...say pilots fl ying blind in last three months

Air traffi c:

EXCLUSIVEOLUSEGUN KOIKI

The Nigerian airspace is gradually becom-ing a nightmare for

pilots flying within the country as indications emerged over the weekend that the radio communica-tions on some routes may have collapsed.

This is contained in a six-page petition written by the National Air Traffic Controllers Association, NATCA, an umbrella body of Air Traffic Controllers,

Vol. 2 N0. 509 Monday, December 10, 2012 N150

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Justice Musdapher delivers National Mirror’s anniversary lecture

Gunmen abduct Okonjo-Iweala’s mother

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Controllers raise alarm over unsafe airspace

Poverty, hunger affl ict West Africa despite resources –Fashola

Mandela recuperating in hospital

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P.10P.49

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Lagos-Kano mass transit train servicebegins Dec 20

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P.4Global Fleet Oil & Gas gets new CEO...Palace deserted, community in pensive mood

ISE-OLUWA IGEABUJA

The immediate past Chief Justice of Ni-geria, CJN, Justice

Dahiru Musdapher, will next Thursday December

20, 2012 deliver the National Mirror second anniversary lecture in Lagos.

Musdapher, a versatile and accomplished jurist, will exhaustively examine the relationship between the law and e-media practice

in Nigeria, and how balance could be struck.

The lecture is in line with National Mirror’s anniver-sary theme for 2012 which is on “the judiciary and the challenges of the rule of

L-R: Deputy Governor, Financial System Stability, Central Bank of Nigeria, Dr. Kingsley Moghalu; Deputy Governor, Operations, Mr. Tunde Lemo; Governor, Mallam Lamido Sanusi and Group Managing Director, Access Bank Plc and Chairman, Sub-Committee on Economic Development and Sustainability, Mr. Aigboje Aig-Imoukhuede, at the 4th Annual Bankers’ Committee Retreat in Calabar, yesterday.

L-R: Former Lagos State Deputy Governor, Mrs. Sarah Sosan; wife of the Governor, Abimbola Fashola; Founder/Group Managing Director, Emzor Pharmaceutical Industries Ltd, Dr. Stella Okoli and special guest of honour, Senator Oluremi Tinubu, during the 2012 Emzor’s annual thanksgiving in Lagos yesterday. PHOTO: BAYOOR EWUOSO

Ghana poll: Opposition alleges rigging

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Again, National Mirror, Newswatch shine at media awardNM wins Wole Soyinka prize for investigative reporting

Boko Haram: JTF, police arrest 28 suspects

CONTINUED FROM PAGE 1

Controllers raise alarm over unsafe airspaceATC, of the Nigerian Air-space Management Agency, NAMA, signed by its Gen-eral Secretary, Mr. Banji Olawode.

The statement, made available to National Mir-ror, indicated that there were about 114 reports of unreliable radio communi-cations between Lagos and Kano since September till November 24.

Also within the same pe-riod, there were 72 reports of “erratic working condi-tions of 124.1MHZ radio frequencies of Kano-East as reported by pilots flying in the route.

The petition noted that between October 17 and November 24, there were 58 different reports on the frustrations of duty air traffic controllers and pi-

lots on 128.5 MHz (Kano- West radio) with six reports of its total failure.

Olawode had written to the Managing Director, NAMA, Mr. Nnamdi Udoh and copied 13 other per-sons, including the Min-ister of Aviation, Stella Oduah; the Chairmen, Sen-ate Committee and House Committee on Aviation; Senior Special Assistant to the President on Aviation; National Security Adviser; Director-General, Nigerian Civil Aviation Authority; Commissioner, Accident Investigation Bureau (AIB); Director-General, State Se-curity Service, SSS.

Others are the Director of Operations, NAMA; the Director of Safety Electron-ics and Engineering Ser-vices, NAMA; Airline Op-erators of Nigeria, AON);

Air Transport Services Senior Staff Association of Nigeria, ATSSSAN and In-ternational Air Transport Association, IATA, repre-sentatives in Nigeria. The statement warned of im-pending air accident if the anomaly was not corrected soon.

However, the manage-ment of NAMA said that to further improve air traffic services within the nation’s airspace and decongest the existing radio frequency, most especially in Lagos, it would sectorise its Lagos Area Control Centre.

The petition, titled, “Con-tinued worrisome state of communication facilities within the Nigerian air-space,” noted that despite the fact that the airspace was fully covered with ra-dar, lack of functional and

reliable communication fa-cilities as prescribed by the International Civil Avia-tion Organisation, ICAO, had made the airspace un-safe for users.

The petition noted that a reasonable percentage of Air Safety Reports, ASRs, made within Nigerian air-space for the past two years were communication fail-ure related, adding that be-tween January and Novem-ber 26 this year, 19 of such reports had been received.

NATCA explained that each of these reported air incidents had the poten-tial of resulting in mid-air collisions, adding that the situation was increasingly making Nigeria a laugh-ing stock among the global aviation community.

The petition recalled the memo written by NATCA

with reference number NATCA/GS/305/VOL.II Annexure A (2.1) and dated July 5, 2012, expressing the frustration of the associa-tion brought about by the terrible state of the radios at the ATC units, thereby considered the option of directing her members to downgrade applicable ser-vices.

Also, the Lagos ATCs, in their letter according to the petition, had on October 25, 2010 and November 26, 2012 expressed their frustration concerning the deplorable state of the VHF 127.3MHz radio and continuously be-ing handicapped in provid-ing safe Air Traffic Control Services due to “the poor and substandard communi-cation.”

Lagos ATC had warned of impending “time bomb

to the nation and mankind at large,” if the situation was not corrected by the agency.

The petition reads in part: “Between October 17 and November 24, 2012, there were 58 different re-ports on the frustrations of Duty ATCOs and pilots alike on 128.5MHz (Kano West radio) with six reports on its total failure.

“Between September 29 and November 24, 2012, there were 72 reports on the un-reliable working con-dition of 124.1MHz (Kano East radio) as reported by pilots and ATCOs with eight reports on its total failure and 114 reports on the unreliability and er-ratic working condition of 127.3MHz (Lagos ACC’s radio) with four reports

L-R: Lagos State Governor, Mr. Babatunde Fashola; Prof. of African Studies, Brown University, Providence, USA, Chinua Achebe and his son, Dr. Chidi Achebe, at the Achebe Colloquium on Africa 2012 with the theme, ‘Governance, security and peace in Africa,’ at the Martinos Auditorium, Granof Centre, Rhode Island, USA... at the weekend.

AUGUSTINE MADU-WEST AND OBIORA IFOH

No fewer than 28 suspected terror-ists were arrested

in separate dawn raids in Kano, the Kano State capi-tal, yesterday by the Joint Task Force, JTF, and the police.

A reliable source said the JTF-led operation in Rijayyar Zaki, Kurna As-abe and Yankaba was in re-sponse to the spate of gun attacks by suspected Boko Haram militants in some parts of the commercial city.

Our correspondent gath-ered that following the as-sault in Yankaba, where two teenage students, Chukwuemeka Ebuka (16) and Daniel Nwach-kwu (17) were shot dead on Thursday by gunmen, 12 suspected militants of the sect were arrested while six were picked up in the Kru-na Asabe operation.

A JTF member, who did not want his name mentioned, told National Mirror that, acting on in-telligence report, the 12 arrested Boko Haram sus-pects in Yankaba arrived in Kano from Yobe State.

It was also learnt that an-

other team of security per-sonnel, also acting on a tip-off, raided a compound in the university town of Ri-jayar Zakai, where another group of 10 suspected Boko Haram members were also apprehended.

Military uniforms and other incriminating items were said to have been re-covered from the suspects.

As at the time of filing this report, all the suspects have been handed over to the military authorities.

JTF spokesman, Lt. Ikedichi Iweha, said the JTF would not relent in the efforts to liberate the state from the grip of the terror-

ists, adding that raids on suspected hideouts of the gunmen would be a routine exercise.

“Our plan is to choke up the state to suffocate them and that is what we are do-ing and getting the desired results.

“You can see what they are doing now is to throw cans indiscriminately to sustain their terror, but I assure you we are on top of the situation.”

Meanwhile, moved by the security challenges ravaging the country in the last two years, promi-nent traditional rulers will on Tuesday meet in

Katsina to design a new framework for sustain-able dialogue among dif-ferent communities in Nigeria for peaceful co-existence.

The meeting, facilitat-ed by the National Orien-tation Agency, NOA, will attract royal fathers from the host state, including the Emir of Katsina, Alh-aji Abdulmumini Usman; the Emirs of Daura and Dass; the Ataoja of Os-ogbo; the chairman, Imo Traditional Rulers Coun-cil and the chairman of the Bayelsa State Tradi-tional Rulers Council.

NOA Director-Gener-al, Mr. Mike Omeri, who made this known yester-day, said: “The concept of the dialogue is in concert with the various efforts of stakeholders at dialoguing for peace and in a country where recurring violence and kidnapping are leav-ing a great toll on commu-nities.

“We want to support communities and a net-work of organisations, re-ligious leaders, women and youth leaders, etc. who can promote and participate in dialogue to reinforce the civic role of religion, culture and politics in pro-moting peace and respect for pluralism in the com-munity.”

Omeri added that vio-lence was alien to Nige-rians, hence the need for “synergy in dialogue to checkmate the disturbingly

predictable patterns of vio-lence and counter violence in the country.”

He said the dialogue framework would also help to cultivate a culture of in-clusion and peaceful com-munication necessary for the amicable settling of conflicts that might arise from differing religious, political and cultural com-mitments.

The NOA boss said: “We are optimistic that Nigeri-ans can dialogue to bring this cycle of sectarian vio-lence to an end. The first step will be for Nigerians to accept and respect their ba-sic religious, political and cultural differences and re-alise that, while such differ-ences are inevitable, they can be a source of strength and durability for our na-tion.”

He said the national launch of the dialogue framework in Katsina would be marked by a peace forum and Seminar on Security Challenges and Peace Building in Nigeria tagged “Do the Right Thing: Promote Peaceful Co-exis-tence in Nigeria”.

He said all the Director-ates of the Agency in the 36 states and FCT are already prepared to replicate the peace forum in their vari-ous states thereby multiply-ing the impact.

In doing so, he said, the NOA would work with all stakeholders including the media for effective mobili-zation for dialogue.

CONTINUED ON PAGE 5>>

National Mirror www.nationalmirroronline.net2 Monday, December 10, 2012News

National Mirrorwww.nationalmirroronline.net 3Monday, December 10, 2012

Dr. Jiomh Ibrahim (4th left) and others CEOs cutting the cake.

L-R: Nigeria Media Merit Award (NMMA) recipients, National Mirror Staff, Mr. Tubosun Ogundare; Mr. Mojeed Alabi and Mr. Sina Fadare, displaying their awards at the awards presentation in Lagos at the weekend. PHOTO: ADEMOLA AKINLABI Dr. Ibrahim with the newly promoted Chief Executive Officer, Mrs. Bridget Henry-Iyasere.

Group Managing Director of Global Fleet Group, Dr. Jimoh Ibrahim and his wife, Modupe, at the end of year party of Global Fleet Group in Lagos yesterday.

zine, while the Managing Director and Editor-in-Chief, Mr. Steve Ayorinde, bagged the Dele Giwa Prize for Best Editor of the Year at the Celebrity Media Awards, CMA, 2012.

Fadare, a senior corre-spondent, won the Bukola Saraki Prize for Agricul-ture Reporter of the Year at the NNMA.

His winning entry en-titled; “Kano: A long dream to bring back the groundnut pyramid,” was published in the October 18, 2011 edition of National Mirror.

Ogundare, a senior cor-respondent, bagged the Bank PHB Prize for Corpo-rate Social Responsibility Reporter, CSR, Reporter of the Year. He beat Goddie Ofose of Daily Indepen-dent and Moses Kadris of Nigerian Compass to win the category. He won the same category two years ago and Features Writer of the Year the same time.

Alabi’s story on “OAU: Major headaches awaiting the new VC,” published on May 26, 2011 in the Nation-al Mirror, won Ibrahim Shekarau Prize for Educa-

tion Reporter of the Year. He beat Anthony Akaeze of Newswatch magazine and David Maduabuchi of Daily Independent.

The award night had 51 categories from 3,000 entries, with Tell maga-zine carting away several awards, the highest of the night, followed by News-watch magazine. Tell won in 13 categories, including the Newsmagazine of the Year. The Nation won in four categories namely:

JOHNSON OKANLAWON

The Energy Group has appointed an astute banker, Mrs Bridget

Henry Iyasere, as Chief Executive Officer of its oil downstream subsidiary, Global Fleet Oil and Gas Limited.

Iyasere, who will be re-sponsible for implementing the company’s revised busi-ness strategy and providing overall leadership in the delivery of new projects, including the handing over of filling stations to dealers,

Industry Reporter of the Year, Cartoonist of the Year, Newspaper Reporter of the Year, and Colum-nist of the Year. National Mirror won in three cat-egories. Punch also won in three competitive catego-ries: Telecommunications Reporter of the Year, Edi-torial Writing of the Year, News Photographer of the Year. The Punch Edi-tor, Joseph Adeyeye, was adjudged, Editor of the Year, beating Steve Nwosu of The Sun and Debo Ad-esina of The Guardian.

The newspaper also went home with the Best Newspaper of the Year award, beating The Guard-ian and The Sun.

The Guardian won in two categories: Sports Re-porter of the Year (Oku-san Olalekan) and Tour-ism Reporter of the Year (Olawunmi Ojo).

Vanguard won the In-vestigative Reporter of the Year (Kemi Ishola Ba-logun) while the Culture & Tradition Reporter went to Sulaimon Olanrewaju of the Nigerian Tribune.

was, until her appointment, General Manager, Finance at Air Nigeria. She had previously also served as Chief Executive Officer of NICON Investment.

The appointments were announced by the Group Managing Director, Dr Jimoh Ibrahim OFR, at the weekend during the Group’s end of year party in Lagos

Also appointed was Mrs. Abosede Jinadu, who is now Chief Executive Officer of Global Fleet Industries.

The occasion saw the el-evation of several staff of

the company to the position Assistant General Manag-ers from Business Develop-ment Managers.

Among those elevated are Mr. Fidelis Lemich, Ms Bimbo Busari and Ms Ye-misi Ajayi.

Dr. Ibrahim at the event charged the new appointees to continue to be diligent in the discharge of their du-ties pointing out that rapid promotion await staff that are able to demonstrate the requisite competence, initiative, entrepreneurial and leadership skills going forward.

Global Fleet Oil and Gas gets new CEO

Win Wole Soyinka Award for Investigative Repor tingAgain, National Mirror, Newswatch shine at media awardLEONARD OKACHIE AND FEMI OYEWESO

National Mirror newspapers and Newswatch maga-

zine won several awards at this year’s Nigeria Me-dia Merit Award, NMMA.

The grand presentation ceremony, which held at the Grand Expo Centre of Eko Hotel and Suites, Victoria Island, Lagos had Sina Fadare, Tubo-sun Ogundare and Mojeed Alabi of National Mirror winning at different cat-egories.

Newswatch magazine, a sister publication, excelled in four categories, includ-ing Environmental Re-porter of the Year (Chris-topher Ojaero/Anthony Akaeze), Defence Reporter of the Year (Maureen Chigbo), Aviation Indus-try Reporter of the Year (Emmanuel Uffot), and Oil & Gas Reporter of the Year (Maureen Chigbo).

Also, two staff of Na-tional Mirror, Tobore Ovuore and Adeyinka Adeparusi both won at the

2012 edition of Wole Soy-inka Award for Investiga-tive Reporting, WSAIR.

The award, promot-ed by the Wole Soyinka Centre for Investigative Journalism, WSCIJ, a non-governmental organ-isation, is aimed at stimu-lating the emergence of a socially just community defined by the ethics of in-clusion, transparency and accountability through supports to the media.

At the award held at the June 12 Cultural Centre, Kuto, Abeokuta yesterday, Ovuore emerged the over-all winner in the Health category, while Adeparu-si, emerged as runnerup in the photo journalism category.

The panel of judges said Ovuore won the award in Health category because of her report entitled: “Travellers shun vaccina-tion as touts take over,” while Adeparusi won for his story entitled: “Ojora House arrest.”

This is coming only a week after National Mir-ror was adjudged the Best Newspaper/Maga-

National Mirror www.nationalmirroronline.netMonday, December 10, 20124

National News

Photo News

Gunmen abduct Okonjo-Iweala’s motherNational Mirrorwww.nationalmirroronline.net 5Monday, December 10, 2012 News

Prelate, Methodist Church of Nigeria, Bishop Sunday Makinde (left) presenting the certificate of Knight of John Wesley to Akwa Ibom State Governor, Godswill Akapbio, during a thanksgiving service at Methodist Church, Itiam Offot in Uyo at the weekend.

CONTINUED FROM PAGE 2

Justice Musdapher delivers National Mirror’s anniversary lecture

Controllers raise alarm over unsafe airspace

SOLA ADEBAYOWARRI

The octogenarian mother of the Coor-dinating Minister of

the Economy and Minister of Finance, Dr. Ngozi Okon-jo-Iweala, was yesterday abducted by gunmen.

The 82-year-old Prof. (Mrs.) Chukwuka Okonjo, who is also the wife of the traditional ruler of Ogwashi-Uku, the head-quarters of Aniocha South Local Government Area of Delta State, Obi (Prof.) Chukwuka Okonjo was ab-ducted from the palace.

The queen of Ogwashi-Uku was seized by 10 armed men at about 1:47p.m.

National Mirror gath-ered that the octogenarian was abducted at the gate of the palace and whisked away to an unknown loca-tion.

The abductors report-edly operated in a Golf Volkswagen car with which they took the minis-

ter’s mother away from the scene.

Eyewitnesses told Na-tional Mirror that the hood-lums, who had laid ambush within the precincts of the palace, swung into action as soon as the queen ap-peared to attend to some do-mestic workers at the gate.

It was learnt that the royal father was away when the gunmen besieged the palace.

One of the kidnappers, who raided the inner cham-bers of the palace, report-edly emerged moment later with some personal belong-ings of the Okonjos.

Her whereabouts was yet to be ascertained as at the time of filling this re-port yesterday.

One of the eyewitnesses said: “The abductors were heavily armed. They were about 10. They rounded up the men fixing the in-terlocking tiles and asked them to lay face down.

“Immediately they saw her (the queen), who was

coming towards the gate with her maid to serve the workers soft drinks, they bundled her into a waiting vehicle, a Golf car while another car was parked outside.”

National Mirror reports that gloom enveloped the community yesterday mo-ments after information about the fate of the octoge-narian filtered around the area.

Residents discussed the incident in groups and the palace was deserted in the aftermath of the incident.

The minister’s mother became the latest victim of the spate of kidnappings in Delta State and other parts of the South South and South East in which the victims include both the high and low in society.

Justice Marcel Okoh of the state’s High Court and Vice-Chairman of the rul-ing Peoples Democratic Party, PDP, in the state, Mr. Ekenwan Akwagbe, had suffered similar fate.

The Commissioner for Higher Education in the state, Prof. Hope Eghagha, who was abducted on Sep-tember 30, regained free-dom two weeks after ‘buy-ing’ his liberty from the gunmen.

Two expatriate workers of a construction giant, Se-traco, abducted at a site in Gbarigolor, Ughelli South LGA, almost two weeks ago, were yet to regain their freedom.

Efforts by the security agents to ensure early re-lease of the Lebanese from captivity were futile.

The mother of a mem-ber of the House of Repre-sentatives, Ndudi Elumelu, had also been abducted by gunmen in the state.

The wife of the Port Harcourt correspondent of Vanguard newspaper was the guest of the kidnappers in Eku, Ethiope LGA of the state, for over one week re-cently.

She regained her free-dom when her embattled

husband parted with a ran-som.

However, it was gathered yesterday that the incident jolted the state govern-ment.

It was learnt that top hierarchy of government was unhappy that the inci-dent would send a wrong signal to the international community, particularly because of the status of her daughter.

Findings by our corre-spondent showed that the state government had mo-bilised security agencies to ensure early release of the octogenarian from captiv-ity and apprehend the ab-

ductors. The state Police Pub-

lic Relations Officer, Mr. Charles Muka, a Deputy Superintendent of Police, confirmed the report.

Muka told National Mirror in a telephone in-terview that the police had moved in to secure freedom for the octogenarian.

He said the manhunt for the kidnappers had begun, adding that the police were already working on a clue that could produce early results.

The PPRO also urged members of the public to provide relevant informa-tion to assist in the task.

CONTINUED FROM PAGE 1law.”

The lecture, which holds in Muson Centre, Lagos, is a two-in-one event as a book entitled “For law, for coun-try: Conversations with the Bar and the Bench,” will be publicly presented at the event

The book presents diver-gent views of legal practi-tioners, especially Senior Advocates of Nigeria (SAN), in both private and public practice on one hand and judges on the other hand on

various topical issues in the judiciary including policies.

Aptly described as “con-versations with the bar and the bench,” the book offers lawyers belonging to differ-ent generations, areas of specialisations and holding various philosophies to free-ly express their views on the current challenges bedevil-ling the judiciary and the rule of law.

The management of Na-tional Mirror newspapers said that the book is “a hum-ble contribution of National

Mirror newspapers to safe-guard the integrity of the judiciary and rule of law in the country.”

The occasion of the annu-al lecture will also present a rare opportunity for who-is-who in Nigeria, especially in the legal community, to reunite and discuss the judi-ciary and the all- important topic of e-media practice in Nigeria and the law.

The event will be chaired by the Lagos State Governor, Babatunde Fashola, who himself is an accomplished

legal practitioner and mem-ber of the prestigious rank of Senior Advocate of Nigeria.

Governor Godswill Akpa-bio and other lawyer-gover-nors – Dr. Gabriel Suswam (Benue), Ibrahim Shema (Katsina), Sullivan Chime (Enugu) are also expected at the event as special execu-tive guests with legal back-ground.

The president and com-mander in chief of the armed forces of Nigeria, Dr. Goodluck Jonathan, GCFR, is expected as the special

guest of honour at the event.The maiden lecture

which held in Abuja was delivered by legal luminary and Chairman of Associa-tion of Senior Advocates of Nigeria (SAN), Chief Rich-ard Akinjide.

He spoke on Africa and the Challenges of 21st Cen-tury.

The paper was exhaus-tively discussed by eminent Nigerians in attendance including Chief Mike Oze-khome (SAN), Chief Niyi Akintola (SAN), Chief Mike

Ahamba (SAN), among oth-ers.

The maiden event which held at NICON Luxury hotel in Abuja was attended by President Jonathan Good-luck, represented by the Minister of Information, Mr. Labaran Maku, who commended the editorial quality of the newspaper, the then serving CJN, Jus-tice Musdapher, the Attor-ney-General of the Federa-tion and Minister of Justice, Mr. Bello Adoke (SAN) and among several others.

on its total failure between September 8 and November 26, 2012.

“Report made by NA-MA’s General Manager, Safety Management Sys-tem/Quality Assurance to the General Manager, Elec-tronics Communication on terrible working condition of 127.3MHZ at 1305UTC on 15th November, 2012.”

NATCA challenged Udoh to urgently declare national emergency on Air Traffic Services commu-nication facilities within Nigerian airspace to miti-gate the communication situation degenerating into distress stage thereby threatening the lives of air travellers and general pub-lic at large.

It also charged NAMA to provide reliable VHF radios and backups for the two Area Control Centres (Kano and Lagos) without further delay or in the interim and until effective VHF radios are pro-vided, downgrade the two

ACCs to Flight Information Centres equipped with HF radios like 8903KHz for the provision of Flight Informa-tion Service (FIS) only.

The General Manager, Public Affairs, NAMA, Mr. Supo Atobatele, agreed that the current radio frequency – 27.3 MHz for the Lagos Area Control Centre – is at present congested follow-ing heavy traffic within the southern airspace.

He said the deconges-tion of the radio frequency would commence by Decem-ber 17 with the integrity of the system ascertained.

The management said that the best solution was to create additional frequen-cies to allow for effective radio communication be-tween pilots and air traffic on controllers.

NAMA said to improve the traffic services to pi-lots, the management had raised another frequency on 120.9MHz, emphasising that this would help to de-congest the current one.

National Mirror www.nationalmirroronline.net6 National News Monday, December 10, 2012

GEORGE OJI ABUJA

The Senate has re-futed claims that it was under pressure

not to commence delib-erations on the Petroleum Industry Bill (PIB), say-ing that the delay on the bill was occasioned by the greater need to deal con-clusively with the budget appropriation bill before the end of the year.

The PIB was transmit-

ted to both chambers of the National Assembly by President Goodluck Jonathan, in July this year before the lawmak-ers embarked on their two months annual vacation.

But, while the House of Representatives com-menced debate on the bill upon resumption and has progressed to the third reading stage, the Senate is yet to begin deliberation on the bill.

This development ig-

nited speculations that the international oil com-panies and other stake-holders, who are opposed to some of the provisions of the bill, are mounting pressure through the up-per house, to frustrate the passage of the bill into law.

However, Senate Com-mittee Chairman on Rules and Business, Senator Ita Enang, explained to National Mirror that the Senate was not under any form of pressure to frus-

trate the passage of the bill into law by anybody or group.

He said what has de-layed deliberations on the bill was the priority the red chamber, albeit, the entire National Assembly, placed on the passage of the 2013 appropriation bill.

Enang said as a result of the expectations of Ni-gerians and the desire of the National Assembly to break away from the past, both chambers of the par-

liament are determined to ensure that the appropria-tion bill was passed into law before the end of the year.

“If you observe in our last notice paper, we had it there, but a few things happened, particularly the stress of appropriation bill so we could not take it. But we are going to list it from December 10. I am sure we will be able to take it and pass it to the com-mittees,” Enang said.

Continuing he said; “Even if we take it now and pass it to the commit-tees, they will still have to wait to complete the ap-propriation before they start work on it.”

Reminded about the fast pace of their colleagues in the House of Representa-tives, Enang interjected; “We are always faster with bills than the house and I assure you that we will surpass your expecta-tions.”

WOLE ADEDEJIILORIN

The Nigerian Bar As-sociation (NBA), Ilorin branch, at the

weekend, said the recent revelation by the Minister of Finance, Dr. Ngozi Okon-jo-Iweala, that N232 billion was illegally collected by 50 oil marketers should not be swept under the carpet.

The NBA said the matter must not end without pros-ecution in the country’s law court.

The association also warned the Federal Gov-ernment not to increase the pump price of petroleum products so that it does not stir the anger of the people of the country.

Chairman of the branch, Rafiu Balogun, who made known the posi-tion of the association at the weekend, said any at-tempt to increase the fuel pump price would be “ag-gressively resisted.”

He said the recovering of the N29 billion by debt swap from those who col-lected it illegally as stated

FRANCIS FAMOROTI

The security agents at the Lagos University Teaching Hospital,

LUTH, yesterday foiled at-tempts by an unidentified person to gain access into the private ward of the Chairman of Bi-Courtney Limited, Dr. Wale Babalakin (SAN), at the hospital.

It was learnt that the strange man had beaten the security about noon, and was about entering Ba-balakin’s private ward when some nurses trailed him to the door of the ward and enquired about his mission.

A source said the man’s explanation was unconvinc-ing, prompting the LUTH officials to invite policemen attached to the hospital to the scene.

It was gathered that when the security men arrived, they were in the process of rough handling the strange man and he quickly iden-tified himself. The source said the man claimed to be a plain cloth operative with the Economic and Financial Crimes Commission, EFCC.

The source added that the EFCC and other armed men later accosted the strange man and led him away. It was learnt that nobody could ascertain the mission of the yet-to-be identified operative, who claimed to be an EFCC official.

The hospital authorities could not be reached for comments. At press time, attempts to speak with the EFCC’s spokesman, Wilson Uwajaren, failed, as his two phone lines were switched off.

CHIDI UGWUABUJA

Despites claims by the Nigerian National Petroleum Corpo-

ration (NNPC) that it had surpassed its gas to power aspirations, Power Hold-ing Company of Nigeria (PHCN), successor genera-tion companies otherwise known as GENCOs have lamented that some Nigeria Independent Power Projects (NIPPs) cannot run due to gas shortage.

It will be recalled that NNPC’s Group Managing Director, Engineer Andrew Yakubu, recently claimed that the corporation had exceeded its target for ‘Gas-to-Power’ aspirations and was taking steps to grow the nation’s crude oil reserves to 40 billion barrels and daily crude oil production to four million barrels per day.

But, the Chief Execu-tive Officer of Egbin Power plant, Engr. Mike Uzoigwe, at the weekend, said some of the NIPP units which have been fully commissioned could not run due to short-age of gas.

“It is pertinent to note here that some NIPP units have been fully commis-sioned but cannot run due to gas supply associated problems. The Geregu power plants still experiencees gas supply shortage,” he said.

Uzoigwe, who was speak-ing on behalf of the GEN-COs during the signing of performance contract be-tween government and gen-eration companies’ agencies and parastatals under the Ministry of Power, noted that barring any unforeseen inhibitions, Nigeria’s power generation capacity would hit a record 6, 873 megawatts by the end of 2013.

by Okonjo-Iweala was not satisfactory and called for a blacklisting of the market-ers aside from their pros-ecution.

Balogun commended the efforts of the government to sanitise the oil sector and asked the government to be more transparent to ensure that there is no sacred cow.

His words: “The cor-ruption in the oil sector

is another vexing issue of national importance which must be tackled headlong by the Federal Government. The subsidy scam and the colossal sum of money lost to fuel subsidy are worri-some and saddening.

“We commend the Fed-eral Government for the ef-forts to sanitise the sector; the prosecution of the err-ing individuals and compa-

nies involved is commend-able. We, however, warned that there must not be any sacred cow and the govern-ment must be as transpar-ent as possible.

“That takes us to the Rib-adu Report; the Federal Gov-ernment should not jettison the report as it could still be useful in the series of inves-tigations into the fraud and the perpetrators.”

UDO ONYEKA

Banking sector lend-ing to the agricul-ture sector has in-

creased from 1.5 per cent of total industry portfolio to 3.5 per cent in 2012, ac-cording to the Central Bank of Nigeria.

Governor of the Central Bank (CBN) and Chair-man of the Bankers’ Com-mittee, Mallam Lamido Sanusi, disclosed this at the end of the fourth an-nual Bankers’ Committee Retreat in Calabar, at the weekend.

He said banks have out-lined strategies to further increase agric lending to seven per cent of industry portfolio by next year and to 10 per cent by 2017.

His words: “With a vi-sion for a better future for Nigerians, the Bankers’ Committee is committed to a lead role as catalyst for economic develop-ment, improving access to finance by the unbanked and under-banked popula-tion and the growth of the real sector.

“The Bankers’ Com-mittee has focused on the power, agriculture and

transport infrastructure sectors for driving growth and identified opportuni-ties for financial system intervention in the trans-formation of these critical sectors of the economy.

“Through collaboration with the government, the banking community and real sector stakeholders, the Bankers’ Committee programmes and initia-tives have contributed to tangible improvements in providing the enabling environment and private sector funding for the power and agriculture sec-tors.”

Don’t cover up N232bn illegal payment to oil marketers –NBA

Bank lending to agric rises to 3.5% –CBN

LUTH foils attempt to break into Babalakin’s private ward

Power generation: GENCOs lament gas shortage

Why Senate can’t act on PIB now –Committee

L-R: Executive Director, Tabitha Cumi Foundation Arc. Tayo Erinle; member Board of Trustees, Hajia Aisha Alkali and paediatric specialist, National Hospital Abuja, Dr. Agwube Ahmadu, during the 5th anniversary of promoting value of girls education in Nigeria in Abuja at the weekend. PHOTO: ROTIMI OSASONA

National Mirrorwww.nationalmirroronline.net 7Monday, December 10, 2012 News

• Seven-day warning strike begins tomorrowOLUFEMI ADEOSUNABUJA

The country’s uni-versity system may witness another

round of crisis, as a meet-ing between the Federal Government and the non-teaching staff unions in the universities to resolve the pending issues and

avert planned strike over the Earned Allowance and the report of committee on NEEDS assessment in the institutions ended in a deadlock.

Following the stale-mate, the unions, which comprise Senior Staff

Association of Nigerian Universities, SSANU, Non-Academic Staff Union of Educational and Associat-ed Institutions, NASU, and the National Association of Academic Technologists, NAAT, have resolved to be-gin a seven-day warning strike tomorrow.

The meeting was held at the office of the Secretary to the Government of the Federation, SGF, Senator Anyim Pius Anyim, late on Friday night.

President of SSANU, Comrade Samson Ugwoke, President of NAAT, Com-rade Sani Suleiman, and the General Secretary of

NASU, Comrade Peter Ad-eyemi, who spoke at the end of the parley, said the meeting presided over by Anyim, with the Minister of Education, Prof. Ruq-quatu Rufai, in attendance, could not reach any mean-ingful conclusion.

They added that the warning strike would go ahead as planned.

While Adeyemi said his union had invited its members to a meeting at the University of Ibadan tomorrow to deliberate on the outcome of the meeting with the government and decide on the way forward, Ugwoke said the unions

would use today to mobil-ise their members across the country for the com-mencement of the strike tomorrow.

On his part, Suleiman said the decision to go on strike was unchanged, ex-plaining that the union had directed its branches to hold congress meeting today.

Adeyemi said in a short text message to National Mirror that: “We have al-ready invited NASU mem-bers in the universities to a meeting in Ibadan on Tues-day (tomorrow) to deliber-ate on the outcome of our meeting with the SGF. The meeting will decide on the way forward. Until then, nothing changes.”

Ugwoke said the unions discovered from the meet-ing that the government had no intention to pay the Earned Allowance, adding that the government had not been sincere with them.

The SSANU president wondered why the gov-ernment kept on inviting them to meetings, promis-ing them all along when it knew it had no intention to pay the money.

He said: “They let us know at the meeting that they have no intention of paying the money. All the while, they have been de-ceiving us. They told us that they cannot do any-thing about it now, since the budget is before the Na-tional Assembly.

TOLA AKINMUTIMI ABUJA

The National Bureau of Statistics (NBS) has appealed to cor-

porate bodies and other stakeholders for support for its ongoing 2nd and 3rd Quarters National Job Creation Survey by providing necessary in-formation that would help it produce data on the Ni-gerian labour market.

The survey will cover the informal and formal sectors in the 36 states and the Federal Capital Terri-tory (FCT).

The 14-day exercise, which commenced on De-cember 5, is targeted at improving the available in-formation and data on the Nigerian labour market through the application of appropriate statistical methodology for tracking variability in the number

of jobs created or lost ev-ery quarter.

The exercise, which is being conducted in col-laboration with National Planning Commission, the Central Bank of Nigeria, the Office of Chief Eco-nomic Adviser to the Presi-dent and Ministry of La-bour and Productivity, will cover two quarters - March to June, 2012 and June to Septembers 2012 - and in-volve field officers’ visits to selected establishments, households and public in-stitutions during which the required data would be collected.

On the need for stake-holders’ collaboration, the NBS said: “The NBS hereby solicits from estab-lishments/households the necessary cooperation for the success of this exer-cise, particularly in com-pleting the questionnaires correctly.

MURITALA AYINLA

President Goodluck Jonathan has said that if Nigerians

could come together and pray, challenges confronting the nation would be overcome.

Jonathan, who spoke via multi-media during the 7th edition of “The Experience” concert held at the Tafawa Balewa Square (TBS), congratu-lated Pastor Paul Ad-efarasin on the success-ful conduct of the music concert.

Jonathan said the year-ly event is an indication that there is nothing the country cannot accom-plish if Nigerians come together and pray on the

nation’s challenges.His words: “It was a

magnificent spectacle to see every tribe and tongue gather together all praising one God with one voice. This is the Ni-geria we strive for and occasions such as “The Experience” are the evi-dence that the Nigeria we dream of can be attained.

OBIORA IFOHABUJA

Members of the Peoples Demo-cratic Move-

ment (PDM), a political group formed by the late Shehu Yar’Ada, met at the weekend in Abuja with a promise to enthrone ro-bust leadership in Nigeria in 2015.

Members of the group agreed to work together to enthrone good leadership as a testimony of the phi-losophy of the late Shehu Yar’Adua.

A source at the meet-ing said that former Chairman of the Peoples Democratic Party (PDP)’s Board of Trustee, Chief Anthony Anenih, has been tipped to chair the newly formed Elders Council of the PDM.

Speaking at the meet-ing held at the Shehu Yar’Adua Center in Abu-ja, PDM Chairman, Bode Ajewole, said the political association would decide the nation’s leadership in 2015 and would not be used as a mere rubber stamp.

As the World marks the Anti-Corrup-tion Day today,

Chairman of the Indepen-dent Corrupt Practices and Other Related Offenc-es Commission (ICPC), Mr Ekpo Nta, has called on Nigerians to develop a new mindset in the anti-corruption war.

He advised Nigerians to see the recent rating of Nigeria as one of the most corrupt nations in the world by Trans-parency International report as a wakeup call that should not be seen as dampening “our enthusi-asm, but to spur us in the anti-corruption war to zero level.”

PDM meets ahead of 2015, promises robust leadership

ICPC seeks support for anti-graft war

NBS canvasses stakeholders’ support for job creation survey

Prayer’ll solve Nigeria’s problems –Jonathan

FG, varsity workers’ meeting ends in stalemate

Tobore Ovuorie of National Mirror giving a speech after winning the Health Category award of Wole Soyinka Award for Investigative Journalist held in Abeokuta, Ogun State, yesterday.

Jonathan

IJEOMA EZEIKEABUJA

The National Univer-sities Commission (NUC) at the week-

end gave letter of recogni-tion to the first technical university in Nigeria.

The NUC Executive Sec-retary, Prof Julius Okojie, while presenting the let-ter to Oyo State Governor Abiola Ajimobi Abuja, la-mented that university of technologies in the coun-try had lost focus of their establishment.

Stressing that Nigeria is in dire need of techni-cal universities, Okojie de-cried the dearth of indus-tries for practical learning in Nigeria, adding that the development contributed to the continued dwindling of academic standard.

He, therefore, called on Governor Ajimobi to provide friendly learning environment for students, promising that NUC would necessary supports to ensure the success of the university.

Receiving the letter, the governor said the techni-cal university, which is the first in the country, will be very unique in the sense that its curriculum would include courses that nor-mally not available in Ni-geria regular universities such as mechatronics, cy-berspace security, aircraft engineering and other unique courses.

weekend that the gestures were indicative that the PDP-controlled Federal Government “is indeed non-partisan on issues concerning the welfare of Nigerians in any part of the country.”

The PDP, however, re-gretted that the Lagos State Government is rath-er playing politics with the gestures meant to allevi-ate the hardship that resi-dents may face due to the partial removal of petro-leum subsidy by not put-ting up the SURE-P buses into use for the public.

ABIODUN NEJOADO EKITI

For not meeting the required standard, the Ekiti State

Government has shut 35 more private schools.

The development brought the number of private schools shut by the state government to 166.

Commissioner for Ed-ucation, Dr Eniola Ajayi, who disclosed this at the weekend in Ado-Ekiti, warned that the state government would con-tinually shut substan-dard and unregistered schools.

