHINE AND BATTER MIXER 25/10/201625/10/2016 INTERBANK SALES 20 ECOBANK 23/11/2016 800.5 18,000.00 315.00 11. KHAIRAT PHARMACY AND VET COMPANY LIMITED OXYTETRACYCLINESPARE INJECTION PARTS 25/10/2016 315.00 INTERBANK SALES 21 FBN MERCHANT BANK 24/11/2016 2,540.00 23,702.00 315.00 GALVANIZED IRON WIRE 315.00 INTERBANK SALES 12. ODUGBEMI OLUGBENGA 22 FIDELITY BANK 24/11/2016 1,500.00 quickly to free the girls sparked a global "I don't know what the government 20,560.00 to their parents because that305.00 was the 25/10/2016 315.00 INTERBANK SALES 13. PRISM STEEL MILLS LIMITED 23 FIRST BANK 24/11/2016 200,000.00 20,600.00 305.00 are boutique hotels, major roads 14. ADETOLA ADEGOKE SCHOOL FEES PAYMENT 25/10/2016 315.00 24 HERITAGE BANK INTERBANK SALES 24/11/2016 150,000.00 10,259.60 305.00 WHITE QUICKLIME 25/10/2016 315.00 25 KEYSTONE BANK INTERBANK SALES 24/11/2016 50,000.00 15. JOY INFINITIO GLOBAL BUSNIESS DEALINGS LIMITED AGRICULTURAL EQUIPMENT 305.00 25,072.09 26 STERLING BANK INTERBANK SALES 24/11/2016 16. ONI TITILOYE SCHOOL FEES PAYMENT 25/10/2016 315.00 50,000.00 15,000.00 305.00 315.00 27 UNION BANK INTERBANK SALES 24/11/2016 200,000.00 17. BESTLIME INTERNATIONAL LIMITED 25/10/2016 305.00 2,341.92 28 UNITY BANK INTERBANK SALES 24/11/2016 50,000.00 18. POLYTHENE ENTERPRISES NIGERIA LIMITED SCHOOL FEES PAYMENT 26/10/2016 315.00 305.00 Bring Back Our Girls movement; even is trying to do. They have had her now 15,870.00 essence of them29 GABROVIC NIGERIA LIMITED beingINTERBANK SALES taken24/11/2016 to 50,000.00 Chibok 19. POLY PRODUCTS NIGERIA LIMITED WHITE QUICKLIME 26/10/2016 315.00 305.00 5,318.00 30 GABROVIC NIGERIA LIMITED INTERBANK SALES 24/11/2016 50,000.00 and public institutions, where policy 20. VISTA INTERNATIONAL LIMITED MODIFIED STARCH FOR CARTON INDUSTRY 26/10/2016 315.00 305.00 28,026.30 31 MOJEC INTERNATIONAL LIMITED CATFISH FEED 24/11/2016 50,000.00 315.00 305.00 21. ACME PACKAGING LIMITED MOULDER 27/10/2016 32 MIMARATHON RESOURCES LIMITED CATFISH FEED 285.20 24/11/2016 100,000.00 27/10/2016 350.50 305.00 22. ALOKRISH LIMITED UNCOATED WOODFREE PAPER 33 AUSTIN OBILONU PLASTIC INJECTION MOLDING MACHINE BRAND 25/11/2016 50,000.00 14,677.83 305.50 23. GIVANAS INDUSTRY NIGERIA LIMITED TESLINER FOUTING IN REELS 27/10/2016 350.50 34 KHAIRAT PHARMACY $ VETERINARY COMPANY LIMITED ALBANEET 250MGCUSTOMIZED (ALBENDAZOLE) MANAGEMENT SERVER 25/11/2016 7,148.80 15,300.00 315.00 24. EURO GLOBAL FOODS & DISTILLERIES LIMITED EMPTY HARD GELATIN CAPSULES 27/10/2016 350.50 35 ALOKRISH LIMITED TUITION FEES 25/11/2016 2,851.20 U.S. First Lady Michelle Obama posted for seven months," Noah said. 4,680.00 in the rst place," he told the305.00 AP. "If you 25. PHOENIX STEEL MILLS LIMITED ODORFEROUS MIXTURE 27/10/2016 350.50 36 WANDEL INTERNATIONAL NIGERIA LIMITED 25/11/2016 100,000.00 20,000.00 305.00 HERBAL / BITTER EXTRACT 27/10/2016 350.50 37 PAPERLAND INDUSTRIES LIMITED PARACETAMOL CHEMICAL POWDER 25/11/2016 30,000.00 decisions regulating the matters of 26. SALASAR ENTERPRISES LIMITED 21,561.52 305.00 27/10/2016 350.50 38 GIVANAS INDUSTRY NIGERIA LIMITED MOTORIZED TRICYCLES IN CKD 25/11/2016 6,000.00 27. SONA AGRO ALLIED FOODS LIMITED CONVERTIBLE/LADLE GOODS 305.00 17,000.00 UNCOATED PAPER-WOODFREE 350.50 39 WANDEL INTERNATIONAL NIGERIA LIMITED 25/11/2016 44,000.00 28. EL-KAY KAY INDUSTRIES LIMITED ACTIVATED EARTH CLAY FOR PURIFYING WASTE OIL 27/10/2016 305.00 10,385.00 40 RICHYGOLD INTERNATIONAL LIMITED ODORFEROUS MIXTURE 25/11/2016 20,000.00 29. CELLOPACK INDUSTRIES LIMITED AMMONIUM / SODIUM 27/10/2016 350.50 305.00 14,767.75 41 UBADIMMA NIGERIA LIMITED MOTORIZED TRICYCLES IN CKD 25/11/2016 18,744.57 30. BERGER PAINT NIGERIA PLC UNCOMPLETED EMPTY CANS 27/10/2016 350.50 305.00 a photo with its logo on social media. Binta, a gaunt woman whose eyes 20,858.80 say their movements42 MIKADO NIGERIA LIMITED PARACETAMOL (POWDER) were25/11/2016 restricted 30,000.00 for 31. SUPREME POLYARN LIMITED PLAIN (NON PRINTED) RIGID PVC BLOWN FILMS 27/10/2016 350.50 305.00 20,000.00 43 MRS SHAKIRAT YEMBRA & MR LOVETT YEMBRA ELECTRONIS 25/11/2016 30,000.00 27/10/2016 350.50 305.00 32. CHIZZY NIGERIA LIMITED CALCIUM CARBONATE 44 EZINWANNE DOROTHY NNORUKA ODIFEROUS SUBSTANCES 25/11/2016 state are formulated. Page 7,111.35 3,255.43 27/10/2016 350.50 305.00 33. TATA AFRICA SERVICES (NIGERIA) LIMITED LOW DENSITY POLYPROPYLENE LOTRENE 45 PHOENIX STEEL MILLS LIMITED TUITION FEES 25/11/2016 15,000.00 10,000.00 305.00 34. VISTA INTERNATIONAL LIMITED PIGMENTS AND ADDITIVES 27/10/2016 350.50 46 MOLHADEEN INTERNATIONAL NIGERIA LIMITED TUITION FEES 25/11/2016 20,000.00 A part of Garki 21,825.19 305.00 35. VISTA INTERNATIONAL LIMITED SODIUM LAURYL ETHER SULFATE (CHEMICALS) 27/10/2016 350.50 47 ROYAL CHANTELLE LIMITED CONVERTIBLE /LADLE GOODS 25/11/2016 20,000.00 11,440.00 305.00 36. FINE CHEMICALS NIGERIA LIMITED UNCOATED WOODFREE PAPER 27/10/2016 350.50 48 ALOZIE TONYE MILLICENT PVC RIGID FILM 250 MICRON 25/11/2016 8,000.00 Amina was the rst of the kidnapped mirror the pain of a hard life and whose security reasons and for their305.00 safety, I 19,120.00 49 CHEMLAP NIGERIA LIMITED NICGRVAOL SPECIAL YARN FOR FILER BAG 37. FINE CHEMICALS NIGERIA LIMITED UNCOATED WOODFREE PAPER 27/10/2016 350.50 25/11/2016 5,000.00 20,000.00 305.00 28/10/2016 350.50 50 CHEMLAP NIGERIA LIMITED TUITION FEES 25/11/2016 50,000.00 TOTAL SOLBIN CHEMICALS 315.00 27,710.00 PVA FLAKES 25/11/2016 9,537.50 SOLBIN CHEMICALS 28/10/2016 315.00 315.00 10,573.06 DIBUTYL PHTHALATE 25/11/2016 1,441.89 28/10/2016 315.00 315.00 85,492.74 25/11/2016 2,000.00 28/10/2016 315.00 305.00 88,596.00 25/11/2016 9,360.00 315.00 305.00 The Hell Inside Abuja girls to escape on her own. Months later, hands are rough from farming, was think thatSCHEDULE makes OF SKYE BANK'S PURCHASES sense." FOR THE WEEK NOV.TOTAL 21 - NOV. 25 2016 20,640.00 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK OCT. 24 - OCT. 28 2016 65,338.20 772,652.00 1,645,771.56 S/N SOURCE Right in the heart of Abuja where some of the key institutions of government are 1 AUTONOMOUS S/N SOURCE DATE OF FUND PURCHASE 2 AUTONOMOUS concentrated is the urban area called Garki, but it also has one of the most neglected 21/11/2016 3 AUTONOMOUS EXCHANGE RATE 1. 22/11/2016 AUTONOMOUS DATE OF FUND PURCHASE 4 AUTONOMOUS 314.50 slums in the country, AMOUNT in October, the government negotiated widowed ve 2. years ago. Eleven of Yakubu Nkeki,22/11/2016 chairman of the Chibok AUTONOMOUS 5 AUTONOMOUS 314.50 EXCHANGE RATE AMOUNT 1,801.63 3. 23/11/2016 Olawale Ajimotokan AUTONOMOUS 24/10/2016 6 CENTRAL BANK OF NIGERIA 314.50 301.58 t may not be regarded as Nigeria’s 4. AMOUNT 24/11/2016 AUTONOMOUS 7 AUTONOMOUS 314.50 24/10/2016 314.50 3,613.36 seat of power, but Garki District as reports 5. 24/11/2016 all be found in Garki. AUTONOMOUS 8 AUTONOMOUS 314.50 the main business district of Abuja 25/10/2016 314.50 9,589.82 6. 173,842.30 24/11/2016 It also houses the cluster of foreign embas- AUTONOMOUS 9 DIAMOND BANK 304.50 INTERNATIONAL is the heartbeat and pearl of the 25/10/2016 5,675.99 sies chief among which are China, U.S., consciousness of the decision makers, who 7. 314.50 18,958.10 24/1 nation’s capital. AUTONOMOUS 1/2016 314.50 26/10/2016 1,500,000.00 Brazil, Ghana and Angola, all conspicuous place it on the same scale as Ajegunle, the the release of 21 Chibok girls. Another her children have8. died, in childbirth314.50 18,000.00 association of parents25/11/2016 of the kidnapped Some of Garki’s key features are 305.00 sprawling slum in Ajeromi-Ifelodun Local and Nsukka Street have overtly evolved AUTONOMOUS 26/10/2016 8,547.00 boutique hotels, major roads and public on both sides of Ernest Shonekan Drive. 314.50 into ducts where waste water generated 1,784.66 305.75 institutions,I where policy decisions regulating Some of Nigeria’s foremost nationalists, Government Area of Lagos State, where TOTAL 27/10/2016 314.50 7,148.80 public infrastructure and health facilities by the households gather as there is no 30,000.00 TOTAL the matters of state are formulated. including Herbert Macaulay, Tafawa Balewa, 28/10/2016 350.00 50,000.00 Obama Says He Takes ‘Some Responsibilities’ Ladoke Akintola, Ahmadu Bello, Fumilayo are decrepit and not adequate. functional drainage in the neighbourhood. 3,629.50 The headquarters of Nigeria Army, the Old 1,586,678.18 and Federal Secretariats, the Central Bank Ransome-Kuti and Moshood Abiola all have It is located in a place off the two major The lack of drainage exposes the inhabitants 314.50 276,437.44 of Nigeria, Nigerian Television Authority major roads named after them in Garki. link roads, Ahmadu Bello Way and Samuel to the risk of malaria and other opportunistic 250,000.00 www.skyebankng.com (NTA), Ministry of Defence, Arts and Culture But at the southern most corner of the Ladoke Akintola Boulevard. diseases that thrive in dirty environment. girl was freed in November in an army or soon afterward. Abina and Noah girls and who is not related to Amina, Aside parts of the only tarred roads- Water has become a scarce commodity 772,652.00 Centre, the General Post Of ce, Federal district is Garki II: a sharp contrast to the Capital Development Authority (FCTA) sterling attributes of Garki. It is here that Lagos Street and Oka Akoko, that link the for the community dwellers, whose regular International Conference Centre, Nicon the Garki Village, a cobweb of unplanned neighbourhood, plus the 80 metres stretch to source of supply is through truck pushers for Democrats’ Loss of Power Luxury Hotel and Hawthorne Suites can structures and one of the knockdown places the quarters of the Sa’Peyi (Village Chief), and untreated sachet water sold by retailers. in the heart of Abuja can be found. Alhaji Usman Nga- Kupi- the rest of the Private hospitals and the Garki Village The Garki Village scarcely exists in the place is a ghetto conscripted to its fate by Primary Health Centre built by Abuja the relevant authority. Municipal Area Council (AMAC) serve raid on an extremist camp in the Sambisa are all she has. www.skyebankng.com said the Department of State Security The bumpy roads, particularly Enugu Street the medical needs of the residents. MONDAY JANUARY , The Primary Health Centre has a doc- President Barack Obama feels good • T H I S DAY tor, a few nurses and auxiliary medical Forest. "I wonder how my only grandchild intelligence agents who accompanied INTERNATIONAL Obama Says He Takes ‘Some Responsibilities’ for about his policy legacy, and thinks more email:[email protected] On Thursday, one more was found is doing," she said of Amina's daughter, the girls deemed it unsafe for them to Democrats’ Loss of Power President Barack Obama feels good about his policy legacy, and thinksdistrict lines for both state and SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK JAN 3RD -JAN 6TH 2017 more of it may survive the Trumpfederal legislative seats in ways of it may survive the Trump presidencypresidency than most people expect. system has long been a focus that locked in an advantage for of his. He then took what But in an interview that airedtheir party. skeptical of the party and who Sunday on ABC’s “This Week,” sounded like a mild dig at supported President-elect Donald during military interrogations of Boko Sa a. "Do you think she's walking by visit parents in outlying villages. But “We were just at the beginningsDemocrats, including those means that we’re showing up in the outgoing chief executive saidof a recovery,” Obama said. “You Trump in the election. in the failed Hillary Clinton places where right now we’re notwent on. “And if Democrats are not he recognises that the Democraticknow, whoever is president at that “I want to see the Democratic campaign, by saying Demo- winning a lot.” showing up in those places, even Party has lost a lot of power duringpoint is gonna get hit and his party’s Party move in that direction,” crats need to work harder to “The big divide right now is if you even if you’re not gonna his watch, and wishes he had donegonna get hit. That then means Obama said. “And what that means win over voters who’ve grown between urban areas, which havewin right away, but if you’re not in more to strengthen it. that suddenly you’ve got a is that we aren’t just micro-targeting than most people expect. become increasingly Democratic,there at least making an argument “I take some responsibility onredistricting in which a lot to eke out presidential victoriesand it rural or exurban areas that feel that,” Obama said. that, ‘Hey, you know what? It’s the of state legislatures are now as if they’re being ignored,” he Haram suspects, along with the baby now?" those with homes in Chibok town were The president was responding Iran’s Ex-President Rafsanjani Democrats who are trying to raise Republican. They draw lines your minimum wage.’” to a question from host George that give a huge structural Stephanopoulos about the lossesadvantage in subsequent Dies at 82 Democrats have suffered in Con- Jerusalem Attack: Four Dead after elections.” Iran’s ex-President Ali Akbar gress, where they have relinquishedBut, Obama went on to say, majorities in both parties, and in Hashemi Rafsanjani, a dominanthad disqualified Mr Rafsanjani Lorry Driver Rams Soldiers SKYE BANK PLC But in an interview that aired Sunday he focused on governing to figure in the country’s politics since state legislatures, where they havethe exclusion of politicking after he entered the race for the lost more than 900 seats. the 1980s, has died at the age of SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV 28 - and the Democratic Party 2013 presidential election. Four people have been killed in she had given birth to in captivity. Binta was suicidal after her daughter's not allowed to stay with their families, 82, media say. S/N CUSTOMER NAME A big factor, Obama said, wassuffered. After his defeat in 2005, Mr Jerusalem by a Palestinian who timing. Mr Rafsanjani had suffered a the soldiers, before reversing 1 BROLLO PIPE AND PROFILE INDUSTRIES LIMITED “Because my docket was Rafsanjani became openly criticalrammed a lorry into a group Obama took office in 2009 as the heart attack, the reports said. of the president. over the victims. 2 ACME PACKAGING LIMITED really full here... I couldn’t of soldiers, in what police say 3 HOME GROWN LIMITED ITEM OF IMPORT He served as president from “He drove backward to crush economy was in free fall. Although In 2009, he sided with 4 NGOBROS & COMPANY LIMITED HOT ROLLED STEEL SHEETS IN COIL be both chief organizer of the 1989 to 1997 but lost to Mahmoud was a terrorist attack. DEC 2, 2016 he acted quickly to help, most reformers who disputed that more people,” eyewitness Leah 5 FOLAJIMI ASHIRU WHITE KRAFTLINER FOR PRODUCTION OF CORRUGATED PAPER CARTON 28/11/2016 Democratic Party and func- Three women and one man, DATE OF SALES EXCHANGE RATE AMOUNT notably with the Recovery Act and Ahmadinejad when he ran againyear’s elections, although the Schreiber told reporters. “That 6 JACLIZ NIGERIA LIMITED CORRUGATED PAPER CARTON on ABC’s “This Week,” the outgoing tion as commander-in-chief all in their twenties, were killed BABY DIAPER RAW MATERIAL 28/11/2016 in 2005. his rescue of the U.S. auto industry, hardline Mr Ahmadinejad won was really clear.” The attack took 7 GABROVIC NIGERIA LIMITED 305.00 and president of the United and at least 13 more were LIVING EXPENSE the 2010 midterm elections took Although Mr Rafsanjani was place on the popular Armon 8 RASYLTA SERVICES LIMITED 305.00 25,000.00 When Amina's mother heard last month kidnapping, community leaders have either. States,” Obama said. “We a second term. PIPE SUPPORT MATERIAL 28/11/2016 wounded, medics say. Police part of the religious establishment, Hanatziv promenade overlooking 9 JO-MADUGU, AUGUSTINE EGBUNU 305.00 15,000.00 place before the economy had did not begin what I think Mr Rafsanjani was among CAT FISH FEED 28/11/2016 he was regarded as a “pragmatic said the driver was shot dead 10 BOBAN INVESTMENT LIMITED 305.00 5,000.00 started to improve in ways most those calling for the release of the walled Old City of Jerusalem. ALLUMINIUM MATERIALS 28/11/2016 needs to happen over the by soldiers from the group. 11 DE-SHALOM PHARM LAB NIGERIA LIMITED 315.00 25,000.00 people felt in their daily lives. conservative” open to improving Police spokesman Micky TUITION FEES 29/11/2016 long haul, and that is rebuild political prisoners and greater 12 ALZICO LIMITED 306.25 4,450.37 ties to the West. Over the past 15 months thereRosenfeld said security had been TUITION FEES 29/11/2016 That election was critical, Obama political freedoms for parties 13 LEO AND CLEM ENTERPRISES 306.25 25,000.00 the Democratic Party at the have been many attacks on PHARMACEUTICAL PRODUCTS 29/11/2016 said, because it gave Republicans His final role was head of theprepared to work within the heightened throughout the city 14 WHITEDOTS INVESTMENTS LIMITED 305.75 14,000.00 ground level.” Israelis by Palestinians - using AGRICULTURAL MACHINERIES PRIME MOVERS GX AND WATER PUMP 29/11/2016 29/11/2016 a chance to dominate redistricting, Expediency Council, which triesconstitution. to The state-run Irinn in response. Jerusalem Mayor 15 FOLD NIGERIA LIMITED 306.25 25,000.00 chief executive said he recognises Obama noted that he knives, guns and sometimes MOTORCYCLE SPARE PARTS 29/11/2016 resolve disputes between parliament 16 BROSNA ELECTRICAL PRODUCTS LIMITED 3,132.00 which takes place every 10 years. network announced on Sunday Nir Barkat called on residents 29/11/2016 306.25 started his career as a political vehicles. 17 JAY EXPORT PVT LIMITED CALCIUM HYDROXIDE (LIMBUX) that "freed" girls would be allowed to told the AP. There were reports Boko Amina's mother, despite her tears, and the Guardian Council. not to “let terror win” and said 305.75 2,832.81 Republicans were able to draw that Mr Rafsanjani had “passed HEAVY DUTY INDUSTRIAL SAUSAGE LINE organizer, and that bringing Israel’s police chief Roni 18 ADELARIN OLAGUNJU 315.00 13,200.00 It was the 12-member council, militants would “pay a heavy ELECTRICAL REGULATORS 29/11/2016 new people into the political away after a lifetime of fighting 19 ADELARIN OLAGUNJU 315.00 30,000.00 a dominant force in Iran that Alsheich said the assailant in 29/11/2016 and constant efforts in line with price”. 20 GABROVIC NIGERIA LIMITED GLIE LAC 15,000.00 Sunday’s attack was a Palestin- 29/11/2016 315.00 interprets the constitution that “There is no limit to the cruelty 21 NGOBROS & COMPANY LIMITED MEDICAL BILLS 15,050.00 fulfilling the goals of Islam andian from East Jerusalem. 29/11/2016 315.00 of the terrorists who are willing 22 SOLTEC PRODUCTS LIMITED MEDICAL BILLS 21,600.00 the revolution”. 29/11/2016 315.00 CCTV footage showed the 23 JIMBEST AUTO SUPPLY COMPANY LIMITED CAT FISH FEED 25,000.00 to use any means possible to 29/11/2016 305.75 truck driving off the road and 24 ARS NIGERIA LIMITED BABY DIAPER RAW MATERIAL 11,800.00 murder Jews and to damage the 29/11/2016 306.25 that the Democratic Party has lost a 25 TRANSERVE DISC TECHNOLOGIES LIMITED PVC CLEAR SHEET 5,035.19 ploughing at high speed into 315.00 life routine of Israel’s capital,” ENGINE OIL 30/11/2016 come home for Christmas, she borrowed Haram threatened to sell the kidnapped still has some faith in Nigeria's actions. 26 ACHIME AND COMPANY ENTERPRISES 315.00 1,464.81 he said. RESINS MTS WHITE 1000/777 30/11/2016 27 FAS AGRO INDUSTRIAL COMPANY LIMITED 315.00 10,000.00 POLYCARBONATE RESINS 30/11/2016 28 SUNPLAST INDUSTRIES LIMITED 315.00 10,000.00 AGRICULTURAL WATER PUMPS WP 30X 30/11/2016 29 MULIKAT IBRAHIM 315.00 10,000.00 POLYPROPYLENE 30/11/2016 30 CHEMLAP NIGERIA LIMITED 315.00 10,000.00 SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK JAN 3 - JAN 6, 2017 POLYPROPYLENE HOMOPOLYMER 30/11/2016 31 W.J. BUSH AND COMPANY NIGERIA LIMITED 315.00 10,000.00 TUITION FEES 30/11/2016 32 W.J. BUSH AND COMPANY NIGERIA LIMITED 315.00 30,000.00 PVA FLAKES 30/11/2016 33 W.J. BUSH AND COMPANY NIGERIA LIMITED 315.00 10,000.00 S/N CUSTOMER NAME MIXTURES OF ODORFEROUS FOR PRODUCTION OF SOAP AND COSMETICS 30/11/201630/11/2016 lot of power during his watch... 34 W.J. BUSH AND COMPANY NIGERIA LIMITED 315.00 509,850.00 1 KAYODE OPEIFA 30/11/2016 money to reach Chibok, the town where girls into slavery, marry them off to "Anything that the government wants 35 SUPREME POLYARN LIMITED PRINTED LAMINATED PAPER 315.00 10,000.00 2 HABIBU MUHAMMED MAJE INDUSTRIAL MACHINERY SPARE PART 30/11/2016 36 INTERNATIONAL TOBACCO COMPANY PLC 315.00 7,594.00 3 OBASI OGECHI LOVELIN ITEM OF IMPORT INDUSTRIAL PACKAGING MATERIALS- VIALS 37 CELLOP 315.00 20,150.00 4 UNIVERSAL TURKEY PROJECT LIMITED TUITION FEES ACK INDUSTRIES LIMITED POLYPROPYLENE 30/11/2016 38 MARLEYSHREE PHARMACEUTICAL NIGERIA LIMITED 315.00 142,039.00 TUITION FEES SPARE PART 30/11/2016 5 ARIBALOYE OLUFEMI 39 MIMARATHON RESOURCES LIMITED 315.00 30,184.00 TUITION FEES DATE OF SALES EXCHANGE RATE AMOUNT PLAIN (NON PRINTED)RIGID PVC BLOWN FILMS 30/11/2016 6 ALZICO LIMITED 40 MTN NIGERIA COMMUNICATIONS LIMITED 315.00 9,724.00 03/01/2017 305.50 PHARMACEUTICALS 30/11/2016 7 NUUB PHARMACEUTICAL & VETERINARY PRODUCTS LIMITED PHARMACEUTICALSTUITION FEES 41 EMERGING MARKET TELECOMMUNICATION SERVICES 18,053.00 30/11/2016 315.00 TUITION FEES 03/01/2017 305.50 CUSTOMIZED MANAGEMENT SERVER AND OTHER ACCESSORIES 8 FAS AGRO INDUSTRIAL COMPANY LIMITED 16,183.00 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV 28TH - DEC 2ND ,2016 42 TRANSERVE DISC TECHNOLOGIES LIMITED 315.00 22,467.00 04/01/2017 315.00 TRANSPONDER SERVICES 30/11/2016 Page 9 MOJEC INTERNATIONAL NIGERIA LIMITED AGRICULTURAL MACHINERIES PRIME MOVERS GX AND WATER PUMP 05/01/2017 315.00 43 KENVEE NIGERIA LIMITED 315.00 13,533.00 their former boarding school is located. ghters and force them to convert to to do with Amina, I have no problem 620.00 INTERCONNECT FEE 30/11/2016 04/01/2017 315.00 44 PRAMANSONS GLOBAL COMPANY LIMITED 315.00 37,033.85 10 HADIZA ALI-DAGABANA 1,776.00 POLYCARBONATE RESINS 30/11/2016 POLYPROPYLENE 04/01/2017 315.00 45 MASHABROS &SONS LIMITED 315.00 5,372.15 11 FAS AGRO INDUSTRIAL COMPANY LIMITED 8,699.00 KITCHEN WARES & HOUSEHOLD ITEM 30/11/2016 P2000 - D THREE PHASE FOUR WIRE ELECTRONIC SPLITKEYPAD 05/01/2017 305.50 46 HANA PACKAGING LIMITED 315.00 50,000.00 12 FAS AGRO INDUSTRIAL COMPANY LIMITED 8,500.00 KITCHEN WARES &HOSEHOLD ITEM 30/11/2016 INVISIBLE 05/01/2017 315.00 47 HANA PACKAGING LIMITED 315.00 10,000.00 13 LUMAX INTEGRATED SERVICES LIMITED 16,942.40 KITCHEN WARES &HOSEHOLD ITEM 01/12/2016 05/01/2017 315.00 48 HANA PACKAGING LIMITED 315.00 12,500.00 14 LUMAX INTEGRATED SERVICES LIMITED POLYPROPYLENE LLLDPE LOTRENE Q1018H 01/12/2016 17,940.00 49 HANA PACKAGING LIMITED 315.00 400.00 15 JMG LIMITED POLYPROPYLENE LLDPE METALLOCENE RESIN 2010HE 01/12/2016 9,900.00 50 HANA PACKAGING LIMITED 315.00 40,940.00 ELECTRONICS 06/01/2017 315.00 01/12/2016 16 UlTIMATE PLASTICS INDUTRIES LIMITED 50,000.00 51 ALLIANZ LOGISTICS LIMITED HPDE RESIN - GRADE H5604F 19,351.00 06/01/2017 315.00 01/12/2016 315.00 17 ALOKRISH LIMITED ELECTRONICS 52 ST PATRICKS HOSPITAL AND MATURITY HPDE RESIN - GRADE H5615F 60,000.00 She was welcomed by the 21 girls, Islam. Chibok is a Christian enclave in with that," she said. "But I just want to 10,000.00 01/12/2016 315.00 06/01/2017 315.00 18 FRANKON MANUFACTURING CONCEPT LIMITED SOUNDPROOF GENERATOR 53 CHIZZY NIGERIA LIMITED LDPE LOTRENE FE 8000 89,420.00 9,900.00 01/12/2016 315.00 MANUFACTURING OF PLASTICS 06/01/2017 305.50 54 OLLA SYSTEMS LIMITED DREDGER 93,183.75 19 ARS NIGERIA LIMITED 9,900.00 01/12/2016 315.00 PARACETAMOL CHEMICAL POWDER 06/01/2017 315.00 55 JUDDY BOLEMA INDUSTRIES LIMITED TUITION FEES 41,792.50 20 EZINWANNE DOROTHY NNORUKA 8,197.00 01/12/2016 315.00 06/01/2017 315.00 ETHYL ACETATE 50400KG 21 CELINA COASTAL CRUST NEW MOTORCYCLE SPARE PARTS 56 KIRANIL NIGERIA LIMITED 315.00 41,792.50 21,803.00 SOFTWARE 01/12/2016 RESINS MTS WHITE 1000/777. 06/01/2017 315.00 57 GABROVIC NIGERIA LIMITED 315.00 13,520.25 22 OSUNSANYA KOREDE KOLAPO 20,000.00 POLYPROPYLENE AND POLYSTYRENE 01/12/2016 TUITION FEES 06/01/2017 315.00 58 FRANKON MANUFACTURING CONCEPTS LIMITED 315.00 10,000.00 23 OLUSOGA OLAYIWOLA VALENTINE 15,000.00 GENERAL PURPOSE POLYSTYRENE SPLARENE 01/12/2016 GLUE LAC 06/01/2017 305.50 59 JMG LIMITED 315.00 6,862.63 24 BROLLO PIPE AND PROFILE INDUSTRIES LIMITED 15,000.00 CATFISH FEED 01/12/2016 06/01/2017 305.50 60 JACLIZ NIGERIA LIMITED 315.00 16,500.00 25 NGOBROS & COMPANY LIMITED TUITION FEES NEW AUTO SPARE PARTS 01/12/2016 who tried to reassure her that her mainly Muslim northern Nigeria. see my daughter with my own eyes." 10,000.00 61 NUUB PHARMACEUTICALS &VETERINARY PRODUCTION LIMITED VETERINARY MEDICINE 315.00 20,000.00 06/01/2017 305.50 26 TUITION FEES SPARE PARTS AND ACCESSORIES FOR GENERATING SETS 01/12/2016 ACME PACKAGING LIMITED 7,911.00 62 IBRAHIM MUHAMMAD 315.00 20,000.00 HOT ROLLED STEEL SHEETS IN COIL 06/01/2017 305.50 PIPE SUPPORT MATERIAL 01/12/2016 27 CHEMLAP NIGERIA LIMITED 5,343.40 63 SALASAR ENTERPRISES LIMITED 315.00 30,000.00 BABY DIAPERS 06/01/2017 305.50 01/12/2016 10,000.00 64 OHUABUNWA GORDY ADIELE 315.00 3,973.27 06/01/2017 305.50 01/12/2016 TESTLINER 2/3 IN REELS 65 AL SAFWA TRAVEL AND TOURS LIMITED TUITION FEES 20,000.00 10,202.00 01/12/2016 315.00 PVA 11 GRANULE 06/01/2017 315.00 CLAYS FOR PURIFYING WASTE OILACTIVATED EARTH CLAY 6,543.60 66 PREMIUM SEAFOODS LIMITED 315.00 20,000.00 06/01/2017 315.0000 TUITION FEES 01/12/2016 67 BUILDERS ENGINEERING COMPANY 315.00 20,203.48 10,000.00 BANK GUARANTEE CHARGES 01/12/2016 06/01/2017 315.00 68 ALOKRISH LIMITED 315.00 15,000.00 10,000.00 LC CHARGES 01/12/2016 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK JAN 3 -06/01/2017 JAN 6, 315.00 2017 69 NUUB PHARMACEUTICALS &VETERINARY PRODUCTION LIMITED PHARMACEUTICALS 315.00 2,500.00 daughter was " ne, in good health," Binta rallied after she got a message On Friday, the Bring Back Our Girls 5,000.00 POULTRY CAGE 01/12/2016 S/N SOURCE TOTAL 70 PELICAN VALUE CHAIN SOLUTIONS NIGERIA LIMITED 315.00 19,579.62 15,000.00 PHARMACEUTICALS 02/12/2016 1 JAIZ BANK 71 MARLEYSHREE PHARMACEUTICAL NIGERIA LIMITED 315.00 10,000.00 330,360.40 02/12/2016 2 AUTONOMOUS 72 KHAIRAT PHARMACY $ VETERINARY COMPANY LIMITED 315.00 899.10 DATE OF FUND PURCHASE MECHANIZED POULTRY EQUIPMENTS 02/12/2016 SPORTS 73 MANAL NIGERIA LIMITED 315.00 2,431.90 3 AUTONOMOUS 02/12/2016 03/01/2017 74 SKYE MASTERCARD SETTLEMENT PHARMACEUTICALS 100,000.00 4 GTBANK 02/12/2016 315.00 04/01/2017 75 SKYE MASTERCARD SETTLEMENT ALBANEET 250MG (ALBENDAZOLE) 39,000.00 02/12/2016 15.00 5 AUTONOMOUS EXCHANGE RATE 76 SKYE MASTERCARD SETTLEMENT WOODEN BEAMS 10,000.00 05/01/2017 T H I S DAY 02/12/2016 315.00 6 AUTONOMOUS 305.00 • MONDAY JANUARY , 77 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 26,000.00 MONDAY05/01/2017 02/12/2016 315.00 314.50 AMOUNT 78 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 20,000.00 even though she had not been allowed from Amina in 2015. In Chibok, two movement criticized the failure to free 05/01/2017 02/12/2016 315.00 MASTERCARD SETTLEMENT 314.50 Group 50,000.00 Sports Editor 79 SKYE MASTERCARD SETTLEMENT 305.50 5,000.00 Ighalo to Decide China Move this Week 06/01/2017 MASTERCARD SETTLEMENT 02/12/2016 SPORTS 80 SKYE MASTERCARD SETTLEMENT 25,000.00 W I N T E R T R A N S F E R 305.00 48,829.86 02/12/2016 315.00 Duro Ikhazuagbe 81 SUNFLAG NIGERIA LIMITED MASTERCARD SETTLEMENT 31,697.30 314.50 Email 149,268.25 02/12/2016 315.00 [email protected] 82 PRISM STEEL MILLS LIMITED MASTERCARD SETTLEMENT 36,095.05 314.50 50,000.00 02/12/2016 315.00 83 OLUKAYODE ABA MASTERCARD SETTLEMENT 44,284.23 02/12/2016 315.00 TOTAL 939.17 YOMI ENITAN SPARE PARTS FOR TEXTILE MILL 84 UMAR HASSAN 315.00 48,692.55 SPARE PARTS FOR ROLLING MILLS 02/12/2016 8,049.32 85 WHITEX INDUSTRIES NIGERIA LIMITED 315.00 169,037.10 TUITION FEES 02/12/2016 307,086.60 86 CHIZZY NIGERIA LIMITED 315.00 52,679.71 TUITION FEES 02/12/2016 to accompany them. male Boko Harem ghters accompanied the 196 girls still missing, saying it "is 87 PAPERLAND INDUSTRIES LIMITED 315.00 ` 17,179.86 02/12/2016 Ighalo to Decide China Move this Week 88 ARS NIGERIA LIMITED CALCIUM CARBONATE SUPCAL 35,000.00 02/12/2016 315.00 Watford striker Odion Ighalo will 89 GEETA PLASTIC PRODUCTS NIGERIA LIMITED PAINT PIGMENT 35,000.00 02/12/2016 315.00 90 ECNU PHARMACEUTICAL COMPANY LIMITED UNCOATED PAPER 5,760.00 02/12/2016 315.00 Watford striker Odion Ighalo 91 ST. MAMA NIGERIA LIMITED RESINS MTS WHITE 1000/777 9,039.60 02/12/2016 315.00 will decide this week whether 92 STEADY CONTACT INTER LINKS LIMITED ARTIFICIAL RESINS, HIGH DENSITY POLYTHYLENE BLOW 15,000.00 surrounding Ighalo’s future, 02/12/2016 315.00 he will follow fellow Nigeria 93 COBEF INTERNATIONAL LIMITED DRUGS AND PHARCEUTICAL PRODUCT 20,000.00 insisting he remains with the 02/12/2016 315.00 star John Mikel Obi and take VETERINARY PRODUCTS 20,000.00 Premier League club. 02/12/2016 315.00 SPARE PARTS 15,000.00 the “crazy money” China now 02/12/2016 315.00 Human rights groups and lawyers by a teenage girl carrying ammunition justi ably worried that the Nigerian On Saturday, the 27-year-old POLY VINYL CHLORIDE RAW MATERIAL 10,000.00 offers. 02/12/2016 315.00 Ighalo played the entire game SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV. 28 - DEC. 2, 2016 10,000.00 Ighalo has long been linked 02/12/2016 315.00 decide this week whether he will follow as Watford went past Burton S/N SOURCE 5,000.00 with a big-money transfer to 02/12/2016 315.00 Albion 2-0 to reach the fourth 1 FIRST BANK 20,000.00 China and it has been reported TOTAL 315.00 round of the FA Cup. 2 AUTONOMOUS 15,000.00 there is now a renewed interest 3 AUTONOMOUS DATE OF FUND PURCHASE 2,728,880.58 He has only managed a in the striker from the Far East.goal in 17 appearances in 4 AUTONOMOUS 28/11/2016 Media reports have 5 AUTONOMOUS 29/11/2016 the league, a far cry from EXCHANGE RATE suggested he could well 6 AUTONOMOUS 29/11/2016 have criticized Nigeria's treatment of came across an elderly woman too feeble government has once again relapsed the 15 goals he netted in his 30/11/2016 305.25 partner Carlos Tevez at Shangai 7 GT BANK AMOUNT debut season in the English 314.50 Shensua after Watford rejected 8 AUTONOMOUS 30/11/2016 50,000.00 top ight. 30/11/2016 314.50 fellow Nigeria star John Mikel Obi and 9 AUTONOMOUS 44,791.46 a 38 million pounds bid for 314.50 Meanwhile, Chelsea boss 10 AUTONOMOUS 30/11/2016 483,295.50 the striker from Shangai SIPG 314.50 Antonio Conte has praised 11 AUTONOMOUS 02/12/2016 400,000.00 last year. 314.50 Mikel’s contribution to ‘The 12 AUTONOMOUS 02/12/2016 500,000.00 305.00 Shangai Shensua have 13 AUTONOMOUS 02/12/2016 500,000.00 Blues’ in the 10 years he was 314.50 now made Tevez the highest 14 AUTONOMOUS 02/12/2016 50,000.00 at the club. 314.50 paid player in the world on 02/12/2016 5,638.95 the freed girls, who are held in Abuja, to ee. to the same complacency, lethargy, and Mikel has left for Chinese 314.50 a weekly wage of 615,000 02/12/2016 197,808.86 club Tianjin Teda after he lost 02/12/2016 314.50 pounds. 1,000.00 his rst-team place on arrival 314.50 take the “crazy money” China now In the summer, Ighalo signed 787.50 of Conte at Stamford Bridge. 314.50 a new ve-year contract with 314.50 69.44 ‘The Hornets’ to cool off Conte said he believes the 200,000.00 move will be a new challenge 200,000.00 interests from China. TOTAL for the Nigeria skipper after 2,633,391.71 “Yes, it’s a possibility an eventful time at Chelsea. he could move to China,” the capital, nearly 900 kilometres (560 The girl, speaking the Chibok language inertia that has been recurrent on this “Mikel played many years one top source disclosed to with this club and won a lot. AfricanFootball.com But there is a moment you offers. Ighalo has long been linked “There should be an update want to change, get a new in this regard this week.” experience,” Conte said at a Ighalo, whose international media brie ng future remains in the balance “I wish for him and his on account of lack of goals family the best.” for the Super Eagles, spoke of miles) from Chibok. The government says that the ghters could not understand, tragedy." The Nigeria mid elder having sleepless nights beforejoined Chelsea in 2006 after he decided not to take “the controversially opting out of a with a big-money transfer to China crazy money” tabled before contract with Premier League him from China. rivals Manchester United. Watford manager Walter Besides winning all the Mazzarri has tried to avoid major honours in England, he being part of the speculations also won the UEFA Champions the girls are getting medical attention, told the woman, "I am Amina. My Amnesty International also called League and Europa League. Ighalo…aiming to join Mikel in China and it has been reported there is A J C T E N N I S Q U A L I F I E R S trauma counselling and rehabilitation. mother's name is Binta in the village for the government to "redouble its Igbinovia, Abamu MakeRanieri’s Plaudits for Musa, Ndidi Team Nigeria’s Final ListThe performances of Nigerian SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV. 21 - NOV. 25 2016 stars, Ahmed Musa and solid display in the heart of Wilfred Ndidi in Leicester mid eld as the Foxes came now a renewed interest in the striker Wilson Igbinovia was the City’s 2-1 victory over Everton understand English football S/N SOURCE from a goal down to complete surprise package at the Mohammed Ubale said in Saturday’s English FA Cup better. week-long camping of Team an important victory. display. 1 AUTONOMOUS after the team rounded third round clash at Goodison “Ndidi only trained DATE OF FUND PURCHASE Nigeria to the 2017 ITF/CAT The Leicester City manager two days with us, but he “I don’t want to focus on 2 AUTONOMOUS off training with a light left veteran manager Claudio was duly impressed with his my performance because 21/11/2016 Of cials in the government and the of Mbalala. Please tell her you saw me." efforts," warning that the abductions African Junior Championship physical exercise Sunday Ranieri impressed. showed strong character 3 AUTONOMOUS EXCHANGE RATE Zonal Quali ers scheduled to Nigerian charges and took the for me, it is always about 22/11/2016 evening. and personality. A great 4 AUTONOMOUS 314.50 Musa netted both of time to praise the duo for their the team. AMOUNT hold in Lome Togo starting performance,” Ranieri said. 22/11/2016 Ubale added that the Leicester’s goals while Ndidi, 5 AUTONOMOUS 314.50 from January 11 through sterling performances. “The team did very well 1,801.63 target for the team is to who was making his debut Ndidi, who arrived from 23/11/2016 January 21. “Musa was excellent. (on Saturday) and I think we 6 CENTRAL BANK OF NIGERIA 314.50 from the Far East. Page finish top of the medals’ on Saturday, produced a Belgian club KRC Genk, 301.58 I’ve watched him recently can go far in the competition,” 24/11/2016 On his rst invitation to refused to accept the plaudits 7 AUTONOMOUS 314.50 table despite the fact that he said. 3,613.36 national camp, the 13-year-old and I think he is starting to 24/11/2016 the tournament is taking as he instead focused on an 8 AUTONOMOUS 314.50 sealed his place in the team Leicester City has now 9,589.82 a new format with the overall impressive team 24/11/2016 quali ed for the fourth round 9 DIAMOND BANK 304.50 presidency did not respond to requests The elderly woman described the could constitute war crimes. that will be defending the introduction of team event. 5,675.99 Adeseun Replaces Ettah as of the FA Cup. 24/11/2016 top place finish by Nigeria 314.50 The team is scheduled to 1,500,000.00 at the last edition held in 25/11/2016 move to Lagos today from 305.00 Abuja almost a year ago. O’trafford Squash Club ChairmanTerry Sent off as Chelsea 8,547.00 where they will depart for 305.75 Other players that will be Lome on Tuesday. 7,148.80 in the 15-nation tournament The Group Managing TOTAL alongside the quartet of Progresses in FA Cup 50,000.00 Director of UAC and Rodot Nigeria Limited and Oyinlomo Quadri, Marylove erstwhile Chairman of 1,586,678.18 Edward, Michael Osewa and FA CUP (RESULTS) also the Chairman of HEWS Chelsea captain John Terry was O’Trafford Squash Club Foundation. David Dariwaye, who were Ikoyi Lagos, Mr Larry sent off on his rst start since M’brough 3-0 Shef’ Wed Elected alongside Mr Terry’s error will draw www.skyebankng.com named earlier at the camping Ettah has been replaced as October as the Premier Leaguescrutiny but Chelsea were in Ekiti facilitated by NTF 1st Chelsea 4-1 P’borough Adeseun at the Annual leaders overcame League One the chairman of the club, General Meeting which held impressive in responding vice-president, Yemi Owoseni Tottenham 2-0 Aston Villa having completed his tenure Peterborough in the FA Cup. to defeat at Tottenham, are Matthew Abamu, Michael on Saturday 7th of January The Blues made nine West Ham 0-5 Man City of 2 years as stipulated by are Mr Taye Ige who is now their rst in 11 matches in Ayoola, Saminu Abubakar, the Constitution and upon changes for the third-round all competitions. the Vice Chairman; Mr Cyril tie and almost trailed when Tosin Asogba, Omolade Man Utd 4-0 Readings his decision not to seek They exuded energy from Aderemi, Omolayo Bamidele Ayemere, Secretary; Mr Biyi Asmir Begovic saved Lee Wigan 2-0 N’Forest reelection at the Club’s Mabadeje, Captain, Mr Yomi the off and had 20 shots by and Rebecca Peters. Annual general Meeting Angol’s close-range header. half-time as squad players “It has been a very good Stoke 0-2 Wolves Adeyemi, Treasurer and Mr But Antonio Conte’s over the weekend. Ademola Olusunmade, such as Nathaniel Chalobah preparation for us; Ekiti West Brom 1-2 Derby side had 20 shots by half and Ruben Loftus-Cheek Elected as chairman in his Publicity Secretary. time, with Pedro’s curled has been an ideal place as Bir’gham 1-1 Newcastle stead is the club’s erstwhile impressing in mid eld. there was no distraction. In his acceptance speech, nish and a drilled Michy Treasurer Mr Remi Adeseun Mr Adeseun on behalf of Antonio Conte’s side will The courts and hotel are QPR 1-2 Blackburn who the club members Batshuayi effort giving them learn their fourth round just a minute walk. The the new executive committee a cushion, before Willian Everton 1-2 Leicester gave the mandate in an thanked the last exco and opponents in Monday’s live atmosphere is just perfect unanimous decision. drove in from 18 yards after draw on BBC Two and online stated his and the exco’s the break. for us to have a great outing Preston 1-2 Arsenal Mr Adeseun, a fellow of from 19:00 GMT. in Lome,” Nigeria’s coach, commitment to taking the Terry saw red for bringing Cardiff 1-2 Fulham the Pharmaceutical Society club to new heights. Conte felt Terry was hard of Nigeria and the Nigeria Angol down as the last man done by, claiming the decision Liverpool 0-0 Plymouth Present at the AGM were and Tom Nicholls prodded in Academy of Pharmacy is the members of the club was “not right”. the Executive Chairman of from six yards for a buoyed including the members of Posh, only for Pedro to restore But the central defender - the Board of Trustees. who was making his 50th FA a three-goal advantage from Cup start but only his eighth the edge of the box. appearance in all competitions this season. MONDAY JANUARY , •THISDAY

