Diplomatic Baggage (Part II) How Britain tried to get Dikko Out of London FORCES AINST Saudi Arabia RisICOO Germany DM3.50 CFA Zone 500 ^^A $3 50 Zimbabwe $1.30 France 13F Kenya Sh 20 UK £1 50 The Gambia D4 Liberia .. L$ 2.00 Be sure your Anchor holds a Solid Rock In times like these, when the financial climate is rough and uncertain, you need Citizens Bank to anchor onto. Introducing Citizens Anchor Account. Citizens Anchor Account gives you, your spouse and children a free accident cover in case of accidental death or permanent disability. ♦ Minimum deposit of N50,000. ♦ 300% free accident cover of your deposit f Automatic free accident insurance cover for your spouse and children ♦ Free medical related expenses of up to N50.000 ♦ Easier claims processing through Corporate Citizens Insurance brokers ♦ Pays up to 15% per annum on your deposit. ♦ Minimum Tenor 90 Days ■ ‘ i * your Citizens Banker or telephone our 24 hour hotline: 01-2030289 for details Acr.o\iïQ underwritten by THE LION OF AFRICA INSURANCE COMPANY LTD. (B CITIZENS BANK CITIZENS INTERNATIONAL BANK LIMITED yoasi sUyJit to bccocejtd LAGOS: Head Office: Plot 130 Ahmadu Bello Way. Victoria Island, P.O.Box 53174. Falomo, IKoyi, Lagos. Tel: 01-2601030-9, 2691474, 2691475. Telex. 28330/22952. Fax: 01-2615138. Broad Street: Mandilas House. 96/102 Broad Street, Lagos. Tel: 01-2662699, 2662368, 2665899. kJumola: 134, Nnamdi Azikiwe Street, Idumota, Lagos. Tel: 01-2669454, 2664522. 2660536. _________ Ikej*:_____________ALL SEASON PLAZA, Opposite Cadbury (Nig.) Pic., Lateel Jakande Road, Agidingbi, Ikeja, Lagos. Tel: 4972698-4972701. ONITSHA: Investment House. 49, New Market Road, Onitsha, P.O. Box 7702 Anambra State. Tel: 046-218191, 219619. Fax; 046-219619. KANO: 54, Ibrahim Taiwo Road, Kano. P.O. Box 14448, Kano State. Tel: 064-630486, 649688, 647998. Fax: 064-637642. ABA: 85, Cameroun Street. Aba, Abia State. Tel: 082-220788. Fax: 082-226493 208: Faulks Road, Aba, Abia State. Tel: 082-225144 P/HARCOURT: 5A Olu Obasanjo Street. Port-Harcourt. Rivers State. Tel: 084-239798, 239996, 230207, 090500986 WARRI: 67. Efturun/Sapele Road. Warri, Delta State. Tel/Fax: 053-233139 CBN/BSD/ADV/041/1172/94 <n>0085 What do these market leaders have in common? DEBT CONVERSION GUINNESS OVERSEAS LIMITED | OFFER FOR SUBSCRIPTION and *30,000,000 Unaacurad Roaring Rata Redeemable Loan Stock 1996/1990 UNILEVER PLC fa have converted appradmarety US$8.8 miRon TEXACO NIGERIA PLC of the sovereign debt of the Federal Republic I of Mgeria inder (ha Ntaertan Debt Conversion \ to Programma in ordar to Inanca (hair prcMde addKcnal working captai ter tha 1 participation in a right» iaaua mad» by company » expanding marketing and Guinna»» Nigaria Pic. manufacturing operations Offered by RR*T CITY MERCI OFFER BY RIGHTS smKr 42,188,000 OrdHary shares of 50k each at RESTRUCTURING ^ÊÊÊÈm 124k par share valued*f62,313,120 of *150,000,000 UAC OF NIGERIA PLC PFIZER PRODUCTS PLC tlIlÉlllÉ for through a scheme of arrangement to replace expansive short-term borrowing» CMB TOYO GLASS NIGERIA PLC with mere permanent fuming. Ptzer to Corporation tnanced its partidpaticn in this previds inandng fa the acquWBon of issue through the cotversicn of US$3.9m addüonsl production assets end wcrWng sovereign debt of the Federal Republic of Financial Advisers to UAC captN Ï •e 1 Nigeria under the Nigerian Debt Conversion fi Programme. 3p§§MH Mgerts United Apart Bank Conversion Agent and Issuing House IlililP-' \mm] fSEmî RRBT CfTY MERCHANT BAMC LMBTED RRBT CITY MERCHANT BAMt LANTED January’*) HR ST CfTY MERCHANT BANK L MUTED Jtn* 1SS* 6«p<anb*> IMB V, OFFER BY RIGHTS 12,000,000 Orctnary aharae of 50k each at 2S0k par shwe valued *30,000,000 in AIICO INSURANCE PLC to comply with tha inaurance Decree 1991 and strengthen (ha company1» working captai and technological ba»a. Offarad by They do business with First City Merchant Bank Limited. Wouldn't you like to be one of them? FIRST CITY MERCHANT BANK LIMITED CBN/BSD/ADV/214/1159/94 LAGOS OFFICE: Primrose Tower (6th-l0th Root), 17A, Tinubu Street, P.O. Box 9117, Lagos, Nigaria. Tel: 01-2665944-53 (10 lines). Telex: 28894, 28428 Fedty NQ. Fax: 2665126. KANO OFFICE: African Alliance House (3rd Roor), F1 Airport Road, P.O. Box 12555, Kano, Nigaria. Tel: 061-646411, 646412, 646510, 631766, 631767. Fax: 626611. \aapn 0136 Prima»Garnet J Corporate enlightenment serial II \ t v A Cement production: Electrical Energy Consumption Power supply is critical and central to Elephant Cement production. Electricity supply to our two factories comes in two forms - from NEPA and from WAPCO's own generating sets. Between the two factories at Ewekoro and Shagamu, WAPCO consumes no less than eleven million kilowatt hours (kwh) per month. This is enough to supply, for a whole year, a well populated city. At an average cost of N1.35 per kwh, this amounts to about #200 million