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Maintaining Market Dominance, Tier 1 Banks Widen Gap with Tier 2 Lenders

Obinna Chima results of 11 banks, comprising The tier 1 bank results comprised Fidelity Bank Plc, (NSE) of further delays in the the end of 2017, higher than
the five tier 1 banks and six reviewed were those of Zenith Stanbic IBTC, Sterling Bank, release of their respective the N30.665 trillion recorded
The full year 2017 audited tier 2 lenders, showed that Bank Plc, Guaranty Trust Bank First City Monument Bank results, saying that their in 2016.
results of banks have shown the tier 1 banks continued to (GTBank) Plc, United Bank (FCMB), Ecobank and Wema audited financial statements But the five tier 1 banks
that the gap between the tier 1 control a significant chunk of for Africa (UBA) Plc, FBN Bank. would be ready this month. listed above, at N22.355 trillion,
and tier 2 banks in the country, the market in terms of assets, Holdings Plc and Access It is worthy of note that The review conducted by accounted for 64.5 per cent of
in terms of market share, has gross earnings, loans and Bank Plc. Diamond Bank Plc and Union THISDAY showed that the total assets in 2017, while the
continued to widen. advances, customer deposits On the other hand, the six Bank of Nigeria Plc notified total assets of the 11 banks
A review of the audited and profit before tax. tier 2 bank results reviewed the Nigerian Stock Exchange increased to N34.631 trillion at Continued on page 8

Don't Turn to Propaganda Poster Boy, PDP Tells Osinbajo… Page 57

Monday 7 May, 2018
Vol 22. No 8418. Price: N250
& RE A S O

APC Asks Aggrieved Members to File Appeal After Marred Congresses

Party to conclude Ekiti guber primary, 27 aspirants kick Fayemi threatens to sue if results are annulled
Don’t turn state to war zone, Fayose warns
Onyebuchi Ezigbo in Abuja Saturday’s ward congresses with complaints to direct them should continue from where who called for the outright the Oluyemi Kayode stadium
and Victor Ogunje in Ado Ekiti of the All Progressives to the appeal panel. it stopped. cancellation of the primary in Ado Ekiti, the state capital on
Congress (APC) in several The party has also directed But this bid not go and the conduct of a fresh Saturday, was disrupted midway
In a bid to address the states of the federation, the that its primary for the Ekiti down well with 27 of the election.
grievances that trailed last party has appealed to those State governorship ticket governorship aspirants The primary, which held at Continued on page 8

Unidentified Gunmen Kill 45 in Kaduna

John Shiklam in Kaduna State and encircled Gwaska up
to neighbouring Kuiga village
It was yet again another day shooting sporadically.”
of tears and sorrow at Gwaska The source said most of
village in Birnin Gwari Local those killed were those that
Government Area of Kaduna tried to fight back, including
State, after the community was women and children who
attacked by unidentified armed could not escape.
bandits on Saturday, leading He added that several
to the deaths of 45 residents people were injured during
and several injured. the invasion and were taken to
The incident was said to a hospital in the Doka district.
have occurred at 2:30 a.m. and “We will continue to appeal
happened barely 48 hours after to the authorities to take
the Inspector General of Police, urgent steps to forestall further
Mr. Ibrahim Idris and the attacks and the extinction of
General Officer Commanding communities in Birnin Gwari
(GOC), 1 Division, Nigerian Local Government Area,” he
Army, Kaduna, Maj. Gen. said.
Mohammed Mohammed had A combined team of
visited Birnin Gwari. Nigerian troops and members
The IG had during the visit of the local vigilante group
ordered for the immediate were said to have rushed to
deployment of an additional the village when the incident
200 policemen in Birnin Gwari occurred, but by the time they
to tackle the continuing raids arrived the community, the
by armed bandits who have bandits had fled.
been killing, kidnapping and The vigilante group source
robbing people in the area. said: “We were in Gwaska
A source within the Birnin together with the military around
Gwari Vanguard for Security 7 p.m., but the commander asked
and Good Governance, who the soldiers to retreat because
pleaded anonymity, said it was getting dark.”
the gunmen came from He said several people
neighbouring Zamfara State. were still missing, adding that
“The armed bandits came DOGARA SHOWS RANCHING CAN WORK…
from neighbouring Zamfara Continued on page 10 Speaker of the House of Representatives, Hon. Yakubu Dogara, inspecting livestock at his farm at the weekend
2 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 3
4 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 5
6 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 7
8 MONDAY, MAY 7, 2018 ˾T H I S D AY

total assets of the tier 2 lenders tier 1 banks alone accounted N14.665 trillion in 2017, slightly customer deposits of the of N838.719 billion posted as Managing Director, Afrinvest
stood at N12.276 trillion during for N2.681 trillion or 64 per higher than the N14.528 trillion 11 banks stood at N21.132 profit before tax (PBT) by the Securities Limited, Mr. Ayodeji
the same period. cent of total earnings in 2017, recorded in the previous year. trillion in 2017, higher than the 11 banks in their combined full Ebo, attributed the yawning
In 2016, the total assets of as against the N2.200 trillion Just like other indicators, the N19.644 trillion they realised in year 2017 results, higher than gap between the tier 1 banks
the five tier 1 banks stood at recorded in 2016. five tier 1 banks gave out the previous year, at N13.321 the N633.286 billion recorded and tier 2 banks to the fact
N19.581 trillion while those But in the year under review, 63 per cent of the loans and trillion, the five tier 1 banks in the previous year, the five that the bigger Nigerian
of the six smaller lenders the above-mentioned tier 2 advances as they accounted accounted for 63 per cent of tier 1 banks accounted for 77 lenders have been riding on
accounted for N11.083 trillion banks reported gross earnings for N9.197 trillion in 2017, total customer deposits. per cent or N645.864 billion of economies of scale and larger
of total assets in the same of N1.525 trillion (36%) in 2017, lower than that of N9.277 The tier two banks, on the the PBT they made in 2017, up branch networks.
period. higher than the N1.316 trillion trillion in 2016. other hand, posted combined from N525.813 billion in 2016. “Because of these, the tier 1
Also, while the 11 banks in 2016. However, the tier 2 banks in customer deposits of N7.810 The PBT of the six tier 1 banks have been squeezing out
realised combined gross Findings also showed that all gave out N5.468 trillion in trillion or 37 per cent in 2017, bank in the year under review, their tier 2 counterparts. What
earnings of N4.205 trillion in total loans and advances of 2017, higher than the N5.251 higher than N6.996 trillion in however, stood at N192.855 the latter can do is to ride on
2017, up from N3.515 trillion the 11 banks whose results trillion recorded in 2016. the previous year. billion, up from N107.473 technology to improve their
from the previous year, the five were reviewed stood at Similarly, while total In the same vein, of a total billion in 2016. market share,” he explained.

by suspected thugs owing to the “The primary election chairman of a free and fair election is for “Should the party go ahead Oni said he supported the idea was a show of shame.
alleged irregularities that dogged has spoken to the national the electorate not to have doubt. and do that, I will not hesitate but it would be difficult to achieve Fayose warned the APC in
chairman after consulting with When a system is doubted in to go to court to seek redress,” given the current fierce rivalry his state not to turn Ekiti into
the exercise. the aspirants. an election it becomes invalid. Azeez stated. among the aspirants. a war zone, given the violence
Some agents working for other “The position is that the process “When a system is disrupted, “I support consensus but that displayed by its members during
aspirants had accused the former should resume as quickly as it becomes invalid. An invalid is now impossible because the the primary.
governor of the state and Minister possible. The issue of indefinite primary cannot produce a valid
Oyegun’s Integrity at perception of the society makes He expressed concern that the
of Mines and Steel Development, postponement does not arise,” candidate. We want to have a Stake it difficult for politicians to reach APC could replicate the violence
Dr. Kayode Fayemi of colluding the party said. credible election so that the a compromise. on July 14 during the governorship
with the security agencies and electorate will be able to vote Also reacting to the outcome “Politicians are always under election.
members of the Governor Tanko 27 Aspirants Kick for us at the main election. of the primary, former Ekiti State pressure from their admirers, so According to Fayose, “It is
Al-Makura-led primary committee “With what happened, governor announcing to them that you have a sad day for democracy in
to skew the outcome of the But the statement by the APC we believe sincerely that the Segun Oni yesterday, called on stepped down for someone else Nigeria, especially from a party
primary in favour of the minister. contrasted sharply with several committee was culpable and the national chairman of the party, could create a bad impression for in government that prides itself
This came as the Kayode of the aspirants, as 27 of the 33 the security agencies were Chief John Odigie-Oyegun and you. It will be difficult to achieve as progressive.
Fayemi Campaign Organisation governorship aspirants in Ekiti compromised. So the thugs the National Working Committee at this level,” he noted. “It is a clear indication that APC
threatened to sue the party if the State yesterday called for the that disrupted the election, it (NWC) to investigate the errors Meanwhile, Fayemi and will fail woefully in the July 14
results of the inconclusive Ekiti disbandment of the Al-Makura-led was some people that allowed that led to the inconclusive Senator Babafemi Ojudu, governorship election because
primary are annulled. committee, alleging open bias them in,” he said. primary. another APC aspirant exchanged apart from its rejection by Ekiti
Stepping into the imbroglio, and incompetence exhibited in Oni, former APC national barbs yesterday over who was people, the party has become a
however, the state governor, deputy chairman (south) and
Ayodele Fayose of the Peoples
the conduct of the suspended Fayemi Threatens Law governorship aspirant of the party,
responsible for the disruption of house divided against itself, its
election in the state. the primary. centre can never hold.”
Democratic Party (PDP) warned The aspirants posited that Suit said the way some people who While Fayemi accused Ojudu Fayose, in a statement he
the opposition in his state not to the shoddy way the committee But even as the party moved were discovered to be friends of a and Hon. Bimbo Daramola of personally signed, also said:
turn Ekiti into a war zone, given handled the primary was what to resolve its fractured ward particular aspirant were nominated being the masterminds behind “We thought that we have gone
the violence already displayed led to the violence that marred congresses and go ahead with to the primary committee, calls the violence that caused the beyond the era of ballot box
by APC members during the the exercise on Saturday. the Ekiti gubernatorial primary, to question the integrity of the suspension of the primary, Ojudu stuffing and snatching as well
primary. In a communiqué issued and the Kayode Fayemi Campaign party’s national leadership. said the former governor was too as violence and killings during
The APC last Saturday had read by one of the aspirants, Organisation earlier yesterday Oni spoke in Ifaki, Ekiti desperate to get the ticket, saying elections until yesterday’s show
organised ward congresses in 33 Dr. Mojisola Yaya-Kolade, after threatened to sue the APC if yesterday while reacting to the his antics would fail this time. of shame.
states of the federation and the a marathon meeting, the 27 the results of the inconclusive violence that marred the APC A statement yesterday by “This development should be of
Federal Capital Territory (FCT). aspirants expressed regret over Ekiti governorship primary are governorship primary. Fayemi’s media aide, Yinka great concern to all well-meaning
While the exercise was hitch-free the unfortunate incident that led annulled. Oni, however, saluted Al- Oyebode claimed that the Nigerians as we approach the Ekiti
in a few states, there were protests to the protest and subsequent Addressing journalists in Ado Makura for doing a thorough job disruption of the primary election and Osun governorship elections
and incidents of violence in many disruption of the primary. Ekiti yesterday, Fayemi’s agent, only for his efforts to be allegedly was the height of desperation on as well as the 2019 elections.
others, resulting in deaths in Rivers They alleged that members of Mr. Samuel Abejide, said five sabotaged by unscrupulous the part of some aspirants, who “Another worrisome
and Delta States on the eve of the primary committee, headed local government councils had elements around him. having seen defeat staring them development is the information
the congresses and on Saturday, by the Nasarawa State governor, voted before the uprising that led He described the violence as in the face, conspired together to at my disposal that the APC
respectively. Al-Makura, had compromised the to the abrupt suspension of the very unfortunate, insisting that ensure that the exercise was not is plotting to sponsor thugs
But in a statement issued integrity of the poll, noting that exercise, saying the results from Oyegun must investigate how the concluded. to disrupt the PDP primary
yesterday by the party’s this had invalidated its outcome. the local government areas were secretary of the committee, Hon. The minister was quoted in the election scheduled for Tuesday,
National Publicity Secretary, The aggrieved aspirants alleged valid in the face of the law and Mogaji Aliyu, a known ally of statement to have said that the May 8, 2018, so as to create
Bolaji Abdullahi, APC hailed the that they noticed lopsidedness and the Electoral Act. one of the aspirants, was made aspirants had resorted to violence the impression that violence is
congresses, describing them as bias on the part of the committee Naming them, he said the a member of the panel. and destruction, having realised common to all political parties.
“highly successful”. members, and called on the elections in Ekiti East, Moba, Like the aggrieved 27 aspirant, that he was already in a clear “I, therefore, call on the
“APC wishes to congratulate national leadership to smoothen Ilejemeje, Ado and Ijero Local Oni did not name the favoured lead in the five local government security agencies to act decisively
all its members for the generally all rough edges for the poll to be Governments had been concluded aspirant. areas that had cast their votes. to nip this sinister plan in the
peaceful conduct of the party’s re-conducted. when the primary was disrupted. “Those who have a penchant “If the quest for a political bud. The police should not shy
ward congresses which took “We want the committee to be Other delegates, who expressed for cheating and fraud structured position is to serve, then one away from its responsibilities.
place across the country over disbanded completely and our their preparedness to sue the party the primary to favour a particular wonders why the desperation “Ekiti was adjudged by the
the weekend. National Working Committee at the press conference included aspirant. I was the APC national being displayed by the likes police as the most peaceful state
“The party especially should set up a new committee Dada Sunday Ebenezer, Emmanuel deputy chairman for four years, of Femi Ojudu and Bimbo in Nigeria, it must remain so.
commends members who served to conduct another primary that Adekunle and Jimoh Azeez. despite that I never used my Daramola.” “In the last three years, our
in the congress committees for will meet international standards,” They said the party owed them position to influence anything But Ojudu dispelled the state has been peaceful and never
their dedication and impartiality. the aggrieved aspirants said. a duty to protect the rights of its about a primary I was directly allegation, describing it as a witnessed any sponsored political
“We, however, acknowledge The also claimed that many of members, noting that their voting involved in. spurious and senseless accusation violence or killings until this
there were some issues arising those on the panel for the conduct rights should not be an exception “When you have a penchant coming from those that were APC desperation set in.
from the conduct of the elections of the primary were friends of in this case. for fraud or cheating the system, averse to democratic ideals. “I also call on Nigerians, as well
in some states. a particular aspirant, who they Abejide also accused the security it makes democracy looks sour Addressing journalists in Ado as the international community
“With this in view, the party failed to name, adding that this agencies of being compromised, and uninteresting. Ekiti on the issue, Ojudu clarified to focus their attention on Ekiti
had set up various appeal could vitiate the outcome of the wondering why the perpetrators “How would one feel to get that he was not desperate and that State from now on. Ekiti people
committees which will begin election. of the violence that took place to the field of play and find out accounted for why he did not go must be allowed to choose their
sitting from Monday, May 7, 2018. “We are determined to win the were allowed to go scot-free in that the referee was nominated by to the election venue with party next governor under a free and
“We, therefore, call on all party Ekiti governorship election, but the presence of more than 200 one of the teams? We found out supporters, saying: “I even hate fair atmosphere,” he stated.
members to remain law-abiding the right thing must be done for a security forces deployed for the that the secretary of the committee seeing thugs around me.
and where there are issues, they candidate that will command the primary. was nominated by an aspirant, “They said I was desperate, let
should seek redress through respect of everybody to emerge,” Fayemi’s agent also denied and Governor Al-Makura later us ask ourselves, who among the
the appeal committees in their they added. allegations that the Al-Makura-led got to know about this and aspirants took delegates to Igbara
respective states,” the party said. They suggested that the fresh committee had apportioned more dropped him from functioning Oke and Owo in Ondo State to
The APC also directed that primary should be conducted than the required number of agents as the returning officer. camp? It was Fayemi. He was
its primary for Ekiti State “Even the fraud permeated the TOP GAINERS NGN NGN %
in an enclosed environment to to the minister to the detriment of the one who compromised the
governorship ticket should prevent natural occurrences like other contestants, saying this was ranks of the security agencies. I committee and bought over the SEPLAT 35.10 737.10 5.0
continue from where it stopped rain from disrupting the process not possible under the structures quite appreciate the fact that security agencies to compromise FBNHOLDINGS 0.60 12.85 4.9
on Saturday. violence was not the right way,
The national leadership of the
as witnessed on Saturday. put in place at the venue. the process. COURTVILLE 0.01 0.22 4.7
“Apart from that, no aspirant “We believe the process of the but it was caused by the pent-up “I brought him to Ekiti, I did
APC said that it had resolved the anger. FCMB 0.11 2.51 4.5
should have more than one agent election was free, fair and credible a lot for him to be governor, so
“issues and that the election can because many of those who gained and that is why the results should “That is why the NWC led by I have always known him to be WEMABANK 0.04 0.94 4.4
now proceed”. entry under the guise of being be sustained. Chief Oyegun owes all of us a desperate and we were getting TOP LOSERS NGN NGN %
Another statement by Abdullahi agents to some aspirants were “If they knew that they were thorough explanation on how video clips on how he offered GSK 2.90 30.30 8.7
yesterday said the primary election used to perpetrate evil,” they leading, why should they ask for Mogaji found himself on the bribes to delegates and how he
committee had been asked to go committee and how to prevent DOUBLE11 9.00 172.00 4.7
stressed. cancellation?” he asked. was making calls at the election C & I LEASING 0.07 1.34 4.9
back and complete the exercise. Also, the state chairman Reinforcing the position such in the future, except we are venue to the top security brass
The party said the exercise of the APC, Chief Jide Awe, canvassed by Abejide, Azeez hiding under democracy to fool in Ekiti and Abuja to cheat the FLOURMILLS 1.80 35.20 4.8
should be completed as soon called for the annulment of stated that it would amount to ourselves. system. LIVESTOCKFEEDS 0.04 0.83 4.6
as possible but did not give a the suspended primary, saying: an abridgement of the rights of “Whether I will be governor or “Let me tell him, all these antics
date for the resumption of the not or hold political office in the HPE Nestle Nig Plc ₦ 1,422.50
“There is no way you can conduct voters if the results from the will not work. The primary will
primary. a primary without allowing the primary were annulled. future, I think enough is enough be conducted and it must be free, Volume: 242.291 million shares
The APC statement read: “The State Executive Council having “I am a delegate of the APC with respect to the desperation by fair and credible,” he said. Value: N3.027 billion
situation in Ekiti is regrettable. The a say in the process. and I voted during the election. people to get to certain positions, But even as the APC
issues have been resolved and because we must give confidence Deals: 5,746
“The aspirants were not happy. The process in those mentioned governorship aspirants engaged in
it is our hope that the exercise There are a lot of lessons to learn local governments was free and to our people,” he said. a blame game over the suspended As at 4/5/18
can now continue from where When asked whether a
it stopped.
from the process as a party. fair, so I don’t expect the party
consensus will be a better option,
primary, the state governor See details on Page 35
“One of the cardinal principles to annul it. yesterday said what was witnessed
T H I S D AY MONDAY MAY 7, 2018 9
10 ˜Ϳ˜ͺ͸͹Ͷ˾T H I S D AY


Many Wins of Buhari‘s US Visit

Last week’s bilateral meetings between President Muhammadu Buhari and US President
Donald Trump at the White House, including Buhari’s meetings with top executives of some
US companies, got a lot of wins for Nigeria. Tokunbo Adedoja writes
For the better part of last week, Even before their departure
global media focus was on from the U.S., members of
Nigeria as United States President the Nigerian delegation were
Donald Trump hosted President confident that the engagements
Muhammadu Buhari in the they had were fruitful and
White House. Buhari’s visit to beneficial. They were of the view
the White House, the first by any that they got all they wanted.
sub-Saharan Africa leader since “It was a good meeting and
President Trump assumed office it’s a win-win for both Nigeria
over a year ago, enjoyed days of and the U.S. There were a lot of
media blitz. Expectedly, the keen wins,” Foreign Affairs Minister
interest in Buhari’s visit among Geoffrey Onyeama enthused.
U.S. media outlets was somewhat “Today has been a good day for
tied to the alleged vulgar remark the United States and it’s actually
made by Trump a few months a good day for Nigeria,” Industry,
earlier about African countries. Trade & Investment Minister
From the preview of his Ikechukwu Enelamah said,
arrival in the U.S. to the joint adding that in those meetings,
press conference in the Rose “businesses were literally striking
Garden, coupled with the warm deals”.
handshake by both leaders and One of such business deals was
that remarkable photo opportunity struck two days before the arrival President Muhammadu Buhari (middle) chairs a meeting between top U.S. company executives (sitting on the right) and the
with Trump grinning and leaning of Buhari in Washington. It was Nigerian delegation (on the left) at the Blair House, Washington D.C... last week
over Buhari’s shoulder while a deal with the GE Consortium,
(Buhari) was signing the visitor’s comprising SiniHydro, Transnet anti-terrorism campaign and had also raised the possibility of countries as “shithole countries” a government to government
book in the Oval Office, images and APM Terminals for the even partly paid for the aircraft, Trump visiting Nigeria “soon”. took that issue off the table and cooperation; government to
and clips of the visit went viral interim phase of the Nigerian the meeting between Buhari and At the joint press conference with provided a venue for Trump to business cooperation; and
on the internet. narrow-gauge railway concession. Trump erased fears that it was Buhari, Trump said he would love appeal to his own political base, business to business cooperation.
The reports, images and video That interim agreement would a one-off deal. to visit Nigeria, although he did with his remarks on the killing “At this particular meeting,
clips of the leader of the free world last for 12 months during which Trump emphatically stated, not provide specific timelines. A of Christians by Islamist groups the government to government
and the largest economy with remedial works will be carried out in response to a question on visit by the U.S. president places and the call for the removal of level involved not only the
the leader of Africa’s biggest on part of the narrow-gauge rail how soon those aircraft would the country visited under global trade barriers, which his business two presidents meeting but
democracy and its biggest line system to make it technically be delivered, that those reasons media attention. If Trump does, friends in America would want also cabinet members were
economy sent an unambiguous and economically operable. A joint that denied Nigeria access to then he will be the first U.S. to hear. there,” he noted, adding that
message about the strategic operation will also be established such military hardware were president to visit Nigeria in a “Among other things, Buhari’s for the government to business
partnership between Nigeria between the consortium and the not tenable. decade. visit may have at least partly level, President Buhari met with
and the U.S. Nigeria Railway Corporation with “Part of the problem is you Foreign Affairs Minister defanged criticism of Trump that various businesses and had
A week after the visit, an initial supply of 10 locomotives weren’t allowed to buy helicopters Onyeama noted that presidents’ he is racist vis-à-vis his alleged very productive and engaging
the media have not stopped and 200 wagons. in our country and now you are. schedules were usually tight and derogatory remarks about Africa. discussions with them.
appraising Buhari’s engagements The second phase will revamp I worked that out so that now that it could take a year to plan However, the Buhari visit is likely “I think the necessary thing
in Washington. The common the existing rail network and you can buy the helicopters that such visits. He, however, said: to have only a limited impact now is follow-ups. We stay
thread in all the reports was build new ones. The first phase you want. “Maybe sometime next year on American domestic politics engaged and build on what we
the conclusion that he returned is valued at over $40 million while “They weren’t allowed to we could envisage something in the run-up to the mid-terms know to be a good relationship
home with a basket full of wins the second phase is $2billion. buy the helicopters for various like that.” in November,” the former U.S between Nigeria and the U.S.
for Nigeria. There were also several reasons, which frankly weren’t The United States got its own envoy said. I think what happened just
Prior to the visit, both the expressions of interest in investing good reasons. Now they get them, wins, so did President Trump. Campbell further noted: “For underscored it and we will not
White House and Nigerian State in Nigeria at the meetings and they get them very quickly, One of such wins was the call Buhari, the trip was a win in take it for granted,” Enelamah
House had released statements held at the Blair House with and they are the best helicopters for the removal of trade barriers ways that are more concrete. said.
on issues that would come up for top executives of some U.S. in the world. which has now been brought to President Trump reaffirmed Already, follow-up meetings
discussion. The statements listed companies, including those in “We are also helping our the front-burner of discourse Nigeria’s regional leadership role, have commenced. Attorney
security, trade and governance as agro-businesses. For example, Nigerian partners by facilitating between the two countries. The promised security cooperation, General Abubakar Malami
key focal points of the bilateral John Deere - a U.S. company intelligence cooperation and balance of trade between Nigeria and promised that the attorneys met with his U.S. counterpart
talks. These issues were discussed that manufactures agricultural, providing training and military and the U.S. shows Nigeria has a general of the two countries are Jeff Sessions last Tuesday
at the meeting between the two construction, and forestry equipment to Nigerian forces. bigger balance sheet, but that is looking for ways to return stolen in Washington to work out
presidents in the Oval Office, at machinery - was said to be For example, we recently sold because of Nigeria’s oil exports Nigerian funds, estimated at $500 modalities for the return of
the working lunch of 1+10 on looking into assembling and to Nigeria 12 US A-29 Super to the U.S. million, parked in the United Nigeria’s stolen money. Those
each side at the White House, supplying tractors in Nigeria. It Tucano aircraft, great aircraft, in Trump canvassed for the States.” discussions are expected to
and emphasised at their joint will start with a few hundred, then the first-ever sale of American removal of trade barriers that In the Nigerian government culminate in the repatriation of
press conference. thousands and its full expression, military equipment to Nigeria,” affect U.S. agriculture produce, circles, optimism about over $500 million stolen from
Investment and financing it is expected to exceed 10,000 Trump said. but that could also aid Nigeria’s concretising the outcomes of the Nigeria and stashed in banks
opportunities were also explored tractors. Trump’s acknowledgement of agriculture exports. Nigeria does bilateral meetings is high. This in various jurisdictions.
at the meetings Buhari held with Another major win for Nigeria the effort to redeem Nigeria’s not seem to be averse to Trump’s is because the engagements in In a couple of weeks,
top executives of some U.S. was the unambiguous expression “massive reputation of corruption” call. Industry, Trade & Investment Washington had the fundamental Enelamah will also be meeting
companies at the Blair House of support for the battle against through the current anti-corruption minister said: “The important ingredients required for with U.S. Secretary of Commerce
where he stayed during the visit. terrorism without preconditions. crusade, which had been faulted thing is that the balance of trade successful outcomes. Wilbur Ross to look at the
The round-table discussions Efforts by Nigeria in the past to severally by critics as a witch-hunt should grow on both sides and it Drawing from his experience commercial and investment
provided the opportunity for get military hardware from the and one-sided, was a big win should be a win-win. And that is of engagements with nations dialogue in details. The call for
top Nigerian companies and US had met with several hurdles for Buhari. exactly what will happen based and businesses as trade and the removal of trade barriers
business leaders to interface with involving allegations of human Coming at a time when there on what we see today.” investment minister for close would be part of the discussions.
top executives of U.S. companies, rights abuses and lack of corporate were allegations of selective Former U.S. Ambassador to to three years, Enelamah posited More of such follow-up
where Nigerian policymakers, led governance. application of his anti-corruption Nigeria, John Campbell, said that economic cooperation meetings will hold on other
by the president, were seated. Though prior to the visit, crusade, the thumb’s up from Buhari’s visit to Washington requires working at it from three issues discussed in the bilateral
There couldn’t have been a Nigeria had secured America’s Trump will be a talking point was a small win for Trump. levels, and those three levels meetings in the coming weeks
better demonstration of Nigeria’s nod to purchase 12 Super Tucano for the regime as it approaches He said Buhari’s response to a must click for cooperation to and months to fully concretise
commitment to the investment aircraft for deployment in the the 2019 election. question on Trump’s derisive go far. the outcomes of the bilateral
talks. ongoing counter-insurgency and Buhari’s visit to Washington description of some African He listed the three levels as talks.