Ajayi said the mini-mum standard expected from private school pro-prietors included: opera-tion on their permanent site after three years of establishment, registra-tion by government, four standard classrooms at inception, functional library, separate labora-tories for Physics, Chem-istry and Biology for sec-ondary schools.

Others included avail-ability of quality teach-ers and principal with at least five years teaching experience, as well as ad-equate and suitable fur-niture, coupled with the availability of at least four standard toilets.

The commissioner, who reiterated Governor Kayode Fayemi, admin-istration’s commitment to the provision of a con-ducive learning environ-ment that would enable student perform excel-lently, stressed that the government would not compromise the future of children.

NUC approves Oyo technical varsity

PDP said the inability to differentiate between of-fice and its occupant led ACN to say the former planned to erect mansions for its leaders, saying: “This comment by ACN is a further confirmation of its characteristic deceptive disposition and actions.”

PDP spokesman, Taofeek Gani, said: “For a party whose government in Lagos State is erecting as part of pension gifts to Bola Tinubu, the im-mediate past governor, a

magnificent mansion in a choice area of the state on two acres of land and on 400 square metres of reclaimed waterfront on which the Lagos State Government has so far spent N7 billion, there is no other way to describe the ACN other than being a party of deceitful and double-faced individuals.”

PDP recalled that shortly before he was re-elected in 2003 as governor, Tinubu constructed a new Gover-nor’s Lodge for over N3 bil-

lion and the pension law passed for former governors excluded the first executive governor of Lagos State, Al-haji Lateef Jakande.

It said: “We will like to alert the good people of Nigeria to the hypocriti-cal and deceptive char-acter of ACN and its re-peated acts of deliberate falsehood and hypocrisy. As the late Chief Awolowo has rightly explained, it is a sign of weakness and ut-ter dementia for the ACN to attempt to commend

FRANCIS SUBERU AND MURITALA AYINLA

The Lagos State Po-lice Command has warned commer-

cial motorcyclists popu-larly called Okada riders to shun their planned mass protest in the inter-est of peace.

In a statement signed yesterday by the com-mand’s Public Relations Officer, Ngozi Braide, the police warned that who-

ever is found disturbing the public peace would be dealt with.

The statement reads: “The attention of the La-gos State Police Command has been drawn to insinu-ations and rumours that Okada riders will be going on rampage tomorrow, 10th December, 2012 (today).

“In the interest of peace, they are warned to desist from such plans as whoever is found wanting or disturbing the peace of the state will be dealt with

in accordance with the laws of the land.

“The Commissioner of Police is hereby advising all Okada riders to remain calm and embrace peace since their matter is al-ready in court and would be decided soon.

Meanwhile, the reap-pearance of commercial motorcycles on prohibited roads in has begun to worry Lagos State Government.

National Mirror learnt that the state government is not happy with the re-

HAKEEM GBADAMOSIAKURE

Sequel to the assurance by the people of Ilaje in the coastal area of

Ondo State to cooperate and provide adequate security for the officials of Chevron Oil Company, indication emerged that exploration on Omuro/Ojuimole Oil Fields in the area will soon begin. The agreement was reached during a peace meeting held

at the palace of Olugbo of Ugbo, Oba Fredrick Obat-eru Akinruntan.

Speaking at the meet-ing, Commissioner for the Environment in Ondo State, Chief Sola Ebiseeni, noted that the essence of the meeting was to create mutual understanding be-tween the host community and the oil company.

Ebiseni said the gov-ernment would continue to encourage foreign in-

vestors in the state and commended the people for their peaceful co-existence and support at all times.

Also speaking, Oba Akinruntan, who described the people of Ilaje as peace-loving, said that they had signed a peace pact.

He assured the oil firm of adequate security and support.

However, the communi-qué signed by the residents of the area and the commis-

sioner, as well as the Perma-nent Secretary in the Minis-try of the Environment, Mr. Olufemi Bosede, was read.

The communiqué, inter-preted to the people in their mother tongue, was jointly embraced by all.

It will be recalled that Chevron Oil Company stopped exploration in Omu-ro/Ojuimole Oil Field in 2002 over what the company’s management called insecu-rity of lives and property.

ACN lacks credibility to comment on VP’s residence –PDPHails FG for donating SURE-P buses, N8bn to Lagos

Lagos police warn Okada riders to shun planned protest

Ondo coastal community, Chevron sign peace pact

itself to the public, to re-sort to negative process of falsehood and hypocrisy. The time has come for Ni-gerians to know ACN for what it represents-false-hood and deceit.”

Meanwhile, PDP com-mended the Federal Gov-ernment for its determina-tion to ease transportation problems in Lagos State by donating SURE-P luxu-ry buses as well as the re-lease of over N8 billion for the provision of potable water for residents.

The party spokesman, Taofeek Gani, said at the

OLAJIDE OMOJOLOMOJU

The Peoples Demo-cratic Party (PDP) has described the

Action Congress of Nige-ria (ACN) as a deceptive party following the latter’s comments on the proposed official residence for Vice-President Namadi Sambo.

PDP said it was sad that ACN could not differenti-ate between the office of the Vice-President and the occupant of the office.

appearance of the motor-cyclists on the prohibited routes, thus blaming the Commissioner for Police, Umar Manko, for subtle enforcement of the state traffic law after the initial enforcement which saw the impoundment of no fewer than 5,000 motorcycles.

A source, who did not want his name mentioned, said: “Really, the state exec-utive council is not happy on continuous operation of motorcycles after the en-forcement of the law.

L-R: Managing Director/Chief Executive Officer, MediaCom Nigeria, Dr. Ken Onyeali-Ikpe; his wife, Nneka and Chairman, Troyka Group, Mr. Biodun Shobanjo, during a launch to mark Onyeali-Ikpe’s 50th birthday in Lagos, at the weekend. PHOTO: YINKA ADEPARUSI

Ekiti shuts 35 substandard schools

Okojie

National Mirror www.nationalmirroronline.netMonday, December 10, 20128 South West

National Mirrorwww.nationalmirroronline.net 9Monday, December 10, 2012 South West

Housewife in police net for dumping day-old baby

OLUSEGUN KOIKI

Contrary to claims by the management of Dana Air that

the delay in the payment of $30, 000 compensations to some families of the ill-fated crash of Sunday, June 3, 2012, was caused by multiple claims; some of the families of the vic-tims have denied such claim.

National Mirror gath-ered over the weekend that at least 40 families of the victims have employed the services of a lawyer to press home their case and claiming that the airline

was avoiding paying com-pensations to them.

It was also gathered that about five families have submitted their let-ters of administration to the office of the airline.

Receipt of the letter of administration was one of the conditions given by the solicitors of the air-lines to the victims’ fami-lies for them to receive the remaining balance of $70, 000 to be paid by one of its insurance companies, Lloyds of London.

Our correspondent gathered through a source close to one of the agencies in the industry that the 40 families have secured the

services of M. O. Awoniyi & Co to press home their demands and insisted that all necessary documents that would aid the collec-tion of the initial payment of $30, 000 compensations had been submitted to the airlines.

The same families, it was gathered, had peti-tioned the Senate Com-mittee on Aviation on the deliberate refusal of the airline to pay them the ini-tial compensation.

Dana Air management has overtime claimed that internal wranglings among the victims’ fami-lies was part of the rea-sons why it was not able to

pay some of the families, but noted that 80 families have so far been compen-sated by the airline.

An online statement once signed by the Media Manager of the airline, Mr. Tony Usidamen, stated that some family mem-bers, in order to receive the sum, came forward with unverified documents, which identified them as the next-of-kin, but were later exposed through the verification process.

Usidamen, assured that the airline had adequate insurance covers for the aircraft, adding that funds are on ground for compen-sation purposes.

Dana Air: 40 families deny airline’s multiple claims

L-R: Bride’s Father and Human Rights Activist, Mr. Femi Falana (SAN); Ekiti State Governor Kayode Fayemi; the couple, Oluwafolakemi and Oluwajuwalo Majekodunmi; Oyo State Governor Abiola Ajimobi; wife, Florence and mother of the bride, Mrs. Funmi Falana, during the wedding reception of Falana’s daughter in Lagos, at the weekend.

ABIODUN NEJOADO EKITI

A 26-year-old house-wife at Ikere Ekiti, Mrs. Adejoke Ojo,

has said that her inability to buy child care materi-als and the fear that she may not be able to fend for the baby were the reasons she dumped her day-old baby boy in a bush shortly after delivery.

The woman, who went into labour on her own, was delivered of the baby with no midwife or any as-sistance last Wednesday in her Ikoyi Street, Ikere

Ekiti home, said she came to that conclusion because she feared she would not be able to take care of the baby with three other children.

Adejoke, who is at present being held at the Ekiti State Police Com-mand Headquarters in Ado Ekiti, said there was no money to take care of herself even when she was pregnant. This, she said accounted for her in-ability to register at any hospital for antenatal and post-natal treatment.

According to her, she did not seek the assis-tance of family members

ICPC summons Speaker over alleged contract scam

Ogun to install power plants to boost water supply

Traffi c law: 35,000 enrol in Lagos driving institute

FEMI OYEWESOABEOKUTA

The Independent Cor-rupt Practices and Other Related Of-

fences Commission(ICPC) has summoned the Speaker of the Ogun State House of Assembly, Hon. Suraj Ishola Adekunbi, over his alleged involvement in inflating prices of the 28 official cars bought for the state law-makers.

The Speaker was said to have inflated the contract for the purchase of the 28 Toyota Avensis cars to the tune of N6 million each.

National Mirror reliably gathered that the ICPC’s in-vitation was sequel to a pe-tition written against him over the matter.

It was further gathered that the Speaker will be appearing before the com-mission’s Head of Inves-tigation today in Abuja,

along with the Clerk of the House, Muyiwa Adenopo, the Deputy Clerk as well as some principal officers of the Ogun State House of Assembly.

As at the time of filing this report, it was gathered that ICPC’s letter summon-ing the Speaker has been served on him.

Part of the allegation in the petition against the Speaker reads: “For confer-ring unfair advantage and inflating the price of 28 Toy-ota Avensis car bought for the honourable members as official car to the inflated amount of N6 million per one Avensis.”

When contacted, the Me-dia Consultant/National Coordinator of the Nation-al Anti-Corruption Volun-teer Corps, Folu Olamiti, confirmed the story, stress-ing that the speaker would be a guest of the commis-sion today.

Ogun State govern-ment said it has perfected plans

to install power plants in each of its water booster stations in the state before the end of the first quarter of 2013.

The planned light rail project, to boost transpor-tation system in the state is also to take off during the year.

The action, accord-ing to the Commissioner for Special Duties, Chief Olu Odeyemi, is aimed at ending decades of con-

vulsive supply of porta-ble water to residents of the state.

The commissioner dis-closed this while defend-ing his ministry’s 2013 budget at the Ogun State House of Assembly.

Odeyemi said the state government would over-haul and complete the in-stallation of new power plants at the booster sta-tions to ensure uninter-rupted supply of electrici-ty to pump water regularly to all the nooks and cran-nies of the state.

MURITALA AYINLA

The Chief Executive Officer of the Lagos State Drivers’ In-

stitute (LASDRI), Ayodeji Peter Oyedokun, has said that over 35,000 people have voluntarily enrolled in the state-owned driving insti-tutes across the state.

The state had earlier made it compulsory, cour-tesy of its road traffic law, for drivers to attend the drivers’ institute once in a year.

Speaking exclusively with National Mirror, dur-ing the visit of the officials of the state Ministry of Transportation to patients of the Emergency Ward at the Lagos State University Teaching Hospital (LA-SUTH), the LASDRI boss said each of the institutes received no fewer than 75

people daily.His words: “We have not

really started enforcing the law on drivers in the state, but people are voluntarily complying.

“Right now, we have over 35,000 on our data base. The enforcement of the Lagos Traffic Law has really en-hanced the patronage. We have five centres located in Epe, Ikorodu, Badagry, Ikeja and Lagos Island.

“It is a behaviour mo-tivation process that is measured through the use of questionnaires we send to corporate organisations where some of the trained drivers came from.

“The responses we are getting show that people that sent them are getting interested in the whole pro-gramme. They are seeing the changes in the behav-iour of drivers they send for the training.”

because she did not want to add to her poor parents’ burden in the village as she could not assist them.

Her husband, Mr. Dada Ojo, who has also been ar-rested by the police, said he was not aware of the inci-dent as his wife did not tell him of her plan to dump the baby in the bush.

He said when he re-turned home from work in the evening and ob-served that his wife had given birth, he asked of the baby to which the woman replied that the baby boy was dead.

The husband, who said he wondered what could have led his wife to the act, said the woman was not hungry as she claimed; saying he was always giv-

ing her money for food from his daily revenue.

He, however, said the woman had been jobless since her petty business collapsed about three years ago, the revival of which he said had not been possible in view of his condition as a low-in-come earner.

A passerby, who saw the baby crying in the bush with congealed blood on its body, had alerted the Ikere Local Government author-ities, who in turn went for the baby and took it to the Basic Health Centre where the boy was attended to.

Sources said the baby, who was responding to treatment as at the time of filing this report, was in stable condition.

National Mirror www.nationalmirroronline.net

CHARLES OKEKEAWKA

Anambra State Gov-ernor Peter Obi has reiterated his ad-

ministration’s readiness to conduct local government election as soon as all legal impediments are settled.

He, therefore, appealed to parties still in courts to withdraw their cases.

He spoke yesterday while answering questions from journalists during the out-ing service for the late Mr. Azubike Nwebili, the hus-band of the Speaker of the state House of Assembly, Hon. Chinwe Nwebili, at St. Patrick’s Catholic Church, Iyiowa Odekpe.

Commenting on the abo-lition of joint account and direct allocation of money to local governments, Obi said he supports the move as long as it takes care the interest of teachers.

The governor, however, commended the people of the state for their support for the many on-going proj-ects being executed by the government.

He reminded those who park vehicles along the Nk-por axis of Onitsha-Enugu dual carriage way that any one not removed by yester-day would be assumed to be government property and would be forcefully removed to pave the way for the construction of the road.

10 South East Monday, December 10, 2012

CHARLES OKEKEAWKA

The monthly meet-ing of Awka branch of Nigeria Bar As-

sociation (NBA) held last Saturday was marred with violence involving support-ers of two factions fighting for supremacy.

It was gathered that dur-ing the fighting, some law-

yers were injured.Sources told National

Mirror that trouble began when one of the lawyers fighting to remove the branch chairman from his position was distributing a write-up to members.

The lawyer was sudden-ly confronted and attacked by an irate group, which in-flicted injuries on him.

As the fight broke out,

there was confusion as people scampered for safety. The meeting was immedi-ately terminated.

The matter has been re-ported at the “B” Division of the Anambra State Po-lice Command.

The faction whose mem-bers were injured during the fracas reported the incident to the police and petitioned the National Ju-

dicial Council (NJC) and other relevant agencies on the issue.

The crisis in the Awka branch of NBA has created two factions. One group is loyal to the Chairman, S.U.S Mbanaso and the oth-er group comprises those agitating to remove him from the post.

The crisis has defiled all solutions, including both

the intervention of elders of the association and Na-tional Executive Commit-tee of NBA.

The crisis began when some members, who ac-cused the branch chairman of acts of high-handedness, purportedly met and passed a resolution to remove him.

Since then, both fac-tions have been trading al-legations and insults.

Lawyers injured as violence disrupts NBA meeting

DENNIS AGBOENUGU

The Congress for Pro-gressives Change (CPC) in Enugu

State has raised the alarm over the fate of the coal-to-power-project of Presi-dent Goodluck Jonathan, following the alleged mis-appropriation of funds

budgeted for its feasibility studies.

In a statement by its governorship candidate in Enugu State, Osita Oke-chukwu, the party said it was alarmed that the proj-ect might be dead on ar-rival as the N972 million duly appropriated in the 2012 federal budget for the feasibility study of coal de-

posits in Enugu, Kogi and Gombe states axis was al-legedly being misappropri-ated.

Okechukwu, who is also the National Publicity Sec-retary of Conference of Nigerian Political Parties (CNPP), alleged that N138 million had already been spent on spurious sub-heads and the outstand-

ing sum schemed to be siphoned before December 31, 2012.

Okechukwu said: “We had hoped that the gross unemployment in Enu-gu State and likewise in Kogi, Gombe and all the adjourning states will be ameliorated with the Coal-Fired-Power-Plants when President Goodluck Jona-

than made this a hallmark of his Road Map to Power Sector Reform.

“It could be recalled that an Inter-Ministerial-Committee, comprising of Power, Solid Minerals, Environment and Water Resources was set up with the mandate to work mo-dalities to utilize coal to power.”

Poverty, hunger affl ict West Africa despite resources –Fashola

Corruption hampering coal-to-power project –CPC

Governor Theodore Orji of Abia State has said that the

era of spending public funds on ad-hoc projects was over. Orji spoke while inaugurating electricity and borehole projects exe-cuted at Umuuwaya-Mba-ra in Amuzukwu Area of Umuahia North at the weekend.

The News Agency of Ni-geria (NAN) reports that the projects were part of those initiated by Hon. Oluchi Ibeji, a member of the House of Represen-tatives representing Ik-wuano/Umuahia Federal Constituency.

Governor Orji, repre-sented by the Commis-sioner for Public Util-ity, Mr Vigilus Nwankwo, said Abia State Govern-ment would only embark on quality and enduring project known to the ad-ministration as “legacy projects’.

He said that his admin-istration had embarked on a number of projects to reposition the economy and social ambiance of the people of Abia.

The governor said: “When we came on board, the contract for the execu-tion of 133/132 injunction substation at Ohiaya was moving at a snail speed.

“Though a federal proj-ect, we awarded contract for the provision of five feeders, now assisting evacuation of power from Alaoji to Umuahia.’’

Orji said that since the projects became function-al, Umuahia and environs now enjoy steady electric-ity supply.

He urged the benefiting community, especially the youth to take advantage of the electricity project to establish small scale firms to support govern-ment in job creation.

No more ad-hoc projects in Abia –Orji

Orji

L-R: Former President-General of Ohaneze-Ndigbo, Chief Eze Ozobu; President, Igbo Youth Movement, Mr. Elliot Uko and former Military Governor of Old Imo State, Rear Admiral Ndubisi Kanu (rtd), at the 2012 Igbo Youth Movement colloquium held in Enugu, yesterday. PHOTO: NAN

I’m ready for LG poll, says Obi

•IYM honours AchebeGovernor Babatunde Raji Fashola of La-gos State has iden-

tified conflicts, fuelled by desire for dominance, terri-torial control and economic benefit, as responsible for the underdevelopment of West Africa.

He said the region, blessed with about 300 mil-lion people, all types of nat-ural resources such as oil, gas, coffee, cocoa, timber, gold, etc and access to wa-ter, especially the Atlantic Ocean, had until recently made global headlines for the wrong reasons.

Fashola spoke on the top-ic: “Regime Change, Ethno-Religious Insurgency and State-craft in the 21st Cen-

tury,” at the 2012 Chinua Achebe Colloquium on Africa held at Brown Uni-versity, Providence, Rhode Island United States on Fri-day.

He said: “Apart from hunger and poverty ex-perienced by a people so blessed; and I am not happy to say this, peacekeeping operations have consumed several millions of dollars as perhaps the only success-es that can come out of a re-gion of such vast resources.

“These are peacekeeping missions to end the mind-less slaughter of innocent men, women and children who have been victims of

mindless orgies of violence in the pursuit of crass and brazen ambition under the guise of attempted gover-nance.”

Meanwhile, the Igbo Youth Movement, IYM, in Enugu on yesterday con-ferred an award: “The Great Igbo Icon,’’ on Prof. Chinua Achebe, a renowned novel-ist.

The award, according to the News Agency of Nige-ria, NAN, was presented at the organisation’s 2012 End of Year Colloquium.

The IYM also gave a leadership award to re-tired Adm. Ndubuisi Kanu, while it recognised Senator

Uche Chukwumerije, as the “People’s Hero”.

Its President, Mr. Elliot Uko, said in his opening remarks that the award on Achebe was to recognise his truthfulness in his writing.

Uko described Achebe as a great writer who had put the tradition of the Igbo in the contemporary map of the world with his writing.

He said the literary icon was worth celebrating be-cause he portrayed things succinctly as they occurred, adding that he deserved more than the award.

On Kanu, the youth leader said he was given the award because he champi-oned the cause of the Igbo selflessly and fearlessly.

Akwa Ibom community rejects Mobil’s relief materialsIbeno, an oil-producing

community in Akwa Ibom, has rejected the

relief materials presented to it by Mobil Producing Ni-geria (MPN), to cushion the effects of the recent oil spill in the area.

The News Agency of Ni-geria (NAN) reports that the oil company had, a few days ago, announced that it would send relief materials

to communities impacted by the November 9, oil spill from its facilities.

Many communities in the nine local government areas in the state were af-fected by the spill and it was learnt that Mobil had dis-tributed the relief items to more than 90 per cent of the affected areas.

But Ibeno community turned down the gifts on

the ground that the com-pany said that it was do-nating the materials “on humanitarian ground and not because it is liable for the spill.”

According to the Head of the community, Chief Ukott Esenem, the oil company said that the do-nation of the relief mate-rials did not necessarily mean that it was respon-

sible for the spill.Mobil had, in a state-

ment by its Communica-tions Manager, Mr. Nigel Cookey-Gam, said that the items were meant to pro-vide temporary relief to the spill victims.

Meanwhile, a member of the Correspondents’ Chapel of the Nigerian Union of Journalists and a reporter with The Nation

newspapers in Akwa Ibom State, Kazeem Ibrahim, narrowly escaped death at the weekend.

Ibrahim, like other jour-nalists, was at the Govern-ment House, Uyo, venue of the church service to cover the golden jubilee celebration and 50th birth-day of Governor Godswill Akpabio.

His reason for coming to cover the event was,

OLUFEMI ADEOSUNABUJA

The waste to wealth project of the Na-tional Environmen-

tal Standards and Regula-tion Enforcement Agency (NESREA) received a boost at the weekend with the commissioning of another demonstration waste con-trol project in Port Har-court, Rivers State.

It will be recalled that the Federal Government had, sometimes in June this year, established a similar pilot project in Ekiti State.

Apart from engendering employment in the area, the plant is also expected to produce eight tonnes of high grade manure every fortnight.

Four communities iden-tified with the pilot project and have since been pro-vided with colour-coded bins to enhance segrega-tion of waste at source. The communities are; Amadi Flats, Elekhia Housing Es-tate, Rumuibkwe Housing Estate and Mgbuesilaru/Rumoudara area.

Declaring the plant open,

however, shattered when officers of the State Secu-rity Services (SSS) barred him from gaining entry into the complex even af-ter identifying himself.

Ibrahim’s pleas to al-low him cover the event fell on deaf ears and while an argument ensued, the gun-trotting security op-eratives descended on the harmless journalist and beat him blue black.

Rivers State Governor, Roti-mi Amaechi, represented by the Commissioner for Transport in the state, Mr. George Tolofari, said the plant could not have come at a better time, when the state was struggling with the menace of waste and how to manage it.

While thanking the Fed-eral Government for cit-ing the plant in the state, the governor noted that it would greatly improve san-itation in the state.

He further commended NESREA for actualising the ‘waste to wealth’ proj-ect and ultimately creating employment for the state’s teeming youths, assuring that the project would be properly maintained.

Also speaking, the Min-ister of Environment, Mrs. Hadiza Mailafia, who was represented by NES-REA Director-General; Dr. Ngeri Benebo, com-mended the state for their continued and unflinch-ing support towards the realisation of the noble objectives of sustaining the values of the nation’s environment.

Uduaghan

FG inaugurates waste processing plant in Rivers

Bayelsa State Governor, Seriake Dickson (left) presenting a cheque of N1billion counterpart contribution to the General Manager, Southern Operation of the Bank of Industry Mr. Shuaibu Ottam, at Government House, in Yenagoa.

Bayelsa signs pact with S’African fi rm on investment

Delta spends N1.5bn on scholarships annually –Uduaghan

2015 polls: SSG preaches love, unity among citizens

Alazigha, disclosed this in Johannesburg, short-ly after signing the pact with IDC. He noted that the rating of the firm would promote the image of the state.

“The IDC is noted for transparency and account-ability and with the posi-tion of the present admin-istration on this key issue, foreign and local investors would be willing to invest in the state,” Alazigha said.

According to him, the pact would focus on op-erational and support skill requirements, human re-sources and capacity build-ing, development and sup-port of institutional policy and procedure and overall guidance in both establish-ing and operating develop-mental institutions.

The governor’s aide fur-

ther said that other areas of co-operation between the two countries include capacity building, best practices and investment partnership in Bayelsa De-velopment and Investment Corporation. (BDIC)

The BDIC, which has an authorised share capital of N10 billion was established in August this year, follow-ing the passage of a bill by the state House of Assembly.

Governor Seriake Dick-son has presented a N1bil-lion counterpart funding contribution draft for the development of Small and Medium Scale Enterprises to the Managing Director of BoI, Ms Evelyn Oputu.

Oputu said BoI had al-ready approved 12 projects worth N72 million for the development of small and medium scale businesses in

to, as a matter of impor-tance, show love to one another and be united with one indivisible voice.

Macaulay, who gave the charge at the week-end during an interac-tive session with Isoko people, put together by the Isoko Advancement Network (IAN) at the Re-

gency Hall, MKO Abiola Gardens Hill, Alausa, Ikeja, Lagos, noted that the ‘Pull Him Down’ syn-drome has been the bane of growth and develop-ment of Isokoland.

The SSG, who took time to shed light on what the Uduaghan ad-ministration is doing in Isoko land and Delta

the state.Dickson said the N1bil-

lion equity contributions would be utilised for the pur-pose of building entrepre-neurial skills on the training of youths and women.

“The empowerment pro-gramme is geared towards creating capacity, wealth and job opportunities that would make beneficiaries self-reliant rather than de-pendent on government and other individuals for livelihood.”

Delta State Governor, Dr. Emmanuel Udu-aghan, has said that

his administration spends N1.5 billion annually on scholarships for students of the state origin.

The governor, who stat-ed this at the weekend in

State in general, called on all Isoko sons and daughters both at home and in the Diaspora to speak with one voice so as to get to the top politi-cally come 2015. He add-ed that; “Isoko will not be left out in the scheme of things as far as growth and development is con-cern in the state.”

Asaba, during the presen-tation of cheques to ben-eficiaries of the 2012 first class graduates and Law School students, who are on the state’s scholarship, explained that it was part of the human capital devel-opment efforts of the state geared at realising the poli-cy of ‘Delta Beyond Oil.’

According to him, educa-tion was one of the other major sustainable means of building a state beyond oil.

He said the scholarship scheme entailed bursary awards for undergradu-ates of the state origin in tertiary institutions, law students in Nigeria law schools, first class gradu-ates and PhD students.

The governor noted that 135 graduates have so far benefitted from the first class graduate scheme with N476, 086,400 released at the weekend for the 2012 batch.

Each of the beneficiaries of the first class graduate scheme will get N5 million yearly to study up to doc-toral degree level in any uni-versity of their choice with-in or outside the country.

EMMA GBEMUDUYENAGOA

Bayelsa State gov-ernment yesterday signed an agree-

ment with the Industrial Development Corporation (IDC) of South Africa and the Bank of Industry (BoI) on a proposed plan to im-prove the economic profile of the state and create over 2, 000 jobs for the people.

The business pact with the South African firm was targeted at creating a new positive profile for the state and diversifying from the oil and gas sector while the agreement with BoI was to create jobs in the state under the small and medium scale enter-prises scheme.

Economic Adviser to the state Governor, Tam

AMOUR UDEMUDEASABA

Ahead of the 2015 general elections, Secretary to the

Delta State Government (SSG), Comrade Samuel Ovuozorie Macaulay, has charged all sons and daughters of Isoko na-tion and the entire state

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 11South South

able to do so much for the country because they were honest, disciplined and principled in their dealings and they were al-ways thinking how to bet-ter the lots of the people.

He said that was why Ni-geria was also held in high esteem among the comity of nations at that time.

“And ironically, their

belief was that Nigeria would become better by the day after them, but we have run above board and nothing seems to work again,” he lamented.

Alhaji Sule, however, said that despite the state of confusion Nigeria has found itself today, things would get better for the country and her citizens.

rade Abdulwaheed Omar, who said this in a state-ment in Abuja, said it was unfortunate that despite the intervention from the national leadership of the Congress, the gov-ernor continued to treat workers in the state with disdain over the issue of minimum wage, which has become law in the country.

His words: “For us, we have restrained ourselves from using the full weight of our capacity to declare total industrial action in the state because the state has been engulfed in several avoidable crisis enough to cause the gov-ernor deeper concern for

peace. “However, Jonah Jang

seems determined to deepen the crisis as he has been mobilising un-employed youths against striking workers in the state.”

It will be recalled that since June 1, 2012, local government workers, primary school teachers and health workers in the state, have been on strike as a result of the refusal of the Jang administra-tion to implement the new national minimum wage.

The strike started af-ter the state government, through the Ministry of Local Government, was notified thrice in writing

Property estimated at over N1.67 bil-lion were lost to 179

fire incidents recorded in Kwara State between Jan-uary and December, 2012.

The Director of the state Fire Service, Malam Raji Tiamiyu, made this known in an interview with the News Agency of Nigeria (NAN) in Ilorin, yesterday.

According to him, some of the property damaged by fire includes buildings, clothes, electrical gadgets, household utensils and

other assorted materials.He said the state fire

service recorded 179 fire incidents from different parts of the state during the period under review.

Tiamiyu also said that the service was able to sal-vage property estimated at about N1.7 billion be-tween January and De-cember, 2012.

He said 13 lives were lost in the fire incidents, attributing the causes of the fire to negligence and the lukewarm attitude of

TUNBOSUN OGUNDARE

A frontline politi-cian and First Re-public Minister,

Alhaji Yusuf Maitama Sule, has decried the con-sistent falling of the socio-economic fortune of Nige-ria, saying the situation has continued to take a huge toll on the wellbeing of Nigerians.

He expressed this dis-pleasure and what he called a huge disappoint-ment in the current po-litical leaders in Lagos at the weekend at the Nige-rian Media Merit Awards (NMMA) ceremony.

At the ceremony, he was honoured with the Out-standing National Leader-

ship Service Award for his immense contribution, particularly to the media industry in the country.

The 83-year-old politi-cian blamed today’s po-litical leaders for the woes, saying majority of them used their offices to pursue personal aggrandisement to the detriment of the gen-erality of the people.

Recalling his days in gov-ernment with the likes of the late Sir Tafawa Balewa, Chief Obafemi Awolowo, Nnamdi Azikiwe and Ah-madu Bello, as either na-tional or regional leaders, Maitama Sule said those leaders, despite their ethnic and religious differences, practised partisan politics characterised by love and sincerity of purpose.

PRISCILLA DENNISMINNA

Chairman of the Northern States Governors’ Forum

(NSGF) and Governor of Niger State, Dr Mu’azu Ba-bangida Aliyu, yesterday described the former Chief of Army Staff, General Theophilus Danjuma, as a selfless patriot that contin-ues to serve humanity even in retirement.

He said the former chief of army staff, who is often regarded as a ‘Soldiers’ Sol-dier’, turned 75 yesterday, but still continues to offer useful advice to the nation.

Aliyu, in a press state-ment signed by his Chief Press Secretary, Danladi Ndayebo, yesterday said Danjuma’s life is a testi-mony to the power of good leadership and purposeful living.

AUGUSTINE MADU-WESTKANO

The Federal Govern-ment has donated N400 million to vic-

tims of the recent flood di-saster in Kano State. Min-ister of State for Works, Ambassador Bashir Yuguda, announced this when he led members of the Presiden-tial Sub-committee on Flood Assessment to visit the state governor, Rabi’u Musa wankwaso, in his office.

He said the assistance is an immediate relief to aug-ment what the state govern-ment is doing to bring suc-

The forum said General T. Y. Danjuma impacted positively on his chosen profession and went on to become Nigeria’s most pow-erful Chief of Army Staff because of his rare vision and good leadership.

The forum noted that; “Were General Danjuma not as visionary and cou-rageous as he is, the army would not have attained the height it has reached and Nigeria would have been the worse for it.

“It is no longer news that he rose through the ranks to reach the highest eche-lon of the military by sheer dint of hard work, perse-verance and honesty and used his office to preserve the oneness of Nigeria.”

The 19 northern gover-nors then acknowledged General Danjuma’s achieve-ments, especially his efforts at keeping Nigeria one.

cour to victims of this year’s flood in Kano.

Ambassador Yuguda, who expressed the sympa-thy of the Federal Govern-ment to the government and people of Kano State, said the government has taken notice of what the govern-ment of Kano State is doing to alleviate the plight of the victims.

The minister explained that his committee that is chaired by the Minister of Environment, will assess the extent of the damage done by the flood in Kano and what can be done permanently to overcome the problem.

Politicians responsible for Nigeria’s woes –Maitama Sule “I have a great hope that

Nigeria will still become a strong, united and pros-perous country that will even inspire other black countries of the world, but to achieve this requires that every one of us and particularly the current set of political leaders rise to their responsibilities,” he said.

“But today, the reverse is the case. People go into politics because of the personal benefits they can get and not because they want to serve their fatherland and that is why the country continues to slide,” he said.

The former minister noted that political lead-ers of those days were

by the state councils of both the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) of Nigeria.

Bur, rather than meet with the state councils of the NLC and the TUC, the government had ignored their notices and since June, the workers have been on strike.

some people.The director said the

service was making ef-forts at ensuring that cas-es of fire outbreak were reduced in the state.

He, however, identified shortage of personnel as the major constraint of the establishment and called on the state gov-ernment to address it.

The director announced that more offices would be established in some local gov-ernments to assist in combat-ing fire outbreaks in the state.

Kwara State Governor, Abdulfatah Ahmed (left) and General Muhammadu Buhari (rtd), during the governor’s condolence visit to General Buhari over the death of his daughter in Kaduna, at the weekend.

Danjuma remains a selfl ess leader at 75 –NSGF

Why we haven’t declared full industrial action in Plateau –NLC

Fire destroys N1.67bn property in KwaraKano fl ood victims get FG’s N400m relief fund Omar

OLUFEMI ADEOSUNABUJA

The Nigeria Labour Congress (NLC) yes-terday said that it

has refrained from declar-ing a full blown industrial action in Plateau State over Governor Jonah Jang’s re-fusal to pay the N18,000 minimum wage to the workers because the state had had its own share of unrest in recent times.

This was even as the union admonished the governor to drop his mili-tary toga if he must suc-ceed as a civilian governor.

NLC President, Com-

Responding, Governor Kwankwaso said because the state government re-alised that the annual flood affects the same villages, his administration has de-cided to relocate them from low plain areas, adding that plans have been concluded to build free houses for them.

The governor also said his government has awarded contracts for the upgrading of three local government headquarters in the state, explaining that a census of all the old houses in those places has been conducted so that they can be reconstruct-ed in tune with modernity.

National Mirror www.nationalmirroronline.netMonday, December 10, 2012North12

FELIX NWANERI

The government of Delta State has ruled out the marginalisa-

tion of any of the several ethnic nationalities that make up the state.

The Secretary to the State Government (SSG), Comrade Ovuozourie Ma-caulay, stated this at the weekend at an interactive session with members of the Isoko community of the state resident in Lagos.

Macaulay particularly charged the people of Isoko nation to disabuse their minds about marginatinali-sation and form a formi-dable front to work for the progress of the area as well the state.

His words: “No ethnic

group has been margin-alised in Delta State and I am assuring you that the state government will do everything possible to en-sure that no part of the state is cheated. So, I will rather advise Isoko people to shun the pull-him-down syndrome and come togeth-er to work for the progress of Isoko nation and Delta State.”

He described the forum organised by the Isoko Ad-vancement Network as a unique one and stressed the need for all tiers of govern-ment to ensure constant di-alogue between the leaders and the led.

“Governments should avoid distancing them-selves from the people, so that the masses can have a sense of belonging and key

The Edo State gov-ernor, Adams Osh-iomhole has stated

that the newly signed Edo Land Use Charge Law 2012 is meant to protect the poor from the hands of a few rich.

According to Oshiom-hole, the law is no respecter of anybody hence he would apply the law dispassion-ately to help the state to grow.

The governor spoke through his Special Ad-viser on Media and Public Affairs, Prince Kassim Af-egbua.

The Edo State Land Use Charge Act was signed into law on Friday at the Gover-nor’s office. The law which came into force immedi-ately by virtue of the assent makes provisions for con-solidated rates and other levies on land use which in the governor’s opinion would help improve the rev-enue profile of the state.

It however exempted certain categories of buildings or property from being taxed; namely

SINA FADARE

The Action Congress of Nigeria (ACN) has warned that the

endemic proliferation of corruption in the country may collapse its economy if urgent action is not taking to arrest the situation.

The party, which based its premise on the recent poor rating of the country by Transparency Interna-tional in its 2012 Corrup-tion Perception Index (CPI),

noted that the ranking ridicules the Presidency’s claim that corruption has gone down under its watch.

ACN in a statement is-sued yesterday by its Na-tional Publicity Secretary, Alhaji Lai Mohammed, ex-pressed serious concern at the negative impact the re-port is having on the coun-try’s economy as well as its image.

The party said that if the situation on ground is left unchecked, corruption is capable of bringing Nige-

ria down even ahead of the slow intensity warfare and general insecurity in the country.

It said: “The harvest of corruption scandals that has dogged the Jonathan administration is prob-ably unprecedented in the country’s history and this has been attested to by the global anti-corruption body in its latest CPI. Sadly, de-spite the Presidency’s self-delusion, Nigeria remains among the most corrupt na-tions on earth.”

The party regretted that “Liberia and Sierra Leone, which Nigeria helped to lib-erate from the throes of war are now doing much better in fighting corruption than the country (Nigeria), just like much smaller and less-endowed nations like Niger, Gambia, Burkina Faso and Mali were better rated.”

ACN blamed Nigeria’s precarious position in the global anti-corruption bat-tle to the fact that the Jona-than administration has not only become corruption

scandal-prone, it has also al-lowed impunity to thrive by paying only lip service to probing the scandals and bringing perpetrators to book.

The party noted that the massive oil subsidy scam, the Malabu oil scandal, the

pension scam, and now the Nigerian Security Printing and Minting N2.1 billion scam are just a few of the corruption scandals that have dogged the Jonathan administration, adding that no culprit has been brought to book.

burial grounds, churches, mosques, family compound, houses in rural areas that occupy 100 by 100 square meters, and other rural set-tings within urban areas.

Speaking to National Mirror in a telephone in-terview yesterday, Afegbua said there is no cause for alarm because the law is very clear on those to be af-fected.

His words: “The law does not forbid anyone from building a house or prop-erty of choice. The law is simply saying that for the amount of land you choose to use, X amount of money would be paid to help gov-ernment to continue to provide all those essential services and maintenance of existing ones.

“This is not too much a thing to demand from our propertied class. We are not taxing the poor at all. Those rural dwellers in urban and rural areas are exempted. Churches, mosques, other places of worship and hous-es that occupy land areas of 100 metres by 100 metres and below are also exempted.”

into developmental pro-grammes that are meant to impact positively on the society,” he said.