News Editor Davidson Iriekpen NEWS Email [email protected], MTN Kicks as Court Orders Another Forfeiture of N8bn to FG

Davidson Iriekpen of the sum of N8 billion allegedly proceeds of unlawful activity, government obtained the order, was of MTN Nigeria Communications Manager, Banking and Treasury in the belonging to MTN Communications which are stashed in account marked FHC/L/CS/1676/2016 operating account number 0012005379 employment of MTN communication Justice Abdulaziz Anka of the Limited to the federal government. number 0012005379 domicile in and filed by an Abuja-based that has a credit balance of N8 billion. limited, the applicants did not comply Federal High Court in Lagos has The judge gave the order Ecobank, be temporarily forfeited lawyer, John Opeyemi, on behalf of Maiturare also alleged that “from with the order of the court. ordered the temporary forfeiture that the sum, suspected to be following an ex-parte application Attorney- General of the Federation the totality of the credible information He specifically pointed out that to that effect filed before the court (AGF), and an asset recovery agent at our disposal, the applicants the order of the court directing the by the federal government. of the federal government, Algaita reasonably believe and satisfied that applicant to publish the ex-parte New Ghanaian President Also affected by the order of the Group Nigeria Limited. the funds in the possession of the order was not obeyed, therefore court is another account number In an affidavit sworn to by the two banks are unclaimed properties the respondent was not aware of Plagiarises Ex-US Presidents 1013607079 containing billions of Managing Director of Algaita Group or proceeds of unlawful activity the order of the court until, Ecobank naira domicile in Skye Bank Plc, Limited, Abdullahi Mohammed of stealing, diversion and money wrote a letter to the company to whose ownership has not been Maiturare, he averred that the laundering of some public officials intimate it of the said order. Akufo-Addo apologises challenged before the court. AGF appointed his company and their cronies in the private sector. Owa also averred that the subject Justice Anka further gave an as an asset recovery agent of the “Consequently if urgent steps account was opened by Ecobank Allegations of plagiarism yesterday thing with a minor adjustment. order directing the publication of a federal government to track, freeze are not taken to obtain certi ed Nigeria upon instructions given trailed the inauguration speech “I ask you to be citizens. Citizens notice in two national newspapers and recover funds and ensure it is documents of the accounts and by MTN on October 9, 2007 and of the new President of Ghana, not spectators; citizens not subjects. inviting any person(s) who might remitted to the designated bank statements thereof as well as stop that MTN has operated the account Nana Akufo-Addo. Responsible citizens building your have interest in the funds to, account of the federal government outward transactions on the accounts, since then till date in accordance with He was accused of lifting parts communities and our nation.” within 14 days of the publication through legally permissible means the funds may be dissipated and the banking practice applicable to of the speeches of United States In the second, Clinton said: of the order, show cause why a as may be directed by the AGF. account documentation or statements current account held by corporate Presidents, Bill Clinton and George “Though our challenges are final order should not be made Maiturare, a former operative may be tampered with,” he insisted. bodies in Nigeria. W. Bush in his inaugural speech fearsome, so are our strengths. forfeiting the said funds to the of the Economic and Financial But in a preliminary objection, She also claimed that the order at the weekend. Americans have ever been a federal government. Crimes Commission (EFCC), MTN Communications Limited has has adversely affected the smooth The Ghanaian president, restless, questing, hopeful people. The judge also directed that the also claimed that his company urged the court to discharge and running of the business of MTN according to The Cable, has since And we must bring to our task order should be served on the had credible information at its set aside the orders made against as it finds it difficult to utilise the apologised for the blunder. today the vision and will of those respective branch managers of disposal revealing that funds which it, as it relates to its account held funds held in the account in pursuit But how did he plagiarise the who came before us.” the respondents banks and to stop are strongly believed to be federal with Ecobank Limited. of its lawful business. US presidents? Akufo-Addo’s utterances were forthwith all outward payments government’s stolen, diverted and The telecommunications She further maintained that the In the first clip, Bush said: “I similar: “Though our challenges from the subject accounts and to laundered are hidden in some coded company, in an af davit sworn funds are not suspected proceeds of ask you to be citizens. Citizens not are fearsome, so are our strengths. immediately deliver to the court accounts in the two banks Ecobank to by a legal practitioner, Mrs. unlawful activity; therefore urge the spectators; citizens not subjects. Ghanaians have ever been a the respective statements of account and Skye bank. Ibukunoluwa Owa on behalf of court to discharge the order. Responsible citizens building a restless, questing, hopeful people. with certificate of authentication He further maintained that the company and filed before the MTN’s application to discharge community of service and a nation And we must bring to our task and other relevant documents as credible information at his disposal court by Adeniyi Adegbonmire the order was accompanied with of character.” today the vision and will of those at the date and time of service of from reliable sources, indicated that (SAN), the deponent averred that affidavit of urgency and application Akufo-Addo said the same who came before us.” the court order on them. there was an account maintained at from information delivered to urging the court to hear the case The suit, in which the Ecobank Nigeria Limited in the name him by Babatunde Adewumi, the urgently. Gambia: Buhari Hosts ECOWAS Leaders in Abuja Today

Tobi Soniyi in Abuja undertake the first phase of the preparatory and support work that In furtherance of his mandate as would lead to a high level meeting mediator, President Muhammadu of the mediator (President Buhari) Buhari will today host four other and the stakeholders. West African leaders to a meeting Buhari was designated as the in Abuja to avoid violence and mediator for The Gambia with preserve democracy in The Gambia. Mahama, the out-going President A statement by the Senior Special of Ghana as Co-Mediator at the Assistant to the President on Media just-concluded ECOWAS Summit and Publicity, Garba Shehu, held on December 17, 2016 in said Buhari and the immediate Abuja. past President of Ghana, John The summit also gave the terms Mahama as Mediator and Co- of reference to include ensuring the Mediator respectively, had also safety of the President-elect, Adama been mandated by the Economic Barrow, the political leaders and the Community of West African States entire population; upholding the (ECOWAS) to ensure the safety of result of the presidential election the President-elect, Adama Barrow held on December 1, 2016 and and ensure a peaceful handover ensuring that the president-elect of power on January 19. is sworn into office on January THANKING GOD FOR Shehu said the meeting in Abuja 19, 2017, in conformity with the L-R: Senator Solomon Olamilekan Adeola; his wife, Temitope; Lagos State Governor, Mr. Akinwunmi Ambode; his wife, Bolanle; and was a follow up to the one held constitution of the country. the General Overseer, Redeemed Christian Church of God (RCCG) Worldwide, Pastor Enoch Adeboye; and his wife, Folu, at the annual in Accra last Saturday on the The statement said Buhari thanksgiving service by the state government, at the Lagos House, Alausa, Ikeja....yesterday sidelines of the inauguration of that remained optimistic that a peaceful country’s President which expressed resolution of the problem, in line the readiness of the leaders of the with the laws and the constitution sub-region to continue the pursuit of The Gambia was possible before Ex-Niger Governor, Kure Dies of dialogue with the leaders of The the January 19, 2017 inauguration Gambia. date of the new president. “The Presidents of Liberia and The incumbent president of The State declares three-day mourning Babangida, Dogara, Wike express shock Senegal, the Vice President of Sierra- Gambia, Yaya Jammeh, after losing Leone and ex-President Mahama the election had congratulated the Laleye Dipo in Minna former governor, Alhaji Mahmud foundation member of the Peoples socio-political development of are expected at the meeting,” the winner of the election, Barrow. Abdullahi, confirmed the incident Democratic Party (PDP) and became the state and Nigeria as a whole. statement added. He however, later turned Niger State was yesterday evening on telephone to journalists. governor of Niger State for two “He has left an indelible mark In the discharge of his mandate around to reject the results of thrown into mourning following the Abdullahi said arrangements terms from1999 to 2007. on the sand of times, may his soul as ECOWAS mediator for The the election. death of the third civilian governor were already being made by the After leaving office, he became rest in peace.” Gambia, Buhari had last week He said he would challenge of the state, Abdulkhadir Abdullahi family to bring the remains of the a member of the Board of Trustees Meanwhile, the state government activated the process for the the result at the Supreme Court of Kure. former governor to the country (BoT) of the party. has declared a three-day state- execution of his task. The Gambia and that he would Kure was said to have died in for burial. Kure was a member of the wide mourning, according to a The president had instructed the organise a new presidential election. Germany yesterday afternoon Born on February 26, 1956, Senator Ahmed Makarfi faction statement by the Commissioner for Minister of Foreign Affairs, Geoffrey The world has condemned where he was flown to three Kure is survived by wife, Senator of the party. Information, Culture and Tourism, Onyeama, to lead a Mediation Jammeh’s decision and had called weeks ago for medical attention. Zaynab Kure, six children, four A devastated state Chairman of Mr. Jonathan Vatsa. Support Team (MST), working on him to step down. According to family sources, boys and two girls. He was the the PDP, Alhaji Tanko Beji, described He further stated that all flags with the team of the Co-Mediator, ECOWAS leaders had earlier the former governor was taken Director of Engineering Services in the demise “as sad,” adding that should be at half mast through out Mr. John Mahama, the out-going travelled to the Gambia to plead to Germany for a kidney-related the Federal Capital Territory (FCT) “we cannot query God.” the state through out the mourning President of Ghana. with Jammeh to hand over but he ailment. before joining politics. Beji said the late governor period. The main task of the MST is to turned down their request. The Chief Press Secretary to the The late governor was a contributed immensely to the Cont’d on page 51 MONDAY JANUARY , •THISDAY NEWS THE PRESIDENCY INVITATION TO TENDER Brass Fertilizer and PREAMBLE: 1. The Nigeria Extractive Industries Transparency Initiative (NEITI) is inviting interested, reputable and competent companies with proven record to tender for the supply of the following goods: Petrochemical Company Signs Lot Description of Items Quantity Number Lot 1 Supply of Laptops 25 pcs $6bn Agreement with BP Oil Lot 2 Supply & Installation of Office Furniture ( Tables & Chairs) i. Office Tables 20 pcs ii. Office Chairs 30 pcs A major breakthrough has been the project developers. Okoye explained that the 2. Bidding will be conducted through the National Competitive Bidding (NCB). recorded in the development of Okoye further described Brass Fertilizer project has been 3. MANDATORY REQUIREMENTS: the rst phase of the $4 billion the agreement as a signi cant designed to accommodate the a. Evidence of registration with Corporate Affairs Commission (CAC). Brass fertilizer project, as Brass milestone in the development yearning of the Niger Delta b. Current Tax Clearance Certificate. c. Valid/Current Certificate issued by the National Pension Commission as evidence of compliance with Pension Reform Act Fertilizer and Petrochemical of the project, as it paves the people through the provision (PRA) 2004 as amended. Company Limited (BFPCL) way for nancial close on of employment and creation of d. Evidence of registration on the Bureau of Public Procurement (BPP) National Database of Contractors, Consultants and recently signed a $6 billion Phase 1 of the Brass Fertilizer business opportunities. Service providers. e. Current and Valid Certificate issued by the Industrial Training Fund as evidence of compliance with (ITF) Act (Amended) 2011. off take deal with BP Oil project. The project will employ f. For Lot 1 evidence of registration with Computer Professionals Registration Council of Nigeria International Limited. The project is designed about 15,000 workers during The contract which was to be built in two phases construction and 5,000 directly 4. OTHER REQUIREMENTS a. Financial Capability: Company Audited Accounts/Financial Statement for the last three (3) years, viz., 2013, 2014 and 2015, signed at the London of ce and phase one which is and indirectly during operation. to demonstrate the financial capability of the Bidder in terms of profitability and adequate working capital. of BP Oil International on expected to come on stream It will bring signi cant b. Verifiable list of similar supplies/jobs successfully delivered/completed in the last three years including letters of contract December 22, 2016, is for in 2020, will produce 1.66 infrastructure development award or job completion certificate (Please provide contact address of the clients). c. A sworn affidavit obtained from a court of competent jurisdiction confirming that all information, presented and attached are exclusive off take of methanol million metric tonnes (MT) into the region and attendant true and correct of the company and that no officer of NEITI is a former or present Director, Shareholder or has any pecuniary production from phase 1 of of Methanol and 1.3 million multiplier effect on the national interest in the bidder. the BFPCL project in Brass, MT of urea per annum. economy. d. Documents to be submitted in fulfillment of the mandatory and other requirements should be arranged in the order listed above. Bayelsa State, over a period Phase one also includes a Speaking further at the e. Tender documents should be paginated with table of contents indicating the pages on which items are to be found. of 10 years. The agreement dedicated export jetty and a occasion, Okoye expressed his is a key condition precedent 300mmscf/d gas processing appreciation of the business 5. COLLECTION OF TENDER DOCUMENTS a. A complete set of Standard Bidding Document in English Language in a CD ROM may be purchased by interested bidders for securing the foreign direct plant. The project has also relationship with BP and upon payment of a non-refundable fee of Ten Thousand Naira Only (N10, 000.00) per LOT through the REMITA investment from the project secured 25 years 300mmscf/d disclosed that the shareholders Platform in favor of the Nigeria Extractive Industries Transparency Initiative (NEITI). Receipt should be gas supply from the Shell of BFPCL are poised to meet collected from the Accounts Department on successful payment and presented to the Procurement unit for collection of the lenders and international tender documents. investors. Petroleum Development imminently to approve the Speaking at the signing Company of Nigeria Ltd project EPC contractor and to b. Interested/eligible bidder may obtain further information from and obtain bidding documents between the hours of 9.00a.m. th (SPDC-JV). take decisions on the project to 5.00 p.m. Monday to Friday, except on public holidays at Nigeria Extractive Industries Transparency Initiative (NEITI) at 4 ceremony in London, Chief Floor, Murjanatu House,1, Zambezi Crescent, off Aguiyi Ironsi Street, Maitama-Abuja. Ben Okoye, executive vice The Brass Fertilizer nancial close. chairman of BFPCL, stated plant is located in Brass The signing ceremony 6. SUBMISSSION OF BIDS: th Island, Bayelsa State and on was witnessed by the top a. Bids must be delivered to the address below on or before 12 Noon on Monday, 20 February, 2017. Bids via electronic that attracting a major means will not be allowed. Late bids will be rejected. international player like completion is expected to management of Brass Fertilizer, BP bears testimony to generate an annual turnover BP Oil International, White and b. Bids must be submitted in separate sealed envelopes, duly marking the envelopes as “ORIGINAL” and “COPY.” These of $1.5 billion. Case LLP of UK and Taylor envelopes containing the original and the copies shall then be enclosed in one single envelope clearly marked as appropriate the tremendous support e.g “ LOT-1 Supply of Laptops” OR LOT-2 Supply & Installation of Office furniture (Tables & Chairs)” delivered & addressed to : for the project by the The project is extremely DeJongh, UK. The Executive Secretary, Attention: Procurement: Nigeria Extractive Industries Transparency Initiative (NEITI), 4th Floor, current administration, the strategic to the country’s The BFPCL team was led Murjanatu House, No.1,Zambezi Crescent off Aguiyi Ironsi Street, Maitama-Abuja. agricultural and industrial by Okoye while the BP team Nigerian National Petroleum 7. CLOSING AND OPENING OF BIDS: Corporation (NNPC) and sectors. It will contribute to was headed by John Goodridge, Bids will be opened immediately after submission deadline by 12.15 Noon on Monday, 20th February, 2017 in the the Central Bank of Nigeria the country’s self-suf ciency in BP’s Head of Marketing and presence of bidders' representatives who choose to attend at the NEITI Conference Room, 4th Floor, Murjanatu House, No.1, (CBN), as well as the hard fertilizer and Methanol based Origination, Europe, Africa Zambezi Crescent off Aguiyi Ironsi Street, Maitama-Abuja. work and commitment of industrial raw materials. and Russia. Signed The Executive Secretary THISDAY MONDAY JANUARY , THISDAY • NAY, JANUARY ,

Editor, Editorial Page PETER ISHAKA COMMENT Email [email protected] INDUSTRIALISATION, REGIONAL INTEGRATION AND AGENDA 2063 Industrialisation and integration are critical enablers for Africa’s transformation, writes Amina Mohamed

frica needs to accelerate the pace of industrialisation to to our own common challenges. encourage broad-based growth. Africa’s growth has been Infrastructure investment is a critical enabler of integration. Reduc- impressive over the past 15 years, picking up from an ing tariffs and easing legal restrictions on movement are crucial, but average of around 2% during the 1980s and ‘90s to just insuf cient. To boost integration and trade, dramatic improvements in above 5% between 2001 and 2014. Growth has, however, Africa’s connective infrastructure are needed. This includes not only dipped to just below 4% since 2014, largely in response investments in transport networks, but also those that create shared toA a global decline in commodity prices. This illustrates the continent’s infrastructure to facilitate trade and exchange, such as investments in continuing dependence on commodity demand, and highlights the need information and communications technology and regional markets for for it to strengthen its economic base through further industrialisation. services – energy pools that allow power plants to distribute energy Currently, Africa accounts for less than 2% of global manufacturing, across multiple countries, for example. The African Development Bank while manufacturing has been stagnant or declining as a percentage of estimates that there is an annual nancing gap of $50 billion to meet GDP in all but a few countries. sub-Saharan Africa’s infrastructure needs. Closing it will require draw- Regional integration must be a core component of industrialisation. ing in greater private sector investment. One way to do this is make Among the various pathways to industrialisation – strengthening demo- more strategic use of development nance and support. Investors often cratic institutions and ensuring transparent and accountable governance, bemoan the lack of investable or ‘bankable’ infrastructure projects on for example – regional integration is one of the most underutilised. the continent. While there are several facilities available to assist inves- While manufactured goods make up only around 20% of Africa’s total tors with the costs of identifying and preparing projects, awareness exports, they make up around 60% of trade between African countries. of these is low and facility design is often ill- tted to investor needs. This highlights the opportunity that Africa represents as a buyer of its There is a need to better match facilities with investors through initia- own manufactured products – especially those that are costly or dif cult tives like the Infrastructure Consortium for Africa’s Project Preparation to import from more far-ung regions. Still, despite some improvements Facilities Network (PPFN) which aims to increase reach, collaboration in opening borders, the continent remains highly fragmented – existing and learning among support providers on the continent. New nancial intra-regional trade levels are the lowest in the world - and the potential instruments can also help alleviate risk aversion in private investors. for intra-African trade largely untapped. For example, a truck delivering For example, the Asian Development Bank (ADB) in partnership with goods to supermarkets across borders in Southern Africa can be expected the India Infrastructure Finance Company Ltd. (IIFCL) has created to carry up to 1600 documents to satisfy various legal requirements. a $128 million “project bond guarantee facility” that raises the credit Further, visa regulations make it harder for Africans themselves to rating of infrastructure bonds by absorbing a portion of risk. travel within Africa than for North Americans or Europeans, and limit This free movement of goods and people will only become a reality visits and exchanges that encourage trade. Restrictions like these make when we build links across the continent: roads, railways, airports, intra-regional trade in Africa the most expensive in the world – costs are the ports that will allow us and our goods, services and capital to 50% higher than in East Asia, for example – and, in many instances, move seamlessly around the continent. We already have taken steps create a situation where Chinese or European markets are ‘closer’ to in this regard. The Yamoussoukro declaration is a good example many African countries than their neighbours. that if implemented, would transform air travel within the continent We also need to open our borders more to give opportunity for our by making our air space open and more accessible, affordable and, people to work across borders. Free movement boosts our economies facilitate the movement of goods and people. We recently launched the and helps to transfer skills, knowledge, technology and best practice. AU passport which we should all fully embrace and roll out. It encourages better understanding among ourselves and reduces the The call for industrialisation is not new for Africa, but we must now tendency for conict; it enhances integration, which is at the core of the heed it in a different way. Global markets will play their part, but we African Union itself. must not forget the opportunities that lie on our own doorstep. Let us But if you think of it, our people have always migrated. The Bantu clear the way for them. people are today part of the cultural diversity of East and Central Africa must take responsibility for the growth of its own economy Africa. The Nilotic people are found right across the horn of Africa and institutions. We have the means and the capital to do so. Africa’s and the beautiful Mande people in West Africa stretch from Chad to REDUCING TARIFFS AND EASING LEGAL nancial challenges are not only lack of funding but also lack of Mauritania. It has enriched our culture for centuries. It is the bedrock of RESTRICTIONS ON MOVEMENT ARE CRUCIAL, effective, inclusive and optimal use of available resources. In Agenda our common African identity. I am also convinced that we have not fully BUT INSUFFICIENT. TO BOOST INTEGRATION 2063, we now have a blueprint that guides our development path for exploited the Africa Youth Volunteer Exchange Programme that can be the next 50 years. scaled up and used to give young Africans the opportunity to experience AND TRADE, DRAMATIC IMPROVEMENTS IN Amb. Mohamed is the Cabinet Secretary for Foreign Affairs other cultures and countries, open their eyes to new opportunities and AFRICA’S CONNECTIVE INFRASTRUCTURE ARE and a Kenya’s candidate for the position of Chairperson of the help them learn that we as Africans can work together to nd solutions NEEDED African Union Commission

SENATE, SGF AND THE GRASS CUTTERS Dauda Aliyu Hanga writes that the contract for the removal of invasive plants was executed

he testimonies of people we met and approval for the award of contract for the Removal displaced by Boko Haram insurgency. resigned from all the companies simultaneously. the evidence before our CSO group of Inversive (sic) Plant Species along River channels During the course of our investigations with Our goal was to nd out if indeed any work proved conclusively that it was a and 115 Hectares of Simpli ed village Irrigation PINE, we were made to understand that Rholavi- has been done at all. Remember that the work worthwhile contract that was executed Operation in Yobe State to your company at the sion Engineering Nigeria Limited was co-opted in question is the intervention by PINE within to the bene t of the people. total cost of N272,524,356.02 only, inclusive of 5% into the project as consultants based on their past the Hadeja-Nguru wetlands, spanning an area There have been public outcry, VAT with a completion Period of Three weeks.” successful work in the North-east. They provided of 3,500 square kilometre, made up of 12 local Tsocial media memes and even protest following We reliably gathered that a major director in the veri able evidence showing that the company had governments from three states (Yobe, Jigawa, and the Senate’s subtle indictment of the Secretary company above has a twin brother who is working been engaged in the clearing of the thypa grass Bauchi). The intervention work involves manual to the Government of the Federation, Babachir as a personal assistant to one of the senators. We from the Hadejia/Jamaare River Basin in 2013, a channel removal of aquatic weeds (typha and David Lawan, for corruption and misapplication of could not ascertain if the senator has any direct contract they executed for the African Development others), simpli ed irrigation scheme, provision of Presidential Initiative for North East (PINE) funds. interest in the rm or contract. Again, we found Bank (ADB). motorised and manual boats, and construction of I initially also joined the frenzy, fumed, and vowed out from the document from PINE that Rholavision Our ndings revealed that corruption which usu- water control gates. to join a street protest to force the federal govern- was not the main contractor that got the job. ally trails federal contracts channeled to states is at CATBAN alongside the local NGOs went ment to take decisive action against those involved Rholavision was engaged only as a consultant the heart of this crisis. We found out that some of- to the Likori bridge in Marma Channel on the in the diversion of funds meant for the internally even though the Senate Committee created the cials of one of the states in the region do not want Hadejia River. We found the rst project sign post displaced persons (IDPs). impression that the company of the SGF executed PINE contracts awarded to independent companies, which consists of the contractors’ and consultants’ Having spent several years in both public service the contract. but rather that the funds from PINE should be details. In order to see for ourselves the level of and civil society, and participated in almost all The letter from PINE was titled: “Award of Con- allocated to their states through them directly. We improvement as a result of the invention work, protests and peaceful demonstrations to champion tract For The Engagement of MSSRS Rholavision understand this is why one of the state government we took a boat down into the water canals that the cause of a common man, my conscience is Engineering Limited As A Consultant” and reads: of cials speci cally told the Senate Committee that were previously overgrown with thypa grass. We always the guiding light of my actions. Being an “I wish to convey to you the approval for award PINE had not done anything in their state despite paddled towards Burwa Fadama under Kabak active member of Citizens Action to Take Back of contract to you as a Consultant on Removal of our on- the- spot assessment which showed clear community which subsequently led down Nguru Nigeria (CATBAN), I decided to join other NGOs Invasive Plant Specie along River Channels and 115 evidence of clearing/evacuation of invasive plant Lake. It was at that point we gathered that at that for a fact- nding mission in the North-east. Hectares of Simpli ed Village Irrigation Operation species and irrigation operation on 115 Hectares of part of Marma channel some communities were Documents at our disposal indicate that the in Yobe State at the cost of N7,009,516.96 only, land. We have video evidence and pictures to show wiped out. Examples of such communities are contract was clearly stated as: “Award of Contract inclusive of all taxes, for the period of six Weeks....” the state of the invasive plants in the river channels Kakayau village, Matara Gari Gana, Duwa Kaku. For The Removal of Inversive (invasive) plants The letter was also signed by Aminu Ahmed, (head and the newly cleared channels. There is also Also down the Marma Channel within Yobe State, along River Channels & 115 Hectares of Simpli ed of procurement, PINE). evidence of the list of those who participated in the communities like, Sabon Gari, Araro, Maja Kakori, Village Irrigation Operation In Yobe State”. The From the foregoing we were able to verify even project and bene ted from the work. etc., were also wiped out. documents showed that the contract was not from the documents that the contract in question Facts available to us showed that Mr Babachir The Duke of Edinburgh, Prince Philip, was said awarded to Rholavision, the company linked to has nothing to do with grass cutting at any IDP Lawal actually resigned from Rholavision Engineer- to have visited Yobe and Jigawa States in 1988 in the SGF. It was awarded to Josmon Technologies camp, but of course it was to clear invasive plants ing and all other companies he had shareholdings trail of birds from the Palace in England and spoke Limited with address at 9, Moputo Street, 3rd in River Channels which will aid the rehabilitation in, through his letter of resignation addressed to about the thypa grass. CATBAN can assert with Floor, Fames-Jal Plaza, Wuse Zone 3, Abuja. The of IDPs by enabling easy ow of water through the his lawyers, D. D Azura & Co, Suite C7/8 Bensima authority that the contract was indeed carried out. letter of award of the contract with the title stated channels to help shing activities, enable proper House, Plot 2942 Cadestral Zone A6, off Aguiyi The claims that it was meant to clear grass in IDP above, which was signed by Aminu Ahmed, (head irrigation for farming activities, and eliminate Ironsi Street, Maitama, Abuja on August 28, 2015. camp or that nothing has been done are nothing of procurement PINE) states: “I wish to refer to ooding for the communities during rainy season, Facts revealed he was a director to eight other but unfortunate lies. your quotation on the above subject and convey when they return home from the camps after being companies (Rholavision Engineering inclusive) and Hanga is Director of Mobilisation at CATBAN THISDAY • NAY, JANUARY , EDITORIAL BUHARI’S CONDITIONAL CASH TRANSFER It is a worthwhile project if well implemented

n fulfilment of its campaign promise, the of the programme designed with the specific purpose administration of President Muhammadu of enabling mothers to access healthcare to have their Buhari has commenced the payment of N5,000 babies, was ever met. monthly stipends, targeted at supporting one To the extent that it is the responsibility of government million of the most vulnerable and poorest to adopt strategies for meeting critical challenges, this Nigerians under social investment scheme. Bank initiative is worthwhile if implemented faithfully. Because accounts have already been opened for all the of the prevailing poverty in many of our rural communi- beneficiaries in the pilot states and three banks ties, in some of our urban slums and in the absence of have been enlisted to ensure that payments are effected what the government should ordinarily avail its citizens Ito the beneficiaries within their communities and at no (as of right), such social interventions can make a whole additional cost to them. world of difference if implemented well. We also believe While we commend the initiative, we hasten to point that there cannot be a better team for its implementation out that the idea of conditional cash transfer has been than the one being led by Mrs Maryam Uwais. tried in the past under various schemes with unpleasant tales after hundreds of billions of naira had been wasted. et as lofty as this initiative is, as with everything For instance, under the past administration of President in Nigeria, we believe it could easily be hijacked Goodluck Jonathan, there was a programme called by politicians in the ruling All Progressives Con- SURE-P, which was a response to the public demand gress (APC) as was the case in the past, thus for judicious utilisation of the savings from the partial defeatingY its purpose. Under previous administrations, removal of petrol subsidy at the time. At the end of the the cash transfer process became a mere cash transfer day, SURE-P did not make any impressive impact on the system to the private pockets of a select few. There was life of Nigerians. THISDAY ambiguity in the system of determining the conditions It is particularly EDITOR JA NUU that should be met, while accountability was a grave THE GOVERNMENT’S DEPUTY EDITORS AJ AY, J UA noteworthy that the MANAGING DIRECTOR NA challenge. It became essentially money to be shared for EXPLICITLY STATED DEPUTY MANAGING DIRECTOR AY A conditional cash CHAIRMAN EDITORIAL BOARD UUN ANY political patronage. OBJECTIVES THAT transfer component EDITOR NATION’S CAPITAL YA UUARN That the programme is being implemented in QUALIFICATION AND under the SURE-P conjunction with some development partners such as the SELECTION FOR ANY OF THE was the Midwifery World Bank, Department for International Development PROGRAMMES WILL NOT Service Scheme (DFID), the Bill and Melinda Gates Foundation, African BE BASED ON PARTISAN, (MSS). It was THISDAY NEWSPAPERS LIMITED Development Bank and UNICEF gives it a measure of ETHNIC OR RELIGIOUS designed to tackle EDITORINCHIEF/CHAIRMAN NUA ANA credibility. But that is not enough. It is important that GROUP EXECUTIVE DIRECTORS NA , AY A, AFFILIATIONS MUST BE maternal deaths in RA U, ANU N, JA NUU the federal government’s explicitly stated objectives that STRICTLY ADHERED TO. the country which GROUP FINANCE DIRECTOR U ARA qualification and selection for any of the programmes are traceable to DIVISIONAL DIRECTORS R U, A, will not be based on partisan, ethnic or religious affilia- AYAN ANAA, ANNY N lack of accessible, acceptable and affordable primary, DEPUTY DIVISIONAL DIRECTOR JUN R ANY tions must be strictly adhered to. secondary and tertiary health care, lack of drugs, dearth SNR. ASSOCIATE DIRECTOR R J All factors considered, we believe that this is ASSOCIATE DIRECTORS NRY NAR, A AY of skilled personnel, lack of access to skilled birth at- CONTROLLERS AA A, UNNA AU, NUA R worthwhile initiative. If the necessary safeguards against tendants; lack of consumables, medical equipment, poor GENERAL MANAGER AR U corruption and cronyism are entrenched, this incentive referral linkages in our hospitals; poor transportation and GROUP HEAD UA may well improve on our appalling poverty indices, as ART DIRECTOR UAU general lack of access to basic emergency obstetrical care. DIRECTOR, PRINTING PRODUCTION U NUNJ has been proved in so many developing countries. There is nothing on ground to suggest that the objective TO SEND EMAIL: first [email protected]

TO OUR READERS Leers to the Editor Le ers in response to speciﬁc publications in THISDAY should be brief (- words) and straight to the point. Interested readers may send such le ers along with their contact details [email protected] . We also welcome comments and opinions on topical local, national and international issues provided they are well-wri en and should also not be longer than ( - words). They should be sent [email protected] along with the email address and phone numbers of the writer.

TECHNOLOGICAL ADVANCEMENT AND CODE LAGOS INITIATIVE

lobally, from elementary school to post graduate knowledge would only be an aid in the technological quest of a a universal digital language and provide solutions to myriad of level, students are increasingly getting acquainted nation. socio-economic problems confronting the society. According to with the basics of coding. Coding, in this respect, In the United States, both Silicon Valley heavyweights and him, with the new concept, Lagos State “has joined the league is another name for computer programming. the federal government had backed an initiative called Hour of of technology-compliant nations” that had recognised the These days, governments, educators and tech Code, which promotes computer science and STEM education in importance of harnessing the power of technology for the success industry advocates argue that it has become the country. In 2014, Singapore introduced programming lessons of their nations and nation-states. Gcrucial to hold at least a basic understanding of how the devices in its public elementary schools to boost the country’s economy. Coming on the heel of another recently initiated programme, that play such a large role in modern life actually work. These two and many others have recognised information technol- tagged Eko n Keko (Lagos is Learning), Lagos State is, no doubt, Computer programming or coding is the process of designing, ogy to be a strategic catalyst for getting competitive advantage in a hurry to use education as a veritable tool of socio-economic writing, testing, debugging and maintaining the source code of for their children and citizens generally. development. The thinking of the current administration in Lagos computer programmes. This source code is written in one or Considering the relevance of computer coding skill in contem- State is that the much popular mantra of Itesiwaju Ipinle Eko more programming languages with the purpose of creating a set porary world, the Lagos State Government in collaboration with ( The Progress of Lagos State) cannot come to fruition without of instructions that computers use to perform speci c operations organisations such as SystemSpecs, Google, SAP and Praeklt a solid foundation for children in quality formal and trending or to control something or even for animations. is planning to progressively introduce software programming education. Adding coding to the school curriculum is not only a According to computer experts, the knowledge of coding is classes into public schools. The aim is to give students an op- legacy worth bequeathing to our children but a project govern- important not only to individual students’ future career prospects, portunity to write code in a classroom setting. Obviously, this is ments across the nation must of necessity embrace without delay. but also for their countries’ economic competitiveness as well as the fence that divides technologically powerful cities and African Beginning from April 2017, Code Lagos centres are to be the ability of technology industry to unearth quali ed personnel. countries especially Nigeria in a world that is becoming ever launched in 500 primary, secondary and tertiary institutions In our technologically enhanced world, people with excellent more tech-focused. It is that divide that Lagos State Government (private and public) across the state, as well as in all public computer skills are most likely to have an edge over their less is making efforts to cross with its recent unveiling of “Code libraries and ICT spaces. There are also plans to enable interested computer literate colleagues when seeking employment. Lagos’’ computer programming initiative. This initiative is part of parties log into the Code Lagos website and learn to code at their Currently, the era of using long hand, when secretaries the bid to make Lagos State a technology frontier, and is also in own pace. For this the government is set to commit funds to set are expected to type for their bosses had gone for good. So, line with the smart city agenda of the current administration in up over 1,000 coding centres across the state. The ultimate goal is possessing a good understanding of a range of computing skills the state. for one million students in the state to have access to the coding is increasingly important. Consequently IT skills and capability Speaking recently at the unveiling of the initiative, Lagos system by the year 2019. This is to prepare them for opportuni- developed by the subject at school are just as important if not State Governor, Mr. Akinwunmi Ambode stated that the ties that would arise, as the state’s technology capacity increases. more relevant than a good mastery of English and Mathematics. primary aim of the initiative “is to meet the growing demand for Rasak Musbau, Ministry of Information and Strategy, The skill of programming may be complex to learn but a basic technical skills” so as to develop a workforce that would speak Alausa, Lagos MONDAY JANUARY , THISDAY THISDAY • MONDAY, JANUARY , Group Politics Editor Olawale Olaleye Email [email protected] POLITICS SMS ONLY MONDAY D ISCOURSE The Sole Administrator It is going to be three years this year since the Osun State Governor, Mr. Rauf Aregbesola, has run the state without a cabinet, leaving him the sole administrator. In this report, THISDAY Politics Desk examines the state of the state and her reckless leadership. Additional reports by Yinka Kolawole

Aregbesola displaying a sample of the opon imo tab, one of the projects believed to have cost the economy dearly and completely extraneous to the needs of the people

t is the rst of its kind in the history streets. This unpleasant circumstance would later democratic governance in the state as he now Coalition for the Emancipation of Osun State of the country. A democratically elected be made worse by the hard biting recession, solely runs the state, almost three years since his (CSCEOS) lambasted Aregbesola for ruling the governor has suddenly turned around occasioned by their change administration. re-election, thus setting an entirely new record state like a sole administrator for over two years to make himself the sole administrator Although Aregbesola managed to scale through in democratic governance. now, adding that the non-constitution of his of his state. For this governor, Mr. Rauf his re-election in 2014 despite his man-made In what is best described as none other but cabinet has been seriously affecting the growth, Aregbesola, it is however not the rst failings, he has further changed the focus of autocracy, he now solely conceives ideas and development and progress of the state and time he would dare a thing of this nature and policies, analyses them by himself, opens up advised him not to waste the precious time getI away with it. When he rst assumed of ce bids for contracts, awards them to whoever he of the good people of the state in appointing in November 27, 2010, he would not constitute pleases, executes them all by himself, without his cabinet members. his cabinet until almost over a year after he Perhaps, his feeble and as much anyone engaging him in a debate of He also expressed worry about the kind of was sworn in. His excuses then were yet a constructive alternative views. He is suddenly an persons that people the State House of Assembly, familiar tirade. deceptive ideological omni-administrator with preternatural tendencies whom he described them as toothless bulldog. He He’d sold the idea that his predecessor, leaning is more to foresee challenges and needs of the state and declared his organization’s support to the recent Olagunsoye Oyinlola, who was thrown out by contain them pronto. move by the Upper Chamber of the National a court to pave the way for his governorship important to the media Unfortunately, he’s used to getting away with Assembly in proposing to amend the amended had practically run down the state and as such, this administrative anomaly because of assumed 1999 Constitution to compel the Federal and there was a compelling need to embark on a than the actual content media conspiracy to shield those they want to State Executive arm of government to constitute nancial re-engineering of the state. He sold the of his character, both as shield and expose those not in their good books. their cabinet within two months of assuming idea in a most strategic manner. He even went Perhaps, his feeble and deceptive ideological of of ce, urging the federal legislators not to round some major newspaper houses for their a person and governor. leaning is more important to the media than drop the idea. buy-in into what he chose to call his unusual And without much the actual content of his character, both as a He maintained that the nancial crisis excuse approach to governance. person and governor. And without much ado, of Aregbesola was not tenable in the eyes of He described his vision in the most hyperbolic ado, he’s failed to live he’s failed to live up to billings as far as his morality and constitutional democracy, saying language, selling the impression of one with a governorship is concerned and could leave of ce the man-made nancial crisis facing the state was very sound mind and an avid reader of books, up to billings as far more as a disappointment than reveling in the as a result of Aregbesola’s poor management with some Marxist upbringing. He though often as his governorship is kind of goodwill that ushered him into of ce of funds accrued to the state from the Federa- sounded pedantic during most of his ‘lectures’; by the stroke of judicial intervention. tion Account, explaining that the governor has he mostly got away with a lot of this twaddle concerned and could A civil rights leader in the state, Comrade contradicted the provision of the amended 1999 because of his perceived ideological leaning. leave ofﬁce more as a Adeniyi Alimi Sulaiman recently condemned the Constitution of Federal Republic of Nigeria as But it didn’t take long before he squandered governor for the non-constitution of members of enshrined in Section 14 and 192 to 196, where his goodwill. Soon, the truth about his person disappointment than the State Executive Council (SEC) for over two the state should be governed with the principles and capacity to govern started to manifest. (2) years of his second term in of ce, urging the of democracy, social justice and fairplay. He no longer could sustain a majority of his reveling in the kind of State House of Assembly under the leadership A member of the opposition Peoples Democratic projects or retain many of his employees across goodwill that ushered of Speaker Najeem Salaam to commence an Party (PDP), Mr. Kasali Oloyede remarked that his many O’Yes creations. The nances of the impeachment process against the governor for Aregbesola’s action should be investigated for state took a downward slope and everything him into ofﬁce by breaching the Constitutional provisions and the running the state as if his personal estate. The became stagnant with a frightening debt pro le. Oath of allegiance to the Constitution of the PDP man contended that EFCC and ICPC should At a point, things became so bad in the state the stroke of judicial Federal Republic of Nigeria. that poverty could be seen literally walking the intervention Sulaiman, who is the Chairman, Civil Societies CONT’D ON NEXT PAGE THISDAY • MONDAY, JANUARY , POLITICS MONDAY DISCOURSE