per annum in power consumption alone. In this regard, WAPCO stands out clearly as the highest consumer of electric power in Nigeria today, after the Steel Industry. In addition to paying current energy bills of #200 million per annum, WAPCO has invested about #140 million in power generators and in power related projects with a view to maintaining steady production of high quality cement. Power costs presently represents 11% of the manufacturing cost of Elephant Cement. So when next you are buying a bag of your favourite Elephant Cement remember that 11% of its manufacturing cost is for electiricity consumed in the process of making it. WEST AFRICAN PORTLAND CEMENT PLC Elephant Cement House, Ikeja Central Business District, Alausa, P.O.Box1001, Lagos. Tel: 01-4901060-9 Telegrams and Cables: Wapcemo Lagos. Elephant Cement ...the best around. PNL aapn/0038 Outline FEBRUARY 13,1995 NIGERIA’S WEEKLY NEWSMAGAZINE VOL. 21 NO. 7 Nigeria: Cover: 12 Umaru Dikko advocates defence pact with a Super Power as a way out of frequent military The Unforgiven intervention in Nigeria's politics • The Nigeria Union of Teachers The Yoruba and the Igbo suspends its nation-wide strike but the problem with the face a difficult task of education system lingers • The building a bridge over a Nigeria Medical Association and gap created by factors of the Confederation of African history, politics and hatred Medical Association wash their dirty linen in public Africa: Warlords in Liberia's civil war once again fail to give peace a Business + chance in their war-tom country Economy: 27 • A guerrilla warfare in Sierra Leone threatens the government Haven for of Valentine Strasser Fraudsters Business + Economy: 31 Savannah Bank of Nigeria Pic is certified "technically States' budgets for 1995 fiscal year insolvent" by the Central reflect their various economic Bankfollowingwide-spread capacities and developmental malpractices by directors, needs management and staff 6 Letters Special 7 Cartoon Section: 35 8 Osundare 9 Editorial Suite 11 Essay Diplomatic 32 Sports Baggage 33 Book Review Cover MOSSAD and Nigeria: The Dikko Story - Part II Design by Tunde Soyinka Newswatch (ISSN 0189-8892) is published weekly by Newswatch Communications Limited, No. 3 Billings Way (off Secretariat Road), Oregun Industrial Estate, Oregun, P.M.B. 21499, Ikeja, Lagos, Nigeria. Telephone: 4960950. Fax: 962887. Telex: 27874 NEWCOM NG. All rights reserved. Reproduction in any form, in whole or in part without permission, is forbidden. Printed in Nigeria by Academy Press Pic, llupeju. LETTERS ■ 1994: What a Year? its performance in US'94, but our national political leadership team is neither Your edition on the events of 1994 admired by the masses of the country nor (January 2) cannot be equalled and it by the international community. couldn't have been better. It is simply a Enyioma Nwoko, treasure and has confirmed your rating Umuahia. as the premier Nigerian newsmagazine. Thanks for increasing my reference stock. Just like 1993, you failed to report the Ebere Wabara, epileptic nature of our higher institutions Lagos. occasioned by the protracted strike of ASUU. You should not have overlooked I wish to point out that the informa tion an event which affected the youths in provided in Science/Technology section particular and our nation in general pertaining to the fossil, Lucy, does not adversely. contain the up to date facts. Although Achusi Celestine Chinedu, "until this year the famed Lucy and her Lagos. fellow members of the species, Events of the year 1994 gave insight to Australopithecus afarensis, were the oldest the fact that creation has one eternal God, known members of the human family," but not one temporal destiny. this is not the case any more for "at 4.4 Peter Dominic Anyanzou, million years of age, the newly unearthed Obowo, Imo State. Australopithecus ramidus is the closest link yet (no longer missing) to the common In 1993, Nigerians survived three As we recapture and shudder at those ancestor of apes and humans." different governments. In 1994 they had gory images of 1994 which are gradually For further information, there is a to survive high prices of virtually fading, my earnest desire is that the legacy "second major find: Homo-erectus, the first everything. What a year. of 1995 makes a whole lot of difference— Lucy's descendants to leave Africa, made John A. Iwori, heal frayed nerves and return smiles to that move about 800,000 years earlier Port Harcourt. the suffering-induced wrinkled faces of than had been thought." our beloved people. N.D. Briggs, Nigeria is a country whose football Ukonu Kalu Agbai, Port Harcourt. team is highly admired and respected for Aba, Abia State. Typed reactions to the contents of Nezvswatch, should be addressed to Newswatch Letters, 3 Billings Way (Off Secretariat Road), Oregun Industrial Estate, P.M.B.