The chairman of the event, High Chief Ser-

gent Uredi, in his remarks charged the people to change in the way they do things in order to achieve the desired transformation of Isoko nation.

OLAJIDE OMOJOLOMOJU

Former Minister of Defence, General Theophilus Yakubu

Danjuma was yesterday celebrated as he marked his 75th birthday anniver-sary.

At a get together at the Expo Hall of the Eko Ho-tels and Suites where the who is who in Nigeria’s po-litical and economic land-scapes gathered to honour the retired general, the

senator representing Tara-ba South in the National Assembly, Senator Em-manuel Bwacha, said that the celebration was signifi-cant not only to Taraba, the General’s home state, but to Nigeria in particu-lar and African in general because the General is be-yond the Nigerian nation.

He said: “The occasion is a celebration of God’s mercy on the life of Gen-eral Danjuma, who has been so favoured by God in the political and economic

landscape of the Nigerian nation in past decades. Having traversed the Nige-rian landscape like a colos-sus that he is, he has every reason to celebrate. It is so unique. At 75, we can well say that he has paid his dues to the Nigerian na-tion, he has paid his dues as a soldier, as a politician and as a businessman and as a father to so many.

“As the senator repre-senting General Danjuma at the Senate, it is signifi-cant because we are cel-

ebrating one of our own, who has risen to become a world citizen; to us this is very unique, noble and germane and we need a day like this to celebrate God and our own son,” the senator said.

The senator said that the expectation of his people from the general is that “now that he is father to all, he would play that fa-therly role, not only in his community or his state or Nigeria alone but in Africa as a whole.”

Corruption‘ll destroy Nigeria, says ACN

L-R: Bauchi State Deputy Governor, Sagir Aminu Saleh; Governor Isa Yuguda and the Secretary to the State Government (SSG), Ibrahim Dandija, shortly after the presentation of the 2013 Appropriation Bill at the House of Assembly complex, Bauchi recently

Land use law, for the masses – Oshiomhole

Taraba Senator eulogises TY Danjuma at 75

No marginalisation in Delta State – SSG

NIGERIA @ 52

PoliticsNational Mirror

www.nationalmirroronline.net 13Monday, December 10, 2012

SURE-P: Three days of grills, drills by NASS

14

The SURE-P committee was set up in February this year by the Federal Government as an interventionist

committee to manage the proceeds from the partial removal of fuel subsidy from N65 to N97 per liter in January this year.

Government established the commit-tee basically in response to the agitation by Nigerians for the prudent, transparent and accountable utilisation of the pro-ceeds from the fuel subsidy removal.

Last week, members of the committee were at the National Assembly to defend their 2013 budget proposal before the Na-tional Assembly joint committees on Pe-troleum (Downstream).

However, notwithstanding the tower-ing corporate and morale integrity of the chairman of the SURE-P committee, Dr. Christopher Kolade, the lawmakers took their turns, one after the other to express their impressions about the committee.

Chairman of the National Assembly joint committees on Petroleum (Down-stream), Magnus Abe, who presided at the three-day budget defence explained why the members had to go the extra mile to scrutinise the activities of the SURE-P committee more than they did with the other government agencies.

“The SURE-P committee was set up by the government to manage the proceeds from the fuel subsidy removal. The mon-ey is coming from all Nigerians and as a result, they would want to know how the money is being utilised.

“As the representatives of the people, our job is to ensure on behalf of the Ni-gerians we are representing here that the committee accounts for every kobo they spend from the money,” Abe explained.

Before going into the nitty gritty of the accounts book of the SURE-P commit-tee, the first issue the lawmakers tried to thrash out was to establish the fundamen-tal raison d’etre of the committee.

In a frank, polite, but frontal manner, the lawmakers bared their perception of the SURE-P committee. Individually and collectively, the lawmakers made the point that the committee was mere duplication of functions of already existing govern-ment institutions.

In other words, the lawmakers stressed the point that the committee’s interven-tion programmes, which ranged from the provision of road infrastructure, youths empowerment and job creation, provision of water, intervention in maternal and child care services, etc. are duplication of the existing functions of the ministries, departments and agencies of government.

The lawmakers were of the opinion that it was either the government allowed the SURE-P committee to exist as an in-dependent body that initiates and partici-

pates in projects and ensure the comple-tion of the projects or allow the ministries to continue to perform those functions as they have been doing.

Former governor of Gombe State, Dan-juma Goje, for instance regretted that the existence of the SURE-P committee side by side with the MDAs further adds to the cost of governance that government has been complaining about, adding that “tt is either we abolish the ministries and trans-fer their functions to the SURE-P commit-tee.”

But chairman of the SURE-P commit-tee, Dr. Kolade, was quick to remind the lawmakers that the decision as to whether or not to scrap the committee lies with the Federal Government, which set it up in the first place and not the parliament.

Nonetheless, Kolade took some time to explain a few details about the workings of his committee. According to him, what-ever sums that are saved from the with-drawal of fuel subsidy are shared between the three tiers of government, noting that, “We manage the funds that accrue to the Federal Government while the ones for the state and local governments are man-aged by them.”

He revealed that a total sum of N135 bil-lion has as at the end of October this year

explanation will go anywhere …you col-lected N27 billion and you say you are go-ing to create 50,000 jobs. I think you need to have a document that actually explains how the lives of those 50,000 will be trans-formed and how you are going to attain from point A to B. It is not something that you can do.”

On his part, Kolade maintained: “No we have the documents it is 5,000 people that we are paying N10,000 per month.”

Abe insisted: “We have done that before in this country like the issue of poverty al-leviation using N10 billion was brought to pay people. If we want to help unemploy-ment in Nigeria we must design a pro-gramme that actually put something into the lives of the people that is sustainable and lasting, to now share N10,000 to people there is no guarantee as to which people will get it. I don’t think and see how that can help.”

One other issue that drew the ire of the lawmakers was the spending of the sum of N2.2 billion by the committee on the running of the office of the committee in just four months of its existence.

Again, Kolade’s explanations fell short of satisfaction. According to him, the amount represented the cost of the rental for the office space currently being used by the committee as well as cost for the entire administrative management of the committee.

It was also revealed that out of the 1,200 mass transit buses earmarked in the 2012 budget by the SURE-P committee only 800 has been purchased so far.

The committee explained that it was not able to access the N15 billion it budgeted for the programme, which is supposed to be domicile with the infrastructure bank. The committee was also unable to explain satisfactorily to the lawmakers how it in-tends to recover the money from the ben-eficiaries.

The lawmakers also expressed surprise that no provision was made for agricul-ture and housing by the committee in its interventionist measures in its 2012 bud-get. The lawmakers described such omis-sion as a contradiction by the committee for two such sensitive sectors that are considered to have greater impact on the masses.

Specifically, Senator Ben Ayade submit-ted that, not capturing agriculture and housing in SURE-P’s budget compromised the philosophy of the programme, which he noted was geared towards job creation for the teeming unemployed population.

Ayade maintained that the establish-ment of farm settlements was one of the veritable ways of creating jobs, adding that engaging multinational companies in the execution of contracts would culmi-nate in the exportation of capital.

Accordingly, he advised that indigenous contractors should be engaged in execut-ing SURE-P projects.

Lawmakers also doubted the sustain-ability of the 2,000 newly-recruited mid-wives saying, the committee cannot em-ploy for state governments. This came shortly after it was announced that SURE-P signed a Memorandum of Understand-ing, MoU, wherein the ad-hoc midwives will later be absorbed by the various states, on permanent employment.

been realised from the fuel subsidy, and that overall, his committee expects to re-alise the sum of N180 billion this year.

He disclosed that the funds are usually utilised in line with what is budgeted for the committee by the parliament. He said funds are expended for maternal health programmes, construction of roads, bridges, railways, vocational trade, youth empowerment programmes, etc.

Another issue that the lawmakers strongly raised and sought explanations on was how the SURE-P committee en-sures that it does not engage in the dupli-cation of projects and payment for proj-ects already embark upon by the MDAs.

Kolade explained that SURE-P projects are managed by project implementation units in the ministries, departments and agencies, noting that, “we physically in-spect the works being done on the projects to verify them; we then approve the funds to the projects when completed.”

Before embarking on the defence of the 2013 budget appropriation for the commit-tee, the lawmakers queried the spending of the sum of N75 million on local tours alone by the committee in its 2012 budget.

Peterside Dakuku, chairman of the House Committee on Petroleum (Down-stream), who raised the issue wondered why such a huge sum should be expended on only local tours for a committee that had barely been in existence for just four months.

Kolade whose explanations hardly satisfied the lawmakers stated that local tours are embarked upon by sub-commit-tees members of his committee to verify if projects earmarked by the Federal Gov-ernment are actually being executed; and according to specification too.

Also the budgeting of the sum of N27 billion by the SURE-P committee for youths empowerment and job creation was one issue that elicited protracted de-bate between members of the committees and the lawmakers.

While Kolade insisted that his commit-tee had designed enough programmes with the money to assist greatly in job cre-ation and youth empowerment, chairman of the senate joint committees, Abe, said the nation had walked that path before and that there was ample evidence that the programme would fail.

Abe told Kolade: “I don’t think this your

SURE-P: Three days of grills, drills by NASSMembers of the National As-sembly joint committee on Petroleum (Downstream) used the occasion of the budget de-fence last week to raise criti-cal issues about the Subsidy Reimbursement and Empow-erment Programme (SURE-P), writes GEORGE OJI.

Kolade

Abe

YOU COLLECTED N27 BILLION AND YOU SAY

YOU ARE GOING TO CREATE 50,000 JOBS. I THINK YOU NEED TO

HAVE A DOCUMENT THAT ACTUALLY

EXPLAINS HOW THE LIVES OF THOSE 50,000 WILL BE TRANSFORMED ...IT IS NOT SOMETHING

THAT YOU CAN DO

14 Politics National Mirror www.nationalmirroronline.netMonday, December 10, 2012

National Mirrorwww.nationalmirroronline.net 15ViewMonday, December 10, 2012

SONI EHIASUELIMEN

soniasuelimen@yahoo.com, 08023459055 (SMS ONLY)

Roadmap

Continued from last week

The 2012 Brasilia Conference evalu-ated the measures put in place for the global fight against corruption.

At the 2010 Bangkok Conference, the world economy was reeling from excruciating fi-nancial crisis; certain measures were thus considered by IACC as necessary for effec-tive management of the world by state ac-tors and non-state actors.

Two years after, when anti-corruption activists gathered in the Brazilian capital, the verdict was that the global drive to incul-cate the culture of trust in business, sports and politics, had not achieved much; hence the conference declaration of the need to “bring corruption fighters together to cre-ate a more focused effort against the abuse of entrusted power”.

There was a clear understanding among the conferees that the biggest challenge to the fight against corruption is the impunity of those in the positions of power, which they admitted “undermines integrity ev-erywhere”. The bulwark against impunity,

it was agreed, would be the sheer size of anticorruption activists. Citizens, acting in coordination, can more effectively challenge governments, corporations, financial institu-tions, sports bodies or international organi-zations that neglect their duty towards them, was how it was put.

The popular imagination is that law is a weapon of deterrence. The Nigerian experi-ence shows that the existence of law cannot alone deter bad conduct. We have EFCC and ICPC, yet corruption is expanding in scope by the day. The way forward, according to IACC, is that everybody must imbue the cul-ture of transparency and that the impact of this must be “felt at every level of society”. The citizens are therefore, compelled to join forces with individuals and groups that see corruption as evil and strive to fight it.

The Brasilia Declaration admonishes the people to hold their leaders to their word and expose those who go back on promises. On this score, Nigerians are good at remind-ing their leaders of their electoral promises. The Nigerian civil society groups deserve a thumb up for purposeful and unrelent-ing anti-corruption crusading. Against the governments, ruling political elite and captains of industry, especially the mul-tinational corporations (MNCs), these groups have put up a strong fight against corruption and other ills of the society.

In the country, access to information through a free press, unfettered Internet and other open pathways to inform the public are guaranteed. The drawback has always been the manipulating of the judi-ciary by the guilty. We seem to have no an-

swer to that now, but with the CJN, Justice Aloma Mariam Mukhtar, there is light at the end of the tunnel.

Though the Declaration has canvassed the empowerment of civil society to review the distribution of aid and the extraction of minerals and address the effects of cor-ruption on the younger generations and on women, we might have a problem with this in Nigeria. The problem has to deal with full disclosure. Transparency has become one big problem in politics and business. The second problem is the impunity of the political leadership. There is always the reluctance on the part of the leaders to sanction bad conduct.

Consider this declaration: Secrecy in the world of money has meant trillions lost by developing countries. To restore their trust, transparency and accountability must be rooted in the financial system.

The EFCC and CBN have set bench-marks for financial transactions, all aimed at tracking down money launderers. These measures are constantly being vio-

lated with the connivance of banks. And so, money laundering ensues trillions of naira are leaked out of Nigeria every year. At the political level, the efforts of the Na-tional Assembly and Presidency have un-covered horrendous scams, but acting to punish offenders has been a problem.

In the management of sports, the ad-monition is that fans and sponsors, players and athletes need power over the bodies that run their sport. These bodies should be en-couraged to lead by example by upholding basic principles of integrity. Nigeria sports bodies cannot pass this integrity test. May be the time has come for anti-corruption activists to pay attention to sport admin-istration in the country to clean up the system.

The security of anti-corruption activ-ists, journalists and whistle blowers is seen as paramount to the success of the struggle; so Nigerian activists are encour-aged to promote greater people engage-ment and find ways to provide greater se-curity for anti-corruption activists.

The final message is that reducing im-punity also requires independent and well-resourced judiciaries that are accountable to the people they serve. The records of EFCC and ICPC show that our judiciary has not been helpful in the fight against corruption in the country.

The Brasilia Declaration admonishes all to embrace transparency to make strong the potency of the message: We are watching those who act with impunity and we will not let them get away with it!

Concluded

Brasilia Declaration and Nigeria’s corruption challenge

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

THE NIGERIAN CIVIL SOCIETY GROUPS

DESERVE A THUMB UP FOR PURPOSEFUL AND UNRELENTING ANTI-CORRUPTION

CRUSADING

That N23bn capital market bailout

the capital market as a kalokalo casino for investor fools, who dared to help their country to provide cheap capital, which Sanusi’s supervised commercial banks re-fused to supply. Because shareholders were such casino fools, Sanusi said that the stock broking firms that granted reckless loans that undid the market did not deserve any bail out. He has forgotten he ironically rec-ommended same for the greedy banks that granted the margin loans that wrecked the stock market. The truth is that without shareholders’ funding through share capi-tal and customer deposits, the banks would not have existed in the first place.

Sanusi’s illogicality became more glar-ing when banks started collapsing because of lost depositors’ funds fraudulently used to fund illicit margin loans, most of which were lent to banks’ subsidiaries through dubious registrar firms, which covered their fraudulent transactions, and fraudu-lent stock broking firms, which the CBN corruptly allowed to superintend business

transactions of their principals. It was the failure and irresponsible negligence, both-ering on conspiracy of the CBN, Nigerian Stock Exchange (NSE) and Security and Exchange Commission (SEC) that broke the back of the thriving capital market from capitalization of about N13 trillion a year earlier to about N6 trillion at its nadir in 2008. Sadly, the financial institutions’ share of the capital market was over 6o per-cent, which meant bank distress through CBN’s indiscretion and SEC’s inept watch-dog role, signaled the market’s cave in.

All efforts to revive the market have failed woefully in four years. Despite the fraudulent sponsored media reports that the market was looking up, local and for-eign investors have shunned it like leprosy. Dumping of valueless shares has been unrelenting. The market-maker investors, including foreign investors, who got privi-leged insider information of imminent collapse, had bailed out long before the crash. That is why efforts of Aruma Oteh-led SEC to woo multinational oil corpora-tions and telecom firms and other big eco-nomic players to list their shares in public offerings to deepen the market, have failed.

However, with government erasing the N22.6 billion bad margin debt loans in-curred by 84 stock broking firms, which the Asset Management Corporation of Nigeria (AMCON) bought, there is hope of investors’ confidence returning. Idle stock broking firms that have offloaded staff can return to woo potential investors to the market. After all, the banks that caused the market crash were bailed out with tril-lions of naira and FG is yet to bring the bank owners and directors to book. Why? The unscrupulous EFCC and police had

had to conspire with rogue lawyers and judges to stall their trials and eventual jailing to prevent the next banks’ cyclical collapse.

Government has permitted the waivers of stamp duties and Value Added Tax (VAT) on traded shares. However, it is instructive to note that in a medicine-after-death ther-apy, the CBN has forbidden banks from owning round-tripping registrar and stock broking firms through which the hitherto respected former managing directors of commercial banks fleeced depositors of their life savings by diverting deposits to fake money-laundering firms. Many vic-tims of the bank-induced capital market crash are dead, some paralysed, while some are walking corpses.

The SEC and CBN regulators therefore, must be alert to ensure compromising reg-ulators that tolerate insider-dealing corrup-tion do not pollute Presijo’s fresh air again.

The Central Bank of Nigeria gover-nor, Sanusi Lamido Sanusi, ought to be unsettled by President Good-

luck Jonathan’s approval of N22.6 billion bailout for the reckless margin loans of stockbrokers, which paralysed the stock market since 2008. Sadly, Sanusi, the man largely derided as the Emir of CBN, may need to apologise to other capital market stakeholders for prescribing death pen-alty for this vital sector of the economy. Finance Minister and Coordinating Minister for the Economy, Madam Ngozi Okonjo-Iweala, had on December 3 an-nounced the cheery news that federal government had accepted the recom-mendation of its CBN Deputy Governor, Dr. Kingsley Mogbalu-led Capital Market Committee to confirm if Sanusi’s wild imaginations were true that the capital market should die.

Really, Islam forbids lottery, so Sanu-si’s pretentious labeling of the capital market as a casino is understandable in the context of his aspiration to become the Emir Kano or governor of the state, a development that has made him to be-come very politically active in recent times. In public relations and journal-ism, bad news is worth the bucks. Of-tentimes you cultivate it for relevance, especially as human memory is fragile and temporal. Except that former mili-tary President Ibrahim Babangida, in a Newswatch magazine interview decades ago, who confidently asserted that gull-ible Nigerians would forget his sapping Structural Adjustment Programme (SAP), inspired by the IMF, is realizing how wrong he was.

Sanusi had recklessly pronounced

THE TRUTH IS THAT WITHOUT

SHAREHOLDERS’ FUNDING THROUGH

SHARE CAPITAL AND CUSTOMER DEPOSITS,

THE BANKS WOULD NOT HAVE EXISTED IN

THE FIRST PLACE

CALLISTUSOKE

Callistusoke@nationalmirroronline.net 08054103275 (SMS ONLY)

HeartBeat

16 National Mirror www.nationalmirroronline.netEditorial Monday, December 10, 2012

ON THIS DAY

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

BARRISTER JIMOH IBRAHIM, OFR PUBLISHER

STEVE AYORINDE MD/EDITOR-IN-CHIEF

YELE AKINROLABU ED OPERATIONS

SEYI FASUGBA DAILY EDITOR

BOLAJI TUNJI SUNDAY EDITOR

GBEMI OLUJOBI SATURDAY EDITOR

LANRE OYETADE GENERAL EDITOR

DOZIE OKEBALAMA COORDINATOR, EDITORIAL BOARD

ADESOYE ADEKOYA CONTROLLER, PRODUCTION

CALLISTUS OKE EDITORIAL PAGE EDITOR

ISE-OLUWA IGE ABUJA BUREAU CHIEF

KAYODE BALOGUN JNR SM, STRATEGIC DEVELOPMENT

FRANK OBOH HEAD, GRAPHICS

ON THIS DAY

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

BARRISTER JIMOH IBRAHIM, OFR PUBLISHER

STEVE AYORINDE MD/EDITOR-IN-CHIEF

YELE AKINROLABU ED OPERATIONS

SEYI FASUGBA DAILY EDITOR

BOLAJI TUNJI SUNDAY EDITOR

GBEMI OLUJOBI SATURDAY EDITOR

LANRE OYETADE GENERAL EDITOR

DOZIE OKEBALAMA COORDINATOR, EDITORIAL BOARD

ADESOYE ADEKOYA CONTROLLER, PRODUCTION

CALLISTUS OKE EDITORIAL PAGE EDITOR

ISE-OLUWA IGE ABUJA BUREAU CHIEF

KAYODE BALOGUN JNR SM, STRATEGIC DEVELOPMENT

FRANK OBOH HEAD, GRAPHICS

ON THIS DAY

THE TYPICAL ATTITUDE OF

GOVERNMENTS AND LEADERS IN

THE COUNTRY, OF SHUTTING THE STABLE DOOR

AFTER THE HORSE HAS BOLTED, IS

RETROGRESSIVE AND CONDEMNABLE

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

BARRISTER JIMOH IBRAHIM, OFR PUBLISHER

STEVE AYORINDE MD/EDITOR-IN-CHIEF

YELE AKINROLABU ED OPERATIONS

SEYI FASUGBA DAILY EDITOR

BOLAJI TUNJI SUNDAY EDITOR

GBEMI OLUJOBI SATURDAY EDITOR

DOZIE OKEBALAMA COORDINATOR, EDITORIAL BOARD

ADESOYE ADEKOYA CONTROLLER, PRODUCTION

CALLISTUS OKE EDITORIAL PAGE EDITOR

ISE-OLUWA IGE ABUJA BUREAU CHIEF

KAYODE BALOGUN JNR SM, STRATEGIC DEVELOPMENT

FRANK OBOH HEAD, GRAPHICS

With the rate at which buildings come crashing in Lagos State without

any comprehensible physical environmental pressure, we imagine how many hundreds of buildings would collapse if any earth tremor or the type of natural disasters being witnessed in the countries around the West Atlantic or Indian Ocean were to occur in Nigeria’s foremost commercial capital. Indeed, there is a long history of collapsed buildings in Lagos. However, the most recent incident at Jakande Estate, Isolo, in which two sisters, their mother others perished, has again drawn attention to the sad phenomenon. Eye-witness account said signs that the six-storey building was about giving way was noticed at about 12.30am when a loud noise was heard. The Cokers were apparently deeply asleep.

The authorities were said to have given residents of the ill-fated building evacuation notice, which the Cokers ignored for the obvious reason of lack of funds to relocate; that is if they had been able to find another apartment. These are common hardships Lagosians face on daily basis. The fact that the family opted for the low-cost housing scheme in the first place is instructive. The scheme, of which the Jakande Estate is one, was commissioned about 30 years

ago to serve the housing needs of the less privileged and help address the housing deficit in the state. The unfortunate incident resulted in the immediate audit of other buildings and similar estates all over Lagos. Five blocks comprising six flats each and accommodating 30 families had already been marked for immediate demolition; while about a total of eighty such buildings may follow. As a palliative, however, the Lagos State Government was said to be providing a temporary transit camp to hasten the demolition exercise. Toyin Ayinde, the state commissioner for Physical Planning and Urban Development, however, regretted that because of the problem of

housing infrastructure deficit in Lagos, the government might not be able to accommodate all the families affected by the demolition.

Mainly due to poor construction standards and the ineptitude of regulatory and supervisory authorities, cases of collapsed buildings have become relatively common in Lagos. In 2006 alone, up to three incidents were reported, while two were reported between June and July 2011, among others; all leading to several deaths and scores of fatally injured people. Similar reports also come from other parts of the country.

There had been global incidents of building-collapse, like the Ronan Point apartments-collapse in Britain in 1968; the 2000 Commonwealth Avenue Tower-collapse in Boston, Massachusetts, United States in 1971; the collapse of Murrah Federal Building in Oklahoma City in 1995; and the collapse of an apartment building in central Nairobi in 2006; among others, which resulted in scores of deaths and injured persons. But unlike the Nigerian situation, where such tragedies are mainly traceable to compromised standards and grossly inefficient supervision by the regulatory authorities, most known foreign cases of building-collapse are either occasioned by natural

disasters or error in the handling of explosives.

The relevant authorities cannot pass the buck in the latest Lagos tragedy. For, in addition to the lapses in building construction standards and inept official regulation/supervision, how come occupants of the collapsed building were given evacuation order by the government, without any immediate measures to provide them alternative accommodation, even if temporarily; and ensure that they left the building before tragedy struck? Rather than act proactively to prevent the disaster, the government kept off, only to now say it is providing so-called ‘transit camps’ when the harm had been done. The typical attitude of governments and leaders in the country, of shutting the stable door after the horse has bolted, is retrogressive and condemnable.

In addition, it is morally objectionable that the government should abandon the victims to their fate on the grounds of insufficient accommodation. Being an emergency situation, we consider it the Lagos State Government’s bounden duty to relocate all affected persons, rebuild the houses as quickly as possible, and thereafter, relocate them back to their houses.

Incessant cases of building-collapse in Lagos

Japan’s unsolved “300 million yen robbery”, occurred in Tokyo. Four Kokubunji branch employees of the Nihon Shintaku Ginko bank transporting 294,307,500 (about $817,520) yen in the trunk of a company car were conned by a fake uniformed officer who stopped them and warned that a dynamite about to explode was planted in the transport car. When the four employees stepped aside for safety, the con man got into the car, drove off and disappeared with the cash.

December 10, 1968 December 10, 1994Rwandan Genocide: Military advisor to the

United Nations Secretary-General and head of the Military Division of the Department of Peacekeeping Operations of the UN, Mau-rice Baril, recommended that the UN multi-national forces in Zaire should stand down. The Rwandan Genocide was the 1994 genocidal mass slaughter of an estimated 800,000 people in the East African state of Rwanda.

December 10, 1983

Democracy was restored in Argentina with the assumption of President Raul Alfonsín. Alfonsín (March 12, 1927 – March 31, 2009) was an Argentine lawyer, politician and statesman who served as the President of Argentina from December 10, 1983, to July 8, 1989. He was the first democratically elected president of Argentina following the military government known as the National Reorganization Process.

Cover

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A2 18 Business CourageCourage

A Publication of GLOBAL MEDIA MIRROR LTDBARRISTER JIMOH IBRAHIM, OFR PUBLISHER

SEMIU SALAMI EDITORBAMIDELE OBAFEMI ASSOCIATE EDITORADEJUWON OSUNNUYI STAFF WRITERFESTUS OKOROMADU STAFF WRITERTAYO ADELEKE SENIOR REPORTER

OLATOYE RAPHAEL HEAD, PRODUCTIONSEYI OKUMODI SENIOR GRAPHIC ARTIST

BusinessCourage

Last Monday, the Federal Government, through the Finance Minister and Coordinating Min-

ister of the Economy, Dr Ngozi Okonjo-Iweala announced a N22.6 billion forbearance pack-age on the margin loans debt of 84 stockbrokers as a result of the 2008 global economic melt-down and Nigeria’s banking sector crisis.

The move, according to the minister, was a step towards allowing the affected stock broking houses get re-admitted into the capital market and re-invigorate activities in the stock market to enable it play the critical role of providing long term funds for sustainable development of the economy. The forbearance is for the huge debts that arose from the mar-gin loans that went bad due to the crash of the stock market following the 2008 global eco-nomic depression and is a fall out of the Committee early set up by the minister to make rec-ommendations on measures to resuscitate the capital market. The committee headed by Dr Kingsley Moghalu, Deputy Gov-ernor, Central Bank of Nigeria (CBN), was specifi cally tasked with the mandate to chart an appropriate course for fast-tracking efforts to transform the market into a major source of attracting investment and long term investible funds for the economy.

It would be recalled that Dr Okonjo-Iweala, while speaking on the sidelines of the African Development Bank (AfDB) An-nual General Meeting in Aru-sha, Tanzania in May, had said while the government, through the Assets Management Corpo-ration of Nigeria (AMCON), had

A reprieve for th About two years after banks were bailed out from the effect of the global economic recession and the attendant stock market crash, the Federal Government rolls out a N22. 6 billion forbearance package to help 84 stockbroking firms address the burden of the huge margin loan and help buoy investors’ confidence in the stock market. But some fear the package may be a Greek gift after all

By Salami Semiu

intervened successfully and safe guarded the banks, the re-quest for forbearance package by the stockbrokers would also be granted. “We are working on the forbearance; we have now agreed on it, and that we are going to implement it. We are having discussions about how to do it,” he said, adding that ‘’We must remember that we don’t want any moral hazard, we don’t want those stockbro-kers who did the right thing to think that they are not appre-ciated or that they have been neglected. So we must honour them too by looking at the type of forbearance to be accorded to

the stockbrokers who are hav-ing diffi culty. But there would be forbearance and there would be some conditions attached to that and we would spell that out.”

According to her, while it appears that it was taking gov-ernment a long period, “our commitment is to make sure that we provide sustainable policy guidelines for growth and wealth creation for both the in-vestors and stockbrokers”.

The N22.6 forbearance is part of the recommendations of the Committee, which the minister said was done in ac-cordance with section 6(5) of

Oscar Onyeama, NSE Boss

Cover

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A3 19Business CourageCourage

BC

e market?

the Asset Management Corpo-ration of Nigeria (AMCON) Act. Dr Okonjo-Iweala said that the forbearance is to make up for the shortfall of the margin loans purchased by AMCON which value have fallen from N42.6 billion to N19.96 billion cur-rently. “AMCON had purchased these margin loans from the banks for about N42.6 billion, but the value of the underly-ing assets or collateral is worth only N19.96 billion today. In furtherance of AMCON’s clean-up of the banking sector, it is necessary to wipe off the debt

overhang in the capital market, as this is hampering market ac-tivity,” she said.

Apart from the forbearance, the government has also pro-vided some tax incentives to en-courage more participation in the market. The minister noted that taxes on Stock Exchange transactions fees are as high as 12 per cent (fi ve per cent in VAT and up to seven per cent in stamp duties), much higher than in other jurisdictions, add-ing that these constitute a ma-jor disincentive to invest in the Nigerian Capital Market.

She disclosed the govern-ment’s decision to waive the 0.075 per cent stamp duties payable on Stock Exchange transaction fees; and exempt from VAT, commissions earned on traded values of shares, pay-able to the Securities and Ex-change Commission (SEC), and those payable to the Nigerian Stock Exchange (NSE) as well as the Central Securities Clear-ing System (CSCS). This, she said, the government has done by including the commissions in the list of VAT-exempt goods and services.

Arunma Oteh, SEC Boss

Okonjo-Iweala

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A4 20 Business CourageCourage

However, for any of the iden-tifi ed 84 stock broking fi rms to benefi t from the N22.6 billion package, the minister said that the government’s intervention would be accompanied with sanctions and conditions to discourage excessive borrow-ing behaviour by capital market operators in the future. Some of the conditions attached to the debt relief, according to Okon-jo-Iweala, include barring bro-kers benefi ting from the relief from providing any professional services to AMCON for a period of not less than three years. Also, there must be greater dis-closure by the brokers, which would require fi rms to reveal to the Securities and Exchange Commission (SEC), any deal-ings in any security, at a mini-mum of N25 million, executed in a single deal, or multiple deals on the same day, on be-half of their clients.

Furthermore, the govern-ment has imposed a limit on debt fi nancing which is part of the stock brokers’ net capi-tal requirement, thus implying that no benefi tting broker shall permit his aggregate indebted-ness to exceed 100 per cent of his net capital. Besides, stock-brokers taking the debt relief offer would also be required to separate their assets and control for brokerage services and/or future margin facilities through the use of custodians. Such stockbrokers would also be prohibited from taking pro-prietary positions, or trading on their own account for one year.

The minister regretted that activity on the Nigerian Capital Market, particularly the stock exchange, has been very slow

in the aftermath of the global fi nancial meltdown and the Ni-gerian banking crisis. “We saw the Nigerian Stock Exchange (NSE) All Share Index (ASI) plummet from a peak of about 66,000 points in March 2008 to less than 22,000 points by Jan-uary 2009, wiping out over N8 trillion (or around 70 percent) of the total capitalization of the stock exchange within this period. Since then, activity on the stock market has remained sluggish even though there are some signs of recovery, with the index now at about 26,494 points thanks to the efforts of the NSE and the SEC,” she said.

Dr Okonjo-Iweala empha-sised that a vibrant capital market is essential to the gov-ernment’s Economic Transfor-mation Agenda, especially in terms of raising much-needed long-term fi nancing for critical infrastructure and the hous-ing sector. According to her, research (by the IMF and the World Bank) has shown that solid economic growth in any country is closely linked to the joint development of the bank-ing sector and the capital mar-kets. While the banking sector has already been cleaned-up, the capital market needs some intervention.

The minister however ac-knowledged that there were some other stock brokers who did not partake in any market infractions, including over-exposure to margin loans, and who managed their stock broking businesses well. The Ministry of Finance and the Central Bank, she said, plan to celebrate the good standing of these stock brokers in due

course.However, the announce-

ment of the forbearance pack-age, particularly the conditions attached to it has continued to generate mixed reactions among stakeholders in the cap-ital market. In fact, there are strong indications that some stockbrokers may reject the N22.6 billion debt relief owing to what they termed the strin-gent conditions attached to the facility.

Some of the potential benefi -ciaries referred to the debt relief as a “Greek gift”, and have al-ready opted to continue servic-ing the loan themselves, rather than taking the offer.

A dealing member who pleaded anonymity last Friday told Business Courage that the conditions attached to the relief are strange. He said that stockbrokers who would likely take the debt are those who owe huge amounts running into bil-lions of naira and who may have been convicted of the crime. “The conditions attached to the debt relief are very strange. I know people who have their names on that list but are not going to take the debt relief of-fer,” he said.

Another broker, a chief ex-ecutive offi cer of a renowned stockbroking fi rm in Lagos wondered “how can the Fed-eral Government say that they are giving debt relief to stock-brokers but the conditions are not favourable. Accoding to him “It is like you giving someone a gift with one hand and taking it back with the other hand. Let me use my fi rm as example, we have a debt we are servicing currently and we prefer to ser-

vice this debt than taking the FG’s offer.”

There are however, many other operators who see the is-sue differently. Ariyo Olushek-un, Managing Director of Capi-tal Asset Limited and President, Chartered Institute of Stockbro-kers, believes there is no reason why the 84 stockbroking fi rms would not take the offer, stress-ing that the relief was in their own interest. “The important thing is that they got the relief. The debt relief is okay,” Olush-ekun added.

Olushekun said that the government’s offer would help in sustaining the recovery be-ing witnessed in the market. According to him, this is some-thing the stockbroking commu-nity had been asking for; the Federal Government must be commended for acceding to the request, which has demonstrat-ed the government commitment to the development and growth of the market. “The forbear-ance is a fantastic development that is highly welcomed by the stockbroking community. The immediate effect it would have on the broking fi rm is to im-prove their balance sheet and bring it to positive. After this, they can recapitalise and begin proprietary trading and con-tribute to the fl ow of activities in the market,” he added.

Emeka Madubuike, Chair-man of the Association of Stock-broking fi rms, said earlier that forbearance was the oil needed to compliment the new trading regulations introduced by the regulatory authorities, stress-ing that stockbroking has be-come an endangered profession after the near collapse of capital

market. Managing Director and Chief

Executive Offi cer, Cowry Asset Management Limited, Johnson Chukwu, said last week that the debt forbearance granted stockbrokers was a critical step towards the resuscitation of the Nigerian capital market. Chuk-wu added that the relief would signifi cantly relieve the opera-tors of the huge debt burden which most of them had been subjected to since the capi-tal market crash of 2008. “Al-though the forbearance will not necessarily lead to an immedi-ate restoration of their liquid-ity, it offers the stockbrokers a fresh lease of life to either re-capitalise or merge their opera-tions so as to be economically viable,” he said.

Rather than condemn the conditions imposed, Chukwu said operators should look at it from the perception that it would “further make it impera-tive for the affected operators to consolidate into bigger and fi -nancially stronger companies.”

Another operator, Idowu Ogedengbe, noted that the forbearance should help lead to an increased level of trad-ing activities on the Nigerian bourse considering the fact that the stockbrokers in ques-tion were the most prominent in the market before the bubble bust. “Their absence from trad-ing has left the market at the mercy of the offshore portfolio fund managers who currently trade about 80 to 90 per cent of volumes being done in the mar-ket on the most active stocks. While it is obvious that it will take a while for volumes to be driven by the retail end of the market, however, given an ac-cess to liquidity by the return-ing dealing members of the NSE, I expect some respite to the declining share prices and an appropriate valuation of the equities market, which appar-ently is currently undervalued, “he said.

Chidi Agbapu, Managing Di-rector of Emerging Capital Lim-ited, said the move was a good one as brokers needed the for-bearance to boost liquidity in the market and take the market close to where it was in 2008. “It is positive news for the stock market community. We have been waiting for this news. The Federal Government has done the right thing. The next step now is to carefully manage the rebound so that we will not re-peat the same mistakes again, “he said.

The Nigerian capital market since the onset of the global fi nancial depression in 2008 to March 2012 lost N4.6 tril-lion due mainly to the effects of banking consolidation and in-vestors loss of confi dence.

At the same time, estimated debt overhang, arising from margin loans incurred by stock-brokers, also stood at about N300 million.

Olushekun

BC

Madubuike

Cover

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A5 21Business CourageCourage

News

R-L; Managing Director/Chief Executive Offi cer, Enterprise Bank Limited and guest speaker at the 28th edition of Omolayole Management Lecture Series, Ahmed Kuru; Michael Olawale-Cole, Chairman of Council, Nigeria Institute of Management (NIM); Dr. Michael Omolayole, Senator Babafemi Ojodu, the second guest lecturer at the event and Dr. Dahiru Sani, Director-General, Kaduna Business School and Na-tional President, AIESEC Alumni Nigeria during the lecture at the Nigerian Institute of International Affairs (NIIA), Lagos…recently

Seme Border earns N9bn in nine monthsBy Francis Ezem

Nigeria’s non-oil export to other African countries

like the Republic of Benin, Togo and Ghana etc has recorded an all time high, as the Seme Command of the Nigeria Customs Service nets a whopping N8.5 billion export revenue between January and October, 2012.

Nigeria is a signatory to the Economic Community of West African States (ECOWAS) Trade Liberalisation Scheme.The 16 states that make up the ECOWAS had adopted a scheme in which goods manufactured within the community would be exported through member-states duty-free, as part of measures to facilitate trade and integration.The affected export products include fi nished agricultural products as well as other manufactured products like beverages, food seasoning, confectionaries, detergents and other washing materials among several others.

Statistics released by the Customs Area Controller of the command, Othman Saleh shows that the Free On Board value of exports at the command between January and October stood at N8.5 billion.

According to him, collections from the Nigeria Export Supervision Scheme stood at N42.6 million within the period under review.The controller had noted that before now, the export section of the service has not been a revenue yielding one due to Federal Government’s policy that is geared towards boosting export of made in Nigeria

goods as a way of increasing the nation’s foreign exchange earnings.

Other revenue fi gures released by the command in terms of import duty, charges and other levies shows that it collected a total of N7.4 billion between January to November out of the N8.4 billion revenue target given to it by the headquarters as part of the N1 trillion for the entire service under the 2012 fi scal year.