THE SOLE ADMINIST R ATOR step into Aregbesola’s running of the state as salaries, allowances, pensions and gratuities of a sole administrator. He also wondered why State workers while a sum of N23,887,975,810.26 Aregesola did not constitute the cabinet as a was requested to offset the outstanding arrears way of spreading the dividends of Democratic of salaries, allowances, pension and gratuities governance. of local governments workers in the state. Unfortunately, the CBN only approved and The Transformation of Aregbesola released N25,871,920,000 to cover just salaries Aregbesola is the fourth democratically elected and allowances of workers, leaving out pension governor of Osun State noted for hard work, and gratuities while only N9,117,070,000 was resilience, humility and sincerity of purpose. A approved and released by the CBN for arrears one-time lively and bubbly character, he soon of salaries and allowances, also leaving out local became what he was not before assuming of ce. government pension and gratuities just as it Many strange things started happening in the was done for their counterparts in other states. State of the Virtuous. The sobriquet of the state To further display a high level of transparency in was changed from State of the Living Spring to the disbursement of the loan, the state government State of the Virtuous without much ado from and the labour unions agreed to supervise the the citizenry, because the change did not affect disbursement exercise. And in line with the the price of staple food. CBN guidelines, an apportionment committee Recent changes are indeed mindboggling headed by the rst NLC President, Sunmonu, because they are not only affecting the price with labour unions and other stakeholders was of sh; they are also threatening the very essence set up to monitor the fund and the revenue of social coexistence in the state. The Governor from other sources. also prefers to go by the name Ogbeni, dropping This, no doubt, afforded the labour unions the title: ‘His Excellency’. He said he was not and relevant stakeholders the opportunity to excellent and has refused to appoint a team of monitor all transactions as attested to by labour cabinet members to help deliver on his promises, Aregbesola during one of his budget presentations to the state assembly unions and bankers involved in the disbursement. yet he is doing it all alone? He is the only one But in spite of the fact that pensioners were who deals with problems, formulates policies, state and local governments to investigate how the state’s Revenue Apportionment Committee not captured in the fund released to the state, disburses funds and also implements them all. the Aregbesola administration spent the N35 headed by labour veteran comrade, Hassan Aregbesola ensured that both the state and local But he didn’t also factor into the reality that billion bailout funds disbursed to the state for Sunmonu, making it possible for the state to government pensioners bene ted from the fund. power corrupts and absolute power corrupts the payment of workers’ salaries and pension pay salaries till February of 2016. It may not be correct, therefore, the assumption absolutely. This, of course, explains the state due. The committee was slated to arrive in the He said the arrival of the Paris Club deductions that the governor mismanaged the funds. Of all of Osun today. state on December 7, 2016. refunds which made N11.7bn available to the the bene ciary states, none is believed to have His refusal not to appoint cabinet members is While welcoming all the investigative agen- state has also brought some relief, noting that transparent and open management system of better put in perspective. What are its implications? cies, including the Senate Chairman, Senator the state would still need to intensify its efforts the fund as Osun. Some people are saying that the governor’s Abdullahi Gumel and his members to the state, towards self-sustenance. There are strong indications that the Osun refusal to appoint cabinet members in his second the civil society groups urged them to ensure government has demonstrated a high sense of term is as a result of the poor performance of unbiased, credible and thorough investigation …As Government Reacts responsibility and transparency in the application his cabinet in his rst term. Keen watchers of into the alleged nancial mismanagement of the In its wisdom, the government has described of the funds and as at November 30, 2016, the his administration are also of the opinion that funds accrued to the state from 2011 to 2016, the recent protest and actions of some pensioners state government had N2.040 million in First the poor performance of his cabinet permeated including alleged diversion of the bailout funds, in Osogbo as an attempt by their sponsors to Bank and N1.312 million in Wema Bank as the state’s local government administration and adding also that the team to should make their gag the truth. The government said those behind balance of the bailout fund for the state with service delivery in all facets of the system. ndings public for the sanctity of transparency the fabrications of lies over bailout loans and a balance of N173,226,000 domiciled in Zenith Mr. Sunday Oyinloye, who claimed to be a and accountability. other nancial matters concerning Osun have Bank for the Local Government bailout fund stalwart of the Alliance for Democracy (AD) The group and some pensioners under the aegis also conspired to prevent any avenue for the It is also noteworthy that under the modulated back then, noted that during Aregbesola’s of Good Governance Support Group (GGSG) of government to set the records straight. salaries structure, a chunk of the workers still rst term in 2010, it took him almost a year the Nigeria Union of Pensioners (NUP) in the The Director, Bureau of Communication and receive full salaries and allowances while only to constitute his cabinet. He claimed he was state had earlier staged a protest in the state Strategy in the Of ce of the Governor, Mr. Semiu those in the senior cadre get half salaries. Reports saving money for the state. During his rst two capital, Osogbo and the Federal Capital Territory Okanlawon, in a statement, said the arranged also have it that the government has directed years in of ce, he failed to start any meaningful (FCT), Abuja, calling for the investigation of protest against the non-payment of their entitle- an upward review of salaries and allowance project by hiding under the disguise of saving nancial impropriety and alleged diversion of ment was a cover-up to disrupt the sitting of under the modulated salary scheme for the money and that road construction was not a the bailout funds by the one-man government. the State House of Assembly and prevent the end of last year. good idea during the rains. They alleged that the state under Aregbesola’s government from giving out the gures. He said Thus, in arguing that his failure to have a watch has been a reference point of bad gov- for accountability and transparency, the state The Legislative Intervention cabinet in time in 2010 as a failure of his last ernance out of the 36 states of the federation House of Assembly has started probing how In its intervention, a special plenary organised tenure executive cabinet, it is trite to assume since the present administration came on board. N34.5bn received from the federal government by the State Assembly also revealed the transpar- that the performance of his cabinet was woeful They stressed that the governor had put the as bailout was spent. ent manner by which the state disbursed the and a disgrace to the state. But that would not state into the economic quagmire which has “The House of Assembly had summoned bailout funds. serve enough grounds to sole run the state at made it unable to perform her social obligation some government of cials to appear before “How best can one show this to the whole collective expense. to its workforce and retirees alike. lawmakers on Wednesday 7th December 2016,” world that the state government of Osun used Also, a human rights lawyer, Kanmi Ajibola, Alimi-Sulaiman declared that the state govern- the statement read in part. the bailout for the salaries and allowances of once sued the governor for refusing to appoint ment under Aregbesola’s watch has shown poor Those summoned, the statement stated, include: workers of this state? We have the gures, we a team, almost two years into his second term. attitude to the plight of the workers and retirees the Accountant-General, Permanent Secretaries have the data, and we have everything. It is He led the originating summons at the state alike by diverting the bailout funds meant to pay Ministry of Finance, Of ce of Budget Planning, not as if we are just covering the executives High Court pursuant to Section 6(6) (B) and 24 the backlogs of their salaries and pensions. The Director-General of Debt Management Of ce, unnecessarily, but based on the gures before of the 1999 constitution, after the expiration of group also alleged that the recent compulsory Of cials of Wema Bank, Zenith Bank and First us, there is nobody that will come to the State seven days ultimatum given to him to appoint three months annual leave handed down on Bank, Osun State Chairmen of Nigeria Labour of Osun that will not go through the gure commissioners had lapsed. the senior of cers of the State civil service from Congress (NLC), Trade Union Congress (TUC), before you can know anything. What else do In a 24-paragraph af davit in support of the directorship cadre upward was as a result of Joint Negotiation Council (JNC), the Nigeria they need to link this, to ascertain the transpar- originating summons, Ajibola submitted that the impeding nancial crimes investigations from Union of Local Government Employee (NULGE), ency nature of the bailout and the way it is refusal of Aregbesola to appoint commissioners federal government agencies, saddled with such Heads of Market Women Non-Governmental being spent in the State of Osun? We need to was illegal and unconstitutional. He sought an responsibility to investigate alleged nancial Organisations (NGO) and Civil Society Organisa- thank the teams that are working together with order of the court, directing Aregbesola to appoint improprieties. tions (CSOs)”. Governor Aregbesola,” said the Speaker as the commissioners into the available ministries in The Bureau queried why the protesters did assembly adjourned the plenary organised to the state within seven days of the judgment Reveling in Salary Payment not allow the House of Assembly to go on with unveil how the funds were used. of the court, stating also that Aregbesola has Despite his palpable shortcoming in practically the proceedings that was expected to be aired For many months there were insinuations been acting contrary to his oath of of ce and all the boxes ticked, the governor still found live on Television so that people can come out that the governor diverted the funds for another code of conduct for public of cers. excitement in something. He said the ability of with questions that had agitated their minds purpose. The opposition wasn’t silent but Chief Judge of Osun State, Hon. Justice Adepele his government to pay salaries from September if the few supposed pensioners were not out Aregbesola too remained unperturbed until Oyebola Ojo, it will be recalled, recently granted to December last year was a huge relief. He said to gag the truth. the assembly decided to call the concerned an order directing Governor Aregbesola to provide it was in September 2014 that he had to call He said the House of Assembly, which stakeholders to tell their story. information about the debt pro le of the state, on workers to decide whether they wanted a symbolises people’s representation, was about After the normal opening rituals, the chairman as sought by Kanmi Ajibola. The rights lawyer staff reduction or payment of salaries according providing a platform to throw lights on how of the House Committee on Appropriation, prayed the court to grant all his prayer in the to available resources when the impact of the the bailout loan was disbursed to lay to rest, Kamil Oyedele opened the oor by reading new suit in accordance with Order 3 Rules 5 and economic hardship in the country began to all allegations of nancial recklessness levied a letter to remind all on what they had done 8 of the High court of Osun State Rules 2008. bite harder. on government. as regards the allegation of fund diversion by According to him, in July 2015, the federal Aregbesola. He narrated how the House has The Bailout Crisis government listened to some of the solutions A Flashback… been monitoring and keeping records of all the While the issue of alleged poor performance proffered to the national revenue crisis. He said Shortly after President Muhammadu Buhari activities of government and how it spent the has refused to subside, a fresh controversy has when the state got N34.9bn bailout loan in 2015, assumed of ce, 27 out of the 36 states of the bailout fund and other loans that were approved continued to trail the Osun bailout funds and there were controversies on how to disburse federation including Osun had dif culties in by the assembly. how the disbursement has put the governor the funds because some people insisted that meeting salaries payment obligation to their Also, the Accountant-General, Mr. Alaba into trouble over his alleged inability to pay the the whole funds should be spent all at once. workers as a result of the nation’s dwindling oil Kolawole, switched on his microphone and threw full salaries to both the junior and the senior “But I knew that with the magnitude of the revenue. For this reason, Buhari offered to help more light on the confusion. He did not mince workers in the state. economic crisis facing Nigeria, it would have concerned state governments with concessionary words as he went straight to the business of the Thus, following the Senate’s recent resolution to been suicidal to expend the whole bailout loan loan otherwise called bailout, facilitated through day. Recounting how he called an emergency probe the governor, CSCEOS, a civil society group at once without saving a portion of it which the Apex bank, Central Bank of Nigeria (CBN) meeting on the 6th of July 2015, directing that has insisted that Aregbesola actually diverted eventually bailed us out till around February to defray backlog of salary arrears. Requests the arrears of salaries, pensions and allowances over N16 billion of the about N35billion bailout this year,” Aregbesola said, adding that this were made to the CBN by the concerned states. funds. The Senate had directed its committee on was what made necessary, the constitution of Osun requested for N64,327,492,947.01 to cover CONT’D ON NEXT PAGE THISDAY • MON DAY, JANUARY , POLITICS P ERSPECTIVE

Nigeria’s Indifference Towards Communications Governance Nigerian leaders still have a lot to learn in terms of communications governance, writes Tunde Musibau Akanni Prior to the commencement of this year’s play out in Nigeria, it was not in any way recommendations of this research will be edition of Internet Governance Forum (IGF), inconspicuous. Indeed, the then Governor ready in the rst quarter of 2017. One then which held in Guadalajara, Mexico, Nigeria’s Babatunde Fashola of Lagos State, home wonders why NCC does not want to take Communication Minister, Alhaji Adebayo to the highest number of media houses in advantage of the CTO’s research efforts Shittu stoked a re of controversy. He Nigeria, acknowledged it in one of his public before taking a decision on the data services announced that telephone services in Nigeria statements. He however barely advised even if it means persuading the said small would soon be subjected to additional tax of that the media should explore alternative players? 9 per cent. avenues for revenue for survival. Not for The Internet Governance Forum is the Not a few Nigerians were amused. There him, any likelihood of supporting the media. single, largest, annual global meeting of was a barrage of negative criticism. Most Today, big newspaper companies like The experts and other numerous stakeholders people complained that the planned tax was Guardian and Thisday have had to shed dedicated to discussing the various dimen- another manifestation of President Muham- considerable weight of labour wages. Like sions of the applicability of Internet to madu Buhari’s insensitivity to the plight of Governor Fashola, like NCC since then till humanity. It derived from a United Nations an already impoverished population. The date. Resolution. controversy gradually subsided. But it didn’t But there’s no stopping the incessantly Interestingly, the Commonwealth Telecom- take long for another to be stirred on data rolling wheel of innovation. At the just munication Organisation delegate to the 2016 service. concluded 2016 edition of the IGF, 73-year IGF was led by a Nigerian, Shola Taylor. It was the turn of the Nigerian Communi- old Google executive and one of those, who Unmistakably committed to the ideals of the cation Commission (NCC) this time. Much saw to the inception of the Internet, Vint best practices in relation to telecommunica- closer to the IGF which commenced Monday Cerf registered one bold submission – it was tion and allied services, he reiterated the December 2, 2016, NCC blew the lid off rightly titled: “The Internet as an Un nished indispensability of the ideals at the CTO the rather calm data sales realm to trigger Business”. session to the applause of all attendees. But what turned out to be another protracted Cerf noted that even for those of them who could take the message to the relevant debate. It announced that the prices of data that were part of the beginning of what has authorities in Nigeria? Nigeria’s Ministry of would go up. As it happened to Minister Shiu...not late to get it right turned out to be the most open technology Communication had zero representation. Shittu’s offensive against Nigerians, so was they could not project what the functionality No less signi cant is the fact that although NCC immediately confronted with a stern magazine publishers in the US following would be in future. According to him, it was scholars around the world have been opposition from the people. the inception of the internet. The publishers, particularly striking that when Professor Tim trying to use the 2016 IGF to strengthen the Perhaps for want of what to say, NCC at the reported annual congregation, noted Berners Lee nally invented the worldwide- evolving multidisciplinary, global academic made effort to rationalise that the plan to that a greater percentage of their advertising web in the early 1990s, he was rst ignored. body of the Network of Scholars on Internet endorse the price hiking for data was in accruals were being diverted to online Incidentally, that appears to be the most Governance, GIGANET. Yours sincerely has the interest of the small ones among the platforms. dominant feature of the Internet today. been the only university based Nigerian service providers, who may be stied out They expressed serious concern and According to him it has been interesting to scholar at both IGF 2015 and 2016, courtesy of business if that step was not taken. Thus felt they need to be seriously creative and note how OTTs (Over The Top applications) of Ford Foundation and South African-based arose questions that have not been duly supported by all including the government like WhatsApp and Skype have multiplied, Research ICT Africa supported by IDRC of addressed: How did NCC, justi ably and since they would have to inevitably co-habit adding that there was no predictable end Canada. responsibly, arrive at this judgment? How with the emerging, new media. The publish- to this multidimensionality in future. His The conspicuous absence of Nigerian would NCC justify its support for the poor ers’ worry became the worry of the society advice to everyone at the opening session scholars from IGF 2016 and even that of taxpayers on whose sweat it’s been thriving? especially relevant government functionaries. of the 2016 IGF therefore was that all those 2015 which held in Joao Pessoa, Brazil, Most important: What reckoning has NCC The media were perceived as an indis- given the responsibilities to manage internet brings up the issue of the complete for the engagement with stakeholders it pensable variable in the democracy mix. and allied services all over the world should indifference or mutual exclusivity that had claims to conduct? Seriously speaking! Their survival would always be bene cial be open to suggestions and even nurture characterized the relationship between the As NCC mustered efforts to defend its to the society it was argued. Subsequently, the environment that would encourage Ministry of Communication, NCC and the unenviable position, identifying as Nigerians government agencies deemed it necessary to volunteers of suggestions. nation’s universities and polytechnics over for some of us attending the 2016 IGF parcel advertisement out to several of these Throughout the weeklong, multi-sided the years. The result: No Nigerian university suddenly became a burden. Colleagues from news media establishments as some kind of programme, this writer ruminated over or polytechnic is a member of the Interna- other parts of the world kept remarking support. this as a deep and far sighted remark and tional Telecommunication Union, ITU, since derisively that Nigeria was always a surprise When this same experience began to one that does not seem to resonate with Nigeria became a member in 1960s. in spite of its insistence in claiming all of the concerned authorities in Nigeria. Vint The membership of the organisation the superlatives relating to development in Cerf’s advice was a good reinforcement is open to academic institutions in the Africa. Within oneself, there was no doubt- to the philosophy behind IGF itself. In member countries and so, academic institu- ing that those given governance responsibili- Colleagues from other most parts of the world, stakeholders are tions from such countries like Cote d’Ivoire ties in this regard need to learn a lot. almost unanimous on the ideals of internet and Bangladesh are members. With this Shittu confessed, to senators after all, that parts of the world kept governance. conspicuous absence, how then would the he was not an expert but a sheer political remarking derisively Generally, the global best practices also duo of the Ministry of Communication and of ce holder, when he tried to absolve endorsed by the Commonwealth Telecom- NCC realize the appropriate consciousness himself of the NCC’s blunder. Even this that Nigeria was munications, CTO and others recommend, to collaborate on relevant concerns? Communications Ministry-NCC’s seeming among others that internet governance ac- As is the case with the academia, so dissonance isn’t healthy for a nation whose always a surprise in tors must necessarily be open and inclusive it is with the media. NCC, interestingly, other sectors are not in the best form. What spite of its insistence in their disposition. They must recognise is interested in the survival of the small seems to be the biggest revenue earner the fact that as much as governments players in the telecommunication sector. But after oil does not seem to be enjoying the in claiming all of the are important, so are users, the technical how much of the nancial strength of the kind of peace and seriousness that could superlatives relating to community, civil society and the academia. nation’s media, especially the print media, nurture it to optimal earning capability Multistakeholderism in this sense must, in has been undermined by the inception of and effective social relevance. It is rather development in Africa. the bid to making more voices heard, be the internet? No one wants to heap any disappointing that neither the ministry emphatic on equitable participation and blame on NCC here but given its centrality nor the regulatory body took cue from Within oneself, there inclusiveness. to all related developments, being alive to the events of the recent past and even the was no doubting that CTO especially helps to bridge up them would only earn NCC, citizens’ better contemporary ones. member countries on trendy practices. reckoning and better co-habitation with the In 1998, Columbia Journalism Review those given governance Currently, that organisation is undertaking media. published a cover story, “Will Gates Shut a study on the use of OTTs in relation to - Dr. Akanni, member of the Internet Society the Papers?” In that report, the magazine responsibilities in this both the service providers and the users. It is a Journalism teacher at the Lagos State recounted the dilemma of newspaper and regard need to learn a lot is interesting to note that the ndings and University, LASU, Nigeria.

THE SOLE ADMINIST R ATOR not paid to June 2015 be forwarded to CBN. Osogbo, Musbaudeen Oyeniran while clarifying funds as received.” MOU on the disbursement of bailout. With the assistance of a projector, he showed one of such grey areas said that his bank First Bank’s Mr Adebayo Yakubu, who is The chairman of the Joint Negotiation Com- the letter written by the government to request the ensured that up till the remaining balance in the zonal head, Public Sector of Oyo and Osun mittee, Comrade Adejumo couldn’t but agree sum of over N64 billion, which was forwarded the account now which is N1,312, 000, due con rmed what the PS said. with the NLC chairman just like Adeyeye, who on 15th July, 2015 to the CBN. diligence was done. The Deputy Speaker, Hon. Akintunde chairs Osun chapter of the Nigeria Union of Permanent Secretary, Local Government, Mr Ola Adedeji of Zenith Bank corroborated Adegboye, however urged the state to always Local Government Employees (NULGE). Chieftaincy, Rural and Community Affairs, the PS of the Ministry of Local Government, publicise how funds are disbursed “so that we In the nal analysis, it is the belief of Mr. Muftaudeen Oluwadare also con rmed con rming that the balance shown was true won’t have problem like this”. many that had the government put a cabinet that the state requested for a bailout loan and accurate, “based on the statement we The chairman of the Osun State chapter of in place and by implications, run a more of the sum of N23,887,975,810.26 from the have, and the transaction that has taken place the Nigeria Labour Congress (NLC), Comrade transparent administrations, he would not CBN, “to actually liquidate the indebtedness on that account. Because, when we applied to Jacob Adekomi, didn’t say anything contrary. have had as much crisis bordering on sheer of the local government on the payment of partake in the bailout funds, speci cally for He added that “when the bailout came between administrative incompetence. However, mov- staff salaries and pension, and gratuity as the local government employees of the State of August and September, precisely 15th September ing forward, it is hoped that the governor at June 2015. Osun, we were guided by the CBN guidelines 2015, the labour leaders in Osun met government would learn from this ugly experience and Acting branch manager of Wema Bank PLC, concerning the use and applications of those representatives and we had agreement via an adjust accordingly. MONDAY, JANUARY , • THISDAY

Acting Features Editor Charles Ajunwa FEATURES Email [email protected] Raising the Bar on Reducing Disasters As the country continues to grapple with numerous challenges on all fronts, Kasim Sumaina writes on the need for stakeholders to reduce disasters in the country

he Oxford Dictionary succinctly puts disaster as a very bad situation that causes problems. An unexpected event, such as a very bad accident, a ood or a re, that kills a lot of people or causes a lot of damage. TIn accordance with its statutory mandate of coordinating the management of all emergencies in the country, the National Emergency Management Agency (NEMA) has developed various policy documents to guide disaster risk reduction, disaster response and recovery. Identication of the elements at risk and vulnerable groups that are likely to be most affected by a disaster is the rst step in assess- ing disaster impacts and determining recovery needs. Enhancing Nigeria’s capability to recover from emergencies requires implementing recovery planning and programming activities in communities and across the following four inter-linked spaces that detonated the categories of impacts that communities and individuals have to recover from: humanitarian, social, economic, natural and built environments. According to the Guidance on Emergency Recovery, Nigeria is extremely vulnerable to droughts, oods, landslides, gully erosion and windstorms. Droughts it says, affect more people but ooding is the most frequent hazards. Droughts, hinted guide are most common in Sudano-Sahelian areas (such as in Borno, Yobe, Adamawa, Gombe Sokoto, Bauchi, Katsina, Kano, Gombe, Kebbi and Zamfara states). Flooding along the Niger River and its tributaries affects large parts of the population living along the river and is also becoming frequent in major urban centres such as Lagos, Port Harcourt, Kano and Ibadan. Landslides and extremely gully erosion impacts infrastructure and livelihoods of parts of Southeastern Nigeria with Anambra A ﬂood ravaged community State being the most affected. Other disasters include disease outbreaks and epidemics, such reduction; brainstorming on how to encourage some cutting across geopolitical boundaries, Stakeholders need to create as cholera, malaria, meningitis, measles, Lassa and bring all partners together to advance while others were peculiar to specic areas. fever, yellow fever and more recently the this cause. He said disaster can happen and The frequency and magnitude of disasters in awareness on a sustainable Avian in uenza virus (H5N1) in 2005. that no one can stop disaster from happening the country have therefore become sources basis especially around The country has also experienced many cases but, harped on the need to ensure no citizen of concern. of collapsed buildings in some major cities die as a result of any form of disaster. “Our response to this challenge will ensure the communities so that including, Abuja, Lagos and Port Harcourt; the protection and well-being of our future we can build the resilience terrorism, militancy amongst others. Experi- Sidi, noted that the combination of natural generation who are present here. This is build- ence with recent disaster recovery efforts in hazards and vulnerability pose a constant ing resilience on a sustainable platform. Nigeria for the communities to be Nigeria highlights the need for additional threat to both lives and livelihood as the also faces security challenges from several able to meet up with the guidelines, structures and support to improve world was witnessing a rapidly increasing causes, including from micro nationalism, on how we, as a nation, must address disaster impact of disasters with unacceptable impacts ethnic, religious and communal con icts, challenges of disasters. recovery challenges. in mortality indices. civil disturbances. We need to mitigate these In 2012 ood disaster in Nigeria resulted in According to Sidi, malaria, pneumonia, “Disaster from natural, con ict or techno- human, material and economic losses, with diarrhoea, measles, HIV/Aids account for logical sources threaten people’s lives and disasters 363 people killed, another 5,851 injured, while more than 70 per cent estimated deaths in health, limit and increase uncertainty of their 7,705,398 were affected and 2,157,419 persons Nigeria. Adding that every single day, Nigeria livelihoods and economic activity, severely were displaced. In like manner, con icts and loses thousands of under-ve year olds and undermine market access and competitiveness terrorism have caused wide spread damages, hundreds of women of childbearing age. and compromise governance system. They also ers involved in recovery need to recognise loss of lives, properties and the environment. “This makes the country the second largest destroy both natural and built environment, that successful recovery depends on their Response to these disasters the Director contributor to the under-ve and maternal expose females to sexual abuse and violence, commitment to providing the human and General of NEMA, Muhammed Sani Sidi, mortality rate in the world.” contribute to increase in the number of refugees material resources and services required noted, inform of relief, is not sufcient. Adding, He said there was the need to focus on the and displaced persons, erode development during medium and long term recovery. And “That there is the need to strengthen our seven targets of the new Sendai Framework gains and limit structural stability. that, effective response to and recovery from strategies, plans and operations for effective for Disaster Risk Reduction in Nigeria and He emphasised that, “stakeholders need emergencies require preparedness capacity disaster risk reduction, recovery and resilient the world at large. Adding that, this year’s to create awareness on a sustainable basis and that the impacts of and capabilities to building. This we hope to do through the theme will dwell on the rst target seeking to especially around the communities so that we recover from disasters differ in different National Disaster Recovery Strategy and create a wave of awareness about actions that can build the resilience for the communities communities, that costs of recovery should Framework.” need to be taken to reduce mortality around to be able to meet up with the challenges of be weighed against needs and resources The aforementioned cases prompted the the world. According to UNICEF Multiple disasters. We need to mitigate these disasters.” because it is not possible to recover from NEMA to recently explain that the national Indicator Cluster Survey 2011,”It is no denial To this end, Sidi said the 2016 International all possible contingencies. disaster prole over the years shows that that the threat from natural disasters is urgent Day for Disaster Risk Reduction, “provides the The DG further explained that the strategic Nigeria is bedeviled with varied and multiple and need immediate concerted attention. opportunity to discuss the overarching global considerations for recovery should be early hazards, some cutting across geopolitical “Although analysis of recent trends show challenge of disaster reduction; brainstorming establishment of a transition strategy, from boundaries, while others are peculiar to that the country is making progress in cutting on how to encourage and bring all partners response to early recovery, to ensure the ap- specic areas. These hazards have resulted down infant and under-ve mortality rates, together to advance this cause.” propriate withdrawal of response functions in disasters due to the activities of man that the pace still remains too slow. Preventable or To develop a culture of disaster risk reduc- and activities. Adding that an approach that increased the vulnerability of the population. treatable infectious diseases such as malaria, tion in Nigeria in which communities and is consistent with the level of residual risk, The frequency and magnitude of disasters pneumonia, diarrhoea, measles and HIV/ institutions understand the risks from and recovery issues and priorities by adopting a have therefore become sources of concern. AIDS account for more than 70 per cent of vulnerability to hazards and prepared with holistic approach to recovery inclusive of social, The Director General while delivering his the estimated one million under-ve deaths coordinated capabilities to prevent, protect economic, infrastructure and environmental speech at the 2016 International Day for in Nigeria.” against, respond to, and recover from all considerations. The timely identication and Disaster Risk Reduction disclosed that the It will be recalled that the national disaster hazards in a way that balances risk with appointment of lead agencies to coordinate event provided the opportunity to discuss prole over the years, shows that Nigeria was resources and need. functions related to the each of the above the over arching global challenge of disaster bedeviled with varied and multiple hazards, “It is pertinent to know that, stakehold- considerations. THISDAY •MONDAY, JANUARY , FEATURES In Nigeria, Newly Accessible Areas Reveal Scale of Crisis UNICEF warns on the humanitarian crisis in Banki, one of several towns in Borno State ravaged by the Boko Haram insurgency, urging government to take urgent steps to address it

One of the towns in the North-east torched by Boko Haram terrorists

any residents of Banki in Banki, rather they have sought shelter in baby Falti. The family decided to ee over the – well below the 12.5 cm a healthy baby’s in Borno State, a border the town’s semi-destroyed buildings. Most border to Cameroon because of the ongoing arm would measure. Her prominent bones town between Nigeria and don’t have roofs and the walls still bear the ghting. But while they were trying to get and discoloured hair are further indicators Cameroon, who escaped scars of battle. there, they were ambushed by Boko Haram. of severe acute malnourishment. She’s in the onslaughts of the Boko In some houses, groups of widowed “As we were eeing, Boko Haram stopped urgent need of medical care and will be Haram terrorists, have women are pooling resources. The so-called us,” she says. “They beat my husband and given food supplements to help her gain returned after the Nigerian army liberated ‘widows’ houses’ are home to women who took him away.” Yagana later found out weight. theM town in September 2015. But UNICEF were separated from their husbands during through friends that Boko Haram had shot Sadly, this baby is one of thousands of warns on the humanitarian crisis in the war the con ict, or whose husbands have been and killed her husband. When Banki was children in urgent need of life-saving medical ravaged town, urging government to urgent kidnapped or killed by Boko Haram. Many liberated, Yagana decided to come back to help. UNICEF estimates that 400,000 children steps to address them feel safer living together, along with their Nigeria, but she is still haunted by memories. in North-east Nigeria will suffer severe acute Less than 3km from the Cameroon border children. “I keep dreaming about my husband,” malnutrition this year. Without treatment, is the Nigerian town of Banki in Borno State. As they wait to see if their husbands will she explains. “Life is difcult without him, I approximately one in ve of those children The town’s main street, once a thriving return, the women make do as best they can. can’t get him out of my mind.” For now, the – more than 75,000 – is likely to die. commercial area with cross-border trade, is Some try to earn a small income through future for Yagana and her baby is uncertain, “At the moment, the critical urgent gap now deserted and lined with buildings that dressmaking, others get on with daily chores but at least they have found some security we see in all the IDP camps is the avail- have been destroyed during the con ict. like pounding maize for meals or chopping here in Banki. “I used to feel scared all the ability of food,” explains UNICEF’s Senior Boko Haram captured Banki in September rewood for use in cooking. time. But at least now, I feel safe,” she says. Emergency Coordinator Abdul Kadir Musse. 2014. The small town’s position on the border In one widows’ house we meet 18-year-old “People could not cultivate in the last two made it a strategic location as they attempted Yagana. She used to live in a small village A Growing Crisis in Malnutrition years; still they do not have access to their to secure territory beyond North-east Nigeria. outside Banki with her husband and new The ongoing Boko Haram-related crisis cultivation areas… (and) all livelihoods are The Nigerian military, assisted by the has resulted in seven million individuals being lost. That’s why we see high rates of Cameroonian army, reassumed control of across the four North-east states in desperate malnutrition.” the town a year later in September 2015. need of assistance. Approximately 54 per As security gradually improves across the A tentative security is holding. cent are children. region, humanitarian agencies are accessing Former residents and internally displaced In Borno State alone, there are more than areas that have been too dangerous to get persons from surrounding villages have now Displaced families aren’t one million displaced people. The majority to before. In each new place, hundreds of sought refuge in Banki. living in tents in Banki, are staying with host families, but around thousands of people in need of urgent help 280,000 people live in ofcial or unofcial are being discovered. Widow’s Houses rather they have sought camps. In Nigeria alone, UNICEF in collabora- With the constant arrival of people, it’s shelter in the town’s semi- In a UNICEF health clinic in one camp, tion with the government and partners, has difcult to accurately determine how many UNICEF Nutrition Specialist Andrew provided primary health care services to more people live here. According to the local camp destroyed buildings. Most Sammy is screening children for signs of than three million people with hundreds of management, there’s at least 20,000 displaced don’t have roofs and the malnourishment. thousands of children receiving psycho-social people now living in Banki – and the true Today, one mother has brought in her little support, therapeutic feeding, access to safe gure could be more than twice as high. walls still bear the scars of girl. Staff carefully measure the circumference water and education. Displaced families aren’t living in tents battle of her fragile arm. It measures just 9.5 cm Culled from UNICEF.org THISDAY • NAY, JANUARY ,

Photo Editor A A IMAGES Email

Managing Director Candel Company,Mr Emmanuel Kaie(right)and a winner of Candel Be A Millionaire Promo, Mr R-L; Ojora of Ijoraland, Oba Abdul fatai Aremu Oyeyinka Aromire Ojora; Sole Administrator, Apapa Local Awolowo Olalekan. during the presentation of gi to winners, in Lagos....recently Government, Honourable Luqman Babatunde Alao and Physical Challenge, Toyin Tijani, during the presentation of wheelchair to Tijani at the Oba’s Palace, in Ijora, Lagos...recently

Executive Producer/Presenter, Ronke Apampa(right) and an Actress Mrs. Juliet Ibrahim at the yearly family L-R: MD/CEO, Lotgrand, operators of Grandloo, Niyi Adekunle; winner of a N10,800 million cash in the Yellow entertainment show in Lagos...recently. Terminal Machine Number loo game, Razaq Adewale Abdulmali; and COO of Lotgrand, Wale Adekunle, at the cheque presentation ceremony to the winner in Lagos... recently

L-R: Managing Director, Nigerite Limited, Mr. Frank Le Bris; Long S ervice Award recipient,Mr. Emmanuel L-R: Deputy Governor, Sokoto State Ahmed Aliyu, DG of Ja’iz Foundation, Ambassador Adamu Babangida Olushola Egbedi and Chief Financial Oﬃcer, Nigerite Limited, Mr. ijani T Tajudeen Adio, during the end of the Ibrahim and Governor Aminu Waziri Tambuwal at the oﬃcial launch of the Sokoto Community Contributory year party and long service award of Nigerite Limited in Lagos . ...recently Health Scheme in Sokoto...recently

L-R: General Manager, Public and Government Affairs, ExxonMobil Nigeria, Mr. Paul Arinze; Minister of Industry, The President Women Society for Children /Wife of Vice Chancellor University of Ibadan Dr. Mrs Eyiwumi Bolutito Trade and Investment, Dr. Okechukwu Enelamah; and Manager, Media and Communications, ExxonMobil Nigeria, Mr. Olayinka (le)and others dancing with children at the end of the year party oorganised by the University of Ibadan Ogechukwu Udeagha, at the Lagos Business School (LBS) annual ‘breakfast in Lagos... recently. Women Society for Children in lbadan...recently FELIX ADEMOLA THISDAY • MONDAY, JANUARY §, ¡

Group Business Editor Chika Amanze-Nwachuku Email [email protected] BUSINESSWORLD RATES AS AT DECEMBER , NIBOR NITTY EXCHANGE RATE OVERNIGHT ¤.¥ MONTH ¦.§ -MONTH .¤§¡ -MONTH §.¡¦¤ N ¥.¥/ US DOLLAR* MONTH ¥.¦¥ MONTH . ¥¥¤ -MONTH .¦¥¦ -MONTH .¤¡ *AS AT LAST FRIDAY -MONTH ¡.§¤ -MONTH .¦¥ Quick Takes

Promasidor Wins NIPR Award The efforts of Promasidor Nigeria Limited in elevating the standard of education through its Cowbellpedia Mathematics Television Quiz Show initiative has earned it the ‘Best Company in Education’ in the . The company was rewarded at the Lagos PR Industry Gala and Awards (LaPRIGA) organised by the Nigerian Institute of Public Relations (NIPR), Lagos Chapter in Lagos recently. Speaking at the event, the Chairman, Lagos NIPR, Mr. Olusegun McMedal, said the consistency of Promasidor’s Cowbellpedia Mathematics Quiz initiative is commendable, adding that it has motivated students to have interest in the subject which is a basic requirement in any profession in life. He affirmed that Promasidor has done well in ensuring that students imbibe the culture of having Mathematics as one of their favourite subjects in school. Receiving the award, the Assistant Brand Manager, Promasidor, Miss. Oluwatooni Odewole, said it was deserving because of shows the company‘s strong commitment in improving the standard of education and encouraging them to erase the notion that Mathemat- ics is a difficult subject that should be neglected. “It is part of the corporate social responsibility (CSR) initiative of the company which has greatly imparted on students’ perception of the subject,” she stated. Also on the CSR initiative, the Managing Director of Promasidor SPECIAL RECOGNITION Nigeria Limited, Mr. Olivier Thiry, said a strong foundation of Science, L-R: Specialties Engineer, Total Nigeria Plc, Enyioko Cosmo; Head, Brand Management, Chams Plc, Adedayo Adejokun; Sales Man- Technology, Engineering and Mathematics (STEM) education has ager, Okomu Oil Palm Company Plc, Chris Amedu and Head, Regional Trade & Regulatory Affairs, Guinness Nigeria Plc, Miss Mojisola become very important at this stage when Nigeria is determined Akpata during the Consumer Rights Awareness Advancement & Advocacy lnitiative annual summit and award in Lagos....recently to broaden its economic base like that of the developed world. Creativity Week Goes Continental To celebrate the th year of Creativity Week, seasoned creative professionals have been selected to preside over creative Report: Nigerian Banks Have Overdue competitions during the -day event. Competition for honours has also been extended to creatives from West African countries. Obligations to Correspondent Banks Creativity week is the brain child of CHINI Productions, the official representatives of Cannes Lions on Nigeria. The event and regional development - 11 The Nigerian Debt Capital is slated for the Muson Centre in Lagos in March. Obinna Chima BANKING per cent. It estimated that the Markets is beginning to see a The event will feature creativity competitions, Academies, Lions funding structure would be revival as OTC companies such Edit Seminars and workshops, with an Award Night capping it up Nigerian banks in 2016 had According to the report, the 30 per cent equity and 70 per as FMDQ continue to improve on the final day. piled up unpaid overdue trade situation also led to trade credit cent debt. transparency and processes Creative professionals in the Nigerian marketing communica- obligations to correspondent evaporation; shrinking suppliers’ It noted that investment in within the market,” it added. tion space, such as the Managing Director of DDB Lagos, Ikechi banks, a report by Ecobank credit and bill of collections; cold infrastructure had been ne- According to the report, Odigbo, Chief Creativity Officer, XM Ideas, Steve Babaeko, a Nigeria Limited has revealed. feet by export credit agencies; glected in the past, but pointed provision of long-term capital former President of the Public Relations Consultant Association Although the report did not and infrastructural challenges. out that, however, there is a lot will trigger the development of Nigeria (PRCAN), Chido Nwakanma and a few others, have been specify the affected banks, it “Infrastructure continues to be more appetite and willingness of new long term instruments picked by the organisers as Jury Presidents and Academy deans further pointed out that over a major challenge constraining,” presently, given the potential (REITs, Infrastructural Bonds, for the competitions and academies. $14 billion in foreign investment it added. sources of domestic nance are etc) as well as to provide local According to the Managing Director CHINI Productions, Nnamdi was lost within a year, a big But in other to develop and becoming available. counterpart funding for nanc- Ndu, the competitions will include the Young Pro West African issue which it said affected all maintain Nigeria’s infrastructure Nigeria’s diaspora is a pool ing developments of real assets Championship, the Miami Ad School Scholarship Competition deposit money banks in Nigeria. in the next 30 years, the country of funds that can potentially and hard infrastructure in the and the Roger Hatchuel Academy. Research analyst at Ecobank would require an estimated $3 be tapped into as the World economy. “The Young Pro category is meant for professionals employed Nigeria Limited, Mr. Kunle trillion. The report listed the Bank estimates that Nigerian The report pointed out that in a related sector and should not be more than years old. It Ezun, stated this in a report sector that requires funding in diasporas sent back some $21 the Nigerian economy is already is open to competitors in Cote D’Ivorie and Nigeria with a team titled: “Strategic Business the country over this 30-year billion in remittances alone since diversi ed by Gross Domestic comprising of two individuals. Winners will represent their countries Review...with insight into 2017,” period to include social infra- 2013. Production (GDP) contributions, at the Cannes Lions International Festival of Creativity in June obtained at the weekend. structure - ve per cent, ICT - 11 “The new administration but stated that over-dependence ¡,” he said. It attributed the development per cent; vital registeration and has identi ed infrastructure on hydrocarbons for foreign to “the scarcity of foreign ex- security -two per cent; energy (both hard and soft) as its main earnings and government HSBC Raises World Economic Growth change and the xed pegged - 33 per cent; transport - 25 per area to tackle and are looking revenue remains the bane of Economists at HSBC last week raised their forecast for global exchange rate policy of the cent, agriculture, water and min- toward mobilising funds for growth and inflation over the next two years based on robust Central Bank of Nigeria (CBN). ing - 13 per cent; and housing infrastructure development. Continued on page 24 manufacturing activity, a resilient China and above all the fiscal boost expected to come in the United States. It was the first time in nearly five years they have upped their growth and inflation outlooks over a two-year horizon as ¡ BOI Disburses N3.1bn Funds to Micro gets underway and as investors prepare for U.S. President-elect Donald Trump entering the White House. Entrepreneurs “The British economy appears to be in ruder health than had been anticipated expected following the country’s decision in June Crusoe Osagie INDUSTRY the federal government. the bottom of the pyramid. to leave the European Union, while Japan, Germany and Spain are “BOI is currently in partner- He noted that the programme also looking brighter,” HSBC said. The Bank of Industry (BOI) penetration of participating ship with 11 micro nance banks will further enable BOI achieve has disbursed over N3.1 billion nancial institutions in all under the BOP scheme to which its core mandate of industri- for on-lending to micro entre- parts of the country to stimulate the sum of N1.1 billion had alisation by providing nance preneurs under its Bottom of economic activity within the earlier been disbursed. The for the economically active the Pyramid (BOP) programme, critical mass at the bottom of inclusion of LAPO micro - and the nancially excluded a scheme the development the pyramid nance bank N1 billion, Fortis micro-entrepreneurs. nance institution (DFI) said is Olagunju during the cheque micro nance bank N500 million In his words: “By partnering “The Central Bank of Nigeria essentially aimed at poverty representation ceremony to BOP and Lotus Capital N500 million with these micro nance banks, should give Arik and Medview duction through job and wealth on-lending loan bene ciaries, will bring the number of such we will be able to focus more special concession and the creation focusing on the rural a partnership with renowned partnerships to 14,” he said. on the funding of Small and opportunity to buy forex. We micro-enterprise operators with micro nance banks for credit According to him, the scheme Medium Enterprises (SMEs). We have saved the country a lot of a view to extending nancial delivery to microenterprises, will enable the DFI to deepen its have also decided to work with money that would have gone inclusion in the country. pointed out that the BOP aligns developmental lending activities them because lending to micro out as capital ight” The acting Managing Director, with the employment and by utilising the services of other enterprises requires special skills BOI, Mr. Waheed Olagunju, wealth creation objectives of the tested nancial institutions to that they have acquired.” Chairman, Arik Air, said the scheme is designed National Enterprise Develop- deliver credit to the under- Joseph Arumemi-Ikhide to leverage on the spread and ment Programme (NEDEP) of served and under-banked at Continued on page 24 THISDAY • MONDAY, JANUARY , BUSINESSWORLD NEWS