arrangements were being made on Birnin Gwari, the Kaduna Muhammadu Buhari has already with sadness reports of the between the state and federal the creation of the Birnin Gwari
to evacuate more people who State governor, Mallam Nasir given approval to that effect. murder of our citizens by armed governments have yielded Police Area Command and
had sustained injuries from el-Rufai commiserated with its In a statement by Samuel bandits in Birnin Gwari. results. President Muhammadu two new Divisional Police
gunshots. residents over the killings. Aruwan, his spokesman, el-Rufai “The Kaduna State Buhari has approved the Headquarters.
When contacted, the He disclosed that the security said the police IG had already Government is deeply committed establishment of a permanent “The State Emergency
spokesman of the Kaduna challenges facing the area would approved the establishment to overcoming the unfortunate battalion of the Nigerian Army Management Agency (SEMA)
State Police Command, Aliyu soon be over as a permanent of the Police Area Command criminality and banditry being in the Birnin Gwari general area. has also been directed to
Mukhtar, said in a text message battalion of the Nigerian Army and two new Divisional Police carried out against innocent “The new security provide relief materials with
that he “will get the details and and a Police Area Command will Headquarters in Birnin Gwari. citizens in Birnin Gwari Local arrangements also involve immediate effect to the affected
get back”. be established in Birnin Gwari. The statement said in part: Government Area. policing. The Inspector General communities,” the governor
Speaking on the latest attack The governor said President “The state government received “The engagements of Police has already announced said.
T H I S D AY MONDAY MAY 7, 2018 11
12 T H I S D AY MONDAY MAY 7, 2018
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16 T H I S D AY MONDAY MAY 7, 2018
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18 T H I S D AY ˾MONDAY, MAY 7, 2018

Group Politics Editor Tobi Soniyi


07054786260 SMS ONLY


Buhari Alone Isn’t the Problem

Though there is enough proof to justify the claim that President Muhammadu
Buhari has fallen short of expectations, the challenge of transforming Nigeria goes
beyond the president, write Tobi Soniyi, Segun James and Shola Oyeyipo

President Muhammadu Buhari Chief Justice of Nigeria, Walter Onnoghen Senate President, Bukola Saraki

any are disappointed today spartan lifestyle, Buhari would make all the daughter that is dead. from continuing milking the country?
because the president, difference. With his abysmal performance “It’s a terrible thing. A nation may Even when the country is not earning
Muhammadu Buhari so far, Buhari obviously isn’t the messiah survive a civil war, but no nation can enough to take care of the citizens, the
has not been able to Nigerians have been waiting for. Some of survive a religious war and remains the lawmakers don’t love the country enough
transform Nigeria into his shortcomings include: He is insensitive same.” to make concession and reduce what they
a new country where to the needs and feelings of the people he He therefore called on the president to take from the country.
everything suddenly becomes functional. governs, his poor handling of the economy do more to stop the killings. It will take our willingness as a people
Nigerians expected so much from the (allowing the naira to depreciate to as The Christian Association of Nigeria, to do that which is right and good for
president. His party, the All Progressives low as N350 to a US Dollar for instane), (CAN) also called for a national day of the people before the country can be on
Congress promised so much and is deliver- making appointments that ignored the protest to draw attention of government a path to development.
ing so little to the disappointment of many. ethno-religious setting in the country, his to the killings. Jolted by the killing of Leadership is important, but we are
As 2019 general election approaches, we aversion for due process and rule of law. two priests and 17 worshippers of St. wrong to keep on focusing on the Presi-
are beginning to make the same mistakes. Under his watch, in the last four months Ignatius Catholic church, Mbalom, Gwer dency as a place where this will happen.
We are hoping that whoever becomes of this year, over 1000 persons have been East LGA of Benue State, CAN President, Not necessarily. History is replete with
president should be able to correct all killed in various parts of the country by Rev Olasupo Ayokunle, urged Christians stories of those who changed their country
the structural imbalances afflicting the herdsmen and, all the president did was to hold the peaceful protests within their even when they are not occupying any
country. But the bitter truth is that this to lament. church premises on Sunday April 29, 2018. leadership position.
is not going to happen. Since the killings began, the presidency He said: “CAN urges Christians in If we remove Buhari, will that solve
The best we can get is some opaque was not only in denial but was also de- Nigeria to hold peaceful protest on the the problem of electing into the National
tinkering with the existing structures fending the atrocities. Those who should set aside date, in the premises of their Assembly people who don’t understand
which will not fundamentally change help him stop the killings are themselves churches asking the Federal Government what they do there? This reaction of Senator
the country. bereft of ideas. and the security agencies to stop the Abu Ibrahim (Katsina- APC) during the
So, we should begin to lower our Apart from the herdsmen, militias have unending killings and bloodshed in the debate on whether to impeach Buhari
expectations. been on a killing spree in the northern country. for paying $469m to the United States
Just like the president, we all have our part of the country. The General Overseer “Christians are to carry placards with of America to buy fighter jets without
fair share of the problem. of the Redeemed Christian Church of God, inscriptions meant to address issues about appropriation raises the question whether
Pastor Enoch Adeboye who usually refrains sustained killings, attacks and destruction the Senator should he there in the first
Buhari Is a Problem from commenting on political issues is of their property in Nigeria. instance.
But the president is a problem for many unable to hold himself back after news “The inscriptions on placards could read, The Senator accused senators of the
reasons. No doubt, a president is in a broke out that some gunmen went into “Enough of bloodshed in Nigeria”, “Enough People’s Democratic Party (PDP) of
vantage position to steer the ship of the a church and killed people. of unlawful killings in the country”, “FG, conspiring to impeach Buhari.
country to eldorado. And from the look He said: “It doesn’t matter the denomi- Release Leah Sharibu from the bondage”, He justified the president’s decision
of things, this president isn’t doing that. nation…by the special grace of God, all “FG, Stop Herdsmen Killings”, “CAN rejects to make the withdrawal on precedence.
Just like his predecessors, and Nigerian Christians in Nigeria call me daddy. So FG’s poor handling of insecurity”, etc. “He took action based on national
past leaders, Buhari is turning out to be when any of them dies, it’s my son or “Government should be called upon to interest, that’s why he authorised this
a disappointment. perform their constitutional responsibility of payment. As far as I’m concerned, this
This much was stated by Nigerian protecting citizens now. No excuse should is the first time that money drawn from
foremost novelist, Professor Chinua Achebe be given for this wicked act again and excess crude oil account is being brought
when he wrote: “The trouble with Nigeria is perpetrators must be brought to book now.” to the National Assembly. Since they begin
simply and squarely a failure of leadership. to operate this account, I have never seen
There is nothing basically wrong with Many wrongly assume But the President Isn’t the any expenditure that was brought here
the Nigerian character. There is nothing Problem for approval.
wrong with the Nigerian land or climate that Nigeria will become Many wrongly assume that Nigeria “$17.7 billion was drawn by (ex-President)
or water or air or anything else. The a better place once Buhari will become a better place once Buhari Obasanjo to pay the Paris Club without
Nigerian problem is the unwillingness is no more at the helms of affairs, the National Assembly approval. Obasanjo left
or inability of its leaders to rise to the is no more at the helms of truth, however is that this is not going N9.3 billion in excess crude account but
responsibility, to the challenge of personal affairs, the truth, however to be the case. former President Goodluck Jonathan …the
example which are the hallmarks of true If we remove Buhari and elect someone money with no recourse to the National
is that this is not going to else as the president, will that person
Many had hoped that because of his be the case be able to stop the National Assembly CONT’D ON PAGE 19
T H I S D AY ˾MONDAY, MAY 7, 2018 19



It will take our willingness

as a people to do that
which is right and good
for the people before the
country can be on a path to

Assembly. The account was increased to

over $20 billion in 2008 and decreased to
less than $4 billion by Jonathan in 2010.
It never came to National Assembly for
“$2 billion was used by the previous
PDP administration to fight Boko Haram
in 2014. Governor Godswill Akpabio was
the one who moved the motion at the
National Economic Council to get the
money. $5 billion was taken for power
generation, funding was also sourced for
Niger Delta, the same process was not
taken by (ex-President Yar ’ adua). It was
later taken to the National Assembly and
it was approved.
“This is a PDP conspiracy. I will like
PDP to tell us which of their governors
has taken the money released from excess
crude oil account to the state assembly for
approval. If this is a PDP conspiracy to
tarnish the image of Muhammadu Buhari,
they will not be able to do it because we
are coming out with figures.”
People voted Buhari because they
thought he would not be a Jonathan or
an Obasanjo.
Besides, this idea of defending our
tribesmen even when they have done
what is wrong has become a part of our
politics. The Southwest did that when
Olusegun Obasanjo was president. The
South-south and the South-east rationalised Chief Emeka Anyaoku
and justified all the wrong things Goodluck
Jonathan did as president. No one should electronic recording of court proceedings. When will the people be able to have the those aspiring to rule them and ensure that
be surprised, the north is defending il- They keep the nation backward and allow courage to insist on what is right from only people that demonstrate exception-
legality perpetuated by Buhari. Those who litigants to die before the courts determine those who hold power in trust for them? ally leadership qualities are elected into
should defend democracy and the people their cases. But we all blame the president! If Buhari leaves will our politicians public offices.
are busy defending their tribesmen. If the president moves in to help with suddenly become democrats? Or will it Again, we refer to the attributes of a good
The question is, if we get a new president, this, it will become interference in the suddenly inculcate in all of us democratic leader as identified by elder statesman,
will this culture of tribalism suddenly affairs of the judiciary. Nothing is going values? Anyaoku. He said: “A leader must, in my
disappear? Will loyalty to ethnicity disap- to change in the judiciary regardless of While it should be conceded that there view, possess to a good degree inter alia
pear if Buhari leaves will our attachment who becomes the president unless those is no basis for comparing Nigeria with the following attributes: the capacity to
to our ethnic group which often prejudices in charge become bold and introduce the advanced democracies, there is noth- inspire and form affinity with the people
our approach to issues disappear? necessary reforms. ing wrong with adopting that which is that the leader is leading; the capacity to
Will the new president be able to stop We need innovators and reformers in all good from these countries. When you have and articulate a vision of where he/
states’ governors from stealing funds meant segments of our society but what we get are given a job to do and it turns out she plans to take the country concerned;
for their states and local government areas? are people who tinker with the structures that you can not do the job, you should the capacity to deliver electoral promises;
One of the recurrent frauds the Economic and make incremental improvements. honourably resign. Everyday, people are and the capacity to identify with and be
and Financial Crimes Commission has If Buhari leaves, and a new president killed in outrageous circumstances, yet, seen to be tackling the challenges facing the
had to deal with is the issue of governors comes in, will our attitude to obedience the minister for defence is holding on to people he/she is leading. Hence, leadership
diverting and stealing funds meant for to law change? Has anyone asked why his appointment. The Inspector General of is primarily about service, and servant
local government areas. Not one of those drivers did not obey traffic laws during Police is safe in his job. If Buhari leaves leadership enables the building of trust
governors has been convicted. This isn’t Jonathan and are still not obeying the or a new government takes over, will this with bonding and continuing inspiration
a Buhari’s creation. If we have a new law now that Buhari is there? stop to be the practice? of the people. A good leadership must be
president, will this stop to be the case? Has anyone asked why the Nigerian There are democratic values that are not defined by discipline, resilience, persever-
The states are already terrorising local Immigration Service’s offices nationwide written in any law which are observed in ance, determination, unyielding devotion,
governments, they withhold their funds, collected more than the required fees to the interest of the people and the country. and, above all, a strong political will to
meddle in their affairs and determine issue passports during Jonathan regime Nigeria is racing towards another act without deference to sectionalism.
who become chairmen and councillors. and they are still doing it now that Buhari general elections, the likelihood is that “It is not always easy to find a conver-
Yet the same states want true federalism. is there? the result will not produce any significant gence of all these attributes in a single
If we change the president, will the new When Jonathan was there, we paid for difference unless the electorate begin to individual.”
president be able to stop this invasion drivers’ licenses but we did not get the act differently. He mentioned three examples of leaders
of councils by states? licenses Today, we still suffer the same In this regard, the advice of a former whose performance in their countries had
Will the new president be able to make problem. Secretary General of the Commonwealth, demonstrable achievements, especially in
the judiciary to become fast and efficient The reality is that it will take more Chief Emeka Anyaoku is very timely and putting their countries on the global map
in justice delivery? than a president to change this country. relevant. Speaking on the theme ‘Leadership and in some cases, lifting them from the
We like to blame the president for all and the Future of Nigeria’ at a symposium nadir of developmental challenges
the woes in the country. But is it the to mark the ten years anniversary of the “A common feature of their successful
president that is making it difficult for the death of Senator Abraham Adesanya, leadership is their capacity, during electoral
judiciary to stop the practice of taking notes Anyaoku said: “Now that national elec- campaigns and on assumption of office,
in long hands which results in wasting tions are approaching in 2019, I would to spell out in clear and unambiguous
valuable time doing what technology has like to end by urging all intending voters terms the goals and guiding principles
taken care of in other climes? Nigerian to regard a firm unambiguous and time- that would define their tenure in office”,
judges waste enormous time writing down History is replete with specific commitment to the restructuring of he added.
everything the lawyers say. And Nigerian stories of those who Nigeria’s present governance architecture, Nigerians will have to begin to do
lawyers are very verbose. So our judges as the pre-requisite for voting for any things differently to expect a different
are writing themselves to death. But they
changed their country political party and its candidates.” result. Everyone has got a role to play.
don’t travel to Saudi Arabia or London even when they are not The electorate should stop basing their Nation building is not for those elected
on horseback. They fly. They like the fact occupying any leadership decision on primordial sentiments. They into offices alone, the citizens should not
that technology has revolutionized how should stop mortgaging their future for accept the status quo as it. They have to
we travel but they refused to embrace position peanuts. They should dig into the past of continue to strive for a better country.
20 T H I S D AY ˾˜͵˜ͰͮͯͶ

FEATURES Acting Features Editor Charles Ajunwa


Experiencing GTB’s Food and Drink Fair

Kids and teens who participated in the third edition of the GTBank Food and
Drink Fair had real-time culinary experience and great fun, writes Peter Uzoho

oremost African financial institu-
tion and lifestyle bank, Guaranty
Trust Bank Plc (GTB), staged for
the third time, its Food and Drink
Fair which succeeded in attracting
tens of thousands of Lagosians to the
bank’s event centre at the Water Corporation
Drive, Oniru, Lagos.
Organised every year as part of the bank’s
corporate social responsibility, the fair is designed
to celebrate Nigeria’s vibrant food culture and
promote enterprise in the small business sector
of the food industry by bringing together SME
operators, global renowned chefs and food
lovers from across the world.
Held for two days in the last two editions,
the third and 2018 edition was extended for
three days and featured different activities. There
were adult and children masterclasses in the
art and business of foods and drinks where
renowned chefs delivered a host of live cooking
demonstrations of their favourite delicacies.
Arriving at the venue the first day, Sunday,
this reporter was stunned by the heavy crowd
on ground right from the outdoor area to School children at Chef Muse's class
the experience centre as people jostled to
find their way in and out. However, having
already anticipated this kind of multitude,
the bank’s logistics team put up measures
to ensure there were no issues. On the wall
as one entered the experience centre was the
floor map which helped everyone locate the
different areas with ease.
Carefully curated section of small food
businesses offered best culinary experiences in
Lagos and beyond. There were spaces for street
foods offering the best local delicacies, as well
as Farmer’s market where SMEs involved in
agriculture sold fresh and organic farm products.
Attendees enjoyed diverse range of gastro-
nomic delight from restaurants and outdoor grills
well-known for setting taste buds on fire with
exciting mix of eclectic cocktails and pastries.
Happening alongside eating and drinking were
five masterclasses of 60 minutes each delivered
by some of the finest chefs in the world.
Chef Imoteda took the audience on the art
of plating; Chef Lorraine Pascale took them
on making the perfect deserts; Chef Sunny
Anderson lectured on home cooking made
easy; Chef Scott Winston focused on support
and advice for small food businesses; the last
class for the featured first winner of the Great Kids shopping at the makeshift supermarket
British Bake Off and TV presenter, Chef Edd
Kimber, who took his enthusiastic audience arena, putting Muse on hot seat. But as part With such awesome experience, the children a chef in future. I say thank you to GTBank
on making pastries and sweet things. of her job, Muse took time to respond to all shared their overwhelming joy with this reporter. for putting up this event for us.”
On the second day, boisterous school children the posers to her students’ satisfaction. Master Ozezele Okharedia, 11 years old pupil Miss Adaora Nwosu, 11-year-old Primary
from different schools in Lagos appeared in The third day being a public holiday recorded of the Temple Preparatory School, Ilupeju: six pupil enthused: “It was a very fun filled
company of their teachers to take part in the an upsurge in attendance. Foodies and fun-seekers said: “I’m happy, I’m having fun here with experience, I learnt a lot which I didn’t know
culinary classes. On their arrival, they were led who couldn’t make it the first two days due my friends. We’re riding bicycle and I’m the before and I got to taste the chocolate the chef
to the children’s play area were they engaged to work and business schedules showed up. director. I like this place, it’s so nice. I’d like prepared. I’m happy I came here, I’ve learnt
themselves in some recreation activities. This Parents took their kids to the show to have to say thank you to GTBank for giving us this new method of making sandwiches. This is
reporter was actually attracted to the children’s fun to their fullest. The kids were also engaged opportunity to have fun.” my first time of attending this kind of event
play area where high octane actions were taking in a masterclass where Chef Crofie practically Eleven-year-old Master Fola Odejano, from and it will certainly not be my last. I enjoyed
place. The area never experienced a dull mo- taught them how to bake cupcake. They were Readington School said: “I feel happy and glad Chef Muse’s class because she explained how
ment as kids had ample time to have fun and so excited and could not hide their joy. and I think I just learnt how to use the ATM to do a lot of things. She was very informative
taste familiar and new food and drinks. All the to withdraw cash. I’m so eager to learn how and she’s temporal as well. I say a very big
facilities needed for their play were available: to cook because I normally watch my Mummy thank you to GTBank because the event is full
the bouncing castle, the merry-go-round, the cook and I’d like to start preparing food myself. of fun and they planned it very well.”
makeshift hospital and supermarket were all I also want to make some friends here. I say a Miss Chisaa Opara, 12, and JSS1 student
there for them to recreate a new school world. I feel good coming here big thank you to GTBank for organising this of Vivian Fowler Memorial College for Girls,
They were tutored on how to use the ATM
for cash withdrawals, how to bargain and buy
because I’ve always programme and I want God to bless them.”
Miss Chantelle Offor, nine-year-old grade five
said: “It was nice because I’m a girl and I have
to learn how to cook and I was watching the
items in the market, and how to prepare certain wanted to learn the pupil of Jewels and Pearls Private School: shared chef to know how to do some of those things.
foods. This, as explained to this reporter, was
to teach them, the future generations, all the
recipes for cooking and her excitement. “Coming here is so exciting,
especially because I haven’t been here before.
I cook at home and I know how to prepare
rice and stew very well. The way the pancake
good values and qualities they need to learn I’m happier because I So I feel happy. They are going to be teaching was done here was actually different from the
before they grow older. now know how to make us how to cook and I want to learn. I want way I prepare it, and for the sandwich, I’ve
As they were done at the children’s play
area, the pupils and students were taken to the
chocolate cookies. I to learn how to bake cake and how to make
pounded yam and lots more. I say thank you
never prepared it before but now I know how
to prepare it.
masterclass hall where one of Nigeria’s experts enjoyed the teaching by so much to GTBank for this opportunity. It “I’m even more excited that the chef had
in the world of cooking, Chef Muneera Tahir
simply addressed as Chef Muse, took them on
Chef Muse. I would like has been so good.”
For Miss Valencia Erediauwa of the Learning
to pick me to join her in the presentation,
and when I came back my friends were like,
how to make sandwiches, pancakes and how to be a chef in future. Place Schools, Lekki: “I feel good coming here wow! Her teaching was nice because you can
to bake chocolate cookies. Eager to understand I say thank you to because I’ve always wanted to learn the recipes actually understand what she was trying to
every bit of the lessons, the children asked for cooking and I’m happier because I now say and you will like to put it into practice.
and asked and dozens of questions filled the GTBank for putting up know how to make chocolate cookies. I enjoyed Thank you GTBank for allowing us to have
this event for us the teaching by Chef Muse. I would like to be this experience and God bless them.”
T H I S D AY ˾˜͵˜ͰͮͯͶ 21


Five-year-old Master Faizu Gombe of Meldow

Hall Nursery/Pimary School, Lekki: “I feel
happy that I’m here. They’re teaching us
baking; Auntie Crofie has taught us how to
make cupcake, cupcake is sweet. I can make
it now when I get home. I say thank you to
our auntie. I say thank you to GTBank.”
Master Ikechi Esiaba, nine, and primary four
pupil of Child Ville School, Ogudu, said: “I
feel very excited being here. This place is so
amazing and nice and I like it. Thank you
Ten-year-old primary six pupil of Pelgen
Primary School, Shomolu, Miss Ijeoma Ilochi,
said. “I’m so excited, I’ve seen a lot of my
friends here. I’ve learnt how to make cupcake
and it’s not hard, so easy to learn and I’m glad
I’m here to learn it. I came with my parents
and they bought me food and drinks; they
said I should enjoy myself. I want to say a big
thank you to GTBank and God bless them.”
For Miss Abisola Akingbade, eight, and year School kids riding bike at the children's play area
four pupil of Caleb International School who
came with her brother, Tobi said, “I feel happy,
I’m having fun with my friends here. It’s so
nice coming here. I’ve learnt how to make
cupcake. My Mummy brought us here. I say
thank you to GTBank.”
Giving her experience with the children, Chef
Crofie said: “It’s nice teaching children. You
know when you’re with them you find out
that they can do better than what you think
they can’t be able to do. So I’ve found out that
they are so eager to learn and they paid much
attention to instructions. They are lovely children,
so I enjoy being with them. And I encourage
parents to try and give them opportunities to
do some things at home, especially cooking,
to prepare them ahead of time.”
Earlier, a teacher at Readington School, Lekki,
Mrs. Esther Akintimehin, who brought her pupils
to the fair, said they wanted the children to
have more experience and practicalise the things
they were being taught in school. School kids at the play area
“I believe today they’re also going to see
different foods and drinks and I guess they
will learn how to cook some of those foods at
the end of the class. Apart from that, they are
going to meet their peers from other schools,
make friends, gist and have fun. So it’s going
to be a lovely experience for them and for us
as well,’ Akintimehin said.
She added: “Sincerely, I thank GTBank for
organising this programme and making it possible
for our kids to have some unique experience.
They’ve done so well, so I encourage them to
keep it up.”
The Managing Director/Chief Executive
Officer, Guaranteed Trust Bank, Mr. Segun
Agbaje, who was cornered by this reporter,
expressed his gratitude to God for making
the programme to happen.
“I’m really grateful to God because all these
we can’t do without Him. Truly, I feel very
fulfilled, I see lots of people, I’m seeing the
small businesses who are the vendors, who
School children at Chef Muse's masterclass

It’s nice teaching

children.You know
when you’re with them
you find out that they
can do better than what
you think they can’t be
able to do. So I’ve found
out that they are so
eager to learn and they
paid much attention
to instructions. They
are lovely children,
so I enjoy being with
them. And I encourage
parents to try and give
them opportunities to
do some things at home, Kids in the baking class with Chef Crofie

especially cooking, to are the people we do this for, to give them a people have been very engaging, asking very ranged for children, he said: “Children are the
prepare them ahead of platform; I see them sell things, I see people intelligent questions. So truly I’m very fulfilled,” future. Children are the future of any society. So
we’ve got to teach them all the right qualities
time know them, I see great masterclasses where Agbaje said.
Explaining why the masterclasses were ar- and all the right things they need to know.”
T H I S D AY ˾˜͵˜ͰͮͯͶ 23