The CAC, who assumed duty in September, said that within the fi rst one month of his resumption as the head of the command, a total of N773.4 million was collected as revenue at the end of September in contrast to the N635.9 million collected in the previous month of August.

It was also gathered that though the revenue dipped in October to N613.2 million, this was however higher than the fi gures of 2011, which was N539.1 million even as the fi gures picked up again in November, as a total of N824.3 million was collected, which is higher than both the September and October revenue fi gures.

Saleh had disclosed that on resumption of duty, he intensifi ed the anti-smuggling campaign by holding meetings with the traditional ruler of the border communities as well as other sister security agencies operating at the borders.

It was gathered that this measure, which has been described as reasonable coercion is currently yielding fruitful results as a total of 317 seizures have been made within the nine months under review with a duty paid value of N142.3 million.

Records also show that out of a total of 22 suspected smugglers arrested by the command, fi ve have been convicted while other cases are at various stages of investigation and prosecution.The command had recently arrested a couple with substances suspected to be cannabis, which were loaded in a KIA Sephia car, the suspect and exhibits, which had since been handed over to the National Drug Law Enforcement Agency in line with inter-agency collaboration.

The command had lost whopping N1.9 billion revenue within the review period, which it would have collected from goods imported into the country due to the enforcement of ETLS.The command HAD processed ETLS compliant imports with Cost Insurance and Freight value of N6.6 billion between January and October, 2012.

Mobil intensifies clean up of Ibeno spill

Mobil Producing Nigeria (MPN) has intensifi ed

the cleanup of the Atlantic shoreline in Akwa Ibom contaminated by the November 9, oil spill emanating from its operations.

The News Agency of Nigeria (NAN) learnt that additional

100 oil spill personnel have been added while the mop-up exercise has been extended for additional 10 days for the third time.

Irvin Obot, Zonal Director at the National Oil Spill Detection and Response Agency (NOSDRA), said the agency was still assessing the impact of the spill along the Atlantic Coastline in Akwa Ibom from Ikot Abasi to Mbo local government areas.

A statement signed by General Manager in charge of Public and Government Affairs in Mobil, Paul Arinze, said that some 500 youths from its host community were engaged in the cleanup of the shoreline.

Sources at Mobil’s Qua Iboe terminal said on Friday that another team of 100 oil spill response team was mobilised to trap the residual oil on the ocean surface in addition to the coastline clean up team.

The four labour contractors handling the coastline operations were allocated 140 workers each to fast track the cleanup process on the 30 kilometre stretch of Ibeno coastline.

Okon Akpanowong, a community leader in Ibeno, said that the last extension lapsed on December 2, while the 10-day extension runs from December 3, to December 13.

MPN, operator of the Qua Iboe oil fi eld, said the spill incident discharged an estimated volume of 200 barrels of crude into the Atlantic, a development that compelled it to declare a ‘Force Majeure’ on the Qua Iboe crude streams effective November 21.

Force Majeure is a legal notice that frees oil fi rms from liabilities for not meeting supply obligations due to circumstances beyond their control.

Plateau to spend N2.9bn on constituency projects

The Plateau government has set aside N2.9

billion for the execution of some constituency projects in the state. The projects cover various sectors like agriculture, health, water resources and urban planning, among others.

Abraham Yiljap, the State Commissioner for Information told said on Friday that the projects were chosen by the legislators. ``Each house member gave us information of the projects he or she feels are necessary for his or her people and the government has looked into them and ready to execute them. Professionals were sent out who took stock and reported

back to the government on the fi nancial implications which enabled us have what we call our constituency projects, `` he said.

Yiljap said that the government intended to construct a number of classrooms in 22 constituencies at a cost of about N214 million and Primary Healthcare Centres in nine constituencies at the cost of N92.6 million.

He said drilling of boreholes and provision of electricity in 20 constituencies would cost the government N173.9 million, while construction of rural roads and culverts in eight constituencies would cost N40 million.

The Commissioner said the construction of Agro Export Centre at the Jos Airport and a road leading to the Agricultural Services Training Centre (ASTC), Kassa would cost N192.4 million.

``This administration will continue to maintain fi nancial discipline so that it can do more for the people and hopes to work closely with the House of Assembly to ensure the development of the state, `` he said.

101 ships expected in Lagos

The Nigerian Ports Authority (NPA) said on Friday that

101 ships were expected to arrive at the various terminals in Lagos ports between Dec. 7 and Dec. 31.

The NPA daily publication, ``Shipping Position’’, made available to newsmen in Lagos, said that 20 of the ships

Jang, Plateau State governor

Dikko, Comptroller-General of Customs

Abdullahi, NPA boss

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A6 22 Business CourageCourage

Newswould come in with petroleum products such as petrol (PMS), diesel (AGO), kerosene (DPK) and aviation fuel (JET A1).

It said that other expected ships contained fi sh, bulk wheat, rice, petroleum products and general cargo.

Other ships, it added, were laden with new and used vehicles, steel products, base oil, bulk sugar and bulk malt.

It said that 14 ships had arrived and were waiting to berth and discharge petroleum products at the ports.

The News Agency of Nigeria reports that three other ships were also waiting to discharge bulk wheat, bulk sugar and vehicles.

NGO trains 25 youths on entrepreneurial skills

No fewer than 25 youths last week in Abuja

graduated from a youth mentoring programme known as ``Develop for Development Initiative’’. (DDI). The programme was organised by Afrigrowth, a Non Governmental Organisation (NGO).

The graduating youths were the last batch of 100 youths mentored for eight weeks apiece by the organisation for 2012.

Speaking at the ceremony, Dayo Keshi, the President of Afrigrowth, urged the youths to put into use the knowledge acquired thereby creating jobs for other youths.

According to her, the NGO does not have the resources to reach out to all the youths in society, hence the need for the graduands to mentor their peers. ``We have given you an edge over others; therefore, you can create jobs for yourselves and for others out there. Your generation is demanding that you change and work with the times, there is no free launch anywhere,’ she said.

Dr Carlos Torres of the Nigeria Monitoring and Evaluation Management Services said that giving back to the society was the greatest source of self satisfaction.

Torres urged the youths to develop themselves further to build their capacity to enable them garner requisite experience in managing projects. ``Knowledge, helping society, helping your peers, these are the greatest sources of happiness,’’ he said.

In his remarks, Zubairu Attah, National Coordinator of Lawyers without Borders, advised the graduands to always carryout research and apply their resources wisely. According to him, it is not about intelligence, but

knowing how to apply the knowledge.

Also speaking, Amb. Joe Keshi, Chairman of Afrigrowth, reminded the youths that life was full of challenges, which one must confront in order to succeed. ``There are jobs in the country, it depends on how employable you are and your ability to fi nd these jobs.’’

One of the graduands, Shodeinde Otolorin , said that he had been enabled to apply classroom knowledge to real life experience.

Another benefi ciary, Isaac Egboja, said the training was inspiring as he was better equipped to be an entrepreneur and face the challenges of life. He appealed to the NGO to expand the programme to accommodate more youths.

Kebbi rice farmers target 1.2m tonnes

The 26,000 registered rice farmers in Kebbi plan to

cultivate 64,000 hectares of farmland for commercial rice production.

Dodo Aliero, acting Chairman of the Kebbi branch of the Rice Farmers Association of Nigeria (RIFAN), said the farmland was prepared and allocated to the association by the Federal Ministry of Agriculture and Rural Development.

Aliero told the News Agency of Nigeria (NAN) on Friday in Birnin Kebbi that the allocation of the land for rice production was part of the Federal Government’s effort to boost food security.

He said that Kebbi was among the selected states for the pioneer programme on commercial production of rice.

The association’s chairman said that ``the Federal Government will also support farmers with 500,000 square hectares of cultivable arable land for rice production this year”.

He said that the aim of the programme was to produce rice in commercial quantity as part of efforts to bring to an end importation of the commodity.

Aliero said that Federal

Ministry of Agriculture had also allocated 15 tractors, 225 trucks of fertiliser and 102 trucks of improved rice seedlings for the take off of the strategic plan for dry season rice production.

According to him, the association has targeted to produce 1.2 million tonnes of rice this year, adding that ``the association will strive to secure a loan of N9 billion capable of realising a turnover of N24 billion per annum, especially considering the number of large-scale rice farmers and their commitment to the programme.’’

He lamented that the association had not been able to access agricultural loans in the past due to leadership tussle that engulfed the association, adding that ``we will unite and reverse the trend”.

He explained that each rice farmer would be allocated three bags of assorted fertiliser at the cost N2, 700, while crystal brand of fertiliser would be sold to farmers at N1, 500 per bag.

He said that at the end of harvesting season the Federal Government through the national offi ce of RIFAN would announce the offi cial price of rice, adding that dealers would purchase directly from the farmers at production point.

Ogun to construct micro water schemes

Ogun State Government is to construct Micro Water

Schemes with capacity of one million litres per day across the state in 2013.

Oluwatoyin Agboola, the General Manager, Ogun Water Corporation, made this known while defending the 2013 budget proposal of the corporation before the state House of Assembly on Friday in Abeokuta.

She said that construction of the Micro Water Scheme was part of government’s efforts to ensure that people have access to regular supply of potable water.

The General Manager said that corporation had proposed

to generate N240 million as revenue in 2013. “The 2013 revenue will be at the rate of N20 million per month,” she said.

Also defending the budget of her ministry, the Commissioner for Women Affairs, Elizabeth Sonubi, said the ministry generated N1.5 million revenue in 2012 as against the estimated N900,000.

Sonubi said the ministry proposed to generate N2.4 million revenue in 2013 while N835 million had been budgeted as total expenditure.

She said that N435 million would be spent on recurrent expenditure while N400 million had been earmarked for capital expenditure.

Flour Mills donates N5m relief materials to Anambra flood victims

The Anambra Government on Friday in Awka received

relief materials worth N5.1 million from Flour Mills of Nigeria Ltd for fl ood victims in the state.

The items, which comprised bags of rice, semovita, goldenvita as well as cartons of spaghetti and noodles, were presented by the company’s Milling Director Solomon Obichukwu to the state deputy governor Emeka Sibeudu.

Obichukwu said the gesture was in consonance with the company’s corporate social responsibility. ``We have followed with regret, the devastation caused to people, homes, farmlands and structures, which affected many states of Nigeria. We have decided to present a truck load of our company’s products comprising rice, semovita, goldenvita, spaghetti and noodles valued at N5.1million for distribution to the victims in Anambra state”, he said.

Obichukwu reiterated the commitment of Flour Mills to assist in providing better life for Nigerian, adding that the company had earlier visited Edo and Delta to make similar donations.

He commended the efforts of the federal, state and local governments to alleviate the sufferings of fl ood victims in

the country.Responding, the deputy

governor, Emeka Sibeudu, assured that the items would get to the fl ood victims. He said the government had been supporting the victims by providing them with funds, food items, clothes, drugs and mattresses, among others to aid their resettlement.

He said that though the camps for fl ood victims had been closed, the government was now faced with the challenges of rehabilitating the victims.

The deputy governor commended the federal and state governments, state emergency relief agency, corporate organisations and individuals who had rendered assistance to the victims

.. Kano gets FG’s N400m flood relief fund

The Federal Government last Friday donated N400

million to victims of the recent fl ood disaster in Kano state.

Amb. Bashir Yuguda, the Minister of State for Works, announced the donation when he paid a courtesy visit on Gov. Rabi’u Kwankwaso at the Government House, Kano.

The minister who was accompanied on the visit by members of the Presidential sub-committee on Flood Assessment, said that the gesture was aimed at complementing the state government’s efforts toward alleviating the sufferings of the victims of the disaster.

Yuguda, who expressed the Federal Government’s sympathy to the government and people of Kano State, commended the Kwankwaso administration for the steps it had taken to alleviate the sufferings of the fl ood victims.

According to him, the committee, which is under the Chairmanship of the Minister of Environment, Hajiya Hadiza Mailafi a, would assess the extent of damage caused by the fl ood, with a view to fi nding a lasting solution to the problem.

Responding, Gov. Musa Kwankwaso, said the state government had concluded arrangement to relocate the affected villagers.

He explained that ``the state government realises that the annual fl ood affects the same villages, hence its decision to relocate the villagers to safer areas.’’

He also disclosed that his government had awarded contract for the upgrading of three local government headquarters in the state.

On fl ooding in Kano City, Kwankwaso promised to construct a dual carriageway

Amosun, Ogun State governor

Sibeudu

Keshi

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A7 23Business CourageCourage

NewsDevelopment, Muhammed Abdullahi, said that the ministry would support the centre with two new tractors with implements.

He said that the ministry was also working on identifying 1,000 farmers that would cultivate 2,000 hectares for rice production under the proposed 2012 dry season farming.

He added that efforts were on to register close to 1,000 farmers in the rice belt of the state with a view to getting them to form clusters.

Lagos-Kano mass transit train service begins Dec. 20

The Managing Director of the Nigerian Railway

Corporation (NRC), Adeseyi Sijuwade, said last Friday that the Lagos to Kano mass transit train service would commence operations on December 20.

Sijuwade made the announcement at the fi rst management retreat of the corporation, held in Lekki, Lagos.

According to him, the rehabilitation of the tracks from Lagos to Kano, including bridges and culverts has been completed for the commencement of the train service. He assured commuters from either Lagos to Kano or Kano to Lagos safe or cheap rail transport services during the yuletide. “This formal launch would be announced soon to ensure the resumption of full inter-state mass transit services along the rail tracks on weekdays,” he said.

Sijuwade said further that adequate security would be put in place with the collaboration of the police and Man-O-War before the commencement of the service, adding that the rehabilitation of eastern railway lines terminating at Maiduguri was in progress and that trains would begin to move on the corridor in 2013.

Sijuwade who had earlier said that the retreat was aimed at bringing out the potential of the NRC, stressed the need for strategic management of assets and facilities of the corporation in line with the organisation’s vision and mission.

country by 2015. The centres are part of the Agricultural Transformation Agenda (ATA) in the Agro-input sub-sector, to strengthen food security programme of the Federal Government,’ he said.’

Tijani said that the centres were aimed at providing market information services; promote private sector investment in viable commercial agriculture and enhance food security.

He observed that each of the centres had facilities for about 500 tonnes storage capacity for fertiliser, seeds and agro-chemicals as well as provide tractor hire service.

The minister added that the centres would also enhance the activities of the Growth Enhancement Support (GES) programme.

He recalled that the fi rst phase of 62 One-stop-shop was awarded in October 2010, while the second phase of 18 was awarded in December 2011.

He said that the projects after completion were envisaged to concession to private sector operators through approved concessioning process, adding that most of the centres in the fi rst phase had been completed and ready for use.

Earlier, Gov. Babangida Aliyu of Niger said that the initiative was aimed at providing immediate high quality farm inputs for farmers.

Represented by Daniel Shashere, Secretary to the State Government, the governor said that the centres would complement the GES scheme by catering for additional farm input requirement.

He said that the state government had put in place strategies for the rehabilitation of irrigation pumps for fl ood victims in the state.

The state Commissioner for Agriculture and Rural Sijuade

From left: Mr. Ola Oresanya, Managing Director, LAWMA; Mr. Jide Sonoiki, Group Head, Collections; Mr. Lanre Adesanya, Executive Director, South; and Bimpe Olambiwonnu, Financial/Regulatory Reporting, during a courtesy visit to Sterling Bank Plc by LAWMA offi cial on Wednesday.

over Jakara stream, which runs through four local government areas in the metropolis, as part of measures to address the problem.

He thanked the Federal Government for the gesture and gave assurance that the assistance would reach those, who deserve it.

In another development, the Federal Government on Friday released 24,000 bags of assorted grains for distribution to fl ood victims in Taraba.

The state’s Commissioner for Agriculture, Anthony Jellason, disclosed this in Jalingo at the fl ag-off ceremony for distribution of relief materials to fl ood victims in the state.

He said the grains, which included maize and sorghum, would be distributed to the 16 local government areas in the state for onward distribution to the victims in their areas.

Jellason listed the state’s silos in Jalingo, Mutum Biyu, Bali and Wukari as the offi cial collection centres, adding that the distribution was free of charge.

In an address, Samuel Adaji, the Zonal Director of the Federal Ministry of Agriculture said the grains were part of the 40,000 tonnes of food distributed by the Federal Government under its Flood Recovery Food Production Plan.

He said the programme was aimed at compensating people, who incurred heavy losses during the September fl ood.

Adaji urged the state and local governments to ensure transparency and accountability in the distribution exercise.

He also appealed to those in charge of the distribution to pay more attention to women and children.

Minister reiterates FG’s commitment to provide inputs for farmers

Bukar Tijani, Minister of State for Agriculture

and Rural Development, has reiterated the Federal Government’s commitment to provide inputs for farmers before every planting season.

Tijani spoke last Friday at the launch of a One-Stop-Shop Agro-inputs Centre in Wushishi, Niger.

He said that the major focus of the Federal Government had been the task of making food available, affordable and accessible to Nigerians.

The minister explained that the ministry was mindful of the impediments of inaccessibility of quality agricultural inputs. `This impediment informed the decision of the ministry to propose the establishment of these centres in each local government area of the

AMACOS ’92 Set pledge assistance to Mapoly

The 1992 Set students of Mass Communication

department, Moshood Abiola Polytechnic, Abeokuta has pledged to assist in uplifting the state of infrastructure in the school through series of intervention projects aimed at lifting its standard. It particu-larly pledged to offer technical assistance to the Mass Com-munication department to ensure that it maintains its frontline position among higher institutions running mass communication courses in the country.

In a statement signed by its General Secretary, Salami Se-miu, part of the group’s inter-vention initiatives will involve provision of modern learning infrastructures and occasional visits to the school to obtain fi rst hand information on areas where it could offer assistance.

The group regretted that 20 years after its members graduated from the school, the state of infrastructure in the school, particularly in the Mass Communication department has not improved signifi cantly, stressing that some of the facilities used 20 years ago are still in use, not minding their current descript status.

The statement said that as part of event commemorating its 20 year anniversary, the group will on Friday, December 14 paid a visit to the school where some items, particularly those that would further en-hance the accreditation of the department would be donated.

The statement further dis-closed that six former lectur-ers of the department would be singled out for honour and recognition at its get together party slated for Saturday, December 15 at Yaba Col-lege of Technology, Lagos. The lecturers that would be feted at the 20th Anniversary get together include Professor Lai Oso, Dean, School of Commu-nication, Lagos State Univer-sity, Dr. Bayo Oloyede of the Redeemers’ University, Bidemi Osunbiyi, Taiwo Otunba and Babs Bello.

The group called on other alumni of the school to come to its aid to further uplift its social and academic standards to a more enviable level; stress-ing that efforts must be made to give back to the school in appreciation of the invaluable knowledge garnered from the school.

It also called on the Ogun State governor, Senator Ibi-kunle Amosun, who himself is an alumnus of the school to ensure that the institution gets maximum attention of the gov-ernment. “Governor Amosun himself is an alumnus of the school, so the onus lies on him to ensure that his government assist the school in whatever way possible. This can never be too much for him to do and we strongly believe that he will do the needful,” the statement said.

Tijani

Mailafi a BC

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A8 24 Business CourageCourage

Global NewsUK inflation expectations rise

Britons expect a higher rate of infl ation over the

coming year than they did three months ago, a quarterly Bank of England survey showed on Friday.

The BoE’s November infl ation attitudes survey showed that average public infl ation expectations for the next 12 months rose to 3.5 per cent from the 2-1/2 year low of 3.2 per cent in the August poll.

A rise in public infl ation expectations can act as a warning sign for central banks that higher wage demands and further prices rises in shops are in the offi ng, though to date there has been little sign of this in Britain.

At a two-year horizon, Britons expected infl ation of 3.2 per cent, and in fi ve years time they saw infl ation at 3.6 per cent. In August, the expectation was for 2.8 per cent and 3.1 per cent respectively.

The news of the rise in infl ation expectations follows the biggest jump in more than a year in the consumer price index of infl ation targeted by the BoE, which rose to 2.7 per cent in October. The people surveyed for the BoE believed that infl ation was running at a rate of 4.4 per cent, higher than in August.

Consumer price infl ation has not been below the BoE’s two per cent target since December 2009.

This increase was a factor behind the decision by some members of the BoE’s Monetary Policy Committee not to approve more quantitative easing to stimulate the economy in November, and on Thursday the MPC again voted to hold asset purchases at 375 billion pounds for another month.

Higher university tuition fees and food prices lay behind most of October’s rise, however, and there is little sign of widespread infl ation pressures in an economy which is still struggling to generate solid growth, four years after the height of the fi nancial crisis.

The BoE forecasts infl ation of about 2.6 per cent for the fourth quarter of 2013, and of 2.3 per cent for Q4 2014. BC

Galvin

US unemployment rate falls to four-year low

The US added 146,000 jobs in November, offi cial

data shows, as the economy seemingly shrugged off storm Sandy. The unexpectedly strong performance brought the unemployment rate down to a four-year low of 7.7 per cent of the workforce.

The jobs fi gure was well above most analysts’ expectations and continued a recent surge that began in July.

Weekly jobs claims registered a sharp but short-lived jump in the number claiming benefi ts in the states ravaged by the storm last month.

“Our analysis leads us to conclude that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November,” said John Galvin, acting commissioner at the Bureau of Labour Statistics (BLS), which produced the jobs report.

The jobs survey data for the individual states - which can be used by analysts to determine what effect, if any, the storm had - will not be released until 21 December.

The relatively good news for November was however offset by the BLS’s decision to downwardly revise the jobs fi gures for the preceding two months by a cumulative total of 49,000.

The October fi gure - which was originally reported just before the elections as 171,000, prompting some Republican supporters to suggest that the numbers had been manipulated - has been cut in the latest estimate to 138,000.

Moreover, despite the strong pick-up in jobs during November, the fall in the

unemployment rate to 7.7 per cent from 7.9 per cent in October was in large part down to people giving up the search for work.

The unemployment fi gure only includes those actively seeking a job, and once people stop doing so they drop out of the statistics.

The jobless rate peaked at 10 per cent in 2008, and has fallen in fi ts and starts over the past three years, but still remains some way short of the fi ve per cent level that has accompanied periods of healthy growth in the past two decades.

The number of jobs being added by the US economy since the recession ended has been far weaker than during previous economic recoveries, and has scarcely been enough to keep up with the natural growth in the US population.

The total number of people in employment has been stuck at about 58 per cent of the US population since 2009, well down from the 63 per cent level that characterised the boom years of the past decade, as many Americans have retired or given up seeking work.

The US Federal Reserve is due to meet this week to decide whether to expand the central bank’s policy of buying up debt from the markets in order to stimulate the recovery.

Crisis dims German growth hopes

Germany’s central bank, the Bundesbank, has cut

its growth forecast for next year, saying the country’s economy might be entering a recession.

Growth in 2013 is now expected to be just 0.4 per cent, compared with a forecast in June of 1.6 per cent, but is expected to bounce back to 1.9 per cent in 2014.

Meanwhile, industrial output fell a steeper-than-expected 2.6 per cent in October.

It comes one day after European Central Bank president Mario Draghi cut his forecast for eurozone growth.

Draghi blamed his move on stagnation in core eurozone countries, including Germany, France and the Netherlands.

Southern European countries, such as Spain and Italy, have been in recession for more than a year, but the malaise has spread to the rest of the single currency zone via weak export demand and falling consumer and business confi dence.

Meanwhile, the ECB’s German counterpart warned that Germany’s economy may suffer a recession during the current quarter and the fi rst three months of next year.

The Bundesbank has cut its growth forecast for the current year as a whole to 0.7 per cent, from one per cent previously, in light of what is seen to be a very poor performance since the autumn.

The Bundesbank’s view of the economy is markedly worse than it was in the previous forecast six months ago. It still thinks Germany will avoid a recession in 2013 but it doesn’t think growth will be that strong, either.

But in 2014, it forecasts that the economy will rebound to grow at nearly two per cent. German economists defend that relative optimism by saying that they expect Chinese growth to pick up and that will mean rising demand for German machinery.

Chancellor Merkel’s spokesman said she was “cautiously optimistic that we’ll keep growing”. Few expect her to lose power in the election next year. The question is, rather, with which party her CDU might form a coalition. It is possible that there will be a coalition between her centre-right CDU and the centre-left SPD.

Standard Bank to appeal $60m ruling

South Africa’s Standard Bank (SBKJ.J) said on

Friday it would appeal an

arbitration ruling to refund at least $60 million worth of shares to a union pension fund.

“Standard Bank will, within a week, appeal the whole of the award of the arbitrator,” Africa’s largest lender said in a statement, adding the arbitrator had failed to take into consideration several mitigating issues.

An arbitrator ordered the bank this month to pay at least 528 million rand ($60 million) worth of shares to a pension fund belonging to the South African Commercial, Catering and Allied Workers Union.

The case, which had previously been in litigation in a high court, dates back to a 2002 deal between the bank and the fund in which the fund lent Standard Bank shares and was later repaid.

The arbitrator ruled the deal should have never happened and ordered Standard Bank to surrender shares in mobile fi rm MTN (MTNJ.J) and media company Naspers (NPNJn.J) worth about 528 million rand, based on this week’s prices.

Fiat to cut 1,500 jobs in Poland

Italian car giant Fiat has said it will cut 1,500 jobs

in Poland because of the weak car market in Europe. The layoffs will be made at the carmaker’s plant in the southern city of Tychy.

Production at the plant has fallen during the economic downturn as output is adjusted to meet falling demand.

Demand for new cars in the European Union fell by almost 10 per cent in October compared with a year earlier, with all the major markets contracting.

Tshabalala

Draghi

Osborne, UK Finance Minister

Continue on pg A8

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A9 25Business CourageCourage

Perhaps, except those in the high class, who op-erates at the same ped-estal with her, it is very

likely that not many will know with certainty, who Folorunsho Alakija really is. Yet, this is one woman, whose philanthropic

She was born into a wealthy but highly polygamous family of eight wives and 52 children. But as fate would have it, she and her sister, Doyin survived. Today, the competitive spirit, passion and resilience which has become the hallmark of Folorunsho Alakija has put her on top of her game, emerging as the world’s richest black woman. This is the amazing story of Nigerian billionaire oil tycoon, fashion designer and philanthropist owner of Famfa Oil and Gas

By Salami Semiu and entrepreneurial endeav-ours stand her out of the crowd both in Nigeria and other parts of the world. This is the face be-hind Famfa Oil and Gas, opera-tors of the highly lucrative OML 127, a 200,000 barrel per day oil exploration and production company.

Born on July 15, 1951 into the wealthy but extremely po-

lygamous family of the Olowus in the Ikorodu division of La-gos State, Folorunsho’s father, the late Pa Olowu had 52 chil-dren from eight wives but Folo-runsho happens to be the sec-ond surviving child. Her mother was a fabric merchant, from whom she, at a very tender age, learnt how to market fabrics to Nigerian women. That was how

she developed her business and fashion sense at the very early stage of her life.

Folorunsho, according to her own account, had a very happy childhood and enjoyed her upbringing. At just seven years old, her parents decided to give her and sister, Doyin, an international education, send-ing them off to a private girls’

boarding school in Northern Wales, United Kingdom, where they were the only black people. Folorunsho and Doyin eventu-ally adapted to their new life be-coming Flo and Doy, monikers given by their English friends. After four years abroad, they re-turned to Nigeria at the behest of their parents who didn’t want

The Amazon on global radar

Alakija

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A10 26 Business CourageCourage

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‘them to lose their African val-ues, culture and tradition.

However, despite the robust childhood she enjoyed, her par-ents, not minding that only two of their 52 children survived did not treat Folorunsho and her sister, Doyin with kids’ gloves.

She recalled with fond mem-ories, sometimes in the early 1960s, when she just returned to Nigeria from her fi rst educa-tional years in England when her mother sent her to take a note to her father at home. By the time she got to her father’s room, the old man was having his nap. As she made tried to turn away with the note unde-livered, her father said, ‘You might as well put it in my mouth.’

As a teenager, Folorunsho did as he said. “I put the note in his mouth. Suddenly, he jumped up, took his brush and spanked me hard several times while telling me that I was silly, stupid and disrespectful. I did not understand why I was being spanked; after all, I had done as he asked. I cried all the way as I ran back to my mother, hoping to fi nd understanding, compas-sion and perhaps even approval from her,” she recounts.

Surprising to her, rather than comfort her, her mother further scolded her, laughed at her and told the story to every-one who cared to listen. “I could not fathom the “injustice” and wanted to get on the next plane out of Nigeria to England, as it seemed the whole of Nigeria was against me. I did not realise my folly until many years later as an adult,” she said.

Many years after she re-turned from England, Folo-runsho admitted remembering England with nostalgia and with the determination to re-turn someday.” I was sure that something was still out there waiting for me, and that with-out it, life would just be mean-ingless. I applied for an inter-national passport and a visa, which took ages. While waiting for all these documents, and be-cause I was not quite sure what the future held in store for me, I decided to apply for my Higher School Certifi cate (HSC),” she recounted.

Two years after completing her HSC studies, she got a job as a secretary at Sijuade Enter-prises then located inside the Western House, Broad Street, Lagos and worked there for a year and half, marking her ini-tiation into the corporate world.

Along the line, Modupe Al-akija, her husband, who at that time was her boyfriend, had heard of an opening at a new American bank that was plan-ning to commence business in Nigeria. She applied, and in mid-1974, she was employed as the Executive Secretary to the Managing Director of The First National Bank of Chicago (for-merly International Merchant Bank Limited and now Finbank

Plc) at St. Gregory’s Road, Ikoyi. As the Executive Secretary,

one of her fi rst tasks was to or-ganise the bank’s launch at a corporate reception, where ev-eryone relevant in the banking industry was to be invited. “This was quite a responsibility, and I got to work in earnest. I was giv-en quite a lot of free reign, and now, in retrospect, I realise that must have been what helped to sharpen my organisational skills, which have come in so handy in all my endeavours,” she said.

With the astuteness with which she handled her assign-ment, Alakija’s progression along the corporate ladder was rather swift. With her creativity and organisational skills, she became the bank’s fi rst Head of Corporate Affairs and excelled so much in that position so much that, two years later, she already had another responsi-bility waiting for her. This time,

in the bank’s treasury depart-ment, even though she had no prior core banking experience.

Prior to that time, however, Folorunsho was selected along with ten others to attend an in-house intensive banking course. She was the only non-profes-sional banker and also the only one without a university degree, but when they were rated after the training and her result was outstanding “I was very proud. I brought a lot of excitement to my new role and made a lot of friends in the banking industry. I saw it as an avenue to practice my trading and business skills for which I had a natural fl air,” she recollected.

At that point in her banking career, when she had garnered enough exposure, and made many high profi le friends and above all, had suffi cient fund in her account, the idea of quit-ting the job to put steam to her entrepreneurial dream grew

higher. She wanted to start her own business in the fashion in-dustry based on the experience she had learnt from her mother.

After some initial hesita-tion, she opted out of the bank, and went back to England for a course in fashion design, thus fulfi lling a lifelong desire to re-turn to that part of her child-hood.

On returning to Nigeria in 1985, Alakija began what be-came an award-winning, pio-neer fashion institution, Su-preme Stitches, a premium Nigerian fashion label which catered exclusively to upscale clientele, from a three-bedroom apartment in Surulere, Lagos. The business thrived, and Al-akija quickly made a tidy for-tune, selling high-end Nigerian clothing to fashionable wives of military bigwigs and soci-ety women. One year later, she emerged as the nation’s best designer and a household name, catering to many society women.

However, Folorunsho’s big-gest break came in the early 90s when she got involved in the lucrative oil and gas busi-ness. As the story goes, the idea of investing in the sector was broached by a friend she met while was still actively involved in the world of fashion.

As a starting point, she in-corporated FAMFA Oil Limited, a family-run oil and gas explo-ration and production company in September 1991 and in May 1993, Alakija applied for an al-location of an Oil Prospecting License (OPL) under the regime of former Military President Ibrahim Babangida. The license

to explore for oil on a 617,000 acre block – (now referred to as OPL 216), located approxi-mately 220 miles South East of Lagos and 70 miles offshore Nigeria in the central Niger Del-ta was granted to Famfa Lim-ited in August same year. . In February 1996, the name was changed to Famfa Oil Limited with the vision to be the leading indigenous oil and gas explora-tion and production company in Nigeria.

Incidentally, OPL 216 was an oil bloc which no one wanted at that time for several reasons, it was this same oil bloc they got allocated.

At that time, many wealthy Nigerian businessmen and mili-tary bigwigs who had been al-located oil blocs by the military administration had no clue as to the technicalities in oper-ating an oil block, so many of them typically acquired OPLs, and then fl ipped them off to international oil companies for substantial profi ts.

But Alakija was intelligent. She had no expertise or expe-rience in running an oil fi eld, but she decided not to sell off her license. In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly-owned subsidiary of Texaco) and appointed the com-pany as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off eight percent of its stake in OPL 216 to Petrobas, a Brazil-ian oil company, still leaving Folorunsho Alakija and her

However, Folorunsho’s biggest break came in the early 90s when she got involved in the lucrative oil and gas business. As the story goes, the idea of investing in the sector was broached by a friend she met while was still actively involved in the world of fashion

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A11 27Business CourageCourage

BC

‘

‘family with 60 per cent equity.

Star Deep Petroleum car-ried on with exploitation of the oil fi eld and in 2000, the fi rst appraisal well was confi rmed to have recoverable reserves in ex-cess of one billion barrels of oil equivalent.

The fi rst well which was drilled in 1999, Agbami was the fi rst prospect identifi ed with the 3-D visualisation technology for fi nding exploration targets. The wildcat was 4,700 feet un-der water, which made it the deepest water depth well at that time.

In 2000, the fi rst appraisal well was confi rmed to have re-coverable reserves in excess of one billion barrels of oil equiva-lent, thus surpassing expecta-tion and ranks among the larg-est single fi nds in deepwater West Africa.

In August 2001, an addi-tional 14 wells appraisal pro-gramme confi rmed earlier reserve fi gures. With Peak pro-duction estimated at 200,000 barrels of Oil per day, Agbami is clearly a world class and high impact project.

In February 2005, a unit-ization agreement was signed between licencees OPL 216 and OPL 217, where Statoil is the op-erator with Chevron as a partner. A Unitization agreement came to be because Agbami reservoir straddles between OPL 216 and OPL 217. Till date, wells have been drilled on the fi eld. These include wells on OML 127 side of the fi eld and wells on OML 128 side of the fi eld.

Incidentally, this discovery turned the government’s atten-tion to the virtually abandoned bloc as the Federal Govern-ment at that time immediately ordered that a 40 per cent in-terest in OPL 216 be allocated

to the Nigerian National Petro-leum Corporation (NNPC) under the Back-in-Right Regulation of 2003 which gives the govern-ment participatory rights in any OPL or OML.

The 40 per cent forceful ac-quisition means that Famfa was left with a 20 per cent stake even when the government did not pay for the stakes it allotted to itself. In 2003, Famfa applied for a conversion from an OPL to an OML, the request which was granted in 2004, thus turning OPL 216 to OML 127.

Not contented with the 40 per cent it pulled from Famfa, the government again in 2005, forcefully acquired a further 10 per cent stake in OML 127.

Expectedly, Folorunsho Al-akija immediately went to the courts to challenge the gov-ernment’s forceful acquisition which raised the government’s stake to 50 per cent and left Famfa with mere 10 per cent equity.

The company fi led a suit at the Federal High Court in Abu-ja to challenge government’s forceful acquisition. Among other reliefs, it asked the court to declare that the decision of government to take 50 per cent stake in the licence was illegal and unconstitutional. It further asked the court to restrain the government from taking the said 50 per cent stake, claiming that government’s action was arbitrary and was not done in accordance with the due pro-cess. The company said that there ought to be a negotiation before government could take the 50 per cent stake.

Expectedly, the Federal Government countered the sub-mission and argued that it had the right to take the stake.

The Federal High Court

agreed with the Federal Govern-ment, awarded the case to the government but Famfa proceed-ed to the appellate court which set aside the judgement of the High Court .

The legal rigmarole did not ended there. The Federal Gov-ernment, dissatisfi ed with the Appeal Court ruling, lodged an appeal to the Supreme Court.

However, in May this year, the Supreme Court fi nally void-ed the government’s acquisition of a 50 per cent stake in OML 127 and subsequently trans-ferred the 50 per cent stake back to Famfa Oil.

In a unanimous judgement, the apex court held that the Minister of Petroleum Resourc-es did not follow due process and the law in the forceful take- over of the 50 per cent interest in OML 127.

It rejected the argument of the Federal Government that there was an agreement be-

tween it and the plaintiff (Fam-fa) allowing it (the government) to take up 50 per cent stake in the licence.

Justice Bode Rhodes-Vivour who delivered the judgement of the court said: “The agree-ment executed by the parties was done in clear violation of the provisions of paragraph 35 of the 1st Schedule to the Pe-troleum Act. “It remains for all time a worthless piece of paper in the light of the long settled position of the law that parties even by consent cannot alter the provision of a statute.”

The court held that though the Federal Government had a right to a participating interest of 50 per cent in OML 127, and indeed in any OML, it found that there was no compliance by the Minister of Petroleum Resources with the provisions of paragraph 35 of the 1st Schedule of the Petroleum Act.

The court consequently de-

clared the acquisition illegal and unconstitutional because it offended section 44 of the constitution. Section 44 (1) of the constitution states that “No moveable property or any inter-est in an immoveable property shall be taken possession of compulsorily and no right over or interest in any such property shall be acquired compulsorily in any part of Nigeria except in the manner and for the pre-scribed by a law.”

Aside her interest in Famfa Oil, Folorunsho Alakija also has a real estate portfolio worth well over $100 million. Earlier this year, there were reports that Alakija acquired a prop-erty at One Hyde Park in the United Kingdom for $102 mil-lion through Rose of Sharon 5 Ltd. She is also reported to own a Bombardier Global Express 6000 which she bought earlier this year for about $46 million.

Alakija has since turned to the next natural step of a suc-cessful businesswoman: giving back to her community. She be-came a more religious person at the age of 40 and from then on, she found passion in caring for the under-privileged. This pas-sion led to the establishment of Rose of Sharon Foundation, a private, voluntary, non-profi t, faith-based, non-governmental Organisation based in Lagos, established to serve as vehicle for easing the burdens of exis-tence for widows and orphans, through community network amongst others.

Believing that there is a par-ticular stigma widows face that affects them adversely, her idea was to be a stop gap for these marginalised set, who by Afri-can culture and tradition lose out immediately after the death of their husbands. So her idea is to help provide a platform that aids by helping with inter-est free loans to at-least start a business or continue with one “Once they lose their hus-bands, the society turns their backs on them, their in-laws begin to mistreat them, they become depressed, they don’t know where to turn, they don’t know where their next meal is coming from.”

So far, about four years af-ter, Rose of Sharon has empow-ered about 3, 000 widows, pro-viding them with workshops to connect with other widows and share their testimonies. These women also received monetary support, scholarships for their children and interest free loans to start up small businesses.

Recently, Folorunsho was ranked as the world’s richest black woman, beating the re-cord set last year by the Ameri-can pop star actress, Oprah Winfrey. Her estimated net-worth is put at $3.3 billion.