REPORT: NIGERIAN BANKS HAVE OVERDUE OBLIGATIONS TO The Amazon Project Offers N10m Seed Capital CORRESPONDENT BANKS the economy. This has continued for SMEs to threaten the country’s source of foreign earnings and govern- Emma Okonji ment revenue since the drop where only the toughest and Segun Lawal, said: “The telecommunications rm their multi-million-dollar in crude oil prices. AIS Media, a United smartest survive. This project Amazon Project is entrepre- and a foremost commercial studio complex in Lekki, This has also manifested in States-based digital marketing will reward entrepreneurs that tainment at its very best. In bank. Both institutions are Lagos. OPEC members defending agency has announced the can prove they have what it this intense, reality TV show, ideal partners for this project, To ensure integrity of the market share; competing African inaugural season of The takes to make it in Nigeria business meets entertainment having demonstrated a strong contestant selection process, producers; sanction- free Iran; Amazon Project, a 13-week by applying innovation and in a manner tailored to the commitment to supporting both short listing and voting Shale oil; alternative and clean television production that is smart economics to meeting Nigerian environment, and entrepreneurs and small will be overseen by a leading energy; low level of external designed to select and invest needs and solving complex geared at promoting local businesses over the years. entrepreneurship and capacity reserves; high unemployment in the brightest entrepreneurs business problems.” industry and innovation.” The show is expected to be building organisation, in col- rate, largely youth dominated and business ideas in Nigeria. Creative Anchor and Lead TAP is sponsored and produced by Ultima Studios, laboration with top consulting (13.9% new rate and trending The programme is billed for Producer of the project, Mr. supported by a leading with episodes recorded at rm in Nigeria. up); high cost of doing business; broadcast on terrestrial and and high cost of living (Ination satellite television towards at 18.48% in November 2016) the end of the rst quarter The Ecobank report argued of the year. that some factors that impacted The Amazon Project (TAP) negatively the growth of theth will offer about N10 million onomy last year included the in seed capital and business exclusion of 41 items from ac- incubation support to 10 cessing foreign exchange in the winners who are able to of cial foreign exchange market; demonstrate their superior drop in power supply by 1.200 abilities as entrepreneurs, to megawatt to 3,455 megawatt; a diverse panel of carefully the treasury single account selected judges and ultimately (TSA) implementation which the viewing audience. withdrew local and foreign Participating judges in currency government deposits TAP are the Chairman of from commercial banks, hereby Phillips Consulting, Foluso tightening market liquidity. Phillips; the CEO Zappahire Events, Funke Bucknor; Founder Numeris Media BOI DISBURSES N3.1BN Group, Anne Agbakoba and FUNDS TO MICRO CEO, NetPlusDotCom, Wole ENTREPRENEURS Faroun. The show is expected to He added that BOP model is also feature a series of guest consistent with the operating judges. In capturing the models of some of the world’s essence of the production, best DFIs that deliver their the Chief Executive Of cer services indirectly through of the project, Mr. Wole intermediary retail nance Faroun, said: “Doing busi- LUCKY WINNERS that have extensive branch ness in Nigeria in a recession L-R: Head, Consumer Protection Council, Lagos Zone, Joshua Ngada; Nmillion cash prize winners, Olawunmi Olaosebikan; Chinwe networks in the country. is like wading through the Okpanumee and Regional Operations Director, Lagos Region, Airtel Nigeria, Oladokun Oye at the Airtel Red Hot promo prize presenta- The Managing Director, Lotus famous Amazon rainforest tion ceremony in Lagos…recently Capital, Mrs. Hajara Adeola, expressed delight to be a partner in the BOP programme, stressing that Lotus Capital NANTA Supports FG on Total Access Bank Promises to Maintain aligns with BOI’s objectives of nancial inclusion. Rehabilitation of Abuja Runway Leadership Position on FMDQ OTC She said the micro nance bank offers a unique and spe- Goddy Egene fully raising of the N35 the market was not to be ci c alternative mechanism for billion from the market. underestimated. providing nance to nancially Chinedu Eze He urged the minister to put the The Group Managing “Access Bank was Following the signing of excluded micro-entrepreneurs. motion in place for the building of a Director/Chief Executive able to raise N35 billion the FMDQ CP Quotations “We are very grateful to the The National Association of Nigeria second runway at the airport so that Of cer of Access Bank from the money market, Register and the presen- BOI for extending credit to BOP Travel Agencies (NANTA) has given one runway could be in use while the Plc, Mr. Herbert Wigwe the largest listed com- tation of the FMDQ CP and those who do not have the support to the federal government’s other is under construction in future, has said the bank would mercial paper issuance Quotations Certi cate to access to nancial services to plan to rehabilitate the runway of the as it is happening at the Heathrow maintain its number one ever in Nigeria despite the issuer, Mr. Abubakar grow and to lift Nigeria out Nnamdi Azikiwe International Airport, Airport, London right now. position on activity chart the current economic Jimoh of Coronation of the recession. We are very Abuja; saying for a thorough job to “The rehabilitation is very necessary. of FMDQ OTC Securities headwinds and prevailing Merchant Bank Limited, delighted,” she said. be done the closure of the airport was The runway has existed for 34 years, 14 Exchange. tight liquidity situation in said: “There is strong inevitable. years older than its 20 years life span. Access Bank has re- the country. This indicates investors’ perception The Minister of State, Aviation, So we are in support for a total repair mained number one on the the high level of investor towards corporates with Senator Hadi Sirika had announced of the runway. The inconvenience is activity chart, accounting con dence in Access Bank. strong fundamentals and that the airport would be closed for something we all have to bear. For us for the highest value of This issue will allow us a good track record like six weeks for comprehensive work on at NANTA we feel government has to securities trading on the create a liquidity buffer Access Bank. This issue the runway from March 8, 2017, while take some factors into consideration. platform. It led the top 10 as we align our liquidity further demonstrates Ac- the Kaduna airport in Kaduna state But we also want to know whether banks to trade N121.59 management to interna- cess Bank’s commitment would be used as alternate airport. government would provide free shuttle trillion on the FMDQ tional best practice based to continuously explore NANTA also called for urgent from the alternate airport in Kaduna OTC in 2016, a value that on our internal Liquidity innovative nancing

construction of second runway at to Abuja,” Bernard said. represented 71 per cent of Adequacy Assessment options and consistently the airport to ensure that the issue The NANTA president commended the overall turnover in the Process (ILAAP).This is drive value growth for its of airport closure for such activities the federal government for earmarking market. particularly important stakeholders.” did not arise in future, adding that N1.01 billion for the completion of Speaking at the FMDQ given the prevailing Also speaking at the a second runway was critical at the the passenger terminal at the Kaduna OTC of ce last Thursday macro environment and ceremony, Mr. Ayo Fashina Group Business Editor Chika Amanze-Nwachuku airport. airport and said that the Minister at the ceremony to list its impact on industry of Chapel Hill Denham, The President of NANTA, Bankole assured that passengers would be Access Bank N35 billion liquidity,” he said. said: “This largest ever AgriBusiness/Industry Editor Bernard, who addressed newsmen in protected while shuttling from Kaduna commercial paper (CP), Also speaking at the CP Issuance in Nigeria’s Crusoe Osagie Lagos at the weekend, said before to Abuja. Wigwe said the bank ceremony, Vice President & money markets, provides Comms/e-Business Editor the decision of government to repair Bernard, however, requested that would deplore needed Divisional Head, Marketing further credence to Access Emma Okonji the airport runway, many incidents government should allow international resources to maintain its & Business Development Bank’s long-standing Capital Market Editor Goddy Egene were recorded on the facility when airlines that operate to Abuja to move leadership position. of FMDQ, Ms. Tumi reputation as a top-grade issuer. We remain grateful Senior Correspondent aircraft on landing damaged their to Lagos, noting that if this was not According to him, Sekoni, congratulated Raheem Akingbolu (Advertising) landing gear or burst their tyres or done the airlines may relocate their the successful raising of Access Bank Plc on suc- to the domestic institutional Correspondents hit patchwork left-overs. operation from Nigeria and it would be N35 billion under the cessfully raising of N35 investors – especially the Chinedu Eze (Aviation) He cited the Saudi Arabia cargo dif cult to bring them back to operate bank’s N100 billion CP billion from the market Nigerian pension fund Linda Eroke (Labour) plane that hit gravels used to patch in the country, adding that the foreign programme is one of the at relatively competitive administrators – for their Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) the runway about three years ago and carriers also contribute immensely to strategies to remain an rates. She also lauded the overwhelming support, James Emejo (Nation’s Capital) got damaged severely. the economic development of the international nancial contribution the bank was and to the FMDQ-OTC Obinna Chima (Money Mkt) Bankole said to avert major accidents country. group. making to the development management and team, on the runway it was expedient that He also emphasised that government He had noted that the of the Nigerian markets, who have worked with Reporters Nume Ekeghe (Money Market) the rehabilitation took place so that the keep their words by ensuring that the high level of con dence highlighting that the posi- us to ensure a timely Nosa Alekhuogie (AgriBusiness) runway, which exceeded its life span rehabilitation was done in six weeks investors reposed on the tive impact a quotation of completion and quotation of 14 years ago, would be ready to as promised. bank led to the success- this sort would have on of this CP issuance.” serve the airport for another 20 years. THISDAY • MONDAY, JANUARY , BUSINESSWORLD MARKET REPORT Market Sheds N214bn on Pro t Taking in First Week

Goddy Egene and Nosa billion in 2,659 deals. Alekhuogie The three most actively traded stocks were: Oando (51.13 million The Nigerian equities market shares), FCMB (35.87 million shares) opened 2017 on a bearish note, and Zenith Bank (20.81 million shedding N214 billion in the rst shares), while the most actively week. Having recorded positive traded sectors were: Financial Ser- performance in the last weeks of vices (131.98 million), Oil and Gas December, most investors resorted (52.34 million shares), and ICT (10.77 to pro t taking in the New Year, million shares). a development that depressed the broader index. Speci cally, the Market turnover Nigerian Stock Exchange (NSE) All- Meanwhile, a total of 4.319 billion Share Index (NSE ASI) went down shares worth N7.376 billion in 9,330 by 2.3 per cent to close at 26,251.39. deals were traded this last week Similarly, market capitalisation shed by investors in contrast to a total N214 billion to close lower at N9.032 of 405.939 million shares valued at trillion. N3.724 billion that exchanged hands Although trading was for only the previous week in 6,363 deals. four days, three out of the days As usual the Financial Services were negative. The only positive sector led the activity chart with performance was recorded on Friday 4.177 billion shares valued at N5.306 (+0.2) as gains in the banking space billion traded in 5,047 deals, thus – Zenith Bank (+1.8 per cent), Access contributing 96.71 per cent and 71.94 Bank (+2.3 per cent), United Bank for per cent to the total equity turnover Africa Plc (+1.5 per cent ), Ecobank volume and value respectively. The Transnational Incorporated (+1.2 Oil and Gas sector followed with per cent) FBN Holdings (+1.7 per 65.827 million shares worth N594.522 cent) and Guaranty Trust Bank Plc million in 1,385 deals. The third (+0.3 per cent) – bolstered. place was occupied by Conglomer- Apart from the NSE ASI that ates sector with a turnover of 26.487 closed negatively, all other indices million shares worth N48.163 million also nished lower during the week. in 299 deals. The NSE Industrial Goods Index Trading in the top three equities led with a decline of 3.0 per cent namely – Unity Kapital Assurance following weak sentiments toward Plc, Omoluabi Savings and Loans Dangote Cement (-4.0 per cent) and Plc and FCMB Group Plc accounted Lafarge Africa Plc (-2.3 per cent). The for 3.863 billion shares worth N3.013 NSE Consumer Goods Index went billion in 286 deals, contributing down by 2.3 per cent on account 89.45 per cent and 40.85 per cent of losses suffered by Dangote Flour to the total equity turnover volume Mills Plc (-4.9 per cent), Nigerian and value respectively. Breweries (-4.0 per cent) and Guin- Also traded during the week were ness Nigeria (-3.7 per cent). The a total of 55 units of Exchange Traded NSE Banking Index shed 1.6 per Products (ETPs) valued at N505.65 cent as a result of pro t taking in executed in 11 deals, compared GTBank (-4.7 per cent) and ETI(-4.2 with a total of 9,965 units valued per cent). Also the NSE Oil & Gas at N56,446.35 transacted the previous Indices lost 1.6 per cent on the week in 16 deals. A total of 5,100 back of losses by Mobil Oil (-5.0 per units of Federal Government Bonds cent) and Forte Oil (-4.6 per cent). valued at N5.120 million were traded The NSE Insurance Index recorded cent), and Caverton (-4.44 per cent) shares). share prices of Guinness, GTBank, this week in two deals, as against a 0.2 per cent as NEM Insurance also featured on the top laggards’ However, the market rebounded on Zenith Bank, Access Bank and FBN no bond transaction the preceding Plc and Custodian shed 9.5 per cent list for the day. Friday, as the NSE ASI appreciated Holdings were mainly responsible week. and 4.9 per cent respectively. Market performance, as measured by 0.15 per cent to close at 26,251.39. for the rebound. Investors traded by NSE-sector indices, showed that The appreciation recorded in the 210.20 million shares worth N1.51 Price gainers and losers Daily Market performance the NSE Banking Index and NSE The price movement chart showed The market opened the rst Insurance Index appreciated by TOP TEN BROKERS(BY VALUE) AS AT LAST FRIDAY that 18 equities appreciated, lower trading day of the year bearishly. 1.67 per cent and 0.71 per cent than 37 equities of the previous week. The market followed the same respectively. Conversely, the NSE BROKER VALUE VALUE Thirty-one equities depreciated in trend on the second day, leading Industrial Goods, and the NSE Oil CAPITAL ASSETS LIMITED - BRD , , , . . price, higher than 21 equities of the to a decline of 1.41 per cent in the & Gas shed by 1.81 per cent, and STANBIC IBTC STOCKBROKERS LIMITED ,, , . . previous week, while 126 equities rst two trading days of 2017 as 0.14 per cent in that order. remained unchanged higher than 117 some investors lock in pro ts while According to analysts at Meristem CSL STOCKBROKERS LIMITED , , . . equities recorded in the preceding others await government’s economic Securities Limited, Wednesday’s was EFCP LIMITED , , . . week. policy direction for year. The NSE affected by a decline in the share CHAPEL HILL DENHAM SECURITIES LTD - BRD , ,. . UACN Property Development ASI went down by 0.46 per cent price of Dangote Cement which MORGAN CAPITAL SECURITIES LIMITED , , . . Company Plc led the price gain- on Tuesday to close at 26,495.04. lost 4.01 per cent. ers with 14.5 per cent, trailed by VETIVA CAPITAL MANAGEMENT LTD , , . . Similarly, market capitalisation shed “Ex-Dangote Cement, the market United Capital Plc with 10.6 per N41.9 billion to close at N9.1 trillion would have returned 0.35 per cent. A.R.M SECURITIES LIMITED - BRD ,,. . cent. Access Bank Plc appreciated as a total of 17 stocks declined while While we expect the market to CARDINALSTONE SECURITIES LIMITED , , . . by 6.9 per cent, just as Eterna Plc, 14 stocks appreciated. close negative for the week, we READINGS INVESTMENTS LIMITED - BDR ,,. . FCMB Group Plc and Unity Bank Commenting on the performance, envisage that the market may gain Plc garnered 6.4 per cent, 6.4 per , , , . . analysts at Meristem Securities tomorrow(Friday) on the backdrop cent and 6.3 per cent in that order. Limited said: “The performance of bargain hunting activities on Other top price gainers included: can be ascribed to pro t taking stocks that have suffered price FBN Holdings Plc(4.4 per cent); TOP TEN BROKERS (BY VOLUME) AS LAST FRIDAY activities on some counters that declines recently and are trading UBA(4.0 per cent); Fidson Healthcare rallied towards the close of the prior at historically low levels,” they said. %VOL- Plc(3.9 per cent);and CAP Plc (3.1 BROKER VOLUME year. For the rest of the week, we The total value of stocks traded U M E per cent). expect a continuation of today’s on Thursday was N898.71 million, CAPITAL ASSETS LIMITED - BRD , , , . Conversely, NAHCO led the price trend, hence, we posit that the up by 2.88 per cent from N873.57 losers with 13.9 per cent, trailed MORGAN CAPITAL SECURITIES LIMITED ,, . market may close the week on a million recorded the previous day, by Cement Company of Northern negative note.” while the total volume of stocks STANBIC IBTC STOCKBROKERS LIMITED , , . Nigeria Plc with a decline of 13.4 For the third consecutive day, the traded was 137.69 million shares n in APEL ASSET LIMITED - BRD , , . per cent. N.E.M Insurance Plc and Nigerian equities market continued 2,488 deals. The most actively traded VETIVA CAPITAL MANAGEMENT LTD , , . Sterling Bank Plc shed 9.5 per cent on its downward trend on Thursday sectors were: Financial Services and 7.8 per cent respectively. Other CARDINALSTONE SECURITIES LIMITED ,, . with NSE ASI declining by 1.07 (110.66 million), Conglomerates top price losers included: Cadbury per cent. (11.13 million), and Industrial Goods CSL STOCKBROKERS LIMITED ,, . Nigeria Plc (7.6 per cent); Union Bank NAHCO, emerged the highest (5.38 million shares), while the three NEWDEVCO FINANCE SERVICE CO. LIMITED , , . (5.1 per cent); Mobil Oil Nigeria (5.0 loser for the day, shedding 9.49 per most actively traded stocks were: MERISTEM STOCKBROKERS LIMITED , , . per cent); Dangote Flour Mills (4.9 cent to close at N2.86. Guinness Fidelity Bank (25.05 million shares), per cent); Ashaka Cement Plc(4.9 CHAPEL HILL DENHAM SECURITIES LTD - BRD , , . (-5.00 per cent), Dangote Cement Diamond Bank (16.95 million shares) per cent) and Custodian and Allied (-4.94 per cent), Custodian (-4.88 per and United Capital (11.03 million , , , . Plc (4.8 per cent). THISDAY • MONDAY, JANUARY , BUSINESSWORLD INSIDE BROAD STREET

A view of Lagos ﬁnancial district AKINWUNMI IBRAHIM DMO to Sell N430 Billion Bonds in STATUS REPORT Heritage Bank First Quarter Offers N50m Grant Obinna Chima MARKET INDICATOR Infrastructure Funding The Debt Management Of ce (DMO) said Nigeria’s sovereign wealth fund is setting up to Entreprenuers it plan to issue between N340 billion to N430 a company in partnership with London-based billion of local-currency bonds during the productivity for the quarter rose to N713.7 local currency guarantee rm, GuarantCo to Heritage Bank Plc said it has gone into rst quarter of this year. per hour, compared to N636.3 per hour in enable pension funds to invest in Nigerian partnership with the Nigerian Young Profes- The debt of ce said on its website it would the second quarter. Notwithstanding the infrastructure bonds. sionals Forum (NYPF) in an initiative aimed auction N110 billion to N140 billion worth employment generation report, which was The Chief Executive Of cer, Nigeria Sovereign at supporting young entrepreneurs with grant of bonds maturing in 2021 and N85 billion released alongside the labour productivity Investment Authority (NSIA), Uche Orji, who of N50 million. to N105 billion in debt maturing in 2026. It index by the NBS Monday, January 2, the data disclosed this last week said the new business The grant was awarded to about 35 young will also sell N45 billion to N55 billion in came amid rising unemployment of 13.9 per will be launched in a few weeks’ time and entrepreneurs from agricultural, creative in- bonds maturing in 2027 and N100 billion cent during the quarter under review. The aims to overcome some of the challenges dustry and the information & communication to N130 billion of the 2036 debt. NBS further stated that the economy needed facing the nancing of infrastructure projects technology (ICT) sector after a rigorous and According to the debt issuance calendar, to generate 2.6 million jobs annually to hold in Africa’s most populous nation. transparent review process conducted by an the 2027 bond will be a new issue, in March. down the current unemployment rate, as the “The company will provide enhancements independent body, out of the tens of thousands The rest will re-open previously issued debt, country’s labour force is estimated to grow at for infrastructure bonds, and we believe this who applied for the grant. starting after January 18, Reuters reported. over 2.6 million per annum. According to the will make an effective platform for Nigerian The bank explained in a statement that the Africa’s biggest economy has proposed a job creation report, employment generation was pension funds to invest in them,” Reuters initiative was part of its contribution to help 2017 budget de cit of N2.36 billion for this insuf cient to meet the ever-growing labour quoted Orji as saying. steer the economy out of recession. year. The government hopes to fund it by market, leading to the continuous rise in the GuarantCo facilitates infrastructure develop- Speaking at a ceremony held in Lagos, the borrowing N1.254 trillion domestically and level of unemployment in the country. NBS ment in low income countries by providing Managing Director/CEO of Heritage Bank, N1.067 trillion abroad. But the government said the huge number of unemployed was a credit guarantees denominated in local currency Mr. I e Sekibo, who said the nation’s economy had struggled to fund the 2016 budget after reection of the current economic realities, as to nancial institutions and bond investors. had experienced severe economic downturn, a planned Eurobond sale and World Bank only few businesses are growing and employing It is funded by Britain, Switzerland, Sweden, af rmed that the 35 successful entrepreneurs loan were delayed. while many others are shedding jobs. the Netherlands and Australia, and specialises would be provided with the required guidance The Central Bank of Nigeria (CBN) last in frontier market infrastructure. on fund management as individual bene ciaries week sold N172.85 billion at its rst treasury External Reserves would get at most N2million each. bill sale of the year on Wednesday with yields Nigeria’s foreign exchange (forex) reserves NPLs Seen Rising Sekibo, who was represented by the Divisional unchanged from the previous auction, held continued the appreciation which it commenced Access Bank Plc last week said it was Head, Retail/SME, Mrs. Ori Ogba, stated that on December 21. Traders revealed that the about two months ago it closed at $26.094 expecting that the level of troubled loans the bank supported the initiative because of central bank sold N115.85 billion of one-year billion last Wednesday, according to latest in Nigeria will continue to climb before an its believe in Nigerian youths, who make up debt at a rate of 18.68 percent, the same as gures made available by the CBN. The current economic recovery in the second half of the about 80 per cent of the country’s population. the previous auction, traders said. They said value of the reserves, which is derived mostly year brings relief to the country’s lenders. He further explained that Heritage Bank was the central bank also sold N35 billion of 91- from the proceeds of crude oil sale represented “Across the entire industry you will see impressed with the nature in which talents day paper at 14 percent and N22 billion of an appreciation by $2.137 billion or nine per an uptick in non-performing loan ratios,” were sought out for, the rigorous selection six-month bills at 17.5 percent, unchanged cent, compared with the $23.957 billion it the bank’s Chief Executive Of cer, Herbert process and the integrity with which the overall from the previous auction. Subscription at was as at November 2, 2016, data gathered Wigwe, told Bloomberg in an interview. “We scheme was delivered. the auction came to N194.12 billion, well up by THISDAY showed. A source who spoke are better than most.” Sekibo expressed satisfaction in the long from N42.68 billion at the previous auction. with THISDAY on the condition of anonymity Nigeria’s fourth-largest bank by assets term sustainability of the initiative, stating, The central bank issues treasury bills regularly said the increase in the level of exports as expects that its non-performing loans (NPLs) “We will not support something that will not to help lenders manage their liquidity, curb well as the drop in imports in the country, will climb to “slightly below” three per cent stand the test of time.” rising ination and provide naira to help the following renewed import-substitution drive of total loans by the end of this year, Wigwe In his remarks, the Chairman/Founder of government fund its budget. The monetary by the central bank and federal government said, compared with 2.1 percent for the nine the NYPF, Mr. Moses Siasia, said the idea of policy committee had last November left the could be responsible for the appreciation of months through September. The picture is not the grant was born out of the desperation of benchmark monetary policy rate at 14 per the external reserves. as rosy for the rest of the industry as lower young Nigerians to build businesses in an cent. Ination also stood at 18.48 per cent THISDAY recently reported that the import crude prices and foreign-currency shortages economy fraught with a seemingly endless in December. substitution policies being driven by the central cause Africa’s largest economy to contract. onslaught of challenges. bank and the federal government appeared to Loans in the sector in danger of not being He explained that the society does not Jobs in Third Quarter be yielding results, as a country assessment repaid surged to an average 13.4 percent by encourage young talents and innovations, The Nigerian economy added 187,226 new report on Nigeria by the International Monetary the end of September, above the ve per cent while stating that the country is yet to tap jobs in the third quarter of 2016, from 155,444 Fund (IMF) recently indicated that a sharp threshold set by regulators. Access Bank is up to ve per cent of its youthful resource. jobs in the previous quarter, the National decline in imports contributed to a modest targeting companies that source their raw He called on all stakeholders to see youth Bureau of Statistics (NBS) revealed last week. recovery in Nigeria’s external current account materials locally for loans to reduce the risk growth as a priority for National develop- Also, THISDAY reported that labour balance in the rst half of 2016. of unpaid debt, the CEO said. ment.

Siasia commended Heritage Bank for its support to SME growth in Nigeria. According to him, Heritage Bank was the only bank that had entered into partnership with NYPF on this scheme after being turned down by other potential sponsors and appealed to all young people in the country to see the bank as their wealth partner. YESGrant Brand Ambassador Mrs. Stephanie Okereke-Linus congratulated the winners of the grants and praised Heritage Bank for its commitment to young people. She advised other banks to emulate Heritage Bank, while seeking bene ciaries to put the money received to good use. THISDAY • MONDAY, JANUARY , BUSINESSWORLD INTERVIEW Arumemi-Ikhide: Nigerian Airlines Recorded Huge Losses to Aviation Fuel, FX Scarcity in 2016 The Chairman of Arik Air, Joseph Arumemi-Ikhide spoke to Chinedu Eze on the challenges that hampered the operations of local airlines in 2016. Excerpts:

Arumemi-Ikhide

Arik Air must have lost huge revenue tion industry, not just Arik. Whatever we attracting foreign investment. And of course we do not sell their ticket because if we do when the unions stopped your operations do, we should understand that with all the people are watching, you will recall that one then we are liable to pay them in dollars. If for one day? dif culty in the country such action makes of the negative comments made by Richard somebody wants to go to China he pays us We had held talks with labour and we seem doing business in the country unattractive. Branson about Nigerian aviation has been in Naira, we pay Emirate in dollars. So look to be agreeing on certain issues they pointed By that action I hope they know that they haunting us. Branson said we don’t keep at it with even with the restriction of Central out, but suddenly they decided to call for are scaring investors away from the sector. agreements. Previous Ministers have tried to Bank of Nigeria (CBN), it is not appropriate strike, even when we have not concluded We must understand that the whole world explain it away but it has not been convincing for any Nigerian airline to go into interline our discussions. was watching and most of them were perplexed to international investors. arrangement with foreign airlines now. The Whatever their grouse may be, I don’t that the unions could do that from the responses Arguably Nigeria has the freest media in impact of the strike on Arik affected many think it is proper for them to be exaggerating we got, some people were surprised that the Africa, but we expect them to always ensure Nigerians because many of our passengers issues. It is true we had not paid our staff unions could do that and the authorities did they inform the public well. They should be were stranded in various parts of the world, for October and November, but they claimed not do anything to stop them, knowing the committed to facts and not peddle prejudices some in UK, South Africa and various airports we owed the workers seven months. That effect on the image of Nigeria in terms of or take one side of a story and be broadcasting, in Nigeria. I am aware that there are many is wrong and unprofessional. We know they especially when they have access to balancing of these travellers who decided not to cancel want to establish a union in the company the story. Arik Air never owed its staff seven their ticket because they don’t want to go to and we told them that they should give us months, so the television that broadcast that any other airline. So whatever we are doing time because most of the airlines they are report should have come to us. When you in this country we should think about the referring to are much moreolder than us. have reputation as a media outlet you should need to sustain the businesses that we have; Like British Airways which is over 90 years nurture that reputation. that is the way we can grow our economy. old, Ethiopia Airlines is over 70 years and I must say that it is not You can see the unfairness of that medium that is the same with other legacy airlines. and yet they keep awarding several media Let’s talk about the problem of inadequate What we said was that they should give just Arik, whether it is awards for many years consecutively to that supply of aviation fuel on your operations, us time and let us put our house in order. Medview, Dana, Air Peace, medium. When you bring in the so-called especially during the Christmas holiday? We will sit down and talk with them and expert on television he should go beyond Well fuel (Jet A1) is very necessary for air reach an agreement. We usually have normal we have all lost a lot of theories and talk about realities. We are the travel all over the world and Nigeria is an oil management meetings with the staff and the money, because we have ones wearing the shoe so we know where producing country but unfortunately there staff is free to air their views. I am aware it is pinching and those who go to talk on is no processed or re ned Jet A1 recently. I that most of the staff in Arik have their own to pay our ﬁnanciers. So I television should arm themselves with facts will speak for the industry generally. Since views, a few of them want to join the union think in other climes the from the eld before they go and talk on the devaluation of the naira, Jet A1 price has which we are not opposed to but majority television. increased tremendously from N105 in Lagos of them do not want to join. Be that as it government would have They talked about interline with foreign to about N230 in Lagos. Of course that means may, I think the message the action of the compensated us for these airlines. When you want to interline you have over a 100 percent increase and if you want unions sent out to Nigerians is that there is to follow the rules, including dealing with the uncertainty in doing business in the avia- huge losses. banks. We have interline with Emirates but CONTINUED ON PAGE MONDAY JANUARY , THISDAY THISDAY MONDAY JANUARY , THISDAY • MONDAY, JANUARY , BUSINESSWORLD NEWS Indonesia Penalizes JPMorgan for Negative Report

Indonesia has cut some ties controversies about their nega- analysts and bankers and altered recommendation as merely a After performing what Nazara nancing and risk management, with JPMorgan Chase & Co tive opinions. compensation structures to “tactical” response to Trump’s described as a “comprehensive told reporters that JPMorgan’s after the bank’s research analysts JPMorgan did the right thing prevent conicts of interest victory. They noted that review,” Indonesia decided to research should not have a issued a negative report on the by not backing down from its from affecting research. economies in both Indonesia drop JPMorgan as a primary major impact on Indonesia’s country, the latest in a series report, said Roy C. Smith, a But the conicts persist. and Brazil are improving, dealer and a so-called percep- future bond issuance, but the of skirmishes between Wall nance and management profes- Although pressure is usually with lower policy rates likely tion bank. A 2006 government sanction on JPMorgan would Street banks and governments sor at New York University’s less explicit than what JPMorgan to support valuations for 2017. decree says perception banks remain in place “until we say in emerging markets. business school. The bank faces in Indonesia, banks rang- Nazara, of Indonesia’s nance are appointed by the nance otherwise.” Indonesia will no longer use stands to lose relatively little ing from Morgan Stanley in ministry, said JPMorgan’s minister to receive transfers In 2015, Indonesia’s then- JPMorgan as a primary bond in Indonesia, where it does not China to Banco Santander in analysis “did not make sense” of state revenue not related to nance minister said that dealer and has also revoked a have much nancial exposure. Brazil have faced similar rows because it gave Brazil a better imports, including tax, onshore JPMorgan had been “sanc- special designation that allows “(It’s) a mistake by Indonesia, with governments in emerging rating than Indonesia, despite excise and non-tax revenue. tioned” for a negative report it to perform certain banking which needs JPMorgan’s sup- markets. what he said was a more A JPMorgan spokeswoman recommending less exposure services, Suahasil Nazara, head port and advice more than the In JPMorgan’s case, analysts stable political situation in the said that it continued to oper- to government bonds, but did of the Ministry of Finance’s bank needs Indonesia,” Smith led by Adrian Mowat down- Southeast Asian nation. ate its business in Indonesia not explain what the sanctions scal policy of ce, told Reuters. said. “No effort by governments graded their investment “We have asked them to as usual. involved. It is the second time recently unhappy with research calls recommendation on Indonesia clarify their assessment,” Nazara “The impact on our clients Banks have encountered a that JPMorgan’s research arm to ‘discipline’ the banks have stocks to “underweight” from said. “They’ve explained to us, is minimal, and we continue variety of problems managing has drawn ire from the Indone- been successful, though ef- “overweight” in a Nov. 13 note, but we found their argument to work with the Ministry of conicts in emerging markets. sian government, and highlights forts are made from time to and also downgraded Brazil not credible. It’s not that we Finance to resolve the matter,” In another high-pro le skir- the inevitable conicts banks time to satisfy local political equities to “neutral.” think we’re so great, but we she said by email. mish in 2006, Morgan Stanley’s face when their analysts express expectations.” They cited higher risk pre- look at ourselves and we look JPMorgan strategists have had head economist in Asia, Andy a negative view on a country or Global banks made changes miums for emerging markets at other countries’ economies.” a “neutral” recommendation on Xie, left the bank after a critical company that their investment to how they perform research after Donald Trump won the “Our mindset is, if you’re do- emerging market government email he sent about Singapore bankers are trying to court. in 2003, after a sweeping U.S. presidential election, ing business here in Indonesia, bonds, including those of Indo- was leaked. In 2014, Banco In other cases, banks have settlement with then-New predicting that higher volatility the spirit is to maintain stabil- nesia, since before the election, Santander publicly red an altered research reports, lost York Attorney General Eliot might stop or reverse ows into ity. Don’t create unnecessary a JPMorgan spokesman said. analyst who had published lucrative contracts or parted Spitzer and U.S. regulators. They xed-income assets. volatility to create business,” Robert Pakpahan, Indonesia’s a critical note about Brazil’s ways with analysts following erected hard barriers between The analysts characterized the he added. director general for budget economic policies.

Deutsche Bank to Pay $95m to End Tax Fraud Case

Deutsche Bank AG agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of tax fraud for using “in- solvent” shell companies to hide signi cant tax liabilities from the Internal Revenue Service in 2000. Under the accord described in papers led on Wednesday with the federal court in Manhattan, Deutsche Bank also admitted to trying to stick the shell companies with the tax bill for its then-new stake in drugmaker Bristol-Myers Squibb Co. The settlement resolves a lawsuit led in December 2014 that had sought to recoup more than $190 million in taxes, penalties and interest. “The government, through this action and settlement, has made Deutsche Bank admit to its actions designed to avoid taxes,” U.S. Attorney Preet Bharara in Manhattan said in a statement. Deutsche Bank spokeswoman Amanda Williams said in a statement: “We are pleased to resolve this claim and put these events from more than 16 years ago behind us.” The settlement marks the latest step in Deutsche Bank’s bid to resolve legal matters that in recent months caused investors to worry about its future, and whether it had enough capital. Last month, Deutsche Bank reached a $7.2 billion settlement in principle to resolve a U.S. probe of its sale of toxic mortgage securities. The tax case arose from Deutsche Bank’s early 2000 acquisition of Charter Corp, which had been sitting on a large unrealized gain in Bristol-Myers. THISDAY • MONDAY, JANUARY , BUSINESSWORLD NEWS Sales Practices a Key Risk to Banking General Motors Moving to System, says U.S. Regulator Sell Indian Plant to China’s SAIC Wells Fargo’s phony account it penalised Wells Fargo in declined to provide details and acquisitions among banks, scandal has spurred a top September for $185 million for said he could not give a public which could pose risks to banks’ A subsidiary of China’s top are being structured as some United States bank regulator years of allegedly opening ghost assessment on individual banks ability to manage information carmaker SAIC Motor Corp sort of asset swap, or whether to count sales practices as a chief credit-card and bank accounts in or the sector as a whole. systems and platforms and plans to acquire certain Gen- there would be payments risk to the country’s banking customers’ names or convincing “The of ce is currently controls. eral Motors ( manufacturing made by both parties for the system and to embark on a customers to add unnecessary looking at how the banks it It said that banks should assets in India, a ling with assets. A spokeswoman for wide-sweeping review of large accounts. has selected for review - large “consider the strategic implica- the country’s competition SAIC declined to comment. and mid-sized institutions. This is the rst time the OCC and midsized banks - handle tions of a lower interest rate watchdog showed on Friday. Sources familiar with the In a half-yearly report on has deemed sales practices a key their sales practices and then environment for a longer time The assets, which could matter had told Reuters threats to banks, the Of ce of threat, putting them on the same will expand its work in the near period,” give the Chinese automaker last April that the Chinese the Comptroller of the Currency level as hacking, low reserves, future based on the ndings,” “A persistent low and at a toehold in the Indian car carmaker was in discussions (OCC) last Thursday said it and a gathering storm of credit he said. interest rate environment market, will be acquired via to buy GM’s Gujarat plant now counts “governance over risk from signi cant growth in While he would not give continues to pressure some an Indian subsidiary of SAIC and had been evaluating car sales practices as a key risk loans and deteriorating lending a timeline for the review, banks and asset managers to that is yet to be incorporated, models to launch in India. issue.” standards. Curry said OCC staff have reach for yield by extending according to the ling with GM said in 2015 that it The of ce, along with other On a call with reporters, an “internal goalpost.” asset duration, taking additional the Competition Commission planned to stop production regulators, has been looking Comptroller Thomas Curry The OCC said it expects to credit risk, and looking for new of India. at one of its two plants in India at bank sales practices since said the review continues, but continue to see mergers and revenue channels,” it said. According to Reuters, as by mid-2016 and consolidate part of a side deal, General operations at one location. The Motors also plans to buy out Detroit carmaker’s Halol plant SAIC’s 9.2 per cent stake can manufacture up to 110,000 Lone Star Favoured to Buy Novo Banco in SAIC General Motors vehicles a year. GM also runs Investment - a joint venture a plant in Talegaon in the United States private equity a nal August 2017 deadline Banco. of conditions on its offer, but it it formed with the Chinese western state of Maharashtra rm Lone Star will work “tire- for the sale. But the central bank added was “deeply optimistic about automaker in 2009 to expand that has a capacity of about lessly” to reach an agreement “We will continue to that Lone Star set conditions Portugal” and its economic its presence in emerging 170,000 vehicles a year. with Portugal to buy Novo work tirelessly with the in its offer that could have an future, Brahin said. The rm markets like India, a separate Several foreign carmakers Banco, it said on Thursday after Bank of Portugal... and the impact on public accounts, promised to provide the capital ling showed. like GM, Volkswagen AG it became the top candidate to Portuguese Government to which it will seek to “minimise and expertise necessary to GM, in an emailed response (VOWG_p.DE) and Ford acquire the bank carved out of con rm a nal agreement to or remove in the deeper negotia- maintain Novo Banco as a “pil- to a Reuters query following Motor (F.N) have struggled collapsed Banco Espirito Santo. support Novo Banco for the tions that start now.” lar of the Portuguese banking the ling, said discussions with to ramp up sales in India, Portugal’s central bank said long-term bene t of its cus- The nance ministry wel- system,” he said. SAIC on the sale of Halol - its expected to be the world’s earlier it plans to hold further tomers, employees, creditors, comed the next stage of the The nance ministry wel- plant in the Western state of third-largest car market by talks with Lone Star after select- and the overall Portuguese negotiations aiming to overcome comed the next stage of the Gujarat - were progressing well 2020, and are now pushing ing it ahead of other prospective economy,” Lone Star Europe those conditions. “The govern- negotiations aiming to overcome and that the two parties were exports from the country to purchasers including China’s president Oliver Brahin said ment always underlined that those conditions. “The govern- working to secure necessary utilize idle manufacturing Minsheng Financial Holding in a statement. this sales process to private ment always underlined that approvals. capacity. and U.S. funds Apollo and The central bank said that investors must ensure that this sales process to private “We’ll share any progress Sagging sales and a Centerbridge. Lone Star’s proposal “is the there is no impact on public investors must ensure that at the appropriate time,” GM regulatory crackdown on Portugal had hoped to decide one that goes the furthest,” in nances or cost to taxpayers,” there is no impact on public said. diesel-powered vehicles had on the sale of Novo Banco by ensuring stability of the nancial it said in a statement. nances or cost to taxpayers,” It was not immediately forced GM to redraw its plans the end of last year, ahead of system and con dence in Novo Lone Star made no mention it said in a statement. clear whether the two deals in India. China’s ZTE May Slash about 3,000 Jobs

Chinese telecom equip- jobs at (rival) Huawei according to industry ment maker ZTE, which and are therefore branded database IDC. is facing United States as ‘unstable factors’,” ZTE chairman Zhao trade sanctions that said the manager, who Xianming said in his could severely disrupt is not in the handset New Year speech to its supply chain, is unit and asked not to staff that the company, slashing about 3,000 be identified. which has annual sales jobs, including a fifth The company declined of more than $15 billion, of positions in its strug- to comment. had “encountered its gling handset business in ZTE is the only Chinese biggest crisis in its 31 China, company sources smartphone vendor with year history”, accord- said. a meaningful presence ing to a transcript on The sources said the in the United States, the company’s official Shenzhen-based com- where its 10 percent WeChat account. pany, one of the world’s market share makes it He vowed to enhance biggest telecoms gear the fourth-largest vendor. internal auditing and makers, is axing about The U.S. Commerce De- said the company was 5 percent of its 60,000 partment first announced streamlining its manage- global workforce. in March that it would ment structure. Its global handset impose a ban on exports “In 2017 ... businesses operations will shed by U.S. companies to ZTE that don’t fit our stra- 600 jobs, or 10 percent for allegedly breaking tegic direction or with of the total, with the cuts Washington’s sanctions low output performance concentrated in China, on sales to Iran. will be shut, suspended, where it has been losing The ban has not yet merged or reconfigured, market share. come into effect follow- improving the company’s “Cuts in the handset ing a series of reprieves, core competitiveness,” business in China will the last of which expires Zhao said. be beyond 20 percent,” on Feb. 27, but if it does Internal memos seen by said a senior executive go ahead, the company’s Reuters show the com- who has been briefed supply chain could be pany also created four on the lay-offs, which severely handicapped. It new senior vice president are scheduled to be relies on U.S. companies positions in charge of completed within the including Qualcomm investment, internal first quarter. , Microsoft and Intel audit, compliance, and A local manager in for about a third of its tax, respectively. one of the company’s components. Revenues for infra- overseas branches said The uncertainty hang- structure vendors like a 10 per cent quota was ing over the company ZTE are also being given to shed staff in weighed heavily on squeezed as Chinese his department by the its business last year, telecom operators’ 4G end of January. with its worldwide networks near comple- “I was also given names smartphone shipments tion and revenues from that must go because they tumbling 36.5 per cent 5G development remain had tried to apply for compared with 2015, some years off. THISDAY • MONDAY, JANUARY , BUSINESSWORLD INTERVIEW