Group Business Editor Chika Amanze-Nwachuku
08033294157, 08057161321

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A Step in Right Direction

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Inflation rate in the country has the naira depreciated at both the and Housing, Water, Electricity, as possible. Last month, inflation ÚÙÝÓÞÓàÏÎÏàÏÖÙÚ×ÏØÞ˜ÑÓàÏØÞÒÏÐÙÜÏÓÑØÍßÜÜÏØÍã̙̚ÖÓÛßÓÎÓÞãÝÛßÏÏäÏ
been projected to drop further in Nigerian Autonomous Foreign Gas & Other Fuels divisions was 13.43 per cent. ÓÑÏÜÓËÐÜÏÛßÏØÞÖãÏâÚÏÜÓÏØÍÏÝËØÎÞÒÏÝÞÜÙØÑÞÜËÎÏʶÓØàÏÝÞ×ÏØÞÞÓÏÝ
April, thereby inching towards Exchange (NAFEX) and parallel between March and April. “We “We are hoping that in 2018, ÌÏÞáÏÏØÞÒÏÞáÙÍÙßØÞÜÓÏݲ
a single-digit rate. markets. According to the report, estimate that the increase in the we should achieve a very low ÍÍÙÜÎÓØÑÞÙÞÒÏÞÜËÎÏÝÞËÞÓÝÞÓÍÝÌãÞÒÏËÞÓÙØËÖßÜÏËßÙÐÞËÞÓÝÞÓÍÝ̙̚˜
Analysts at FSDH Merchant the value of the naira depreciated CCPI in April would produce an double digit inflation level and ×ÏÜÍÒËØÎÓÝÏÞÜËÎÏÌÏÞáÏÏØÒÓØËËØÎÓÑÏÜÓËÜÏËÍÒÏÎËÜÏÍÙÜÎÒÓÑÒÙÐ
Bank Limited stated this in a by 0.09 per cent and 0.14 per inflation rate of 12.43 per cent if we are lucky, high single-digit. ͰÞÜÓÖÖÓÙØÓØͰͮͯ͵̙Ͷ˛͵ϱÙÐÞÙÞËÖÏÜÍÒËØÎÓÝÏÞÜËÎÏ̚˜ÞÒßÝ×ËÕÓØÑÒÓØË
report. They anticipated that cent to close at US$/N360.17 lower than the 13.34 per cent “And I think with that we ÓÑÏÜÓË˪ÝÞÒÓÜÎÖËÜÑÏÝÞÞÜËÎÓØÑÚËÜÞØÏÜËÐÞÏÜ
inflation rate (year-on-year) and US$/N363 respectively at recorded in March,” it added. should be seen to be moving ̙ËÍÍÙßØÞÓØÑÐÙÜͯͰ˛ͳϱËØÎͯͮ˛ͶϱÙÐ×ÏÜÍÒËØÎÓÝÏÞÜËÎÏÜÏÝÚÏÍÞÓàÏÖã̚˛
would drop to 12.43 per cent the NAFEX and parallel markets Also, the Financial Derivatives in the right direction,” Emefiele ÙáÏàÏܘÞÒÏËÖËØÍÏÙÐÜËÎÏÓÝÒÏËàÓÖãÞÓÖÞÏÎÓØÐËàÙßÜÙÐÒÓØË˞Ó×ÚÙÜÞÝ
in April 2018, from the 13.34 per at the end of April. Company Limited projected infla- had explained. ÐÜÙ×ÒÓØËÓØͰͮͯ͵̙ͯ˛ͶÞÜÓÖÖÓÙØ̚áËÝͶ˛ͯÞÓ×ÏÝÓÑÏÜÓË˪ÝÏâÚÙÜÞ̙ͰͰͮ˛ʹ
cent recorded in the month of “The rise in the international tion rate for April to reduce to The Food Price Index (FPI) ÌÓÖÖÓÙØ̚ËØÎËÍÍÙßØÞÝÐÙÜͰͮ˛ͷÚÏÜÍÏØÞÙÐÞÙÞËÖÓ×ÚÙÜÞÝÓØÞÒÏÖËÝÞÐÓàÏãÏËÜݲ
March. prices of food coupled with the 12.7 per cent, adding that food from the Food and Agriculture ÒÓÝÓÝÍÖÏËÜÖãÝÒÙáÝÓÑÏÜÓË˪ÝÑÜÙáÓØÑÎÏÚÏØÎÏØÍÏÙØÒÓØ˘×ßÍÒ
The National Bureau of marginal depreciation in the value inflation likely to reach point of Organisation (FAO) for April 2018 ÖÓÕÏ ×ÙÝÞ ÙÐ ÞÒÏ ÜÏÝÞ ÙÐ ÞÒÏ áÙÜÖΘ ÐÙÜ ×ËØßÐËÍÞßÜÏÎ ÚÜÙÎßÍÞÝ ËØÎ
Statistics (NBS) is expected to of the naira led to an increase in inflection soon. showed that the Index averaged ÓØÎßÝÞÜÓËÖÓØÚßÞݲ
release inflation rate for April the prices of imported consumer It, however, identified likely 173.5 points, 0.25 per cent higher ˫ÓàÏØÞÒÏÏÝÞËÌÖÓÝÒÏÎÝÞÜËÞÏÑÓÍÓ×ÚÙÜÞËØÍÏÙÐÒÓØËËÝË×ËÔÙÜÞÜËÎÏ
on May 13, based on the data goods in Nigeria between the risks to further drop in inflation than the revised value for March ÚËÜÞØÏܘÞÒÏÌÓÖËÞÏÜËÖÍßÜÜÏØÍãÝáËÚËÑÜÏÏ×ÏØÞáÓÖÖÌÏÌÏØÏÐÓÍÓËÖÞÙÞÒÏ
release calendar on its website. two months under review. to include the passage of 2018 2018, and 2.72 per cent higher ÓÑÏÜÓËØÏÍÙØÙ×ãÓØÝÏàÏÜËÖáËãݲ
The investment bank said “The prices of certain seasonal budget, increased election than the April 2017 figure. ˫ÓÜÝÞ˜ÓÞáÙßÖÎÜÏÎßÍÏÍßÜÜÏØÍãÞÜËØÝËÍÞÓÙØÍÙÝÞÐÙÜÓ×ÚÙÜÞÏÜÝËØÎÏËÝÏ
despite the increase recorded food items we monitored ap- spending and growth in broad According to the FAO, sugar ÐÙÜÏâÖÓÛßÓÎÓÞãÚÜÏÝÝßÜÏÝÓØÚÏÜÓÙÎÝÙÐÐÙÜÏâÜËÞÏàÙÖËÞÓÖÓÞãËØÎ˹ÙÜÝÍËÜÍÓÞã˛
in the prices of some food and preciated in April 2018, leading money supply (M2). prices recorded the highest drop; ˫ÒÏÓ×ÚÖÏ×ÏØÞËÞÓÙØÙÐÞÒÓÝÍßÜÜÏØÍãÝáËÚáÓÖÖËÖÝÙÏØÒËØÍÏÐÓØËØÍÓËÖ
non-food items, the base effect of to 0.86 per cent increase in our Central Bank of Nigeria (CBN) vegetable oil and meat prices ÝÞËÌÓÖÓÞãËØÎÏâÞÏÜØËÖÜÏÝÏÜàÏÝ×ËØËÑÏ×ÏØÞÌãÜÏÎßÍÓØÑÞÒÏàÙÖß×ÏÙÐ
the Composite Consumer Price Food and Non-Alcoholic Index. Governor, Mr. Godwin Emefiele also declined. ÐÙÜÏâÓØÞÏÜàÏØÞÓÙØÝÓØÞÒÏÖÙÍËÖ×ËÜÕÏÞØÏÏÎÏÎÞÙÐßÖÐÓÖÓ×ÚÙÜÞÝÎÏ×ËØβ
Index (CCPI) in April 2017, would “This index increased year- recently said the central bank However, prices of dairy and ˫ ËÝÞÖã˜ÞÒÓÝËÑÜÏÏ×ÏØÞÍÙßÖÎÝÏÜàÏËÝËÜÓÝÕ×ËØËÑÏ×ÏØÞËØÎßØÍÙØàÏØÞÓÙØËÖ
depress the inflation rate. on-year by 14.71per cent, up would continue to work towards ×ÙØÏÞËÜãÚÙÖÓÍãÞÙÙÖËÝÚÜÙÌËÌÖÏÖÙÝÝÏÝÜÏÝßÖÞÓØÑÐÜÙ×ÞÜËØÝËÍÞÓÙØÝ
It indicated that the value of from 234.39 points recorded in a single-digit inflation rate. Continued on page 24 ËÐÐÏÍÞÏÎÌãàÙÖËÞÓÖÓÞãÓØÞÒÏÖÙÍËÖÍßÜÜÏØÍãÍÙßÖÎÌÏÒÏÎÑÏÎËØÎ×ÓØÓ×ÓÝÏΘˬ
Still Sell Petrol Above Official Ex-depot Price ˫ãÞÒÏÞÓ×ÏãÙßÝÞßÎãÞÒÏØÓÞÞã̋ÑÜÓÞÞãÙÐÞÒÏÎÏËÖ˜ãÙßáÓÖÖÜÏËÖÓÝÏÞÒËÞ
Ejiofor Alike provided with special offers to of N123.28 – N133.28 recom- àÏÜËÖÖ˜ÞÒÏËÑÜÏÏ×ÏØÞÓÝÏâÚÏÍÞÏÎÞÙÏØËÌÖÏÞÒÏÍÙßØÞÜã×ËØËÑÏÞÒÓÜÎ
ENERGY ensure that they sell at the same mended by the PPPRA via the ÍßÜÜÏØÍÓÏÝÚÜÏÝÝßÜÏËØÎÖÓÛßÓÎÓÞã˛
Despite the flooding of the N145 per litre in their branded circular with reference number
Nigerian market with petrol by the depot owners were yet to filling stations. A.4/9/017/C.2/IV/690 of May
the Nigerian National Petroleum revert to the N123.28 – N133.28 Apart from the major market- 11, 2016.
Corporation (NNPC), which has indicative ex-depot price set by ers, petrol was also available in One of the marketers, who
led to the sale of the product at the pricing agency. about 12 other depots – AA Rano, spoke to THISDAY off the record,
official pump price, some depot It was gathered that apart from Chi-Pet, First Royal, Folawiyo, blamed the situation on NNPC’s
owners are still selling above the the major oil marketers, about 12 Heyden Petroleum, Integrated role as the sole importer of petrol.
official ex-depot price, THISDAY’s other depots had stock of petrol Oil and Gas, MRS, Obat, African “Marketers are finding it
investigation has revealed. at the weekend. Tanker, T-Time Pet, and Wosbas. difficult with NNPC as the sole
THISDAY gathered at the The major marketers include: THISDAY’s investigation importer, because NNPC buys at
weekend that while filling Oando Plc, Total Nigeria Plc, revealed that ex-depot price a higher cost at the international
stations were selling at pump Mobil, Forte Oil, Conoil, and was different in many of these market than the private marketers.
price of N140 –N145 per litre, MRS. 12 depots, where products If the private marketers are given
which comply with the retail price The major oil marketing could be accessed from third the same incentives to import like
band of N135 – N145 set by the companies traditionally sell at party at ex-depot prices of NNPC, they will buy at cheaper
Petroleum Products Pricing Regu- N145 per litre at the depots but N133.50 – N136.50, compared
latory Agency (PPPRA), most of to only their dealers, who are also to the indicative ex-depot price Continued on page 24 Emefiele
24 T H I S D AY ˾˜͵˜ͰͮͯͶ



NCC Shuts Down Firms over


cereal continued to trend upward.

The FAO Dairy Price Index was
up by 3.4 per cent between
March and April. Increased
demand for all milk products,
coupled with reduced exports
5.4GHz Deployment
supply, led to the increase in Emma Okonji providing the alleged illegal removed and held in custody licensed by the Nigerian ten times the fee for the rel-
the Index. services. The enforcement of the Commission. The team Communications Commission. evant license; imprisonment
The FAO Cereal Price Index The Nigerian Communica- team directed them to obtain had to order for the arrest This position is supported for a term not exceeding one
also appreciated by 1.7 per cent tions Commission (NCC), the the requisite license before of officials of the bank for by the provision of Section year; or both such fine and
from the previous month, on telecoms industry regulator their premises would be their resistance. 121 and 122 of the Nigerian imprisonment, Idehen added.,
the heels of improved prices of has extended its ongoing unsealed. According to Idehen, “It is Communications Act, 2003.” He said the suspects have
wheat, coarse grains and rice. enforcement plan to Uyo Consequent upon the pertinent to state that it’s a The punishment for the been handed over to the
On the flip side, the favour- in Akwa Ibom State, and enforcement action, the criminal offense to provide said violation is a fine for relevant security agency for
able supply glut in the market, Calabar in Cross River State, radio equipment used in the service in frequency band the initial fee for the relevant discreet investigation and
and a weaker Brazilian currency where it sealed up operations provision of the service was not validly assigned or license; a fine not exceeding possible prosecution.
(Real) continued to weigh on the of most telecoms firms for
prices of sugar. Hence, the FAO violating the guidelines for
Sugar Price Index fell by 4.8 per the deployment of 5.4GHz
cent in April to a 31-month low. frequency band in the states.
The FAO Vegetable Oil Price The enforcement team led
Index was down by 1.43 per by the Director, Compliance
cent, driven by a fall in prices Monitoring and Enforcement,
of palm and soy oil, the key Mr. Efosa Idehen, took the
commodities in the Index. NCC compliance monitoring
The FAO Meat Index was to the states on April 26 and
down by 0.94 per cent driven 27, 2018 to enforce compliance
by the decrease in the prices for with its guidelines for the
bovine and pig meat. deployment of service in the
5.4GHz frequency band.
The Commission, based
DESPITE NNPC’S MASSIVE on the guidelines for the
IMPORTATION, MARKETERS deployment of service in
STILL SELL PETROL ABOVE the 5.4GHz frequency band,
had issued a public notice
cost and the ex-depot price will dated April 3, 2018, warning
come down,” he said. unlicensed operators and the
However, despite these general public to vacate illegal
price differentials, investigation transmission in the 5.4GHz
revealed that some independent frequency band within 14
marketers even sell below N145 days.
per litre, while the major market- The deadline for vacation
ers stick to N145. ended on April 17, 2018, fol-
The NNPC had flooded the lowing which the enforcement
whole country with petrol, team visited the states and
forcing the marketers to devise shut down the operations of
various kinds of incentives to Hot Minet Services located
woo customers and prevent glut on 80 MCC Road, Calabar
in the market. and United Bank for Africa
Some of companies are (UBA) on Udo Udoma Bank-
providing special offers to their ing layout, Uyo, for failing
dealers to boost turnover and to comply with the guideline
avoid glut. and the public notice issued
THISDAY had reported by the Commission. UNVEILING OF HAJJ SAVINGS SCHEME
that exactly six months after The team also confiscated L-R: Chairman, Tafsan Investment Limited, Alhaji Adebiyi Bamgbose; President, NASFAT, Alhaji Yomi Bolarinwa; Divisional Head,
the NNPC assumed the sole the non-type approved equip- Commercial Banking, Sterling Bank Plc, Tunde Adeola and Chairman, Tafsan Tours and Travels Limited, Alhaji Sheriff Yusuff, during the
importer of petrol in October ment used by the operators in Sterling Bank’s formal launch of Hajj Savings Scheme in Lagos…recently
2017, the corporation had finally
normalised the supply of the
product. The corporation’s
inability to bridge the supply Nigeria, SA Top African Airlines’ Passenger Traffic Record
gap created by the refusal of
the private marketers to import Chinedu Eze are seeing healthy growth on sured in revenue passenger except for the Middle East CEO, Alexandre de Juniac.
petrol, had led to fuel crisis, routes to/from Europe and Asia, kilometers, or RPKs) rose 9.5 posted record load factors. March international pas-
which marred the Christmas African airlines recorded while the region’s two largest per cent, compared to the “Demand for air travel senger demand rose 10.6 per
celebration and lingered into 11.2 per cent in March 2018, economies, Nigeria and South same month a year ago, the remains strong, supported cent compared to March 2017,
the first quarter of 2018. indicating the regional carriers Africa continue to improve. fastest pace in 12 months. The by the comparatively healthy which was up from 7.4 per cent
currently enjoy very strong According to IATA, capac- world body noted that capac- economic backdrop and busi- year-over-year growth recorded
demand compared to the same ity climbed 6.7 per cent, and ity (available seat kilometers, ness confidence levels. But in February.
period last year. load factor strengthened 2.9 or ASKs) grew 6.4 per cent rising cost inputs—particularly IATA said all regions showed
The International Air trans- percentage points to 71.0 per and load factor climbed 2.3 fuel prices—suggest that any strong increases and total
port Association (IATA) said this cent. percentage points to 82.4 per demand boosts from lower capacity climbed 6.6 per cent,
is more than twice the five-year IATA said global passenger cent, which set a record for the fares will moderate going and load factor improved 2.9
average pace of 4.8 per cent, traffic results for March 2018 month, following on the record into the second quarter,” said percentage points to 81.5 per
noting that airlines in Africa showed that demand (mea- set in February. All regions IATA’s Director General and cent.

Group Business Editor

FAAN Adopts Digital Payment System at All Airports
Chika Amanze-Nwachuku
Chinedu Eze commence across the airports tion, noting that car parks, decision to adopt digital pay- which has commenced at the
AgriBusiness/Industry Editor soon. cargo section, chartered / ment was as a result of the international airports was
Jonathan Eze The Federal Airports Authority According to Yakubu, the unscheduled flights among success of the Executive Order part of the Ease of Doing
Comms/e-Business Editor of Nigeria (FAAN) has said cashless transactions would others would be affected by of the Federal Government Business, remarking that the
Emma Okonji
it would commence cashless reduce the cumbersome cash the introduction. in a bid to create enabling digital payment was another
Capital Market Editor business environment in the feat to be achieved.
Goddy Egene transactions across airports movement as transactions “It will help FAAN to
in the country in order to would be made in different eliminate leakages and further country, especially within the She observed that at the
Senior Correspondent
Raheem Akingbolu (Advertising) foster ease of payment, create ways such as POS, money increase revenue base of the airports as entry points into end, it would be a win - win
Correspondents payment options and improve transfers, adding that Remita organisation. No government the country. situation for both FAAN and
Chinedu Eze (Aviation) the speed and convenience agents have also been posi- official will handle cash dur- The new payment system, customers adding that the
Linda Eroke (Labour) of payment tioned strategically at various ing transactions when the she stressed, was to ensure agency has been repositioned
Eromosele Abiodun (Maritime) The General Manager points across the airports. exercise takes off. We are that those doing business to provide improved services
Ejiofor Alike (Energy)
James Emejo (Nation’s Capital) Corporate Communications, She explained that the soliciting the cooperation at the airports were not for customers.
Obinna Chima (Money Mkt) Mrs. Henrietta Yakubu, in an initiative was designed of all airport users, conces- harassed but are provided The agency is sensitising
Chineme Okafor (Energy) interview in Lagos, said all under the Presidential En- sionaires and the general with accurate information on the public about the new
Reporters necessary arrangements have abling Environment Business public to ensure a hitch free what and where to pay at payment system through
Nume Ekeghe (Money Market) been made for the smooth Council (PEBEC) to ensure exercise,” Yakubu said. every point in time. jingles in the broadcast and
Nosa Alekhuogie (AgriBusiness) take off of the exercise bid to convenience and curb corrup- She further added that the Yakubu said visa on arrival other media.
T H I S D AY ˾˜͵˜ͰͮͯͶ 25


Nigerian Bourse Pares Gains on Profit Taking

Goddy Egene NSE Banking Index appreciated by
0.8 per cent, while the NSE Insurance
Profit taking in bellwether stocks Index rose by 0.2 per cent.
prevented the Nigerian equities market On the contrary, the NSE Consumer
from sustaining the gains recorded the Goods Index fell 1.5 per cent due to
previous week as the Nigerian Stock selloffs in International Breweries Plc,
Exchange (NSE) All-Share Index fell Nigerian Breweries Plc and Unilever
marginal by 0.06 per cent to close at Nigeria Plc. The NSE Oil & Gas Index
41.218.72. Also, market capitalisation trailed, shedding 0.8 per cent, just as
shed N9.5 billion to close the week the NSE Industrial Goods Index shed
lower at N14.931 trillion. The market 0.2 per cent.
had appreciated by 1.05 per cent the The recovered on Friday with the
previous week due to bargain hunting benchmark index rising 0.27 per cent
activities and investors’ reactions to close at 41, 218.72 per cent, while
improved to first quarter results by market capitalisation ended higher at
some companies. N14.93 trillion.
The market could not record However, the gain on Friday was
another positive close last week as not enough to save the market from
the benchmark indicator sagged closing the week with a decline. In
under the pressure of profit taking. all, the market shed 0.06 per cent in
However, the NSE Premium, NSE the review week.
Banking, NSE Industrial goods, and
NSE Pension indices appreciated by Market Turnover
0.12 per cent, 1.56%, 1.06 per cent and In the four-day trading sessions
0.21 per cent respectively. investors traded 1.331billion shares
Analysts at Meristem Securities worth N20.835 billion in 18,695 deals
Limited said in spite of gains recorded compared with 1.825 billion shares val-
in the banking and industrial goods ued at N24.653 billion that exchanged
space, the market closed downbeat. in 23,148 deals.
“The market’s performance was The Financial Services Industry led
majorly dragged by selloffs across the activity chart with 1.042 billion
counters in the oil & gas, consumer shares valued at N11.275 billion traded
goods and insurance sectors,” they said. in 9,665 deals, thus contributing 78.32
In their own opinion, analysts at per cent and 54.11 per cent to the total
Cordros Capital Limited said: We equity turnover volume and value
look for return of gains on the bourse respectively. The Consumer Goods
in the medium to long term, amidst Industry followed with 84.124 million
fast-declining yields in the alternative shares worth N4.322 billion in 3,691
fixed income market. More so, as deals. The third place was occupied by
macroeconomic fundamentals continue Oil and Gas Industry with a turnover
to impress.” of 51.918 million shares worth N596.463
million in 2,307 deals.
Daily Performance Trading in the top three equities,
The market consolidated on the UBA, Mutual Benefits Assurance Plc
positive performance of the previous and Access Bank Plc accounted for
week on when trading resumed on 457.930 million shares worth N3.784
Monday. The benchmark index rose billion in 1,469 deals and contributing
by 0.06 per cent to close at 41,268.01, 34.41 per cent and 18.16 per cent to
while market capitalisation ended higher the total equity turnover volume and
at N14.95 trillion. The appreciation value respectively.
recorded in the share prices of FBN Also traded during the week were
Holdings, Dangote Cement, Fidelity a total of 709,058 units of Exchange
Bank, Zenith Bank, and GTBank Plc Traded Products (ETPs) valued at
propelled the growth. N3.845 million executed in 10 deals,
Similarly, activity level trended higher compared with a total of 56,260
as volume and value traded improved units valued at N376,387.48 that
41.1 per cent and 77.4 per cent to was transacted the previous week
450.5 million shares and N5.0 billion in six deals.
respectively. The three most actively Similarly, a total of 80,152 units
traded stocks were Mutual Benefit of Federal Government and State
(130.96 million share), UBA (67.75 Bonds valued at N82.543 million
million shares) and FBN Holdings were traded last week in 14 deals,
(53.61 million shares). were Dangote Cement (N2.1 billion), index lower by 1.1 per cent. The NSE volume traded rose 16 per cent to 320.4 compared with a total of 725 units
In terms of sectoral performance, GTBank (N1.9 billion) and Zenith Bank Insurance Index shed 0.59 per cent. million shares while value traded fell valued at N660,984.55 transacted the
two of the five tracked indicators, (N832.4 million). The bears returned to the market on by 30.9 per cent to N4.8 billion. Top previous week in 10 deals.
however, appreciated. The NSE Unlike the previous day, three of Thursday reversing the gains posted in traded stocks in volume terms were:
Industrial Goods Index recorded the five went up led by the NSE Oil & the previous trading sessions. Specifically, UBA (79.9 million shares), Access Bank Price Gainers and Losers
highest gain, rising by 0.6 per cent Gas Index with 1.2 per cent. The NSE the index fell by 0.48 per cent to close at (57.0 million shares) and E-Tranzact Meanwhile, 37 equities appreciated
following appreciation recorded by Banking Index trailed with a gain of 0.6 41,107.81. Profit taking in International (20.3 million shares) while the top in price during the week, higher than
in Dangote Cement and CCNN. The per cent, just as the NSE Industrial Breweries, Dangote Cement, Nigerian traded in value were UBA (N935. 2 33 in the previous week, while equities
NSE Banking Index trailed rising 0.4 Goods Index chalked up 0.3 per cent. Breweries, Unilever, and Dangote Sugar million), Access Bank (N644.4 million) depreciated in price, lower than 41
per cent due to buying interests in Conversely, the NSE Consumer Goods was mainly responsible for the decline and Zenith Bank(N488.3 million). equities in the previous week.
GTBank and FBN Holdings. On the Index led laggards as losses in Nestle of the day. Despite the bearish trading, two of C & I Leasing led the price gainers
negative side, the NSE Consumers and Nigerian Breweries dragged the However, activity level was mixed as the sectoral indicators bullish. The with 29.5 per cent, trailed by Unity
Goods Index led with a fall of 0.8 per p y Bank Plc with 20 per cent. Veritas
cent following losses posted by Nestle, Rank Broker Description Quantity % of Volume Kapital Assurance Plc chalked up 17.8
Dangote Sugar Refinery and Dangote 1 SISB STANBIC IBTC STOCKBROKERS LIMITED 318,513,982 11.96 per cent, just as Cement Company of
Flour Mills. The NSE Insurance Index Northern Nigeria Plc and Beta Glass
and NSE Oil & Gas Index shed 0.2 Plc garnered 14.6 per cent and 10.2 per
per cent and 0.1 per cent in that order. 5 GTI GTI SECURITIES LIMITED - BRD 115,466,820 4.34
cent respectively.
The market sustained the positive 6 READ READINGS INVESTMENTS LIMITED - BDR 113,870,839 4.28 Other top price gainers included:
performance on Wednesday, growing 7 MERI MERISTEM STOCKBROKERS LIMITED 98,407,927 3.70 Livestock Feeds Plc (9.0 per cent); NPF
marginally by 0.09 per cent to close 8 MCSE MORGAN CAPITAL SECURITIES LIMITED 97,287,523 3.65 Microfinance Bank Plc (8.5 per cent);
at 41,306.02, driven by gains in the 9 RSNL RENCAP SECURITIES (NIG) LIMITED 90,575,241 3.40 Mutual Benefits Assurance Plc (8.3 per
share prices of Union Bank, Dangote 10 CSSL CARDINALSTONE SECURITIES LIMITED 89,400,351 3.36 cent); Union Bank of Nigeria Plc (7.2
Cement, Access Bank, Zenith Bank and Top 10 Total Volume 1,611,705,490 60.52 per cent0 and Vitafoam Nigeria Plc (6.4
UBA. The market capitalisation also NOTE: The top 10 Stockbrokers are responsible for 60.52% of the total volume between 30/04/2018 and 04/05/2018 per cent).
appreciated same margin to close at Conversely, Dangote Flour Mills Plc
N14.96 trillion. Ex-Dangote Cement Top 10 Brokers by Value led the price losers with 18.5 per cent,
the market would have closed 0.85 Rank Broker Description Value % Value trailed by Eterna Plc with 13.0 per cent.
per cent lower. 1 CSL CSL STOCKBROKERS LIMITED 8,099,924,979.76 19.36 Prestige Assurance Plc shed 11.7 per
But activity level was mixed as 2 FBNS FBNQUEST SECURITIES LIMITED 5,606,432,423.40 13.40 cent, while Dangote Sugar Refinery Plc
volume traded declined by 38.7 per 3 SISB STANBIC IBTC STOCKBROKERS LIMITED 5,249,098,583.23 12.54 went down by 11.2 per cent.
cent to 276.2 million shares while value 4 RSNL RENCAP SECURITIES (NIG) LIMITED 3,775,628,719.92 9.02 Other top price losers included:
traded trended up 38.9 per cent to N6.9 5 EFCP EFCP LIMITED 2,739,336,216.65 6.55
Regency Alliance Insurance Plc (10
billion. Wednesday’s top traded stocks per cent); Oando Plc 8.7 per cent);
7 GTI GTI SECURITIES LIMITED - BRD 1,257,098,251.51 3.00
by volume were UBA (52.3 million 8 CSSL CARDINALSTONE SECURITIES LIMITED 1,049,422,824.03 2.51
Chams Plc (8.7 per cent); Japaul Oil
shares), GTBank (42.3 million shares) 9 NISL NIGERIAN INTERNATIONAL SECURITIES LTD 1,027,333,676.96 2.46
& Maritime Services Plc (8.0 per cent);
and Zenith Bank (30.1 million shares) 10 ARMS A.R.M SECURITIES LIMITED - BRD 987,402,283.26 2.36 WAPIC Insurance Plc (7.0 per cent);
while most active stocks by value Top 10 Total Value 32,286,749,159.97 77.16 Niger Insurance Plc (6.6 per cent).
26 T H I S D AY ˾˜͵˜ͰͮͯͶ


A view of Lagos financial district AKINWUNMI IBRAHIM

Boost for Nigeria, China Trade

Obinna Chima and Commercial Bank China (ICBC).However, precautionary USD FX reserves.
MARKET INDICATOR FBN and Zenith Bank were also appointed “Given the rebound in oil earnings, Nigeria’s
Since the inclusion of the Chinese currency because they already have representative reserves are at an increasingly comfortable
among basket of reserve currencies that offices in China. level. With the swap arrangement in place,
have special drawing rights (SDR), by the broader economic cooperation between the So, while SCB and Stanbic can start im- it will however be possible for the CBN to
International Monetary Fund (IMF), the two countries. mediately, it would take FBN and Zenith Bank draw on this in order to provide the CNY
government of China has continued to see “With the operationalisation of this agree- some time to join the settlement arrangement liquidity needed to support Nigerian import
it as a reflection of the importance of its ment, it will be easier for most Nigerian because they would have to convert their demand from China, without having to convert
currency in the world’s trading and financial manufacturers, especially small and medium representative offices to operational offices. that to US dollar demand first.
systems. enterprises (SMEs) and cottage industries The settlement banks are expected to handle “So, in all, this should support expectations
The country’s expanding role in global trade in manufacturing and export businesses to the trade obligations that would enable an of forex stability in Nigeria, even as importer
and the substantial increase in the international import raw materials, spare parts and simple importer in Nigeria, after filling the required demand recovers. It is a small positive, which
use and trading of the Renminbi (RMB) has machinery to undertake their businesses by documentation, to easily exchange the naira is reinforced by the greater positive of rising
seen it increasingly enter into currency swap taking advantage of available RMB liquidity for the Renminbi (RMB) instead of resorting to forexreserves because of the rebound in oil
agreements with a lot of countries. from Nigerian banks without being exposed third currencies such as the U.S. dollar, while prices and exports,” Khan said.
Some of the countries include the United to the difficulties of seeking other scarce the reverse will be the case for importers in Also, the Director General of the Lagos
Kingdom, Belarus, Malaysia, South Africa, foreign currencies. China that trade with Nigerian businesses. Chamber of Commerce and Industry (LCCI),
Australia, Armenia, Surinam, Hong Kong, “The deal, which is purely an exchange Commenting on the bi-lateral agreement, Mr. Muda Yusuf, said the deal would positively
Pakistan, Thailand, Kazakhstan, South Korea, of currencies, will also make it easier for Research Analyst at FXTM, Lukman Otunuga, impact trade and investments between Nigeria
Canada, Qatar, Russia, the European Union, Chinese manufacturers seeking to buy raw pointed out that sentiment towards the Nigerian and China.
Sri Lanka, Mongolia, New Zealand, Argentina, materials from Nigeria to obtain enough economy was elevated after the nation finally “It will impact on trade positively between
Switzerland, Iceland, Albania, Hungary, naira from banks in China to pay for their signed the agreement with China. Nigeria and China, because it would make
Brazil, Singapore, Turkey, Ukraine, Indonesia, imports from Nigeria. According to him, the move will not only the payment system easier. However, it can
Uzbekistan, and the United Arab Emirates, “Indeed, the deal will protect Nigerian improve the speed, but also the convenience only last if the exchange rate remains stable.
with the deal totalling over RMB3.137 trillion. business people from the harsh effects of of transactions between both nations. This is because if there are issues with the
And last week, it finalised its currency swap third currency fluctuations. “There is a possibility that the naira will exchange rate, it may affect it,” he added.
agreement with Nigeria, valued at $2.5 billion. “With this, Nigeria becomes the third African strengthen from the currency swap deal, as CBN Governor, Mr. Godwin Emefiele had
Central Bank of Nigeria’s (CBN) spokesman, country to have such an agreement in place the demand for dollar drops,” he said. explained that Nigeria was not the only
Mr. Isaac Okorafor, who announced this, said with the PBoC,” it explained. To analysts at Cowry Assets Management country that had agreed to a currency swap
the CBN Governor, Mr. Godwin Emefiele, THISDAY exclusively reported that First Bank Limited, the currency swap deal wouldfacilitate with China, as several other countries –
led CBN officials while PBoC Governor, of Nigeria Limited, Stanbic IBTC, Standard trade between the two countries, by provid- developed and emerging markets – with
Dr. Yi Gang, led the Chinese team at the Chartered Bank (SCB) and Zenith Bank Plc ing adequate local currency liquidity to growing trade volumes with China had
official signing ceremony. He said the deal had been appointed the settlement banks Nigerian and Chinese industrialists and entered into similar currency swaps with
was sealed the preceding Friday after over for the bilateral currency swap agreement. other businesses, thereby sidestepping the Asian country.
two years of painstaking negotiations by With their appointment, the four banks a third currency -the US dollar. “The agreement on the currency swap
both central banks. will be responsible for settling the trade “We expect the arrangement to ease with China will definitely benefit Nigeria
According to the CBN, the transaction, transactions between importers and exporters pressure on the limited dollar supply because the essence of the mandate is to
which was valued at 16 billion RMB, was from both countries, likely to take off just at the Investors’ & Exporters’ forex ensure that Nigeria is designated as the
aimed at providing adequate local currency before next month. window (I&E)and hence, enhance stability trading hub with China in the West African
liquidity to Nigerian and Chinese industrialists The reason the four financial institutions of thenaira/dollar exchange rate,” the sub-region for people who want the Renminbi
and other businesses, thereby reducing the were chosen was because StanChart and firm added. as a currency denomination.
difficulties encountered in the search for Stanbic already have operational offices in But the Head, Global Research, “Also for us, we believe that using the
third currencies. China, while Zenith and FirstBank have Standard Chartered Bank, Razia Khan, renminbi will improve trade with China,
The CBN said among other benefits, the representative offices in Beijing. said she does not expect the bilateral as this will encourage importers to open
agreement is expected to provide naira liquid- However, whereas StanChart and Stanbic agreement to have any immediate impact L/Cs in the Chinese currency for the
ity to Chinese businesses and provide RMB can start operations immediately as settlement on Nigeria’s forex reserves. importation of raw materials, equipment
liquidity to Nigerian businesses respectively, banks, Zenith and FirstBank will be required “Even if the swap were to be drawn on and machinery from China, rather than
thereby improving the speed, convenience to upgrade their representative offices to full in the future, it would likely show up as other trading regions, so the agreement will
and volume of transactions between the two operations in China. a liability on the CBN’s balance sheet. encourage trade between both countries,”
countries. While SCB already has a presence in China However, the swap is still significant he had explained.
“It will also assist both countries in their through its Standard Chartered Bank (China) in that it provides greater international This arrangement is also expected tocontrib-
foreign exchange reserves management, Limited, Stanbic has been trading in the liquidity to the CBN, reducing the need for ute towards stabilising the country’s balance
enhance financial stability and promote country through its affiliate, the Investment the CBN to hold an especially high level of of payments (BoP) position.
T H I S D AY ˾˜͵˜ͰͮͯͶ 27