With a 200, 000 barrels per day daily production at OML 127, Alakija’s 60 per cent stake in a $10.74 billion oil well is worth $6.44 billion.

Alakija (right) with Jonathan

Aside her interest in Famfa Oil, Folorunsho Alakija also has a real estate portfolio worth well over $100 million. Earlier this year, there were reports that Alakija acquired a property at One Hyde Park in the United Kingdom for $102 million through Rose of Sharon 5 Ltd. She is also reported to own a Bombardier Global Express 6000 which she bought earlier this year for about $46 million

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A12 28 Business CourageCourage

Management Principles

ThebuddingEntrepreneurs

Between a leader and manager

It is a common belief that management and leadership are the same role. While it is common that a manager also plays the part of the leader, these two roles are truly separate in function and in the way they add to the success of an organization. By understanding the difference

between management and leadership, you will become more effective in helping others see the road ahead.

To understand the difference between management and leadership, consider the construction of a new road. To build that road, there are workers, machinery and tools which are all vital in the road’s construction. Managers help ensure those workers, machinery and tools work together in the most effi cient way possible. A manager makes sure those workers are well-trained, motivated, rested and that they know what they’re supposed to do next. The manager does the same thing with the tools and the machinery to make sure that they’re working correctly and that the work-ers are able to use them effi ciently and safely. This is the role of management.

On the other hand, a leader makes sure that the road is going in the right direction before the construction begins. That leader also monitors conditions in new situations to ensure that the road under construction is still the correct one and is still going in the right direction.

How does this affect you as a leader? Are you spending your time managing people when you should be making sure that the road ahead is the one that you want to be on? To expect to be an effective leader, you must present a clear vision and a trail you are willing to walk on fi rst. While there are times when it is appropriate for a leader to fi ll a management role, it is vital to under-stand the difference between leadership and management so you can be effective no matter which role you happen to be fi lling at a given time. If you are a leader overseeing managers, it is impor-

Like most entrepreneurs, the road to the top is usu-ally not a rosy one and

only those who can persevere, focused and resolute could breast the tape. These are, per-haps, the same attributes that saw Wande Adalemo through the thick and thin to his pres-ent status as an entrepreneur and chief executive offi cer of Oxygen Broadband Networks, an indigenous an internet ser-vice company.

What is however striking about Adalemo’s entrepreneur-ial sojourn was that, this is a man that until 1998 never set his eyes on a computer, not to talk of knowing how to use it. He was practically green as far as information technology was concerned.

He had registered to read Mass Communication at the Olabisi Onabanjo University, Ago-Iwoye Ogun State but his interest changed when he vis-ited his uncle, Femi Adalemo, who was then the Chairman of the Nigerian Internet Exchange Committee.

It was while he was in his uncle’s offi ce that he saw, for the fi rst time, the use of the internet, particularly the use of email. “I went to his offi ce and he said he wanted to send a mail to someone in the Unit-ed States. Five minutes after, the person in the US had re-sponded to the mail and that surprised me. I couldn’t sleep that night, and in the morning, I went back to him and asked him to teach me how to develop

Driven by uncommon passionHe had set out to read Mass Communication at the Olabisi Onabanjo University, Ago-Iwoye, Ogun State but had to abandon the classroom in pursuit of an entrepreneurial dream and today, Wande Adalemo superintends over Oxygen Broadband Networks, Nigeria’s first metropolitan wi-fi/ internet service company.

By Salami Semiu something that will make Nige-rians send and receive e-mails easily. I told him I wanted to do something that would make it easier for every Nigerian to send email. He told me it was networking and that was how it started. So, as I grew in my knowledge of what the Internet access and broadband were, it became more of a passion,” he said in a recent interview.

In Adalemo’s own account, that was how he developed the passion that has today become a money spinner. But then, he admitted that getting the tech-nology was one thing and put-ting it together was another but stressed that getting funding is usually very challenging.

In his own case, it took him almost seven frustrating years before the required funding came his way.“We had spoken with a thousand of individuals to put their money in the busi-ness and the answer we kept getting was no. Eventually, we found someone and it was an interesting story. We met the fi rst investor, who later became a co-founder of the company, in 2005. I didn’t have a penny that day and then a friend of mine called and said there was some-one that is interested in this crazy idea of yours, let’s go and see him.’

Wande said that he had to trek from Iponrin, Lagos main-land to Ajose Adeogun in the highbrow Victoria Island to meet the investor. “I had met several potential investors who had discouraged me but I did not give up. So, when I got there, he told me; ‘If you cannot convince me in two minutes, I

cannot invest in this because an idea that cannot hit some-one in two minutes is no good idea.’ Well, I think I was able to hit him in two minutes and the next question he asked was how do we move?” he recalled.

That was the beginning of what is turning out to be a won-derful experience for Wande who had to forgo academics for his dream of entrepreneurship.

“The fi rst thing we did was to go around the world to see where WiMax was failing because my own idea was that WiMax will not work but WiFi will. So, how do we get WiFi to work? And from there, he got some of his friends involved in the busi-ness.”

Oxygen Broadband Net-works started out with a $2 million investment and it is be-

lieved to have so far invested N1 billion with a network infra-structure already in place and duly licensed by the Nigerian Communications Commission (NCC) as a broadband network company.

The company is using the popular Computer Village in Lagos as its pilot scheme for the Wi-Fi network to provide access to the Internet. By using Wi-Fi

Adalemo

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A13 29Business CourageCourage

BC

Personal Finance

ThebuddingEntrepreneurs

BC

Tips on setting up an advisory board

tant that you provide them with the correct perspective so they may be effective in their management role. Don’t man-age the managers. Lead them.

If you are not in a formal leadership role, it is also im-portant that you understand that when a leadership oppor-tunity arises, there is a difference between being a leader and managing the effort. Even if you end up fi lling both sets of shoes, it’s important to understand the difference in roles in order to fi ll them effectively. If, on the other hand,

you learn how to lead by showing people that you are walking down the right road, you will become a natural leader and will be able to help many others fi nd success as your achieve your own.

The four most important aspects of leadership are: • Recruiting – The ability to attract and retain the best is

imperative to the success of an organization.

• Coaching – Coaching is always teaching, rarely telling. Teaching is helping subordinates self-realize the answer on their own and not always blurting out the answer for them.

• Accountability – Creating a clear and detailed written plan that involves 30-, 60- and 90-day written goals that not only involve revenue goals, but behaviour goals, as well.

• Motivating – Understanding what motivates individuals is what will elevate them to the next level. Motivation is different for each individual and a true leader knows how to unlock it. BC

technology, he says a fault tol-erant and fl exible infrastruc-ture can be delivered. Already, a central Network Operation Centre has been put in place to enable a 24/7 monitoring of the network and to guarantee fast reaction times in case of faults by the local NOC personnel. Al-ready, over 20,000 connections are believed to be on its network in the fi rst Hot-zone.

According to him, the sec-ond phase of the company’s expansion will be the ASPANDA Market at the Lagos Interna-tional Trade Fair Complex, Al-aba and Oke Arin markets.“For or us at Oxygen, we are taking our WiFi network to a point where we have a hot spot in virtually every major street in Lagos. It begins to tell us where we need to start focusing our attention in Nigeria. It also be-gins to tell us where we need to start building broadband eco-systems. We need to start look-ing at solutions that will enable people to just plug and deliver broadband services to every-body,” he said.

Adalemo says his company believes that “your Internet should be wherever you are go-ing and instead of carrying your modem or dongle around, if you know that Oxygen is present at the place you are going to such as the cinema, restaurant, clubs and malls, among others; then, it becomes a better option for you.”

Clearly, things are already looking up for Adalemo’s Oxy-gen Broadband Networks. The

company has partnered with Nigeria’s Main One Cable Com-pany as well as with Loop21 Mobile Net, a Wi-Fi hotspot software development company located in Austria. It has also sealed a partnership deal with the Nigeria Inter-Bank Settle-ment System Plc (NIBSS), to provide its WiFi network for Point of Sale (PoS) connectiv-ity at the Computer Village and Oke Arin Market.

In order to meet up with the growing demand for its services, Oxygen Broadband Networks says it has laid out an expan-sion plan, which would see it invest another N200 million in

rolling out services in six lo-cations across Lagos State before the end of 2012.“We are doing another N200 mil-lion investment and we are going to six new locations by December 2012. We are partnering with malls on the Island, Surulere, and high traffi c restaurants. We already have agreements with all of these people,” Adalemo said.

The expansion, accord-ing to him, will see the com-pany expand to 20 locations in March 2013, and 100 lo-cations in Lagos by 2015. It would focus on Abuja, Port Harcourt and Kano later. “Of the N200 million needed to roll out services by December 2012, we have attained N75 million equity investment to date, which means that we are really set to move to these new loca-tions,” he said.

The company currently op-erates with 100 per cent pri-vate equity fund from the board of directors which he said “are putting in more funds to see us expand,” but said further that the company had already at-tracted institutional investors such as Google and Main One Cable Company, which were interested in investing in it and help boost broadband access in the country.

Adalemo emphasised that the company would continue to expand because he believed WiFi technology would play a major role in boosting Internet access in Nigeria. “Because we believe that everybody should be on the internet and we are restricted by regulations as to how to expand (we cannot cover wide area), we decided to take the internet to where everybody is going,” he said.

Expectedly, Adalemo does not regret the fact that he could not fi nish up his programme at the university but urge young Nigerian entrepreneurs not to be deterred by environmental challenges surrounding but re-mained focused, stressing that he dropped out of school when he found out that academic works were disturbing his entre-preneurial drive. “I will say that I am also a proud school drop-out because at some point, I re-alised that pursuing academic excellence was interfering with my passion for this dream. May be Oxygen would have become a dream earlier but for exams in school,” he said

He however cautioned that his position should not be mis-construed to mean that he en-courages people to drop out of school but to “think outside the box. The emphasis on paper qualifi cation in our society has not helped us. If school will lim-it you as an entrepreneur, get out; and if it will enhance you, stay with it.”

Advisory boards can provide small businesses with the valu-able guidance and support needed to chart a sustainable course for growth. However, selecting the proper advisory

board members can be a diffi cult task. Where should you look? How many members will you need? How much should you pay them? These are just some of the questions we’ll answer here.

Don’t look farYou shouldn’t have to search far and wide to fi nd members for

your board. Call colleagues, friends, and family for referrals. Speak with other small business owners in your neighbourhood. Talk to your vendors. Recently retired executives and managers are often interested in helping the business community, and they possess the proper experience to guide you. When you sit down with a candidate, be honest. Tell them your problems and aspirations, and see how they react. Is it with enthusiasm? Knowledge? Choose people you admire and with whom you’ll be able to develop a rela-tionship of trust.

Choose confi dantsThe professionals whom you ultimately will recruit for your

advisory board should be capable of handling sensitive issues and confi dential information with discretion. Again, trust is an issue and something to consider when making your selection.

Map out your expectations From the outset, establish specifi c terms of offi ce, and make

your expectations clear. How often will the board meet? How long should each meeting last? What will you offer your members in return for their time? Advisory board roles should also have term limits. It can be awkward and potentially damaging to your busi-ness’s reputation to kick out an advisor if he or she is not perform-ing. Setting term limits allows the transition to happen naturally.

Determine the size of your board Two or three people — provided they’re the right people — can

often provide a huge and tangible benefi t for a small business. You do not want too many people on your board as this will invite unproductive challenges.

Give appropriate rewardMost advisory board members won’t be in it for the money; sim-

ply being an active part of your business will be payment enough. However, people also like to feel appreciated, so offer them some sort of nominal retribution. Host an upscale lunch each meeting, or pay each member a modest per-meeting honorarium. And, of course, thank them often for their time and reward their ideas with smiles, whether you use those ideas or not.

Prepare for meetingsTo get the most out of your advisory board meetings, prepare

for them well in advance. Choose a site that is both comfortable and free of distractions. Solicit input for the agenda, and distribute important information ahead of time. Run the session as you would any professional meeting, and follow it with an action plan.

Stay in touchKeep your advisory board members informed of your company’s

activities between meetings. The fact that they’ve agreed to be on your board means that they care about the welfare of your busi-ness. If they are consistently up-to-date on the goings-on of your enterprise, they will be of greater value to you.

Distribute your business planIt may seem obvious, but it’s a good idea to distribute copies of

your business plan to each member of your board. The more famil-iar they are with your business, the more valuable their contribu-tions will be.

Maintain a professional edgeRemember that your advisors are neither employees nor suppli-

ers, and they should not be treated as such. Advisors should in no way be held accountable for the decisions of the company nor for any fallout those decisions trigger. They are there to make sugges-tions and observations based on the quality information with which you provide them. It is up to you as the owner to make the deci-sions and to implement the plans.

Create short-term goalsIf you are uncertain regarding a potential advisor or whether or

not your company even needs an advisory board, ask your advisors to help with short-term goals. Once you’ve achieved some business objectives, you will be in a better position to determine your busi-ness’s need for an advisory board. At that time you can talk about a longer commitment, or thank them for their help and continue on without a board.

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A14 30 Business CourageCourage

Smartphones, device that not only lets you make telephone calls, but also

adds in features that, in the past, you would have found only on a personal digital as-sistant or a computer such as the ability to send and receive e-mail and edit Offi ce docu-ments, seem to have come to stay. Though they are generally referred to as high-end phones as a result of the high price tag on them, these days, they come in different forms, from the pop-ular Blackberry to ipad, iPhone, Galaxy Tab, Nokia, and so on.

Generally, one major feature which they all have in common and which seemed to have been endearing many to these smart-phones has been their high-tech cameras. Today, most smartphone such as the Galaxy or the iPhone have images sen-sor of 8 megapixels or better – a capacity for quality far beyond the fi rst cell phone camera, the Sharp JS-H04 with only 0.1 mega pixels.

An investigation carried out by Business Courage has re-vealed that smartphones are daily becoming the main cam-era of choice by many people. Obadipe Ebunoluwa, a student of University of Lagos noted that the trend could continue as it is more convenient to car-ry a device which can perform all functions. “Consumers want to share their photos and vid-eos directly from the device that takes them, without needing to upload them to a PC and pro-cess them fi rst.” She said.

A cross section of people interviewed told this magazine that they have more pictures in their phones than their digital camera. While a recent study shows that about 70 per cent of Nigerians take photos from their mobile phone cameras, most journalists have also been discovered to prefer taking pho-tos via smartphones for their professional purposes. Adebayo Fayemo, a senior journalist with a Lagos based newspaper maintained that most of the

Are smartphones replacing digit Just as digital cameras disrupted the market for photographic films, smartphones and tablets are fast threatening to overthrow digital cameras. With the growing popularity and sophistication, would smartphones ever become replacement?

By Adejuwon Osunnuyi time he had to conduct inter-view, he had always relied on his mobile phone.

In a related development, a new study by a Mintel in the U.K. indicates that more con-sumers are relying on their smart phones instead of com-pact Digital Cameras for both still photos and video capture. This new study suggests that almost half of all Smart Phone owners are using their phones instead of compact Digital Cameras for taking pho-tos and videos, even though most users and experts agree that image quality is better from dedi-cated Digital Cam-eras.

While the trend that we’re seeing is that a lot of users are buying Smart Phones with built in cameras, with image quali-ty improving with each new genera-tion, connectivity has also been playing a big role, since applications available for both Apple iOS and Google Android make it easy to send images to Social Network-ing and Photo Sharing sites for viewing by others. This might not be unconnected to the rea-son a growing number of con-sumers are fi nding it much eas-ier to use their Smart Phones to capture and share images, against using their dedicated digital cameras for the same purpose, with the smart phones needing fewer steps to share the images with others, thanks to built in internet access and ap-plications designed to interface with Social Media and Photo Sharing sites.

For example, we’re seeing more cameras capable of up-loading images directly to photo sharing and social media sites as time passes; thanks to the inclusion of Wi-Fi. One example is the recently reviewed Sam-sung WB850F, which includes Wi-Fi connectivity that allows users to directly upload pho-tos to Social site like Facebook,

photo shar-ing sites like

Picasa, or upload videos directly to You-

Tube.While more people are

discovered to be using the smartphones for taking pic-ture, there have been growing fears that point-and-shoot digi-tal cameras, once the darlings of amateur photographers, are slowly being pushed out of the market, thanks to the growing popularity and sophistication of smartphones. This has put in danger Japanese companies like Canon, Olympus, Nikon and Sony who previously owned that market.

Nadine Deisenroth, market-ing manager of HTC Germany, reassured that they consider cameras as an important part of their smartphones. Thus, they will continue improve phone-cameras in the future. Those mobiles come with fea-tures to record videos and shoot pictures at the same time and shoot a huge number of pictures within a few seconds time. Pictures taken by smart-phones even have the quality to be printed which means they also can be used for profession-al purposes.

Just as digital cameras dis-rupted the market for photo-graphic fi lms, smartphones and tablets, experts have said these devices might soon overthrow digital cameras.

Though the biggest problem with smartphone images has been “noise” or artifacting that make the pictures look grainy, it is not surprising that now cameras such as the Nokia Pur-view are on the leading edge of a revolution in photography.

For instance, regarded as the fl agship Windows Phone 8 smartphone, Nokia’s major sell-ing point for its newly introduced Nokia Lumia 920 and Nokia Lu-mia 820 has been the superior power of its camera lens.

Using advanced fl oating lens technology, the camera in the Nokia Lumia 920 is able to take in up to fi ve to ten times more light than competing smart-phones, enabling users to cap-ture sharp, crisp pictures and videos even indoors and at night, without using fl ash. This is com-plemented by Optical Image Sta-bilization (OIS), a fi rst of its kind feature which prevents pictures and videos from blurring when users are on the move.

The main camera features advanced optics which makes it possible to capture clear, bright pictures and video indoors and also at night. This is thanks to the PureView technology and Carl Zeiss lens which also compensates for hand move-ment and provides image stabi-

lization, so all you photos look great. It also means that your videos are stable and more en-joyable. The Nokia Lumia 920 also comes with Nokia City Lens, the latest addition to the Nokia location suite.

Vice President, Nokia West Africa, James Rutherfoord told reporters and VIPs at the launch of the new smart phones in La-gos that the Nokia Lumia 820 and Nokia Lumia 920 are ready for business with a full busi-ness suite right out of the box, comprising of Microsoft Offi ce suite, Sky Drive and Microsoft Lync. He explained that Nokia hoped to satisfy the needs of business and non-business smart phone owners with its current and future range of Lu-mia devices.

“These are the best devices we have made in the smart-phone category and we believe that this is going be much ap-preciated by our consumers. At Nokia, our focus is to bring the very best of technology to our consumers which aid, excite and benefi t their work and so-cial lives,” he said.

Indeed, the future is look-ing far from fl ash for the digital camera market. While the mar-ket was valued at an impressive £843 million back in 2006, by 2016 it is forecast to have de-clined to just over half a billion (£523 million). In addition, the picture is no more positive for camcorders, which have expe-rienced a 21% decline in sales

their phones ct Digital pho-en rs e y --

d s

ty

photo shar-ing sites like

Picasa, or upload videos directly to You-

Tube.Canon Camera

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A15 31Business CourageCourage

TechnotipsTechnotips

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al cameras?

over the past fi ve years, down from £354 million in 2006 to £279 million in 2011.

Samuel Gee, Technology An-alyst at Mintel, said:“Although smartphone cameras do not typically match the quality of output of dedicated devices, the technology is consistently im-proving, as the quality of cam-era image output becomes too high for consumers to reliably distinguish between competi-tors. Dedicated device manu-facturers investing in digital services and including social connectivity and image-editing features in upcoming devices will remain a more enticing proposition in the face of gently growing opposition.”

Today, as many as 80 per cent of all consumers capture photos with a digital camera or camcorder and some four in ten (40 per cent) only use a digi-

tal camera or camcorder. This compares to almost half (45 per cent) of consumers who use their smartphone to capture photo or video. Meanwhile, the traditional fi lm-camera is used by just 8 per cent of all Brits.

In terms of purchasing, four in ten (39 per cent) camera owners purchased a camera to replace their old one. Around a third (34 per cent) of consum-ers purchased a camera for their holiday (34 per cent) while almost one in fi ve (18 per cent) purchased a camera to record a specifi c event.

Some 21 per cent of all camera and camcorder own-ers agree that smartphones are a better long term invest-ment than a camera or cam-corder owner. However, while there is a trend toward using smartphones for photo taking, over seven in ten (71 per cent)

Microsoft’s New Offi ce 2013 will feature a lot of in-novations and great specs that will give users the required impetus in the new digital surrounding.

Both business models and consumers will reap the benefi ts as the Microsoft Offi ce 2013 is designed to deliver awesome fl exibility and productivity due to inclusion of cloud service and pairing facility with new Windows 8. Excellent features of Offi ce 2013 are discussed below –

Applications – There will be Windows 8 styles apps in Of-fi ce 2013 such as Lync and OneNote which will provide you with amazing touch-fi rst experiences on the favorite tablets. Accessing the features with fi nger has been made simple due to radial menu.

Connectivity – You can do a lot of things in SharePoint such embedding and viewing Offi ce contents, videos and pictures. You are also free to follow sites, documents, teams and people.

Meetings – The fresh Presenter View will offer you quality information about the speaker notes, presentation time, up-coming and current slides in the PowerPoint. Presentations and meetings will be much easier for you with zooming, marking playing HD videos and navigating slides with stylus and touch.

Inking – Email responses can be handwritten and converted into text. You can also create contents, access features and take notes with the help of stylus.

Markup and reading – Get an enriched reading expe-rience in Word through Read Mode. The consumer can further turn pages by touching, see the revision marks and stream new videos even in Word.

SkyDrive – Your documents will be saved in SkyDrive which makes them accessible anywhere via tablet, PC and phones. Syncing facility is also there and you can further access those documents in offl ine mode.

Skype – Every month, the customer will get 60 world minutes on Skype which is now incorporated in Offi ce 2013. Contacts can be easily synced with Lync.

Digital Note-taking – It will allow you to access all the documents and fi les with OneNote through multiple devices. You can easily take notes with the help of keyboard, pen or touch.

Subscription – If you are interested in getting elegant cloud services to avail extra storage in SkyDrive and extra minutes in Skype; you can easily enroll yourself in the new subscription service. It is in fact, cloud-based and you will get all the future upgrades.

Touch feature – The fresh Offi ce 2013 offers you a great response to touching just like mouse and keyboard. Touch-ing and swiping fi ngers will be easier for you to zoom and read documents and presentations.

strongly agrees that the quality of photos is bet-ter on a digital camera or camcorder than a smart-phone. One in fi ve (19 per cent) Brits have bought a compact digital in the past 12 months, with around the same number (22 per cent) claiming they do not own one.

“As newer technology continues to improve the specifi cations of top-end equipment, measure-ments like megapixel density or the top level of optical zoom possible will become meaningless to consumers best served by less expensive, middle-of-the-fi eld devices. Cam-era manufacturers must choose to either invest in a web service that comple-ments captured photos or video, or to focus on in-cluding new, innovative hardware capabilities and

modifi cations, to retain con-sumer interest.” Sam continues.

Once, the photo shop was an essential port of call for any re-turning holiday-maker, but to-day just 23 per cent of camera owners take their photos to be developed there. While around four in ten (42 per cent) digital camera owners print their pho-tos at home using their printer, more than a quarter (27 per cent) of all consumers prefer to look at photos on a PC screen rather than print them out.

So, what are the camera manufacturers doing about it? The fact remains that not all hope is lost however. The fi rms have been working to augment camera features to make them more attractive, such as water-proofi ng or sharing on social networks. Many believe that there is still a market for digital cameras in growing economies where not everyone can afford a smartphone. But while the companies have not yet conced-ed the battle, analysts say that the trend will most likely con-tinue as smartphone camera technology steadily improves to rival even professional digital cameras.

For one thing, some of the digital imaging sensor manufac-turers are refocusing their efforts more towards Smart Phones and Tablets. For example, Sony recently announced that it is increasing total production ca-pacity for image sensors to ap-proximately 60,000 wafers per month to supply image sensors mainly for Smart Phones.

As the smartphone manu-facturers continue rolling out products, the question remains who will win the battle? Only time will tell.

Rutherfoord

iPhone camera

New and interesting features of Office 2013

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A16 32 Business CourageCourage

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Etisalat offers two power bike at EasyBlaze RoadshowStories by Adejuwon Osunnuyi

Etisalat has brought the 3G Easy Blaze road show

to an end with the presenta-tion of power bikes to two lucky winners.

The event, which took place at the Silverbird Gal-leria, Victoria Island, Lagos over the weekend, was part of a series of road shows organised to educate Etisalat customers and internet us-ers on the advantages and effectiveness of the EasyBlaze broadband internet service.

Director, Products and Services, Etisalat Nigeria, Lu-cas Dada said that the road show was part of the numer-ous activities the company is using to showcase the ef-fi cacy of its 3G service. “With the extension of our 3.75G service to more cities across Nigeria, Etisalat in the last three months embarked on a road show to showcase the speed and uniqueness of our Easyblaze broadband internet service that gives users real value for money. Etisalat’s 3.75G network is unique in the sense that it is the high-est technology attainable in the 3G network category. Our network is capable of attain-ing 42mbps, which is the highest speed obtainable on the 3G network,” he said.

... appointed first GSM Apple authorised reseller

Etisalat Nigeria has en-tered into a deal with

Core Group Africa, the Apple authorized distributor for Nigeria, to make its products readily available across the country. The deal makes Etisalat the fi rst mobile net-work operator to become an authorised reseller of various Apple iPads and accessories in Nigeria.

Chief Commercial Offi cer, Etisalat Nigeria, Wael Ammar said that with the signing of the agreement between the two companies, Etisalat will be the fi rst telecommunications op-erator permitted to sell Apple’s iPad in selected retail outlets spread across the country, while offering a two-year war-ranty cover on all iPad devices sold.

In addition, he said that the company will also offer custom-ers who purchase the products at its Experience Centres with a 12-month free internet data access on its super fast easy blaze product. He however pointed out that the two-year warranty will only apply once the subscriber registers the iPad purchased from Etisalat on www.isocietynigeria.com.

He assured that the com-pany is ready and well posi-tioned to provide its customers with best support services and support on iPad in Nigeria. He said that with the deal, Nigeri-ans are now able to purchase authentic iPad products in Nigeria with the peace of mind that this will be fully supported locally.

East Africa steals the show at the Dstv Eutelsat star Award

Anthony Oyom Peter, a Ugandan and Eva Chemw-

gorem, a Kenyan have emerged winner of the second edition of Dstv Eutelsat star awards organised for high-school stu-dents from across Africa.

Organised by Eutelsat and MultiChoice Africa, Oyom Peter was chosen for his essay while Chemwgorem won based on her poster.

Anthony came out top in the Best Essay Award category with his entry “A watchful eye from above the heavens” that impressed the judges with its creativity. Chemwgorem’s “Af-rica united through satellites” won The Best Poster Award . This is the second year that a Ugandan student takes fi rst place in the DStv Eutelsat Star Awards, after last year’s win-ner, Mary Musimire.

Antony’s prize is a trip with one of his parents to watch a live rocket launch and a visit to Eutelsat in France while Eva will also visit Eutelsat’s Paris headquarters to get a closer insight on satellite technology.

Awards for the runners up for Best Essay and Best Poster Awards went to Charles Finch from Swaziland and Tony Tumnsiime from Uganda who will both visit MultiChoice’s broadcast facilities in Johan-nesburg, South Africa.

Tanzania’s Deputy Minis-ter of Communications, Sci-ence and Technology, January Makamba, who encouraged the founding sponsors in their

efforts to provide sustainable solutions to some of Africa’s social challenges tasked the private sector to collaborate with government in order to play a meaningful role in the sustainability of communities and the furthering of education in our young minds.

Of the over 1100 entries from across the continent, the fi nal judging panel reviewed the work of 10 fi nalists.

NSE deploys NIGCOMSAT e-voting solution for elections Stories by Kunle Azeez

In what many industry pro-fessionals have described as

a pioneering landmark in the history of Nigeria, the Nigeria Society of Engineers (NSE) at the weekend successfully con-ducted its yearly general elec-tions online real-time through an e-voting system manufac-tured locally by engineers at Nigerian Communications Sat-ellite Limited (NIGCOMSAT).

The elections were moni-tored by participants and voters online either on their laptops or smartphones that are internet enabled.

Prior to the election, data of the members were captured electronically and biometric information taken.

At the venue of the elec-tion, the data was accessed electronically and accreditation was smooth.

NIGCOMSAT provided mobile internet via Very Small Aperture Terminal (VSAT) for connectivity to broadcast events online real-time on the NigComSat-1R satellite.

By this means, participants and contestants monitored the procedures online real-time as voting was updated on the dedicated website for the elec-tion as each voter cast his or her ballot.

The elections were conduct-ed at the Kwara Hotels, Ilorin and transmitted live on NTA Network.

NSE President, Mustapha Balarabe said, the engineers have done it again adding that “this innovation from our engineers at NIGCOMSAT

is commendable. It is novel and we are the pioneers, and this has proved that so many good things could come out of Nigeria and we engineers are pioneers in this regard of e-voting.”

He said engineers have done what could be adopted by government in future general elections that is likely to save the Country from incessant huge capital fl ights.

This, he said will free the country from post-election ran-cour and litigations by those who lost and think that the elections have been rigged in favour of their opponents.

Microsoft, Phase3, Main One back Tent Gathering 2012

Key players in the Nigeria’s Information and Commu-

nication Technology, including software giant, Microsoft, Na-tional Long Distance Operator, Phase3 Telecoms and whole-sale broadband capacity com-pany, MainOne, are the lead sponsors of the fi rst edition of a student technology gathering organised by Paradigm Initia-tive Nigeria (PIN), a non-profi t social enterprise that connects young Nigerians with ICT op-portunities.

Tagged, TENT Gather-ing 2012, the project exposes today’s Nigerian students to technical, business and lead-ership requirements for ICT innovation. TENT is a acronym for Techie, Entrepreneurial, Nigerian and Talented

According to PIN, the vi-sion of the programme is to help jumpstart the culture of innovation and enterprise in the mould of global companies that started from the university halls of their young founders.

Chief Operating Offi cer of PIN, Tope Ogundipe, who announced the scheme, said, “PIN is proud to enjoy the sup-port of these leading technol-ogy companies that have once again demonstrated their com-mitment to capacity building in Nigeria.”

Speaking on the sponsor for the programe, Ogundipe said Microsoft has been PIN’s partner for a long time, adding that PIN was glad that Micro-soft had found TENT Gathering as canother worthy programme to support.

“We believe that Phase3’s support is the beginning of a new relationship that will add value to Nigeria’s ICT sector through the empowerment of students. MainOne’s entry into Nigeria changed the game for Internet access and we are glad to have them as long-term partners for our annual TENT events.”

She explained that this year’s edition of TENT gather-ing is scheduled to hold at

the campus of one of PIN’s Knowledge Partners, Obafemi Awolowo University, Ile-Ife.

Airtel rolls out new 0701 number range

Airtel Nigeria has unveiled its new number range,

0701 at the Airtel Night of In-fl uence, a high profi le event, recently in Lagos.

With the introduction, guests at the exclusive event were offered a special privi-lege to reserve their preferred numbers in the 0701 series. Numbers allocated to cus-tomers will become fully ac-tive as soon as Airtel fi nalizes arrangement to kick off with the implementation of the new number range.

The new numbering scheme refl ects the increas-ing growth in both the capac-ity of the network as well as

its subscriber base. Airtel’s Chairman, Oba Otudeko dis-closed during the event that the network has capacity for double its existing 22 million subscribers.

Airtel added additional 5.5 million subscribers in less than two years and its grow-ing rapidly as it reaps the gains from its trend setting and revolutionary approach to empowering telecoms con-sumers.

The Airtel Night of Infl u-ence is a high-octane net-working platform provided by the leading telecommunica-tions services provider for interaction and discourse on issues in the Nigerian and African political economy.

CNN anchor Dr. Fareed Zakaria provided insights and analyses of African and Nigerian political economy for the distinguished audience of high net worth persons at the event at the Zinnia Hall of Eko Hotel & Suites.

Speaking at the event, Zakaria, renowned journal-ist, internationally acclaimed author and host of popu-lar Fareed Zakaria’s GPS on CNN called on Nigerian leaders to take charge of the country’s future by investing in the educational sector to provide quality foundational education for children.

Dada

Otudeko

Balarabe

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A17 33Business CourageCourage

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The board of directors of Energy Company of Nigeria (ENCON) Plc last week announced moves to make

history by listing the company on the Daily Offi cial List of the Nigerian Stock Exchange (NSE) before the end of the second quarters of 2013. If this target is achieved, ENCON Plc will become the fi rst core energy company to be listed on the bourse.

The timing of the listing according to Engr. (Dr.) Abidoye Ayoola, chairman, ENCON Plc is on the heels of recent developments in the capital market. Speaking at the company’s 7th Annual General Meeting held in Lagos last week, the chairman noted that the Nigerian capital market which has been unstable and depressed in the last three years has commenced gradual and steady recovery.

Describing the recovery as a refreshing development, he stated that the company’s stockbrokers and capital market specialists have advised it to commence preparatory work towards the listing, expressing the board’s appreciation for the understanding of shareholders. He stated that barring any unforeseen circumstance, the company’s shares will be listed not later that the second quarter of 2013.

As the company warms up for the listing, some of the questions which prospective investors will likely be interested in getting responses to before taking position includes; what the background of ENCON Plc is? Who are the drivers of the company? What are the potentials the new equity to deliver value for investors? What is the fi nancial history of the company? As well as, how investor friendly is the board?

ENCON Plc is an independent power producer incorporated as a private company in Nigeria in 2004. The company was established primarily with the purpose of taking advantage of the deregulation of the electricity supply industry in Nigeria. In February 2009, it was converted to a Public Limited Liability Company due to

expansion and growth.The primary activities of the company

are power development, generation, distribution and supply of electricity. Since inception, the company has established some subsidiaries through which it carries out its activities. These include the Ewekoro Power Limited, Ikorodu Industrial Power Limited, Ilupeju Power Limited and Uni power Agbara Limited.

The company’s turnover for the period ended December 31, 2011 dropped by 56 per cent to N0.803 billion when compared with N1.83 billion posted in the similar period of 2010. According to the chairman, the decline in turnover was as a result of partial operation of Ewekoro Power Limited and non operation of Ikorodu Industrial Power Limited during the period.

Expatiating on the company’s performance during the 2011 fi nancial year, Ayoola noted that only two out of its fi ve existing subsidiaries, Unipower Agbara Limited and Ilupeju Power Limited supplied power to their customers fully during the year. According to him, during the 2011 fi nancial year, ENCON added the Nigerian Bottling Company (NBC) as one of its prime customers for the supply of 3MW power for an initial take-off period of fi ve years while it lost its Ewekoro Power generating contract. The NBC plant according to him, commenced commercial operation in the fi rst quarter of 2012, while the Ewekoro Plant was terminated by Lafarge Wapco when it completed its own power plant.

Ayoola said that the loss of the Ewekoro contract, a major source of revenue negatively impacted on the company’s revenue and profi tability in the year under consideration.

Besides this, the Ikorodu Industrial Power Plant remained redundant for the better part of the year due to non resolution of the contentious issues in its take-off agreement. According to him, a hike in gas price in 2010 had caused substantial

burden to consumers, especially those supplied by private electricity companies.

He stated that with the introduction of new billing system tagged MYTO2 in the year, the grid market became more attractive and thereby broadened the market for electricity. Consequently, the company, he said, is presently considering exploring the possibility of connecting the Ikorodu plant to the national grid as an alternative solution. He stated that a bilateral agreement with the Ikeja Distribution Company for the sale of the power from the plant is being negotiated.

But then, it was not a year of only dooms, as key initiatives that will determine the future prospect of the company were equally achieved during the period. One of such is the 144MW plant for Onne Oil and Gas Free Trade Zone, in Rivers State.“On a very promising note, I would like to inform you that your company is at the threshold of a major transformation to a big player in the emerging power market in Nigeria. Before mid 2013, we expect to commence work on the 144MW plant for the Onne Oil and Gas Free Trade Zone, Rivers State. This is a result of the company winning the bid for 25 years power supply concession with the Nigerian Ports Authority (NPA)/Federal Ministry of Transport,” he told shareholders at the meeting.

Speaking further on the prospects of the company, Ayoola said that the company had been selected as one of the power providers to construct gas fi red plant of initial capacity of 144 MW from its existing Ikorodu site for supply to the national grid under the power sector reform agenda. Both the Onne and Ikorodu projects are undergoing pre-development activities such as Environmental Impact and Social Assessment Studies (ESIA), preliminary engineering design, due-process compliance, technical, fi nancial and legal diligence.

He told shareholders that the company has expended over N250 million at this

preliminary stage to bring the project to fruition, stressing that the two projects will cost about $450 million or N72 billion on completion. He assured that the owners of the company have a lot to gain from their investment in the company as these two projects alone will bring about a quantum leap in return on investment, capital appreciation and a robust balance sheet.

Ayoola was quick to alert shareholders on the implications of the expected growth, his words, “It is also noteworthy that the emerging growth opportunities and the transition from a small to a big power company will necessarily come with its own challenges. It will require us to strengthen the human and fi nancial resource capacity, governance structure, as well as our internal process and corporate brand. I want to assure you that the board of directors and management are proactively preparing for these challenges in the overall interest of the company”.

There is no doubt that ENCON Plc if properly managed will deliver value for investor. For instance, despite recording a drop in turnover in the 2011 fi nancial year, the company posted a profi t before tax of N559 million as against N324 million in comparing period of 2010 representing 73 per cent increase. However, the growth in profi t was attributed to gains arising from divestment from the Lagos Island Power Limited.

Meanwhile, profi t after tax hit an all time high of N519 million representing 476 per cent increase when compared with N89 million in 2010. Shareholders’ fund grew by 10 per cent to N5.629 billion from N5.13 billion. As a result of the improved fi nancial situation, dividend paid-out also appreciated by 100 per cent to 10 kobo per share as against fi ve kobo paid in the previous year.

With the prospect that ENCON Plc has presented to investors, indeed, there can be no better time for it to be listed on the NSE than now.

Can ENCON Plc cope with the challenges of listing?

Tuesday last week, at the opening of the 18th National Economic Sum-mit Group (NESG), Frank Nweke

Jnr, the group’s director general revealed that foreign investment fl ows into the country in the 12 months to June 2012 fell by 19.14 per cent to $10.4 billion, from $12.8 billion a year ago.

What this imply is that, placed on a 10-point scale, the economy scored 4.18 points, or 41.8 per cent, leaving a dis-tance of 58.2 per cent yet to be covered. This fact also made the share of foreign direct investment to shrink to 43 per cent from 62 per cent recorded in the preced-ing year.

Nweke said that areas like infrastruc-ture and political governance scored be-low the aggregate, stressing that the low point was as a result of unending probes into untraceable public funds which have created a high level of public distrust for politicians. According to him, out of 144 countries, the Global Competitiveness Report ranks Nigeria as 102nd in terms of public trust for politicians, 122nd in terms of patriotism in decision making and 135th in terms of diversion of public funds.