ARUMEMIIKHIDE: NIGERIAN AIRLINES RECORDED HUGE LOSSES TO AVIATION FUEL, FX SCARCITY IN

to look at it the airfares are going up but not re ecting the actual price of fuel. If you fully pass the high cost of aviation fuel to the passengers, nobody will y. But unfortunately the most disturbing thing is that it is even very scarce and that has affected the performance of the airlines. Sufce to say however, that the federal government warned its citizenry that because the country is in recession we all have to change our life style and we all have to bear some inconveniences. One of the consequences of economic recession is weak naira, which makes the price of anything that is imported costlier than it used to be before recession. I want to make one point clear. There is rumour that Arik Air cannot pay for fuel and that is why it is not getting fuel. That is not true. The fact is that we cannot get the volume of the product we need and it is more than total of what other commercial airlines need. For example, our ight to New York needs over 90,000 litres of aviation fuel. With 90,000 litres of fuel another domestic carrier can operate all its local routes and still have fuel in reserve. So the major challenge we have is getting the volume we needed to operate our ights. And we don’t just buy from any oil marketer. We have marketers that were recommended for us because of the type of engine our aircraft have. We have some approved marketers that we Arumemi-Ikhide purchase our fuel from. Remember recently, one of the major carriers had issues with Well, we have lost a lot of money, not the fuel situation, ights were disrupted. all our spares are changed at the right time. fuel it purchases from Lagos, it affected their just in revenue but we have some xed cost, So I sincerely hope that next year (2017) a They know that we have zero tolerance engines and the Nigerian Civil Aviation some of these aircraft have to be paid for better arrangement will be made and the for safety, and then they saw the training Authority (NCAA) had to carry out a lot by the nancial institution that gave you the marketers themselves will have to increase school we send our pilots to, we send then of investigations. And I think one marketer aircraft. And of course you know that with their facilities and be ready. to the best training school, CAE, Oxford or was suspended for a while before it was the devaluation of the naira you need more But on the whole, yes we are in recession we send to Boeing and the one in Canada. allowed to continue. So in Arik we have our naira to get more dollars. So it is a huge but then there should be better planning and All pilots are sent to the top training school preferred marketers because we have tested amount of money that we have lost and all forex should be made available to the marketers so when you have European certication both their products and we are quite satised with the airlines have all lost. I must say that it is to import fuel. You will remember that one for maintenance and operation, that means their products. And like you know, we are not just Arik, whether it is Medview, Dana, of the reasons Emirates pulled out of Abuja all aspect of aviation have been checked. the only one with EASA (European Aviation Air Peace, we have all lost a lot of money, and reduced its frequency in Nigeria from The good Lord has been very good to us. Safety Agency) safety certicate in West Africa because we have to pay our nanciers. So I three to one was because of fuel scarcity, Somebody started spreading rumours about and this is a no mean feat, so we can’t cut think in other climes the government would they mentioned it, so it is not a question us a few days ago, unknown to the person corners, we don’t have the same operating have compensated us for these huge losses. about Nigerian airlines are complaining and EASA certication result was to come out standards with other airlines. In order to If you look at when 9/11 (terror attack in complaining. And most of the foreign airlines and when it was released, the good Lord maintain and retain this safety certicate there United States September, 2001) occurred the go to Accra to go and pick up fuel to go has vindicated us that the person who wrote are certain process and procedures we have US government compensated the US carriers. to Europe and some of them go to Malabo that story was just writing something that to carry out and follow. It is something we During the period of volcanic ash eruptions (Equatorial Guinea). That tells you that there is untrue. And people tend to do some de- guard jealously and you will nd that our that affected ight operations to Europe and is serious problem and I know that Air Cote marketing but whoever is doing it has been operations are carried out with strict safety the Americas, the UK government compensated d’lvoire does a lot of tinkering, gets sufcient put to shame because this is a certication standard in mind. Be that as it may, I must also all the UK carriers, but here, we are left like fuel from Abidjan while coming to Nigeria, that was published by EASA themselves we say that the marketers we purchase from are that; nobody bothered about us. You know they do occasional top up and go. We have did not know it was coming out and then it very professional and we are quite satised. that the airlines have lost a lot of money no other country than Nigeria and this is our came out at the right time. Even when that In spite of that we still audit them and test during this period, especially this Yuletide base, so we feel the pinch more. rumour came we had the IOCs (International their product from time to time. period. You know also that as we get near Oil Companies) have sent their safety auditors to Christmas, it is a one- way business; even There have been rumours that Arik Air to us, they’ve come and then they were quite During Christmas period what is the when you are going (outbound) you are full, compromises safety standard and does not surprised at all the spares that we have. They number of ights you made in the previous but when you are coming (return) you are have spares for its aircraft. What is your witnessed our procedures and were quite years? practically empty. I will say that three to four response to these allegations? surprise that somebody could write such Christmas period we do almost about 136 days to Christmas most of the airlines are You know that for Nigeria to get category negative things about us. and 140 ights a day, in fact there is a year, just trying to operate most of these ights 1 safety status, Arik was the airline that was NCAA has come out to say that they have I think 2013 or 2014 before the elections we just to serve their customers. At the end of used by NCAA and the US Federal Avia- checked and they issued a release about our clocked about 146 ights a day and we had to the day your load factor even if it is at 100% tion Administration (FAA) and even for the airworthiness. I must commend the NCAA, deploy all our aircraft, we are talking about when you are going, when you are coming renewal of the Category 1 it was also Arik any time we have all these foreign inspectors, domestic, West Coast and international ights. on the average it is 50%. The peak of the that was used. And like I said earlier, we the NCAA will come around too. We have On the average we use almost about 550 to period is already over now and because of have part 129 FAA certication, so we can helped NCAA too because they had to adjust 600,000 litres a day but when we do ights y our plane ourselves into the US and into their own game with these various inspections to New York, London and Johannesburg, Europe. And the Israeli airspace CAA (Civil we have been having. So there have been a we up it up to about 750 to 800,000 litres Aviation Authority) came to Nigeria and they lot of discussions and to us having all these a day. But unfortunately in December 2016 carried out a check on us and found out international inspectors is a routine thing we were not able to do more than about 79 that we met all their safety standards, which for us. In fact, most of the time I don’t even to 80 ights and that was a struggle. And is very rigorous and stringent. I think only know when they come, we just nd out that let’s say quickly that I want to appreciate the Arik and Ethiopian airlines and South African our quality control and engineers have done efforts of the fuel marketers, they too have Since the devaluation of Airways met their stringent conditions. So everything. been working very hard, I know they have the naira, Jet A1 price has if Arik could do that, I think one should We have IOSA (IATA Operational Safety a lot of challenges and in my opinion I think give kudos to Arik. But most unfortunate Audit). We have nished IOSA for a long the government should make Forex available increased tremendously in Nigeria we don’t value our own, we try time; we have e-IOSA now, which is enhanced to these marketers to import aviation fuel. from N105 in Lagos to to pull ourselves down, say everything bad IOSA (an advancement of IOSA). We got Aviation is an engine for economic growth, about ourselves. IOSA about ve years ago and we have now it is not elitist as thought by some people and about N230 in Lagos. Of Just recently again we have been on this migrated to e-IOSA and I think we are the I know that PMS (petrol) affects everybody, course that means over European safety certication and we have rst in Africa to get it. IOSA is part of the for convenience of driving, movement within been on it for just a few months now. We air that we breath, we live with it as breath the country but the economic drivers of the a 100 percent increase have gone through everything they required, of air, so we comply with IOSA regulations, nation need Jet A1 to move around from and if you want to look at the authorities from Europe have come here, FAA, EASA, so safety wise we have tried one place to the other. I don’t think it is they have checked all our system, they have our best, you can only try your best and appropriate to think that Jet A1 is meant it the airfares are going observed us, they were here observing us leave the rest to God. So I don’t know what for the elite; no, it is not. I appeal that the up but not reﬂecting the for months. They have checked our stores, certication we need again on safety but we government should give equal urgency to they have checked our maintenance proce- have met all certication that is why if you provision of Jet A1. Apart from the Yuletide actual price of fuel. If you dures, they checked the background of our noticed we are the only one ying Nigeria period, in the last couple of months there fully pass the high cost engineers both our contract engineers and registered aircraft into US, UK, New York has been this serious shortage of the product local engineers, they have also checked the and when we were going to Dubai, we are with its astronomical price increase. of aviation fuel to the management of the airline, even the spares the only one. So we are proud to y the passengers, nobody will we buy and where we bought them from green, white and green. We look forward What are the projected losses due to and they looked at the procedures of how inadequate supply of aviation fuel? ﬂy. we change our spares and make sure that CONTINUED ON NEXT PAGE THISDAY • MONDAY, JANUARY , BUSINESSWORLD INTERVIEW

ARUMEMIIKHIDE: NIGERIAN AIRLINES RECORDED HUGE LOSSES TO AVIATION FUEL, FX SCARCITY IN

to having our brother Medview go through you want to leave it then give the airport the system and then be able to y Nigeria control, give everything to the local airlines; registered aircraft to London and to US and to yes they need to do that. If you say you Jeddah. We are looking forward in cooperating want to hands off aviation then don’t say with them and they are very decent people, you are concessioning the airport because they are not people who engage in negative you can’t concession and give the airports publicity and de-marketing like one of the to others, while the real work is being done local airlines. by the airlines. So you can’t just come and say you concession to this and this and then How has inadequate supply of foreign you now say we pay this and that. exchange affected your operations? So they should allow the body of airlines to In aviation 80 per cent of the input is in run aviation and then take care of the airports, dollars because we don’t manufacture the maintain them and control them. We would spare parts here. And even all the charges have made better progress some time ago, like over ight charges I am sure Medview when we applied to the government to give and ourselves have been had hit on this us a piece of land at Murtala Muhammed because we had to pay Europe control in Airport, Lagos to build our own terminal, foreign exchange and it is not in CBN rules. that request was turned downed. We wanted We found that the regulations of the CBN to build our own terminal. We wanted to do not take into cognisance payments for build a hanger in Lagos it was again turned international aviation. If you talk about over down. Can‘t see any progress has been made ight charges, you put in your paper to the within the last three years on that. bank they say sorry it is not part of the CBN rule. If you talk about even simulator training, How are Nigerian airlines going to come you should know that, yes we y internation- out of this recession? ally but most Nigerians like to pay in naira. Well, I think everybody has its own Even London-Lagos now for this season you strategy and the only way to come out of will nd that many Nigerians pay in naira it is if the airlines, I mean the functioning here. And we as Nigerian airline we cannot airlines come together and talk. They mustn’t refuse our countrymen from paying in their merge but I think it is lack of cooperation; local currency. That is the only way we can lack of discussing strategies to tackle the strengthen the naira because the more you go problem is what is worrying us. I think down to foreign airlines and pay then they confronting it alone will not help. We need will demand from CBN to take this money the cooperation of Air Peace and Medview out, then you are encouraging capital ight. and Dana to work together and form a body And we felt that this is the reason why the to strategise. One person cannot strategise, CBN should give Medview and us special so we need to strategise and look at it and concession, and give us the opportunity to buy actually get it done. If we don’t do that then forex. At least we have saved the country a lot Arumemi-Ikhide I think we are not going to get anything done of money that would have gone out as capital and that is the truth. The system is taking ight. They should also give other airlines anything happens, it is going to be in dollars. control, a lot of people have records of Arik, advantage of lack of corporation among us too to meet their spare parts requirements. So, I think there is need for us to understand a lot of nancial bodies have records about and again we should not allow armchair I am aware that one airline is in the habit of that the currency in aviation is in dollars. Arik, so they watch us and they know what critics and armchair operators to meddle using such funds meant for airlines for its Like I said earlier on Medview and ourselves, we are doing. So when people write whatever into what is not their business. A few of other sister company business and that I am we are taking naira from Nigerians who buy they want to write we don’t bother ourselves. them told me they have been in aviation for sure the CBN and the authorities can check. tickets, yes, we can spend the naira here, But let me comment on something. A week 50 years, all their life. I respect them, they We need to be very honest with ourselves, pay salaries and other things but we still ago I was watching a programme on AIT by have been there but they are not operating we need to be straightforward, the money need some dollars to pay for spare parts, Rev. Father George and he was talking about now and the challenges of that time and belongs to all of us Nigerians. services and other requirements. However, let people spreading false information. That was now are completely different. So as far as I The more capital ight we can save or me say quickly that this shortage of forex is even before this rumour came out. He said am concerned there is need for us to make prevent, the better. But then a few people are not peculiar to Nigeria. Our experience is that that people like bad news. Once they hear moves to talk to one another, interact with abusing it and they should not be allowed. the same thing is happening to us in Angola any bad news they go straight to the social one another, that is the only way. Somebody cannot have one or two aircraft and and Arik has some funds trapped in Angola media and spread false information that in Even though we make one ight a day to be requesting something in the neighbourhood since February 2016 and we have not been itself is bad and it is destructive to the society. UK, I know that in UK there is this body that of $26 million. It doesn’t make sense. I think able to get it out. We have made a lot of effort You don’t check, you didn’t conrm whether talks about the airlines, some of them make there is need for the CBN to work with the to the Angola Ministry of Foreign Affairs to what you have is correct or not you start about 20 ights a day, some three ight and airlines and put some regulations down to assist us. We have written to IATA and the passing it round. Any time you now get some one ight, so we have three categories check round tripping and abuse in the system. Angolan government is insisting that they good news and you have something that is but at the end of the day we still talk. Even Yes, there is scarcity of foreign exchange but have a serious problem of foreign exchange; serious nobody is going to believe it. So what in the repair of runway at Heathrow, we had what is there is that we should be able to that we should bear with them. So let’s not I am saying is that I never knew that EASA an input and to be fair to them in UK they use it prudently and use it justiably not heap all the problems at the door step of would release their certication about Arik, are quite reasonable. somebody having two or three aircraft and the Nigerian government. We even have this gentlemen went out and spread false asking for stated sum and yet people who some West African countries that used to information about us. And I was wondering People fear that the cancellation of ights, have six aircraft are asking for $5 million be exible, they are now tightening up,some why a highly respected person would get a ight delays during the last festive season and they can’t get it. Whatever savings we of our funds are tied up in some countries. text and start circulating it without checking. will affect the patronage of Arik as many can make as Nigerians, we need to save and But what I still appeal to the Central Bank There are some people I have respect for, people were disappointed with the airline. save our country. The country belongs to of Nigeria is to assist us to pay the over but when I see what they do my opinion We really apologise for those infractions. We us we have no other country than Nigeria ight charges because this is very important about them changes. This is because if you apologise to our customers. I want them to and we shouldn’t be wasteful. We need to both for Europe control, the Caribbean and cannot reason, cross-check their facts before understand that every airline wants to operate be prudent and I appeal to the CBN to call some other parts. spreading false information then their dignity and generate revenue. No airline will pay for a meeting, let us discuss it, let us put Let me humour you a bit, but it is a fact. In is questionable and their sense of reasoning huge sums of money and acquire aircraft a mechanism in place that will ensure that Angola we wanted to have our funds trapped is also questionable. This is because the issue and want to leave it on the ground. Aircraft only the needed foreign exchange is made there, which is in their local currency and we we are discussing about is that Arik has over is making money when it is in the air. The available for the local airlines. wanted to pay for the over ight charges to 600 pilots, if one pilot who was disciplined truth is that we have a decient system go to South Africa with their local currency decided to write against is because he knows and no matter how you make your plans, Recently Lloyd’s of London threatened to too and the Angolan government refused; the psyche of the public, he plays on their if any part of the process chain is decient stop insuring Nigerian airlines because of they said we should pay them in dollars. intelligence and then you now decided to it will affect your operation. We did not get their failure to pay their premium. How will Whereas they have our own money trapped take and spread it. enough aviation fuel to operate our ights. this affect airline operation in the country? there and we told them that you are refusing I read in the papers the other day that an Our fuel demand is about a total of what all Yes, I agree with Lloyds of London. Let your own local currency and you are saying Arik staff had an accident, if the person is the other domestic airlines need to operate us take this thing in two parts. Aviation I should get you dollars when I have a lot working in Arik he should have a name but all their ights. We promise that if the fuel is an international business even if you are of the Angolan currency trapped in your all the newspaper headline said that Arik supply is normalized today we wont have ying Lagos to Abuja, you are going to meet country and I can’t get it out, where am I staff had accident. So it looks as if all the such disruptions. people from other part of the world ying. going to get the dollars. public want is negative news about Arik. I also want our passengers to know that And of course if you are ying to London stopping an airline from operating because or New York or any other place, you have Is it possible that because of lack of forex Have you spoken to the government about you did not get your bag or your own ight it as an international business. So insurance some airlines may have aircraft that are the charges levied on domestic carriers by was cancelled cannot solve the problem; it will especially aviation is done in dollars and I due for maintenance but they may not take agencies? compound it. For example, your bag did not think these are one of the reasons I believe them out for checks? In think all domestic carriers have spoken arrive with you from London, another ight CBN should meet with the airlines, let us I can’t speak for other airlines. Let me speak with one voice. My brother in Medview wanted to go to London to go and bring the sit down, form a committee and we can put for Arik. Now we have scheduled maintenance the other day spoke extensively about it, bags, you refused that they should go. You some regulations down that will be easier to and whenever they are scheduled we carry the Chairman of Air Peace spoke about it have stopped the airline from going to get pay for. This is because when you are making out the maintenance, we cannot because and we have always talked about it. And the bags and you have complicated issues for your claims it is in dollars. For example, if of forex refuse to carry out this scheduled as far as I am concerned, it doesn’t make that airline. This will delay the airline from your aircraft is damaged you are going to maintenance. Like I told you, we have IOSA, sense. There are multiple charges, they are getting your bags. While we apologise to the pay in dollars because when you get to the we have EASA and FAA certication, so we expensive and they are not actually neces- airlines, we also plan to open a channel of place to repair it; you pay for the service in breathe safety like air in Arik. Mind you, we sary. The government itself has to contribute communication to ensure that our passengers dollars. If there is compensation, God forbid if are being monitored by European aeronautical something to air travel in Nigeria. If you say get the right information. THISDAY • MONAY, JANUARY , BUSINESSR ANAY SecureID: Deepening Local Capacity With a combination of entrepreneurship and new technology, SecureID has become Africa’s rst SIM card manufacturing company, writes Peace Obi

R-L Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, CEO, SecureID, Kofo Akinkugbe and Chairman, Board of Directors,Mr. Dotun Suleiman, during the inauguration of SIM card manufacturing

Uncommon approach most often combine those three components In her speech, the Chief Executive Adding that with the adoption of by domesticating its solutions, the they say gives uncommon result. together. It takes entrepreneurial Of cer of SecureID, Kofo Akinkugbe, superior technology, a world class chairman cited adoption as a major That may be the simplest way spirit, vision, drive and zeal to expressed gratitude to God for the production plant and standards, challenge to contend with. to describe the breaking of the make it happen,” he said. turnaround of event - the success story among others, that the company According to him, the telecoms uncommon ground by SecureID, a In a tour of the facility, Enelamah and most recently the expansion of is determined to remain a market companies are used to importing their leading smart card manufacturing and described the manufacturing plant as SecureID line of business into SIM leader in its line of business, and SIMs and they have their suppliers personalisation company in Lagos. being of world class standard and as card manufacturing. that SecureID is committed to local who have been in the business for Undeterred by seemingly harsh one example of federal government’s She disclosed that said if asked to content policy. a long time. investment climate, skeptics fear of economic diversi cation and backward title her speech, it would be: “Seeing “Our impact does not stop here as “These suppliers supply not just its survival in a foreign-dominated integration initiatives. Expressing is Believing.” this facility will continue to serve as Nigeria telecoms but global telecoms line of business, controlled by the con dence in the entrepreneurial According to the CEO, prior to the nucleus of our high tech manufactur- and because the companies themselves technologically advanced countries, the spirit of Nigerians, the minister noted incorporation and commencement of ing company. We are a 100 per cent are part of the global network, they entrepreneur and her team pursued that given a conducive environment, operations, not many believed her Nigeria company employing some of tend to centralise their procurement dreams, resolutely. And against all entrepreneurs could survive and dream. the nest young talents, particularly to realise economics of scale. odds, SecureID berthed on Nigerian contribute signi cantly in the economic “Whenever I shared my vision graduates. Ninety-eight per cent of “And so, when you will now say soil some 10 years ago and has development of the country. to the banking out space a num- our workforce are Nigerians. you want to domesticate some of remained committed to its vision. He added that the government ber of years ago, most reactions “I see the in nite opportunities in that, it is very dif cult to break into SecureID has not only weathered of President Muhammadu Buhari could be best described as mild Nigeria, not only in the economy but that market. This is another reason the storms but has emerged stronger is committed to partnering with the dismissal. Yet, we have remained also in the people. We are going to why we need government’s support. with many feathers on its cap – the private sector as part of its strategies undeterred. I remember in 2005 continue to make sure that even our Because left to the telecoms alone latest being the addition of SIM card towards the attainment of its goals when we made enquiries for our raw materials as much as possible without a small push or nudge manufacturing plant to its line of of diversi cation, job creation and rst German machines, the German are locally available. And one thing from policy, they will just do the business. industrialisation. representative at the point laughed that we are going to continue to do comfortable thing,” he said. At the inauguration of the rst SIM Speaking further, the minister noted at us. And when he asked where we is to backward integrate to make Noting that though the high card manufacturing plant in Nigeria, that an enabling environment is one want to use the machine, we said, sure that all the input to our local foreign exchange may also play in which is also the rst of its kind of the things the government needs to “Nigeria”, he said, “wow, Nigeria, presence here are locally available. the company’s favour, Suleiman in Africa, in Lagos the Minister of get right. According to him, creating Nigeria, okay.” And then, a few Also one area we are looking at is reiterated the need for government’s Industry, Trade and Investment, Dr. the right investment climate, ease years later, we approached another the recycling of our products and support through the instrumentality Okechukwu Enelamah, noted that it of doing business for private sector manufacturer for a press, you have recycling of our waste which also of policy. is uncommon to see a company that would enable Nigerian businesses got to see his reaction. can be an input for other industries,” “What is playing in our favour could combine the three components to survive and prosper. “But today, we are very proud she said. is what is happening to the high that the administration has identi ed “As a country and as a government, to be located here with SIM card Describing the journey so far as both foreign exchange rate because what we as being strategic to industrialisation, we must support more and more of manufacturing facility functions. tough and ful lling, the Chairman, produce is produced locally, marketed economic development and general our entrepreneurs to pursue their Now, SecureID stands to be the rst Board of Directors of the company, in naira and they are paying in naira. well-being of the economy. dreams and vision and allow them to end-to-end SIM card manufacturing Mr. Dotun Suleiman hinted that So, the foreign exchange challenge Stating that it takes a strong reach their full potentials,” he said. plant in Africa. And we have set out to though faced with a lot of challenges, is our major advantage. But even in entrepreneurial spirit and zeal Assuring the company of govern- take advantage of the telecoms space. the management of SecureID had spite of this advantage, they still need to drive a vision as broad and ment’s support, Enelamah said: “We And again, of course our vision is to remained resolute. to be nudged a little bit. Government technical as SecureID, Enelamah are very committed in the area of remain a global brand and market “It has been a long and ful lling has been supporting but much still said: “What I nd very interesting nancing. I want to acknowledge the leader in card solutions. The plant journey. It has been hard, it has been needs to be done,” he said. is that the company we are sort of BoI for their support for SecureID as it is has a current capacity of 200 tough but it has been very satisfying The acting Managing Director, Bank celebrating today is an interception and many other players. They have million cards per annum. and ful lling. When you start with of Industry, Waheed Olagunju, in his of three things that are vital to us our full support to actually assist “Now, with the inauguration a vision and actually see your vision remarks applauded management’s as a country and to this government the industrialisation of Nigeria. So, of this manufacturing plant, we come to light in your lifetime, that investment decision and disclosed in terms of our strategy - entre- what I can assure you is that we are well positioned to provide is truly ful lling,” he said. that the venture was supported based preneurship, manufacturing and will continue to support you, to add proximate services to the telecoms Enumerating some of the hurdles on its potential to positively impact whole technology and telecoms value to employment generation and industry bringing the same superior the new product may encounter as the domestic consumption, aid technol- space. It is not often easy to get improve on the administration’s technology they have always enjoyed company pushes further on its drive to ogy transfer and create employment a company that can somehow import substitution strategy.” but produced locally.” take advantage of the telecoms space opportunities in the sector. THISDAY • MONDAY, JANUARY , BUSINESSWORLD PERSPECTIVE Getting the Nigerian Economy out of Recession Rislanudeen Muhammad looks at how the economy plummeted into a recession and what can be done to reverse it

Nigeria’s 2016 budget was real term. necessary to have clarity on foreign tagged budget of economic In analyzing proposed medium exchange policy for example to recovery and growth strategy. It term borrowing of $29.9 billion, assure foreign and local investors was aimed at pulling the economy we have to look at several who are expected to bring in the out of recession and stag ation. exogenous and endogenous factors. dollar liquidity badly needed Africa’s largest economy slipped While existing debt to GDP ratio to correct the market, deal with into recession second quarter of at 14 per cent and proposed scal imported in ation, build in a more 2016 having had two consecutive borrowings of 2.18 per cent of coherent public private partnership quarters of negative GDP growth GDP are still healthy, we need that will address our infrastructure rate. The economy contracted to be careful by looking at net challenge estimated at over -0.36 per cent in rst quarter and revenue to GDP which is weak as USD350 billion. With a GDP size of -2.06 per cent second quarter 2016, well as current Debt Management over N100 trillion, 2017 budget is further sinking into recession Ofce(DMO)’s debt sustainability only about seven per cent Nige- with -2.24 per cent GDP in third analysis report which capped total ria’s GDP. We should engage more quarter of 2016. Fourth quarter of domestic and foreign borrowings in articulating clear policies that 2016 data in unlikely to take any at $22.08 billion. It is however will encourage both private foreign different trajectory. important to note that due to lack and local investment in areas like Nigeria’s recession deepened in of any scal buffer in savings, power, Agriculture and Agro allied the third quarter and oil produc- Nigerian government today do not businesses, mining and developing tion fell, the National Bureau have any option of nancing its small and medium enterprises by of Statistics (NBS) reported late budget other than through borrow- putting in place clear incentive November 2016 as dollar shortage ing. Indeed the 2016 budget itself measures as well as realistic and kept Africa’s biggest economy in was premised on decit nancing consistent monetary, scal and a stranglehold. Nigeria’s Q3 GDP to the tune of N2.2 trillion out of trade policies. contraction was largely caused by which 1.8 trillion naira was for Even though the value of capital declines in oil and manufacturing capital expenditure. In a period importation into Nigeria in the sectors output, down by -22.1 per of recession where the economy third quarter of 2016 fell 34 percent cent and -4.38 per cent respectively. has contracted for three quarters compared to same quarter of 2015 This re ects the continued foreign consecutively and still counting, to USD1.822 billion, it is still an im- exchange shortages and sub- the plausible way to pull ourselves provement as that gure represent optimal crude oil output due to out of it is by way of re ating the over 74 per cent quarter on quarter attacks on oil facilities in the Niger Buhari economy through massive invest- improvement in capital importa- Delta. Given the persisting dollar ment in infrastructure, income and tion compared to second quarter illiquidity and volatility in Brent ation because of negative interest poor and vulnerable is gradually job creating sectors like agriculture, of 2016, a major improvement crude price, IMF projection of -1.8 rate and keeping monetary policy heading into Hobbesian state of mining and manufacturing, in foreign capital in ows since per cent GDP for year end 2016 rates high with hope of attracting nature. public private partnership etc with beginning of recession. This, may seem to be more than a reality. foreign portfolio investment The 2017 medium term multiplier implication of increasing in part vindicate CBN’s decision Meanwhile, Moody’s analysts were (especially in the xed income economic framework and scal employment and jump starting not to reduce rates to support rather optimistic that Nigeria ‘s markets whose rates are tied to strategy paper had a very optimis- the micro economy. To that extent, growth while focusing on attacking GDP could expand by 2.5 per cent MPR) and also improve liquidity tic anticipation of Nigeria getting the budget was rightly structured in ation and hence incentivizing in 2017 provided oil output of 2.2 in foreign exchange market. That out of recession by 2017. Indeed to deal with that challenge of foreign direct as well as portfolio million barrels daily is achieved, has naturally traded off the growth while 2016 budget was anchored stag ation and recession. However investments especially in xed a tall order given the sabotage act we needed to pull the economy on re ating the economy and we need to be careful in ensuring income market given the high by so called Niger Delta avengers. out of recession. pulling it out of potential recession we borrow for capital expenditure monetary policy rate of 14 per cent. The NBS report came a day before Meanwhile, many deposit as at then, 2017 was premised on only, on projects that will generate The hope was for such improved a major November interest rate money banks have granted their recovery and growth. What hap- growth and support repayment of capital in ows to improve dollar decision by the Central Bank in customers dollar denominated pened? What went wrong to the the loan. We should not borrow liquidity and allow manufacturers period of galloping in ation that loans while their cash ow and extent that the economy slipped for consumption. Notwithstanding import critical inputs to jump has peaked to 18.48 per cent in repayment source is in naira. Major deeper into recession and will our estimated debt to GDP ratio start the economy, improve GDP November 2016. Dollar scarcity short-term advantage is improved 2017 budget get us out of it? 2016 of about 14 per cent, which is growth rates and eventually reduce in an import dependent economy dollar liquidity and single digit budget provided for N1.8 trillion low for an emerging economy like unemployment rate currently at has pushed prices high and interest rate on dollar loans as capital expenditure or 30 per cent Nigeria, our current debt prole 13.9 per cent. Ours is still import further exacerbated by currency against highly expensive, double of total budget and N2.2 trillion of about N16.3 trillion is already dependent economy. While restrictions hitherto imposed to digit naira loans. However, due in decit funding. Capital expenditure becoming a source of concern due government should be focused on defend the naira. Fiscal spending large part to depreciation of naira performance is low in 2016 due in in large part to our dwindling reducing dependence on imports has been slow notwithstanding the exchange rate as well as persistent large part to inability of govern- revenue especially from oil. The for basic needs like food as well fact that decit nancing to re ate excess demand for dollars, loan ment to get the required loans sum of N1.6 trillion is set aside as export income diversication, the economy towards growth and repayment become difcult or near needed to nance the decit. 2017 for debt servicing alone in 2017 improvement in capital importa- away from recession was projected impossible. More so, loans granted capital expenditure is projected at budget. We must therefore borrow tion should in medium term in 2016 budget. In the meantime, in dollars were largely booked N2.24 trillion also 30 per cent of with caution to ensure optimality support dollar liquidity and help Central Bank’s monetary policy without hedging against exchange total budget while total borrowings in both borrowing as well as our in stabilising naira exchange rate committee concluded its last meet- rate risk. With Nigerian economy will be N2.3 trillion or 2.18 per cent spending pattern. provided the central bank deals ing for the year in November 22, in recession, even naira loan of GDP, disaggregated as N1.067 While budget 2016 unrealistically with glaring opportunity for round 2016 and unsurprisingly agreed repayments are becoming difcult. trillion or 46 per cent external projected exchange rate of N199 tripping, arbitrage and speculative to retain monetary policy rate at This pose the risk of worsening borrowing and N1.254 trillion or to a dollar, 2017 budget projected demand given the huge dispar- 14 per cent. Fixed income market non-performing loans, already at 54 per cent internal borrowing. another unrealistic gure of N305 ity between ofcial and parallel continued to re-price assets in tune 11.7 per cent, above ve per cent Oil benchmark of $42.5 a barrel to a dollar. In view of current market rates. As part of measures with in ationary trend. October CBN maximum risk tolerance level is realistic given the current and distortions in the market, while to get out of recession, improved treasury bills nominal rate for per cent CBN June 2016 nancial projected near term price of above naira was overvalued in late 2015 investor condence is needed to example was 17.48 per cent and stability report. Over time, key $55 a barrel. Provision of N65 bil- to part of 2016 before adoption of bolster liquidity in the foreign because treasury bills and bonds CBN prudential ratios like capital lion in 2017 as against N20 billion exible exchange rate, it may be exchange market. In attempting to are not taxable, real rate is around adequacy and liquidity ratios may in 2016 for Niger Delta Amnesty undervalued now with net ben- eliminate the wide spread between 24 per cent. Foreign portfolio be difcult to be met by banks may be an attempt to deal with eciaries at both situations being the ofcial and black market, investors (FPIs) stand to benet. exposed to dollar loans without the sabotage activities as without speculators and rent seekers. Even government should work towards But such incentive measure has commensurate dollar cash ow. optimal production level of 2.2 though tax revenue to GDP ratio is improving credibility of the foreign yet to improve the dollar liquidity A call for rate reduction to million barrels a day, projected low at about 12 per cent post GDP exchange market by discouraging as the FPIs seem to think about support cheaper local borrowing income may not be attained and rebasing, the scal budget did not hoarding of local currency and other factors beyond rates in taking by the government was advocated decit level further accentuated. anticipate any increase in tax but speculative demand as well as investment decision. by the Honourable Minister of The budget also projected income rather work towards enhancing maximally sanctioning incidences NBS reported further increase Finance just before the September diversication with projected non efciency of existing tax collection. of round tripping and arbitrage. in November 2016 consumer price 2016 MPC meeting. Without oil and other revenues of N1.583 This is a right decision as you This will enhance foreign portfolio Index which measures in ation to prejudice to CBN’s independence, I trillion as against N1.985 trillion don’t raise taxes in period of as well as diaspora participation 18.48 per cent year on year, 0.15 think it is time to have an effective oil revenue. As in 2016, there may recession until at least the economy in the market, improve liquidity, percentage points higher than 18.33 synergy of monetary, scal and be high budget performance in starts recovering. support GDP growth and employ- per cent recorded in September trade policies as for umpteenth recurrent, loan repayments and The President in his budget ment, and reduce cost of doing 2016. Increases were recorded time, it is becoming clear that lack other obligations but low in capital speech did mention the underlying business by taming in ation and across all major divisions, which of harmony in policies will not expenditure aspect of the budget in imperative for aligning scal, ultimately reducing the unbearable contribute to the Headline index. get the economy back on track. 2017 provided revenue as well as monetary and trade policies. This misery index. With an economy in recession, With consistent, month on month borrowing estimates are not met. is important as those policies have suffering from stag ation and in ation increase from 9.6 per In fact while the 2017 budget is hitherto worked at cross purposes ..Rislanudeen is an economist and largely import dependent, it is cent in January to 18.48 per cent big in nominal term, it is actually and seem to contradict rather former acting Managing Director of difcult to think about taming in- in November 2016, life among the smaller than that of 2016 in dollar than complement each other. It is Unity Bank Plc MONDAY, JANUARY , • THISDAY BUSINESS/MONEYGUIDE Survey Shows PMI Rose Five-month High in December Nume Ekeghe output prices. The headline PMI based, as new export orders also rose to its best level in the last lowered. Inationary pressures The Stanbic IBTC’s Purchas- ve months, perhaps indicating weighed on consumer demand, ing Managers’ Index (PMI) has that underlying macro-economic according to several survey indicated that the index attained bottlenecks are being resolved. respondents. Meanwhile, rms a ve month high, which was Having said that, most other continued to work through their a reection of an improvement facets of activity continue to outstanding business levels in in the macroeconomy. deteriorate as new business December. Although the rate This emerged after the Central orders returned to contraction of deterioration eased to the Bank of Nigeria (CBN) revealed territory. slowest in four months, it that its Manufacturing PMI “In addition, after recording remained strong in comparison stood at 52 index points in marginal growth in October, to the three-year series average. December 2016, also indicating employment extended its recent Job cuts in Nigeria’s private an expansion in the manufactur- decline from November into sector were evident for the ing sector during the review December. The price PMI sub- second month in a row. In period. The central bank’s PMI indices on the other hand show fact, the rate of job shedding index had recorded decline in that underlying inationary was the fastest in the series the preceding eleven months. pressures may be subsiding, history, despite being relatively Continuing, Stanbic IBTC as while output prices continue moderate. Nigerian businesses explained that the headline to increase, they are doing so raised output prices again in gure was derived from its at a slower pace compared to December. The rate of ination Purchasing Managers’ IndexTM earlier in the year. In summary, was marked despite slowing (PMITM). Readings above 50.0 it is perhaps still too early to since the previous month. signalled an improvement in ascertain if a turnaround in Moreover, output charges rose business conditions on the Nigeria’s economic challenges is at a stronger pace than input previous month, while readings imminent as anecdotal evidence prices. Nigerian private sector below 50.0 show a deterioration. still suggests that many of the rms commented on exchange At 48.1 in December, up from productive sectors continue to rate depreciation, rising delivery November’s 47.7, the headline struggle with foreign exchange costs and higher foods prices gure rose to a ve-month needed to boost domestic as the main factors driving high but remained below the investment and consequently, ination. crucial 50.0 no-change mark. growth.” For the fth time in as many It therefore signalled a further Furthermore, it stated that the months, input buying in the contraction of Nigeria’s private main ndings of the December private sector of Nigeria de- MARKET INDICATORS sector. Moreover, the latest survey were the weakening of creased. The rate of decline was gure lengthened the current Nigeria’s private sector stemmed little-changed from November, MONEY AND CREDIT STATISTICS (MILLION NAIRA) downturn to eight successive from a slower decline in output, with rms linking the fall to a JUNE months. with panel members citing lack of working capital. That Commenting on December’s weaker underlying demand. said, pre-production inventories Broad Money (M) , , . accumulated at a fractional rate survey ndings, Ayomide Furthermore, business activity -- Narrow Money (M) , ,. Mejabi, Economist at Stanbic has decreased in every month in December. IBTC Bank said: “The rate of since February. Finally, suppliers’ lead times ---- Currency Outside Banks ,, . contraction in Nigeria’s private The latest survey data shortened in Nigeria’s private sector slowed in December as signalled a return to contrac- sector during the month. ---- Demand Deposits , ,. a result of weaker declines in tion territory for new business However, the rate at which -- Quasi Money ,,. output and new export orders following a marginal increase in vendor performance improved as well as a slower increase in November. The fall was broad- was only slight. Net Foreign Assets (NFA) ,,. Net Domestic Assets(NDA) ,, . FirstMobile App Increases Daily -- Net Domestic Credit (NDC) , , . ---- Credit to Government (Net) ,, .

Transactions Limit ---- Memo: Credit to Govt. (Net) less FMA , , .

First Bank of Nigeria Limited banking transactions on the bills payments; cheque services ---- Memo: Fed. and Mirror Accounts (FMA) - , ,. has announced increased trans- go from their mobile phones including con rm cheque and ---- Credit to Private Sector (CPS) , ,. action limits on its FirstMobile anywhere in the world. stop cheque; ight booking; and Lifestyle app to a maximum A statement from the bank quick account services such as --Other Assets Net -,,. daily limit of N150,000.00 at the weekend explained that account balance inquiry, state- Reserve Money (Base Money) , ,. without the use of a token and the banking app comes with ment view and much more,” a total daily transaction limit of a user-de ned transaction pin the statement added. --Currency in Circulation , ,. N1 million. which is an extra security In December 2016, FirstMobile --Banks Reserves ,, . This development was feature and customers can also recorded a milestone in its user expected to boost convenience perform the following actions numbers with the attainment of • and ease of banking as well on the enhanced app: change one million active users while as enhance customers’ digital transaction PIN, reset transaction over N1.3 trillion transaction MANAGED FU NDS banking experience in line with PIN, synchronise token, and volume had been consummated the bank’s commitment to offer change their log in pin – mPIN. using the FirstMobile app since Initial Price (N) Buying Price(N) Selling Price value-added services that suit “With the integrated its launch in 2015. Stanbic Balanced Fund , . , . the lifestyles of its customers. lifestyle mobile banking app, According to the Head, FirstBank had launched customers can enjoy real-time Digital Banking at FirstBank, Stanbic IBTC NEF , . , . , . . FirstMobile as part of its drive mobile banking services such Mrs. Folasade Femi-Lawal, the Stanbic SIBond . . to leverage evolving technol- as domestic funds transfer bank will continue to leverage ogy in providing cutting-edge from self-owned accounts to evolving technologies to support Stanbic IBTC Ethical . . banking services to its customers FirstBank accounts and other consumers’ lifestyle by providing Stanbic IBTC GIF . . and the mobile banking app banks’ accounts; make quick them with a suite of nancial UBA Balanced Fund . . which is secure and easy to airtime purchase for self and options in a convenient and use, allows users to carry out others on all mobile networks; highly secure environment. UBA Bond Fund . . UBA Equity Fund . . 12 Winners Emerge in Sterling Bank Promo UBA Money Market Fund . . ARM Aggressive Growth Fund N. N. Sterling Bank Plc said it made each while over a thousand won among Nigerians. 12 of its customers millionaires N50,000 each. The Sterling Bank disclosed ARM Discovery Fund N . N . in its ‘New Sterling Bank Sterling The newest millionaires that the season three of the ARM Ethical Fund N. N. Plus Cash Reward’ promo last were Mr. Ekiwu Daniel of promo would commence soon, ARM Money Market Fund . (Yield ) year. Okpara branch, Enugu of the adding that all customers with According to the bank, other Bank and Yaya Saidu Habu a minimum balance of N5,000 • winners also emerged in other of Unity Road branch, Kano. automatically qualify for the OPEC DAILY BASKET PRICE AS AT DECEM BER categories of the promo with They were selected during the draws with one ticket while a total payout of N80 million. El-Malud and Christmas draws subsequent multiples of N5,000 The price of OPEC basket of fourteen crudes stood at . a barrel on Wednesday, compared The New Sterling Plus is a new via an electronic rafe draw and result in additional tickets. The proposition for the retail segment winners emerged from various bank described the Sterling Plus with . the previous day, according to OPEC Secretariat calculations. The new OPEC of the market. parts of the country. account as a hybrid offering with Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol A statement from the Sterling Bank’s Group Head, the promise of many goodies (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic bank indicated that from the Branding and Communica- and freebies such as free Lenovo breakdown of the winners in tions, Mr. Henry Bassey, said smartphones pre-loaded with of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar the 2016 edition of the promo, the promo was instituted to cool nancial and entertainment Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). 25 customers went home with reward customer loyalty and applications among others for SOURCE: OPEC headquarters, Vienna N500,000 each, 80 won N100,000 encourage a savings culture individual customers. MONDAY, JANUARY , • THISDAY MARKET NEWS UPDC, United Capital, Access Bank Opens 2017 on Positive Note Goddy Egene and Nosa ve stocks witnessed signi cant overall negative performance by results of company. in 2016, up from N4.088 billion N1.910 billion to N3.170 billion. Alekhuogie appreciation in their prices. the market in the past one year. United Capital Plc had last in the corresponding period of It followed that with a highly UPDC led with 14.5 per cent United Capital had delivered year recorded an impressive 2015. Investment income grew impressive performance for Investors in UACN Property rise, followed by United Capital an impressive return of 108.4 performance and rewarded soared from N491 million to the half year to June 30, 2016, Development Company (UPDC) with 10.6 per cent. Access Bank per cent to investors in 2016 shareholders with a dividend N2.612 billion, while net operat- growing PBT by 47 per cent. Plc, United Capital Plc, Access Plc went up by 6.9 per cent, before added another 10.6 per of 35 kobo per share. ing income settled at N5.132 The Group Chief Executive Bank Plc, Eterna Plc and FCMB while Eternal Plc and FCMB cent last week. The company is already billion compared with N3.722 Of cer of United Capital Plc, Group Plc have started counting Group added 6.4 per cent and Market operators attributed heading for another impres- billion in 2015. Mrs. Oluwatoyin Sanni ex- their gains at the stock market. 6.3 per cent respectively. the consistent high demand for sive year in 2016 going by its Pro t before tax grew by pressed optimism that the Although the market recorded a For the shareholders of the shares of United Capital, which nine months ended September 65 per cent to N3.962 billion company would consistently decline of the 2.3 per cent in the United Capital, it has been a led to the capital appreciation, 30. According to results, gross in 2016 from N2.397 billion, deliver value to all stakehold- rst trading week of 2017, these very bullish period despite the to the impressive nancial earnings stood at N5.689 billion while pro t after tax rose from ers.