Dell: Digital Transformation, Key to Business Growth

Chairman and CEO, Dell Technologies, Michael Dell, spoke with journalists in Las
Vegas on how the technology company is driving digital transformation in work
places, as well as providing data protection and security through innovative tech
solutions in the digital era. Emma Okonji who was there presents the excerpts:
What are the benefits of digital transforma- unifiable. Vmware for instance, can accelerate
tion to organisations and what role will business innovation by forming a consistent
technology convergence play in the whole digital foundation, so that any device can ac-
process of digital transformation that is cess any application from anywhere. We also
currently sweeping across globe? have the Dell EMC workforce transformation
Digital transformation is about the use of and how to keep data of organisations safe.
technology to change the way businesses operate At Dell Technologies, we engineer security in
and making businesses much more efficient and every of our product and solution. On top of
profitable. It transforms economics of scale to that we we lead the market in security and
drive smart cities, while taking real time decision. digital transformation. In 2014 we envisioned the
Technologies are converging to offer better solu- combination of Dell EMC and Vmware to provide
tions for business agility. Artificial Intelligence robust server and storage and virtualisation and
(AI), Machine Learning (ML) and Internet of in 2016, the combination helped customers in
Things (IoT) are going to drive convergence in the area of data security and it has enhanced
the technology space. What this development the tremendous growth of Dell Technologies
means to us at Dell is that the globe needs to by several billion dollars and we are growing
generate more data to catchup with the rapid faster than we planned.
technology growth that convergence is bringing.
Organisations must also invest in AI, IoT and How will 5G technology help in driving
ML to benefit from the digital transformation. digital transformation within organisations?
5G technology is about speed in accelerating
How will Dell Technologies help emerging business transformation and digital transformation
markets in African countries catch up with comes with the fastest delivery of products and
digital transformation, considering the low services to enhance business performance and
level of technology infrastructure in the returns on investment. So 5G is an accelerator
African region? that will further drive cloud solutions to boost
African countries need to embrace the global digital transformation.
technology transformation and invest in technolo-
gies such as AI, IoT and ML to catch up with How will the combination of Dell EMC
the speed of technology development. They drive digital transformation, using Internet
also need to invest in infrastructure, especially of Things and Artificial Intelligence?
broadband infrastructure. What I think every Internet of Things (IoTs) and Artificial Intel-
country should do, is to use local technology ligence (AI) are the next generation of technology
partners to develop local technologies that will solutions that are driving digital transformation
address organisational and societal challenges, and organisations need a lot of data to effectively
while they still invest in modern technologies. use IoTs and AI to drive their business. They
What Dell Technologies could also do is to develop need to generate data, aggregate the data to
the local markets and offer them opportunities take fast and instant decision that will turn
to grow their businesses and economies, using around the organisation in a more efficient way.
technology solution. Dell
How will you assess the growth of Dell
How will Dell Technologies help telecoms A recent research survey conducted by Dell transformation, 51 per cent is still struggling Technologies as a technology company?
companies to deliver innovative and quality shows that 42 per cent of the global population to keep up with the digital technology space, I started Dell Technologies about 34 years ago
services to their customers, especially in does not know whether they can cope with digital while 93 per cent is faced with the barriers of and the company has witnessed tremendous
Nigeria where subscribers are faced with digital transformation. But in all of these, digital growth since inception. Today the company worth
poor service quality? transformation must drive Information Technology billions of dollars and we are still growing and
Dell Technology is a technology solutions (IT) transformation, workplace transformation acquiring new companies as the need arises.
company, developing solutions that will drive African countries and security transformation. Organisation must
business efficiency across various sectors of the
economy, including the telecommunications
need to embrace the therefore summon up the courage to continue
to invest in technology to drive their business
At the Dell Technology World 2018, new
solutions were announced. What are these
sector. So we have invested in private and global technology because the gains are enormous. solutions about and how will they enhance
public cloud and we have solutions that will
enhance telecoms business in Nigeria and the
transformation and What is your view about technology
organisational growth in the African emerging
rest of the world. invest in technologies regulation across globe? Dell Technologies launched several new
such as AI, IoT and ML breakthrough at the Dell Technology World
Regulation is important provided it does 2018. One of them is the Dell EMC storage
What is your advice for the African market,
with regards to digital transformation?
to catch up with the not stifle technology growth. Technology has and server products backed by a comprehensive
Developed economies of the world are deploy- speed of technology brought a lot of disruptions in recent times, services portfolio. This solution raises the bar
ing technology to enhance businesses and promote
economic development. African nations must do
development. They yet some people are still afraid about the social
impact of technology. What country regulators
to power up the modern data centre and these
new products are designed to address a wide
same and embrace digital transformation. Every also need to invest must know about technology regulation is range of traditional and emerging data centre
African nation must see it as a necessity to grow in infrastructure, that technology advancement could be used workloads to help customers drive better business
its economy through the digital transformation to propagate good and evil, depending on the outcomes.
that is currently sweeping across the world.
especially broadband mindset of the people at the centre stage, and We also unveiled the new Dell Wyse 5070 thin
Digital transformation has enhanced businesses, infrastructure. What we will not stop innovating just because some client, the company’s most versatile and scalable
and every business is looking for ways to deploy
the best of technology solutions in every aspect
I think every country people use technology for harmful and selfish
gains. The truth is that technology is the game
thin client platform that enables organisations
to select just the right configuration based on
of their operations to drive growth, new business should do, is to use changer and has brought about a lot of business employees’ needs. In addition, Dell Technolo-
partners, relationships as well as products and local technology growth and agility and we will continue to
innovate. When fire was invented in the early
gies is expanding Dell EMC’s VDI Complete
Solutions, powered by VMware Horizon, to
services. Technology is now top on the agenda for
businesses globally because technology strategy partners to develop local years, some people felt it was a destructive include support for 14th generation PowerEdge
is about business strategy, and every business technologies that will technology but many saw it as a solution for server infrastructure and virtualised graphics
must embrace it. We will continue to innovate
each day to enhance customer’s business. Today’s
address organisational industrial and domestic use, and today fire is
used in homes in different ways. When the
options for high-performance workloads. Both
solutions lower the barrier to VDI adoption,
success story is different from the success stories and societal challenges, internet was first developed, many countries making it easier than ever for organisations to
of the past because technology has become the
game changer. We need to use data, Artificial
while they still invest in condemned it, saying it is evil but today the
internet has revolutionise the entire globe, it has
plan, deploy, and run desktop and application
virtualisation within their IT environments.
Intelligence (AI), Machine Learning (ML) and modern technologies. created lots of jobs and businesses and many Again VMware outlined its vision for the
Internet of Things (IoT) in a way that will drive What Dell Technologies are benefitting from it. What matters is about future of networking, and unveiled the Virtual
Cloud Network, which enables organisations to
speed of business. Technology transformation
is the way to go and data is the fuel that will
could also do is to using technology in a responsible way.
create a digital business fabric for connecting and
drive global technology transformation. Dell will develop the local In promoting digital transformation, securing applications, data, and users across the
continue to support innovations that will drive
IoT, AI, and ML, through our public and private
markets and offer what is Dell Technologies doing about
data protection and security?
entire network in a hyper- distributed world.
To deliver on this vision, VMware announced
cloud solutions that we offer for business growth. them opportunities to One of the biggest accelerator in digital the VMware NSX networking and security
grow their businesses transformation is the ability to protect and portfolio to enable consistent, pervasive con-
How will you address the fears of most secure the growing amount of critical data. nectivity and security for apps and data across
organisations who are still skeptical about
and economies, using Security transformation therefore must come software- defined data centre, branch, cloud,
investing so much in technology business? technology solution with solutions that are resilient, adaptable and and telco environments.
28 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 29
30 T H I S D AY ˾˜͵˜ͰͮͯͶ


LCCI Names Rack Centre Winner of Local

Content in ICT
The Lagos Chamber of Com- is to recognise, celebrate and Dr. Vincent Nwani, said: “Rack Commerce and Industry large’ ’adding that corporate fering brings a comprehensive
merce and Industry (LCCI) promote private and public Centre has made sustained Awards; we recorgnise and governance’ ’was also a major range of cloud services to our
has announced Rack Centre, institutions that have exhibited and dedicated commitment celebrate the company for its consideration in the evaluation doorstep, providing access
Africa’s Premium Tier III the core values of best business to the Nigerian’s economy by value addition to the Nigerian of nominees for the award.” to a comprehensive range
certified Data Centre as the practises, business sustainability its huge investment in data Economy.” Managing Director of Rack of computing and network
winner of its local content in and have positively impacted centre and network connectivity The LCCI, which has grown Centre, Mr. Ayotunde Coker interconnect services locally.”
Information and communication the society.’’ thereby saving the Nigerian’s from a membership strength said: “We are delighted and Rack Centre is the state-of-
Technology (ICT). The Chamber said the award economy millions of foreign of 14 in 1888, to 1, 500 as at honoured to win this award the-art, Tier III Constructed
The recognition announce- to Rack Centre and other exchange on an annual basis, today, prides itself as a credible from the LCCI, a great busi- Facility Certified data centre
ment was made at this year’s winners was “an outcome of and providing the much platforms for such awards, ness institution in Nigeria. offering carrier neutral coloca-
commerce and industry awards painstaking selection process needed employment for the which cuts across all the sec- Rack Centre is developing tion services. It has connec-
held recently in Lagos. from numerous entries received youth while also enhancing tors of the Nigerian economy world class technology so tion to over 27 of the major
Director General of LCCI, for the award category and data security and reliability and was to showcase those that businesses do not have carriers and Internet Service
Mr. Muda Yusuf, while ex- backed by feedback from for corporations across the organisations that “have made to host their data abroad, Providers (ISPs) in the country
plaining the rationale for the industry’s market intelligence.’’ African continent. remarkable contribution to the or spend scarce resources and direct connection to all
awards, which is in its fifth Director, Advocacy and “We are very proud of Rack development of commerce and building data centres locally undersea cables serving the
edition, said: “The objective Enterprise Development, LCCI, Centre and LCCI in its 2018 industry and the economy at and our Cloud-on-Ground of- South Atlantic Coast of Africa.

Vodacom Business
Nigeria Wins at Beacon
of ICT Awards
Vodacom Business Nigeria Provider of the Year, a new
has been honored with three category introduced this year.
major accolades at the Beacon Speaking at the award
of ICT (BoICT) Awards 2018. ceremony, which took place
Adding to the list of accolades, in Lagos at the Eko Hotel &
Vodacom, received awards for Suites, Victoria Island, Lagos,
Enterprise Solutions Provider of recently, Managing Director
the Year, an award conferred for Vodacom Business Nigeria,
on the company consistently Lanre Kolade said: “Winning
since 2013; Internet of Things these three awards elicits two
(IoT) Focused Company, owing very distinct emotions today,
to its pioneering and visionary pride and humility. Pride in the
endeavors in this area in the achievements of our dynamic
past two years. A third award and tenacious team over the
was also given to Vodacom for years, and humility because
Enterprise Broadband Services we would be nowhere without
Provider of the year. our customers who continue
The BoICT awards is a merit to trust us to meet their total CAPACITY BUILDING
based celebration organised by communications needs and keep Regional Bank Head, Victoria Island, Fidelity Bank Plc, Chinwe Ighodalu (fourth from the left), with female entrepreneurs at Impact Her
Nigeria CommunicationsWeek, them connected 24/7.” Workshop after delivering a lecture to them on ‘Loan Readiness For Women in Business’ which took place at Canton Concourse, Maroko in
which aims to recognise out- According to him, “These Lagos...recently
standing contributions to the awards are an affirmation of our
growth and development of diligence and commitment to
ICT in Nigeria. delivering the highest quality ESET Wins BoICT 2018 Etisalat, Intel, Ericsson Celebrate
This year, over two million enterprise-grade total communi-
readers of Nigeria Communica- cations solutions in the industry. Information Security Company 5GVarsity Contest Winners
tionsWeek voted in different cat- We assure our customers that we
egories and Vodacom emerging will not relent in our pursuit of Award Etisalat and Intel, together with students Baleegh Ahmad and
as the clear winners in the three innovative technological solutions Ericsson have congratulated Doovaraha Maheswarasarma
categories; Enterprise Solutions that accelerate business growth ESET has emerged the Best who are constantly innovating students from the American from NYU Abu Dhabi who
Provider of the Year, Internet of and profitability, with unwaver- Information Security Company and contributing their quota to University of Sharjah for dem- proposed a solution based on 5G,
Things Focused Company and ing determination to turn their of the Year at Beacon of ICT the growth of the ICT industry, onstrating innovative 5G use cases augmented reality and robotics to
Enterprise Broadband Services challenges into solutions.” awards 2018, for its dedication adding “we are at Communica- as part of the recently concluded optimize and automate operations
to developing high-performing tions Week Media are happy university competition. in the cargo industry.
security solutions for home users that Nigerians have recognized The Information and Com- Finally, Bashar Al Jabery,
and corporate customers. ESET’s hard work, sincerity and munication Technology (ICT) Marawan El Bardicy and Mustafa
Aruna Appointed First Nigerian ESET is known for predicting, dedication towards the defense giants joined forces in February Al Jassim from the American
preventing, detecting and reme- of the of industry.” this year to launch the university University of Sharjah came in third
Tetra Pak MD diating all known and emerging Commenting shortly after competition, targeting engineering place with their “Wear Hear” use
forms of cybersecurity threats. receiving the award, Country students from renowned UAE case around using smart glasses,
Tetra Pak West Africa has Aruna, a graduate of The Company took home the Manager, ESET, Mr. Olufemi universities, under the theme 5G and Edge computing to help
confirmed the appointment Chemical Engineering is also prestigious award two years Ake, dedicated the award to the of ‘Driving the Future of 5G individuals with hearing disabilities
of Oshiokamele Aruna as the a Chartered Accountant. He has in a row after topping other numerous ESET loyal customers Innovation’. Over 20 teams better communicate and integrate
new managing director(MD) attended various courses in top challengers during the online in the country. from the American University in the society.
of the company. The appoint- management schools including voting, the BoICT Awards He also appreciated the of Sharjah, Khalifa University and The winning teams will all
ment of Aruna, makes him IMD in Switzerland. He has organisers said. team for their consistency and New York University Abu Dhabi receive valuable prizes including
the first Nigerian to attain this over 18 years’ work experience ESET is notable for her exten- resilience over the years. “We competed to best demonstrate 5G internship opportunity in Etisalat
position in the history of Tetra spanning various senior manage- sive line of solutions which protect are happy that Nigerians rec- use cases. Five of the 21 teams or Ericsson as well as a one of its
Pak, a leading processing and ment roles including Tetra Pak across all types of environments ognized our efforts in offering were shortlisted and invited to kind enrollment opportunity to a
packaging solutions provider. West Africa, a company that he and platforms from computers and a full range of business and present their innovative ideas tailor made three-month coaching
“My ambition is to reinforce joined in 2005. His last position servers to mobile devices, helping consumer products. In fact, in front of a prestigious jury of program from Ericsson Garage,
Tetra Pak’s leadership in West was Finance Director from 2011 their clients maintain maximum more than 95 per cent of industry executives: Khalifa Al which will be kicked off by a full
Africa, and support our partners until his recent appointment. protection across all types of our customers in Nigeria are Shamsi, Etisalat Group Chief week trip to Ericsson Stockholm.
and customers in their respective Tetra Pak is a global leading environments. Founder/Editor retained annually. This says a Strategy & Corporate Governance Senior Vice President, Mobile
projects. West Africa has a great food processing and packaging In-Chief, Nigeria Communication- lot about our commitment to Officer, Petter Järtby, Head of Network, Etisalat, Saeed
development potential and I’m solutions company. Working sWeek, Mr. Ken Nwogbo, said providing proactive protection Etisalat Global Customer Unit Alzarouni, who commented
glad to become more involved in closely with its customers and the superior detection capabilities, and enviable technical support at Ericsson, and Taha Khalifa, on the students’ entries at the
my native region,” Aruna said. suppliers, the company provides low system requirements of the service to existing customers,” Sales Director, EMEA Territory awards ceremony, said: “We
Communications Director, safe, innovative and environmen- company’ solutions, coupled with Ake said. Our product ranges at Intel evaluated the shortlisted believe innovation is the future
North & West Africa of the tally sound products that each day the local presence and premium from Endpoint Security, Server projects. Abdullah Ahmed, Jay- of human investment which is
company, Tawfiq Agoumi, said meet the needs of hundreds of support services to their clients, Security (both File Server and roop Ramesh, and Saad Aldeen why our vision as a company is
the appointment “is a reflection millions of people in more than irrespective of the company size, Mail Security for Exchange from the American University in line with the national agenda
of Aruna’s impeccable pedigree 170 countries around the world. came to play even as the products Server), Access Protection (Two- of Sharjah won first place after that emphasizes its importance
and competence, and confirms With more than 23,000 employees are priced among independent Factor Authentication), Data presenting their ground-breaking across sectors where innovation,
the strategic importance of the based in over 85 countries, the anti-malware testing organisations. Loss Prevention, Encryption, idea of Decentralized Peer to Peer research, science and technology
Nigerian market, one of the most company believes in responsible Nwogbo further described Mobile Device Management, Mobile Devices Cloud computing will form the pillars of a highly
dynamic in the Middle East and industry leadership and a sustain- the award as a testament to Patch Management and Threat using 5G technology. productive and competitive
Africa region.”. able approach to business. array of talents at ESET Nigeria Detection & Management. Runner up position went to economy.”
T H I S D AY ˾˜͵˜ͰͮͯͶ 31


SES Increases Reach in Nigeria to over 11m

TV Homes
Emma Okonji hosts SES’s premium free-to-air at 28.2 degrees East, which DTH/DTT approach is the said in addition to the growth were being included in the
TV platform for Nigeria, giving broadcasters and content winning strategy to deliver of homes reached in Nigeria, Satellite Monitor for the first
SES, a global satellite service broadcasters access to the highest programmers will be able TV entertainment to the highest the study also showed that year, account for an additional
provider, significantly increased technical reach in West Africa. to leverage to increase their number of TV homes.” there was an increase from two seven million homes reached by
its technical reach in Nigeria The growth of SES’s reach was audience via our Nigerian While presenting the survey million to four million homes SES. According to him, SES has
to over 11 million TV homes also driven by direct satellite TV platform. In addition, the statistics, Vice President, Market- reached in Ghana, Ethiopia, also expanded its reach to 30
in 2017, up from three million broadcasting and feeding DTT results show that the hybrid ing at SES, Mr. Paul Freeman, Uganda and Tanzania, which million TV homes across Africa.
in 2015. The growth figure head-ends via five degrees East.
was obtained from the recent According to the survey, there
Satellite Monitor research, a are 35 million TV homes in
market study commissioned Nigeria, of which close to 10 mil-
by SES that provides insights lion are served by satellite, and
on the broadcasting industry and the rest are served by terrestrial
on SES’s reach in the country. networks. The penetration of
The smonitor results reveal digital TV has expanded to 25
that SES now reaches over 11 million homes receiving digital
million TV homes, of which 3.5 TV signals, which represents
million are directly served by its 35 per cent growth compared
satellite fleet - a twofold increase to 2015.
compared to 2015. This means Analysing the survey results
SES now directly serves 37 per at a press conference, Vice
cent of satellite TV homes in President, Sales and Market
Nigeria. Digital Terrestrial Televi- Development for Africa, SES
sion (DTT) homes fed indirectly Video, Mr. Clint Brown, said:
by SES also contributed to the “SES has been committed to
increased reach. driving the growth of digital
The prime orbital position at TV in Nigeria for many years,
28.2 degrees East was a key and local partners in the country
driver for the growth of SES’s appreciate the Satellite Monitor
direct reach, with three million study as a token of our com-
TV homes directly served via mitment.
this orbital slot, up from 1.3 mil- “We are particularly excited
lion in 2015. This video position by our growing technical reach

Teniola Re-elected ATCON

President, Harps on Broadband HONOUR WELL DESERVED
L-R: Assistant Business Development Manager, Priority Communications, Aanuoluwapo Agboola; Engineering Manager,
Access Olujide Idowu and former Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Ernest Ndukwe, at the BoICT Award,
where Priority Communications was announced as IT Services Provider of the Year, which held in Lagos ... recently
Emma Okonji affordable services to the
consumers. This will drive
The Chief Executive Officer huge data as required as
of Kinten Telecoms, Mr. well as provide access to Infinix Mobile Holds Smartphone Photography Masterclass
Olusola Teniola has been broadband infrastructure
re-elected as President of for those outside Lagos,”
the Association of Telecoms Teniola said. Emma Okonji which held in collaboration centric society. She lectured the amazing 20MP Low Light
Companies of Nigeria (AT- Commending Globacom for with Deola Adebiyi of Omoge participants on how to take selfie with a bokeheffect and
CON), while the CEO of the planned takeoff of Glo2, Following the recent release of Mura, a blogger, explored latest quality selfies by finding the the beautify mode, 18:9 infinity
Medallion Communications, Teniola said it would help to its latest smartphone flagship trends on how to capture great light, using grid lines and not display and a huge 4000mAh
Mr. Ikechukwu Nnamani advance broadband capacity device, the Hot S3, Infinix moments with selfies. being afraid to edit. battery capacity.
emerged the new First Vice to the hinterlands, outside of Mobile, last week, held a Remarkably, Infinix mobile “This is a welcome initiative “The Infinix Hot S3 provides
President of ATCON. Lagos for easy access. smartphone photography master is among the mobile brands other brands should emulate. I seamless multitasking with its
Other members of exco Pleased with the conduct class to share knew knowledge that are fully aware of how thought I knew it all when it comes huge 3GB RAM and can store
that emerged at the election, of the election, Nnamani said on the use of selfies to capture much selfies have become a to smartphone photography, but a lot of data such as songs,
which took place last week, the new excos would review best moments. part of our everyday existence this master class has taught me HD movies, images with its
were, Mr. Muyiwa Ogung- the current ATCON policies, The master class, which was as Nigerians. that there are a lot of things I 32GB ROM which is expandable
boye of eStream Networks with a view to upgrading well attended, validates existing Through the master class didn’t know about smartphone up to 128GB. On the camera
as Second Vice President; some of the policies that facts that the brand is one of themed: “How A Selfie Focused photography’ said,” Shola Adebiyi, department, we have set this
Myke Ofili of Coloplus are still relevant in today’s the biggest mobile brands in Phone Can Help Lifestyle blog- an excited participant. device up to compete with the
Worldwide Services Lim- digital era, and discard those Nigeria that can be trusted to ging,” Infinix has only gone on Also speaking at the master class best with it 20MP+13MP with
ited as National Secretary; that are not. deliver every time there is a to re-echo the multiple possibili- was Infinix Hot S3 Product Man- bright flash which is at par with
Aderonke Adeyegbe of “Digital technology and need for great invention in the ties that can be attained using ager, Andy Wang, who spoke on a professional camera. So, users
Comercio Limited as Fi- convergence have created some mobile tech space. its device in finding expression some of the amazing features of have nothing to worry about,”
nancial Secretary; Anucha disruptions in the technology The photography master class, for business and style in a photo the new phone. They include Wang said.
Hyacinth of GTS -Infotel space, and we must align our-
Nigeria Limited as Trea- selves with the global realities
surer and Adanna Nosiri of today’s digital era. Today
of IHS Nigeria Limited as
Publicity Secretary. Others
we see a new set of technology
activities from Value Added
Organisations Overhauling IT Will Leapfrog
were Ezekiel Egboye of Service (VAS) providers and the
Rack Centre Limited as
Coordinator, Equipment
FinTechs, creating new line of
businesses that drives efficiency
Competition, Says Dell EMC
Dealers; Osondu Nwokoro and profitability. The newly Emma Okonji changing customer needs. A customers the ability make that today need to be agile to stay
of ntel as Coordinator, elected excos will address the fundamental first step to this end-to-end strategy a reality, competitive and drive growth,
Telephone Operators, new development and ensure Dell EMC has announced the change is transforming IT, to help driving disruptive innovation and IT transformation can be
among others. that member companies benefit results of new research con- organisations bring products to without the fear of being a major enabler of that. It’s
Addressing the media from them. ducted by Enterprise Strategy market faster, remain competitive disrupted themselves.” clear that IT Transformation
shortly after the election, We will come up with new Group (ESG) into the benefits and drive innovation. ESG employed a research- is increasingly resonating with
Teniola assured Nigerians advocacy that will enhance of information technology (IT) Vice Chairman, Products and based, data-driven maturity companies and that senior
of the resolve of the newly members’ businesses and transformation which validates Operations, Dell Technologies, model to identify different stages executives recognisse how IT
elected excos to vigorously promote stable economy,” that IT transformation can result Jeff Clarke, said: “Data is the of IT Transformation progress Transformation is pivotal to
pursue broadband penetration Nnamani said. in bottom-line benefits that new competitive edge – yet it’s and determine the degree to overall business strategy and
and ensure that all Nigerians Addressing the issue of drive business differentiation, become highly distributed across which global organisations have competitiveness.”
have access to broadband at multiple taxation in the innovation and growth. the edge, the core data center achieved those different stages, At Dell Technologies World,
affordable rate. telecoms industry, Nnamani Today’s business landscape is and cloud. Organisations realise based on their responses to ques- which holds April 30th to
“We need competition in said ATCON would continue rife with disruption, much of it they have to move quickly to tions about their organisations’ May 3rd, 2018, experts from
the industry that speaks to to engage with the relevant driven by organisations using turn that data into business adoption of modernised data Dell EMC will discuss these
the open access so that our authorities at the federal, technology in new or innovative intelligence – requiring an centre technologies, automated results and demonstrate how
Internet Service Providers state and local governments ways. In order to survive and end-to-end IT infrastructure that IT processes and transformed IT transformation creates a digital
(ISPs) and other industry to arrive at a consensus on thrive in today’s digital world, can manage, analyse, store and organisational dynamics. advantage that can help busi-
operators can gain access how best to levy telecoms businesses are implementing protect data everywhere it lives. Vice President of Research, nesses become more valuable to
to the right capacities and operators and still make them new technologies, processes “We’re in the business of better Enterprise Strategy Group, John customers and more competitive
pricing so as to provide competitive in their business. and skillsets to best address business outcomes, giving our McKnight, said: “Companies in their respective markets.
32 T H I S D AY ˾ MONDAY MAY 7, 2018 T H I S D AY ˾ MONDAY MAY 7, 2018 33
34 T H I S D AY ˾˜MAY 7, 2018


Afreximbank Urges Infrastructure Upgrade to Enhance African Trade

Obinna Chima She also pointed out that only for investment in national/
a few of the African countries domestic fleet through gradual
Africa must urgently upgrade with access to the sea had estab- and staggered vessel acquisition,
its maritime and logistic infra- lished the right infrastructure for terminal management, freight
structure in order to success- marine transport even though forwarding and logistics.
fully promote the continent’s Marine transport accounted for 92 Opportunities also existed
trade, especially intra-African per cent of Africa’s external trade in inland waterways, cruise
trade, the African Export- and 92 per cent of the continents ship services, trans-shipment,
Import Bank (Afreximbank), imports were seaborne. container manufacturing and
has said. According to her, Africa repairs, dry docking and other
In an address at the Africa currently handles only six per value addition services, such as
Shipowners Summit in Seychelles cent of global seaborne traffic, sorting, arranging, packaging/
recently, the Managing Director out of which 50 per cent of the re-packaging, cold storage and
of Afreximbank’s Intra-African volume was handled by Egypt distribution, she added.
Trade Initiative, Kanayo Awani, and South Africa. The summit, organised by the
who spoke on behalf of Bank’s Lamenting that most African African Shipowners Association,
President, Dr. Benedict Oramah, countries did not have national also featured the presentation of
described weak maritime and vessels, Awani said it was es- an Honorary Captain’s Award
logistic infrastructure as being timated that Kenya lost about to Oramah by the organisers
particularly harmful to African $3 billion annually in money for Afreximbank’s contribu-
trade. paid to foreign shipping lines. tion in supporting the Blue
Awani noted the continent She recommended incentives Economy and the Maritime
currently has the world’s highest to encourage African businesses Sector in Africa. Awani ac-
transportation and transaction to support the development of cepted the award on behalf
costs. local shipping lines and called of the President.