Aggregately, however, NESG believes that the resurgence of violence, particu-larly the activities of the Boko Haram is responsible for the economic decline. “These results collectively echo investor

perception about the extremist insur-gence in the northern part of the country and gradually renewing militancy in the Niger Delta and the resultant negative im-pact on investments into the country.”

Interestingly, however, three days af-ter the NESG verdict, the global corrup-tion watchdog, the Transparency Interna-tional (TI) came out with its own report, ranking Nigeria as the 35th most corrupt country in the world. In the TI’s report, Nigeria scored 27 out of a maximum 100 marks to clinch the 139th position out of the 176 countries surveyed. Nigeria shared such ignominious position with countries like Azerbaijan, Kenya, Nepal and Pakistan. Sadly too, neighbouring countries like Togo, Republic of Benin, Mali and Niger even fared better in the ranking.

Clearly, there is a parallel between the dwindling infl ow of foreign investment as revealed in NESG’s account and the country’s rating by Transparency Inter-national.

Though this year’s Perception Index is a slight improvement on that of last year, when the country was ranked as the 37th most corrupt country and 143th of the 183 ranked countries, the fact remains that all these variables add up when critical investment decisions, particular-ly those based on long term investment plans are considered.

In fact, in my mind, the negative im-pact of deep seated corruption as we have it here, markedly outweighs the effect of Boko Haram and the Niger Delta mili-tancy combined. Though the activities of the terrorist group have wrought incalcu-lable damage to the integrity of Nigeria, the restricted nature of the group’s activi-ties may in all honesty, not be signifi cant enough to drive away genuine investors from the country.

The major bane, which groups like Transparency International have con-sistently emphasised but which political leaders have done practically nothing sig-nifi cant to address, remains the hydra-headed corruption monster, which has eaten so deep into the fabrics of the coun-try and its people.

What is particularly worrisome is the fact that successive administrations, in-cluding the incumbent have repeatedly emphasised zero tolerance to corruption and corruptive tendencies but with little or no serious effort made to fi ght it.

Till date, those indicted in the Halli-burton corruption scandal are still being treated like national heroes even when their foreign collaborators have been pros-ecuted and jailed or fi ned in their respec-tive home countries.

The recent revelation from the fuel subsidy probe viz a-vis the way and man-ner the government has being handling

the prosecution of those indicted in the multi billion naira scam leaves so much to be desired.

This is even the reason why I fi nd gov-ernment’s explanation and sometimes condemnation of some of these ratings and reviews rather disturbing and irre-sponsible.

Rather than admit its ineffi ciency and failure, government has always found it convenient to engage in the blame game, either accusing its perceived adversaries or what it sometimes choose to call “ir-responsible media exposure” as justifi ca-tion for its poor ratings.

This same worn out path was toed last week by Labaran Maku, Minister of Infor-mation when he said that the Transpar-ency International’s report and a similar one by Galup Poll were synopsis of nega-tive media report.

It is not enough for the government to continue to blame its inadequacies on perceived adversaries. The hallmark of a responsible government anywhere in the world is to take full responsibilities for all its actions and inactions.

The major step towards tackling the corruption problem must start with the government admitting failure for not been sincere enough in its previous actions in tackling the cankerworm and resolving to, unequivocally step up effort to address the malaise.

No matter how much the likes of Maku tried to shore up Nigeria’s image, nothing will change until it becomes glaring to the entire world that the government is really very serious in addressing the issue of corruption. No amount of window dress-ing can do the damage.

Corruption rating and drop in FDI

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A18 34 Business CourageCourage

Behind d WheelsThis page is open to sponsorship

Back in the 1970′s and ’80′s, there were more than a few true clunk-

ers that suffered from dubious engineering, poor build quality, vague fi t and fi nish and uncer-tain durability. Component fail-ure was not a simple matter of a “check engine” light illuminat-ing on the instrument panel, it was of far greater magnitude, with engine blocks cracking, manifolds. With the industry having made great strides over the last two decades in terms of design, performance and dura-bility, it doesn’t take much for a new car to get slammed these days for what once would have been considered minor infrac-tions.

Consider that Consumer Re-ports dropped the Honda Civic from its “recommended” list after its model-year 2012 rede-sign, not because it was an aw-ful car, but because it wasn’t deemed as good as some of its competitors. The 2012 Civic is found to be less agile and with lower interior quality than its predecessor. (Honda has since rushed a nominal redesign of the Civic for 2013 that seems to address most of its perceived defi ciencies).

According to a report by Forbes.Com, multiple sources, tempered with its own new-model test-driving experience, came up with the proverbial rogues gallery of unlucky new cars across a broad spectrum of vehicle types that just don’t hold up under the glare of scru-tiny. According to Forbes.Com, the report is based on Con-sumer Reports‘ ratings for per-formance, reliability and other factors, cross checked against the latest Initial Quality, Ve-hicle Dependability and Per-formance, Execution and Lay-out Studies conducted by J.D. Power and Associates. It looked at residual value predictions for 2013 models compiled by Auto-motive Lease Guide and person-al injury claims data from the Highway Loss Data Institute. Finally, it noted how well each vehicle performed in crash tests conducted by the US National Highway Traffi c Safety Adminis-tration and the Insurance Insti-tute for Highway Safety to come up with the 11 new cars it feels are best avoided by discerning

drivers. Dodge Jour-

ney Despite receiving

a much-needed interior makeover and a new V-6 en-gine offering for a model-year 2011 revamp, and even in light of the Dodge Journey offering some clever features, such as in-fl oor storage bins, this mid-size crossover SUV still lags be-hind the competition in terms of refi ne-ment and reli-ability. Though the aforemen-tioned V-6 works admi-rably mated to a six-speed automatic transmis-sion and all-wheel-drive, the base powertrain that comes with front-drive models – a disappointing 2.4-liter 173-hp four-cylinder engine and awk-ward-shifting four-speed auto-matic transmission – is just not up to snuff. Consumer Reports says it’s, “mediocre overall…its lack of agility makes it feel like it’s larger than it is.”

Jeep Compass / Jeep Pa-

triotThese mechanically-related

fi ve-passenger crossover SUVs were upgraded with improved interiors for 2011; the Com-pass got an exterior makeover to make it look more like the larger Grand Cherokee, while the Patriot continues with its more-militaristic look. They’re still below-par performers, how-ever, with lacklustre four-cyl-inder engines and a choice of a clunky fi ve-speed manual or a lazy and harsh-sounding gear-less CVT automatic transmis-sion and are rated among the

This page is open to sponsorship

our-

receiving eded interior nd a new V-6 en-

f d l

worst performing models in their class.

Jeep WranglerThis brash SUV can trace

its lineage to the original Jeeps from WWII, and it remains among the most off-road ca-pable models on the market. While the Wrangler has received steady improvements over the years to help make it more civi-lized, even adding four-door Un-limited models to help broaden its appeal, it remains inferior to virtually all other vehicles in terms of sophistication, accom-modations and on-road perfor-mance.

Nissan Versa Hatchback While the sedan version of

the subcompact Versa was re-cently redesigned, the stubby tall-roofed hatchback version won’t get a makeover until next year, and so it trundles on in its current rental-car-quality rendition. It received the triple crown of below-average marks

for initial quality, design/per-formance and reliability and it was cited for having among the highest injury-claim frequen-cies.

Nissan Xterra The midsize Xterra is a back-

to-basics SUV that’s outclassed by many other truck-based models and certainly most car-based crossovers. Since the Xterra’s part-time four-wheel-drive system must be manu-ally engaged, it’s not as useful under most circumstances as would be an automatic full-time system. The vehicle’s ride can get downright bouncy at times with the steering becoming un-nerved over rough roads.

Smart ForTwo This diminutive model is

small even by micro car stan-dards and is woefully under-powered. It’s saddled by an

eccentric-shifting transmission, is largely impractical with only two seats and negligible trunk space and delivers a rough and noisy ride. On the plus side, it’s able to park in roughly half the space of a normal car. It’s among the worst performing models tested by Consumer Reports, and takes a leisurely 14.6 seconds to reach 60 mph. Fuel economy is decent (but not spectacular) at 34/38 mpg city.

Suzuki Grand VitaraSuzuki is soon to be a so-

called orphan brand, with the automaker closing its U.S. new-vehicle distributorship and ex-iting the market in the coming

11 new cars to avoid

g p, and even in light ge Journey offering

features, such as age bins, this mid-er SUV still lags be-ompetition refi ne-reli-

ugh en-V-6 mi-ed eed ransmis-

for a model-year

f i d l f i i i l li d i /

Jeep CompassJeep Patriot

Nissan Versa Hatchback

Smart ForTwo

Jeep Wrangler Nissan Xterra

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A19 35Business CourageCourage

Behind d Wheels

AutocareThis page is open to sponsorship

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Common transmission problems and how to fix them

months. While Suzuki says it will honour all warranties, its cars will likely become more dif-fi cult to service down the road and take a major hit in terms of resale value. The compact Grand Vitara SUV compounds those problems with uninspir-ing performance; it’s noisy and sluggish…steering is somewhat vague and handling is reluc-tant.

Suzuki KizashiThis modest midsize sedan

is reasonably likeable, though it’s overshadowed by most oth-er models in its segment. It will

soon be orphaned along with the rest of the Suzuki line as the brand winds down its US auto operations. Kizashi’s four-cylinder powertrain is rather leisurely…the CVT (transmis-sion) makes the engine work hard and noisily to keep up the pace.

Suzuki SX4 With Suzuki shuttering its

US car sales, this barely ade-quate subcompact sedan, four-door hatchback and mini-cross-over combo becomes an even tougher sell. While it comes de-cently powered – at least on pa-per – with 150 horsepower, its four-cylinder engine, “drones on the highway and delivers

slow acceleration…the ride is stiff and the cabin is noisy. The interior is cramped for all but the shortest riders and the car gets unimpressive fuel economy at 23/30-mpg city/highway.

Volvo XC90 Long in need of a redesign,

the aging – and expensive – Volvo SX90 seven-passenger crossover SUV is big and heavy and feels as ungainly on the road as a roomier full-size truck based-model. Its only available engine, a 3.2-liter six-cylinder generates just a pokey 240 horsepower. It has much higher than average ownership costs and below average reli-ability.

Volvo XC90

Suzuki Grand Vitara

Suzuki Kizashi

Transmission problems would usually bring to mind replacing or rebuilding your transmission. But it does not necessarily have to be so. There are a few common

transmission problems that you can fi x on your own, at a fraction of the cost most auto shops would charge you.

The easiest way to avoid any transmission problems is to have preventive maintenance in place. This means you need to avoid any eventualities that might lead to leakages, slip-ping, and overheating.

Transmission Fluid LeakA transmission leak problem usually means that there

is a seal problem. At the fi rst signs of a fl uid leak or if the coolant is low, you have to check the driveshaft, transmis-sion and input gasket seals. If there is a leak, you can easily repair this by purchasing a bottle of Stop Leak and pour it in using the transmission fl uid dipstick. Add enough Stop Leak to replace the lost fl uid. If there is a substantial amount of leakage going on, you can also opt to input a full bottle to stop the fl uid leakage. This type of problem should really be remedied the soonest as possible, as it can cause your trans-mission to slip and possibly overheat.

Transmission Slipping The causes of transmission slipping can either be a fl uid

leak or a faulty solenoid. Some signs of a transmission slip-ping would be gears slipping or shifting very slowly. If it is the fl uid leak causing the transmission slipping, then it can be easily fi xed by Stop Leak. But if it is something wrong with the solenoid, you would need to open it and check for debris or any obstruction. If the problem persists with the solenoid, check your warranty and have it replaced by your dealer. Remember that transmission parts have a longer war-ranty than other parts of the car.

Transmission OverheatingWhen your transmission overheats, this is usually caused

by your vehicle pulling a very heavy load. This could occur if your transmission fl uid is old and dirty or if you have clogged cooler lines. To fi x this would be to replace your drain and your transmission fl uid, as well as clean the transmission fi lter. Remember that when you clean the transmission fi lter, you might need to open the transmission system. So, before attempting this, make sure you already have your manual at hand and that you are comfortable following the instructions.

Transmission MaintenanceYou should be checking your transmission every six

months or every 6,000 miles for any problems. Transmis-sion fl uids should also be replaced when it starts to become a brownish colour rather than the original red colour. If you expect to haul heavy loads, you should also consider getting auxiliary oil cooler to help your transmission system main-tain operating temperatures. This is because the heavier the load your car will pull or carry, the faster the oil cooler needs to cool the transmission fl uid, and at times it cannot keep up.

A few tips to keep in mind to better care for your trans-mission system is to never shift into ‘Park’ or ‘Reverse’ until the car has completely stopped. And you should never shift out of ‘Park’ without pressing on the brake pedal.

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A20 36 Business CourageCourage

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Sanusi’s obvioustruths

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To some, the Governor of the Bank of Nigeria, Mallam Lamido Sanusi is a mere rabble-rouser

who loves to hear his own voice. Not given to shying away from speaking his mind on national issues including those some will say should not be his immediate concern, Sanusi has in a few short years at the helm of the apex bank become a rather controversial fi gure many love to hate.

Yet, love him or hate him, the Kano prince’s frank comments about the goings on in the polity and actions taken to address issues in the fi nancial system, his primary constituency, are uncharacteristic of the pretentious power elite that would rather stay behind their high walls content with the knowledge of millions of dollars salted away abroad while the country goes to the dogs.

Of course, Sanusi cannot always be right, but I am tempted to align with him on two recent issues he raised for which some have called for his head.

One, is his conclusions about the civil service, which he said needs to be trimmed by half as part of measures to cut government overheads and channel more resources to investments. The CBN governor might have sounded extreme in advocating such as drastic action given the emotional and vitriolic attacks he has received since then.

Some have argued that it is the political class with their retinue of advisers, assistants and other aides that are responsible for government’s bloated overheads.

However, the issue remains that the biggest drag on the economy has been government’s inability to create the conditions for wealth creation since it spends 70 per cent to 75 per cent of total resources just on running itself.

Sanusi’s comments also raises the question of what exactly has been the contributions of the civil service to nation building over the years. Can we say that the civil servants have earned their keep given the fact that their salaries are usually on top of the priority list of government spending at all the three tiers?

Some decades ago civil servants were seen as the custodians of whatever was right and proper. Moulded in the fashion of the British bureaucracy, the public servants of yore were sticklers for rules, diligent, dignifi ed in carriage and conduct. They were men and women of character.

What we have today is a bunch of mercenaries waiting at every turn to make a quick buck. Rather than oil the wheels of government, they deliberately jam the wheel to make sure something drops on their laps. Indeed, the public service is now seen as the easiest way to “make it” in Nigeria.

I don’t need any empirical data to establish that public servants are the wealthiest group of Nigerians that are not company directors. They come to

the offi ce dressed in drab suits and worn ties yet, even level 10 offi cers own substantial properties in Abuja and state capitals, their children school abroad, which is why the education system remains in a mess. They get a cut of every contract that government awards if they are not the contractors themselves. For anything that must get done in any ministry, a fee must be paid and God save that minster or any newcomer that comes in trying to “change” the system, he is simply isolated or set up for a disgraceful exit. While I will concede that there are exceptions, these may be those that are not yet in a position to “pension” themselves as the case is. The public service is Nigeria’s biggest problem and we have no clue about how to address this.

The other issue has to do with the federal character principle, which Sanusi says promotes a culture of mediocrity in government. Of course, a silly arrangement that says ministers must be appointed from every state does stand logic on its head as it means that anybody who is a friend of a state governor can be nominated and appointed minister, which is the routine nowadays.

Sanusi captured the effect so succinctly when he said that since 1999 “we have had more than 200 ministers and how many of them can we really remember because they are so many and their jobs are so poorly defi ned and no one can remember them for anything they did.”

As Sanusi pointed out, the federal character clause designed to “balance the equation” to ensure that state with smaller pools of talent get represented at the centre regardless of whether their candidates have the competence and experience to do the jobs to be handed out.

The result of such folly is what we see in the inability to see any real innovations or forward thinking in most government ministries. Many ministers are just there to attend FEC meetings, junket from one conference to the other, make as much money as they can and wait for the day they get the boot.

The federal character principle is applied in all areas from admission into schools, recruitment into the civil service, the armed forces and Police and even in land allocation. It is anti-competition and it is not the way to continue.

Sanusi’s warning is that Nigeria is going nowhere if we retain a system that is not working. Countries that stand out in the committee of nations achieved this by deploying their best brains in all spheres of human endeavour. In this present government, one can point to only two or three ministers that may be in a position to show that they did anything while in offi ce.

We should look at the message, not the messenger.

Pharma-Deko Plc has recorded a 1430 per cent growth in its profi t after tax for the unaudited third

quarter of the current fi nancial year ending December 31, 2012. The com-pany also recorded a 1368 per cent rise in its profi t before tax for the same pe-riod. The company achieved net profi t of N729 million in third quarters 2012 against N47.6 million. Similarly, profi t before tax moved to N699.5 million. The increase recorded in both profi t before tax and profi t after tax could be attrib-uted to extraordinary items worth N671 million in favour of the pharmaceutical company. According to data released by the Nigerian Stock Exchange, the com-pany said its shareholders’ funds had also increased, bringing the continuous decline, the fund recorded in the past years to a close.

Chairman of the company, Folarin Williams (Junior) said the erosion of the shareholders fund, which started fi ve years ago was halted and a positive fi g-ure was recorded. Thus, shareholders’ funds closed at N931.5 million in third quarter 2012 from a negative fi gure of N719 million in third quarter 2011.

However, the company recorded N734.2 million as turnover in nine months ended September 2012, a 22 per cent decline from N945.2 million posted in the previous period. Gross profi ts as well dropped by 16 per cent to close at

Pharma-Deko posts N729m profit By Tayo Adeleke

N348.5 million. The company is cur-rently facing liquidity challenges hav-ing posted a negative working capital of N351 million. Meanwhile, Williams has reiterated the need for capital injection to enhance company profi tability in fu-ture. “The above achievement in turn-over would have been doubled or more if the challenges of inadequate working capital and high fi nancial exposure be-ing experienced by the company had been resolved” he noted. Pharma-Deko is a Pharmaceutical Consumer Manu-facturing company; with over 50 years history in the manufacturing and mar-keting of Pharmaceutical and healthcare Consumer products.

Thomas Wyatt Plc has recorded a turnover of N56.8 million in its second quarter ended 30 Sep-

tember 2012. This was contained in its result sent to the Nigerian Stock Exchange last Friday. The company’s turnover decreased slightly from N60.9 million in the second quarter of 2012 compared to N56.8 million in the review period of year 2012, translating to 6.7 per cent drop. However, effort of the management to reduce cost in the re-

Thomas Wyatt posts profit amid drop earnings

view period helps the company to end the period in positive earnings. Its profi t before tax increased from N10.8 million debit in the second quarter of year 2011 to N4.2 million in the corresponding period of 2012, indicating a growth of 138 per cent. In the same way, the com-pany posted a growth of 136.4 per cent in profi t after tax in its half year result ended September, 2012.

It recorded an increase from –N11.4 million in the review period compared

to N4.15million in the same period of year 2011. The company’s bal-ance sheet recorded a modest im-provement as total assets moved to N766.9 million in 2012 from N672.5 million in 2011. Working capital stood at N49.72 million while due to related company closed at N26.8 million. Total liabilities inched up to N243 million from N219.3 million in 2011. Trade debtors closed at N32.5 million while trade creditors stood at N37.8 million. Net assets (Share-holders funds) dipped to N122.6 mil-lion from N127.63 million in 2011. Meanwhile, Thomas Wyatt cash fl ow closed in a negative in the review period. It ended at a loss of N16.4 million, an improvement from N42.4 million in fi rst quarter.

Williams

Ike Emeagwali, Chairman

Stock Updates

GAINERS

COMPANY OPENING PRICE CLOSING PRICE CHANGE

AIICO 0.61 0.66 8.20

UAC-PROP 10.05 10.60 5.47

STERLNBNK 1.49 1.57 5.37

NNFM 17.51 18.38 4.97

OANDO 11.53 12.10 4.94

LOSERS

COMPANY OPENING PRICE CLOSING PRICE CHANGE

UTC 0.61 0.58 -4.92

MCNICHOLS 0.89 0.85 -4.49

NEIMETH 0.92 0.88 -4.35

LIVESTOCK 1.42 1.36 -4.23

HONYFLOUR 2.10 2.05 -2.38

Inter-Bank Rates

TENOR RATE%(PREV) 29-Nov-2012 RATE%(CURR) 06-Dec-2012

CALL 13.0000 – 14.0000 10.2500 – 12.2500

OBB 11.1000 – 14.0000 10.2500 – 11.2500

Primary Market Auction

TENOR AMOUNT (N’mn) RATE (%) DATE

364-Days 40536.7 12.50 21-Nov-12

91-Days 30647.81 12.40 21-Nov-12

182-Days 45000 12.45 21-Nov-12

Open Market Operation

TENOR AMOUNT (N’mn) RATE (%) DATE

113-Days 100,000 13.60 28-Nov-12

84-Days 80,000 13.50 22-Nov-12

98-Days 70,000 13.56 22-Nov-12

Wholesale Dutch Auction System AMOUNT OFFERED MARKET DEMAND AMOUNT SOLD DATE

$80m $80m $80m 05-Dec-12

$180m $164m $164m 03-Dec-12

Market Indicators for Week Ended 17-17-12All-Share Index 26,671.72 pointsMarket Capitalisation N8,522,241,184,555.37

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A21 37Business CourageCourage

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FirstRand Ltd. (FSR), South Africa’s second-largest bank, needs to

buy a retail and commercial lender in Nigeria to support its investment bank and win ac-cess to consumer deposits for corporate funding, said Alan Pullinger, the unit’s chief exec-utive offi cer.

“In Nigeria, you want a fund-ing bank,” Pullinger, who heads FirstRand’s Rand Merchant Bank, said in an interview in Johannesburg at the weekend. The investment bank, which won fi nal approval for Nigerian license last month, “has legs for a while and we can carry

NSE index up by 0.67per cent, as Aiico, UAC Properties, Sterling Bank top gainers

it through the short term, but long term we want to get into retail and commercial bank-ing,” he said.

FirstRand said on Aug. 22 that it agreed to buy a 75 per cent stake in Merchant Bank Ghana Ltd. for 746.2 million rand ($86 million) to strength-en its position in Africa after earlier this year ending talks to purchase Lagos-based Ster-ling Bank Plc. The investment-banking unit has 12 people in its Nigerian offi ce and plans to expand its workforce in Africa’s largest oil producer to about 20, Pullinger said. To continue lending to companies, it needs

Activities on the fl oor of the Nigerian Stock Ex-change (NSE) closed Fri-

day on a positive note. A review of the equity price movements indicated that thirty fi ve (35) equities gained while thirty-one (31) equities recorded price de-clines and prices of one hun-dred and thirty-two (132) equi-ties remained constant. When compared with the preceding week, thirty (30) equities gained while thirty- four (34) equities recorded price declines and prices of one hundred and thir-ty-four (134) equities remained constant. Aiico led the gain-ers’ table with a gain of N0.05 kobo to close at N0.66 kobo per share, UAC Properties gained N0.55 kobo to close at N10.60 kobo per share, Sterling Bank N0.08 kobo to close at N1.57 kobo per share. UTC led the losers’ chart by shedding N0.03 kobo to close at N0.58 kobo per share, followed by MCNICHOLS that shed N0.04 kobo per share to close at N0.85 kobo per share and NEIMETH shed N0.04 kobo to close at N0.88 kobo per share.

A turnover of 1.144 billion shares worth N11.239 billion in 18,947 deals was recorded last

week in contrast to a total of 1.216 billion shares valued at N8.886 billion that exchanged hands previous week in 18,902 deals. The Financial Services sector (measured by turnover volume) accounted for 872.712 million shares valued at N6.803 billion traded in 11,398 deals. The Consumer Goods sector followed with 75.609 million shares valued at N3.117 bil-lion traded in 3,812 deals. The Banking subsector of the Fi-nancial Services sector was the most active during the week (measured by turnover volume);

with 645.733 million shares worth N5.555 billion exchanged hands by investors in 8,257 deals. Volume in the Banking subsector was largely driven by activities in the shares of Zenith Bank Plc and Access Bank Plc. Trading in the shares of the two banks accounted for 196.229 million shares, representing 30.39 per cent, 22.49 per cent, and 17.15 per cent of the turn-over recorded by the subsector, sector and total turnover for the week, respectively.

Also traded last week were 611 units of NewGold Exchange Traded Funds (ETFs) valued at N1.591 million exchanged hands in 5 deals in contrast to a total of 550 units valued at N1.462 million transacted last week in 5 deals. Also, 4,650 units of FGN Bonds valued at N5.008 million were traded during the week in 12 deals. However, there were no trans-actions in the State/Local Gov-ernment Bonds and Corporate Bonds/Debentures sectors. The NSE All-Share Index appreci-ated by 0.67 per cent to close at 26,671.72. Also, Market Capi-talization of the listed equities increased by 0.67 per cent to close at N8.522 trillion.

to have access to deposits, he said.

“We are exploring various options in Nigeria, including the assets which form part of the Asset Management Corp. of Nigeria,” said Sam Moss, a director of FirstRand, com-menting on an agency set up to buy bad debt from the nation’s banks. In Ghana, the central bank still needs to give its ap-proval for the Merchant Bank deal, she said.

FirstRand, which is the best-performing stock among South Africa’s four largest banks this year, dropped 1.6 per cent at 1:41 p.m. in Johannesburg.

Interbank rates inched up to an average 11.91 per cent last week from 11.33 per

cent the previous week after the central bank sold large amounts of treasury bills to some lenders in a move to reduce liquidity in the system, traders said.

The central bank sold about N63 billion ($400 million) in Open Market Operations (OMO) to help dampen infl ation by soaking up cash, traders said. The central bank had sold about N127.17 billion in treasury bills at the primary market on

FirstRand eyes Nigerian acquisition to fund RMB lending

Wednesday, which left the mar-ket cash balance at about N190 billion on Friday compared with market open cash balance of N242 billion last Friday.

The secured Open Buy Back (OBB) rose to 11.75 per cent last week from 11 per cent the previ-ous week, 25 basis points below the central bank’s 12 per cent benchmark rate and 1.75 per-centage points above the Stand-ing Deposit Facility (SDF) rate.

Overnight placement and call money both closed at 12 per cent apiece compared with

11.5 per cent, respectively last week.

Dealers said a possible budget fl ows this week could depress rates marginally, but expected central bank to take out excess funds from the mar-ket to keep the rates within its benchmark interest rate.

“We see cost of borrowing easing marginally next week on likely infl ows of budget cash and some treasury bills maturi-ties repayment, helping to in-crease liquidity in the market,” one dealer said.

Interbank rate rises on large treasury bill sales

BC

Yemi Adeola, MD Sterling Bank

National Mirror www.nationalmirroronline.netMonday, December 10, 2012 A22 38 Business CourageCourage

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NCR Nigeria Plc’s plan to achieve an improved performance at the end

of the current fi nancial year may have suffered a setback particularly with its half year 2012 performance. The setback could be attributed to the company’s huge cost of sale, which at half year, has already surpassed income by 10 per cent. Cost of sales stood at N2.6 billion against turnover of N2.35 billion, leading to a net loss of N378 million. Also, both top line and bottom line indices nosedived signifi cantly from previous period.

The company’s principal activities continue to be the sales and services of information technology solutions like the Automated Teller Machines (ATM), through which NCR helps its customers transform transactions into relationships and use information more effectively and dynamically to make smarter business decisions faster. The company was listed on the Nigerian Stock Exchange on May 30, 1979.

Financial HealthThe company, despite

recording a 40 per cent growth in its turnover, recorded signifi cant decline in its operating profi t, profi t before tax and profi t after tax for its 2011 fi nancial year. It recorded a turnover of N2.855 billion, rising from N2.042 billion recorded in its 2010 fi nancial year. Chairman of the company, Adekunle Ojora attributed the increase in its turnover to the cashless economy policy of the Central Bank of Nigeria (CBN), as well as the reversal of the offsite ATM directive. He said that this year alone (as at Q2 2012), the company had sold over 1,200 ATMs to various companies, adding that over 500 were sold the preceding year. According to him, all these will translate into higher profi ts for the company in the ongoing fi nancial year as it would be refl ected in the balance sheet. Its operating profi t, however, dipped by 67 per cent to N369.275 million, from N1.104 billion in 2010; profi t before tax stood at N369.681 million, dropping by 65 per cent from N1.061 billion recorded in 2010, while profi t after tax dipped by 73 per cent from N721.586 million recorded in 2010 to N196.646 million in the year under review. Despite the decline in its profi t, the company declared a dividend of N345 million, representing a dividend per share of N3 for its shareholders.

Profi tability RatioProfi tability indices of the

company are declining gradually. Return on Equity (ROE) dropped

to 19.07 per cent from 62.24 per cent in 2010, while gross profi t margin decreased by 35.02 basis points from 56.83 per cent in 2010 to 21.81 per cent in 2011. The company was unable to take in more for stakeholders as both pre-tax profi t margin and profi t margin reduced signifi cantly in the review fi nancial year ended December 2011. Pre-tax profi t margin moved to 12.96 per cent from 51.98 per cent in 2010 while profi t after tax margin stood at 6.90 per cent in 2011 down from 35.37 per cent in the preceding year.

LiquidityLiquidity position of NCR

Nigeria Plc recorded mixed performance if compared with the fi gure posted in the previous year. NCR fi nancials performance gave a brief summary of the inability of management to meet its fi nancial obligation to debtors as at when they fall due. The current ratio, which measures ability to pay short term debts from its operating cash fl ows, declined from 2.55:1 in 2010 to 1.47:1 as at fi nancial year ended December 2011 (falls below the accepted benchmark of 2.0:1). In the same way, quick ratio dipped from 2.25:1 in 2010 to 1.22:1 in 2011, lower to benchmark of 1.5:1. This is a declining performance compared to the previous year’s fi gure. Meanwhile, trade debt stood at N988 million from N443 million in 2010 while trade credit closed at N66 million compared to N34 million in the preceding year. Current liabilities moved from N872 million in 2010 to N2.12

billion. However, following the

management decision not to borrow fund to run its operation in 2011, the company heaved a sigh of relief as its working capital indices improved signifi cantly to N980 million. Interest expenses also reduced signifi cantly to N4 million from N55 million in 2010.

Capital AdequacyDuring the year under review,

the company’s shareholders’ funds dropped to N1.03 billion from N1.16 billion, representing a decline of 10.95 per cent. As at 31 December 2011, the fi xed assets had 23.5 per cent increase to close at N63 million from N51

million while inventories grew by 98.5 per cent to stand at N514 million from N259 million in 2010. Cash and Bank balances also had signifi cant growth of 123 per cent in the review period. It moved from N443 million to N796 million. Current assets increased by N893 million to close at N3.11 billion in 2011 while total assets grew to N3.18 billion from N2.27 billion.

Half year performance

In the last six months of ongoing fi nancial year, NCR Nigeria Plc has not done well in all measuring indices. Both top line and bottom line indices nosedived signifi cantly from previous period. The company recorded a net loss of N377.99 million for the period ended June 30, 2012, a worse fi gure when compared with N509.9 million profi ts achieved in the corresponding period of 2011. According to the data from the Nigerian Stock Exchange, the company’s gross earnings rose by 144.8 per cent, from N961.3 million recorded in 2011 to N2.35 billion in 2012. This

NCR Nigeria: Battling with huge operating costBy Tayo Adeleke

could not translate into profi t for the company as a result of huge cost of sales for the period. The cost of sales stood at N2.59 billion, 10 per cent more than the company’s turnover for the period. Gross loss stood at N216.6 million compared with N641 million gross profi ts in 2011.

However, inventories moved from N513.64 million in 2011 to N777.8 million in 2012, fi xed assets increased from N63.2 million in 2011 to N74.88 million. Details of the half year balance sheet show that total assets grew from N3.18 billion to N4.07 billion in 2012 while total liabilities stood at N3.74 billion, up from N2.14 billion in 2011. Meanwhile, working capital dropped from N980.1 million as at December 2011 to N256.73 million as at half year 2012.

FutureThe company may

eventually end the current year in a loss if the management fails to rescue the company fi nance from the growing huge cost that continues to impair its turnover. Based on the company’s half year performance ended June 2012, the management needs to work harder to return the company to profi tability at the end of fi nancial year.

However, NCR management has expressed optimism of a signifi cant improvement in its fi nancial performance in the years ahead. Speaking on the company’s future plans, Ojora noted that the company was able to secure signifi cant orders for upgrading projects in cheque clearing and National Electronic Funds Transfer to assist with internal image clearing and decision making. “In addition, we have introduced two new products; the ATM Passport (Cheque Image Capture solution) and the Branch Passport (Cheque Capture solution for Bank branches) and the roll out of these would be completed before end of the year 2012,” Ojora said.

Ojora

NCR Financial Data 2011 2010 =N=(‘Nm) =N=(‘Nm)Gross Earnings 2,856 2,041

Cost of sales 2,232 881

Gross Profi t 623 1,160

Profi t Before Taxation 370 1,061

Profi t After Taxation 197 722

Retained Profi t

Admin Expenses 284 225

Distribution Expenses

Taxation 173 340

Shareholders fund 1,033 1,160

Interest Expenses 4 55

Current Asset 3,113 2,220

Current Liabilities 2,123 872

Fixed Assets 63 51

Current Assets-stocks 2,599 1,961

Trade Debtors 988 443

Trade Creditors 66 34

Profi tability Ratios

Return on Equity (%) 19.07 62.24

Gross profi t Margin (%) 21.81 56.83

Profi t Margin (%) 6.9 35.37

Pretax Profi t Margin (%) 12.96 51.98

Liquidity Ratios

Current Ratio 1.47 2.55

Quick Ratio 1.22 2.25

Debtors(No of days) 126.27 79.22

Creditors(No of days) 10.84 14.17

Working Capital 980 1109

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 A23 39

STOCKWATCH

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NT NT 0.50 0.50 28 000 000 000 0.02 N/A NTLASACO ASSURANCE PLC. NT NT 0.50 0.50 7 323 313 227 0.00 N/A 0.50LAW UNION AND ROCK INS. PLC. NT NT 0.61 0.50 3 437 330 500 0.00 N/A NTLINKAGE ASSURANCE PLC 0.50 63 000 0.50 0.50 4 083 713 569 0.03 0.00 0.50MANSARD INSURANCE PLC 1.83 37 500 1.93 0.95 10 000 000 000 0.16 -3.17 1.89MUTUAL BENEFITS ASSURANCE PLC. NT NT 0.50 0.50 7 998 705 336 0.01 N/A 0.50N.E.M INSURANCE CO (NIG) PLC. 0.54 3 150 904 0.66 0.50 5 332 830 881 0.37 8.00 0.50NIGER INSURANCE CO. PLC. 0.50 24 000 1.11 0.50 5 649 693 923 0.02 N/A NTOASIS INSURANCE PLC NT NT 0.50 0.50 5 003 506 791 0.04 N/A 0.50PRESTIGE ASSURANCE CO. PLC. 0.51 32 729 2.35 0.50 2 508 315 436 0.06 0.00 0.51REGENCY ALLIANCE INS. COY PLC NT NT 0.50 0.50 6 668 750 000 0.04 N/A NTSOVEREIGN TRUST INSURANCE PLC 0.50 30 000 0.52 0.50 5 203 757 266 0.09 0.00 NTSTACO INSURANCE PLC 0.50 55 000 0.50 0.50 6 141 087 609 0.00 N/A 0.50STANDARD ALLIANCE INS. PLC. 0.50 12 220 500 0.50 0.50 8 493 173 450 0.00 N/A 0.50UNIC INSURANCE PLC. 0.50 50 000 0.50 0.50 2 581 733 505 0.00 N/A 0.50UNITY KAPITAL ASSURANCE PLC NT NT 0.50 0.50 13 000 000 000 0.02 N/A NTUNIVERSAL INS. COMPANY PLC NT NT 0.50 0.50 16 000 000 000 0.00 N/A NTMicro Finance Banks FORTIS MICROFINANCE BANK PLC 6.00 5 000 6.00 0.00 0.01 6.00NPF MICROFINANCE BANK PLC 1.15 13 690 000 1.15 1.00 0.07 1.15Mortgage Carriers, Brokers &Services ABBEY BUILDING SOCIETY PLC NT NT 1.51 1.33 4 200 000 000 0.03 N/A NTASO SAVINGS AND LOANS PLC 0.50 2 430 0.50 0.50 8 679 148 676 0.02 N/A 0.50RESORT SAVINGS & LOANS PLC NT NT 0.50 0.50 13 175 732 404 0.00 N/A NTUNION HOMES SAVINGS&LOANS PLC NT NT 0.99 0.50 7 812 500 000 0.00 N/A NTOther Financial Institutions CRUSADER ( NIG) PLC. 0.50 54 000 0.61 0.50 3 778 005 975 0.00 N/A 0.50DEAP CAPITAL MGT & TRUST PLC NT NT 2.02 2.02 1 333 333 333 0.00 N/A NTFBN HOLDINGS PLC 15.07 15 729 517 17.01 8.50 32 632 084 358 3.03 1.28 14.88NIG SEW. MACH. MAN. CO. PLC. NT NT 0.15 0.15 5 880 000 0.00 N/A NTNIGERIA ENERYGY SECTOR FUND NT NT 552.20 555.20 2 500 000 12.65 N/A NTROYAL EXCHANGE PLC. 0.50 620 956 0.66 0.50 3 608 657 661 0.00 N/A NTSTANBIC IBTC HOLDINGS PLC 10.70 238 389 11.38 6.40 18 750 000 000 0.87 -9.09 11.77HEALTHCARE Healthcare Providers EKOCORP PLC. NT NT 5.31 5.05 498 600 908 0.12 N/A NTMedical Equipment UNION DIAGNOSTIC &CLINICAL PLC 0.50 16 680 0.50 0.50 3 553 138 528 0.00 N/A 0.50Medical Supplies MORISON INDUSTRIES PLC. NT NT 10.54 7.39 152 178 750 0.06 N/A 4.25Pharmaceuticals EVANS MEDICAL PLC. 1.04 2 196 1.45 0.50 486 473 856 0.00 -13.33 1.20FIDSON HEALTHCARE PLC 1.04 1 020 682 3.20 0.76 1 500 000 000 0.44 1.96 1.02GLAXO SMITHKLINE CONSUMER PLC 45.50 111 996 39.00 19.30 956 701 192 2.62 0.00 45.50MAY & BAKER NIGERIA PLC. 1.52 219 608 5.61 1.62 980 000 000 0.20 4.11 1.46