THE NIGERIAN STOCK EXCHANGE NAY, JANUARY 9, 2017 • THISDAY MARKET NEWS NSE CEO Unveils Measures to Improve Market Performance

Goddy Egene by 6.17 per cent in 2016. Also, by 15 per cent (78.90 billion the different sectors of rst half of 2017, on the back According to the rm, the volume and value of trading units in 2016 vs 92.83 billion economy in the year. The weak of sustained gloomy state of Meri-Agri Index returned 26.45 The Chief Executive Of cer of dipped last year. units in 2015) and 41.33 per investor sentiment was also the economy, as FX pressure per cent to outperform other the Nigerian Stock Exchange Investors staked had cent (N557.75 billion in 2016 compounded by the attractive continues to plague companies. sectors in the market for the (NSE), Mr. Oscar Onyema, will N557.75 billion on 78.90 vs N950.66 billion in 2015) interest rate environment We, however, do not rule out second year consecutively. on Thursday unveil plans to billion shares in 2016, showing respectively. in the year amid the rising the possibility of a positive “The sector’s positive reposition the exchange and a decline of 41.33 per cent The analysts explained that inationary pressure, which return in 2017, as we expect performance was steered by the stock market in general compared with N950.66 billion activities in the market was made xed income investments the higher crude production the usual suspects- Okomu Oil for better performance in 2017. invested in 92.83 billion shares tempered during the year, as a safe haven for investors,” and price stability, coupled Palm Plc (+32.57 per cent) and Apart from unveiling in 2015. evidenced by the decline in they said. with effective execution of Presco Plc (+21.52 per cent), plans to reposition the market, According to analysts at volume traded and market Looking ahead, MSL said 2017 budget, to bode well while Livestock Feeds Plc Onyema will also appraise the Meristem Securities Limited turnover. they expect a spill over of these for the Nigerian economy in (36.84 per cent) depreciated market performance in 2016. (MSL) said participation in “We attribute this dull sentiments into the rst half the coming year,” they said. in value for the year. Other The market recorded its third the market was weak, as the mood to weakened investors’ of 2017. In their sectoral review, counters (Ellah Lakes Plc consecutive decline in 2016. volume traded and market appetite given several “We expect a spill-over MSL said the agriculture and FTN Cocoa) traded at Speci cally, the NSE declined turnover for the year pared headwinds that pervaded of these sentiments into the sector led the outperformers. throughout the year,” they said.

A Mutual fund (Unit Trust) is an investment oor of the Nigerian Stock Exchange. Offer price: The price at which units of a trust or vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors. Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return. etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the 05-Jan-2017, unless otherwise stated. assets held by a REIT on a speci c date. DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS LOTUS CAPITAL LTD ﬁ[email protected] Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 AFRINVEST ASSET MANAGEMENT LTD [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.afrinvest.com; Tel: +234 1 270 1680 Lotus Halal Investment Fund 1.00 1.02 0.00% Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Fixed Income Fund 1,011.23 1,011.23 0.13% Afrinvest Equity Fund 126.02 127.13 -0.59% MERISTEM WEALTH MANAGEMENT LTD [email protected] Nigeria International Debt Fund 213.89 215.40 0.47% Web: www.meristemwealth.com ; Tel: +234 1-4488260 ALTERNATIVE CAPITAL PARTNERS LTD [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Meristem Equity Market Fund 9.58 9.67 -0.83% Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Money Market Fund 10.00 10.00 14.98% ACAP Canary Growth Fund 0.69 0.70 -1.17% PAC ASSET MANAGEMENT LTD [email protected] AIICO CAPITAL LTD [email protected] Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.aiicocapital.com, Tel: +234-1-2792974 PACAM Balanced Fund 1.05 1.07 6.65% Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Fixed Income Fund 10.37 10.54 0.28% AIICO Money Market Fund 100.00 100.00 17.06% PACAM Money Market Fund 10.00 10.00 15.09% ARM INVESTMENT MANAGERS LTD [email protected] SCM CAPITAL LIMITED [email protected] Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 12.51 12.88 2.63% SCM Capital Frontier Fund 109.19 109.96 7.18% ARM Discovery Fund 290.95 299.72 4.10% SFS CAPITAL NIGERIA LTD [email protected] ARM Ethical Fund 22.57 23.25 2.35% Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn ARM Money Market Fund 1.00 1.00 17.06% SFS Fixed Income Fund 1.25 1.25 0.16% AXA MANSARD INVESTMENTS LIMITED [email protected] STANBIC IBTC ASSET MANAGEMENT LTD [email protected] Web: www.axamansard.com; Tel: +2341-4488482 Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 105.58 106.32 5.95% Stanbic IBTC Balanced Fund 1,835.38 1,845.51 0.22% AXA Mansard Money Market Fund 1.00 1.00 15.30% Stanbic IBTC Bond Fund 154.04 154.04 0.05% Stanbic IBTC Ethical Fund 0.76 0.77 -0.65% CHAPELHILL DENHAM MANAGEMENT LTD [email protected] Stanbic IBTC Guaranteed Investment Fund 187.61 187.61 0.39% Web: www.chapelhilldenham.com, Tel: +234 461 0691 Stanbic IBTC Iman Fund 130.68 132.41 0.67% Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund 100.00 100.00 17.38% Nigeria Global Investment Fund 2.15 2.20 5.58% Stanbic IBTC Nigerian Equity Fund 7,533.30 7,631.11 -0.59% Paramount Equity Fund 9.19 9.42 -6.76% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Women's Investment Fund 83.57 85.71 3.03% Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 FBN CAPITAL ASSET MANAGEMENT LTD [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.fbnquest.com; Tel: +234-81 0082 0082 United Capital Balanced Fund 1.12 1.13 7.13% Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Bond Fund 1.23 1.23 17.13% FBN Fixed Income Fund 1,088.81 1,090.02 -0.14% United Capital Equity Fund 0.67 0.69 1.89% FBN Heritage Fund 110.53 111.29 -0.94% United Capital Money Market Fund 1.00 1.00 13.00% FBN Money Market Fund 100.00 100.00 15.33% ZENITH ASSETS MANAGEMENT LTD [email protected] Web: www.zenith-funds.com; Tel: +234 1-2784219 FBN Nigeria Eurobond (USD) Fund - Institutional $104.93 $105.18 0.64% Fund Name Bid Price Offer Price Yield / T-Rtn FBN Nigeria Eurobond (USD) Fund - Retail $104.26 $104.51 0.68% Zenith Equity Fund 9.85 10.03 3.19% FBN Nigeria Smart Beta Equity Fund 112.11 113.63 -0.48% Zenith Ethical Fund 11.13 11.24 -2.78% FIRST CITY ASSET MANAGEMENT LTD [email protected] Zenith Income Fund 17.16 17.16 6.96% Web: www.fcamltd.com; Tel: +234 1 462 2596 REITS Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name NAV Per Share Yield / T-Rtn Legacy Equity Fund 0.92 0.93 -1.60% FSDH UPDC Real Estate Investment Fund 11.41 1.01% Legacy Short Maturity (NGN) Fund 2.57 2.57 0.16% SFS Skye Shelter Fund 123.97 0.00% FSDH ASSET MANAGEMENT LTD [email protected] EXCHANGE TRADED FUNDS Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Equity Exchange Traded Fund 8.68 8.78 -1.13% Coral Growth Fund 2,189.46 2,214.18 -0.35% Stanbic IBTC ETF 30 Fund 74.78 76.15 -1.34% VETIVA FUND MANAGERS LTD [email protected] Coral Income Fund 2,108.26 2,108.26 1.13% Web: www.vetiva.com; Tel: +234 1 453 0697 INVESTMENT ONE FUNDS MANAGEMENT LTD [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Vetiva Banking Exchange Traded Fund 2.61 2.65 -5.00% Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Consumer Goods Exchange Traded Fund 6.94 7.02 -1.27% Vetiva Grifﬁn 30 Exchange Traded Fund 11.94 12.04 -0.49% Vantage Guaranteed Income Fund 1.00 1.00 15.90% Vetiva Industrial Goods Exchange Traded Fund 15.67 15.87 -1.74% Vantage Balanced Fund 1.67 1.69 -0.65% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 126.49 128.49 -2.59%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only. THISDAY MONDAY JANUARY , NATIONAL INSURANCE COMMISSION HEAD OFFICE: Plot 1239 Ladoke Akintola Boulevard Garki II, Abuja. P.M.B 457. Abuja. Nigeria Call Centre: 092919241, 092919242, 092919243, 092919244, 092919247, 092919249, 092919256, 092919257, 092919258, 092901511 E-mail: [email protected]. Website: www.naicom.gov.ng Understanding Compulsory Insurance Products INSURANCE OF BUILDINGS UNDER CONSTRUCTION he law makes it mandatory for licensed C. HOW MUCH PROTECTION DO I GET he Insurance Act 2003 makes Sub-contractors, Agents, Thealth care services providers to insure AS A MEDICAL PROFESSIONAL T The CMD - 25% of the Selected Sum Servants and Consultants of the their legal liability to clients resulting from insurance of building under Any other Medical Professional - 10% of professional negligence. construction compulsory for the Contractor or owner of the the Selected Sum building. The Medical Institution - 100% of the owner or contractor. The policy covers legal liability to clients and Selected Sum The objective is to provide security D. HOW MUCH PROTECTION DO I third parties for breach of contract or the duty D. HOW MUCH COMPENSATION DO I GET AS AN INJURED PATIENT against the risk of bodily injury, death GET AS A SITE WORKER OR to render the standard of service for which the health professional has been hired Death - N2.0m or property damage in the event of MEMBER OF THE PUBLIC Permanent Disability - N2.0m resulting in death, disability or injury. The Other level of Injury - % of N2.0m collapse of building under Non-Payroll Site Worker or professionals involved include doctors, depending on the level of disability construction. The policy protects Member of the Public Death - nurses, pharmacists, radiographers, etc. Medical Expenses - Local - Max N2.0m, Foreign - Max N5.0m workers Non compliance may attract revocation of at license by National Health Insurance E. WHO IS LIABLE constructi Council. The Chief Medical Director of the Hospital on site A. FOR WHOM The Medical Institution and all the The Negligent Medical Professional and other Medical Professionals working therein. The Medical Institution members B. WHAT DOES THE POLICY COVER F. WHO PAYS THE PREMIUM The Premium is to be borne 100% by of the It provides compensation for the NHIS the Hospital patients who suffer Death, Sickness, public. G. PENALTY FOR NON-COMPLIANCE Permanent Disability, Partial Disability Personal Prosecution for involuntary and Injury by Shock from the mistakes, murder etc. The errors, negligence and acts of Revocation of Permit of the Medical commission or omission of medical owner or Institution. practitioners and institutions. person responsib N2.0m le for the construction has the duty to Permanent Disability - N2.0m insure while non compliance attracts Other level of injury - % of N2.0m a penalty of N250,000 or 3 years he Insurance Act 2003 makes it All Recreational Centres, Club Houses, depending on the degree of Tmandatory for every public building to Cinema Halls etc. - Any other building imprisonment or both. disability be insured with registered insurer against the except churches and mosques. Medical Expenses - Local - Max risks of collapse, fire, earthquakes, storm or All Schools and Training Institutions A. FOR WHOM N2.0m, Foreign -Max N5.0m flood. B. WHAT DOES THE POLICY COVER? All the owners and contractors of Property Damage Compulsory The public buildings insurance cover Compensation to any user, licensee or buildings of more than two (2) floors Site Worker, 3rd Party or provides for compensation in the events of member of the public who dies or under construction. Surrounding Properties - N50.0m bodily injury, death and property damage to becomes injured as a result of Fire, Max in total Legal Cost and tenant, third party and members of the public Flood, Storm, Earthquake or Collapse of Expenses B. WHAT DOES THE POLICY arising from the above risks. the building. COVER Reimbursement for defence cost to Compensation for property damage to The owner or person occupying the property Construction Risks of every the Contractor in case the matter any user, licensee or member of the goes to court - N1.0m Max. has the duty to insure while non compliance description resulting in: public as a result of Fire, Flood, Storm, attracts a penalty of N100,000 or one year Earthquake or Collapse of the building. Death or injury to site workers imprisonment. E. WHO PAYS THE PREMIUM C. HOW MUCH COMPENSATION CAN I and Death or injury to any A. FOR WHOM? The Building Contractor GET All Business and Office premises member of the public. Compulsory F. PENALTY FOR NON- (government, corporate, private) - All Property damage to the site For Death to any User, Lisensee or COMPLIANCE Petrol and Gas Stations member of the public - N2.0m maximum workers, any member of the N250,000 fine plus three (3) years All Hotels, Guest Houses, Hostels and For Permanent Disability to any User, public, or to the surrounding imprisonment - Sec. 64 (3) of the Residential Estates. - All Hospitals, Licensee or 3rd Party - N2.0m maximum Health Centres and Clinics (public & properties. Insurance Act 2003. For Damage to any Public utility - private) C. WHO IS LIABLE G. THE REGULATORY AUTHORITY N10.0m maximum All Residential Buildings that are let out Owner and/orContractor of the The National Insurance For Damage to any 3rd Party Property in full or in part - All Markets and Commission (NAICOM) N35.0m max. Building under construction Shopping plazas

A public enlightenment and Insurance Education Publication of the National Insurance Commission (NAICOM) MONDAY JANUARY , THISDAY THISDAY MONDAY JANUARY , MONDAY JANUARY , THISDAY THISDAY MONDAY JANUARY , MONDAY, JANUARY , • THISDAY

Acting Features Editor: Charles Ajunwa CITYSTRINGS Email [email protected]

A part of Garki The Hell Inside Abuja Right in the heart of Abuja where some of the key institutions of government are concentrated is the urban area called Garki, but it also has one of the most neglected slums in the country, Olawale Ajimotokan reports

t may not be regarded as Nigeria’s all be found in Garki. consciousness of the decision makers, who and Nsukka Street have overtly evolved seat of power, but Garki District as It also houses the cluster of foreign embas- place it on the same scale as Ajegunle, the into ducts where waste water generated the main business district of Abuja sies chief among which are China, U.S., sprawling slum in Ajeromi-Ifelodun Local by the households gather as there is no is the heartbeat and pearl of the Brazil, Ghana and Angola, all conspicuous Government Area of Lagos State, where functional drainage in the neighbourhood. nation’s capital. on both sides of Ernest Shonekan Drive. public infrastructure and health facilities The lack of drainage exposes the inhabitants Some of Garki’s key features are Some of Nigeria’s foremost nationalists, are decrepit and not adequate. to the risk of malaria and other opportunistic boutique hotels, major roads and public including Herbert Macaulay, Tafawa Balewa, It is located in a place off the two major diseases that thrive in dirty environment. institutions,I where policy decisions regulating Ladoke Akintola, Ahmadu Bello, Fumilayo link roads, Ahmadu Bello Way and Samuel Water has become a scarce commodity the matters of state are formulated. Ransome-Kuti and Moshood Abiola all have Ladoke Akintola Boulevard. for the community dwellers, whose regular The headquarters of Nigeria Army, the Old major roads named after them in Garki. Aside parts of the only tarred roads- source of supply is through truck pushers and Federal Secretariats, the Central Bank But at the southern most corner of the Lagos Street and Oka Akoko, that link the and untreated sachet water sold by retailers. of Nigeria, Nigerian Television Authority district is Garki II: a sharp contrast to the neighbourhood, plus the 80 metres stretch to Private hospitals and the Garki Village (NTA), Ministry of Defence, Arts and Culture sterling attributes of Garki. It is here that the quarters of the Sa’Peyi (Village Chief), Primary Health Centre built by Abuja Centre, the General Post Of ce, Federal the Garki Village, a cobweb of unplanned Alhaji Usman Nga- Kupi- the rest of the Municipal Area Council (AMAC) serve Capital Development Authority (FCTA) structures and one of the knockdown places place is a ghetto conscripted to its fate by the medical needs of the residents. International Conference Centre, Nicon in the heart of Abuja can be found. the relevant authority. The Primary Health Centre has a doc- Luxury Hotel and Hawthorne Suites can The Garki Village scarcely exists in the The bumpy roads, particularly Enugu Street tor, a few nurses and auxiliary medical MONDAY, JANUARY , • THISDAY CITYSTRINGS

Enugu Street in Garki

This is a settlement where the chief’s road. There is no planning here The call girls, provocatively dressed, The tang of the food as it is prepared on all the ethnic groups of because it is a village for the common wait patiently for their target, mainly the the stove in addition to the hum generated people of Nigeria. They have no regard for urban mobile patrons with ashy cars. by the vehicles in a long line, combine to Nigeria are represented. us,” lamented Daniel Imoto, a businessman They strike a deal and agree to meet at a give the nightlife an added fervour. The people here are law at Garki Modern Market. getaway usually one of the nearby hotels "This is a community that rarely goes to A tailor adjacent the Sa’peyi’s house, in the area. bed. You can hardly go hungry here because abiding but you can see Sadik Awwal also listed similar plight which Both sides of Lagos Crescent are lined by by the nature of the night life here, food is for yourself the hardship members of the community confront on rows of makeshift canteens where people available at any given time of the day. One daily basis. According to Awwal, steady are served bowls of hot, spicy foods and can still get food to buy here by as late as we are subjected to. There electricity, water supply and medical facilities different types of alcohol. 2a.m. It is one of the reasons that make this are some of the basic requirements of the place special and bubbling,’’ noted Imoto. is irregular supply of community. But Ibrahim Idris, a bicycle repairer is electricity, we buy unclean "We are minding our business as a happy with the business opportunities people, there is no issue with security offered in the community. water that puts our health because there is a police barracks serving Lagos Street is the hub and Idris was born in Garki to Hausa parents in jeopardy and there is no the whole community, but we feel we are melting pot of the Garki and has been in the business of xing creaky unjusti ably excluded from the development bicycles since his father initiated him into road around us. Government should live to its Village. Every night the the profession 20 years ago. responsibility,’’ Awwal charged. peace of the community The last in a family of ve brothers, it Lagos Street (Crescent) is the hub and was through the proceeds from the vocation personnel. It renders services on children melting pot of the Garki Village. Every night is disturbed by revelers that he used to educate himself and fend immunisation, public healthcare, pregnancy the peace of the community is disturbed by for the family. and laboratory service. revelers who gather to drink and patronise who gather to drink and ‘’Business is booming in this community. I “This is a settlement where all the ethnic the women of easy virtues who line the patronise the women of used to do work a little anytime I come out, groups of Nigeria are represented. The road for customers. It is also a notorious but I get more patronage on Saturdays than people here are law abiding but you hangout for homosexuals, who sometimes easy virtues who line the on other days. Now I have ve apprentices can see for yourself the hardship we are openly solicit for patronage, though some road for customers. It is working under me,’’ Idris said. subjected to. There is irregular supply are wary as they make overtures to male "When you visit here in the night, you of electricity, we buy unclean water that passersby. also a notorious hangout can hardly nd a space because of the puts our health in jeopardy and there is There caution is because the Nigerian for homosexuals, who vehicular traf c. This is a good place. The no road. And scarcely do you see health law criminalises homosexuality which is only appeal I will make to government is to workers come to immunise children. You punishable by a 14-year jail term if an sometimes openly solicit x our roads to ease movement of people can also see the drainage water dissecting offender is convicted. for patronage and goods". MONDAY JANUARY , THISDAY

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 06-JAN-2017 SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV 21ST -NOV 25TH 2016

SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV. 21 - NOV. 25 2016

S/N CUSTOMER NAME ITEM OF IMPORT DATE OF SALES EXCHANGE RATE AMOUNT 1 ABIMBOLA IZU TUITION FEES 21/11/2016 315.00 17,679.00 2 ADEBISI PAUL KOLAWOLE TUITION FEES 21/11/2016 306.00 2,710.00 3 TIJAFOX OIL NIGERIA LIMITED TUITION FEES 21/11/2016 306.00 3,400.00 4 MOJEC INTERNATIONAL LIMITED TUITION FEES 21/11/2016 306.00 3,640.29 5 OSAROEDEY KASEMI ONENEE TUITION FEES 21/11/2016 306.00 2,877.37 6 OSAROEDEY KASEMI ONENEE TUITION FEES 21/11/2016 315.00 2,122.63 7 EVERBRIGHT INDUSTRIES LIMITED CHEMICAL - LOW DENSITY POLYTHYLENE EXTRUSION 22/11/2016 315.00 45,690.08 8 EVERBRIGHT INDUSTRIES LIMITED CHEMICAL - HOMOPOLUMER (RAFFIA) 22/11/2016 315.00 34,959.15 9 EVERBRIGHT INDUSTRIES LIMITED LOW DENSITY POLYETHYLENE EXTRUSION Fd0474 22/11/2016 315.00 64,894.50 10 HALIMA SADIYA USMAN MEDICAL FEES 22/11/2016 306.00 3,500.00 11 IBRAHIM MUHAMMAD HUSSAINI TUITION FEES 22/11/2016 306.00 3,872.36 12 ZEX STANDARD PHARMACEUTICALS ETHY ALCHOHOL EXTRA NEUTRAL ALCHOHOL GRAIN (LC CHARGES) 22/11/2016 315.00 1,743.59 13 LAND CRAFT INDUSTRIAL LIMITED SILICO MANGANESE(LC CHARGES) 22/11/2016 315.00 699.32 SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK OCT. 24 - OCT. 28 2016 14 SONA AGRO ALLIED FOOD LIMITED AMMONIUM BICARBONAT(LC CHARGES) 22/11/2016 315.00 163.38 15 FOUR BROTHER INDUSTRIAL NIGERIA LIMITED ODORIFEROUS MIXTURES FOR INDUSTRIAL(LC CHARGES) 22/11/2016 315.00 800.5 16 MAI ANGUWA DANLAMI TUITION FEES 23/11/2016 315.00 2,540.00 17 DEBORAH SOREMI TUITION FEES 24/11/2016 315.00 1,500.00 S/N CUSTOMER NAME ITEM OF IMPORT DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT 18 CORONATION BANK INTERBANK SALES 24/11/2016 305.00 200,000.00 19 DIAMOND BANK INTERBANK SALES 24/11/2016 305.00 150,000.00 1. MARKIE IDOWU SCHOOL FEES PAYMENT 24/10/2016 315.00 1,095.00 20 ECOBANK INTERBANK SALES 24/11/2016 305.00 50,000.00 2. PRIMLAKS INDUSTRIES LIMITED HOT ROD STEEL SHEET 24/10/2016 315.00 19,675.50 21 FBN MERCHANT BANK INTERBANK SALES 24/11/2016 305.00 50,000.00 3. ABSOL FARMS NIGERIA LIMITED POULTRY FEEDING EQUIOMENTS AND ACCESSORIES 25/10/2016 315.00 20,408.95 22 FIDELITY BANK INTERBANK SALES 24/11/2016 305.00 200,000.00 23 FIRST BANK INTERBANK SALES 24/11/2016 305.00 50,000.00 4. ACHIME & COMPANT ENTERPRISES NIGERIA LIMITED. AGRICULTURAL WATER PUMP 25/10/2016 315.00 20,000.00 24 HERITAGE BANK INTERBANK SALES 24/11/2016 305.00 50,000.00 5. AMARILO PLASTICS LIMITED DIOCTYLE PHTHALATE (DOP) 25/10/2016 315.00 18,000.00 25 KEYSTONE BANK INTERBANK SALES 24/11/2016 305.00 50,000.00 6. ARS NIGERIA LIMITED DISPERSIOM INPLASTICS 25/10/2016 315.00 23,702.00 26 STERLING BANK INTERBANK SALES 24/11/2016 305.00 50,000.00 7. COBEF INTERNATIONAL LIMITED POLY VINYL CHLORIDE 25/10/2016 315.00 20,560.00 27 UNION BANK INTERBANK SALES 24/11/2016 305.00 100,000.00 8. DE MASTERS PALACE INVESTMENT LIMITED AUTOMATIC WAFER BAKING MACHINE AND BATTER MIXER 25/10/2016 315.00 20,600.00 28 UNITY BANK INTERBANK SALES 24/11/2016 305.00 50,000.00 9. INTERNATIONAL TOBACCO COMPANY PLC SPARE PARTS 25/10/2016 315.00 10,259.60 29 GABROVIC NIGERIA LIMITED CATFISH FEED 25/11/2016 305.50 7,148.80 10. JUDDY-BOLEMA INDUSTRIES LIMITED GALVANIZED IRON WIRE 25/10/2016 315.00 25,072.09 30 GABROVIC NIGERIA LIMITED CATFISH FEED 25/11/2016 315.00 2,851.20 11. KHAIRAT PHARMACY AND VET COMPANY LIMITED OXYTETRACYCLINE INJECTION 25/10/2016 315.00 15,000.00 31 MOJEC INTERNATIONAL LIMITED PLASTIC INJECTION MOLDING MACHINE BRAND 25/11/2016 305.00 100,000.00 12. ODUGBEMI OLUGBENGA SCHOOL FEES PAYMENT 25/10/2016 315.00 2,341.92 32 MIMARATHON RESOURCES LIMITED CUSTOMIZED MANAGEMENT SERVER 25/11/2016 305.00 30,000.00 13. PRISM STEEL MILLS LIMITED WHITE QUICKLIME 25/10/2016 315.00 15,870.00 33 AUSTIN OBILONU TUITION FEES 25/11/2016 305.00 6,000.00 34 KHAIRAT PHARMACY $ VETERINARY COMPANY LIMITED ALBANEET 250MG (ALBENDAZOLE) 25/11/2016 305.00 44,000.00 14. ADETOLA ADEGOKE SCHOOL FEES PAYMENT 26/10/2016 315.00 5,318.00 35 ALOKRISH LIMITED PARACETAMOL CHEMICAL POWDER 25/11/2016 305.00 20,000.00 15. JOY INFINITIO GLOBAL BUSNIESS DEALINGS LIMITED AGRICULTURAL EQUIPMENT 26/10/2016 315.00 28,026.30 36 WANDEL INTERNATIONAL NIGERIA LIMITED MOTORIZED TRICYCLES IN CKD 25/11/2016 305.00 18,744.57 16. ONI TITILOYE SCHOOL FEES PAYMENT 26/10/2016 315.00 285.20 37 PAPERLAND INDUSTRIES LIMITED UNCOATED PAPER-WOODFREE 25/11/2016 305.00 30,000.00 17. BESTLIME INTERNATIONAL LIMITED WHITE QUICKLIME 27/10/2016 350.50 14,677.83 38 GIVANAS INDUSTRY NIGERIA LIMITED ODORFEROUS MIXTURE 25/11/2016 305.00 30,000.00 18. POLYTHENE ENTERPRISES NIGERIA LIMITED MODIFIED STARCH FOR CARTON INDUSTRY 27/10/2016 350.50 15,300.00 39 WANDEL INTERNATIONAL NIGERIA LIMITED MOTORIZED TRICYCLES IN CKD 25/11/2016 305.00 3,255.43 19. POLY PRODUCTS NIGERIA LIMITED MOULDER 27/10/2016 350.50 4,680.00 40 RICHYGOLD INTERNATIONAL LIMITED PARACETAMOL (POWDER) 25/11/2016 305.00 15,000.00 20. VISTA INTERNATIONAL LIMITED UNCOATED WOODFREE PAPER 27/10/2016 350.50 20,000.00 41 UBADIMMA NIGERIA LIMITED ELECTRONIS 25/11/2016 305.00 20,000.00 21. ACME PACKAGING LIMITED TESLINER FOUTING IN REELS 27/10/2016 350.50 21,561.52 42 MIKADO NIGERIA LIMITED ODIFEROUS SUBSTANCES 25/11/2016 305.00 20,000.00 22. ALOKRISH LIMITED EMPTY HARD GELATIN CAPSULES 27/10/2016 350.50 17,000.00 43 MRS SHAKIRAT YEMBRA & MR LOVETT YEMBRA TUITION FEES 25/11/2016 305.00 8,000.00 23. GIVANAS INDUSTRY NIGERIA LIMITED ODORFEROUS MIXTURE 27/10/2016 350.50 10,385.00 44 EZINWANNE DOROTHY NNORUKA TUITION FEES 25/11/2016 305.00 5,000.00 24. EURO GLOBAL FOODS & DISTILLERIES LIMITED HERBAL / BITTER EXTRACT 27/10/2016 350.50 14,767.75 45 PHOENIX STEEL MILLS LIMITED CONVERTIBLE /LADLE GOODS 25/11/2016 305.00 50,000.00 46 MOLHADEEN INTERNATIONAL NIGERIA LIMITED PVC RIGID FILM 250 MICRON 25/11/2016 315.00 9,537.50 25. PHOENIX STEEL MILLS LIMITED CONVERTIBLE/LADLE GOODS 27/10/2016 350.50 20,858.80 47 ROYAL CHANTELLE LIMITED NICGRVAOL SPECIAL YARN FOR FILER BAG 25/11/2016 315.00 1,441.89 26. SALASAR ENTERPRISES LIMITED ACTIVATED EARTH CLAY FOR PURIFYING WASTE OIL 27/10/2016 350.50 20,000.00 48 ALOZIE TONYE MILLICENT TUITION FEES 25/11/2016 315.00 2,000.00 27. SONA AGRO ALLIED FOODS LIMITED AMMONIUM / SODIUM 27/10/2016 350.50 7,111.35 49 CHEMLAP NIGERIA LIMITED PVA FLAKES 25/11/2016 305.00 9,360.00 28. EL-KAY KAY INDUSTRIES LIMITED UNCOMPLETED EMPTY CANS 27/10/2016 350.50 10,000.00 50 CHEMLAP NIGERIA LIMITED DIBUTYL PHTHALATE 25/11/2016 305.00 20,640.00 29. CELLOPACK INDUSTRIES LIMITED PLAIN (NON PRINTED) RIGID PVC BLOWN FILMS 27/10/2016 350.50 21,825.19 TOTAL 1,645,771.56 30. BERGER PAINT NIGERIA PLC CALCIUM CARBONATE 27/10/2016 350.50 11,440.00 31. SUPREME POLYARN LIMITED LOW DENSITY POLYPROPYLENE LOTRENE 27/10/2016 350.50 19,120.00 32. CHIZZY NIGERIA LIMITED PIGMENTS AND ADDITIVES 27/10/2016 350.50 20,000.00 33. TATA AFRICA SERVICES (NIGERIA) LIMITED SODIUM LAURYL ETHER SULFATE (CHEMICALS) 27/10/2016 350.50 27,710.00 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV. 21 - NOV. 25 2016 34. VISTA INTERNATIONAL LIMITED UNCOATED WOODFREE PAPER 28/10/2016 315.00 10,573.06 S/N SOURCE DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT 35. VISTA INTERNATIONAL LIMITED UNCOATED WOODFREE PAPER 28/10/2016 315.00 85,492.74 1 AUTONOMOUS 21/11/2016 314.50 1,801.63 36. FINE CHEMICALS NIGERIA LIMITED SOLBIN CHEMICALS 28/10/2016 315.00 88,596.00 2 AUTONOMOUS 22/11/2016 314.50 301.58 37. FINE CHEMICALS NIGERIA LIMITED SOLBIN CHEMICALS 28/10/2016 315.00 65,338.20 3 AUTONOMOUS 22/11/2016 314.50 3,613.36 TOTAL 772,652.00 4 AUTONOMOUS 23/11/2016 314.50 9,589.82 5 AUTONOMOUS 24/11/2016 314.50 5,675.99 MONDAY JANUARY , • THISDAY 6 CENTRAL BANK OF NIGERIA 24/11/2016 304.50 1,500,000.00 7 AUTONOMOUS 24/11/2016 314.50 8,547.00 SKYE BANK PLC SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK OCT. 24 - OCT. 28 2016 8 AUTONOMOUS 24/11/2016 305.00 7,148.80 9 DIAMOND BANK 25/11/2016 305.75 50,000.00 email:[email protected] TOTAL 1,586,678.18 INTERNATIONAL SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK NOV 28 - DEC 2, 2016 S/N SOURCE DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT AMOUNT S/N CUSTOMER NAME ITEM OF IMPORT DATE OF SALES EXCHANGE RATE AMOUNT 1 BROLLO PIPE AND PROFILE INDUSTRIES LIMITED HOT ROLLED STEEL SHEETS IN COIL 28/11/2016 305.00 25,000.00 1. AUTONOMOUS 24/10/2016 314.50 173,842.30 2 ACME PACKAGING LIMITED WHITE KRAFTLINER FOR PRODUCTION OF CORRUGATED PAPER CARTON 28/11/2016 305.00 15,000.00 Obama Says He Takes ‘Some Responsibilities’ for 3 HOME GROWN LIMITED CORRUGATED PAPER CARTON 28/11/2016 305.00 5,000.00 2. AUTONOMOUS 24/10/2016 314.50 18,958.10 4 NGOBROS & COMPANY LIMITED BABY DIAPER RAW MATERIAL 28/11/2016 305.00 25,000.00 3. AUTONOMOUS 25/10/2016 314.50 18,000.00 5 FOLAJIMI ASHIRU LIVING EXPENSE 28/11/2016 315.00 4,450.37 4. AUTONOMOUS 25/10/2016 314.50 1,784.66 6 JACLIZ NIGERIA LIMITED PIPE SUPPORT MATERIAL 29/11/2016 306.25 25,000.00 www.skyebankng.com Democrats’ Loss of Power 7 GABROVIC NIGERIA LIMITED CAT FISH FEED 29/11/2016 306.25 14,000.00 5. AUTONOMOUS 26/10/2016 314.50 30,000.00 8 RASYLTA SERVICES LIMITED ALLUMINIUM MATERIALS 29/11/2016 305.75 25,000.00 6. AUTONOMOUS 26/10/2016 314.50 3,629.50 9 JO-MADUGU, AUGUSTINE EGBUNU TUITION FEES 29/11/2016 306.25 3,132.00 10 BOBAN INVESTMENT LIMITED TUITION FEES 29/11/2016 306.25 2,832.81 7. AUTONOMOUS 27/10/2016 350.00 276,437.44 President Barack Obama feels good district lines for both state and system has long been a focus skeptical of the party and who means that we’re showing up in went on. “And if Democrats are not about his policy legacy, and thinks federal legislative seats in ways of his. He then took what supported President-elect Donald places where right now we’re not showing up in those places, even 11 DE-SHALOM PHARM LAB NIGERIA LIMITED PHARMACEUTICAL PRODUCTS 29/11/2016 305.75 13,200.00 8. AUTONOMOUS 28/10/2016 314.50 250,000.00 12 ALZICO LIMITED AGRICULTURAL MACHINERIES PRIME MOVERS GX AND WATER PUMP 29/11/2016 315.00 30,000.00 more of it may survive the Trump that locked in an advantage for sounded like a mild dig at Trump in the election. winning a lot.” if you even if you’re not gonna 13 LEO AND CLEM ENTERPRISES MOTORCYCLE SPARE PARTS 29/11/2016 315.00 15,000.00 TOTAL 772,652.00 presidency than most people expect. their party. Democrats, including those “I want to see the Democratic “The big divide right now is win right away, but if you’re not in 14 WHITEDOTS INVESTMENTS LIMITED CALCIUM HYDROXIDE (LIMBUX) 29/11/2016 315.00 15,050.00 But in an interview that aired “We were just at the beginnings in the failed Hillary Clinton Party move in that direction,” between urban areas, which have there at least making an argument 15 FOLD NIGERIA LIMITED HEAVY DUTY INDUSTRIAL SAUSAGE LINE 29/11/2016 315.00 21,600.00 Sunday on ABC’s “This Week,” of a recovery,” Obama said. “You campaign, by saying Demo- Obama said. “And what that means become increasingly Democratic, that, ‘Hey, you know what? It’s the 16 BROSNA ELECTRICAL PRODUCTS LIMITED ELECTRICAL REGULATORS 29/11/2016 315.00 25,000.00 the outgoing chief executive said know, whoever is president at that crats need to work harder to is that we aren’t just micro-targeting and rural or exurban areas that feel Democrats who are trying to raise 17 JAY EXPORT PVT LIMITED GLIE LAC 29/11/2016 305.75 11,800.00 he recognises that the Democratic point is gonna get hit and his party’s win over voters who’ve grown to eke out presidential victories it as if they’re being ignored,” he your minimum wage.’” 18 ADELARIN OLAGUNJU MEDICAL BILLS 29/11/2016 306.25 5,035.19 19 ADELARIN OLAGUNJU MEDICAL BILLS 29/11/2016 315.00 1,464.81 Party has lost a lot of power during gonna get hit. That then means 20 GABROVIC NIGERIA LIMITED CAT FISH FEED 30/11/2016 315.00 10,000.00 his watch, and wishes he had done that suddenly you’ve got a 21 NGOBROS & COMPANY LIMITED BABY DIAPER RAW MATERIAL 30/11/2016 315.00 10,000.00 more to strengthen it. redistricting in which a lot Iran’s Ex-President Rafsanjani 22 SOLTEC PRODUCTS LIMITED PVC CLEAR SHEET 30/11/2016 315.00 10,000.00 “I take some responsibility on of state legislatures are now Jerusalem Attack: Four Dead after 23 JIMBEST AUTO SUPPLY COMPANY LIMITED ENGINE OIL 30/11/2016 315.00 10,000.00 that,” Obama said. Republican. They draw lines 24 ARS NIGERIA LIMITED RESINS MTS WHITE 1000/777 30/11/2016 315.00 10,000.00 The president was responding that give a huge structural Dies at 82 Lorry Driver Rams Soldiers 25 TRANSERVE DISC TECHNOLOGIES LIMITED POLYCARBONATE RESINS 30/11/2016 315.00 30,000.00 26 ACHIME AND COMPANY ENTERPRISES AGRICULTURAL WATER PUMPS WP 30X 30/11/2016 315.00 10,000.00 to a question from host George advantage in subsequent Iran’s ex-President Ali Akbar had disqualified Mr Rafsanjani 27 FAS AGRO INDUSTRIAL COMPANY LIMITED POLYPROPYLENE 30/11/2016 315.00 509,850.00 Stephanopoulos about the losses elections.” Hashemi Rafsanjani, a dominant after he entered the race for the Four people have been killed in the soldiers, before reversing 28 SUNPLAST INDUSTRIES LIMITED POLYPROPYLENE HOMOPOLYMER 30/11/2016 315.00 10,000.00 www.skyebankng.com Democrats have suffered in Con- But, Obama went on to say, figure in the country’s politics since 2013 presidential election. Jerusalem by a Palestinian who over the victims. 29 MULIKAT IBRAHIM TUITION FEES 30/11/2016 315.00 7,594.00 gress, where they have relinquished he focused on governing to the 1980s, has died at the age of After his defeat in 2005, Mr rammed a lorry into a group “He drove backward to crush 30 CHEMLAP NIGERIA LIMITED PVA FLAKES 30/11/2016 315.00 20,150.00 majorities in both parties, and in the exclusion of politicking 82, media say. Rafsanjani became openly critical of soldiers, in what police say more people,” eyewitness Leah 31 W.J. BUSH AND COMPANY NIGERIA LIMITED MIXTURES OF ODORFEROUS FOR PRODUCTION OF SOAP AND COSMETICS 30/11/2016 315.00 142,039.00 state legislatures, where they have and the Democratic Party Mr Rafsanjani had suffered a of the president. was a terrorist attack. Schreiber told reporters. “That 32 W.J. BUSH AND COMPANY NIGERIA LIMITED PRINTED LAMINATED PAPER 30/11/2016 315.00 30,184.00 33 W.J. BUSH AND COMPANY NIGERIA LIMITED INDUSTRIAL MACHINERY SPARE PART 30/11/2016 315.00 9,724.00 lost more than 900 seats. suffered. heart attack, the reports said. In 2009, he sided with Three women and one man, was really clear.” The attack took 34 W.J. BUSH AND COMPANY NIGERIA LIMITED INDUSTRIAL PACKAGING MATERIALS- VIALS 30/11/2016 315.00 18,053.00 all in their twenties, were killed place on the popular Armon SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK JAN 3RD -JAN 6TH 2017 A big factor, Obama said, was “Because my docket was He served as president from reformers who disputed that 35 SUPREME POLYARN LIMITED POLYPROPYLENE 30/11/2016 315.00 22,467.00 timing. really full here... I couldn’t 1989 to 1997 but lost to Mahmoud year’s elections, although the and at least 13 more were Hanatziv promenade overlooking 36 INTERNATIONAL TOBACCO COMPANY PLC SPARE PART 30/11/2016 315.00 13,533.00 Obama took office in 2009 as the be both chief organizer of the Ahmadinejad when he ran again hardline Mr Ahmadinejad won wounded, medics say. Police the walled Old City of Jerusalem. 37 CELLOPACK INDUSTRIES LIMITED PLAIN (NON PRINTED)RIGID PVC BLOWN FILMS 30/11/2016 315.00 37,033.85 economy was in free fall. Although Democratic Party and func- in 2005. a second term. said the driver was shot dead Police spokesman Micky 38 MARLEYSHREE PHARMACEUTICAL NIGERIA LIMITED PHARMACEUTICALS 30/11/2016 315.00 5,372.15 he acted quickly to help, most tion as commander-in-chief Although Mr Rafsanjani was Mr Rafsanjani was among by soldiers from the group. Rosenfeld said security had been 39 MIMARATHON RESOURCES LIMITED CUSTOMIZED MANAGEMENT SERVER AND OTHER ACCESSORIES 30/11/2016 315.00 50,000.00 notably with the Recovery Act and and president of the United part of the religious establishment, those calling for the release of Over the past 15 months there heightened throughout the city 40 MTN NIGERIA COMMUNICATIONS LIMITED TRANSPONDER SERVICES 30/11/2016 315.00 10,000.00 41 EMERGING MARKET TELECOMMUNICATION SERVICES INTERCONNECT FEE 30/11/2016 315.00 12,500.00 his rescue of the U.S. auto industry, States,” Obama said. “We he was regarded as a “pragmatic political prisoners and greater have been many attacks on in response. Jerusalem Mayor 42 TRANSERVE DISC TECHNOLOGIES LIMITED POLYCARBONATE RESINS 01/12/2016 315.00 400.00 the 2010 midterm elections took did not begin what I think conservative” open to improving political freedoms for parties Israelis by Palestinians - using Nir Barkat called on residents 43 KENVEE NIGERIA LIMITED KITCHEN WARES & HOUSEHOLD ITEM 01/12/2016 315.00 40,940.00 place before the economy had needs to happen over the ties to the West. prepared to work within the knives, guns and sometimes not to “let terror win” and said 44 PRAMANSONS GLOBAL COMPANY LIMITED KITCHEN WARES &HOSEHOLD ITEM 01/12/2016 315.00 19,351.00 started to improve in ways most long haul, and that is rebuild His final role was head of the constitution. The state-run Irinn vehicles. militants would “pay a heavy 45 MASHABROS &SONS LIMITED KITCHEN WARES &HOSEHOLD ITEM 01/12/2016 315.00 60,000.00 people felt in their daily lives. the Democratic Party at the Expediency Council, which tries to network announced on Sunday Israel’s police chief Roni price”. 46 HANA PACKAGING LIMITED LLLDPE LOTRENE Q1018H 01/12/2016 315.00 89,420.00 That election was critical, Obama ground level.” resolve disputes between parliament that Mr Rafsanjani had “passed Alsheich said the assailant in “There is no limit to the cruelty 47 HANA PACKAGING LIMITED LLDPE METALLOCENE RESIN 2010HE 01/12/2016 315.00 93,183.75 48 HANA PACKAGING LIMITED HPDE RESIN - GRADE H5604F 01/12/2016 315.00 41,792.50 said, because it gave Republicans Obama noted that he and the Guardian Council. away after a lifetime of fighting Sunday’s attack was a Palestin- of the terrorists who are willing 49 HANA PACKAGING LIMITED HPDE RESIN - GRADE H5615F 01/12/2016 315.00 41,792.50 a chance to dominate redistricting, started his career as a political It was the 12-member council, and constant efforts in line with ian from East Jerusalem. to use any means possible to 50 HANA PACKAGING LIMITED LDPE LOTRENE FE 8000 01/12/2016 315.00 13,520.25 which takes place every 10 years. organizer, and that bringing a dominant force in Iran that fulfilling the goals of Islam and CCTV footage showed the murder Jews and to damage the 51 ALLIANZ LOGISTICS LIMITED DREDGER 01/12/2016 315.00 10,000.00 Republicans were able to draw new people into the political interprets the constitution that the revolution”. truck driving off the road and life routine of Israel’s capital,” 52 ST PATRICKS HOSPITAL AND MATURITY TUITION FEES 01/12/2016 315.00 6,862.63 ploughing at high speed into he said. 53 CHIZZY NIGERIA LIMITED ETHYL ACETATE 50400KG 01/12/2016 315.00 16,500.00 54 OLLA SYSTEMS LIMITED SOFTWARE 01/12/2016 315.00 20,000.00 55 JUDDY BOLEMA INDUSTRIES LIMITED POLYPROPYLENE AND POLYSTYRENE 01/12/2016 315.00 20,000.00 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV 28TH - DEC 2ND ,2016 56 KIRANIL NIGERIA LIMITED GENERAL PURPOSE POLYSTYRENE SPLARENE 01/12/2016 315.00 30,000.00 57 GABROVIC NIGERIA LIMITED CATFISH FEED 01/12/2016 315.00 3,973.27 58 FRANKON MANUFACTURING CONCEPTS LIMITED NEW AUTO SPARE PARTS 01/12/2016 315.00 20,000.00 59 JMG LIMITED SPARE PARTS AND ACCESSORIES FOR GENERATING SETS 01/12/2016 315.00 20,000.00 60 JACLIZ NIGERIA LIMITED PIPE SUPPORT MATERIAL 01/12/2016 315.00 20,203.48 61 NUUB PHARMACEUTICALS &VETERINARY PRODUCTION LIMITED VETERINARY MEDICINE 01/12/2016 315.00 15,000.00 62 IBRAHIM MUHAMMAD TUITION FEES 01/12/2016 315.00 2,500.00 63 SALASAR ENTERPRISES LIMITED CLAYS FOR PURIFYING WASTE OILACTIVATED EARTH CLAY 01/12/2016 315.00 19,579.62 SCHEDULE OF SKYE BANK'S SALES FOR THE WEEK JAN 3 - JAN 6, 2017 64 OHUABUNWA GORDY ADIELE TUITION FEES 01/12/2016 315.00 10,000.00 65 AL SAFWA TRAVEL AND TOURS LIMITED BANK GUARANTEE CHARGES 02/12/2016 315.00 899.10 66 PREMIUM SEAFOODS LIMITED LC CHARGES 02/12/2016 315.00 2,431.90 67 BUILDERS ENGINEERING COMPANY POULTRY CAGE 02/12/2016 315.00 100,000.00 S/N CUSTOMER NAME ITEM OF IMPORT DATE OF SALES EXCHANGE RATE AMOUNT 68 ALOKRISH LIMITED PHARMACEUTICALS 02/12/2016 315.00 39,000.00 1 KAYODE OPEIFA TUITION FEES 03/01/2017 305.50 16,183.00 69 NUUB PHARMACEUTICALS &VETERINARY PRODUCTION LIMITED PHARMACEUTICALS 02/12/2016 15.00 10,000.00 2 HABIBU MUHAMMED MAJE TUITION FEES 03/01/2017 305.50 620.00 70 PELICAN VALUE CHAIN SOLUTIONS NIGERIA LIMITED MECHANIZED POULTRY EQUIPMENTS 02/12/2016 315.00 26,000.00 3 OBASI OGECHI LOVELIN TUITION FEES 04/01/2017 315.00 1,776.00 71 MARLEYSHREE PHARMACEUTICAL NIGERIA LIMITED PHARMACEUTICALS 02/12/2016 315.00 20,000.00 4 UNIVERSAL TURKEY PROJECT LIMITED TUITION FEES 04/01/2017 315.00 8,699.00 72 KHAIRAT PHARMACY $ VETERINARY COMPANY LIMITED ALBANEET 250MG (ALBENDAZOLE) 02/12/2016 315.00 5,000.00 5 ARIBALOYE OLUFEMI TUITION FEES 04/01/2017 315.00 8,500.00 73 MANAL NIGERIA LIMITED WOODEN BEAMS 02/12/2016 305.50 25,000.00 6 ALZICO LIMITED AGRICULTURAL MACHINERIES PRIME MOVERS GX AND WATER PUMP 05/01/2017 315.00 16,942.40 74 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 31,697.30 7 NUUB PHARMACEUTICAL & VETERINARY PRODUCTS LIMITED PHARMACEUTICALS 05/01/2017 315.00 17,940.00 75 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 36,095.05 8 FAS AGRO INDUSTRIAL COMPANY LIMITED POLYPROPYLENE 05/01/2017 315.00 9,900.00 76 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 44,284.23 77 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 48,692.55 9 MOJEC INTERNATIONAL NIGERIA LIMITED P2000 - D THREE PHASE FOUR WIRE ELECTRONIC SPLITKEYPAD 05/01/2017 305.50 50,000.00 78 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 169,037.10 10 HADIZA ALI-DAGABANA INVISIBLE 06/01/2017 315.00 10,000.00 79 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 52,679.71 11 FAS AGRO INDUSTRIAL COMPANY LIMITED POLYPROPYLENE 06/01/2017 315.00 9,900.00 80 SKYE MASTERCARD SETTLEMENT MASTERCARD SETTLEMENT 02/12/2016 315.00 ` 17,179.86 12 FAS AGRO INDUSTRIAL COMPANY LIMITED POLYPROPYLENE 06/01/2017 315.00 9,900.00 81 SUNFLAG NIGERIA LIMITED SPARE PARTS FOR TEXTILE MILL 02/12/2016 315.00 35,000.00 13 LUMAX INTEGRATED SERVICES LIMITED ELECTRONICS 06/01/2017 305.50 8,197.00 82 PRISM STEEL MILLS LIMITED SPARE PARTS FOR ROLLING MILLS 02/12/2016 315.00 35,000.00 14 LUMAX INTEGRATED SERVICES LIMITED ELECTRONICS 06/01/2017 315.00 21,803.00 83 OLUKAYODE ABAYOMI ENITAN TUITION FEES 02/12/2016 315.00 5,760.00 15 JMG LIMITED SOUNDPROOF GENERATOR 06/01/2017 315.00 20,000.00 84 UMAR HASSAN TUITION FEES 02/12/2016 315.00 9,039.60 16 UlTIMATE PLASTICS INDUTRIES LIMITED MANUFACTURING OF PLASTICS 06/01/2017 315.00 15,000.00 85 WHITEX INDUSTRIES NIGERIA LIMITED CALCIUM CARBONATE SUPCAL 02/12/2016 315.00 15,000.00 17 ALOKRISH LIMITED PARACETAMOL CHEMICAL POWDER 06/01/2017 315.00 15,000.00 86 CHIZZY NIGERIA LIMITED PAINT PIGMENT 02/12/2016 315.00 20,000.00 18 FRANKON MANUFACTURING CONCEPT LIMITED NEW MOTORCYCLE SPARE PARTS 06/01/2017 305.50 10,000.00 87 PAPERLAND INDUSTRIES LIMITED UNCOATED PAPER 02/12/2016 315.00 20,000.00 19 ARS NIGERIA LIMITED RESINS MTS WHITE 1000/777. 06/01/2017 305.50 7,911.00 88 ARS NIGERIA LIMITED RESINS MTS WHITE 1000/777 02/12/2016 315.00 15,000.00 89 GEETA PLASTIC PRODUCTS NIGERIA LIMITED ARTIFICIAL RESINS, HIGH DENSITY POLYTHYLENE BLOW 02/12/2016 315.00 10,000.00 20 EZINWANNE DOROTHY NNORUKA TUITION FEES 06/01/2017 305.50 5,343.40 90 ECNU PHARMACEUTICAL COMPANY LIMITED DRUGS AND PHARCEUTICAL PRODUCT 02/12/2016 315.00 10,000.00 21 CELINA COASTAL CRUST GLUE LAC 06/01/2017 305.50 10,000.00 91 ST. MAMA NIGERIA LIMITED VETERINARY PRODUCTS 02/12/2016 315.00 5,000.00 22 OSUNSANYA KOREDE KOLAPO TUITION FEES 06/01/2017 305.50 10,202.00 92 STEADY CONTACT INTER LINKS LIMITED SPARE PARTS 02/12/2016 315.00 20,000.00 23 OLUSOGA OLAYIWOLA VALENTINE TUITION FEES 06/01/2017 305.50 6,543.60 93 COBEF INTERNATIONAL LIMITED POLY VINYL CHLORIDE RAW MATERIAL 02/12/2016 315.00 15,000.00 24 BROLLO PIPE AND PROFILE INDUSTRIES LIMITED HOT ROLLED STEEL SHEETS IN COIL 06/01/2017 315.00 10,000.00 TOTAL 2,728,880.58 25 NGOBROS & COMPANY LIMITED BABY DIAPERS 06/01/2017 315.0000 10,000.00 26 ACME PACKAGING LIMITED TESTLINER 2/3 IN REELS 06/01/2017 315.00 5,000.00 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV. 28 - DEC. 2, 2016 27 CHEMLAP NIGERIA LIMITED PVA 11 GRANULE 06/01/2017 315.00 15,000.00 TOTAL 330,360.40 S/N SOURCE DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT 1 FIRST BANK 28/11/2016 305.25 50,000.00 2 AUTONOMOUS 29/11/2016 314.50 44,791.46 3 AUTONOMOUS 29/11/2016 314.50 483,295.50 SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK JAN 3 - JAN 6, 2017 4 AUTONOMOUS 30/11/2016 314.50 400,000.00 5 AUTONOMOUS 30/11/2016 314.50 500,000.00 S/N SOURCE DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT 6 AUTONOMOUS 30/11/2016 314.50 500,000.00 1 JAIZ BANK 03/01/2017 305.00 50,000.00 7 GT BANK 30/11/2016 305.00 50,000.00 8 AUTONOMOUS 02/12/2016 314.50 5,638.95 2 AUTONOMOUS 04/01/2017 314.50 48,829.86 9 AUTONOMOUS 02/12/2016 314.50 197,808.86 3 AUTONOMOUS 05/01/2017 314.50 149,268.25 10 AUTONOMOUS 02/12/2016 314.50 1,000.00 4 GTBANK 05/01/2017 305.00 50,000.00 11 AUTONOMOUS 02/12/2016 314.50 787.50 5 AUTONOMOUS 05/01/2017 314.50 939.17 12 AUTONOMOUS 02/12/2016 314.50 69.44 6 AUTONOMOUS 06/01/2017 314.50 8,049.32 13 AUTONOMOUS 02/12/2016 314.50 200,000.00 14 AUTONOMOUS 02/12/2016 314.50 200,000.00 TOTAL 307,086.60 TOTAL 2,633,391.71