Access Bank Empowers 500 Broad Street

Female SME Operators

Access Bank Plc has disclosed
that its ‘W’ Academy, in partner-
economic empowerment in the
economic reality as well as help
them simplify processes and hone
ship with the Enterprise Develop- “The Womenpreneur Business the requisite skills needed to
ment Centre (EDC) of the Lagos workshop is intended to educate grow their businesses. MONEY AND CREDIT STATISTICS (MILLION NAIRA)
Business School (LBS), recently and enlighten Nigerian women So far, over 2,300 business AUGUST 2017
organised a professional business on the fundamentals in business women in Lagos, Port Harcourt,
capacity-building workshop for which will eventually help them Ibadan, Abuja, Kaduna & Enugu Broad Money (M2) 21,851,454.31
500 female entrepreneurs in attain their full potential.” have benefitted immensely from -- Narrow Money (M1) 9,890,813.10
Port-Harcourt, Abuja and Lagos. The Womenpreneur Business the workshop with testimoni-
These capacity building initia- workshop, a flagship training als around increasing their ---- Currency Outside Banks 1,523,239.91
tives across the three states took of the ‘W’ Academy under its business network, improving
---- Demand Deposits 8,367,573.19
place in the last four months and Access Bank’s ‘W’ initiative was their business model and are
served as the third, fourth and designed to address the lack of thriving through the economic -- Quasi Money 11,960,641.22
fifth editions of the Second season access to entrepreneurial skills, constraints with ease. This first
of the bank’s Womenpreneur finance, networking, and man- of its kind workshop is highly Net Foreign Assets (NFA) 9,732,990.89
Business Workshop training. agement skills; which are the key discounted and targeted at small Net Domestic Assets(NDA) 12,118,463.42
Speaking on the initiative, the barriers to women’s economic and medium scaled women
Group Head, Product Sales of inclusion. The objective of the entrepreneurs. Wemi-Jones -- Net Domestic Credit (NDC) 26,821,446.81
Access Bank Plc, Ope Wemi-Jones Womenpreneur Business Work- disclosed that plans have been ---- Credit to Government (Net) 4,824,226.22
said, was quoted in a statement shop is to provide a discounted concluded to hold the next edi-
from the bank as saying: “Since and practical capacity building tions of the workshop in Kano ---- Memo: Credit to Govt. (Net) less FMA 7,834,536.74
2006, the bank has maintained its programme that exposes female and Ibadan in July and August
---- Memo: Fed. and Mirror Accounts (FMA) --3,010,310.52
commitment to drive women’s business owners to the nation’s respectively.
---- Credit to Private Sector (CPS) 21,997,220.59

--Other Assets Net --14,702,983.39

Participants Hail GTBank Food Fair Reserve Money (Base Money) 5,486,804.65

Peter Uzoho and connect with new comers. up for GT bank for packaging --Currency in Circulation 1,868,735.07
Commenting on their experi- such an excellent fair,” she said. 3,268,266.17
--Banks Reserves
The Food and Drink Fair ences at the fair, attendees said The Food and Drink Fair,
recently organised by Guar- the bank provided a perfect place according to the bank, was ˾ÙßÜÍÏ̋
anty Trust Bank (GTB) has for fun, business and networking. designed to celebrate Nigeria’s Money Market Indicators (in Percentage)
received commendations from A vendor who deals on food vibrant food culture while
Month August 2017
participants. stuff, fruits and vegetable, the promoting enterprise in the
The fair, which took place in CEO of Vegetalfoods, Mrs. small business sector of the Inter-Bank Call Rate 22.63
Lagos, attracted over 300, 000 Osaretin Okaro, said the fair food industry, bringing together
participants including interna- enabled her to make more SMEs operators, global-renowned Minimum Rediscount Rate (MRR)
tional chefs, vendors, parents business contacts. chefs and food lovers from across
Monetary Policy Rate (MPR) 14.00
and guardians, school children, “Thank God I didn’t fail to the world. The Chief Executive
pleasure-seekers, amongst oth- come to this fair. I made sales Officer of the bank, Mr. Segun Treasury Bill Rate 13.35
ers, who took advantage of the like never before. The most Agbaje, said at a press confer-
three-day show to make sales, interesting thing is that it has ence before the commencement Savings Deposit Rate 4.08
transfer and update knowledge, made to add more contacts to of the fair that alongside the
1 Month Deposit Rate 8.86
market individual products and the one I have”, she enthused. unparalleled culinary experience,
services, as well as networking. “You can see what is hap- it showcased the richness of 3 Months Deposit Rate 10.14
Being the second in its pening here, great business Africa’s food culture and the
series, the fair, which centred opportunity. People are coming vibrancy of the small businesses 6 Months Deposit Rate 11.51
on promoting enterprise and here to patronise us. So I thank involved in the industry.
12 Months Deposit Rate 11.40
showcasing unique African the bank for this opportunity. I “Apart from the amazing
delicacies, had British award- urge them to continue doing this experiences that we create for Prime Lending rate 17.69
winning chef and TV presenter, every year,” she added. our tens of thousands of guests,
Edd Kimber, as the headliner and One of the food enthusiasts it is the personal testimonials Maximum Lending Rate 31.20
accompanied by his professional and fun-seekers, Agogo Edohor, that we receive from participants
colleagues including Lorraine said the programme was fantastic that speak to the true value of
Pascale, Scott Winston, Sunny and amazing. the initiative,” he said. ˾ÙØÏÞËÜãÙÖÓÍãËÞÏ̋ͯͱϱ
Anderson, Muse Tahir, Siba “Oh my God, I feel like not Agbaje added: “Behind OPEC DAILY BASKET PRICE AS AT THURSDAY MAY 3, 2018
Mtongana, Raphael Duntoye, leaving here again. This is so these small businesses are hard-
and Elizabeth Solaru. fantastic and amazing. I’m working fathers, enterprising The price of OPEC basket of fourteen crudes stood at $70.66 a barrel on Thursday,
Masterclasses of different having great fun here, tasting mothers and incredibly pas- compared with $70.47 the previous day, according to OPEC Secretariat calculations.
sessions were delivered for foods and wines. sionate youths who when they
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend
both old and young culinary “Look at the setting, so neat, share their remarkable stories
(Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light
artists and small and medium so enticing. You have all you of record sales at the fair, we
(Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait),
enterprises and school children need right here. And they made see not just the impact of our
Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia),
who were taught the different it so convenient that you have efforts at promoting enterprise
Murban (UAE) and Merey (Venezuela
cooking and baking skills, while different options for payment. I but the immense capacity of our
food and vendors were offered wish this could go on beyond organisation as a platform to
SOURCE: OPEC headquarters, Vienna
ample opportunity to do business the three years. I give thumbs enriching lives.”
T H I S D AY ˾˜͵˜ͰͮͯͶ 35


NAHCO to Pay N406m Dividend as Firm Records Improved Results

Goddy Egene aircraft, passenger and cargo of 34 per cent. Earnings per N1.786 billion in the correspond- The Q1 results are the first year commended the board and
handling services and other share improved from 36 kobo ing period of 2017. set of results produced by the management for the improved
The Board of Directors of related services surmounted to 48 kobo. Hence, the board Finance income improved Managing Director/CEO, Mr. Idris results despite the challenging
Nigerian Aviation Handling challenges in 2017 to end the of directors recommended a from N30.916 million to N64.495 Yakubu, who was appointed in operating environment. They
Company Plc (NAHCo) has year with higher profit after tax dividend payment of 25 kobo, million, while the company was November 2017. pledged their support for better
recommended a dividend (PAT). The company recorded which is higher than the 22 kobo able to reduce finance cost to Stock market operators said future results and urged the board
of N406 million for the year a turnover of N7.926 billion in paid the previous year. N44.536 million, from N55.715 with the Q1 performance, and management to sustain the
ended December 31, 2017. The 2017, compared with N7.956 In the same vein, NAHCo million in 2017. Profit Before Tax Yakubu, a former banker, who performance.
dividend, which translates to billion in 2016. Finance cost was has started 2018 on a very jumped to N117.405 million in has an extensive experience in Chairman of NAHCo, Usman
25 kobo per share, is expected reduced from N545 million in bright note, recording significant 2018, compared with N1.026 delivering agreed strategic busi- Bello had informed the sharehold-
to be approved by shareholders 2016 to N213 million in 2017, growth in PAT for the first quarter in 2017, while PAT followed ness imperatives, is bringing his ers that in spite of the recession
at the forthcoming Annual while PAT rose from N581 (Q1) ended March 31, 2018. The similarly trend to hit N97.566 experience to bear in the company and the global weakness in the
General Meeting (AGM). million in 2016 to N776 million reported a turnover of N2.188 million, compared with N1.026 to the delight of all stakeholders. aviation sector, the company’s
NAHCo, which provides in 2017, showing an increase billion in Q1 of 2018, up from million in 2017. Shareholders of NAHCo had last performance was commendable.

P R I C E S F O R S E C U R I T I E S T R A D E D A S O F 0 4 / 0 5 / 2 0 1 8
36 ˜Ϳ˜ͺ͸͹Ͷ˾T H I S D AY

Nigeria Daily Stock Market Report: Monday, May 7, 2018


Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
Current Current Divinden Earnings
ŝŶ ƐŝĂŶ ŵĂƌŬĞƚƐ ƚŚŝƐ ǁĞĞŬ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ƌĞƉŽƌƚƐ ŽƵƚ ŽĨ ŚŝŶĂ ƐƵŐŐĞƐƚ ƚŚĂƚ ƚŚĞ Ticker Price Change Index to ROE ROA P/E P/BV
Price Weighting d Yield Yield
ŵĂƌŬĞƚƐŝŶƚŚĞŶĞĂƌƚĞƌŵ͘ůƐŽ͕ŝŶƚŚĞĐŽŵŵŽĚŝƟĞƐŵĂƌŬĞƚ͕ŽŝůƉƌŝĐĞƐůŝĚϬ͘ϮйtͲŽ THISDAY AFRINVEST 40 1,739.07 0.01% 12.7% 73.9% 21.2% 7.7% 8.0x 1.0x 4.7% 11.8%
Ͳt ƚŽ h^Ψϳϯ͘ϰϰͬď ;ĂƐ ŽĨ ǁƌŝƟŶŐͿ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ Žŝů ƌĞŵĂŝŶƐ Ăƚ ŝƚƐ ŚŝŐŚĞƐƚ ůĞǀĞů 1 Guaranty Trust Bank PLC 45.30 0.2% 21.1% 11.2% 11.7% 32.6% 5.2% 7.4x 2.5x 6.0% 13.6%
2 Zenith Bank PLC 12.4% 7.3% 6.1% 26.3% 3.6% 4.6x 1.2x 9.8% 21.7%
3 Nigerian Brew eries PLC 129.00 1.4% 7.7% -4.4% -4.5% 17.4% 8.3% 32.3x 5.5x 3.2% 3.1%
/ŶƚŚĞĚĞǀĞůŽƉĞĚŵĂƌŬĞƚƐ͕ƚŚĞE^YǁĂƐƚŚĞďŝŐŐĞƐƚŐĂŝŶĞƌ͕ƵƉϬ͘ϵйǁŚŝůĞƚŚĞ 4 Nestle Nigeria PLC 1,595.00 0.3% 7.3% 2.5% 2.5% 73.3% 18.9% 37.2x 23.7x 2.7% 2.7%
h<&d^ůů^ŚĂƌĞĂƉƉƌĞĐŝĂƚĞĚϬ͘ϴйtͲŽͲtůĂƌŐĞůLJĚƌŝǀĞŶďLJƉŽƐŝƟǀĞĞĂƌŶŝŶŐƐĂƐ 5 Dangote Cement PLC 245.50 0.1% 5.9% 6.7% 6.7% 22.7% 12.0% 21.2x 4.9x 4.3% 4.7%
6 FBN Holdings Plc 7.0% 42.6% 42.8% 6.7% 0.8% 9.0x 0.7x 2.0% 11.1%
7 Access Bank PLC 11.30 0.0% 4.3% 8.1% 6.6% 12.7% 1.5% 5.6x 0.7x 5.8% 18.0%
ĞdžƉĞĐƚĞĚ͘ 8 United Bank for Africa PLC 11.70 -0.4% 4.4% 13.6% 12.4% 15.9% 1.9% 5.2x 0.8x 7.3% 19.3%
9 Ecobank Transnational Inc 20.55 -1.2% 3.5% 20.9% 26.3% -14.6% -1.3% 6.8x 0.8x 3.0% 14.7%
10 SEPLAT Petroleum Development C 750.00 -2.0% 3.3% 19.8% 19.8% 22.3% 13.2% 3.9x 0.8x 2.4% 26.0%
h^ͲŚŝŶĂ ƚƌĂĚĞ ƚĂůŬƐ͘ EŽŶĞƚŚĞůĞƐƐ͕ Ăůů ŽƚŚĞƌ ŝŶĚŝĐĞƐ ŝŶ ƚŚĞ ƐĞŐŵĞŶƚ ƚƌĞŶĚĞĚ 11 Stanbic IBTC Holdings PLC 49.50 0.0% 3.1% 19.3% 21.0% 28.9% 3.8% 9.4x 2.7x 1.0% 10.7%
ŶŽƌƚŚǁĂƌĚƐ͘  'ĞƌŵĂŶLJ͛Ɛ ydZ y ĂŶĚ &ƌĂŶĐĞ͛Ɛ  ϰϬ ƌŽƐĞ ϭ͘ϵй ĂŶĚ Ϭ͘ϲй 12 Unilever Nigeria PLC 52.50 0.0% 2.9% 28.0% 30.6% 19.2% 8.0% 28.1x 3.8x 1.0% 3.6%
13 Guinness Nigeria PLC 2.3% 10.1% 10.1% 15.4% 6.1% 19.7x 2.6x 0.6% 5.1%
14 Lafarge Africa PLC 42.00 0.0% 1.4% -6.4% -6.4% -36.8% -7.7% 2.3x 3.6% -14.7%
ƌĂnjŝů͛Ɛ/ďŽǀĞƐƉĂƐŚĞĚϯ͘ϰйŽŶƚŚĞďĂĐŬŽĨůŽƐƐĞƐŝŶƚŚĞĮŶĂŶĐŝĂů͕ƌĞĂůĞƐƚĂƚĞĂŶĚ 15 Fidelity Bank PLC 2.42 -3.6% 1.1% -1.6% -6.2% 8.0% 1.1% 2.0x 0.3x 4.5% 49.9%
ĐŽŶƐƵŵĞƌ ŐŽŽĚƐ ƐĞĐƚŽƌƐ͘ ůƐŽ͕ ZƵƐƐŝĂ͛Ɛ Zd^ ĂŶĚ /ŶĚŝĂ͛Ɛ ^ ^ĞŶƐ ĨĞůů ϭ͘ϴй ĂŶĚ 8.35 -4.0%
16 Oando PLC 1.6% 39.4% 39.4% 9.4% 1.4% 10.4x 0.6x 9.6%
Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ tͲŽͲt͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ^ŽƵƚŚ ĨƌŝĐĂ͛Ɛ &d^ͬ:^ ůů ^ŚĂƌĞ
17 Dangote Sugar Refinery PLC 19.00 0.0% 1.0% -5.0% -6.7% 43.2% 19.8% 7.4x 2.9x 13.2% 13.5%
18 Okomu Oil Palm PLC 81.00 3.1% 1.2% 19.7% 19.7% 39.7% 29.4% 8.1x 2.8x 3.7% 12.4%
ǁĞĂŬĞŶŝŶŐ ŽĨ ƚŚĞ ZĂŶĚ ĂŐĂŝŶƐƚ ƚŚĞ ŽůůĂƌ ǁŚŝůĞ ƚŚĞ ^ŚĂŶŐŚĂŝ ĐŽŵƉŽƐŝƚĞ 19 International Brew eries PLC 51.80 9.1% 0.7% -5.0% -5.8% 24.6% 7.4% 54.2x 12.3x 1.8%
ƐƵƌƉƌŝƐŝŶŐůLJ ƌĞĐŽƌĚĞĚ ŐĂŝŶƐ ĚĞƐƉŝƚĞ ŝŶǀĞƐƚŽƌ ĨĞĂƌƐ ƟĞĚ ƚŽ ƚƌĂĚĞ ǁĂƌ ƵŶĐĞƌƚĂŝŶƟĞƐ 20 Flour Mills of Nigeria PLC 35.50 0.0% 0.7% 22.4% 22.4% 13.1% 3.0% 7.4x 0.9x 2.6% 13.5%
ĂƉƉƌĞŚĞŶƐŝŽŶƐ͘ 1.67 -2.3%
21 Transnational Corp of Nigeria 0.6% 14.4% 12.8% 11.2% 2.5% 10.2x 1.1x 1.2% 9.8%
^ŝŵŝůĂƌůLJ͕ ĨƌŝĐĂŶ ŵĂƌŬĞƚƐ ǁĞƌĞ ďĞĂƌŝƐŚ ĂƐ ŽŶůLJ ŽŶĞ ŝŶĚĞdž ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞͲ 22 UAC of Nigeria PLC 18.00 0.0% 0.5% 6.5% 6.5% 2.2% 0.8% 29.1x 0.7x 3.6% 3.4%
'ŚĂŶĂ͛Ɛ'^ŽŵƉŽƐŝƚĞ;нϬ͘ϰйͿͲĂƉƉƌĞĐŝĂƚĞĚtͲŽͲt͘ŐLJƉƚ͛Ɛ'yϯϬĂŶĚ<ĞŶLJĂ͛Ɛ 23 Diamond Bank PLC 2.11 1.4% 0.7% 40.7% 34.4% 2.5% 0.3% 8.5x 0.2x 11.7%
E^ ϮϬĨĞůůϭ͘ϲйĂƉŝĞĐĞ͕ůĂƌŐĞůLJ ĚƵĞƚŽ ƉƌŽĮƚƚĂŬŝŶŐ͘>ŝŬĞǁŝƐĞ͕ EŝŐĞƌŝĂ͛Ɛůů^ŚĂƌĞ 222.20 0.0%
24 Total Nigeria PLC 0.5% -3.4% -3.4% 25.0% 5.3% 10.7x 2.5x 7.7% 9.3%
25 FCMB Group Plc 2.56 1.6% 0.7% 62.0% 5.1% 0.8% 4.9x 0.3x 3.9% 20.5%
 26 11 PLC 180.40 -5.0% 0.4% -7.3% -7.3% 30.8% 11.0% 6.5x 2.4x 15.4%
27 Forte Oil PLC 43.00 0.0% 0.4% -1.1% 2.4% 17.6% 1.6% 23.2x 3.6x 4.3%
28 PZ Cussons Nigeria PLC 22.50 0.0% 0.4% 9.2% 6.4% 10.7% 5.0% 21.3x 2.2x 2.2% 4.7%
29 Cadbury Nigeria PLC 13.15 0.0% 0.3% -16.1% -15.7% 2.0% 0.8% 61.4x 2.1x 1.2% 1.6%
30 Presco PLC 70.00 -0.7% 0.3% 2.2% 2.2% 39.7% 28.0% 2.9x 0.9x 2.9% 34.4%
31 NASCON Allied Industries PLC 21.40 4.4% 0.3% 15.7% 11.3% 54.6% 19.5% 10.1x 4.9x 7.0% 9.9%
tͲŽͲt ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ƐŚĞĚ Ϭ͘ϭй ƚŽ ƐĞƩůĞ Ăƚ ϰϭ͕Ϯϭϴ͘ϳϮ ƉŽŝŶƚƐ ǁŚŝůĞ zd
ƌĞƚƵƌŶ ƐƚŽŽĚ Ăƚ ϳ͘ϴй͘ ^ŝŵŝůĂƌůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĚĞĐƌĞĂƐĞĚ ďLJ Eϵ͘ϱďŶ ƚŽ 32 UPDC Real Estate Investment Tr 10.00 0.0% 0.3% 0.0% 0.0% 0.8x 7.2%
Eϭϰ͘ϵƚŶ͘dŚĞǁĞĞŬ͛ƐŶĞŐĂƟǀĞƉĞƌĨŽƌŵĂŶĐĞǁĂƐůĂƌŐĞůLJĚƌŝǀĞŶďLJƐĞůůŽīƐŝŶůĂƌŐĞ 33 Union Bank of Nigeria PLC 6.70 0.0% 0.3% -14.1% -10.8% 5.6% 1.2% 8.6x 0.4x 11.7%
ĐĂƉ ƐƚŽĐŬƐ ʹ E^d> ;Ͳϭ͘ϮйͿ͕ E/'Z/E ZtZ/^ ;ͲϬ͘ϴйͿ ĂŶĚ ^W>d ;ͲϮ͘ϬйͿ͘ 28.05 0.0%
34 Julius Berger Nigeria PLC 0.3% 0.2% 0.2% 17.3% 1.8% 7.8x 1.2x 3.6% 12.9%
35 Sterling Bank PLC 1.65 -0.6% 0.3% 52.8% 46.0% 9.0% 0.9% 4.9x 0.5x 1.2% 20.2%
ϯ͘ϳй ĂŶĚ ϲ͘ϳй ƚŽ ϯϯϮ͘ϳŵ ƵŶŝƚƐ ĂŶĚ Eϱ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ǁĞĞŬ͛Ɛ ƚŽƉ ƚƌĂĚĞĚ
ƐƚŽĐŬ ďLJ ǀŽůƵŵĞ ĂƌĞ h ;Ϯϭϳ͘ϬŵͿ͕ DE&/d ;ϭϯϮ͘ϱŵͿ ĂŶĚ ^^ ;ϭϬϴ͘ϰŵͿ 36 Dangote Flour Mills Plc 11.40 -0.4% 0.2% -6.2% -6.2% 61.6% 15.8% 3.7x 1.6x 1.8% 27.1%
ǁŚŝůĞE'D;Eϯ͘ϲďŶͿ͕'hZEdz;EϮ͘ϴďŶͿĂŶĚh;EϮ͘ϱďŶͿ ǁĞƌĞƚŚĞƚŽƉ 37 GlaxoSmithKline Consumer Niger 24.00 0.0% 0.2% 11.1% 11.1% 61.2% 23.6% 37.9x 1.8x 31.4% 2.6%
ƚƌĂĚĞĚďLJǀĂůƵĞ͘ 38.75 0.0%
38 Chemical and Allied Products P 0.2% 14.0% 8.5% 66.2% 30.2% 18.1x 12.1x 5.3% 5.5%
dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƐƚĂƌƚĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ͕ ĞdžƚĞŶĚŝŶŐ ŐĂŝŶƐ ĨƌŽŵ ƚŚĞ 39 Beta Glass PLC 83.20 5.0% 0.2% 62.2% 62.2% 18.4% 11.9% 11.7x 2.0x 1.3% 8.5%
ƉƌĞǀŝŽƵƐ &ƌŝĚĂLJ ĂƐ ƚŚĞ ^/ ƌŽƐĞ ϲďƉƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ Ͳ 40 Transcorp Hotels Plc 7.45 0.0% 0.1% 3.3% 3.3% 5.3% 2.9% 19.5x 1.0x 1.8% 5.1%
T o p 10 G a ine r s T o p 10 T r a d e s b y V o l u m e
ŐĂŝŶƐŝŶhE͕ϭϭW>ĂŶĚh͘,ŽǁĞǀĞƌ͕ŽŶdŚƵƌƐĚĂLJ͕ƚŚĞďƵůůŝƐŚƌƵŶǁĂƐŚĂůƚĞĚ T ic k er P ric e P ric e C hg % T ic k er Vo lum e P ric e C hg %



VER IT A SKA P 0.33 6.5% ST ER LN B A N K 25.2 -0.6%

ŽƵƌ ĐŽǀĞƌĂŐĞ ĚĞĐůŝŶĞĚ tͲŽͲt͘ dŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ĚĞĐůŝŶĞĚ ƚŚĞ ŵŽƐƚ͕ LIVEST OC K 0.84 5.0% UB A 17.1 -0.4%

ĚŽǁŶ ϭ͘ϵй tͲŽͲt ĚƵĞ ƚŽ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ E^d> ;Ͳϭ͘ϮйͿ ĂŶĚ E/'Z/E B ET A GLA S 83.20 5.0% F ID ELIT YB K 14.2 -3.6%
ZtZ/^;ͲϬ͘ϴйͿ͘^ŝŵŝůĂƌůLJ͕ƚŚĞKŝůΘ'ĂƐĂŶĚ/ŶƐƵƌĂŶĐĞŝŶĚŝĐĞƐƐŚĞĚϭ͘ϰйĂŶĚ N A SC ON 21.40 4.4% FB NH 12.4 0.4%
ϭ͘ϭй ĚƌŝǀĞŶ ďLJ ůŽƐƐĞƐ ŝŶ ^W>d ;ͲϮ͘ϬйͿ͕ ED ;Ͳϭ͘ϴйͿ ĂŶĚ //K ;Ͳϭ͘ϰйͿ͘ KŶ ƚŚĞ UN IT YB N K 1.20 4.3% C UST OD IA N 12.3 -2.8%
ŇŝƉ ƐŝĚĞ͕ ŐĂŝŶƐ ŝŶ 'hZEdz ;нϮ͘ϬйͿ͕ h ;нϬ͘ϵйͿ ĂŶĚ E'D ;нϬ͘ϮйͿ
M B EN EF IT 0.26 4.0% Z EN IT H B A N K 11.8 -0.5%
WA P IC 0.53 3.9% SKYEB A N K 11.5 1.2%
A GLEVEN T 0.57 3.6% FCM B 11.2 1.6%
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϭ͘ϭdž ;ϯϱ T o p 10 L o s e r s T o p 10 T r a d e s b y V a l u e
T ic k er P ric e P ric e C hg % T ic k er Value P ric e C hg %
ƐƚŽĐŬƐ ƚŚŝƐ ǁĞĞŬ ǁĞƌĞ />^/E' ;нϮϵ͘ϱйͿ͕ hE/dz ;нϮϬ͘ϬйͿ ĂŶĚ EE ;нϭϵ͘ϱйͿ
M OB IL 180.40 -5.0% D A N GC EM 1230.7 0.1%
ǁŚŝůĞ E'&>KhZ ;Ͳϭϴ͘ϲйͿ͕ dZE ;Ͳϭϯ͘ϬйͿ ĂŶĚ WZ^d/' ;Ͳϭϭ͘ϴйͿ ǁĞƌĞ ƚŚĞ
CHA M S 0.42 -4.5% A C C ESS 460.0 0.0%
ĂŶĐŚŽƌĞĚ ŽŶ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ ůĂƌŐĞ ĂŶĚ ŵŝĚͲĐĂƉ ƐƚŽĐŬƐ ĨŽůůŽǁŝŶŐ ůĂƌŐĞůLJ ƉŽƐŝƟǀĞ C ON T IN SUR E 1.52 -4.4% Z EN IT H B A N K 325.2 -0.5%
Yϭ͗ϮϬϭϴ ĞĂƌŶŝŶŐƐ͘ ,ŽǁĞǀĞƌ͕ ǁĞ ĚŽ ŶŽƚ ƌƵůĞ ŽƵƚ ƚŚĞ ƉŽƐƐŝďŝůŝƚLJ ŽĨ ƉƌŽĮƚ ƚĂŬŝŶŐ P R EST IGE 0.45 -4.3% ST A N B IC 260.3 0.0%
A B CTRA NS 0.46 -4.2% UB A 199.6 -0.4%

OA N D O 8.35 -4.0% GUIN N ESS 195.2 0.5%

ET ER N A 5.74 -3.7% FB NH 155.6 0.4%

F ID ELIT YB K 2.42 -3.6% WA P C O 145.7 0.0%

N IGER IN S 0.28 -3.4% IN T B R EW 133.3 9.1%

WEM A B A N K 0.88 -3.3% GUA R A N T Y 127.6 0.2%


    ˾  MONDAY, MAY 7, 2018 37

Vetiva Distributes N23 Per Unit to DV Balanced Fund Investors
Goddy Egene Speaking on the distribution, by holding an appropriate levels, decent money market business as fund/portfolio (NSE).
the Director, Asset Management allocation of the Fund’s assets rates and the stability in foreign manager. Vetiva also manages According to the company
Vetiva Fund Managers Limited of Vetiva Fund Managers in fixed income instruments. exchange liquidity. a series of Exchange Traded the introduction of the mobile
has announced a final Limited, Mrs. Oyelade Eigbe, The fund is targeted towards Vetiva Fund Managers Funds, namely the Vetiva App is in line with its strategy
distribution of N23.00 per unit said: “The distributions are in prudent investors with medium Limited advised unitholders Banking ETF, Vetiva Consumer to invest in technology that
of the DV Balanced Fund for line with the structure of the risk appetite who wish to to update (where necessary) Goods ETF, Vetiva Industrial enhances retail investor access
the year ended 31st December fund to remit distributions to achieve capital appreciation their bank account details Goods ETF, Vetiva Griffin 30 to the Nigerian stock market in
2017. This will be the fourth unit holders annually.” over time and require the with the Registrar, First ETF and Vetiva S&P Nigerian a convenient and cost effective
distribution made by the DV According to her, the fund manager’s professional Registrars Investors Services, Sovereign Bond ETF. manner.
Balanced Fund since its launch fund employs an asset mix asset allocation decisions and to enable electronic transfers Vetiva Securities Limited The key features of the
in August 2014. strategy which aims to achieve management,” she added. to qualifying unitholders. recently launch of Griffin mobile APP are the ability
The DV Balanced Fund is an consistent growth primarily The fund returned 30 per Vetiva Fund Managers Mobile, a mobile App which to trade stocks on the NSE,
open-ended unit trust scheme, from a well-diversified cent growth in 2017 largely Limited is a subsidiary of enables individual investors invest in treasury bills, view
which seeks to invest in a range portfolio. supported by the stability in Vetiva Capital Management to manage their stockbroking snapshots of stock prices,
of securities, including quoted “The asset mix also seeks to the macro-environment-that Limited and is registered with accounts on their smartphones view portfolio valuations
equities, fixed income securities mitigate volatility associated is the rebound in global oil the Securities & Exchange and execute trades directly on and processing of account
and money market instruments. with Nigerian equities market prices and domestic production Commission to carry on the Nigerian Stock Exchange withdrawals.