NOTE NT=Not Traded on 07-12-12 N/A=Not Avialable

NEIMETH INT PHARM PLC 0.88 576 164 1.96 0.76 1 925 717 268 0.09 -4.35 0.92NIGERIA-GERMAN CHEMICALS PLC. NT NT 12.91 8.59 153 786 012 0.00 N/A 8.17PHARMA-DEKO PLC. NT NT 4.28 3.50 100 000 000 0.00 N/A NTICT Computer Based Systems COURTEVILLE BUSINESS SLN PLC 0.50 100 000 0.52 0.50 2 960 000 000 0.10 0.00 0.50Computers and Peripherals OMATEK VENTURES PLC NT NT 0.50 0.50 2 941 789 472 0.00 N/A NTElectronic Communications Services MTECH COMMUNICATIONS PLC NT NT 0.91 0.91 4 966 666 668 0.00 N/A NTIT Services NCR (NIGERIA) PLC. 14.40 8 967 18.28 13.12 108 000 000 0.00 N/A 14.40TRIPPLE GEE AND COMPANY PLC. NT NT 3.59 2.41 492 825 600 0.01 N/A NTProcessing Systems CHAMS PLC 0.50 355 930 0.50 0.50 4 620 600 000 0.00 N/A 0.50E-TRANZACT INTERNATIONAL PLC NT NT 4.97 4.04 4 200 000 000 0.04 N/A NTTelecommunications Carriers STARCOMMS PLC NT NT 1.47 0.50 6 878 478 096 0.00 N/A NTTelecommunications Services IHS NIGERIA PLC PREF SHARES NT NT 2.25 0.00 0.00 N/A NTIHS PLC NT NT 3.50 2.46 4 400 000 000 0.00 N/A NTMTI PLC NT NT 0.50 0.50 4 893 594 400 0.00 N/A NTINDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. NT NT 3.32 2.86 260 000 000 0.00 N/A NTASHAKA CEM PLC 18.00 1 272 718 30.00 9.10 2 239 453 125 2.14 -6.64 19.28BERGER PAINTS PLC 8.41 21 654 12.57 7.27 217 367 585 1.09 0.00 8.41CAP PLC 27.98 92 500 43.98 14.50 560 000 000 2.28 3.86 26.94CEMENT CO. OF NORTH.NIG. PLC 4.92 42 234 15.49 4.20 1 241 548 285 1.47 0.00 4.92DANGOTE CEMENT PLC 121.00 314 044 132.51 95.00 15 494 019 668 8.33 -0.41 121.50DN MEYER PLC. 2.80 200 3.51 0.93 242 908 200 0.00 N/A NTFIRST ALUMINIUM NIGERIA PLC NT NT 0.75 0.50 2 109 928 275 0.00 N/A NTIPWA PLC 0.50 30 000 0.99 0.91 513 696 000 0.00 N/A 0.50LAFARGE WAPCO PLC. 58.00 1 709 882 56.50 37.00 3 001 600 004 4.10 -1.68 58.99PAINTS & COATINGS MANFACT.PLC NT NT 3.36 0.52 792 914 256 0.26 N/A NTPORTLAND PAINTS & PRDT NIG. PLC 4.18 5 000 5.28 2.27 400 000 000 0.23 N/A 4.18PREMIER PAINTS PLC. NT NT 13.40 10.93 75 000 000 0.00 N/A NTElectronic and Electrical Products AUSTIN LAZ & COMPANY PLC NT NT 2.00 2.00 0.03 N/A NTCUTIX PLC. 1.52 4 000 2.50 1.33 510 396 608 0.11 0.00 1.52NIGERIAN WIRE AND CABLE PLC. NT NT 0.73 0.50 2 220 000 000 0.00 N/A NTNIGERIAN WIRE IND. PLC NT NT 2.58 2.58 15 000 000 0.00 N/A NTPackaging/Containers ABPLAST PRODUCTS PLC. NT NT 3.98 3.98 25 000 000 0.00 N/A NTAVON CROWNCAPS & CONTAINERS NT NT 6.91 2.19 683 974 528 0.05 N/A 1.99BETA GLASS CO PLC. NT NT 12.71 9.53 0.05 NTGREIF NIGERIA PLC NT NT 15.03 13.28 42 640 000 0.90 N/A NTNIG. BAGS MANFACT. COY PLC 2.35 911 407 3.60 1.60 6 215 000 000 0.24 1.73 2.31POLY PRODUCTS (NIG) PLC. NT NT 1.86 1.05 240 000 000 0.22 N/A NTW A GLASS IND. PLC. NT NT 0.63 0.63 199 066 550 0.00 N/A NTTools and Machinery NIGERIAN ROPES PLC NT NT 8.69 8.26 265 409 280 0.00 N/A NTSTOKVIS NIG PLC. NT NT 0.14 0.14 2 918 000 0.00 N/A NTNATURAL RESOURCES Chemicals B.O.C. GASES PLC. NT NT 9.20 5.70 393 120 000 0.76 #VALUE! 5.97Metals ALUMACO PLC NT NT 7.75 7.75 75 600 000 0.00 N/A NTALUMINIUM EXTRUSION IND. PLC. NT NT 12.39 10.55 100 000 000 0.43 N/A NTNon-Metallic Mineral Mining MULTIVERSE PLC 0.50 28 640 0.50 0.50 4 058 989 226 0.00 N/A 0.50Paper/Forest Products HALLMARK PAPER PRODUCTS PLC. NT NT 3.22 3.22 50 000 000 0.04 N/A NTTHOMAS WYATT NIG. PLC. NT NT 1.38 1.38 220 000 000 0.00 N/A NTOIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SER. PLC 0.59 1 983 223 1.02 0.54 6 262 701 716 0.13 7.27 0.55Integrated Oil and Gas Services OANDO PLC 12.10 1 934 739 24.80 10.94 2 262 711 568 1.73 2.11 11.85Petroleum &Petroleum Products Distributors AFROIL PLC NT NT 20.71 20.71 125 487 475 0.00 N/A NTBECO PETROLEUM PRODUCT PLC 0.50 500 0.70 0.50 3 716 976 579 0.00 N/A 0.50CONOIL PLC 19.62 19 497 41.89 19.61 693 952 117 0.47 4.98 18.69ETERNA PLC. 1.58 12 952 440 5.59 2.12 1 249 162 828 0.61 19.70 1.32FORTE OIL PLC. 7.98 108 814 28.69 9.12 1 080 280 628 0.00 -9.73 8.84MOBIL OIL NIG PLC. 109.25 6 943 163.50 111.51 300 496 051 6.11 -5.00 115.00MRS OIL NIGERIA PLC. 25.01 11 200 72.00 32.29 253 988 672 3.62 N/A 26.32TOTAL NIGERIA PLC. 121.68 45 392 240.00 125.00 339 521 837 14.63 -2.41 124.68SERVICES Advertising AFROMEDIA PLC NT NT 0.72 0.50 4 035 497 307 0.00 N/A NTApparel Retailers LENNARDS (NIG) PLC. NT NT 3.48 3.48 0.19 N/A NTAutomobile/Auto Part Retailers R T BRISCOE PLC. 1.31 134 125 3.65 1.12 980 294 400 0.21 -7.09 1.41Courier/Freight/Delivery RED STAR EXPRESS PLC 2.84 192 569 3.67 2.11 589 496 310 0.58 -6.27 3.03TRANS-NATIONWIDE EXPRESS PLC. NT NT 6.40 3.28 198 819 763 0.25 N/A NTEmployment Solutions C & I LEASING PLC. 0.50 10 000 1.64 0.85 865 808 912 0.08 N/A 0.50Hospitality TANTALIZERS PLC NT NT 0.75 0.50 3 211 627 907 0.01 N/A NTHotels/Lodging CAPITAL HOTEL PLC NT NT 8.00 3.00 1 548 780 000 0.18 N/A NTIKEJA HOTEL PLC 0.91 153 500 2.59 1.16 2 078 796 396 0.92 -7.14 0.98TOURIST COMPANY OF NIGERIA PLC. NT NT 4.76 4.31 1 772 884 297 0.00 N/A NTTRANSNATIONAL CORP. OF NIG.PLC 0.95 2 112 793 1.82 0.50 25 813 998 283 0.22 -2.06 0.97Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 5 050 000 0.50 0.50 8 000 000 000 0.00 N/A 0.50Printing/Publishing ACADEMY PRESS PLC. 1.79 34 147 3.68 1.64 403 200 000 0.14 N/A 1.79LEARN AFRICA PLC NT NT 8.00 1.94 771 450 000 0.29 N/A 1.81STUDIO PRESS (NIG) PLC. NT NT 2.92 2.78 0.01 N/A 2.65UNIVERSITY PRESS PLC. 4.40 50 200 6.82 3.09 425 641 111 0.50 -3.30 4.55Road Transportation ABC TRANSPORT PLCPLC 0.50 8 300 0.80 0.50 1 507 000 000 0.00 N/A NTSpecialty INTERLINKED TECHNOLOGIES PLC NT NT 5.15 4.90 236 699 511 0.00 N/A NTSECURE ELECTRONIC TECH.PLC NT NT 1.88 0.80 5 631 539 736 0.03 N/A NTTransport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 2.71 5 200 2.78 1.54 634 000 000 0.38 N/A 2.60NIG. AVIATION HANDLING COY PLC 5.48 1 227 941 11.75 5.15 1 230 468 750 0.81 -5.19 5.78ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC NT NT 1.43 1.04 45 000 000 0.12 N/A NTCONSUMER GOODS Food Products MCNICHOLS PLC 0.85 60 000 1.02 1.02 201 885 335 0.00 N/A 0.97Personal/Household Products ROKANA INDUSTRIES PLC. 0.60 500 0.60 0.60 30 000 000 0.00 N/A 0.60HEALTHCARE Pharmaceuticals AFRIK PHARMACEUTICALS PLC. NT NT 0.50 0.50 24 898 850 0.00 N/A NTINDUSTRIAL GOODS Electronic and Electrical Products NT NT NTADSWITCH PLC. 1.63 500 1.88 1.63 125 005 250 0.00 N/A 1.63NATURAL RESOURCES Metals W.A. ALUM. PRODUCTS PLC. NT NT 0.50 0.50 6 650 000 0.00 N/A NTOIL AND GAS Petroleum & Petroleum Products Distributors ANINO INTERNATIONAL PLC. NT NT 0.21 0.21 24 200 000 0.00 N/A NTCAPITAL OIL PLC 0.50 20 000 0.50 0.50 5 857 500 000 0.00 N/A 0.50RAK UNITY PET. COMP. PLC. NT NT 0.31 0.31 15 000 000 0.00 N/A NTUNION VENTURES & PET. PLC NT NT 0.63 0.63 98 600 000 0.00 N/A NTSERVICES Apparel Retailers UDEOFSON GARMENT FACT. NIG PLC NT NT 0.50 0.50 20 000 000 0.00 N/A NTFood/Drug Retailers and Wholesalers NT NT NTJULI PLC. 2.76 16 000 3.05 2.76 194 700 000 0.00 N/A 2.76ETF’s Sector ETF NEWGOLD EXCHANGE TRADED FUND 2 638.00 100 2 706 2 422 0.00 2 638.00

PRICE 52 WK 52 WK SHARES MOV.SECURITY (=N=) QUANTITY HIGH LOW OUTSTANDING EPS (%) Previous

PRICE 52 WK 52 WK SHARES MOV.SECURITY (=N=) QUANTITY HIGH LOW OUTSTANDING EPS (%) Previous

Stock Exchange weekly equities summary as at Friday, Dec 07, 2012

Business CourageCourage

National Mirror www.nationalmirroronline.net40 Monday, December 10, 2012

Writing a Will is one of the de-cisions most prominent Nige-rians are reluctant to make.

This is because the mention of Will evokes fear in some people. To others, it connotes an impending death. No one likes to think about his own death. In fact, one shudders to think about dying.

According to familywillscenter.com, ‘’If one thinks rationally, one must make a Will. A person must be worried as to what happens to his business and property after he passes away.’’

The simplest and easiest way to ensure that one’s business, property and all other assets are distributed in accordance to one’s wishes after his death is to write a Will. It is a legal document that binds the person’s heirs to accept his wishes and there is no quarrel over the distribution.

By the provisions of the Wills Act 1837, a Will is a person’s declaration of his intention of how his property is to be dealt with after his death. Apart from this Act, the Will laws enacted by the various states in the federation also govern the disposition of property.

In legal parlance, the maker of the Will is called the testator. He must have sound and disposing mind at the time of making the Will such that

he understands what he was doing. By writing the Will, he is able, by the expression of his free will in the testamentary document, to benefit those he love or owe a duty of care. Thus, a document is not a Will unless it speaks from death.

The document is so important in that it tells lawyers and others how a person wants his property distributed after his demise.

Interestingly, this speeds up the probate time because the courts don’t have to guess how the deceased person wants his property divided among his beneficiaries.

Perhaps, it may be argued that a Will displaces the application of rules of inheritance under native Law and Custom and the deceased equally has the opportunity to give his funeral directives. The Will also enables the deceased to make his wishes known to his heirs and beneficiaries; and let those who would benefit know too.

Besides, it has been said that it confers protection on the children of the deceased and equally prevents one’s property from possibly reverting back to the government.

Despite the desirability of making a Will, most of the Wills of prominent

Nigerians read after their deaths have often generated controversies. Indeed, the main issue often canvassed in court by the disputing parties is the validity of the last Will and testament of the testator.

Of note are the attendant crises and court litigation that trailed the 1947 Will of the first Republic Finance Minister, Chief Festus Okotie-Eboh, who died in 1966. The major actors in the case were the late Okotie-Eboh’s eldest daughter, Mrs. Alero Jadesimi, the late politician’s widow, Mrs. Victoria Okotie-Eboh, another daughter, Mrs. C.R Akele and their half-brother, Mr. John Okotie-Eboh.

By its judgement on February 6,1996, the Supreme Court had pronounced that late Okotie-Eboh’s Will dated 21st day of August 1947 was valid.

Law & Justice“Courts will not allow fi shing interrogatories. An owner of an

aquarium may, but certainly not the court.”

National Mirrorwww.nationalmirroronline.net 41Monday, December 10, 2012

nationalmirrorlaw@yahoo.com

42

45

46 CONTINUED ON PAGE 44

Succession crisis hits Appeal Court... as Bulkachuwa steps in acting capacity

Only few judges are vast in Maritime Law–Igbokwe

Indian court seeks explanation for Facebook arrests

In spite of Wills by some notable deceased personalities, disputes and rumblings still rage among their children and heirs in the country. FRANCIS FAMOROTI, Ag. Head, Judiciary, highlights the attendant controversies that have been trailing the reading of Wills of the certain prominent citizens.

JUSTICE NIKI TOBI, RETIRED JUSTICE OF SUPREME COURT

How controversies trail Wills of prominent fi gures

THE MENTION OF WILL EVOKES FEAR IN SOME

PEOPLE. TO OTHERS, IT CONNOTES AN IMPENDING

DEATH

Okotie-Eboh Mudashiru

National Mirror www.nationalmirroronline.net42 Monday, December 10, 2012 Law & Justice

It appears you are more involved in maritime practice than other aspects of legal practice. Is that correct?

Yes, I am more into maritime practice but that is not the only thing I do. To start with, I cut my teeth as a general legal practitioner. In those days, I got exposed to trial and appel-late legal practice involving subject matters such as banking, land, tenancy, insurance and criminal cases among others. Later, I got my postgraduate Diploma in Maritime law as well as Master’s in Maritime and Commercial law. I have done so much in the maritime sector that a lot of people know me more for maritime cases than other aspects of law. Again, I wrote a book titled ‘Nigerian Maritime Cabotage Policy and Law- The case and Advocacy’, which I published in 2007. It is the most comprehensive book on cabotage. It has to do with a lot of papers I wrote and published in a bid to sensitise the Nigerian public about the essence of cabotage. I was one of those who worked hard to ensure that Nigeria had a cabotage policy and a Nigerian cabotage legislation which came into fruition via the Capital Act of 2003. A lot of the papers I presented had been on Maritime law.

Section 16 of the Admiralty Jurisdiction Act has generated controversy in the maritime industry. What is your take on this?

It should not generate controversy because it was well- thought of and well delivered. There was a mischief that, that particular section was calculated to redress. That mis-chief has to do with a situation where ship owners, especially foreign ship owners with ships registered outside Nigeria that come to Nigeria to trade violate some contracts or do something that will make the ship owner li-

able. However, either before they are arrested in order to get judgement security for the satisfaction of the liability or after they are arrested and they escaped before giving sat-isfaction for the claim against them. The case would die and the Nigerian claimant will go without justice. This is because, the owner of the ship is not based in Nigeria and cannot come and attend to the case. Even when you get judgement you will be forced to try and enforce it abroad because there is no ship or bank guarantee that has been given to secure that claim or to ensure that the claim would be satisfied when you get judgement.

Secondly, even when you get judgement, if the owner of the ship happens to come from a country that does not have enforcement of judgement by way of reciprocity, then you cannot enforce that judgement against the owners of the ship in their country. So, the legislative intention was to ensure that in such a situation, the shipping agents should be held liable for any default of the ship own-ers.

But, why are shipping agents not happy with

this provision of the law?The reason some people are against this

law is that, they argued that in law, especially in contract an agent should not be liable for damages in respect of a contract where he acted on behalf of a disclosed person. But, what that argument does not appreciate is that, in tort, an agent can be personally li-able even though he is acting on behalf of a master or a disclosed principal. Again, this particular provision was actually put there in order to ensure that the mischief was redressed and that the Nigerian claimant would be given justice. Now, they can sue the shipping agent and get judgement. What I al-ways tell shipping agents is that, they should not complain, all they need to do is to make sure that before they agree to act as agent for any foreign ship, they must get an indemni-ty stating that the foreign ship will pay in case the ship owner does anything wrong and the shipping agent becomes liable. So, there is no need for controversy, it is one of the best things to happen to the maritime industry.

Are you satisfied with the anti-suit injunc-tion whereby a foreign court will restrain the Nigerian court from resolving disputes that arose in Nigeria?

I am not satisfied with it. One thing we should have in mind is that every country is sovereign. It is true that the United King-dom was once Nigeria’s colonial master, but since Nigeria became independent in 1960, we have become a sovereign nation and all its institutions or arms of government must be respected and accorded the mutual respect. Therefore, a situation where a for-eign court would make an order to restrain through anti-suit injunction, a Nigerian court from proceeding with a matter that has been instituted in the court on the basis of a foreign jurisdiction clause or law is not acceptable.

It tends to give the impression that the Ni-gerian court in not respected by the foreign court even though these are two courts of sovereign nations. It has been argued that it is not the court that is being restrained but the parties that took the case to court. But, be that as it may, the effect of that re-straining order is to prevent the court from hearing the case. So, how can you say that court is not also restrained from hearing the case? But, the truth of the matter is that, the time has come or should come when Nige-rian courts should now sit up. We have pro-nouncements made by the Supreme Court in several cases where the apex court said that courts must jealously guard their juris-diction against any ouster.

The truth of the matter is that whether or not a Nigerian court would hear a case before it on the basis that a party has raised a preliminary objection that the case ought to be heard abroad due to a provision in the

contract between the parties that in case there is any dispute, it should be resolved in a foreign court or in foreign arbitration is discretionary. There are certain require-ments or criteria that if they are met the Nigerian court can properly exercise its dis-cretion and hear the case in Nigeria.

Can a Nigerian court proceed with a case even when parties have agreed in their con-tract to settle dispute abroad?

Yes, it is discretionary and there are cer-tain principles that must be applied. But, the problem is that some judges, with due respect to them, either out of ignorance or out of not being aware of what the true position of the law is or some other rea-sons best known to them wrongly decline jurisdiction to entertain such cases despite the pronouncement of the Supreme Court. Some judges don’t even appreciate that if they delay their decisions or the entertain-ment of such applications, it gives room for the foreign court to hijack such a case and continue with it. So, what they usually do is to get anti-suit injunction and use it to harass the director of the company or the individual. They begin by telling them that if they do not comply, certain penalties will be imposed on them, namely;

Imprisonments of your directors or your good self, fine or seizure of your assets or goods or the company’s assets that are in the foreign jurisdiction. So, if you don’t quickly obey or go to the foreign court to set aside such an anti-suit injunction, they proceed and sell your goods or use police to harass you.

So, at the pains of being imprisoned or their assets being seized abroad, they now complied and ask their lawyer here in Ni-geria to discontinue the suit. The serious implication of this is that, the moment the suit is discontinued here; it prevents the Nigerian judge from entertaining and determining the maritime suit. Also, the experience the judge would have garnered from hearing and determining that suit and also the development and the growth of our maritime jurisprudence and law would be hampered. Another disadvantage is that, the Nigerian lawyers, representing both the claimants and the defendants who ought to have made some money from the case would definitely lose their fees. The case is now hi-jacked and transferred to foreign solicitors who will now conclude the case and earn fees from it.

So you have some financial detriments here. The experience which the Nigerian lawyers would have garnered on litigating the matter until judgement is delivered is also denied them. But, the most unfortunate implication is that indirectly and contrary to the provision of the constitution of ac-cess to court to redress any grievance rather than going for self -help or an extra-judicial

Only few judges are vast in

SOME JUDGES DON’T EVEN APPRECIATE THAT

IF THEY DELAY THEIR DECISIONS, IT GIVES

ROOM FOR THE FOREIGN COURT TO HIJACK SUCH CASES AND CONTINUE

WITH THEM

Igbokwe

Mr. Mike Igbokwe is a senior Advocate of Nigeria (SAN) and leading voice in maritime law and practice in the country. He is a Senior Partner in the law firm of Mike Igbokwe and Co which he founded in 1990. He was conferred with the rank of SAN in 2004. In this interview with WALE IGBINTADE, he speaks about the maritime industry, anti-suit injunction by foreign courts, among other legal issues. Excerpts.

National Mirrorwww.nationalmirroronline.net 43Monday, December 10, 2012 Law & Justice

means of resolving disputes is denied them. The implication is that people would no longer have confidence in going to court anymore. They would rather settle their disputes themselves and these may involve dangerous means.

The time has come for the Nigerian court to be bold and ascertain their position in the face of even anti-suit injunction from any country whatsoever by virtue of the fact that they belong to a sovereign nation and the constitution is backing them. Whether on appeal or in terms of going to court, there is the constitutional right of appeal, there is also constitutional right of going to court. The Nigerian court must invoke its judicial powers and jurisdiction to entertain that suit and decide the dispute one way or the other.

Don’t you think slow disposition of justice in Nigeria is the reason why foreign ship own-ers want dispute resolved abroad?

The delay in our courts is not peculiar to

only maritime cases and if it must be dealt with, it must be looked at holistically. I know that maritime cases have standing orders governing them not just universally but also in the Federal High Courts. They have to be entertained and determined expeditiously. When you consider causes of delay in our courts, some people will blame the lawyers, some will say the judges are to blame and other would blame the parties. But, my take is that, every person who has a role to play in the administration of justice can cause delay. For us to have expeditious entertain-ment and determination of cases, all those persons must cooperate together to ensure speedy trial. I give you an instance, if the judge is ready to sit, the lawyers are ready to proceed and their witnesses are in court, but because Power Holdings has disconnect-ed power and the stand-by generators of the court are down or perhaps there is no diesel due to lack of funds and the court room is too hot, the case will be adjourned.

If the judge is ready, the lawyers are ready but the witnesses are not in court, the case cannot proceed. In a situation where lawyers are ready, with some flying in from outside jurisdiction, their witnesses are in court and the parties are present in court but the judge is sick or has a congested list, the case cannot go on. Even if the judge is ready to sit, the lawyers are there, the par-ties and witnesses are in court but the reg-istrars are on strike, the judge will not carry files and be calling cases.

So, all these officers in the temple of justice including the government that pro-vides infrastructure must play their roles effectively. A lot has been done with a view to speeding up the administration of mari-time justice through the rules of court. The latest one is the 2011 Admiralty Jurisdiction Civil Procedure Rules but because the rules are implemented by human beings cases get delayed. Some lawyers are found of wasting time probably because they know they don’t have a good case and want to the delay the suit. There are also some judges that delay cases and they give you long adjournment and the case keeps dragging on.

I think we have reached the stage where we tell parties in a suit to file all their pro-cesses and set apart three days for hearing of the case and the hearing of the case must end within those three days. Any of the par-ties that failed to comply would have him-self to blame. Until we get to that point we will not make substantial progress in terms of speedy determination of cases. Again, there is congestion in our courts and we don’t have enough judges to hear the cases. For instance, the federal high courts have been given so many jurisdictions under Sec-tion 251 of the 1999 constitution. But, you must back it up with enough manpower

and resources as well as paralegal staff and equipment to enable them work speedily. If the court system becomes so slow that the people lose confidence in it, the danger is that they will become lawless.

Some have advocated arbitration as an alternative. Yes, to some extent arbitration could be an alternative but for you to go to arbitration the contract in which the dispute has arisen must have an arbitration clause and if it is not there you can’t go for arbitra-tion. Secondly, if the parties to the suit are more than the parties to the contract that has an arbitration clause, they cannot also not go for arbitration because arbitration is contractual and cannot be binding on none parties to the contract that has arbitration clause. However, arbitration is doing a lot to quicken the process. The reason business-men put arbitration clauses in their mari-time agreement is just to make sure they do not have to go to the regular courts because of the delay.

How knowledgeable are Nigerian judges in handling maritime cases?

Few of our judges are quite knowledge-able but the rest learn on the job. There are some judges today that were good maritime lawyers before they went on the Bench. Those ones you can’t take it away from them they are experienced. Now, there are also some judges that by virtue of having been learning about maritime law on the Bench, they were forced by virtue of the maritime cases coming before them to study maritime law. I must also point out that, some govern-ment agencies like the Nigerian Shippers’ Council in conjunction with National Ju-dicial Institute had for many years organ-ised series of maritime seminar for judges, where recent development in maritime law are debated. Without these seminars, a lot of the judges would be making mistakes be-cause maritime law is highly technical.

That is not to say that brilliant judges cannot learn about it on the job but it will not be the same when you have educational background in maritime law because it is very wide. I am of the view that the time has come to encourage more lawyers who stud-ied maritime law to come on the Bench espe-cially at the Federal High Court and also at the Court of Appeal and the Supreme Court. This is because a maritime case that is de-cided at the federal High Court may go on appeal to the Court of Appeal and thereafter to the Supreme Court. So, we need judges or justices who are familiar with the principles of maritime law to be in these courts, so that when such cases come before them they will be in a position to do justice to it. Maritime cases always involve enormous assets run-ning into millions of dollars and they re-quire not just expeditious determination of these cases but also require knowledgeable judges to be able to handle them properly and on time.You are a prominent member of the Nigerian Maritime Lawyers’ Association. What positive impact has the association brought to the maritime industry in Nigeria?

The Association has done a lot; part of its objectives is to create a forum where law-yers that practice maritime law can come together. Also, we belong to Comité Maritime International (CMI); it is the umbrella body for Maritime Associations of different na-

tions. They help a lot in reviewing not just maritime treaties but also in coming up with maritime treaties especially for Internation-al Maritime Organisation. So, the Nigerian Maritime has done a lot in sensitizing the public about maritime law and also consults with relevant government agencies in the maritime sector. The association has made a lot of inputs into laws and rules of procedure governing maritime practice.

What is your view about adherence to profes-sional ethics among lawyers?

When I started as a lawyer, the respect for professional ethics among legal practitioners was more than what we see today. In those days, you dare not wear your collar and gown outside court premises; it would be seen as an advertisement. After court proceedings, you have to go somewhere and change to mufti. Again, the incidence of disrespect to seniors and misappropriating or embezzling clients’ funds were not common. You avoid anything that could mar your reputation. I am not say-ing they were not there but not as common as we have them today.

I think one of the causes is that the Nigeri-an society has become so corrupt. Most Nige-rians prefer to “make it” through quick and wrongful means. They are not concerned about success that is based on hard work. If you know what you are doing as a lawyer and you are patient, focused, hardworking and you know the law, clients will come after you. In the legal profession we know each other. We know the stuff everybody is made of. But, the fact is that you cannot expect a society that is corrupt not to breed corrupt persons and lawyers are part and parcel of the Nige-rian society that is corrupt. However, it is not an excuse, the essence of professional ethics is for orderliness and it’s for decency and for progress.

Those that refused to comply with them create problems for themselves, their clients or for the court, even to the legal profession. They give the good ones a bad name. I have observed that some of the people who create problems for the legal profession today are those who never went through training un-der seasoned senior lawyers. Because, there is no way you will work under a seasoned se-nior lawyer and you will be doing something else from what you learnt under him. I don’t have any regret for choosing law; it is the best profession you can think of.

Maritime Law –Igbokwe

IN THOSE DAYS, YOU DARE NOT WEAR

YOUR COLLAR AND GOWN OUTSIDE COURT PREMISES; IT WOULD

BE SEEN AS AN ADVERTISEMENT

Will of the late Mudashiru. The Appeal Court, in a unanimous decision read by Justice John Nyang Okoro, upheld the December 15, 2009, judgement by Justice Aishat Opesanwo, in which she dismissed the suit by the deceased’s widow and some of her children and declared the Will as valid and the trustees as executors.

On the appellants’ argument that the deceased’s signature was forged, the appellate court held that from the preface of the Will, it could be seen that the late Mudashiru made the Will.

On the alteration of the Will, the court said there was nothing unusual in making corrections where necessary, as long as they were initialled.

Barely one year after the death of the Guardian newspaper publisher, late Mr. Alex Ibru, members of the family, including children of the deceased’s first marriage had dragged his widow , Maiden, to a Lagos High Court.

The claimants, Chief Felix Ibru, Miss Grace Ibru and Mrs. Mabel Okolie, nee Ibru, also joined in the suit the registrar, trustees of Omamo Trust and the Probate Registrar, Lagos High Court.

They contested the Will left by Alex Ibru, claiming there are two other ones made and filed at a Lagos High court, in May, 1989 and July, 1992 respectively.

The claimants said they discovered that another Will which was read on October 31, 2012, as a third Will.

They, therefore, prayed the court to declare that the last Will and testament, dated 8th September, 2011 made by Alex Ibru was void and of no effect and to declare that the one dated 6th July, 1992 is the last valid Will of Alex Ibru.

The plaintiffs also prayed the court to order Mrs. Ibru to render an account of the estate of her late husband and for the court to award N10 million as the cost of the action.

The matter is still pending in court. While this is yet to be decided, the Will purportedly made by the late Ikemba Nnewi and ex-Biafran Leader, Emeka Odumegwu-Ojukwu is already generating controversy. Ojukwu died on November 20, 2011 in London after a brief illness. But Bianca, Ojukwu’s widow, is reportedly favoured by the last Will and

testament purportedly read on November 30 at the Enugu State High Court. Since the purported Will was read, controversies had started brewing as regard its authenticity among family members, especially between the children and Bianca.

Debe Odumegwu-Ojukwu, the first son of the late ex-Biafran warlord, said his late father’s Will, reeked with suspicion. Emeka Ojukwu Jr, said to have gotten Ojukwu’s native house at Nnewi, also described the Will as fake.

A former speech writer to the late Ikemba, Uche Ezechukwu, is quoted to have hinted that a fierce legal battle was about to be generated by the controversial Will.

Perhaps, one deceased personality whose Will has not raised any commotion after it was read is the late lawyer, Chief Gani Fawehinmi.

Fawehinmi died in September 2009 while his Will was read in May 2010. In the Will, he shared his vast assets among his three wives, 15 children, four sisters and other dependents. The late lawyer also appointed First Trustees Nigeria, a subsidiary of First Bank of Nigeria Plc as his executor and trustee.

Among other directives, Fawehinmi instructed the trustees to open Gani Fawehinmi Trust Account, into which all monies accruing to his estate should be paid. The late activist also pleaded with all his children and wives not to resort to any form of litigation over his Will urging them to resolve any dispute or controversy amicably.

The former Chief Judge of the Federal High Court, Justice Rose Ukeje, in a paper titled: Putting Your House and Business in Order,” delivered in Lagos, observed that Wills are intended to avoid commotion after death.

She said experience had shown that to the contrary family members usually get into serious controversy that could, at the end, waste the assets in issue.

Justice Ukeje, therefore, recommended that it might be imperative to insert in the Will what she described as the ‘’Riot Act’’.

According to her, This is to the effect that ‘’any one who challenges the Will in its entirety, or refuses his or her own devise or challenges the gift to another person loses his own devise.’’

She also added it should be included in the Riot Act that anyone who suggests in any way that the donor was mad or coarsed while making the Will loses his gift.”

Be that as it may, Justice Ukeje’s suggestion is worth considering by all and sundry.

National Mirror www.nationalmirroronline.net44

Ojukwu Ibru

Monday, December 10, 2012 Law & Justice

Notwithstanding this, all is still not well with the deceased’s children.

The Will of the late founder of the defunct Stationery Stores Football Club of Lagos, Israel Adebajo, who died on July 25, 1969, was also a subject of controversy. The rumpus raged between one of his widows, Irene on one hand, two other widows, Olabisi and Adunni Adebajo (later Justice Adebajo) and some of the deceased’s children on the other hand. The matter lingered in court for several years until it was judicially determined by the Supreme Court on April 18, 1973.

Irene Adebajo had appealed against the judgement of the then Chief Justice of Lagos; Justice J.I.C Taylor, delivered in the Lagos High Court on November 12, 1971. Specifically, in the judgement, the court, dismissed Irene’s action and pronounced in favour of the will of Israel Adebajo (deceased) dated 21st January, 1969 and made and executed on 25th June, 1969 by the said deceased.

But the widow had appealed, among others, and sought a declaration that Adebajo died intestate.”

The apex court, in its lead verdict read by Justice Taslim Elias, said ‘’we agree with the learned Chief Justice (Taylor) that “no argument has been put forward nor any evidence led to show that the terms of the Will are incoherent, or strange or unnatural or that the Will was not duly executed”. As we have said earlier, there is no need in the circumstances of this particular case for the defence to have pleaded a counter-claim in order to be entitled to an order pronouncing in favour of the Will. ‘’Therefore, we see no reason to vary the order which the learned Chief Justice did make, namely, an order pronouncing in favour of the Will dated 21st January, 1969 and made and executed on 25th June, 1969. The appeal is accordingly dismissed with costs to the respondents assessed at N270.’’

In a similar vein, the children of the late famous Ikorodu-born transporter, Chief Julius Oshinowo of the Oshinowo Transport Company fame were also embroiled in a legal tussle at a Lagos High Court over the validity of the Will left behind by their father. At the centre of the controversy some years ago was the former Chief Judge of Lagos State, Justice Inumidun Akande, who is a daughter to the deceased and also one of the beneficiaries of the Will.

About two years ago, the Will made by a former Military Governor of Lagos State, late Commodore Gbolahan Mudashiru (rtd) also caused disaffection between the deceased’s widow, Foluke and family members.

Mudashiru died on September 23, 2003 in a United Kingdom hospital after a brief illness and his remains were later buried in London by the widow and her children.

The widow and the children eventually challenged the validity of the Will. They lost at the High Court and also at the Court of Appeal.

The appeal was instituted by the deceased’s widow, Foluke and three children, Tolulope, Openifolu and Oladapo, acting as the late governor’s next –of –kin and beneficiaries of his estate.

Three core issues came up for determination. They include: whether the Will titled : Trustees/Executors was the last Will of the late Mudashiru and not a forgery as claimed by the appellants; whether the trustees appointed by him were also executors of the Will, and whether the lower court acted rightly when it made declarations and orders in the absence of a counter-claim.

The appellate court, in its judgement, affirmed the right of execution granted by the state’s High Court to those appointed as Trustees over the

‘It’s imperative to insert Riot clause in the Will’ CONTINUED FROM PAGE 41

FAWEHINMI PLEADED WITH ALL HIS CHILDREN AND WIVES NOT

TO RESORT TO ANY FORM OF LITIGATION OVER HIS WILL

National Mirrorwww.nationalmirroronline.net 45Monday, December 10, 2012 Law & Justice

Ghana

Event

IndiaForeign

Indian court seeks explanation for Facebook arrests

India’s top court has ordered a state government

to explain the arrest of two women for a comment one of them posted on Facebook, in a case that has sparked nationwide outrage over the mis-use of India’s Inter-net laws.

According to AP, the women were ar-rested in Thane, a suburb of Mumbai in the state of Maha-rashtra, and imme-

diately freed on bail for criticising the shutdown of India’s financial capital after the death last week of a powerful rightwing politician. While one woman posted the comment, her friend who “liked” the com-ment was also ar-rested.

The Supreme Court gave Maha-rashtra four weeks to explain the circum-stances under which the women were ar-rested. The court was hearing a petition

filed by Ms Shreya Singhal, a student in New Delhi, challeng-ing the Internet law and the possibility of its misuse. Ms Sing-hal said the word-ing of the law was vague, allowing it to be abused by people in authority.

The widespread protests in the media and the public outcry that followed the ar-rests led the Maha-rashtra government to suspend the two po-licemen and transfer the magistrate who had approved the ar-rest and granted bail.

The Human Rights High Court in Accra

has dismissed an ap-plication for judicial review filed by the Na-tional Democratic Par-ty (NDP) accusing the Electoral Commission (EC) and its Chairman, Dr. Kwadow Afari Gyan of human rights abuse, when the commission rejected its presidential nomination forms for the general elections on the basis of not comply-ing with regulations.

According to All Africa, the court, pre-sided over by Justice Kofi Essel Mensah, ruled that the EC in no way infringed on the applicant’s hu-man rights for reject-ing the nomination forms but that it was due to the NDP’s own tardiness that ended their Presidential am-bitions.

According to the

court, the applicant failed to put forward a strong case to obtain a favourable verdict and that its nomina-tion forms could not pass validation follow-ing non compliance of the regulations of the EC.

The court further struck out the name of the chairman of the EC, Dr. Kwadwo Afari Gyan from the suit for improper join-der.

Expatiating on its ruling, the court noted that the applicant was required by law to sub-mit its nomination forms on or before specified deadline giv-en by the EC, beyond which it would not be accepted.

The court further rejected the assertion by the applicant that the EC gave only a day for the submission of nomination forms, noted that the com-mission abided by the mandated two days re-quired under the laws.

It further rejected the claim of the appli-cant that the EC did not grant it time to correct the errors on their forms, explain-

ing that the commis-sion does not have the right to grant addi-tional time to correct errors and submit out of the specified time because the new Con-stitutional Instrument (C.I.) 75 has taken the discretionary powers from the EC.

The court noted, therefore, that the ap-plicant could not cor-rect the errors on its nomination forms be-fore the closing time, thereby bringing its presidential ambition to a premature end, adding that the NDP failed to provide any law that allows for ex-tension of time to cor-rect anomalies on the nomination forms.

The decision of the court followed an ap-plication for ‘manda-mus’ filed by the NDP, asking the court to or-der the EC to en-list its presidential nominee on the list of candi-dates for the up-com-ing general election, in addition to declaring the rejection of their nomination forms by the commission as an infringement of their human rights among other claims.

Ghanaian court rules on NDP presidential case

Indian women arrested for facebook posts. Renu Srinivas and Shaheen Dhada

Ghana President, John Mahama

L-R: Dean, Faculty of Law, Lagos State University (LASU), Prof. M.T Abdulrazaq; Chief Superin-tendent of Police (CSP), Margaret Ekpe and Chairman of the occasion, Chief Victor Odunaiya at the Alimosho Lawyers’ Forum’s First Summit held in Lagos recently.