SCHEDULE OF SKYE BANK'S PURCHASES FOR THE WEEK NOV. 21 - NOV. 25 2016

S/N SOURCE DATE OF FUND PURCHASE EXCHANGE RATE AMOUNT 1 AUTONOMOUS 21/11/2016 314.50 1,801.63 2 AUTONOMOUS 22/11/2016 314.50 301.58 3 AUTONOMOUS 22/11/2016 314.50 3,613.36 4 AUTONOMOUS 23/11/2016 314.50 9,589.82 5 AUTONOMOUS 24/11/2016 314.50 5,675.99 6 CENTRAL BANK OF NIGERIA 24/11/2016 304.50 1,500,000.00 7 AUTONOMOUS 24/11/2016 314.50 8,547.00 8 AUTONOMOUS 24/11/2016 305.00 7,148.80 9 DIAMOND BANK 25/11/2016 305.75 50,000.00 TOTAL 1,586,678.18

www.skyebankng.com THISDAY • NAY JANUARY ,

Nigeria’s top 50 stocks based on market fundamentals

6-Jan-17 5-Jan-17 % Change Capitalisation EPS P/E P/S Div. Yld Price/ Table 1 Market Statistics Book Mkt Indicators Open Close Change % Value 5-Jan-17 6-Jan-17 01 Dangote Cement Plc 167.00 167.02 -0.01% 2,845,764,736,635.00 9.20 18.14 5.01 4.79% 3.80 NSE All Share Index 26,212.09 26,251.39 0.15 02 Nigerian Breweries Plc 142.00 142.00 0.00% 1,125,932,326,096.00 4.03 35.19 3.73 2.54% 6.87 NSE Market Cap (N'Trillion) 9.02 9.03 0.15 03 Guaranty Trust Bank Plc 23.54 23.47 0.30% 692,809,958,932.96 4.90 4.80 1.72 7.52% 1.41 Thisday BGL 50 Index 108.60 108.82 0.21 Thisday BGL 50 Market Cap 8.46 8.47 0.21 04 Nestle Nigeria Plc 809.00 810.00 -0.12% 641,258,907,868.00 8.81 91.81 3.71 3.58% 20.32 (N'Trillion) 05 Zenith Bank Plc 14.77 14.50 1.86% 463,726,213,219.22 3.91 3.78 0.97 12.19% 0.67 Table 3 Top 5 Gainers 06 Seplat Petroleum Dev. Co. Ltd 379.99 379.99 0.00% 210,252,385,836.87 -44.58 -8.52 2.71 4.19% 0.53 Stock Open Close Change 07 Lafarge Africa Plc 40.00 40.00 0.00% 182,196,072,400.00 -9.39 -4.26 0.85 7.50% 0.90 5-Jan-17 5-Jan-17 %

08 Access Bank Plc 6.28 6.14 2.28% 181,667,661,842.68 2.59 2.43 0.51 8.76% 0.41 FCMB Group Plc 1.12 1.17 4.46 Oando Plc 4.54 4.69 3.30 09 Ecobank Transnational Incorporated 9.85 9.73 1.23% 180,743,079,467.75 0.68 14.56 0.31 6.29% 0.29 Access Bank Plc 6.14 6.28 2.28 10 United Bank for Africa Plc 4.68 4.61 1.52% 169,788,183,186.96 1.75 2.68 0.51 12.82% 0.39 Zenith Bank Plc 14.50 14.77 1.86 FBN Holdings Plc 3.44 3.50 1.74 11 Presco Plc 40.10 40.10 0.00% 159,216,129,504.50 0.03 1,371.42 2.23 3.24% 3.81 12 Stanbic IBTC Holdings Plc 15.00 15.00 0.00% 150,000,000,000.00 2.04 7.37 1.07 0.67% 1.27 Table 4 Top 5 Losers 13 Unilever Nigeria Plc 35.00 35.00 0.00% 132,415,368,750.00 0.69 50.57 1.99 0.14% 14.11 Stock Open Close Change 5-Jan-17 6-Jan-17 % 14 FBN Holdings Plc 3.50 3.44 1.74% 125,633,524,772.00 0.21 16.87 0.24 4.29% 0.20 Cadbury Nigeria Plc 10.00 9.50 -5.00 15 Guinness Nig Plc 80.00 78.90 1.39% 120,471,055,040.00 -3.06 -26.16 1.17 4.00% 3.06 Mobil Oil Nig Plc 279.00 265.05 -5.00 Nigerian Aviation Handling 2.86 2.72 -4.90 16 Forte Oil Plc. 80.58 80.75 -0.21% 104,953,927,279.74 3.31 24.37 0.68 4.28% 2.43 Company Plc 17 Total Nigeria Plc 299.00 299.00 0.00% 101,517,029,263.00 38.02 7.86 0.38 4.68% 4.46 Cement Co. Of North.Nig. Plc 4.55 4.33 -4.84 Wapic Insurance Plc 0.53 0.51 -3.77 18 Mobil Oil Nig Plc 265.05 279.00 -5.00% 95,575,774,193.10 19.32 13.72 1.05 2.72% 5.16 19 7-Up Bottling Comp. Plc 129.00 129.00 0.00% 82,636,156,827.00 -0.05 -2,824.30 0.89 1.71% 3.72 Market closes positive as 20 Dangote Sugar Refinery Plc 5.99 5.99 0.00% 71,880,000,000.00 1.03 5.84 0.50 8.35% 1.15 NSE Index gains 0.15% 21 International Breweries Plc 18.50 18.50 0.00% 60,943,611,680.00 0.02 821.05 2.29 1.35% 5.56 Market pulse on the Nigerian Stock Exchange 22 Oando Plc 4.69 4.54 3.30% 56,442,362,612.86 -3.15 -1.49 0.22 15.99% 0.35 (NSE) today – Wednesday, January 6th, 2017, 23 Julius Berger Nig. Plc 38.58 38.58 0.00% 50,925,600,000.00 -2.95 -13.09 0.44 3.89% 2.68 ended on a positive note compared to the previous 24 Flour Mills Nig. Plc 18.48 18.48 0.00% 48,495,903,215.76 -1.19 -15.49 0.12 10.82% 0.49 closing as market closed green. This was further highlighted by positive performance from the 25 Okomu Oil Palm Plc 40.17 40.17 0.00% 38,318,564,700.00 4.82 8.33 5.83 0.25% 2.37 NSE Subsectors: Consumer Goods and Banking 26 Transnational Corporation Of Nigeria Plc 0.89 0.88 1.14% 34,461,687,708.25 -0.47 -1.91 0.66 0.00% 0.47 (Save Insurance and Oil & Gas). Trading activities increased in volume as 210.21m shares worth 27 U A C N Plc 16.64 16.90 -1.54% 31,963,183,399.68 3.37 4.93 0.42 6.01% 0.42 of N1.51 billion in 2,659 deals exchanged hands 28 Fidelity Bank Plc 0.83 0.83 0.00% 24,038,946,124.36 0.39 2.14 0.16 19.28% 0.13 today. This is an increase from the 137.69m 29 FCMB Group Plc 1.17 1.12 4.46% 23,169,171,613.77 0.61 1.91 0.14 8.55% 0.13 shares worth of N898.71m in 2,488 deals which exchanged hands on Thursday. Topping in volume 30 Cap Plc 33.00 33.00 0.00% 23,100,000,000.00 2.28 14.45 3.46 3.48% 13.50 terms are: Oando Plc, FCMB Group Plc and Zenith 31 National Salt Co. Nig. Plc 8.50 8.50 0.00% 22,520,226,213.00 0.85 10.01 1.20 6.47% 3.05 Bank Plc, while Zenith Bank Plc and Oando Plc ended trading as the most active stocks in value 32 Custodian And Allied Insurance Plc 3.70 3.70 0.00% 21,762,897,521.50 0.76 4.85 0.60 3.78% 0.76 terms. 33 Diamond Bank Plc 0.90 0.90 0.00% 20,844,350,071.20 -0.29 -3.07 0.10 0.00% 0.09 The All Share Index (NSEASI) closed positive with 0.15% (+39.30) increase to close at 34 Wema Bank Plc 0.53 0.53 0.00% 20,444,467,022.93 0.06 8.90 0.40 0.00% 0.43 26,251.39 from 26,212.09 the previous trading 35 Sterling Bank Plc 0.70 0.70 0.00% 20,153,292,688.20 0.29 2.43 0.19 12.86% 0.25 day. Market Capitalization appreciated in tandem 36 Glaxo Smithkline Consumer Nig. Plc 15.75 15.75 0.00% 18,835,054,686.00 -2.98 -5.28 0.67 1.90% 2.14 to N9.03 trillion from N9.02 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed 37 Cadbury Nigeria Plc 9.50 10.00 -5.00% 17,842,919,380.00 0.50 19.03 0.64 13.68% 1.75 suit with an increase of 0.21% to close at 108.82 38 Mansard Insurance Plc 1.69 1.69 0.00% 17,745,000,000.00 0.28 6.07 0.89 2.96% 0.84 from 108.60 recorded at the end of the previous trading day, while its market capitalization stood 39 PZ Cussons Nigeria Plc 14.50 14.50 0.00% 14,500,000,000.00 5.69 2.55 1.01 0.69% 0.39 at N8.47 trillion from N8.46 trillion of the previous 40 Continental Reinsurance Plc 1.00 1.00 0.00% 10,372,744,312.00 0.42 2.38 0.47 12.00% 0.55 trading day. 41 Honeywell Flour Mill Plc 1.29 1.30 -0.77% 10,229,954,978.82 -0.40 -3.19 0.21 12.40% 0.31 A total number of 13 stocks gained on the bourse today while 16 stocks declined, leaving 70 42 Skye Bank Plc 0.50 0.50 0.00% 6,940,150,705.00 -2.93 -0.17 0.04 60.00% 0.07 stocks unchanged. FCMB Group Plc emerged as 43 Wapic Insurance Plc 0.51 0.53 -3.77% 6,825,196,508.52 0.18 2.83 0.87 5.88% 0.41 the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.46% to 44 Unity Bank Plc 0.58 0.58 0.00% 6,779,816,006.36 -0.10 -5.66 0.10 0.00% 0.08 close at N1.17 per share. It was followed by Oando 45 Resort Savings & Loans Plc 0.50 0.50 0.00% 5,664,866,202.00 0.03 17.71 3.72 0.00% 1.94 Plc with a gain of 3.30% to close at N4.69 per share. Others on the gainers list include: Access 46 Cement Co. Of North.Nig. Plc 4.33 4.55 -4.84% 5,441,414,726.78 0.22 19.78 0.49 2.31% 0.51 Bank Plc, Zenith Bank Plc and FBN Holdings Plc; 47 UACN Property Development Co. Limited 3.00 3.09 -2.91% 5,156,249,985.00 0.30 10.03 1.22 23.33% 0.14 while on the decliners’ list, Cadbury Nigeria Plc 48 Nigerian Aviation Handling Company Plc 2.72 2.86 -4.90% 4,417,875,000.00 0.15 18.00 0.55 7.35% 0.74 emerge with a loss of 5.00% to close at N9.50 per share. It was followed by Mobil Oil Nig. Plc 49 AIICO Insurance Plc 0.62 0.62 0.00% 4,296,726,777.60 0.22 2.78 0.15 8.06% 0.42 with a loss of 5.00% to close at N265.05 per 50 Fidson Healthcare Plc 1.33 1.33 0.00% 1,995,000,000.00 0.24 5.65 0.30 3.76% 0.31 share. Others on the decliners list include: Nigerian Aviation Handling Company Plc, CCNN Plc and Wapic Insurance Plc. TOTAL 8,473,065,724,954.37 REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does TOTAL MARKET CAP 9,032,484,259,046.31 and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this % OF MARKET CAP 93.81% report. Investors should use this report as one of many other factors in making their investment decisions. Annotation - MA* = Simple Moving Average For more details go to www.thisdaylive.com MONDAY JANUARY , •THISDAY NEWSEXTRA Killers in North-east, Southern Kaduna are Evil, Says Osinbajo Govt will never abandon families of dead soldiers

Paul Obi in Abuja Christian Centre, Abuja, yesterday some of them paid the supreme chiefs and head of all para-military are condemned. there’s not a physical manifestation Osinbajo tasked the military to be sacrifice are evil. agencies, Osinbajo hailed the “The only profession to which of anything that has not been settled The Vice President, Prof. Yemi more committed and dedicated in He challenged both Christians military over the various roles it the body of Christ is compared. in the spirit. Osinbajo, yesterday described Boko its constitutional role of safeguarding and Muslims to remain firm and have played at ensuring that Nigeria The body of Christ is not compared “That every physical war has Haram terrorists and herdsmen the country’s territory, stating that not allow perpetrators of the crises remained one, “especially the latest with doctors, with business men, an underlined spiritual foundation. murdering people in the North-east government was committed to achieve their aim of setting them feat of defeating the Boko Haram with bankers. As a matter of fact, And so as we fight physical battle, and Southern Kaduna as evil. ensuring that the dreams of the against one another along religious terrorists in the North-east, urging I am a lawyer and I know what we recognised that really, we do The vice president stated this fallen heroes for their children were and tribal lines. its personnel not to rest in their oars. the scripture says about lawyers. not wrestle against flesh and during the Inter-Denominational achieved. “And that when any Nigerian is He also assured them that the “The two reasons why followers blood but against principalities Church Service of the 2017 According to him, those killed, it is evil that has presvailed, federal government would not of Jesus Christ are described as and power, against the rulers of Armed Forces Remembrance who caused crises leading to it is darkness that prevail. abandon the families, especially soldiers: The first are the attributes the darkness of this age, against Day celebration at the National deployment of the military where “We must never be decieved children of soldiers who paid that the soldiers have which are the spiritual holds of wickedness by those who killed in the name supreme price to ensuring that unity, brotherhood, loyalty, discipline in the heavenly place. of religion. No religion teaches the Nigeria remains one indivisible and the most importantly, the “Every war, every physical Okafor, APGA Factional National killing of the innocents entity. willingness to make the ultimate battle has a spiritual undertone. “Anyone who kills another and Reading from the Book of sacrifice for the country.” And so today, as we celebrate Chairman Dies in Enugu said God is great is either insane Timothy, in the Holy Bible, the vice He added that “the second our fallen heroes, we do so with or does not understand what he’s president observed that soldiers reason why Christians are often the wisdom of the scripture. Christopher Isiguzo in yesterday. saying. occupy a special place in the compared with soldiers is the First, that the physical battle Enugu Though his family sources could “We are committed to ensuring gospel of Christ, regretting that recognition that life itself is a that they fought for freedom, not be reached for comments, that our fallen heroes, especially the military profession was one warfare, that life is a war. It’s a for justice and recently, against The factional National Chairman of another political ally of the deceased dreams for their children, are in which “saints are condemned.” battle between good and evil and terrorism and hate are battles the All Progressives Grand Alliance said Okafor died at the Niger achieved, “the vice president “Soldiers occupy a special place between light and darkness. fought to ensure that good must (APGA), Chief Nwabueze Okafor, Foundation Hospital in Enugu reiterated. in the gospel of Jesus Christ. The “It is only a fool that does prevail over evil. They are battles is dead. after brief illness. Speaking further at the occasion military profession is the only not know that the physical is fought to ensure that light prevail Okafor became the party’s leader “He complained of weakness attended by all the nation’s service profession to which the saints determined by the spiritual and that over darkness.” following the suspension of the and was rushed to Niger embattled National Chairman, Foundation where he lost the battle. Chief Ike Oye. May his soul rest in peace,” the He (Okafor) was equally source noted. suspended dinning with members It added: “You know he had of his factional executives last week suffered some illnesses when he by Oye and his team fuelling strong was a council chairman. Maybe indications that the party was the illness came back or something headed for a major crisis ahead but I can tell you I was informed of the Anambra State gubernatorial he died this morning (yesterday).” election. In 2015, Okafor contested for Popularly known in Enugu Senate in Enugu East senatorial State with his chieftancy title, district on the platform of APGA Okpochengene, Okafor was a but lost to his Peoples Democratic former National President of Party (PDP), counterpart, senator Association of Local Government Gil Nnaji. of Nigeria (ALGON), and former Shortly after the election, Chairman of Enugu South Local Okafor was nominated the Government Area. APGA National Vice Chairman Okafor’s close friend and (South-east) before he assumed the Assistant National Financial acting National Chairman of the Secretary of APGA, Okecheckwu party when Oye was suspended Nkolagu, who confirmed the by the national executive committee death, said he died at about 8a.m. of the party. Ambode to Reshuffle Cabinet WE WANT CHIBOK GIRLS RESCUED Members of Bring Back Our Girls during their protest on the , day of abduction of Chibok girls to the Presidential Villa, Abuja....yesterday Any Moment Sirika: 2017 Budget will Address Power Failure in As works commissioner resigns Lagos, Abuja Airports, Others Olawale Olaleye age. While several names are being Dele Ogbodo in Kano will come on.” elaborate training facilities, hostels, students from South Africa, Egypt, Any moment from now, the dropped as those likely to be sacked, The Federal Airports Authority swimming pool, golf course and Sudan, Ghana, Gambia and a few Lagos State Governor, Akinwunmi THISDAY has also confirmed that The Minister of State for Aviation, of Nigeria (FAAN), he added, was tennis courts. from India they all came here for Ambode, will reshuffle his 37-man such names as the Secretary to the Mr. Hadi Sirika, yesterday, said prepared this year to ensure that “They have training aid units, training and they got the best of cabinet, in a move that would see State Government (SSG), Mr. Tunji the challenge of power failure there is no power failure in our digital boards, quite a number of training. a majority of the members laid off Bello, will not be dropped on any experienced at Lagos, Abuja, Port airports. active and live hangers to carry “It still remains the same for fresh ideas to be injected into account as he ranks among the Harcourt and other airports across On the completion of the out aircraft maintenance. environment and same college and the system. bulwark of the state. the country would be addressed five new terminals awarded “And of course they are not has been upgraded and I think that This purported cabinet reshuffling Also likely to retain their jobs with the 2017 budget. to the China Civil Engineering 100 per cent, there is room for this is the time that people should is however coming at a time one are commissioners in charge of He affirmed that the 2017 federal Construction Corporation (CCECC), improvement and I have no doubt know about it, and therefore people of the commissioners in charge health, Olajide Idris; his counterpart appropriation has provision for for $500 million, the minister that with support from government should come and partake in what of works and infrastructure, in environment, Babatunde Adejare, alternative electricity power supply, acknowledged that work was they should be able to achieve what the college can offer.” Ganiyu Johnson, has tendered as well as their colleague in should there be failure from the at advanced stage and nearing is expected of them.” The minister, who assured his resignation letter. transportation, Dayo Mobereola. Power Holding Company of completion, adding that the job While, admitting that funding for Nigerians that government will A few more others, sources said, They are among the inner caucus Nigeria (PHCN) at the airports. done looks a good one, though the its agencies is shrinking, he charged build Aviation University with were expected to turn in their of the government and think-tank The minister made the disclosure contractor has not given an exact the management to devise means campuses in Lagos and Abuja, resignations too before they are of the administration. after inspecting the ongoing date of completion of the project. of sourcing for alternate revenue said NCAT would continue to shown the way out by the governor. However, apart from the fact that international terminal building While also expressing satisfaction through exploring alternative source deliver on its mandate while Johnson has however embraced a majority of the commissioners works at the Mallam Aminu with facilities at the Nigerian of funding, adding that it makes the university will be involved the initiative, when it was clear will be relieved of their postings Kano airport in Kano. College of Aviation Technology no sense to decentralise the college in deeper researches in aircraft to him that he would go and the while some of the vacant seats will He however admitted that there (NCAT), Zaria, he said the college is for now. building, design and assemblage. governor is said to have accepted be filled, many others will also be were power challenges across the being repositioned for the mandate He said: “NCAT has capability “The University will be fully his resignation. redeployed to other sectors, where airports in 2016, because there it was set to deliver. to do training in solar light training into research and development Sources within the government the governor thinks they can better was no provision for power in The minister said: “It is very for technicians etc.I think they and production of higher level hinted that apart from age (Johnson function. 2016 budget, adding that the two clear that the College is being have quite a number of things, management manpower and like is over 70), the former works The reshuffling, THISDAY learnt, runways at the airport are in perfect repositioned towards being a they would just settle down and I said you need the University to commissioner is said to be unable is going to happen in a matter of condition. true centre of excellence. need to this out there for the world be able to be go into deep research to fly with the governor’s idea of days as the governor is presently Sirika said: “Here in Kano, we “You can see that this college to see so that they can do with in the hope the in the very near a new Lagos as well as key into putting finishing touches to the have three standby generators in is one of a kind; the only college their capability. future, Nigeria will start to produce his development agenda, factors lists of those going and the new good condition, so should there that I have known to have its “When I was a student here aircraft components until when believed to be responsible for by ideas coming in. be failure, the alternative power own airport, it’s own towers, very some three decades ago, there Nigeria is able to produce aircraft. MONDAY JANUARY , •THISDAY NEWSEXTRA FG Reads Riot Act to Special Varsities over Mandate Violations Senator Iroegbu in Abuja unfortunate situation were commencing the sales. universities of agriculture offer He noted that the delay has The federal government has programmes in law, management been occasioned by the board directed that all specialised courses such as accounting, banking desire to reduce to the barest universities are to stick to their and finance, business administration minimum challenges associated core mandates which they were among others and. As if that was with the conduct of the board’s set up to carry and desist from not enough some institutions examination. running programmes which have changes the nomenclature of some The JAMB spokesperson no bearing to their foundation. of the course to read for instance however, noted that in the final The Head of Media of the Joint banking engineering, accounting analysis Nigerians should note Admissions and Matriculation technology, among other names. that admissions will be conducted Board (JAMB), Dr. Fabian Benjamin, This is an aberration and should within the stipulated dateline. in a statement yesterday, said be stopped with immediate effect,” In view of the above, he said, specialised universities are set he stated. candidates and parents are advised up to pursue specific courses/ In view of this ugly development, not to pay money to any agent, programmes to steer the need of Benjamin said the Minister of bank for any registration as the manpower in a particular sector Education has directed the JAMB Board has not and will not appoint of the economy. to delete all such courses on its any agent. Benjamin listed some of these portal and all candidates desirous “Soon we will commence the specialised institutions to include of sitting for the 2017 UTME are sales and the board will make universities such as universities advised not to be hoodwink into elaborate announcement with jingles of agriculture, universities of such programmes as they are illegal to ensure that the public is well technologies, and universities of and are not provided for in JAMV informed of the commencement medicine, among others. brochure. of sales. He said the federal government Again, he used the opportunity “Our earnest attempt is to come had observed that these institutions to say that the board would has near perfection in the conduct of have derailed from their statutory not commenced the sales of the the next examination and we responsibilities there by running 2017 UTME application forms. plead with the public to support programmes that are antithetical He urged the candidates to the board effort in ensuring that to their mandates. exercise patience as the board is the Nigerian candidate gets the “Government notes the putting final preparations towards best, “Benjamin said. THISDAY Journalist Wins Childhood Development Reporting Award in US

A Health Reporter with THISDAY nutrition. Newspapers, Martins Ifijeh, has The story showed how early emerged one of the three winners intervention with a special of the International Centre for diet helped the little girl avoid Journalist (ICFJ) 2016 Early developmental problems. Childhood Development Reporting According to ICFJ organisers, Contest which was announced in the award recipients, whose stories Washington DC, United States, on emerged best in the three categories January 7. would have an all expense 10 days His winning piece, ‘Malnutrition: trip to Washington, D.C., and New Raising Nigerian Children with York this spring, where they will Low IQ,’ according to a panel receive a cash price and a study of international judges won the tour. Best Report category of the contest, “They will also use the while a journalist from India, opportunity to share their Priyanka Vora, won the Best experiences covering health and Use of Data category with her development, and meet with story: ‘Encephalitis killed children global health experts and in Malkangiri.’ Sharon Barang’a, journalists who focus on early a reporter from Kenya won the childhood issues. While in New Best Visual Category of the early York, the award recipients also childhood development contest will attend the DART Center’s which had entries from Asian, Institute on Early Childhood Martins Ifijeh American and African countries. Experience and the Developing I jeh’s story highlighted Brain,” the organisers stated. protection from disease, violence how malnutrition, which affects ICFJ, which is in partnership and stress. more than 11 million Nigerian with the Children’s Investment Ifijeh is the current winner of children, endangers the mental Fund Foundation seek to the prestigious Nigeria Healthcare and physical health of an entire promote stories on early Media Excellence Award 2016 (Print generation, and how it can childhood development and category). negatively affect the economy the need for proper nutrition, He was described at the award and development of a country. especially within the first 1,000 presentation as a reporter whose He focused on a mother whose days, as this represents the health stories have impacted 14-month-old daughter could not critical period when children need Nigeria’s health sector for good sit or stand and was the size of proper nourishment, responsive in the year under review (2015 a three-month-old due to poor care, learning opportunities and to 2016).