A Mutual fund (Unit Trust) is an investment floor 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 03-May-2018, unless otherwise stated. assets held by a REIT on a specific date.


AFRINVEST ASSET MANAGEMENT LTD Web:; Tel: +234 1-291 4626 / +234 1-291 4624
Web:; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.18 1.20 3.06%
Afrinvest Equity Fund 194.21 195.38 9.39% Lotus Halal Fixed Income Fund 1,051.95 1,051.95 4.43%
Nigeria International Debt Fund 245.02 246.23 6.17% MERISTEM WEALTH MANAGEMENT LTD
Web:, Tel: +234 1 291 2406, +234 1 291 2868 Web: ; Tel: +234 1-4488260
Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn
ACAP Canary Growth Fund 0.87 0.88 5.72% Meristem Equity Market Fund N/A N/A N/A
ACAP Income Funds 0.66 0.66 9.57% Meristem Money Market Fund N/A N/A N/A
Web:, Tel: +234-1-2792974 Web:; Tel: +234 1 271 8632
Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn
AIICO Money Market Fund 100.00 100.00 13.80%
Web:; Tel: 0700 CALLARM (0700 225 5276) PACAM Fixed Income Fund N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Money Market Fund N/A N/A N/A
ARM Aggressive Growth Fund N/A N/A N/A SCM CAPITAL LIMITED
ARM Discovery Fund N/A N/A N/A Web:; Tel: +234 1-280 2226,+234 1- 280 2227
ARM Ethical Fund N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn
ARM Money Market Fund N/A N/A N/A
AXA MANSARD INVESTMENTS LIMITED SCM Capital Frontier Fund 132.10 134.66 2.66%
Web:; Tel: +2341-4488482 SFS CAPITAL NIGERIA LTD
Fund Name Bid Price Offer Price Yield / T-Rtn Web:, Tel: +234 (01) 2801400
AXA Mansard Equity Income Fund 160.56 161.69 5.85% Fund Name Bid Price Offer Price Yield / T-Rtn
AXA Mansard Money Market Fund 1.00 1.00 12.86% SFS Fixed Income Fund 1.56 1.56 5.24%
Web:, Tel: +234 461 0691 Web:; 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
Chapelhill Denham Money Market Fund 100.00 100.00 13.91% Stanbic IBTC Balanced Fund 2,404.14 2,424.90 7.20%
Paramount Equity Fund 12.12 12.43 9.31% Stanbic IBTC Bond Fund 185.37 185.37 5.06%
Women's Investment Fund 103.43 106.07 2.78% Stanbic IBTC Ethical Fund 1.09 1.10 8.42%
CORDROS ASSET MANAGEMENT LIMITED Stanbic IBTC Guaranteed Investment Fund 233.31 233.38 5.95%
Web:, Tel: 019036947 Stanbic IBTC Iman Fund 187.92 189.92 4.90%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund 100.00 100.00 13.42%
Cordros Money Market Fund 100.00 100.00 14.02% Stanbic IBTC Nigerian Equity Fund 10,367.97 10,507.75 7.21%
Fund Name Bid Price Offer Price Yield / T-Rtn Web:; Tel: +234 803 306 2887
Coronation Money Market Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
Coronation Balanced Fund N/A N/A N/A United Capital Balanced Fund 1.35 1.36 0.76%
Coronation Fixed Income Fund N/A N/A N/A United Capital Bond Fund 1.65 1.65 5.63%
FBNQUEST ASSET MANAGEMENT LTD United Capital Equity Fund 0.98 1.00 7.47%
Web:; Tel: +234-81 0082 0082 United Capital Money Market Fund 1.00 1.00 13.02%
Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Eurobond Fund 105.56 105.56 2.59%
FBN Fixed Income Fund N/A N/A N/A United Capital Wealth for Women Fund 1.14 1.15 4.79%
FBN Money Market Fund N/A N/A N/A Web:; Tel: +234 1-2784219
FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A Zenith Equity Fund 13.47 13.68 7.31%
FBN Nigeria Smart Beta Equity Fund N/A N/A N/A Zenith Ethical Fund 20.03 20.03 49.96%
FIRST CITY ASSET MANAGEMENT LTD Zenith Income Fund 13.96 14.13 -25.49%
Web:; Tel: +234 1 462 2596 Zenith Money Market Fund 1.00 1.00 14.07%
Fund Name Bid Price Offer Price Yield / T-Rtn
Legacy Equity Fund 1.41 1.44 8.04% REITS
Legacy Debt Fund 3.02 3.02 4.58% Fund Name NAV Per Share Yield / T-Rtn
FSDH ASSET MANAGEMENT LTD FSDH UPDC Real Estate Investment Fund 10.00 -11.35%
Web:; Tel: 01-270 4884-5; 01-280 9740-1 SFS Skye Shelter Fund 134.83 1.79%
Fund Name Bid Price Offer Price Yield / T-Rtn
Coral Income Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
GREENWICH ASSET MANAGEMENT LIMITED Lotus Halal Equity Exchange Traded Fund 12.67 12.77 4.50%
Web: ; Tel: +234 1 4619261-2 SIAML Pension ETF 40 162.32 165.73 13.63%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC ETF 30 Fund 120.36 122.56 10.15%
Greenwich Plus Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD
Web:; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund N/A N/A N/A
Abacus Money Market Fund 1.00 1.00 13.01% Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A
Vantage Balanced Fund 2.21 2.24 4.82% Vetiva Griffin 30 Exchange Traded Fund N/A N/A N/A
Vantage Guaranteed Income Fund 1.00 1.00 15.64% Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A
Kedari Investment Fund (KIF) 120.22 120.64 4.55% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A

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 Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
T H I S D AY ˾˜͵˜ͰͮͯͶ 39


As a matter of fact, we recorded only

one third party death last year which is
a significant improvement from what we
recorded previous years,” he explained.
Meanwhile, before the distribution of
the mosquito nets, members of the com-
munity who had large stock of grievances
over poor services, seized the moment to
ventilate them. The team who obviously,
had anticipated such complaints before the
trip, swiftly responded to all issues raised
and assured them that all issues concerned
were being taken care of.
The Manager in charge of Adiyan Un-
dertaking, Abule-Egba Business Unit, Mr.
Johnson Isuh, who addressed the receptive
audience, explained the cause of the problem
to them and efforts being made to rectify
He urged the members of the community
to cooperate with the organisation by paying
their bills as at when due, noting that that
would enable them to have the needed
fund to generate and give them power.
In their overwhelming joy and feeling
of relief, members of the community who
received the mosquito nets glowingly ap-
preciated the company for their kind gesture. L-R: External Communications Coordinator, Abule-Egba Business Unit,Ikeja Electric, Ijeoma Ezeolisah; Chairman, Customers Consultativs Forum, Adiyan Com-
Earlier in his welcome remark, Chair- munity, Mr. Tayo Adesokan; Commercial Manager,Abule-Egba Business Unit, Ikeja Electric, Mr. Oyewole Oyeleye; andChairman, Community Development Com-
man, Customers Consultative Forum and mittee, Adiyan; Pastor Moses Adeleke, during the distribution of mosquito nets to residents of Adiyan Community, Lagos State, in commemoration of the 2018
chieftain of Adiyan Community Development World Malaria Day…recently
Council, Mr. Tayo Adesokan, described the
distribution of the nets as a commendable
one and thanked them for selecting the
community for its intervention.
“We welcome you to our community. We
were informed that you would be coming
here today to create awareness on the
malaria disease and its prevention as a
way of commemorating the World Malaria
Day which was celebrated yesterday (April
25),” Adesokan said.
“We really appreciate your coming and
we’re particularly delighted to hear that
you will be distributing free anti-malaria
treated nets to our people. This is highly
commendable. We the people of Adiyan
express our heartfelt appreciation to the
management and staff of Ikeja Electric for
demonstrating high sense of responsibility
and kind gesture in selecting our Com-
munity Development Council (CDC) as a
beneficiary of this programme. We’re now
assuring your management of our forum’s
continued support in terms of payment of
bills and bringing in unity in our CDC,”
he added.
Also expressing her joy and appreciation,
Mrs. Felicia Olarewaju, said: “I’m very happy Oyeleye (middle) and other members of the IKEDC team presenting mosquito net to a kid from Adiyan, at the event
about what Ikeja Electric has done for us
today. They gave us free mosquito nets
and they advised us on how we can kick
malaria out of our community. These nets
will help us a lot because mosquitoes bite us
a lot here. So I really thank them for this.”
She added: “Although we don’t have
light for some weeks now, but as they have
explained to us what they are doing to
address the situation we are hoping that
they will make good their promise. And
we’re also promising them that we will be
paying our bills as long as they give us

Although we don’t have

light for some weeks now,
but as they have explained
to us what they are doing
to address the situation we
are hoping that they will
make good their promise.
And we’re also promising
them that we will be
paying our bills as long
as they give us light. So, A cross section of participants at the event
I pray that God will give
them all the resources they light. So, I pray that God will give them Community Development Authority, one our community mosquito treated net. What
need to make sure that we all the resources they need to make sure of the communities under Adiyan, Mr. Alaba they did today is really a surprise and we
that we enjoy light.” Ajayi, said: “I use this opportunity to thank pray that God Almighty will make the
enjoy light On his part, the Secretary of Ireakari Ikeja Electric for giving every member of company grow.”
40 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 41
42 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 43
44 T H I S D AY ˾ ͵˜ͰͮͯͶ
T H I S D AY MONDAY MAY 7, 2018 45
46 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 47
48 T H I S D AY MONDAY MAY 7, 2018

Receivership on Properties Belonging
to Borini Prono & Company Limited
This is to notify members of the public that:
A. Pursuant to two separate Deeds of Legal Mortgage registered as No. 82,
at page 82, in volume 2032 at the Lagos State Lands Registry, Alausa, Ikeja,
Lagos, and No 90, at page 90, in volume 2032 at the Lagos State Lands
Registry, Alausa, Ikeja, Lagos respectively, which Deeds were executed
in favour of Guaranty Trust Bank Plc (“the Bank”) by Borini Prono And
Company Limited, in respect of credit facilities granted by the bank to
Borini Prono And Company Limited; and
B. By virtue of a duly Registered Deed of Appointment, Guaranty Trust Bank
Plc as mortgagee, on the 20th day of December 2017 and 16th February
2018, appointed Mr. Gani Gidado Abubakar Esq as Receiver of the block
of Flats known as No. 32 Gerrard Road, Ikoyi, Lagos and No. 4 Forcados
Road, Apapa, Lagos.
As such, the Receiver who has since taken physical possession of the
mortgaged properties pursuant to the Order of court in suit NO: FHC/L/
CS/348/2018 confirming the said appointment, is the only person vested
with lawful authority to deal with and/or grant any lease concerning or
relating to the flats and/or premises that constitute the said properties.
The Receiver will take no responsibility for any loss arising from failure to
heed this warning.
Gani Gidado Abubakar
(Solicitors and Insolvency Practitioners)
160A Sinari Daranijo Street,
Off Ligali Ayorinde Street,
Victoria Island,
Lagos State
Tel: 01-2711069; 01-2711329
08030693999, 08055446638
T H I S D AY MONDAY MAY 7, 2018 49

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‡˜‡Ž‘’‡–—–Š‘”‹–›ȋ Ȍ™‹•Š‡•–‘




50 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 51
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54 T H I S D AY MONDAY MAY 7, 2018
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56 MONDAY, MAY 7, 2018˾T H I S D AY


Iran’s Rouhani Warns Trump of ‘Historic

Regret’ over Nuclear Deal
Says plans in place for any Trump decision on nuclear deal
Iranian President Hassan May deadline. Washington on Sunday to nuclear deal, this will entail in breach of the agreement. limits Iran’s nuclear activities
Rouhani has warned that the Trump has strongly criticised discuss the matter with White historic regret for it.” Iran branded Israeli Prime for a fixed period and does
US will face “historic regret” the agreement, calling it House officials. He warned Iran had “a Minister Benjamin Netanyahu not stop the development of
if Donald Trump scraps the “insane”. The UN also warned Mr plan to counter any decision a liar and said the documents ballistic missiles.
nuclear agreement with Tehran, The 2015 deal - between Trump not to walk away from Trump may take and we will he produced were a rehash of He also said it had handed
according to BBC. Iran, the US, China, Russia, the deal. confront it”. old allegations already dealt Iran a $100bn (£72bn) windfall
Rouhani was reported by Germany, France and the However, he has threatened Iran insists its nuclear with by the International that it used “as a slush fund
Reuters as saying on Sunday UK - lifted sanctions on Iran that the US will “withdraw” programme is entirely peaceful Atomic Energy Agency (IAEA), for weapons, terror, and op-
Iran had plans to respond to in return for curbs on its nuclear from the deal on 12 May - and says it considers the deal the UN’s nuclear watchdog. pression” across the Middle
any move by U.S. President programme. the end of a 120-day review non-renegotiable. But US Secretary of State East.
Donald Trump on the 2015 France, the UK and Germany period - unless Congress and Last week, Israel revealed Mike Pompeo said the Economic assets frozen
nuclear agreement and the have been trying persuade the European powers fixed its “secret nuclear files” which it documents were authentic by sanctions were returned
United States would regret US president that the current “disastrous flaws”. said showed Iran had run a and showed the 2015 Iran to Iran under the terms
a decision to exit the accord. deal is the best way to stop Iran In remarks carried live on clandestine nuclear weapons nuclear deal was “built on of the deal. Iran has
His comments come as the developing nuclear weapons. Iranian state television on programme before 2003, and lies”. consistently denied US
US president decides whether British Foreign Secretary Sunday, President Rouhani had secretly retained the Trump is already unhappy claims that it sponsors
to pull out of the deal by a 12 Boris Johnson is travelling to said: “If America leaves the technological know-how, that the current deal only militant groups.
MONDAY, MAY 7, 2018˾T H I S D AY 57

NEWS ÏáÝÎÓÞÙÜDavidson Iriekpen

×ËÓÖ, 08111813081

Quest to Visit Lagos by British

Tourists Rises by 96%
Ranked 13th most visited non-European destination 
Gboyega Akinsanmi Kenya, respectively rose by 156 the state’s GDP in 2017, thereby rankings in popularity (judged demand, with Chennai up 57 that has seen its popularity
per cent and 181 per cent, the representing 0.016 percent of by searches) from 48th in 2017 per cent and Mumbai up 30 increase the most for this
The demand to spend summer report ranked the former 15th the GDP. to 15th in 2018. Demand for per cent.” summer compared to last year
holidays in Lagos State by British non-European destination for With the state’s increased trips to Mombasa have nearly When it comes to Europe, is Bucharest in Romania, which
tourists and visitors has risen Britons, two steps behind the spending on iconic infrastructure tripled in just one year,” the the report said the two biggest has jumped from 46th place to
by 96 per cent between 2017 city-state of Lagos.   and resources being deployed in KAYAK report disclosed. trends for this summer “are the 15th thanks to a huge increase
and 2018, according to a report In an analysis that sampled the sector, the governor hoped According to the report, it is resurgence of Turkey and the in demand of 125 per cent.
by KAYAK, one of the world’s the 2017 summer holiday that the figure “will  double or now Britain’s 44th most popular increasing popularity of Eastern Also in Eastern Europe, the
foremost travel organisations. searches, the report said treble in the next five years. international holiday destination Europe. report revealed that Tirana, the
KAYAK, an independently Lagos “is not far behind by all “The enormous resources we for this summer - just behind “Istanbul has seen demand Albanian capital, “has seen
managed subsidiary of Booking standards. Searches for trips to have deployed in physical and Cape Town - having previously increase by 114 per cent this demand soar by 76 per cent,
Holdings Inc, issued the report at the city-state of Lagos city have social infrastructure across the not featured close to the top 100. summer compared to last moving up to 17th from 41. The
the weekend covering searches shot up 96 per cent, compared state will begin to crystallise by The report noted that the year, rising from the 29th most strongest demand at Kayak.
made by British tourists and to 2017.” December into mega structures top three most popular non- popular European destination overall this summer in
visitors for holidays beyond When compared to previous that will support tourism and European destinations for Brits to eighth. Europe has been for traditional
Europe in the last two years.  summers, the report said Lagos market our state as a smart “are New York, then Orlando “Meanwhile, Antalya in favourites Alicante, followed
Specifically, the report ranked “has also made huge strides, destination.” and in third place is Colombo Turkey has seen demand by Malaga and Faro.
Lagos, a widely acknowledged moving from 31st place to In the case of Kenya, however, in Sri Lanka, with its tourism increase by 92 per cent, “The destinations that are
model megacity, 13th non- 13th when it comes to overall the report revealed that Britons boom continuing after decades climbing to 19th place, having falling out of favour include
European destination, thereby demand. And Johannesburg is chose to spend holidays beyond of civil war. previously been out of the Ibiza (down 42 per cent),
making the city-state Africa’s up one place from 22nd to 21st.” the continent in July and August “Manila in the Philippines, top 50. Bodrum, on Turkey’s Prague (down 42 per cent),
choicest destination, especially The ranking of Lagos might 2017, noting that the demands meanwhile, has also stormed Southwest coast, has seen its Los Angeles (down 32 per
for British tourists and visitors. not be unconnected with a recent for trips to Nairobi “are up 156 into the top 10 and is now the demand increase by 45 per cent), San Francisco (down 35
Unlike previous years, as the survey that showed a significant per cent - and to Mombasa on sixth most popular international cent, placing it 39th overall,” per cent), Las Vegas (down 40
report analysed, Lagos is more improvement in what tourism the Kenyan coast by 181 per holiday destination, with a year- the report said. per cent), Chicago (down 33
popular than Los Angeles, Las sector contributed to the state’s cent. on-year increase of 69 per cent. However, according to the per cent) and Boston (down
Vegas, San Francisco, Chicago, gross domestic product (GDP) “Nairobi had shot up the India also saw solid gains in report, the European destination 45 per cent).”
Boston, Ibiza and Prague, all in 2017.
of which had drastically fallen At a summit fortnights ago,
out of tourists’ favour. the state Governor, Akinwunmi
However, tourists’ demand Ambode, disclosed that tourism
to spend summer holidays in sector contributed $2.2 billion
Nairobi and Mombasa, both in (equivalent to N800 billion) to

I Have No Plan to Dump

APC, Ortom Restates
Governor Samuel Ortom of of the efforts being made by
Benue State has again denied President Muhammadu Buhari
any plan to dump the All in ending the conflicts in the
Progressives Congress (APC). state.
The denial was contained According to the statement,
in a statement by his Chief the governor was fully aware
Press Secretary, Mr. Terver that the killings in Benue State
Akase, issued to journalists began during the past PDP-led
in Makurdi. administrations in the state.
It said a media report on ”It must be noted that the
the governor’s purported plan killings predate the APC
to leave the APC was false, as a party and the present
misleading and  handiwork administration. The governor’s
of detractors playing politics focus is on solving the problem
with the blood of the people. in collaboration with other
”We read a report in stakeholders.”
a national daily of today It added: “Fortunately,
(yesterday) which named Benue President Buhari has responded UNWINDING
State Governor, Ortom as one positively by sending troops L-R: Ogun State Governor, Senator Ibikunle Amosun, his wife, Olufunso; Minister of Finance, Mrs. Kemi Adeosun; and Senator Daisy
of the APC leaders planning to and other security operatives to Danjuma, at the day-two of Lagos Bridal Fashion week 2018 in Lagos....weekend
defect to another political party. chase away the armed militia
”The report which is from Benue communities.”
obviously sponsored is not only
false but also misleading. The
The statement further
dismissed insinuations that
Ishaku Differs with Buhari, Says Herdsmen are
governor has no intention to
leave APC for another party
and has not consulted anyone
Ortom had fallen out of favour
with other leaders of APC in
the state, including Senator
on the matter.” George Akume. Paul Obi ÓØÌßÔË President, Donald Trump, health care facilities, much more the three senatorial zones of the
The statement stressed that “The report is aimed at that the Fulani herdsmen that than we anticipated and we have state and we are putting some
Ortom, enjoys a cordial working creating acrimony between Taraba State Governor, Darius he knew did not carry guns, almost 150,000 displaced persons of the local government unit in
relationship with other leaders the governor and the senator. Ishaku, yesterday differed with blaming the killings on returning “In the North-east, Taraba shape. Most importantly, we are
of the party both at the local, “Ortom was popularly President Muhammadu Buhari militia who had been armed by State used to be   relatively equipping them as much as we
state and national levels. elected to lead Benue State on the statement that herdsmen the late Libyan leader, Mummar peaceful before now. We are can with modern equipment. 
It said the main focus of the and he has demonstrated do not carry guns.  Gadaffi having our own share of the “So I’m surprised that the
governor is to deliver greater uncommon commitment Ishaku spoke in Abuja when Ishaku observed that herdsmen problem and that has NMA has noticed so quickly
benefits of democracy to his and selflessness in justifying he received an award from the there must have been some added a lot of pressure on our what we are doing in just three
people including tackling the the confidence reposed in him. Nigerian Medical Association contradiction, wondering if they health services. Which means years. We thank God and we
security challenges confronting “He, will therefore, not be (NMA) in Abuja on health care don’t carry arms as claimed by we have to do more, we have will do more to keep our people
them. distracted by baseless reports service delivery. the president, then who are the to employ more doctors, nurses healthy. Health is wealth,” he
“There is no cause to warrant and rumour of defection. The governor explained that ones brandishing AK47 rifles and specialists.” said. 
his defection to another party,” ”What is of greater concern due to the continuing attacks and killing locals.  Speaking on the NMA The governor alongside two of
the statement stated. to the governor now is how to by Fulani herdsmen, the health Ishaku contended that Buhari’s award, Ishaku said it would his counterparts, Governor Aminu
It explained that Ortom’s stop the killings in the state and sector in the state has been statement was “absolutely not only motivate him and his Tambuwal of Sokoto State and
stance of seeking justice over also tackle the humanitarian affected negatively. correct.” administration to do more.  Ibrahim Gaidam of Yobe State,
the invasion, killings and crisis that has displaced nearly Ishiaku maintained that “I mean who kills who? They “This award is very elevating, were among the dignitaries who
wanton destruction of property 500,000 people.’’ herdsmen carry arms and not cannot be imaginary. People are it is an award that will spur us received the awards.
by suspected herdsmen was It stated that the government sticks as the president would being killed with AK 47 rifles to do more. You know we are Also, the wife of Kebbi State
what any good leader ought was collaborating with the want the whole world to believe. and we have to stand up and on our first term, and this is Governor, Dr. Zainab Shinkafi-
to do. federal government on the Buhari had told his American do something to stop it. my third year in office. Bagudu, received the NMA award
The statement said the rehabilitation and resettlement audience during the bilateral “The insecurity has certainly “We are reconstructing or for her contribution to health care
governor was appreciative of the displaced persons. talks with United States put a lots of pressure on our rehabilitating three hospitals in service delivery. 
58 MONDAY, MAY 7, 2018˾T H I S D AY


Don’t Turn to Propaganda Poster Boy, PDP

Tells Osinbajo
Says Buhari’s Second term will further divide, impoverish Nigerians
Secondus: EFCC out to tarnish my name
Onyebuchi EzigboÓØÌßÔË propaganda, deception, impunity various parts of our country,” attempting to sway Nigerians the benefit of the people in mediocrity in governance;
and sleazes that not only brought it added. with cosmetic patriotism.  the last three years. de-marketing Nigeria at
The  Peoples Democratic Party their administration to power, Also, the PDP said if President “What President Buhari’s “President Buhari’s second international fora and to blame
(PDP) has asked Vice-President but have become its trademarks Buhari is allowed  by Nigerians handlers fail to understand term agenda is directly a quest everyone else but himself for
Yemi Osinbajo  not to belittle in the last three years,” it said. to come back after a horrible is that Nigerians, being to continue to enrich the manifest incapacity to govern.
his high office by allowing PDP said Nigerians should first term, he will further divide direct victims of his misrule, presidency cabal, promote Meanwhile, the Chairman of
himself to be used as poster note that all assertions by and impoverish the people. are aware that the harsh nepotism and protect cronies the party, Uche Secondus, has
boy to bandy figures and make the vice president, especially The opposition party said and reckless policies of his and corrupt members of the frowned at the  action of the
unsubstantiated statements on the performance of the President Buhari’s first term incompetent administration, APC from the long arms of Economic and Financial Crimes
against the opposition. President Muhammadu Buhari score card showed anti-people coupled with his body the law. Commission (EFCC) which he
PDP in a statement issued administration as well as his policies and failure to serve the language, are expressly “President Buhari’s second said has continued to link him
yesterday by its National allegations and bandying of good of the ordinary citizens, responsible for the untold term is also a quest to continue to have collected money from
Publicity Secretary, Kola figures against the opposition, contrary to what he would economic hardship, ethnic to ignore and destroy democratic the former National Security
Ologbondiyan, said Nigerians, have remained unsubstantiated.  want Nigerians to believe when division and daily bloodletting principles; to continue trampling Adviser (NSA),  Col. Sambo
particularly the younger The party further said he spoke at the All Progressives currently ravaging our nation,” on the rights of citizens and Dasuki (rtd), when the matter 
generation, were thoroughly Osinbajo, in his ‘sanctimony,’ Congress (APC) ward congress it said. persecution of opposition and is already before the court.
disappointed in Osinbajo for has been silent on the exposed in Daura, Katsina State last According to the PDP, if perceived political opponents; Secondus in  a letter sent
allowing himself to be used corruption under the Buhari Saturday. indeed the president was to continue the derailing of to the acting Chairman of the 
to divert attention “from the administration, including the It said it was unfortunate out to serve, as he claimed democracy with manifest EFCC, Mr. Ibrahim Magu,
impunity and corruption that leaked memo detailing N9 that the same President, who, at the APC congress, he should disdain for constitutional complained bitterly of the
saturate the All Progressive trillion corrupt oil contracts in an interview with Voice of show any of his 2015 campaign order; to continue with the continued linking of his name 
Congress APC-led federal at the NNPC, exposed sleazes America (VOA) last week, promises that he has fulfilled intimidation and harassment with collecting money from
government.” in oil subsidy deals, diversion could not present any agenda or any development project of the legislature and the Dasuki when nothing of such
While reacting to the of Internally Displaces Persons to justify his re-election bid, is initiated and implemented to judiciary; perpetuation of ever happened.
comments made by the vice (IDP) intervention funds.
president at the APC ward According to the PDP, other 
congress in Lagos, PDP  said alleged sleazes under APC
as a professor of law, and an watch include the probe of a
occupant of the exalted seat of misappropriated N18billion
the vice president of the country, in National Emergency
Osinbajo should know better Management Agency (NEMA)
than allowing himself to be under his direct supervision
used to bandy figures and as well as other looting in
make unguarded statements government agencies such as
at public events. the National Health Insurance
“We note that the vice Scheme (NHIS).
president has refused to heed “The vice president is also
wise counsel and accord respect ominously silent about the
to his office by desisting from prevailing high-handedness
such unguarded comments and human rights violations and
only because he has been the aloofness of the government
sucked in and entangled in the resulting in daily bloodletting in

Herdsmen-Farmers’ Clash:
Okowa Makes Case for
Delta State Governor, Dr. Ifeanyi which will criminalise ‘deve’
Okowa, has said ranching will (extortion) by youths and
put to a stop clashes between anyone who is found guilty
Fulani herdsmen and farmers will go to jail,” the governor
in the country. stated, adding that, “any one PEER REVIEW VISIT
He made the suggestion who is caught causing trouble, Group Managing Director/CEO, Access Bank Plc, Mr. Herbert Wigwe (left); and Managing Director/CEO, Development Bank of Nigeria
yesterday at the third session no matter how highly placed Plc., Mr. Tony Okpanachi, during a courtesy visit by the Access Bank team to Headquarters of Development Bank in Abuja...recently
of the 12th Synod of the Diocese you are or who your sponsors
of Warri, Anglican Communion, are, will face the wrath of the
held at St. Peter’s Anglican law, we like the peace we are Rights Group Frowns at Arbitrary Arrest, Detention of
Church, Ekpan, Uvwie Local enjoying in the state.”
Government Area of Delta State.
According to the governor,
The governor also called for
collective efforts to ensure clean
Melaye’s Security Detail 
“Herdsmen/farmers clash is a environment, observing that Yekini Jimoh ÓØ ÙÕÙÔË Dino Melaye.   “He was denied completely down on Melaye and every
national problem, as a state, we while it is the duty of local “Melaye’s orderly and the access to his family and to be establishment around him
are trying to bring the casualties government councils to ensure The National Coordinator Justice policemen that were with him his wife. This is a total mockery under a supposed democratic
to the barest minimum, as a clean council areas, it was the and Freedom Watch, Chief Segun have been held in custody since of our rule of law, human rights government.  
country, we must go into duty of all Deltans to dispose Owoeye, has frowned at the April 23, 2018, on the others and constitutionalism. His words: “In view of the
ranching of our cattle. their refuse appropriately. arbitrary arrest and unlawful from above for no just reason.   “For what could they have continued detention of the
“It is our hope that necessary He lauded the theme for detention of Senator Dino “We were all aware of the done that even Melaye’s those officers, we therefore,
actions will be taken for us to the Synod, ‘Work out your Melaye’s orderly and his security brutal invasion of   Melaye’s orderly who was to have demand their immediate release
go into ranching, we cannot salvation with fear and detail by the police.  home in Abuja, where over his wedding engagement from unlawful detention camp.
continue to allow our cattle trembling,’ stating that, “our   This was contained in a 150 heavily armed fierce-looking yesterday, but police kept him   “It is unacceptable,
to be roaming around.” God is holy, our call is holy, statement issued yesterday and policemen laid siege in his home. in detention for no reason,” disgraceful and professionally
Okowa, who was it is important for us to know made available to THISDAY in In the course of this display of he stated.   deficient for police authorities
accompanied to the service that it is the one who does Lokoja.   force, a senior police officer came He said: “Up till this to detain those officer who are
by the Speaker of the state the will of the father that will According to him,  the to Melaye’s home and arrested moment, no single offence has only carrying out their official
House of Assembly, Hon. Sheriff enter His kingdom, we should continued anti-Melaye script the policemen on duty in his been communicated to them assignment without any valid
Oborevwori; state Chairman of use our lifestyle to carry out just to silence him at all cost house including his orderly to show cause of there arrest, justification or reason.  “They
the Peoples Democratic Party evangelism.” did not spare even the police  without any offence or justified no single official statement have been in detention now
(PDP), Mr. Kingsley Esiso, Earlier, the Bishop of Warri security men attached to him reason.  has been made from Police for 14 days,  Melaye’s alleged
among others, disclosed that  Diocese of the Anglican within the last two weeks and “It will interest Nigerians Force Headquarters, Abuja, offence shouldn’t have led to
machinery are in motion for any Communion,  Rt. Rev. the display of lawlessness by and the entire world to or by FCT  police command, their arrest if the police respect
one who hides under the guise Christian Ide, had commended the Nigerian Police.  know that Melaye’s orderly yet they were detained.”  the law of the land. 
of youths to extort money from the development strides of “Our attention has been was supposed to have his The national coordinator “We call on the media, civil
property developers and law Okowa’s administration while brought to the arbitrary arrest ‘wedding engagement’ added that desperation society organisations, NBA,
abiding citizens to be prosecuted Bishop Johnson Ekwe had in and unlawful detention of police yesterday, (Saturday) but has of the police under this Amnesty International, human
and jailed if found guilty. a sermon urged Christians to officers and orderly attached to been in detention since April government has demonstrated rights partners and Nigerians to
“We have sent a bill to the be prayerful not to fall into the Chairman Senate committee 23, 2018, when they arrested to  Nigerians that they once again, rise up against this
Delta State House of Assembly temptation. on FCT and Kogi West senator, him alongside other policemen. meant to frontally clamp brazen lawlessness.”
MONDAY, MAY 7, 2018˾T H I S D AY 59


Shoot Out at APC Ward Congress Meeting, Ngige

Escapes Death
Nwoye: I’ll not let minister hijack party in Anambra
Our Correspondents
The Minister of Labour and Employment, Senator Chris
Ngige, yesterday escaped death at a harmonisation
meeting of the All Progressives Congress (APC) in
Awka over the party’s ward congresses in Anambra
Ngige was whisked away by security personnel
who repeatedly shot into the air to scare members
of the party who charged at him over accusations of
plots to hijack the congresses.
However, a member of the state’s ward congress
committee, who was simply identified as Ali, was not
so lucky as he was beaten to pulp and stripped naked
over allegations that he was among those drafted to
the state to rig the congresses.
The candidate of the APC in last year’s governorship
election in the state, Dr Tony Nwoye, had accused
Sen Ngige of plotting to hijack the party in the state.
At the harmonisation meeting held to address  the
discrepancies in the party’s ward congresses, Nwoye
told Ngige that he was usurping the functions of the
congress committee by stating that ward congresses
held on Saturday when they did not.
Nwoye said he was refraining from speaking because
he might be accused of being bitter because he ran
and lost election on the platform of the party.
He said: “Some of you here worked against me
during that election, but my joy is that I lost the
election and they lost too, because they have not
risen themselves.
“We have failed as a party because we do not have
any position in Anambra, but it will not work for
people to put this party in their pocket so that they
can write election results in their houses.
“I will not let Ngige take the function of the panel. Members of the All Progressives Congress (APC) waiting to cast their votes at the party’s rescheduled ward congress at
We have a panel that is supposed to conduct that Ward 11, Ibadan South-South Local Council Development Area, Molete-Odo Oba, Ibadan...yesterday
congress, and they just came here today (Sunday),
whereas you are trying to tell us that elections have The Chairman of the congress committee, Hon Musa “As the leader and father to all, I was able to douse
been held yesterday. How can Ngige be the one to Mahmud, said his team visited three wards and saw the tension that enveloped the party secretariat on
conduct the congress when there is a committee. the exercise being conducted as arranged. Saturday when our supporters were trying to outdo
“As at 7p.m. on Saturday, people were being denied The Speaker of the state House of Assembly, Hon. one another. All the APC leaders that came for the
the forms because thy want to contest for positions, Kabiru Mijinyaw, in an interview with journalists, said stakeholders’ meeting were well protected.
and what that means is that the forms have been given the exercise was conducted in a peaceful and rancour- “I even shielded one of our honourable members from
out to those they like. We will not let that happen.” free atmosphere. the House of Representatives from reprisal attack from
Meanwhile, Ngige who took offence over what Mijinyawa expressed reservation over the attitudes those who attempted to assault him. APC is one large
he described as an attack on his person by Nwoye, of some politicians who are just creating unnecessary family. There may be diverse interests, but we are one.
explained that there was no trouble in the party, tension by misleading their supporters on the conduct “I will continue to sue for peace among our leaders and
describing it as a brotherly affair. of the exercise. followers, because that is the cardinal programme and
Ngige had also earlier explained: “We do not have A voter, Mallama Hauwa Ibrahim, who was visibly disturbed, achievement of our administration. Our party and administration
trouble here and we are here to further the cause of lamented that the exercise was not conducted in her ward are known for peace and that must be sustained.” 
the party. at Umaru Sanda ward in Yola town. The governor debunked some newspapers report, which
“People were querying the guideline given by the  Wuro Hausa said the impunity the APC is accusing the claimed that the incident at the APC secretariat was a ‘bloody
NEC of the party, and I said no. The issue was over PDP of is conspicuously in the ruling party, adding that if
zoning of positions. We said go to the ward and violence,’ describing it as exaggeration.
nothing is done to address it, they would be left with no
if anyone resigns, we replace him, because this is option but join the PDP in before the 2019 elections.
brotherly contest.” Okorocha Orders CP to Arrest Members over Missing
Some members of the party who spoke with THISDAY
on condition of anonymity, said the attack on Ngige Oyo APC Congress Peaceful, Says Ajimobi Materials
was premeditated.
“Nwoye and his people are still aggrieved over There was palpable tension and confusion for several hours Following the alleged disappearance of sensitive materials
the role played by Ngige during the governorship yesterday in Oyo State as the rescheduled ward congress of for the Saturday, May 5, Ward Congresses of the All
election where he (Nwoye) lost. the ruling All Progressives Congress (APC) failed to take-off Progressives Congress (APC) in Imo State, the governor
“They also believed that he is still working to hijack on time in many of the wards visited by journalists. Rochas Okorocha has directed the Commissioner of Police
the party and remain lord in the state. That is the By mid-day, both camps of the state Governor, Senator Abiola in the State, Mr. Chris Ezike to arrest and prosecute Mr.
main reason for the attack  on Ngige.” Ajimobi, and the Unity Forum, the estranged group within Ini Okorie and other members of the Congress Committee
the party comprising a serving Minister of Communications; arrested in connection with the missing materials to court
Adamawa APC Ward Congresses Greeted Mr. Bayo Shittu and a senator for Oyo Central and few other without further delay.
lawmakers at the federal and state levels claimed victory The governor specifically charged the Police in the
with Mixed Reactions in the areas where the exercise took place. State to set every machinery in motion for the arrest and
The All Progressives Congress (APC) ward congresses Last Saturday when the congress was supposed to hold, prosecution of the man at the centre of the alleged incident
political thugs chased away politicians from the stakeholders’ that led to the missing materials Mr. Ini Okorie for
in Adamawa State wereyesterday greeted with mixed meeting called by the Alhaji Musa Haliru-led Congress escaping with sensitive materials.
reactions as party members were divided on the conduct Committee in the state, necessitating its reschedule He equally expressed regret over the dishonourable
of the elections in the state. for yesterday. role of  some leaders of the party in the state who
But while the turn-out was very impressive, some The state governor has however, expressed satisfaction were not able to divorce their local and personal
delegates were divided. Some claimed that the congresses with the peaceful conduct of the rescheduled ward political interests. He specifically condemned the
were conducted peacefully while others protested, saying congress of the party held across the state, according role of Senator Osita Izunaso who he accused of
they never held in their places. to a statement by his Special Adviser, Communication not differentiating his official responsibilities as the
The councillor representing Nassarawo Ward, Yola and Strategy, Mr. Bolaji Tunji. National Organizing Secretary of a National Party
North Local Government Area of the state, Hon. Sadi The Secretary of the Unity Forum, Wasiu Olatubosun, from personal involvement.
Rabiu, told THISDAY that the electoral committee did also said their members statewide conducted themselves Okorocha noted that if not that he played his role as
not show up at the venue of the congress in his ward peacefully throughout the exercise, adding that “the a governor and as a father, to manage the situation, the
at the Jimeta temporary stadium. results are being collated by the congress committee. unfortunate role of those people would have thrown
According to him, as an officer of the ward with the It was successful, credible and free and fair”. the State into a very big crisis which nobody would
collaboration of the Independence National Electoral Haliru was however, not available for comment as have been in a position to imagine its outcome.
Commission (INEC) and security officers sent to monitor calls made to his mobile were not answered as at the He remarked that, for the Organising Secretary of
the conduct of the congress, he ordered that delegates time of filing this report. the Party Chief Izunaso to be arguing with Mr. Ini,
should line up at the back of their choice candidates, The governor in the statement described Saturday’s originally sent for the conduct of the congresses, over
adding that they counted the votes in the presence of disturbances at the APC state secretariat which forced who among themselves, was in custody of the congress
the delegates and some APC stakeholders who were the postponement of the congress till Sunday as one sensitive materials in question was quite despicable.
in support of the development. of those things expected in a political gathering of And it showed they never wanted the Congress to
He added that there were two contestants for the highly placed political leaders with vested interests. be successful abinitio.
chairmanship in his ward, one Allaji Sabiu Mohammed According to him, followers and supporters of such “It is also important to point out here that those
who scored 6,770 votes while Alhaji  Modibbo Usman leaders have been known to instigate crisis in their bid who never believed that APC had prospect at the
scored 1,671 votes by their counting adding that when to outdo one another and to impress their principals initial stage and who called Governor Rochas Okorocha
the supporters of Usman realised that their candidate who often time were never in support of such violent all sorts of names including Alhaji in Government
did not win, they started trouble as they beat up an conducts. House and Okoro-Hausa must not be allowed to
INEC staff in the process who was assigned to monitor The governor said, “The reports I have heard so disturb the peace of APC in the State”, he said.
the congress in their ward. far across the state indicate that the congress went The governor reiterated his appeal to members of
Rabiu said it took the intervention of security agents peacefully without any form of acrimony or rancour. the party in the State to remain calm and ensure
to rescue the INEC officials from Usman’s supporters. That is what we have been preaching and I am happy peace and assured that the anomalies would be
At Wuro Hausa ward in Yola South, the delegates that the players have embraced peace. corrected and the Ward Congress in the State, will
faulted the conduct of the congress in their wards but “As the leader of the APC in the state, I’m also father hold accordingly.
the coming of the former EFCC Chairman, Mallam Nuhu to all and that informed my conciliatory moves. No When Thisday spoke with Senator Izunaso on
Ribadu, who voted in the ward doused the tension that good father will stand aloof while his children are at phone, he dismissed the accusation leveled against
was about to erupt by addressing the problems with loggerheads. Thank God all have been settled now and him by the governor, stating that he would not talk
the congress committee. we have had a peaceful outing.” on the issue because he was an “umpire.”
60 MONDAY, MAY 7, 2018˾T H I S D AY


Buratai: Army Will Secure

Nigeria Better With Good
Policies and Laws
George OkohÓØËÕßÜÎÓ would enhance securities quick operations.
across the country. “The water route is what
The Chief of Army Staff The army chief also we are looking at very
(COAS), Lt Gen Tukur stated that the army critically. I wish it can be
Buratai, has called on would deploy more improved. Already, there is
some state governments troops to cover the areas a planning committee on
to take a critical look at prone to crisis in the ground from the defence
some policies and law state, particularly those headquarters who are
being implemented in their communities  located along working on this, and
states and possibly make the riverbank and shared there are those of us that
a review of them in order boundary with other states. have been brought in for
to resolve crises bedeviling According to him, a deployment in the water.
the country. place like Anyibe in “But as I said earlier, the
He insisted that certain Ayilamo, Logo council overall security will depend
policy and law being area that shares boundary on the number of factors.
implemented in some states with Taraba and Nasarawa Everybody is coming to
needed to be reviewed to States would be  reinforced play his role especially the
give everyone a sense of with the troops to state government, as well
belonging. guarantee the security as the security agencies and
Buratai stated this in and safe returns of the the local government. The
Ugba, the headquarters of people already displaced.  state and council areas has
Logo Local Government He said the lack of their roles in the provision
Area of Benue State, where effective mobility on water of roads and other social
he undertook an on-the- route and other roads have amenities. They are quite
spot assessment tour of continued to hampered fundamental and l hope
destroyed-communities troops to quickly move in they will look at it and
invaded by Fulani and respond to cases of see how they can improve
herdsmen. attack, noting that both the on the terrain in terms of
He added that some state and local government movement and provision
inter-tribal fight is also area needed to work out of roads. You can see how
fuelling the crisis in modalities for the provision difficult the terrain is for
Nigeria, stressing  that of rural roads and other us to get into the affected
if  this policy and law is social amenities so as to areas in Anyibe, Ayilamo,”
fundamentally reviewed, it enhance emergency and Buratai explained.

Music, Tourism Can Generate Forex and

Contribute to GDP, Says AMBON
set by members in pursuit artists who are unorganised
Ugo Aliogo, Esther Ehoche of common visions and it and works together as an
ËØÎ Judith Obaze plans to support and follow association and create a
the by-laws by actively platform for them to be heard,
Association of Music by participating in the stating that the association is
Band Owners of Nigeria music industry of Nigeria. set to treat all members with
(AMBON) has predicted that The music industry is a respect and dignity “without
a combination of Nigeria’s big industry; we want to regard to ethnicity, age and
tourism and music potential bring our own industry. race which are common
if well harnessed, has the We want to see how we problems among Nigerians.”
capacity to earn multimillion- can collectively revive the He added that through
dollar foreign exchange and industry. Music is a serious training, workshop,
also contribute multi-billion business; therefore, we conferences, and seminars,
naira in locally internally actually have scientific skills.” the association would build
generated revenues.  He also stated that the highly motivated leaders at
Speaking at the association is founded on every level of the association
unveiling ceremony in the principles of humanitarian who would reflect the
Lagos, the President of the services, the spirit of excellence membership in all its
AMBON, Mr. Akin Tofowoma, and dedication to duty, adding diversity.
said the association is that the association remains He called owners of
an established body that committed to dictating the other music bands to join
collectively helps to develop, standards for the quality and hands with AMBON in
empower and organises the timeliness of live band music. changing the face of music
country’s ‘unorganised’ live Tofowoma further stated in the country, adding that
music sector in Nigeria. that the association would their contribution would
He said its  efforts are to bring together Nigerian be very significant.
revive the culture of live
band music in the country
and to improve the quality
of music and set a standard
for the sector.
He pointed out that,
“According to statistics in
the United States, live band
music ticket sales revenue will
grow from $7.2 billion in 2015
to $ 9.1 billion in 2021.    To
this end, AMBON intends
to build a coalition and act
as a solidarity with other
organisations who shares
its concern for social and
economic justice in the Nigeria
music sector.  
“AMBON seeks to get to
the level where a band is
called upon to play for an
event not because it offers
lower prices than other
bands, but because of its
worthiness.    The dream of
AMBON is to strive and get
recognition both at national
and international level.  
“It has standards and
expectations which have been
MONDAY, MAY 7, 2018˾T H I S D AY 61


Fayose’s Appointees Barred from Voting in

Ekiti PDP Guber Primary
Victor OgunjeÓØÎÙÕÓÞÓ of primaries in the party,  the Ayodele  Fayose’s political former elected officials still him and has no reason to yesterday, PAAM Director
national secretariat of the appointees from voting in in the camp of Fayose would fidget over that. of Publicity, Niyi Ojo, said
In compliance with the Peoples Democratic Party the governorship primary of have the right to vote at the However, some party information at the group’s
rules guiding the conduct (PDP),  has barred Governor the party holding on May 8. shadow election scheduled members are hailing the disposal showed that the
The information to this for  Tuesday. decision which they said council chairmen had been
effect was contained   in Members of the   Kolapo would ensure fairness, ordered to produce and sew
Get Your Permanent Voter the list of delegates released
by the party’s national
led by
transparency and credibility
of the primary election.
“aso ebi” in favour of an
aspirant to the primary.
leadership which was the Commissioner for In another Ojo said the action
Cards, Senator Tinubu Tells signed by the National Environment, Hon. Bisi development,   the Prince contravenes the provision
Organising Secretary, Col. Kolawole, has declared that Adedayo Adeyeye Movement of the Electoral Act, urging
Nigerians Chris Akobundu (rtd), where
names of the governor’s
they were not rattled by the
(PAAM) has warned local
government chairmen against
the Electoral Panel to
disqualify any aspirant
The senator representing “With previous elections, appointees have  been They said Olusola, who has sewing uniforms to be worn whose delegates wear
Lagos Central senatorial district, Nigerians developed voter expunged. been anointed by Fayose, has by delegates to the primary. clothes that run foul of the
Mrs. Oluremi Tinubu,  has apathy due to a distrust of But the only serving and majority of delegates behind Speaking with journalists law to the primary.
urged registered voters resident the system. The 2015 elections
in Lagos State to ensure that taught us, however, that as
they collect their Permanent individuals, our votes count.
Voter Cards (PVCs), which Thus, we must rise up as
is the key to participating in citizens to fulfill our civic
the forthcoming 2019 general responsibility and ensure
election. accountability in governance,”
The call was made Senator Tinubu said.
following revelations from the Towards the 2019 elections,
Independent National Electoral INEC has released modalities
Commission (INEC) that over for ongoing continuous voter
7,800,000 PVCs are yet to be registration. These centres open
collected nationwide. About from 9a.m. to 3p.m. daily. But
1,400,000 of these are from Senator Tinubu has pleaded that
Lagos State alone. the period should be extended;
Prior to the 2015 elections, and should include weekends
INEC had introduced the use to allow people who are unable
of smart card readers. This has to visit the centres during
necessitated issuance of PVCs work hours do so during the
as part of the identification and weekend.
authentication process. In addition, she said INEC
After the 2015 elections, about should ensure that it has
12 million PVCs had remained adequate resources to make
in the electoral body’s custody. the process quick and easy.

Secondus Slams Buhari

over Harassment of Melaye
Onyebuchi EzigbÙÓØÌßÔË be treated with all amount of
civility. And we believe that if
The National Chairman of the he has done anything wrong;
Peoples Democratic Party (PDP), let him be taken to court in a NEW EATERY IN YOLA
Prince Uche Secondus has asked good manner and not like a L-R: Mr. Babalele Abdullahi; Adamawa State Commissioner of Health, Dr. Fatima Abubakar; Princess Rukaiya Abubakar, former Vice
President Muhammadu Buhari common criminal. So you can President, Atiku Abubakar; Aliyu Atiku Abubakar; and Mr. Adamu Atiku Abubakar, at the inauguration of the Chicken Cottage outlet in
to check the growing incidence see that more of things like this Yola, Adamawa State....yesterday
of human rights abuses and will be coming to the opposition,
harassment of opposition if they could treat their own
elements in the country.
In  his reaction to the alleged
persons like this.
“Remember when we raised
How Ekweremadu Nominated Yar’Adua for Nobel Peace
harassment of Senator Dino
Malaye and Senator Shehu
alarm of the conspiracy theory
of the APC, you know what
Sani, the PDP boss warned is happening to distinguished
the All Progressives Congress Senator Shehu Sani, his being Tobi Soniyi ÓØ ËÑÙÝ for peace and justice. He has engagement to dislodge the Niger Delta area. This has
(APC) and President Buhari that framed up and quite a number demonstrated an uncommon militants, with attendant resulted in calm, safety of
Nigeria is not in military rule, of people, they just pick them Eight years after, facts ability for achieving humanitarian consequences lives and property in the
but democracy. and charge them. It is not going have emerged on how the peace in his capacities as in the Niger Delta, he chose Niger Delta and the Gulf
Secondus while responding to resolve the problem, don’t Deputy President of the the President of Nigeria the peaceful options of of Guinea.”
to questions from journalists turn Nigeria into a police state, Senate, Ike Ekweremadu, and the Chairman of the dialogue and unconditional When contacted, the
recently in Abuja, added that everybody is living in fear as nominated the late Authority of Heads of State amnesty to all the militants. Special Adviser on Media
“on Ekiti election, processes have if we are in Abacha’s regime, President Umaru Musa and Government, Economic “This has been nationally to the Deputy President
began, we have done the three he lamented. Yar’Adua for the 2010 Nobel Community of West African and globally acclaimed as of Senate, Mr. Uche
man committee, ward delegates. He revealed that, “this Peace Prize. States (ECOWAS). an uncommon masterstroke Anichukwu, who confirmed
On Tuesday there will be state government is intimidating The letter titled: “Situations in the Niger and a huge success. Over the authenticity of the letter,
congress to elect our candidate. our people, but we will resist, ‘Nomination for the 2010 Delta region had already 30,000 militants embraced however, revealed that the
Thereafter campaign will start we will not be afraid, nothing Nobel Peace Prize: Re: Alhaji assumed monumentally the olive branch, denounced former president did not
and you know the governor has can intimidate us. Because our Umaru Musa Yar’Adua, grave proportions bordering violence, and turned in their know about it before his
done very well in that state. So leaders, our founding fathers President, Federal Republic on insurgency at the time weapons. They are currently death.
we are sure that the state will wrestle power from the military of Nigeria’ and dated January the President assumed quartered in rehabilitation However, a copy of the
still remain PDP state. and brought this democracy, 6, 2009, was addressed to the leadership of Nigeria on camps where they are also acknowledgement letter
The PDP chairman lamented so we will maintain it despite Norwegian Nobel Committee, May 29, 2007. undergoing vocational from Nobel Prize Committee
that, “the fear of everybody all the harassment, media trial, Oslo, Norway. “The youths of the region trainings. was eventually transmitted
around the globe, not only media jailing and all sort of Ekweremadu predicated had mobilised into the “Furthermore, the to his widow, Hajiya Turai
Nigeria, is that Nigeria has things that the ruling part have Yar’Adua’s nomination on creeks and taken up arms president has undertaken Yar ’Adua.
turned to be a police state deployed against the opposition. the late president’s inclination in their tens of thousands robust policy initiatives to “Even though the prize
by the (APC) government of He urged members of the for peace and justice for under different fronts to deliver physical and human was ultimately clinched by
President Buhari and he has public to speak out against all, noting that although wrest the control of their capital development in the Liu Xiaobo, Ekweremadu
introduced some elements he the APC, assuring them that Yar’Adua had the option of resources from the Federal region. He has practically was nevertheless happy
used when he was head of their freedom of expression is full military operation in Government of Nigeria, committed billions of naira that the former president’s
state, arresting, harassing and guaranteed in the democratic the Niger Delta, he chose kidnapping oil workers, towards this in addition to name had gone down in
intimidating people. You don’t system of government that we the dialogue and amnesty and sabotaging foreign the mandate of the existing history as a man naturally
do that in democracy, you allow adopted and that his party is option in resolving the oil interests with direct Niger Delta Development inclined to peace and
the rule of law to reign. working    day and night to militancy challenge in impact on oil productions Commission and a distinct justice and indeed a
Secondus said: “We are bring like minds together, to a the region. and revenues. Ministry of Niger Delta, father to all,” he said.
not in the military era. Look common front so that they can He wrote in part: “Although the which he created to Yar ’Adua died on May 5,
at how Senator Dino Melaye work together for the interest “President Yar ’Adua is a president had the usual directly oversee and speed 2010, after a protracted
was treated. A senator should of the country.  man with natural inclination option of total military up development in the illness.
62 MONDAY, MAY 7, 2018˾T H I S D AY