Aremu Asks Ajaero, Others to Return to NLC

Hammed Shiu in Ilorin of a book: ‘Reflections On Good Awujale of Ijebuland, Oba Sikiru Governance and Development,’ Adetona; and Senator Shehu Sani Former Deputy President of the he authored. and Kaduna State Governor, Nasir Nigeria Labour Congress (NLC) He said: “It is never too late to el-Rufai. and now Vice President of Industrial return to one labour movement. Instead, Aremu said the ruling Global Union, Issa Aremu, “Let us bring our grievances elite should disagree on progressive yesterday asked the aggrieved to the table and resolve our national issues to bring about best labour leaders that formed the differences. I am not a party policy formulation for the good United Labour Congress (ULC) to ULC, but NLC.” of Nigerians. to retrace their steps. On the war of words between In his remarks, the Registrar He asked the ULC’s masterminds some Nigerian leaders, Aremu of the Joint Admissions and to return to the fold of the NLC noted: “Nigeria cannot develop Matriculation Board (JAMB), Prof and join hands with its leadership with the ruling elite engaging Is-haq Oloyede, said there are great to find solution to whatever is the in war of attrition on issues lessons that Nigerians could learn problem with the union. bordering on personal issues. from the book. Aremu disclosed this in Ilorin, He cited such wars of attrition Oloyede was represented by Kwara State, during the celebration to include the ones between ex- Justice Mustapha Akanbi as the of his 56th birthday and launch President Olusegun Obasanjo and chairman of the occasion. MONDAY JANUARY , •THISDAY

NEWSEXTRA Bakare Tasks Buhari on Restructuring, Corruption

Shola Oyeyipo titled: ‘Looking into the Future with organisations, Bakare said the been well received by this present mayors within the framework of six “From being dubbed ‘Sin-galore’ the Eyes of Faith’, Senior Pastor biggest indicator of the absence of a government, it is the way to go. geopolitical zones, because they will after independence in 1959 to The President Muhammadu of the Latter Rain Assembly and national vision is the preponderance “Why must we restructure? We be stronger and more productive being ranked the seventh least Buhari-led All Progressives former running mate to President of sectional agitations. must restructure to correct the flaws within a zonal structure. corrupt state in the world by a Congress (APC) government has Buhari, Pastor Tunde Bakare, also He highlighted agitations by in our federal system. A federated As zonal structures, they 2014 Transparency International been tasked to demonstrate the urged the leadership to adopt the the Afenifere Renewal Group state is defined as ‘a territorial and can pool resources to build report, Singapore’s upward audacity and courage required to Singapore model of fighting and (ARG) and the Oodua People’s constitutional community forming transportation infrastructure; as trajectory provides a compelling restructure Nigeria; stop corruption; conquering corruption. Congress (OPC) in the South-west part of a federal union’. zonal structures, they will empower contemporary case study (Tepperman set national goal and move the While he underscored that a to the push for secession by the “Our founding fathers agreed local governments to bring effective 106-107). country forward. national vision must galvanise and Independent People of Biafra that Nigeria would be a truly governance directly to the people.” He implore President Making the call yesterday during inspire corresponding action among (IPOB) in the South-east, from federal state with limited and Eulogising the government for Muhammadu Buhari to borrow a state of the nation broadcast held the citizenry, including individuals, the terror unleashed by Boko specific powers allocated to the some achievements recorded in the a leave from Singapore leader, Lee at the church premises in Lagos families, communities, corporate Haram in the North-east to the federal government and residual anti-corruption war, particularly Kuan Yew, who took personal ugly development involving the powers inherent in the regional with the recent searchlight beamed responsibility for stemming X IGER OVERNOR URE IES Shiites in the North-west, from governments. on the judiciary, the clergyman- the tide of decay, focusing his E -N G , K D the violent attacks by herdsmen “This agreement was the social turned politician said Nigeria campaign squarely on corruption in some parts of the North-west, contract upon which the Nigerian is “still fighting corruption-our which then, as in Nigeria now, According to the commissioner, condoled with the family of the especially the wanton destruction state was formed, but this social nation’s perennial archenemy-with was part of their culture. the state governor, Alhaji Abubakar deceased, government and people of lives and property in Southern contract was broken on May 24, kid gloves.” “As Nigerians know too well, Sani Bello has also declared a work- of Niger State, saying: “My amiable Kaduna, and in the North-central 1966, through the Unification Decree “It is very disheartening that winning an election is one thing, free day on the day of the burial of friend and companion is gone. We from where it has spread down by Gen. J.T.U. Aguiyi-Ironsi’s allegations of corruption remain governance is another kettle the former governor to enable the that were left behind are on transit to the South, and the militant administration, and that was the rife in our country, even against of sh-but we cannot, in good people of the state to accord the sooner or later.” quest for resource control in the day Nigeria died. key office holders in the present conscience, continue to make excuses. departed leader a befitting burial. He prayed for Allah’s mercy and South-south. He lamented that the 36 government. In my search Thirty-five year old Lee Kuan Yew The statement expressed that the forgiveness for Kure and urged Identifying the absence of true federating states are unable to for solutions to our ingrained did not only win but was, in the government would miss the wise the family, people of the state and federalism as fundamental flaw in generate significant internal revenue, corruption, I recently came across same vein as this administration, counsel of the former governor, Nigeria at large to take heart and Nigerian federal system, Bakare, unable to overcome economic the Singapore model of fighting immediately confronted with multi- who despite political differences pray for him in his journey to the who is the convener of the Save challenges and facilitate accelerated and conquering corruption in a faceted threats to Singapore’s stability, never failed to offer meaningful great beyond. On his part, Dogara Nigeria Group, said though the economic growth. book by Jonathan Tepperman titled: including severe under-development, advice to the government. mourned the former governor’s “hues and cries for restructuring “These 36 states should in ‘The Fix: How Nations Survive widespread poverty and ethnic The intervention of the former demise, describing it as a big loss. in our nation appear not to have fact become districts headed by and Thrive in a World in Decline.’ divisions,” he noted. governor during the recent labour In a statement issued last night, crisis in the state was not only the House Speaker also extended legendary but showed him as his condolences to the government an elder statesman, whose main and people of the state. concern was for the good, progress The late Kure was a seasoned and unity of the state. progressive politician and technocrat “Kure remained a leader who whose experience and wisdom would out of office showed concern for be missed, Dogara said the development of the state. His He also sought prayers for Kure’s statesmanship saw him jettisoning immediate family, to have the party affiliation when he personally fortitude to bear the irreparable loss. intervened in the recent labour Also, Wike has expressed sadness crisis in the state,” the statement over the sudden death of Kure, concluded. describing him as a true democrat Already, eminent Nigerians such who contributed to the consolidation as former military president, General of the nation’s democracy. Ibrahim Babangida (rtd), Speaker In a statement last night, Wike of the House of Representatives, said t he received the message of Hon. Yakubu Dogara and Rivers the death of the former governor State Governor, Nyesom Wike have with shock. expressed sadness over the demise He said Kure died at a time that of Kure. the nation needed his contributions Babangida in a statement to further consolidate on the by his media office, said: “The democratic process. sudden death of former governor While condoling with his of Niger State, Kure, this afternoon immediate family and the people in Germany comes to me as a great of Niger State over his sudden shock but as a believer, ‘all souls demise, The governor prayed God must taste death’ sooner or later.” to grant his family the fortitude to The former military ruler bear the irreparable loss. SERVICE FOR FALLEN HEROES L-R: Rivers State Deputy Governor, Ipalibo Harry Banigo; Governor Nyesom Ezenwo Wike; state Chairman, Nigerian Legion, Col Wilberforce Josiah (rtd); Ebira Group Inaugurates and other service commanders, during an Inter-denominational service to mark the Armed Forces Remembrance Day celebration, at the first Baptist 33-man NEC Church, Port Harcourt....yesterday

After far-reaching consultations in the country. These he said are Female Inheritance: I’ll Lead Jihad against Senate, Auchi with various stakeholders, the basic requirements needed by any Ebira Peoples Association (EPA), human society to make meaningful Monarch Vows the umbrella body of all Anebira progress and engender positive at home and in the Diaspora, has development. He appealed to his Adibe Emenyonu in Benin is being manifested in his fight the Senate if they should order the said they saw Buhari die; they constituted and inaugurated its colleagues to join hands with him City against corruption and terrorism. alteration of the Quran. A lot of should wait for what will happen National Executive Council (NEC). in the service of their fatherland. The Otaru, who is also the us are in a specific position to do to them. The new national executive is Adeiza called on the people of The Vice-President General of Chaiman of Mussabaqah, an Islamic what we like but those positions are He continued: “Let us not headed by Dr Musa AbduRahman the state to support the government the Supreme Council for Islamic religious body that coordinates limited in the sense that our deceive ourselves; the issue of Adeiza, its President-General and of the day by offering useful Affairs (SCIA) and Otaru of Auchi Qu’anic recitation competion, body as human can’t access Inheritance is a clear matter. Nigeria Dr Adinoyi Ojo Onukaba as the suggestions on policies and Kingdom, Alhaji Aliru Momoh noted that the issue of inheritance as a slave of the Almighty. is at peace, it means therefore that Secretary- General. The new programmes that would have Ikelebe III, yesterday lent his voice sharing is a serious issue and had “I have been on the issue it is gradually coming down to executive has the imprimatur of positive impact on the lives of in support of the Sultan of Sokoto’s been stipulated in the Holy Quran of inspiration because when us and nobody can take it either the Ohinoyi of Ebiraland, Alhaji the people. rejection of a bill before the Senate and as such had led to a peaceful human beings are given as an individual or a group to Ado Ibrahim, who co-signed Adeiza also called for prayers on female inheritance, vowing to society over the years. spiritual favour they do a disturb this country because the their appointment letters and the for Governor Yahaya Bello and lead a spiritual jihad against the He warned that since the lot of things that they don’t man that is ruling now is the one endorsement of all the first-class his team and for the wisdom and upper legislative chamber of the inheritance sharing in the Quran know about doing. that God has given His mandate. rulers (Ohis) in their four local guidance to succeed in office, while National Assembly should they was given by inspiration, it can He said following his But we have seen countries that are governments, who were equally appealing to the government to pass the bill. only be understood spiritually. spiritual odyssey on President been destroyed because they have present during the inauguration come clean on the issue of salaries The monarch, who made the According to him, “It is the Buhari since he indicated rejected Almighty God whether ceremony. of workers by bringing a closure vow yesterday at the 20th edition of Quran that specifies how you share interest to run for the Christian or Muslim community. Speaking at the occasion, the to the screening exercise, identify the annual Auchi Day celebration inheritance and we have had peace presidency, “I came to the “Let me say again that nobody new President-General called for ghost workers and pay those who of Allah, the Most High, said the in this community regarding how conclusion the Buhari is one of should touch the inheritance that unity, peace and harmonious co- have been screened and cleared country is peaceful because it was you share inheritance. If anything, the few individuals that can’t be is given to us by God himself existence among Ebira people and to address the pervasive poverty Allah’s will that Muhammadu I believe it is a joke but if it is not, shown to the world under any otherwise problem and problem between them and other citizens in the state. Buhari would be president which I will lead a spiritual Jihad against circumstance. Some people who will come,” he stated. MONDAY JANUARY , •THISDAY NEWSEXTRA Last Minute Intrigues as Nwodo, Ejike Battle for Ohanaeze President-General Nwabueze, others allege plot by politicians to hijack the organisation Christopher Isiguzo in major candidates for the position where the position was zoned. deal a huge blow to the organisation various universities--Ife, Ibadan, led to its founding some 40 years Enugu of President-General of the While Nwodo enjoys the in the long run. UNN and UniJos – Dean, Natural ago and to create, as it were, a organisation are former Minister endorsement of Enugu State Meanwhile, Prof. Nwabueze and Sciences, UniJos Vice-Chancellor, new Ohanaeze Ndigbo,” he stated. Ahead of next Tuesday’s national of Information, Chief John Nnia Government, Prof. Ejike, on some groups that endorsed Prof. Anambra State University of He stressed the need for the election of the apex Igbo socio- Nwodo; a former Vice Chancellor his part, has been endorsed by Ejike insisted that Ejike remained Technology. emergence of “strong but humble cultural organisation, Ohanaeze of Anambra State University of a former Secretary General of the best candidate for the apex “From working closely with personalities that could take the Ndigbo, the major candidates are Science and Technology, Prof, the organisation and renowned body’s president-general. Professor Ejike as my Deputy organisation, and indeed the locked in last minute intrigues with Chiweyite Ejike, and Admiral Constitutional lawyer, Prof. Ben They were unanimous that at in the Igbo Leaders of Thought entire Igbo race, to the desired a view to outwitting each other. Allison Maduekwe (rtd). All the Nwabueze, technocrats, youth a time when the organisation is (ILT), I know him to be a good height,” adding that “Prof. Ejike At the moment, the three candidates are from Enugu State groups and Umuada Ndi-Igbo. in shambles, and in some kind of manager of men and resources, is topmost.” Also, some of the candidates disarray inflicted on it by lapses however small the resources, Also, a former Director- for other positions have raised on the part of the leadership in an exemplary leader, a man General of the defunct Nigerian Boko Haram Yet to be the alarm over alleged moves recent years, the need for someone of outstanding intellectual Maritime Administration (NMA), Emasculated, Fayose Tells FG by the outgoing leadership of the “with great integrity, impeccable endowment, with an affable Mr. John Egesi, stated that while organisation led by Chief Enwo character, outstanding sagacity and personality and a high sense all the candidates could do well, Igariwey to impose some candidates intellect, principled and disciplined, of responsibility.” the organisation needs a person .Sympathises with families of slain on the organisation. Okpani Nkama someone imbued with a passion Stressing that Ohanaeze of outstanding “capability” like who is running for the position and a vision for the promotion of should respect it’s constitution, Prof. Ejike. soldiers of National Publicity Secretary the interest of Ndigbo, especially the foremost constitutional Egesi, who opined that the which was zoned to Ebonyi State in the context of Nigeria. lawyer noted that “the of ce Ohanaeze had so far maintained Victor Ogunjein Ado Ekiti the recovery of what they called accused Igariwey of pandering to Former Ohanaeze leaders in a of president-general belongs an “unimpressive record” due to Boko Haram flag as a sign of defeat the decision of the state government statement personally signed by to the entire Ndigbo, not to political meddlesomeness, stressed Ekiti State Governor, Mr. Ayodele of the insurgents while more daring to railroad a particular candidate Prof Nwabueze explained that any one particular state, as that the body “should not be cast Fayose, has commiserate with attacks were being made by the to the position. “Professor C. Ejike seems to be to bestow on it the right to in the hue of a political party or families of the army captain and same Boko Haram against the Another group, Igbo Progressive such a person. He possesses, in impose a sole candidate on perceived as an extension of a five other soldiers reportedly army, killing our gallant soldiers. Movement (IPM), yesterday accused an eminent degree, the qualities the organisation, which he said political party by the generality killedyesterday by Boko Haram “The reality is that insecurity some politicians in the South-east of mentioned above.” would stultify the idea of a of Nigerians.” Likewise, its insurgents during an attacked on has increased in Nigeria more than planning to hijack the leadership of Nwabueze who frowned at any healthy contest or competition, president-general should not a brigade in Buni Yadi, Yobe State, President Muhammadu Buhari the Ohanaeze Ndigbo “apparently form of imposition stressed that: as the guarantee for a credible be “a dye-in-the-wool politician. calling on the federal government met it. Herdsmen have even killed for their selfish interests.” “In terms of educational/academic and competent choice. “As a vice chancellor and to stop deceiving Nigerians with more Nigerians than Boko Haram The group in a statement by qualifications, experience and “The forthcoming election university lecturer, the development stories of defeat of Boko Haram in the last one year while hundreds its leader, Ozo Emeka Ezue, other credentials, Ejike has been provides an opportunity to and advancement of young people terrorists and return of Chibok girls. have died through extrajudicial warned that should the plan of a university professor in the field revitalise Ohanaeze; to inject into all over the country have been his The governor, who maintained killings by security agencies,” the politicians materialise, it would of Zoology for some 23 years at it the spirit; vision and dream that life-time career.” that the ongoing war against the the governor said. Boko Haram terrorists can only be Speaking on the 21 Chibok won through truthful information girls, said to have been rescued, by the federal government and the governor maintained that the cooperation of all Nigerians, asked: real story behind the Chibok girls “If indeed Boko Haram has been abduction will be told one day. defeated, where are those suicide He said the federal government bombings and attacks coming must have to tell Nigerians why from?” the 21 rescued Chibok girls have In a statement issued yesterday, not returned to their families since by his Special Assistant on Public last year October. Communications and New Media, “Have you ever seen anyone Lere Olayinka, Fayose said: that will be in captivity for that “Nigerians are faced with many long and won’t be eager to wars now, Boko Haram is just one reunite with his or her family of them and it is worrisome that two months after regaining we are not being told the truth freedom? about anything. “If the girls are truly Chibok “It is like a patient telling his girls, their freedom must be total. doctor that nothing is wrong with They must also be allowed to him. How will such patient be tell their own stories. “However, treated?” as it appears, the girls may have He said it was funny that the moved from one captivity to federal government was celebrating another,” he said. Air Force Establishes Presence REWARD FOR HARD WORK in Lake Chad Basin L-R: Lagos State Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson Oke; Beneficiary and retired Permanent Secretary, Ministry of Environment, Mrs. Elizabeth Abiodun Ashiru; Director General, LASPEC, Mrs. Folashade Onanuga; and acting Head of Service, Mrs. Folashade Adesoye, during the th retirement benefit bond certificates presentation ceremony in Lagos...... recently Michael Olugbode in troubled Borno State. K O Maiduguri The air chief also said the force has commenced air surveillance on The Nigerian Air Force is to the fringes of Nasarawa and Benue strengthen the nation’s capacity States to tackle the menace of cattle Stakeholders Move to Dislodge Illegal Settlers in to ward off security threats in the rustling and other forms of banditry. North-eastern part of the country He said: “The Nigerian Air Force Lagos Community with the establishment of more will support the theatre to also root presence in the region, the Chief out the Mohammed Nur faction Barely 24 hours after a pro- formed the habit of creating illegal Saturday indicates that both the Williams said past government of Air Staff, Air Marshal Sadique (of the Boko Haram) from northern environment non-governmental settlements and shanties in some state government and the relevant in the state had equally summoned Abubakar, has said. Borno. “We are creating the Forward organisation, Safe Habitat, called water front communities especially stakeholders in Eti-Osa Local the same will to cleanse Kuramo He said as part of efforts to comb Operational Base in Monguno in order on the Lagos State Government in Eti-Osa Local Government Area Government Area of the state have beach of criminal activities in 2007 out security challenges on the fringes to increase or helicopter gunships.” and relevant stakeholders to show of the state, where they constitute started taking steps to remove the by dislodging illegal settlers erecting of Lake Chad, the Air Force would Abubakar said the Nigerian Air serious interest in the activities of environmental nuisance and launch shanties in Ebute Ikate Elegushi shanties there. establish a Forward Operational Force will also establish a Cancer aliens from neighbouring countries criminal attacks on residents of to stop the entrenchment of “We are aware that the Base in Monguno, northern part Centre in Maiduguri as well as Girls and criminals fleeing other parts Lekki, Ikoyi, Victoria Island among environmental nuisance and prompt response by the state of Borno State. Comprehensive Secondary School, as of the country in some riverine others.” security threats coming from and the relevant stakeholders is Speaking at a camp fire organised it’s contribution to the development communities in the state, there are Williams said the earlier the community.” to disallow eeing Boko Haram to mark the successes recorded by of the state. The Air Chief promised strong indications that efforts are on government and other stakeholders While commending the insurgents dislodged from the the force in 2016 on Saturday night that the welfare of officers and men to dislodge them and remove their take decisive action against such state Governor, Akinwunmi North-east, Niger Delta militants in Maiduguri, Abubakar said the of the force would continue to remain shanties any moment from now. settlements and shanties, the Ambode; the Elegushi royal and other criminal elements purpose of establishing the mission his priority. The group with focus on better for the environment, lawful family and the Ikate Elegushi from neighbouring countries was to contain the act of insurgency The Borno State Governor, Alhaji environmental safety had in a residents and business development Residents Association for from having a foothold in Eti- in northern Borno having dislodged Kashim Shettima, in his speech said statement by its Executive Director, of the area and the state at large. rising up to the challenge, Osa and indeed Lagos state. the terrorist from Sambisa Forest. the air component of Operation Ade Williams, last Saturday In a follow up statement Safe Habitat noted that the “We indeed commend this He added that this would also Lafiya Dole has played a pivotal said: “We are concerned about yesterday, Safe Habitat said: “We state government had taken and urge all stakeholders to ensure the return of internally role in the success recorded in the information reaching us that some are glad to update members of similar action last year to rid mobilise support for the effort,” displaced persons (IDPs) back to counter-insurgency operation in aliens and criminals fleeing from the public that further information Ikoyi and Victoria Island of such Safe Habitat Executive Director, their respective communities in the North-east. law enforcement agencies have reaching us after our statement last environmental nuisance. Williams stated. MONDAY JANUARY , •THISDAY CRIME&PUNISHMENT JTF Arrests Militant Leader, Five Others in Delta

Sylvester Idowu in Warri stormed a guest house owned by Niger Deltans especially ex-agitators (alias King of the Forest) in the late team of military officers,” he said. Bounanawei had since accepted Bounanawei Smith alias ‘King of without any justifiable reason. hours of last Saturday. Bounanawei Omare condemned what he amnesty and has been very active Operatives of the Joint Task Force the Forest’. He was arrested along “The latest of such invasion and was arrested while hosting some described as naked, primitive in maintaining peace and security (JTF) code named Operation Delta with five others, including Oyinkuro arrest is the commando style arrest IYC members in his guest house on and unwarranted display of force, in the Niger Delta especially in Safe have arrested six suspected Dofa, Sunny Amange, Ebimene of ex-agitator, Bounanawei Smith Esiso Estate, Warri, by a combined recalling that it was on record that Delta State. militants in connection with series Monday, Churchill Agbelogode,” of attacks on national assets last the source disclosed. year in some parts of Gbaramatu Though the Spokesman kingdom in Warri South West Local of Joint Media Campaign Government Area of Delta State. Centre of Operation Delta Security sources disclosed Safe, Lieutenant Colonel yesterday that the suspects, Olaolu Daudu, could not including a commander, identified be reached for con rmation, as Bounanawei Smith alias ‘King the Spokesman of Ijaw Youth of the Forest’, were apprehended Council (IYC), Eric Omare, at a private guest house on Esiso con rmed the arrests. Estate in Warri by a combined He said those arrested were team of military officers. IYC members and that they THISDAY checks revealed were holding a meeting when that Smith was arrested late last soldiers invaded the venue. Saturday while holding a meeting “The IYC states that the federal with others while some escaped government is inciting crisis in the from the military onslaught. Niger Delta region by the incessant “The military last Saturday night invasion, arrest and detention of Suspected Arsonist Arrested in Ondo

James Sowole in Akure investigation, we discovered that he wanted to set the supermarket The Ondo State Police Command on fire. We are still interrogating ENOUGH OF THE KILLINGS IN KADUNA yesterday said it had arrested a the suspect to know if he was sent Representative of Rivers State Governor and Chief of Staff, Mr. Chukwuemeka Woke (left) receiving a letter from the state Chairman of man identified as Oladapo Alaba by some people or not and also the Christian Association of Nigeria (CAN), Primate ICT Anyanasikike, who led Christian leaders to Government House, Port Harcourt, to for planning to burn down a to know his actual intention for protest the Southern Kaduna killings ....yesterday popular supermarket, Ceci, located deciding to carry out the act,” the in Alagbaka area of Akure, the state PPRO said. capital at the weekend. The PPRO also declared that The Police Public Relations the suspect would be charge to Police Arrest Driver, Three Accomplices for Officer of the command, Mr. Femi court after the investigation had Joseph, who disclosed the arrest been concluded, calling on the of the suspect, said the man was people of the state to cooperate Robbing Boss about to carry out the dastardly act with the police to expose the at about 3am on Friday when the hideouts of criminals in their Chiemelie Ezeobi invaded the home of his ex-boss three months now that I left Mr. my wife, he was the closest person men of the command on routine environments. after learning that he had travelled Ekinodo (his former boss). I had to me. This is a guy that did my patrol caught him. “We need the support of our The Decoy Team of the Rapid to Delta State for the Christmas worked for him for four years shopping for me. Even, before I Joseph said Alaba was suspected people to ght crimes in this Response Squad (RRS) of the Lagos holiday, and that the gatekeeper before leaving him on August, 2016. buy anything for myself, I bought to be one of those hoodlums that state, we, the police cannot do it State Police Command, yesterday had also gone to church. “I left because he had a little for him first. burnt down public places in the alone, we can’t be everywhere arrested one Abass Ope and three Our source said the suspect was challenge and things were pretty “How can I owe him eight recent time in the state. at the same time, that is why other accomplices for robbing his aware of where his boss usually tough for him. I left so that he months’ salary when he never “Our men, while on patrol at we need the people to give us former boss of his car, electronics kept keys to his rooms which could have himself sorted out worked for me in those periods? about 3a.m. saw the suspect at the information about anybody and pet dog. made it easy for him to commit but he was a very nice boss to Did he inform me that I owed premises of the supermarket and suspected to be criminal or engaged The 24-year-old driver from the crime. work with. him? He was never in my house immediately he saw our men he in criminal activities among us. Ogun State was arrested at It was revealed that his ex-boss, “He enrolled me into university in the periods he claimed. ran away but our men chased him “We are committed to ensuring Ojuelegba area of Lagos while on getting report of missing vehicle but I couldn’t continue the “I called him more than twice until he was arrested. that the rate of criminalities is trying to sell off his ex-boss’s and property called the suspect education when I left him. While he when I got the report of the break “We have begun investigation on reduced to the barest minimum Toyota Avensis 2013 model with on more than two occasions to had this challenge, he owed me eight in. He told me he knew nothing the matter and in our preliminary in this state” the registration number AGL 734 intimate him of the development month s salary; this prompted me about it. AR for N2 million. but he denied knowledge of the to take his property and the vehicle. “If he had told me he needed Arrested along with him were incidence. “The auto dealer wanted to pay money, I would have given him three of his friends 23-year-old The source further added that the N2 million for the car but I insisted because we were still very close ASUU Calls for Prosecution of Balogun Oluwaseun, 23-year-old boss had to cut short his holiday in he pays N4 million because I know despite the fact that he was no Agbulu’s Killers Sanni Azeez and 22-year-old Delta with his family to report the it is worth more than that. longer working for me.” Stephen Ewiele. incident at Magodo Police Station. “He offered me N1million instantly Confirming the incident, the Abass was said to have during The source added that he was and that the balance would be ready state Police Public Relations Officer, Yekini Jimoh in Lokoja He noted: “If government the Christmas period stormed his shocked when an official of the in about few minutes time, but I Dolapo Badmos, Superintendent refuses to carry out their functions boss Magodo home, while he RRS called him to notify him of his decided to ignore the offer hoping of Police, advised members of the The Academic Staff Union of as demanded by law, the union and his family were holidaying recovered vehicle because, he never that the dealer would call me back public to always do a background Universities (ASUU) has said it will insist that they comply with in Delta State. reported the theft in RRS office. for a re-negotiation. check of their domestic servants will go to any length to ensure the provision of the law because He was said to have gone with According to Abass, “I took the “I went back to Ojuelegba few so as not to expose themselves to that the three suspected kidnappers we would not allow our colleague a conspirator to move a 100-inch car because I had no money to take hours later in company of three of criminals. that kidnapped and killers of Miss. to die in vain.” LCD TV, another 42-inch LCD care of myself and younger ones. my friends, that was when RRS The suspects have been Christiana Agbulu, a Lecturer Meanwhile one of the three TV, a dog, a suitcase, two DSTV They had no clothes, no shoes and operatives arrested us.” transferred to the State Criminal of Biological Sciences at the suspects that kidnapped and killed decoders and a Toyota Avensis, this is yuletide season. In response, Ekinodo Ifoghale Investigation Department Federal University of Agriculture, the female lecturer has been killed. from the home. “They looked up to me to take said, “I am in shocked. This is a (SCID) Yaba, for further Markudi, Benue are prosecuted. Sources close to the Kogi State It was learnt that the suspect care of these expenses. It was about guy I treated like a son. Apart from investigation. Addressing journalists at the Police Command yesterday disclosed weekend, the Zonal Coordinator to THISDAY that the suspect was of ASUU in Kogi State, Professor gunned down in an attempt to Ukooh David Ikoni, said the three escape from police custody. Student Killed as Cattle Rustlers Again Attack Niger Village suspects must be prosecuted in line According to the source, the with the laws of the land. other two suspects would soon Laleye Dipo in Minna According one of the villagers, Baga said the attack came four Umaru said his people were “We are appealing to the relevant be prosecuted, adding that the Isaiah Baga, the student who he days after some armed policemen being exterminated and that many agencies that are involved in this suspects confessed that they were A 19-year-old senior secondary did not name, came out at about came to patrol the area, adding of them had fled their ancestral case that justice prevails so that behind kidnap and killings of school student has reportedly been 12.28a.m. yesterday to ease himself that “we have reported the latest homes for fear of attack. maximum penalty is applied young ladies in Lokoja in the shot dead by cattle rustlers who but unfortunately fell into the hands attack to the authorities but we In an apparent response to to the perpetuators,” he stated. last four months. attack the Angwa Umadi village in of the rustlers who were operating are yet to hear from them.” the remarks of Umaru, the state According to Ikoni, the late The police source disclosed the Shiroro Local Government Area outside. Senator representing Niger East government at the weekend, Agbulu was buried at her home further that with the relevant of Niger State yesterday morning. Baga said the invaders senatorial district, David Umaru, expressed its readiness and that town Ugbokolo in Benue State last information they extracted from Fifteen other members of the numbering about 40, operated had called on the state government of the security agencies in the state Thursday, adding that her exit the suspects, they would soon village were said to be seriously for about one hour after which and security agencies in the state to tackle the upsurge in cases of was a painful one to her parent arrest some commercial motorcycle injured and were said to be they went away with 212 cattle to rise to their responsibilities by kidnapping and cattle rustling in and the Federal University of riders who connived with the three receiving treatment at the Erena and a number of sheep and seven providing security for the lives and some parts of Rafi and Shiroro Local Agriculture. suspects. dispensary. new motorcycles. property of the people. Government Areas. THISDAY• MONDAY JANUARY ,

Group Sports Editor Duro Ikhazuagbe MONDAYSPORTS Email [email protected] W INTER T RANSFER Ighalo to Decide China Move this Week

Watford striker Odion Ighalo surrounding Ighalo’s future, will decide this week whether insisting he remains with the he will follow fellow Nigeria Premier League club. star John Mikel Obi and take On Saturday, the 27-year-old the “crazy money” China now Ighalo played the entire game offers. as Watford went past Burton Ighalo has long been linked Albion 2-0 to reach the fourth with a big-money transfer to round of the FA Cup. China and it has been reported He has only managed a there is now a renewed interest goal in 17 appearances in in the striker from the Far East. the league, a far cry from Media reports have the 15 goals he netted in his suggested he could well debut season in the English partner Carlos Tevez at Shangai top ight. Shensua after Watford rejected Meanwhile, Chelsea boss a 38 million pounds bid for Antonio Conte has praised the striker from Shangai SIPG Mikel’s contribution to ‘The last year. Blues’ in the 10 years he was Shangai Shensua have at the club. now made Tevez the highest Mikel has left for Chinese paid player in the world on club Tianjin Teda after he lost a weekly wage of 615,000 his rst-team place on arrival pounds. of Conte at Stamford Bridge. In the summer, Ighalo signed Conte said he believes the a new ve-year contract with move will be a new challenge ‘The Hornets’ to cool off for the Nigeria skipper after interests from China. an eventful time at Chelsea. “Yes, it’s a possibility “Mikel played many years he could move to China,” with this club and won a lot. one top source disclosed to But there is a moment you AfricanFootball.com want to change, get a new “There should be an update experience,” Conte said at a in this regard this week.” media brie ng Ighalo, whose international “I wish for him and his future remains in the balance family the best.” on account of lack of goals The Nigeria mid elder for the Super Eagles, spoke of joined Chelsea in 2006 after having sleepless nights before controversially opting out of a he decided not to take “the contract with Premier League crazy money” tabled before rivals Manchester United. him from China. Besides winning all the Watford manager Walter major honours in England, he Mazzarri has tried to avoid also won the UEFA Champions Ighalo…aiming to join Mikel in China being part of the speculations League and Europa League. AJC TENNIS QUALIFIERS Ranieri’s Plaudits for Musa, Ndidi Igbinovia, Abamu Make The performances of Nigerian solid display in the heart of understand English football display. stars, Ahmed Musa and mid eld as the Foxes came better. “I don’t want to focus on Wilfred Ndidi in Leicester from a goal down to complete “Ndidi only trained my performance because City’s 2-1 victory over Everton an important victory. two days with us, but he for me, it is always about Team Nigeria’s Final List in Saturday’s English FA Cup The Leicester City manager showed strong character the team. third round clash at Goodison was duly impressed with his and personality. A great “The team did very well Wilson Igbinovia was the Mohammed Ubale said after the team rounded left veteran manager Claudio Nigerian charges and took the performance,” Ranieri said. (on Saturday) and I think we surprise package at the Ranieri impressed. time to praise the duo for their Ndidi, who arrived from can go far in the competition,” week-long camping of Team off training with a light physical exercise Sunday Musa netted both of sterling performances. Belgian club KRC Genk, he said. Nigeria to the 2017 ITF/CAT Leicester’s goals while Ndidi, “Musa was excellent. refused to accept the plaudits Leicester City has now African Junior Championship evening. Ubale added that the who was making his debut I’ve watched him recently as he instead focused on an quali ed for the fourth round Zonal Quali ers scheduled to on Saturday, produced a and I think he is starting to overall impressive team of the FA Cup. hold in Lome Togo starting target for the team is to from January 11 through finish top of the medals’ January 21. table despite the fact that On his rst invitation to the tournament is taking national camp, the 13-year-old a new format with the Adeseun Replaces Ettah as Terry Sent off as Chelsea sealed his place in the team introduction of team event. that will be defending the The team is scheduled to O’trafford Squash Club Chairman Progresses in FA Cup top place finish by Nigeria move to Lagos today from at the last edition held in where they will depart for The Group Managing Rodot Nigeria Limited and Chelsea captain John Terry was Terry’s error will draw Abuja almost a year ago. Lome on Tuesday. Director of UAC and also the Chairman of HEWS sent off on his rst start since scrutiny but Chelsea were Other players that will be erstwhile Chairman of Foundation. October as the Premier League impressive in responding in the 15-nation tournament O’Trafford Squash Club Elected alongside Mr leaders overcame League One to defeat at Tottenham, alongside the quartet of FA CUP (RESULTS) Ikoyi Lagos, Mr Larry Adeseun at the Annual Peterborough in the FA Cup. their rst in 11 matches in Oyinlomo Quadri, Marylove The Blues made nine all competitions. M’brough 3-0 Shef’ Wed Ettah has been replaced as General Meeting which held Edward, Michael Osewa and the chairman of the club, on Saturday 7th of January changes for the third-round They exuded energy from David Dariwaye, who were Chelsea 4-1 P’borough having completed his tenure are Mr Taye Ige who is now tie and almost trailed when the off and had 20 shots by named earlier at the camping Tottenham 2-0 Aston Villa of 2 years as stipulated by the Vice Chairman; Mr Cyril Asmir Begovic saved Lee half-time as squad players in Ekiti facilitated by NTF 1st the Constitution and upon Ayemere, Secretary; Mr Biyi Angol’s close-range header. such as Nathaniel Chalobah vice-president, Yemi Owoseni West Ham 0-5 Man City his decision not to seek Mabadeje, Captain, Mr Yomi But Antonio Conte’s and Ruben Loftus-Cheek are Matthew Abamu, Michael Man Utd 4-0 Readings reelection at the Club’s Adeyemi, Treasurer and Mr side had 20 shots by half impressing in mid eld. Ayoola, Saminu Abubakar, time, with Pedro’s curled Antonio Conte’s side will Wigan 2-0 N’Forest Annual general Meeting Ademola Olusunmade, Tosin Asogba, Omolade over the weekend. Publicity Secretary. nish and a drilled Michy learn their fourth round Aderemi, Omolayo Bamidele Stoke 0-2 Wolves Elected as chairman in his In his acceptance speech, Batshuayi effort giving them opponents in Monday’s live and Rebecca Peters. West Brom 1-2 Derby stead is the club’s erstwhile Mr Adeseun on behalf of a cushion, before Willian draw on BBC Two and online “It has been a very good Treasurer Mr Remi Adeseun the new executive committee drove in from 18 yards after from 19:00 GMT. preparation for us; Ekiti Bir’gham 1-1 Newcastle who the club members thanked the last exco and the break. Conte felt Terry was hard has been an ideal place as QPR 1-2 Blackburn gave the mandate in an stated his and the exco’s Terry saw red for bringing done by, claiming the decision there was no distraction. unanimous decision. commitment to taking the Angol down as the last man was “not right”. The courts and hotel are Everton 1-2 Leicester Mr Adeseun, a fellow of club to new heights. and Tom Nicholls prodded in But the central defender - just a minute walk. The Preston 1-2 Arsenal the Pharmaceutical Society Present at the AGM were from six yards for a buoyed who was making his 50th FA atmosphere is just perfect Posh, only for Pedro to restore Cup start but only his eighth Cardiff 1-2 Fulham of Nigeria and the Nigeria the members of the club for us to have a great outing Academy of Pharmacy is including the members of a three-goal advantage from appearance in all competitions in Lome,” Nigeria’s coach, Liverpool 0-0 Plymouth the Executive Chairman of the Board of Trustees. the edge of the box. this season. THISDAY• MONDAY JANUARY 9, 2017 55 MONDAYSPORTS After Ballon d’Or, Ronaldo Set to be Crowned 2016 FIFA Best Player Duro Ikhazuagbe In winning his eighth La Liga winner’s medal with The world’s best football Barcelona, he chipped in with players and coaches will 20 goals (putting him third be recognised today at the in the scoring charts) and an inaugural edition of The impressive 16 assists, and also Best FIFA Football Awards won the Copa del Rey for a ceremony in Zurich, fourth time with Los Blaugrana Switzerland. and the Spanish Super Cup All eyes are on Real Madrid for the seventh time. and Portugal talisman, He also starred for Argentina Cristiano Ronaldo to cap a on their run to the fnal of brilliant 2016 with another Copa America Centenario, accolade to his trophy chest. serving up more assists in the Last month, Ronaldo won tournament than any other the France Football’s Ballon player and ending it as the d’Or to emerge the world’s second highest scorer. In the best footballer. He has his process, Messi also became La eternal rival, Argentina and Albiceleste’s leading all-time Barcelona forward, Lionel goalscorer. Messi and Atletico Madrid The third nominee, and France player Antoine Frenchman Antoine Griezmann to contend with. Griezmann, was named the However, in terms of best player both in the Spanish achievements, Ronaldo league, in which he helped stands head and shoulder Atletico Madrid fnish third, above the others. First the and at the UEFA EURO, 2016. former Manchester United Last year will go down as the star triumphed in the UEFA season in which Griezmann Champions League with Real truly came into his own. Madrid, clinching the title by With 40 goals over the course scoring the last penalty in the of the 2015/16 campaign, he shoot-out. spearheaded Atletico and This was a ftting way to France’s respective charges cap a campaign in which to the fnals of the UEFA he fnished top of the Champions League and EURO competition’s scoring charts 2016, although both ended with 16 goals, seven more in heart-wrenching defeats. than second-placed Robert A skilful, unselfsh attacker, Lewandowski. the 5’9 (1.76m) schemer can Then as Portugal captain, quite simply do the lot. Cristiano Ronaldo celebrating afer leading Portugal to win Euro2016 he had the honour of lifting As Griezmann himself the frst major trophy in his recently told FIFA.com, he Award category with Melanie Neid and Pia Sundhage process, in which 50 per cent Player, and Best FIFA Men’s country’s history at UEFA is a “more complete player Behringer, Carli Lloyd and The FIFA Puskás Award of the decision is based on and Women’s Coach awards EURO 2016. Ronaldo’s now” than ever before and has Marta as nominees. 2016 nominees include; the votes of captains (25 per will be given a newly-designed, Portugal secured the honour “improved in every way in the Nominees for the Best Marlone, Daniuska Rodriguez cent) and head coaches (25 platinum-coated trophy. This by upsetting hosts France in last two years”. One person Coach of the Year appear a and Mohd Faiz Subri. per cent) from national teams is the frst award by FIFA after the fnal in Paris. who would certainly echo tough one to predict who is There is also the FIFA Fair all around the globe. ending its fve-year romance With his irrepressible thirst this view is his coach Diego going to smile away with the Play Award and the FIFA The remaining 50 per cent is with France Football and the for goals, power and speed, Simeone, who is on record crown. English Premier League Fan Award. Nominees for split equally between an online Ballon d’Or in 2015. Ronaldo continues to amass as saying that the man they winning gaffer of Leicester the Fan Award category are; public ballot of football fans “The trophy has a shape silverware and records in now call Grizou has raised City, Claudio Ranieri, leads ADO Den Haag supporters, (25 per cent) and submissions which resembles the iconic abundance. his game to such an extent Fernando Santos who won Borussia Dortmund, Liverpool from a selected group of media FIFA World Cup trophy, an Lionel Messi on the other that he is currently “among Euro 2016 as Portugal coach supporters and Iceland representatives (25 per cent) homage to tradition with hand has not showed signs of the top three players in the while Zinedine Zidane who supporters. from all around the world. a contemporary, dynamic letting up. After rounding off world”. also won the UEFA Champions The winners of the Best The vote took place between design. The winners of the 2015 by collecting the adidas The FIFA Awards are not League with Real Madrid are FIFA Men’s and Women’s Friday, November 4 and other awards will also be Silver Ball at the FIFA Club limited to the Best Player in the category. Player, and the Best FIFA Tuesday November 22, 2016. handed different, platinum- World Cup in Japan, he category alone. Awards are For the Best FIFA Women’s Men’s and Women’s Coach According to FIFA, the coated, trophies during the continued to fgure large going to also be given in the Coach Award category, the awards, are determined winners of the inaugural Best ceremony,” concludes the for club and country in 2016. Best FIFA Women’s Player nominees are; Jill Ellis, Silvia through a combined voting FIFA Men’s and Women’s FIFA statement.

AFCON 2017! AFCON 2017! Zimbabwe Players in Bonus Row, Delay Flight

Zimbabwe’s national football over allowances and winning on Tuesday before proceeding players fnally left Harare meeting and the players daily allowances for locally- team refused to board a fight bonuses. to Libreville. yesterday morning while the and administration reached based players and $500 for for the Africa Cup of Nations The team was due to fy After tense meetings with rest of the squad was set to an amicable solution,” ZIFA foreign-based players, instead tournament in Gabon, offcials together on Saturday to the Zimbabwe Football depart later in the day. Spokesman, Xolisani Gwesela, of $50 and $100 respectively. said yesterday in a dispute Cameroon to play a friendly Association (ZIFA), some “We had a fruitful told AFP, declining to elaborate The players had earlier how the impasse was resolved. refused to use “substandard” On Friday, players sat in accommodation at a facility hotel corridors and refused run by the association and to attend a farewell dinner were barred from training at at which the country’s the national sports stadium Vice-President Emmerson over a $60 debt owed by ZIFA. Mnangagwa was the guest Zimbabwe’s economy of honour. has been wrecked by “ZIFA totally condemns the hyperinfation, corruption behaviour portrayed by the and agricultural collapse, and team and their desire to hold the national football team has the nation at ransom in their often relied on well-wishers to quest to earn money that this pay its players and coaches. economy cannot sustain,” the A cash shortage in the association said in a statement country has also seen football late on Saturday. match attendances plummet. Among a raft of grievances, Last year the country was the players rejected $1,000 expelled from the 2018 World appearance fees and Cup preliminary competition demanded $5, 000 instead, over non-payment of a $67 000 sources at the association said. debt owed to former coach Zimbabwe in bonus row with ZIFA They also demanded $150 Jose Claudinei Georgini. T RU N Monday January , TH & REASO Price: N MISSILE NDA to FG “The world is aware that, the government of Nigeria has ear problems, but we never knew that it has taken a deteriorating deaf level dimensions. It is only through hard knocks we can speak to the Nigerian government henceforth” –The notorious militant group, Niger Delta Avengers (NDA) threatening to resume attacks on oil and gas facilities in the region if the federal government fails to accede to its 16-point demands in order to engender peace in the oil rich region. SINAKAWONISE GUEST COLUMNIST Why NCC’s Failed Data Price Hike was Flawed he now suspended to suggest an oligopolistic situation. and international roaming voice rates Nigerian Communications Rather, they continue to compete of the big Telcos. Would the NCC seek Commission’s (NCC) directive among themselves by rationalising to protect the big telcos against ‘small’ to telecommunications their operations and embarking on cost Smile? companies (telcos) to have a saving measures (such as infrastructure So obviously wrong are the assumptions Tfloor price for their services was premised sharing), all to the benefit of subscribers and actions of the NCC on this matter, on the goal of protecting competition and the economy in general. The fear of and given the pervasive corruption in in the sector. The directive purported getting to a monopolistic/oligopolistic Nigeria, that it is difficult to resist the to protect small telcos such as Smile, situation is therefore unfounded, at least temptation to suspect that the NCC must Spectranet and Natcom by fixing a floor for now. have been compromised to come up price that would guarantee that they Four, empirically speaking, one of the with that economic-sabotaging and recover their cost and make profit at small telcos, Smile, is already disrupting anti-people directive. No thanks to the their small scale of operation. the market by selling its voice service current economic recession and all thanks The current price of data per megabyte for 5/min. This is currently the cheapest to popular uproar, the NCC failed in among the big four is as follows: Glo - 21 in the market. Smile is able to do this its bid to return telecommunications to kobo, MTN - 45 kobo, Airtel - 52 kobo, by using a technological disruptive the David Mark era when they weren’t Etisalat- 94 kobo; average price - 53 internet App for its subscribers to make for the poor. kobo. voice calls to all GSM lines in Nigeria, •Kawonise is a former Information For the small telcos, the price structure and to pay the same rate even while and Strategy Commissioner in Ogun is as follows: Spectranet - 58 kobo, abroad. This is disruptive of the local State Natcom- 72 kobo, Smile - 84 kobo; average price - 71 kobo To ‘protect’ the small telcos, NCC Umar Danbaa, Executive Vice Chairman, directed that the floor data price for NCC THE WANING NEWSWORTHINESS OF CONCEDING DEFEAT all Telcos (big and small) should be 90 must subsidise their inefficiency by kobo /Mb - an increase of 328 percent paying more than 300 percent more for on the Glo price of 21 kobo/Mb. I CONCEDED DEFEAT …. I CALLED MY ...YES, data (especially for Glo subscribers). Here is why the NCC was absolutely And that was to happen during a biting OPPONENT TO CONGRATULATE HIM, YOUR wrong to have reasoned and acted the economic recession that continues to BEFORE THE ANNOUNCEMENT OF THE EXCELLENCY! way it did: One, it runs counter to the pauperise our people! Competition was logic of capitalism and principles of FINAL OFFICIAL RESULTS…. conceived and promoted to serve man, free enterprise to fix price in order to not man to serve competition for its protect some operators (big or small). own sake. Anti-trust laws are never designed Three, since GSM operations started in to stymie efficiency but to promote Nigeria 15 years ago, there hasn’t been it through competition. For any new any evidence of price fixing by the telcos entrant or small operator to survive and thrive in an established market/ sector, it must DISRUPT the market/ sector through innovative technology Three, since GSM and/or business model. For Glo to operations started enter and survive in the GSM market I WAS MAGNANIMOUS IN DEFEAT – ...YES, more than 2 years after MTN and then in Nigeria 15 years I PLEDGED TO SUPPORT AND GUIDE YOUR Econet had been dominating the market, HIM… I SHOCKED THE WHOLE WORLD EXCELLENCY! it disrupted the sector with per second ago, there hasn’t been billing which MTN and Econet said was BY DOING THE UNEXPECTED! impossible. any evidence of price Currently in the United Kingdom, ﬁxing by the telcos to Virgin Telecoms entered the crowded telecom sector by disrupting it with the suggest an oligopolistic technological innovation of launching internet vehicles into space. That situation. Rather, they innovation enables Virgin to charge a mere £15 per month for a subscriber to continue to compete have 5,000 minutes to call UK lines, 5,000 among themselves minutes to make international calls, and 5 gigabytes of data all in one month. by rationalising WHY IS THE WHOLE WORLD WELL, SIR, IT APPEARS SINCE The resultant effects is that hundreds of NOT APPLAUDING ME AS THE UNEXPECTED EMERGENCE thousands subscribers hitherto paying their operations and LOUDLY AS THEY DID WHEN OF TRUMP AS PRESIDENT OF other telcos an average of £60 per month for less benefits have migrated to Virgin. embarking on cost PRESIDENT JONATHAN OF AMERICA, NOTHING SHOCKS Now, that is disruption for entry and saving measures NIGERIA CONCEDED DEFEAT? THE WORLD ANYMORE! thriving! It is therefore wrong for a regulator to seek to protect so-called small (such as infrastructure operators by fixing an inefficient price floor for them to continue in efficiency. sharing), all to the Two, to protect three inefficient telcos, owned by probably less than 100 beneﬁt of subscribers Nigerians and foreigners and which have and the economy in among them less than 5 percent market share, 100 million Nigerian subscribers general 09-12-16

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