Dogara Encourages Youth Participation in

Seeks life insurance for journalists
James EmejoÓØÌßÔË The Rotary 4-Way Test, which is learn nationalism is now; the like to urge media practitioners Distinguished Friend of the democracy.
the scale for the determination of time to learn commitment to to be objective, fair and Media Award given to him by He challenged the press to
The Speaker  of the House of the integrity of human thought community service is now and balanced in their reportage the NUJ will “motivate and “tell the right stories, especially
Representatives, Hon. Yakubu and action indeed constitutes a the time to set objective life goals and editorial policies and spur us to continue to support those that promote unity,
Dogara, has challenged all master key to a majority, if not towards national development decisions because we cannot and protect democracy and peace and harmony as well
youths to take full advantage all, of our existential conundrum. is now. have freedom without press freedom.” as stand up for the right to
of the ‘Not too young to run’ In all human thoughts and Meanwhile, Dogara while responsibility.  He emphasised that as the truth, especially now that
bill recently passed by the actions, if the answers to these speaking during a brief remarks “The House of watchdog of the society and we inch towards the 2019
National Assembly with the aim 4-Way test questions ,namely: at the Nigerian Union of Representatives and indeed fourth estate of the realm, the general elections, according
of lowering the age requirements (i) Is it the truth? (ii) Is it fair to Journalists (NUJ) 2018 Press the National Assembly in media plays a pivotal role in to a statement by his media
for elective offices in line with all concerned? (iii) Will it build Freedom Awards night, said: general will continue to protecting and promoting aide, Mr. Hassan Turaki. 
its commitment to youth goodwill and better friendships? “I will urge the NUJ to work partner and support the democracy, human rights He, however, commended
participation in governance. and (iv) Will it be beneficial towards implementing life media in guaranteeing free and the rule of law. the Nigerian press for the role
Dogara also called on media to all concerned?, are in the insurance for journalists in press including the safety He, further urged they played in the struggle for
proprietors to provide improved affirmative, the risk of wrong Nigeria. of journalists through the journalists to ensure that they the restoration of democracy
welfare for journalists, stressing is negligibly minimal.” “I will call on all proprietors of instrumentality of the unreservedly monitor public in 1999, while noting that
on the need to pay salaries and The Speaker, who expressed media organisations to promptly legislature, as practiced in office holders in order to stop many journalists paid the
provide health insurance for their delight at double honours pay the salaries of their staff.”  other climes.” all dictatorial tendencies and supreme price during military
staff who are exposed to all sorts conferred on him by Rotaract The speaker said: “I will also Dogara said the protect Nigeria’s hard-earned dictatorship.
of risks while doing their jobs. by giving him the role of guest
He said the lower chamber is speaker and also conferring
committed to the enactment of the prestigious merit award
youth friendly legislations that of exemplary leadership and
will aid the total development humanitarian services on him,
of our youths into productive expressed confidence in them to
citizens, encourage them to restore the fast depleting values
imbibe and sustain the spirit of among the younger generation.
commitment to civic obligations,  “While admonishing the
Speaking at the 31st annual young members to take full
All Rotaract Multi-District advantage of the invaluable
conference in Abuja, he leadership education Rotaract
maintained that parliament offers them, he praised Rotaract
is dedicated to ensuring the for creating reality through the
observance and appropriation practice of sound character
of fundamental human rights development and the inculcation
of youths and full participation of the spirit of service and
in governance though all the friendship, adding that he
available opportunities under has no doubt that Rotaract,
the law. and indeed its sister minors
He said: “In a country with club, the Rotary Interact ( for
fast depleting values among the persons between ages 12 - 18),
younger generation, which in if well promoted, should
my opinion, is a consequence become the Leadership bank
of uninspiring leadership, I of communities, nations and
am persuaded that occasions indeed the global community,”
such as this provide fertile he said in a statement by his
environment for inspirational media aide, Mr. Hassan Turaki. 
interaction with youth who He added:”Rotaract provides
have, by choice, dedicated for you in experiential form, the
themselves to the promotion rudiments of ethical living in
of the enthronement of critical your prime and as you grow
human values and possess the with this specialised knowledge
potential to massively replicate and experience , you are sure to HOPE WE ARE STILL TOGETHER?
same. end up as dependable citizens Cross River State Governor, Prof. Ben Ayade (left); with Senate Minority Leader and former Governor of Akwa Ibom State, Senator
“Rotary international of which with high ethical standard. I Godswill Akpabio, during a visit to the rice seed and seedling factory in Calabar....recently
Rotaract is an affiliate, remains charge you therefore that
one of the social organisations
with the most noble objectives
the time to learn Leadership
is now; the time to learn Herdsmen Killings: HURIWA Backs Move to Prosecute
as well as operational culture. patriotism is now, the time to
Miyetti Allah Leaders
Moghalu Appoints Jide A non-governmental organi- decision of the  Makurdi
sation, Human Rights Writers High Court which okayed the
see how the development in
the Benue State High Court
whether the hierarchy of
the police will fail to carry
Association of Nigeria prosecution of the leadership progresses especially the
Akintunde Spokesman (HURIWA) has commended of the Miyetti Allah Kautal imperative of the neutrality of
out the lawful injunction of
the competent court of law.
the order of the Benue State Hore and others over the the policing institution which “Unfortunately, President
The Managing Editor and community annually. High Court authorising the killings in the state must be must be allowed to enforce the Buhari has continued to
CEO of Financial Nigeria As a writer, columnist and prosecution of the leaders enforced “unless and except lawful orders of the high court shield the Miyetti Allah’s
International Limited, has editor, he has interviewed of the Miyetti Allah Cattle the presidency is the chief which derives constitutional leadership from arrest
been announced as the high-level policymakers and Owners Association for the sponsor of the attacks and powers from Section 6 of the and prosecution over their
official spokesman for business leaders across the spate of bloody attacks and will therefore jeopardise the Constitution of the federal provocative media statements
‘To Build A Nation’, the world. killings of hundreds of local trial of these leaders of the republic of Nigeria of 1999 which directly instigated the
transformation movement for He has been published farmers and Christians in the Miyetti Allah. (as amended). killings following the passage
2019 presidential candidate in several national and state. “The president must “Nigerians must watch of the anti-open grazing law
and former Deputy Governor international media HURIWA has also warned demonstrate to Nigerians the level of compliance by by the Benue State House of
of the Central Bank of platforms, successfully the Nigeria Police Force not to that he is the leader of the Nigeria Police which of Assembly. The civil society
Nigeria (CBN), Professor developing Financial Nigeria undermine the constitutional all Nigerians by allowing recent have been converted community should mount
Kingsley Moghalu. magazine into a useful tool authority of the High Court of the wheel of justice to to the foot soldiers of the considerable pressures on
A graduate of the in policy management, the state by failing deliberately run smoothly and not be presidency to an extent that the federal government to
University of Lagos, corporate communications, to enforce its lawful orders manipulated by the Nigeria the Inspector General of Police stop the ongoing conspiracy
Jide Akintunde is also and market entry strategies. that the leaders of the Miyetti Police to do the bidding of the (IG) disrespected the National of silence and the refusal
the Director of Nigeria With the vision to Allah be brought to the High Miyetti Allah Cattle Owners Assembly twice even after he of President Buhari to take
Development and Finance transform Nigeria through Court to be prosecuted for Association who have always was invited by the central concrete and verifiable actions
Forum (NDFF), a platform action and a collective their roles in the series of bragged that the president is legislative arm under their to initiate the declaration of
to directly provide country voice, ‘To Build A Nation’, attacks and violence unleashed their Chief Patron, and so, constitutional mandate to Miyetti Allah as a terrorists
policy and financial market a grassroots arm of Kingsley on the people of Benue State.    they can do whatever they provide responses to some group and to round up their
briefings to government Moghalu’s presidential  The group in a statement like and get away with it burning issues relating to the leaders for prosecution over
representatives, private campaign, is centred on by its National Coordinator, in flagrant breach of the spate of attacks and killings their roles in the killings
sector leaders, members mobilising support and Emmanuel Onwubiko, and Constitution of Nigeria.” of innocent Nigerians. We in in Benue State and across
of chambers of commerce, advancing the candidate’s National Media Affairs HURIWA noted that the organised civil rights the North-central region
Nigerians in the diaspora, policies and priorities among Director, Miss Zainab Yusuf, Nigerians from all walks community are monitoring of Nigeria,” the statement
and the international Nigerians. stated that the landmark of life must take interest to the judicial process to see said.
T H I S D AY ˾MONDAY, MAY 7, 2018 63

Group Sports Editor Duro Ikhazuagbe
0811 181 3083 SMS ONLY

Iwobi Shines as Arsenal Gives

Wenger Emotional Farewell
Victor Moses provides assist as Chelsea edges Liverpool
Duro Ikhazuagbe Chelsea maximum points against
Liverpool at Stamford Bridge.
Super Eagles forward, Alex Iwobi, The 1-0 victory now moves
got on scorers’ sheet for the first Chelsea with 69 points to within
time in nine matches yesterday three points of third-placed
to end his goal drought in the Liverpool and two behind
English Premier League as he Tottenham Hotspur. Liverpool
scored Arsenal’s fourth goal in has only one game left while
the 5-0 defeat of Burnley. Chelsea and Spurs each have two.
The Gunners’ victory was a Oliver Giroud headed into
perfect send-forth for Frenchman net Victor Moses’ perfect cross
Arsene Wenger who ended his from the right flank in the 32nd
nearly 22 years reign at the North minute. It was Moses’ third assist
London club with his last home goal this season.
game yesterday. Moses was however
Goals from Pierre-Emerick cautioned by Centre Referee
Aubameyang and Alexandre Mike Taylor in the 81st minute
Lacazette in the 14th and 45th and seven minutes later
minutes gave the Gunners a the Nigerian international
two-goal lead into the break. was subbed off for Davide
Sead Kolasinac made it 3-0 in Zappacosta.
the 54th minute, firing in a shot Chelsea remains in fifth but
from a tight corner after good move within three points of
work from Jack Wilshere. Iwobi third-placed Liverpool.
made it 4-0 in the 64th minute With two games remaining
when he rifled in a shot into roof to Liverpool’s one, Chelsea can
of the net before Aubameyang move level on points with the
scored his second goal of the Champions League finalists
emotional afternoon at Emirates when they face Huddersfield
to make it 5-0 for the Gunners on Wednesday.
who moved six points ahead of But given Liverpool’s superior
the Clarets. goal difference, the Reds would
Elsewhere, another Super almost certainly ensure a top-
Eagles forward, Victor Moses four finish with victory at home
provided the assist that earned to Brighton on the final day.
Arsene Wenger stepping out of the Turnstile to a befitting send-forth at Arsenal’s last home game of the season at Emirates
Wenger: Gunner for Life Stadium after 22 years in charge of the North London Club… yesterday

“I will miss you” Arsene Wenger story for me at Arsenal. But I will
told the Arsenal fans after being
given a fitting farewell in his final
also feel grateful for having led this
club - that I cherish so much - for CAF Confed Cup: Enyimba in Flying Start against Djoliba
home game in charge after 22 years such a long time.”
with a 5-0 thrashing of Burnley Wenger won three Premier Isiaka Oladuntoye yesterday fired half but had no score to show for awarded a penalty 10 minutes NPFL
yesterday. Leagues and a record seven FA Enyimba to a perfect start in the the effort- no thanks to Djoliba to the end of the game when (MATCH-DAY 20  RESULTS)
On a day dominated by tributes Cups. His crowning glory coming CAF Confederation Cup group goalkeeper Adama Keita who substitute Freedom Omofowan Rivers Utd    0 -0 Abia Warriors
to the Frenchman, both teams in the 2003/04 season when Arsenal stage as the Peoples Elephant was in excellent form. was tripped inside the box. Nasarawa  2 -0   El-Kanemi 
formed a guard of honour for won the league without losing a defeat Djoliba of Mali 2-0 at the Djoliba made spirited efforts Another substitute, Stanley Katsina Utd.  1-0 Plateau Utd
Wenger, 68, before kick-off to a single game. U.J. Esuene Stadium in Calabar. to get back into the game after Dimgba, converted the penalty Heartland     1-1 K’ Pillars
chorus of “there’s only one Arsene He was presented with the Oladuntoye got the opener Oladuntoye’s goal but were to take the game beyond the Lobi  Stars 1-1 Sunshine 
Wenger”. special gold trophy given to the three minutes after the first unable to find a way past the reach of the Malians. Wikki     1-1  Rangers
All around a full house of 60 000 club for that achievement after the half break with a thumping shot Enyimba defence. Paul Aigbogun’s men next Ifeanyiubah  2 -1  Go Round
at the Emirates – in stark contrast match by two Arsenal legends Bob following a corner kick. Enyimba however game is against CARA Brazzaville Kwara Utd   2 -1 Yobe Stars
to recent league games when fans Wilson and Pat Rice, who worked Enyimba dominated the first consolidated    when they were of Congo on May 15. MFM FC  3 -0 Tornadoes
have stayed away in protest at a on Wenger’s coaching staff for many
poor season – fans sported red
t-shirts emblazoned with “Merci
Arsene” (Thank you Arsene).
years. That “Invincibles” season was
his last as a Premier League winner,
though, and fans became tired of
Ecobank Commends Okpekpe Race over Silver Label Status
“Thank you for having me for Arsenal’s inability to compete for Managing Director of Ecobank, to state here that Ecobank fully status. We in Ecobank remain road race in West Africa.
such a long time. I know that’s Premier League and Champions Charles Kie, has restated why endorse this competition and will committed to our partnership “This year, we are bringing
not easy but, above all, I am like League titles. the bank is in partnership with like to assure you that we will with Okpekpe road race. It is some innovations never ever
you, I am an Arsenal fan,” Wenger However, there was plenty for Okpekpe International 10Km continue to be associated with always a great pleasure to be witnessed in any road race
said a post-match presentation on the supporters to shout about in a Road Race scheduled to hold the Okpekpe International Road at the event,” observed the in Nigeria. We are going to
the Emirates turf. “I would like to fitting finale for Wenger as Arsenal on Saturday May 12, 2018 in Race,” he said. Ecobank chief executive. broadcast the race live on
finish by one simple word: I will displayed the attractive brand of Okpekpe, Edo State. He commended the organisers Kie who registered online at SuperSport on Saturday.
miss you. Thank you all for being attacking football that characterised Speaking at the weekend, the for the elevation of the race by the renewal of the partnership SuperSport is going to use three
such an important part of my life.” his most successful sides over the Managing Director of Ecobank, IAAF to a silver label status, for the 2018 edition of the race, Outside Broadcast vehicles to
Before the game in his final past two decades. Charles Kie, said that the objective stressing that the competition promised to race in the VIP take the competition to the
programme notes, Wenger said Defeat to Atletico Madrid in of the organisers of the race brings together men and women category. door steps of millions of people
he expected to be saddened by the Europa League semifinals on matches that of Ecobank and from various parts of the world. Race owner and Chief around the world,” observed
the occasion. “I expect today Thursday means Arsenal missed out assured stakeholders that the “I want to congratulate Executive Officer at Pamodzi the Pamodzi CEO.
will be dominated by sadness,” on Champions League qualification bank will continue to throw its the organisers of the annual Sports Marketing Limited, Mike Itemuagbo also revealed that
he wrote. “It’s the end of a long for the second consecutive season. weight behind the race as its Okpekpe International 10Km Itemuagbor, thanked Ecobank for medals are going to be presented
Official Bank. Road Race for the elevation the continuous support for the to the first 1,000 runners to
 ”I want to use this opportunity of the race to a silver labeled Okpekpe, the only silver labeled complete the race.
Cardiff Back in EPL
Four seasons after going down to Championship title ahead of
the English Championship, Cardiff the final fixtures of the regular
City won its promotion back to season yesterday.
the Premier League yesterday. Fulham, Aston Villa,
It joins ailing Carl Ikeme’s Middlesbrough and Derby County
Wolverhampton Wanderers all qualify for the playoffs that
(relegated from EPL in 2012), will determine the third team
who had won the 2017/18 to be promoted to the topflight.

Football Family Unites for Ferguson

Messages of support continued a measure of the Scot’s success
to pour in as legendary football on the pitch, and his stature
manager Sir Alex Ferguson off it that tributes poured in
fought for his life on yesterday from around the world of
following emergency surgery sport, and beyond, to wish the
for a brain haemorrhage. 76-year-old a speedy recovery
Considered the most after he underwent surgery
successful manager in the on Saturday. “Everyone at
history of British football, AC Milan wishes Sir Alex
Ferguson won 38 major Ferguson a full and speedy
trophies in just over 26 years recovery,” said a statement L-R: Executive Director, Risk Management Ecobank Nigeria; Biyi Olagbami, Company Secretary / Chief Legal Officer, Ecobank Nigeria,
in charge of Manchester by the seven-time European Denike Laoye, Managing Director, THISDAY Newspaper, Eniola Bello; Managing Director, Ecobank Nigeria, Charles Kie, Chairman/CEO,
United, including 13 Premier champions on their official Pamodzi Sports Marketing, Mike Itemuagbor and Executive Director, Corporate Banking, Ecobank Nigeria, Akin Dada, at the registration of
League titles and the UEFA Twitter page early Sunday
Champions League twice. It is morning. Ecobank’s MD and other executive management for the 2018 Okpekpe International Road Race in Lagos…last Friday
Monday May 7, 2018 & RE A S O Price: N250
Anyaoku to FG
“...our country is currently drifting with decreasing respect
for the sanctity of human life and as a result, has become
number 13 in the Wikipedia list of the world’s fragile states.”
– Former Commonwealth Secretary-General, Chief Emeka
Anyaoku making a case to the federal government on the
need to restructure the country.


Curbing Human Trafficking Between Nigeria and the UK

xactly a week ago, on Monday, April communities in reducing pressure on the poor has trafficking across their borders. It is instructive that
30, 2018, Dr. May Ikeora presented also been fingered as responsible for the abuse the understanding of the two nations are not exactly
her book titled “Bilateral Cooperation of children and in some cases child trafficking. the same. While the UK would like to collaborate
and Human Trafficking, Eradicating In 2003, the National Agency for Prohibition of with Nigeria as a source country, Nigeria would
Modern Slavery Between Nigeria and Trafficking in Persons (NAPTIP) act as amended rather see itself as a destination country from other
the United Kingdom”. The book presentation was was passed by the National Assembly. Its main African countries and a source to few European
hosted by the Deputy British High Commissioner purpose was to provide a comprehensive legal countries. Compared to countries like Italy and The
in her residence in Ikoyi, Lagos. In attendance framework to prohibit human trafficking, protect Netherlands, Nigeria feels that the UK is insignificant
were The Governor of Edo State, Godwin Obaseki, victims and facilitate national and international as a destination country from Nigeria. To the UK,
Former Governor of Anambra State, Peter Obi and cooperation to fight trafficking. One of the strongest Nigeria is a big challenge to anti- trafficking efforts
the representative of the Oba of Benin amongst points made by the author is that the best way within its territory, maintaining a position as top
other dignitaries. I was privileged to function to deal with human trafficking is to deal with five source country for trafficking into the UK.
as the book reviewer. I have taken liberty to vulnerabilities. Hear her “human trafficking preys Nigeria on the other hand, does not see UK’s case
publish my review of the book in this column on the vulnerability of people, which often makes as serious given that it is not within the top five
today, hoping that you will enjoy it. it easier for traffickers to coerce and exploit them. destination countries for trafficking from Nigeria.
Just like Winston Churchill once remarked, this For instance, poverty and search for a better life In an interesting section she titled “Negotiating
review would be like a lady’s skirt. Long enough have driven people into the hands of traffickers as Rights or Negotiating Borders” the author contends
to cover the subject, and short enough to create Ikeora seen in many cases of trafficking. In this regard, that while on the face of it, eradicating human
interest. addressing the vulnerabilities of persons in Nigeria trafficking comes across as a common goal for
The 294 paged book sets out by reminding us some of the drawbacks of the human rights can serve as a preventive strategic option towards both countries, border security, minimizing the
that though transatlantic slave trade ended centuries approach and therefore extends the perspective addressing human trafficking from Nigeria to the cost of anti-trafficking and criminality seem to
ago, modern slavery is still very much around. to a human centered approach which basically UK”. She insists that it is the responsibility of states be the major focus of the UK over and above
The major thrust of the study is to understand says that rather than focusing on the state and its to prevent the occurrence of wrongful acts of which the human rights of the Nigerian victims. UK
human trafficking, its causes and consequences interest, the people’s interest should be paramount. human trafficking is one. For the state to effectively and some other countries believe that migration
and measures that would work in eradicating it. The importance of the human rights approach is tackle the problem, it must address the root causes threatens national security and therefore regards
In explaining trafficking, Dr. Ikeora adopts the its assumption that victims are vulnerable because by creating an environment that reduces vulnerability human trafficking as an immigration problem
United Nations Convention Against Transnational of lack of socio economic opportunities in origin and makes it difficult for traffickers to operate which should be solved accordingly.
Organized Crime definition as follows: “the countries. This, in my opinion, is the most important with impunity. From her study, she found that Like we pointed out earlier, Nigerian victims are
recruitment, transportation, transfer, harbouring part of this study. As quoted in the book, “human poverty, greed, and low level of education as against most likely to take the risk of submitting themselves
or receipt of persons, by means of a threat or use trafficking persists in part, when societies tolerate the ‘better life syndrome’ sold by traffickers and to their captors than come back to Nigeria to return
of force or other forms of coercion, of abduction, denials of the dignity and humanity of vulnerable others alike, have been major factors driving the to the same situation that they were running away
of fraud, of deception, of the abuse of power or individuals. This includes the denial of economic trade in Nigeria. In addition, social exclusion that from in the first place. Given the mismanagement of
of a position of vulnerability or of the giving or and social rights, discrimination and poverty”. appears in the form of forced marriages, inequality, the Nigerian economy over time, living in Nigeria
receiving of payments or benefits to achieve the Having identified the above, the author posits that traditional servitude, homelessness, family instability has become a nightmare for most people as they
consent of a person having control over another restrictive UK immigration policies, somehow result and domestic violence must be focused on to battle with extreme poverty and unemployment.
person for the purpose of exploitation”. in very weak protection of victims of trafficking. prevent trafficking. She identifies limited ‘successes’ Over 70% of the population lives below poverty
In spite of the apparent clarity of this definition, Once victims fear that they may be deported, they made by a few trafficked individuals by way of line. An environment like this cannot but support
the author concedes that sometimes it is difficult would rather remain in the UK at the mercy of sending money home, building houses, drilling trafficking and migration, she posits.
for law enforcement officers to build a strong case their abductors. This is logical as the victims would of boreholes, purchase of fairly used vehicles and She concludes by calling on both countries to
of trafficking because the trafficker’s intent can be rather not go back to the country from where they a few other community development efforts as wake up to their responsibilities for trafficking to
disguised. The magnitude of human trafficking is were coming for all sorts of reasons. contributing in the push-back by potential victims. be successfully fought and defeated. If Nigeria does
so pervasive that it has become the second largest Because trafficking is mostly a cross border crime, Some of the potential victims who in some cases, not make its environment more conducive for its
source of illegal income after drug trafficking. there is need for cooperation amongst states if offer themselves to be trafficked and even when people, the fight against trafficking cannot be won.
Human trafficking occurs for several purposes, this scourge is to be contained. In this regard, the deported, willingly make efforts to be re-trafficked While the fight is on, she advises the UK to pay
mainly for sexual exploitation, forced Labour, United Nations Convention against Transnational would insist that those who want to stop them more attention to the rights of victims rather than
domestic servitude and organ harvesting. Organized Crime (UNTOC), ratified by at least 117 do not mean well for them, their families and the criminalizing them for crimes committed either
In the year 2000, the Trafficking Protocol was nations has remained the most universally accepted community. She also fingered corruption as one unknowingly or under duress.
adopted. This requires states to take necessary international legal framework specific to addressing of the reasons why anti-trafficking efforts have I must commend Dr. May Ikeora for such a great
measures to Prevent, Protect and Prosecute (3Ps) human trafficking. Without the cooperation of continued to fail. outing and for the painstaking manner in which
in order to end trafficking. states, successful prosecution of traffickers may The author also looks at the response of the UK she delivered the work. The style is attractive, the
I must at this point observe that this book is based just be a pipe dream. In reality, some states find to human trafficking and notes that there seems to language simple and the logic, unassailable. Like
on research involving fieldwork and interviews. The it difficult to allow victims to enjoy immigration be a lot more efforts through legislation to reduce every work of this nature, a few typographical
author therefore starts by formulating a research status, thereby criminalizing them and sometimes, trafficking. The major drawback identified is that errors were noticed. I will pass the ones I identified
question thus: “to what extent have Nigeria and prosecuting them for breaking Immigration and the UK seems to be focused on immigration law to her for correction in subsequent editions. While
the UK cooperated to combat the prevalence of Labour laws or simply repatriating them without than protecting the rights and interests of the victim. I must confess that the research was conducted
human trafficking across their borders?” any reprimand of the real criminals, the traffickers The UK adopted the 3D (Detention, Deportation professionally and conclusions were well founded,
The book is organized into three sections and themselves. The author took time to analyze several and Disempowerment) approach in a bid to rid the it is my belief that this exercise has also left room
eight chapters. other legal frameworks and arrangements which country of victims of human trafficking. Nigerian for further research. It may not be within the ambit
In trying to understand and tackle human I believe would interest readers. victims are usually in breach of UK immigration of the present study, but I am of the opinion that
trafficking, a lot of perspectives are discernible Dr. Ikeora describes Nigeria as a source, transit rules and therefore are subject to arrest, detention knowledge would be aided if further research is
. The author, however, adopts the human rights and destination country for trafficking people and subsequent deportation irrespective of the able to establish the role of the current kidnappings
perspective to anti-trafficking. This perspective, and states that 92% of Nigerians trafficked to circumstances under which the victim accessed particularly by Boko Haram, in human trafficking.
according to the author, amongst other things, Europe are from Edo State. These are figures the country. Even in cases where the victim opts For instance, the abduction of school girls from
insists that victims have a right to be treated with provided by UNESCO. She goes into details on to remain in the UK for fear of harm in Nigeria Chibok. Is it possible that some of those girls could
dignity and are entitled to measures that ensure the different stages of trafficking which starts with by their more powerful traffickers or for fear of be or could have been trafficked? If it is what
their well being and avoid revictimization. This the recruitment stage through the transportation re-trafficking, the tendency is for the UK authorities would be the destination countries?
approach also recognizes that victims may enter stage to the exploitation stage. to decline. The author is optimistic that the Modern Your excellencies, distinguished ladies and
countries unlawfully and may face vulnerabilities In the 5th chapter of the book, the author delves Slavery Act, 2015 would be able to address all the gentlemen, this book is a must read for everyone
as a result. They may also commit crimes under into the efforts that Nigeria had made to stem sides to the hitherto ignored trafficking regulation who can read and reason. Finally, it is interesting
duress during the trafficking process which may trafficking to the UK and the challenges militating issues. She, however, admits that the law is still that some of the findings of Dr. Ikeora’s research
result in their being arrested detained and even against these efforts. too fresh to assess its effectiveness. were consistent with a piece I did recently in this
prosecuted. Criminalization of victims is frowned at The traditional fostering and apprenticeship In 2004, Nigeria and the UK signed a bilateral column titled “If you travel, you’ll die, if you don’t,
by the human rights approach. The book highlights system which ordinarily is helpful to families and agreement to work together to eliminate human you’ll die” (THISDAY, March 12, 2018, Backpage).
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