L-R Baale of Adeku village in Alimosho Local Government, High Chief Taiwo Adeolu; Legal Ad-viser, Lagos State Traffic Management Agency (LASTMA), Mrs. Margaret Adewale and the guest lecturer, Dr. Abiola Sanni of the Faculty of Law, University of Lagos.

Cross- section of participants at the lecture. Other participants at the lecture. Photos: FRANCIS FAMOROTI

Monday, December 10, 2012Law & Justice46 National Mirror www.nationalmirroronline.net

Investment Law

Investment tribunal sanctions securities’ fi rm, manager TOLA AKINMUTIMIABUJA

The Investment and Securities Tri-bunal sitting in Abuja has sanc-tioned a stock broking company,

Davandy Finance and Securities Lim-ited and its Abuja branch manager, Mr. Abodunde Abiodun, for culpability in a multi-million naira fraud and breach of the code of conduct for capital market operators.

According to a statement by Kenneth Ezea, Deputy Director/Head, Public and International Affairs of the Tribunal made available to National Mirror last week , the penalties imposed on the company include repayments of N98.8 million, shares buy-back, N2.5 million damages, debar of company and man-ager from market operation and further prosecution by police and EFCC for fraud, amongst others.

The judgement which was signed by the Tribunal Chairman, Dr. Nnenna A. Orji, is intended to entrench new man-datory improvements of the principles, processes as well as regulatory funda-mentals of the capital market.

In addition, the company and its of-

ficer were jointly and vicariously found guilty of fraudulent sale of 500,000 Wema Bank Plc shares belonging to an investor without authorisation and also for fraudulent conversion of another N117million invested with them.

Delivering judgment in an appeal filed by Mrs. Olabisi Titiola and eight others against the Securities and Ex-change Commission (SEC), Davandy Finance and Securities Limited and 11 others, the Tribunal found that the com-pany violated the provisions of Rule 182 (a)(1) of the SEC Rules and Regulations and article 1(v) of the code of conduct for Capital Market Operators by dis-posing of the 500,000 units of Olayinka Temitayo’s Wema Bank Plc shares with-out authority.

The Tribunal ordered Davandy Fi-nance and Securities Limited to buy back within 30 days from the date of the judgement 500,000 units of Wema Bank plc shares for OlayinkaTemitayo and the accrued benefits thereon from August 3, 2009 till date. It said failure to comply with the decision should at-

tract a penalty of =N=5,000 (Five thou-sand naira only) per day until it is fully paid pursuant to Rule 7 of the SEC Rules and Regulations.

The facts of the case showed that the Appellants namely; Olabisi Titiola, Olu-wademilade Michael, Temiloluwa Sam-son, Anike Adeola, Asiwaju Tumwase Evangelical Foundation, Samsibah Enterprises, Oluwatayo Favour Akin-Adaramola, Mosopefolowa Hepsbah Akin-Adaramola, Akin-Adaramola Olu-watimilehin Samson had petitioned the SEC through their solicitors, Femi Ale-mede & co, alleging to have invested the sum of =N=117,500,000.00 (One Hundred and seventeen million, five hundred thousand naira) with Davandy Finance and Securities Limited through Mr. Abodunde Abiodun, the Abuja branch manager.

The Appellants further claimed that OlayinkaTemitayo being the maiden name of Olabisi Titiola had in August 2009 received an SMS alert on her mobile phone to the effect that the respondents had sold 500,000 units of her Wema Bank Plc. shares without her authoriisation. OlayinkaTemitayo reported the unau-thorised sale to the Central Securities

Clearing System (CSCS) and the SEC.The SEC thereafter held its admin-

istrative proceedings in October, 2010, and upon an evaluation of the evidence presented by the parties, including the fact that while in the employment of the company Abiodun operated an ille-gal Equity Investment Scheme whereby funds were received from the investing public with promise of paying back capi-tal and interests on investments without the authorisation of the company and knowledge of its directors, amongst oth-ers, decided that only the Abuja Branch Manager alone should bear the respon-sibility for restituting the victims.

However, in its judgment, the Tri-bunal frowned at the SEC’s decision to shield the company and its directors from direct or vicarious responsibility, stressing that there was no evidence be-fore it to show that Abiodun had anoth-er company with a different name from Davandy Finance or that he operated his equity fund from a separate office while working for Davandy Securities.

Accordingly, the tribunal found the second respondent (Davandy) jointly and severally liable with the eight re-spondent (Abiodun) for the balance of N98, 823, 207 .00 outstanding and all accrued interests.

EMMANUEL ONANI

On Friday November 23, the cur-tain at the Court of Appeal fell and a new director was ushered

into the stage, in a well-choreographed drama that seems to paint a vivid pic-ture of the “theatre of the absurd”.

A clue to the new development was given by the National Judicial Coun-cil, NJC, which in a terse statement signed by its Deputy Director of In-formation, Mr. Soji Oye disclosed that, President Goodluck Jonathan had ap-proved the recommendation for ap-pointment of Justice Zainab Bulka-chuwa, as new acting President of the Court of Appeal, PCA.

The appointment, the statement added, was propelled by the compel-ling need to fill the vacuum, which the expiration of the fifth term of Jus-tice Dalhatu Adamu on November 23, would have created. After all, even na-ture abhors a vacuum!

The November “ritual” thus ended the record-setting, record-breaking stewardship of Adamu as first acting PCA (August 22, 2011 to November 23, 2012), and heralded the beginning of a new era; the swearing-in of the first female acting PCA.

It is interesting to restate the fact that, the development at the appellate court, which resembles ancient-day “ritual of purgation”, is consequent upon the suspension of Justice Ayo Isa Salami as PCA on August 18, 2011, by the Justice Aloysius Katsina-Alu-led NJC, on grounds of “gross mis-conduct” and refusal to tender “unre-served apology” to the former CJN.

The Attorney General of the Fed-eration, AGF, and Minister of Justice,

Mr. Mohammed Bello Adoke, SAN, in-sists that until all pending cases are disposed of, the Federal Government, which draws it strength from the rule of law and due process, cannot take steps to reinstate Salami.

At a Ministerial Press Conference held in Abuja in May, Adoke noted that... “there has been a lot of miscon-ception...On the 11th of May, the NJC was said to have recalled Justice Sa-lami; it was just this Friday that the Federal Government received the let-ter from the NJC notifying it that Jus-tice Salami was being recalled.

“And on that day the Federal Gov-ernment also received various mitiga-tions by way of originating processes challenging the powers of the NJC and seeking an order to restrain the President from giving his vet to the resolution of the NJC.

“So, as it is today, the matter is subjudice and no responsible govern-ment will try to overreach the court. This government is prepared to do the right thing and will do the right thing as soon as the judiciary puts its acts together the matter re solved expedi-tiously”, Adoke added.

In any case, the new acting PCA’s term is expected to end on February 24, 2013, and whether the nation will be treated to another round of renewals, time will tell.

Section 238 (4) and (5) provide that, “If the office of the President of the Court of Appeal is vacant, Or if the person holding the office is for any rea-son unable to perform the functions of the office, then until a person has been appointed to and has assumed the func-tions of that office, or until the person holding the office has resumed those functions, the President shall appoint

the most senior Justice of the Court of Appeal to perform those functions.

“Except on the recommendation of the National Judicial Council, an ap-pointment pursuant to the provision of subsection (4) of this section shall cease to have effect, after the expira-tion of three months from the date of such appointment, and the President shall not re-appoint a person whose ap-pointment has lapsed.”

Before her appointment, Justice Bulkachuwa was the Presiding Justice (PJ) of the Yola Division, Court of Ap-peal. She was inaugurated in a brief ceremony, in one of the Chambers of the CJN.

The event witnessed some drama, as journalists, especially, were barred from entering the venue, where Justice Ifeoma Jombo-Ofo, also took oath as Justice of the Court of Appeal.

A very senior official of the court,

who did not identify himself, insisted that journalists would not enter the venue and when asked why, he said “Because we did not invite the press; it’s only NTA that is allowed in”.

Some of Bulkachuwa’s judgements were delivered in the Yola and Jos Di-visions of the Appeal Court, where she presided. These include her ver-dict dismissing the appeal of the Ac-tion Congress of Nigeria, ACN and its governorship candidate in Adamawa state, Marcus Gundiri, against the re-turn of Vice Admiral Murtala Nyako (rtd) as Governor, as well as the July 15, 2008 verdict that returned the Sen-ate President, David Mark to the sixth Senate.

In her lead judgement in the Appeal court, Jos Division, Bulkachuwa held among others that, “Where an election has been concluded and returned as in the instant appeal, Section 69(b) of the act applies and such returns cannot be cancelled or invalidated by anybody.

“In the instant case, all the process-es of an election had been concluded as all entries into the various forms of the election results have been made and endorsed by party agents at the various levels. The returning officer at the top of the electoral pyramid lacked the power to cancel the elections. Sec-tion 69 of the Electoral Act does not confer such powers on him. The lower tribunal was, therefore, wrong to have held that he had such powers.

“For all that I have been saying, this appeal has merit and thereby is allowed. The decision of the lower tri-bunal, which was given on the 28th of February, is hereby set aside. The re-turn of the appellant (Mark) as Sena-tor representing Benue South is here-by affirmed.”

Succession crisis hits Appeal Court as ... Bulkachuwa steps in

Justice Isa Salami, suspended President, Court of Appeal

Law & JusticeNational Mirrorwww.nationalmirroronline.net 47Monday, December 10, 2012

The President’s economic team and the rest of us

Bar Jokes

Unreasonable bill

School debate experience came to my rescue –Aladesanmi

Culled from Bar Jokes.Com

A client who felt his legal bill was too high asked his lawyer to itemize costs. The statement included this

item:“Was walking down the street and saw

you on the other side. Walked to the corner to cross at the light, crossed the street and walked quickly to catch up with you. Got close and saw it wasn’t you. -$50.00.”

What is the oldest profession?

A physician, an engineer, and an attorney were discussing who among

them belonged to the oldest of the three professions represent-ed. The physician said, “Remem-ber, on the sixth day God took a rib from Adam and fashioned Eve, making him the first sur-geon. Therefore, medicine is the oldest profession.”

The engineer replied, “But, before that, God created the heavens and earth from chaos and confusion, and thus he was the first engineer. Therefore, en-gineering is an older profession than medicine.”

Then, the lawyer spoke up. “Yes,” he said, “But who do you think created all of the chaos and confusion?”

A man woke up in a hospital bed and called for his doctor. He asked, “Give it to me straight. How long have I

got?” The physician replied that he doubted that the man would survive the night.

The man then said, “Call for my lawyer.” When the lawyer arrived, the man asked for his physician to stand on one side of the bed, while the lawyer stood on the other. The man then laid back and closed his eyes. When he remained silent for several minutes, the phy-sician asked what he had in mind. The man replied “Jesus died with a thief on either side. I just thought I’d check out the same way.

Some last-minute requests

My first appear-ance in court was in 1986

during my National Youth Service Corps programme. I was serv-ing with Chief Afe Baba-lola SAN. I just got to the office one morning and I was told to go to Iwo immediately to handle a matter at the Magis-trate’s Court.

It was a case involv-ing alleged malicious destruction of property. The client was in office, and he was to go with me to Iwo for the case. This was to be case I would appear alone. The natu-ral anxiety was there. As a matter of fact, as we were was going in the vehicle, my mind was beating very fast all the way from Ibadan to Iwo!

When we got to the court, I took one look at my client and said in my heart “I pity you!” I was well-dressed and looked corporate; the client never knew I was just a rookie lawyer. But before the case was called, I steeled myself up. I remembered my exploits in the school debate ways back in my secondary school days in the King’s Col-lege, Lagos, where I was the Chief Debater. Then I told myself, if I

could stand up before the crowd and argue articulately in school debates, I could as well stand up and argue my case before a magistrate in court. That was that,

I dispelled the fear and when it was my turn I mustered courage and addressed the court.

“I told the judge that the charge sheet was in-competent” Fortunately, the magistrate turned to the police prosecutor and asked what he had to say on my objection. I was amazed that the prosecutor had nothing to say in defence of the charge. The magistrate consequently struck out the charge!

CHIJIOKE NDUBUISI

In most advanced democracies, the po-litical, economic conventions and prac-tice had always been that managers of

affairs of men take full responsibility of any major economic or political policies propelled by them but suffered causality in hand of the downtrodden masses as not meeting the minimum expectation of peo-ple to alleviate their problems. In France, former President Sarkosazy threw in the towel having been defeated in a general election mainly as result harsh economic policies introduction by him. And in his first speech after the defeat, he says ‘I ac-cept the full responsibility for this defeat”. He therefore urges his country men and women to cooperate with new president to move the country forward.

So many other instances of this are abound in other advance countries. This particular noble practice of economic and political behavior appears to be eluding us a nation when one juxtaposes the recent happening with respect to the planned introduction of N5,000 currency by Cen-tral Bank of Nigeria under the leadership of Lamido Sanusi and the behaviors of gladiators in the whole matter especially the leadership of C.B.N plus members of president’s economic team who hurriedly approved the introduction of the currency and failed, refused or neglected to see any-thing bad in its introduction vis- a -vis the poor masses.

This obviously brings us to the question as to the manner of persons in the presi-dent’s economic team, its composition, structure, the pedigree of members, their postulations, propaganda, projections and any modicum of intellectualism imbued in them.

The importance of good economic poli-cies that would transform the lives of mass-es cannot be overemphasise, so that any government that worth its salt and wants to obey the constitutional provision of wel-fare of people being the cardinal objective of government must be careful on bring-ing in on board of persons who would pilot the economic affairs of the nation. That apart from Dr. Ngozi Okonji -Iweala, world acclaimed technocrat, others in the presi-dent’s economic team and advisers are least qualify to be there and that the idea of appointing traders, business men who are in top echelon of wealth and have totally lost touch with the masses may not be good for the economic wellbeing of this country.

It is submitted that the President’s eco-nomic team is patently and incurably de-fective, unimpressive, radiating no confi-dence and deserves to be disbanded. This is to give way to a brand new team composed of intellectuals with known fraternity with the poor masses in the interest of economic transform of this administration.

The fact that none of members of presi-dent’s economic team who gave the advise that government should go on with planned introduction of N5,000 currency note and which policy was later defeated and sub-sequently cancelled has not deemed it fit to apologize to the nation or even resigned

their appointments accentuates our stand that some of the members of the teams are indeed dishonourable and do not deserve such appointment in midst of so many competent Nigeria to be given such posi-tion.

That had government heeded to their ad-vice, one could have imagined the calami-tous affect it would have on lives of the poor masses and economic overall. So many peo-ple could have been sent to untimely death as a result of not making ends meet. Time has come when men and women who are saddled with responsibility must bear the consequences of their actions and inac-tions while in office. Public office must be seen as a sacrosanct call and any step, con-duct, action tending to discreet or spoil the office in whatever way must not be encour-age at all in overall interest of the state. What stops the members of economic team from even acknowledging defeat and ten-der an unreserved apology to the nation, or better still resign their appointments.

It is known that Nigerians have short memory when it comes to the affairs of the nation and ordinarily would have forgot-ten and even forgiven after a few months or years of their ill-fated advice. After all there are so many economic atrocities com-mitted against Nigerian people by previ-ous administration, yet , Nigerians today praise, celebrate those leaders today appar-ently they have learnt nothing and forgot-ten nothing.

We sincerely urge our leaders either in political or economic front to learn from noble practices of other countries that have passed our present developmental stage and do apply it to the nation building for interest of advancement of the country. To be in government at all cost must not be encouraged at all. Leaders must always ap-ply the admonition of late American Presi-dent John F. Kennedy that we must always look for what we can do for our country not what the country can do for us. This is apt in circumstance because, leaders must al-ways uphold nobility practices which exalt the nation.

In conclusion, we advice economic and political leaders to take full responsibility of their actions or inactions and as Ghandi 1869-1948 warned us about the things that destroy us as a nation “Politics Without Principles” knowledge without character”.

Ndubuisi is a Lagos-based Legal

Practitioner and President of COGTLA Group of Lawyers.

Rotimi Aladesanmi

THE PRESIDENT’S ECONOMIC TEAM IS PATENTLY AND

INCURABLY DEFECTIVE, UNIMPRESSIVE, RADIATING NO

CONFIDENCE AND DESERVES TO BE

DISBANDED

Two barrow pushers trying to prevent cow meat from falling to the ground at Mile 12 market, Ikorodu, Lagos. PHOTO: OLUFEMI AJASA

WOLE ADEDEJIILORIN

The Kwara State Govern-ment has said, it is ready to champion the establish-

ment of Hydro Power Producing Area Development Commission (HYPPADEC) by the Federal Government, to take off before conclusion of the on-going un-bundling of the power sector, in order to mitigate the sufferings in the affected communities.

Secretary to the Government, Alhaji Isiaka Gold said the state would champion this cause by ensuring that governors in the zone impress on the Federal Government on the need to fa-cilitate immediate take off of HYPPADEC.

According to him, the State Executive Council, expressed concern on delay in the take off of the Commission in spite of the enactment and signing of the Act into law.

Gold said, “The take off of the commission will enable gov-ernment tackle the perennial challenges and miseries facing the downstream communities”.

Speaking on the recent Visita-tion Panels to the three Colleges of Education in Ilorin, Oro and

Kwara advocates establishment of hydro power commission

Community MirrorNational Mirrorwww.nationalmirroronline.net48 Monday, December 10, 2012

OKAY OSUJI

The World Bank is to ap-praise the readiness of Cross River State in the

implementation of Youth Em-powerment and Social Support Operation (YESSO) in 2013.

Speaking at a meeting or-ganized by Department of In-ternational Development Co-operation (DIDC) in Calabar, Consultant, Social Protection, World Bank, Dr. Suleiman Yu-suf said the institution is desir-ous of empowering youths with the requisite skills and ideas that would make them economi-cally independent.

He said that Cross River has been selected alongside Osun and Niger by the bank for such empowerment and called on the

state government, to provide the enabling environment for the youths to thrive in ideas and businesses.

Also speaking, Senior Health Specialist of the Bank, Dr. Oluwole Odutolu praised the government’s strides in the tourism and called on the youths to channel their ener-gies towards the industry as is being done in other coun-tries.

He said this form of streamlining would further endorse Cross River as tour-ism destination of the coun-try, and indeed Africa.

Participants were drawn from the Calabar Chamber of Commerce, Industry, Mines and Agriculture, Ministries of Youths and Sports Develop-ment, Social Welfare and Com-munity Development and Wom-

en Affairs.Others were Road Mainte-

nance Agency, Supreme Coali-tion, Medium Enterprise Devel-opment Agency (MEDA), and Partnership Opportunities for Women Empowerment Real-ization (POWER) and Boys Brigade.

In their separate remarks, participants agreed to har-monize their various youth empowerment schemes even as they urged the World Bank and DIDC to ensure there are no leakages in the interven-tion process.

Coordinator of Boys Bri-gade and Accountant, Min-istry of Information, Elder Antigha Ita, recalled the efforts of his organization in empower-ing the youths and stated that, through close monitoring and supervision, the efforts have

produced tremendous results.In his opening remarks, the

Head of YESSO Coordinating Unit in the Department of Inter-national Development Coopera-tion (DIDC), Mr Festus Ofutet said the state was fully prepared for the YESSO operations, judg-ing from the programmes rolled out by the government in the ar-eas of social works, skills acqui-sition, Conditional cash Transfer (CCT) and Social Safety Net.

On its part, Ofutet said, MEDA in collaboration with National Di-rectorate of Employment (NDE), is expected to host the skill for job programme, while the Ministry of Social Welfare and Commu-nity Development will host the CCT and other social safety Nets Programmes under the coordina-tion of the Department of Inter-national Development Coopera-tion.

Lagos embarks on corrective surgery for mouth deformities

NGO trains rural dwellers in soap, lotion making skills

World Bank to empower youths in Cross River JAMES DANJUMAKATSINA

A total of 100 rural dwellers, including women and the elderly, have undergone

training in the production of household items, soaps, air fresh-eners and body lotion, in Batagara-wa Council Area of Katsina State.

The training was organized by a Non Governmental Organisation, the Walin Hausa Foundation, as way of empowering beneficiaries to become self reliant.

According to executive chair-man of the foundation, Jamilu Umar Abdullahi, the beneficiaries, were chosen from Baganzamawa, where the NGO is situated.

Abdullahi, said the 100 trained community members would each be given incentives to enable them start up businesses.

“With the socio-econmic damage done to the north by incessant insecurity, it would require more than 20 years to clean up and revive

the region.”FORMER MILITARY HEAD OF STATE; GENERAL ABUBAKAR ABDULSALAMI (RTRD)

Lafiagi, Gold said the council di-rected the schools to discontinue all degree and outreach courses and rather focus only on training of teachers for basic education.

The SSG said the council also approved the setting up of com-mittees to look into the debt of N152million in the College of

Education, Ilorin and another committee to check the appro-priateness of re-introducing the IJMB Programme in the Oro and Lafiagi campuses without losing focus of their primary mandates.

He said government has re-named the road to Government

Secondary School as “Sola Saraki Way.”

Similarly, he said the council mandated Governor Abdulfatah Ahmed to write President Good-luck Jonathan to support Senate resolution to rename the Ilorin International Airport after the late political icon.

MURITALA AYINLA

The Lagos State Commis-sioner for Health, Dr. Jide Idris has said that about 2,000

people suffering from congenital mouth deformities called cleft lip and palate have benefitted from the government free corrective surgical intervention, known as Free Cleft Lip and Palate Corrective Surgery Programme.

Idris who disclosed this when he visited the beneficiaries at the Lagos State University Teaching Hospital (LASUTH,) recalled that the programme was initiated in 2006 due to the increasing number of patients suffering from these de-formities.

He said: “Realizing the grav-ity of the problems associated with cleft lip and palate; consequences of which include bizarre facial ap-pearance, inability to feed well from birth leading to malnutrition, ear and chest infections, poor physical and mental development amongst others, the Lagos State Government came up the programme, tagged “Operation Smile” to curb the men-ace and bring smiles to the faces of patients”.

World News‘Venezuelan President Chavez needs cancer surgery again’

National Mirrorwww.nationalmirroronline.net 49Monday, December 10, 2012

50

Ghana’s poll: Opposition alleges rigging

Somali troops and African Union forces have captured the town of Jowhar from the Islamist militant group, al-Shabab, reports say.

The troops encountered no resis-tance as the militants had fled, said a military spokesman and residents in the town.

Jowhar was the biggest town under the control of al-Shabab Islamists.

The al-Qaeda linked group has been driven out of most urban areas over the past two years, but still controls many rural areas of the country.

Jowhar, 90km (55 miles) north of the capital, Mogadishu, commands access to Somalia’s biggest road linking the southern and central re-gions of the country. It is also at the heart of a rich agricultural area.

“We took control this morning and are now establishing security in Jowhar,” a spokesman for the AU mission in Somalia, Amisom, told AFP news agency.

Ivory Coast’s president says that the papal envoy to Ivory Coast was killed in a traffic accident.

Ouattara expressed “deep regret,” in a statement read out on state television on Saturday evening over the death of Indian archbishop, Ambrose Madtha.

Madtha, who assumed his post in 2008, had officiated a service in the north-western town of Odienne on Saturday and was travelling to the western town of Man when his ve-hicle collided with another vehicle.

South African President Jacob Zuma has visited Nelson Man-dela in hospital and says he “looks well after a restful night”, Zuma’s spokesperson said.

The president has been reas-sured that Mandela is in the hands of a competent medical team at the hospital in Pretoria, Mac Maharaj told the BBC.

The 94-year-old was admitted to hospital on Saturday to undergo tests.

South Africans have been waiting for word on Mandela’s condition amid messages of hope for a speedy recovery.

Mandela was taken from his home in the rural village of Qunu, in Eastern Cape province, to hospital in the capital on Saturday.

Local media report that the deci-sion to move him was taken so quickly, some family members and his own foundation were initially unaware it had happened.

Al-Shabab militants lose Somali town

Papal envoy to Ivory Coast dies in car accident

Mandela looks well in hospital –Zuma

WORLD BULLETIN

Egypt’s president backs down from decree

PAUL ARHEWEWITH AGENCY REPORTS

In Ghana’s tight presidential election race, official results have not yet been an-nounced, but local media have tipped Pres-

ident John Dramani Mahama as the winner while the party of opposition candidate Nana Akufo-Addo accuses vote rigging.

Scores of supporters of the opposition New Patriotic Party protested alleged voting fraud by taking to Accra’s streets, carrying twigs and singing. Riot police and military person-nel came out to maintain order.

The opposition party said there was a con-spiracy to “falsify the election results.”

“Considering the closeness of the polls, this error is very significant and goes to the heart of the credibility of the results. Indeed, we have enough concrete evidence to show that the 2012 presidential election was won by our candidate, Nana Akufo-Addo,” said Jake Obet-sebi-Lamptey, chairman of the party.

The party called on the national electoral body to carry out an audit, and asked to with-hold final results until an investigation is com-pleted.

Kwadwo Afari-Gyan, the Chairman of Ghana’s electoral commission, said he had not heard of the opposition party’s accusations, when reached by The Associated Press.

Meanwhile, The ECOWAS Election Observa-tion Mission to Ghana’s 2012 Presidential and Parliamentary elections led by former Presi-dent Chief Olusegun Obasanjo has described the electoral process as generally peaceful and transparent and appealed to political parties and candidates to accept the eventual verdict that would emerge from the poll.

“The ECOWAS Mission is of the view that apart from the logistical challenges that caused undue delays in completing the electoral process, the Electoral Commission provided the necessary environment and fa-cilities to eligible Ghanaians to exercise their franchise in a secure and transparent manner and ECOWAS expects this spirit to continue

till the concluding phase of the electoral pro-cess,” the Mission said in its 46-point Prelimi-nary Declaration issued in Accra on Saturday 8th December 2012.

In the statement read by the Deputy Head of the 250-strong observer Mission, Dr. Chris-tiana Thorpe, Chairperson of Sierra Leone’s Electoral Commission, the declaration con-gratulated the electorate of Ghana for their courage, patience, determination and commit-ment in the face of challenges and appealed to them to maintain the same spirit till the end of the process,” The Mission also congratulated the country’s security agencies for “their com-mendable role in ensuring election security

It urged the Electoral Commission “to expedite action on the proclamation of the

provisional results, to prevent further anxi-ety within the polity.” It also “enjoins all ag-grieved parties to resort to only legal means in seeking redress.”

The Declaration said the ECOWAS Observ-er Mission “will continue to closely monitor the concluding phases of the electoral pro-cess, in particular the voting process in the extended ballots, as well as the tallying and declaration of provisional results by the Elec-toral Commission (EC) and should the need arise, will not hesitate to make further decla-rations.”

Electoral chairman Kwadwo Afari-Gyan said no incidents of fraud or violence have been confirmed. Yet rumours of misconduct have been rife.

Egyptian President Mohamed Morsi has annulled a decree that granted him expansive power and the army was

mobilized to maintain security, officials said.In a televised statement on al-Arabiya, Vice

President Mahmoud Mekki said the army had been mobilized to maintain security. The Egyptian cabinet approved measures per-mitting the army to use force if “necessary to perform their duty,” al-Ahram newspaper reported.

Islamist politician Mohammed Selim el-Awa told a news conference Saturday the ref-erendum on a draft constitution on December 15 would go ahead as planned and be immune from judicial appeal, al-Masry al-Youm said.

“If the people voted no to the referendum, a new Constituent Assembly will be formed within three months via general elections, after which it will write a new constitution

within six months,” he saidHowever, one of the key demands of Mor-

si’s opponents was to halt the referendum.Ahmed Said, head of the Free Egyptians

Party and a key member of the National Salvation Front coalition, called Morsi’s an-nouncement shocking, saying it failed to halt the referendum, the BBC said. Former presidential candidate Mohamed ElBaradei, one of the founders of the National Salva-tion Front, called Morsi’s decision “ arm-twisting.” The party was expected to issue a response yesterday.

Tanks, concrete blocks and barbed wire surrounded Morsi’s palace in Cairo, which has been the flashpoint of violence in the country in the past week, the BBC said.

At least seven people were killed and hun-dreds injured in violent protests between anti-Morsi protesters and supporters that plagued the country after Morsi announced a decree giving him sweeping powers shield-ing him from judicial review, Ahram Online said.

Morsi

Angry demonstrators protesting alleged vote counting irregularities, in Accra, Ghana, on Saturday. Photo: AP

“ZANU-PF will fi ght like a wounded animal to reclaim the government we lost in 2008 elections”

- ZIMBABWEAN PRESIDENT, ROBERT MUGABE

• Election peaceful, transparent –ECOWAS Observers

50 National Mirror www.nationalmirroronline.netWorld News

Venezuelan Presi-dent Hugo Chavez was heading back

to Cuba on Sunday for more cancer surgery after an-nouncing that the illness re-turned despite two previous operations, chemotherapy and radiation treatment.

Chavez acknowledged the seriousness of his health situation in a televised ad-dress Saturday night, saying for the first time that if he suffers complications Vice President Nicolas Maduro should be elected as Venezu-ela’s leader to continue his socialist movement.

The president is sched-uled to be sworn in for a new six-year term Jan. 10.

“There are risks. Who can deny it?” Chavez said, seated at the presidential palace beside Maduro and other aides. “In any circum-stance, we should guarantee the advance of the Bolivar-ian Revolution.”

Chavez, who won re-elec-

tion on Oct. 7, said he would undergo the operation in Havana in the coming days. He asked for lawmakers to grant permission for him to fly to Havana on Sunday, but it was unlikely that his request would be denied. It was unclear what time he would leave.

Under the Venezuelan constitution, as vice presi-dent Maduro would auto-matically fill in as presi-dent on a temporary basis should Chavez be unable to finish the current term con-cluding in early January.

But the constitution also says that if a president-elect dies before taking office, a new election should be held within 30 days. In the meantime, the president of the National Assembly is to

be in charge of the govern-ment.

Several outside medical experts said that based on Chavez’s account of his con-

dition and his treatment so far, they doubt the cancer can be cured.

Chavez said he hasn’t given up.

Chavez kissing a crucifix during a televised speech from his office at Miraflores Presidential palace in Caracas, Venezuela, on Saturday. Photo: AP

‘Venezuelan President Chavez needs cancer surgery again’

Monday, December 10, 2012

Hamas’s vow to vanquish Israel after claim-

ing “victory” in last month’s Gaza conflict vindicates Israel’s re-luctance to relinquish more land to the Pales-tinians, Prime Minister Benjamin Netanyahu said on Sunday.

Khaled Meshaal, the leader of the Islamist Hamas movement, made a defiant speech before thousands of support-ers in the Gaza Strip on Saturday, promising to take “inch-by-inch” all of modern-day Israel, which he said he would never recognize.

“Over the last day, we have again been ex-posed to the true face of our enemies. They have no intention of compromising with us. They want to destroy our country,” Netanya-hu told his weekly cabi-net meeting.

The Israeli leader has faced fierce foreign criticism this week for announcing a wave of Jewish settlement building in the occu-pied West Bank and East Jerusalem follow-ing a de-facto recogni-tion by the U.N. General Assembly of a Palestin-ian state.

Hamas’ Gaza jubilation proves Israel at risk –Netanyahu

Acting Commander, Infantary Corps, Maj,-Gen. Kenneth Osuji, (left) presenting plaque to Central Africa Republic officer, Lt. Col. Dany Yatangba, at the a graduation ceremony of commanding officers course in Jaji, Kaduna State, yesterday. PHOTO: NAN

Gunmen kill policeman, injure three others in Maiduguri

Why Islam is misunderstood –Tambuwal

250 polio patients undergo corrective surgery in Abuja, Keffi

Shettima expresses satisfaction over Shehu’s palace

PRISCILLA DENNISMINNA

The Vice-Chancellor of Federal Univer-sity of Technol-

ogy Minna (FUTMINNA) Prof. Musibau Adewunmi Akanji, has explained his vision for the development of the school.

Prof. Akanji said he had commenced steps that would assist in moving the institution from its pres-ent 21st position among Nigerian universities to the best university in the nation.

He said: ‘’I want to im-prove on our national ranking and secure Af-rican recognition for the university. My happiness is that with the caliber of the people I met on ground in the university, I believe within the next one year, our ranking will be improved.’’

Akanji, who is the 6th vice-chancellor of the institution, spoke to

journalists in Minna, the Niger State capital, prom-ising to, within the first one year of his five years tenure, propel the insti-tution to international ranking as well as a hub of scholarly distinction.

He also promised to run an open administra-tion where everybody would be carried along before major decisions are taken.

The vice-chancellor said: “I promise to be a listening leader and not a boss.”

FUTMINNA was re-cently adjudged by the National Universities Commission (NUC) as one of the two institutions with A+ ranking among all Nigerian universities.

Prof. Akanji, who hails from Essa Ward, Offa, Kwara State, was born on January 4, 1953 and suc-ceeded Prof. Mohammed Salihu Audu, whose ten-ure ended on November 26, 2012.

INUSA NDAHIMAIDUGURI

Governor Kashim Shettima of Borno State has expressed

satisfaction with the con-struction of the palace be-ing built in Kaduna for the Shehu of Borno, Alhaji Abubakar Garbai El-Kane-mi.

The construction of pal-ace, located at Doka Cres-cent in Kaduna metropolis, started in March this year on the order of Governor Shettima following the ab-sence of a functional pal-ace for the Shehu unlike other traditional rulers in northern Nigeria who have befitting palaces for meetings in Kaduna in line with practices since the days of the late Sardauna of Sokoto, Sir Ahmadu Bello.

AUGUSTINE MADU-WEST KANO

House of Represen-tatives Speaker, Aminu Waziri

Tambuwal has identified lack of understanding of Islamic tenets by a vo-cal minority Muslim as a major challenge con-fronting Islam.

He said at the weekend that religious leaders and traditional rulers must double their efforts to address the challenge for clarity of Islamic te-nets.

Tambuwal said: “The misgivings are promoted by the activities of some Muslim youths.”

Speaking during a prayer organised by the

Tijjaniyya brotherhood at the Emir’s Palace in Kano, Tambuwal said de-spite security and other negative challenges con-fronting the nation, there is still hope of a bright future for the country.

The Speaker said Is-lam, like other religions, encourages peaceful co-existence among the people.

While commending the Emir of Kano, Alhaji Ado Bayero, for organ-ising the annual prayer session, Tambuwal urged religious leaders to inten-sify prayers for the na-tion and its leaders.

He assured that as representatives of the people, lawmakers would always put the interest of Nigerians at heart.

MARCUS FATUNMOLEABUJA

Five days into their mission in Nigeria, 26 Indian doctors who ar-

rived at the country to offer free corrective surgeries for 400 polio patients said they had treated about 250 people.

The exercise holds at two centres namely University of Abuja Teaching Hospital

in Gwagwalada and Federal Medical Centre, Keffi, Na-sarawa State.

Speaking with National Mirror at the University of Abuja Teaching Hospital, leader of the team, Dr Girisi Gune, said the 10-day exer-cise, which was made pos-sible in partnership with Ro-tary International, had been successful.

According to him, some

Nigerian doctors, who par-ticipated in the task, would continue with the exercise for other affected Nigerians after the Indian surgeons had left.

In an interview with jour-nalists at the hospital, Minis-ter of Health, Prof Onyebuchi Chukwu, who participated in the operations, said: “By the end of today, we would have a total of 230 patients that are

being operated on. “If you think of the proce-

dure, it will be well over 300 because some of the patients require more than one pro-cedure. Even the one I was involved in needed at least two procedures. The number of procedure will outweigh the number of patients. We are expecting that by the end of today, 230 would have benefit-ted and over 400 procedures

would have been done. “As at Friday night, they

had done more than 300 proce-dures. There are various types of operations.

Surgical operation involves using physical means such as cutting into the skin, repair-ing tissues and all those things that doctors do in their special room called the Theatre. For each patient, it could be one operation.

My vision for FUTMINNA –VC

INUSA NDAHIMAIDUGURI

Suspected gunmen be-lieved to be members of the Boko Haram

Islamic sect yesterday shot dead a policeman (name withheld) and injured three others in Hausari Ward of Maiduguri, the Borno State capital.

The incident occurred at about 11:am barely 24 hours after some suspected gun-men killed a teacher, Mr. Reuben Malgwi, and three other residents in Polo and Sulemanti wards of Maidu-guri metropolis.

The slain police officer

was patrolling when the gunmen, on a tricycle, am-bushed and shot him in the head before fleeing into the nearby Maiduguri Monday Market (MMM).

Many residents of Hau-sari ward fled the area shortly after the incident.

Traders and other shops owners also abandoned their wares and fled.

One of the residents, who identified himself as Dauda Isa, said: “We don’t know who these gunmen are tar-geting in their selective kill-ings in Maiduguri. There is no day that a policeman, soldier, residents and traders were not killed by these gun-

men. No one is being spared because even a blind man was last Friday shot dead and one of his sons injured in their home on Baga Road.”

Hausari ward, located North of MMM, is one of the flash point residential areas identified by the Joint Task Force (JTF) and the police.

According to JTF sources yesterday, the Boko Haram terrorists, after killing one or two residents, fled into the communities and hide among the people.

The sources said soldiers could not fish them out because of the calamities that may befall innocent residents in an exchange of

gunfire with the armed ter-rorists.

Confirming the incident, the mortuary attendant at University of Maiduguri Teaching Hospital (UMTH) said: “The police brought in a body of one policeman in a Toyota Hilux van this af-ternoon for certification and record.

Speaking on the incident, the Police Public Relations Officer (PPRO) of Borno State Command, Gideon Ji-brin, said he received a report of attacks and killing in the Hausari area of Maiduguri where a policeman was shot dead by suspected gunmen by 11am yesterday.

Shettima, who was in Kaduna to attend the wed-ding of Vice-President Na-madi Sambo’s daughters, left Sultan Bello Mosque immediately after the wed-ding to inspect the project.

Governor Shettima was happy with the construc-tion of the Shehu’s palace, which is about to be com-pleted.

The Governor noted that Kaduna has remained cen-tral to all northern states ever since its days as head-quarters of the Northern Nigerian Government which is why emirs have palaces in the city to host important meetings with their colleagues and other guests as part of their con-tributions to the promotion of peace, mobilisation of citizens towards important campaigns on immuni-sation, back to farm and schools programmes as well as promoting unity in the North and the nation.

Shettima said his admin-istration felt duty bound to demolish the ruined palace and build a befitting struc-ture with guest rooms, liv-ing rooms and offices be-cause of the Shehu’s status.

He believes that with the new palace, the Shehu could host important events and dignitaries to advance courses that will promote and preserve peace.

National Mirrorwww.nationalmirroronline.net Monday, December 10, 2012 51North

Oddities

Woman fi ned for renting shed to homeless

Iran angry as Swedish ambassador crosses legs

A Canadian woman has been fined $500 for renting

out her garden shed out to a homeless couple and their three dogs for $200 a month, officials said.

The woman was warned by the city of Kelowna, British Columbia, two weeks ago that the shed was not suitable for habitation, CBC News reported Friday.

City spokesman, Stephen Fleming, described the small building as “a standard type of metal garden shed that you’d get at your local hardware store. It certainly doesn’t look like a place for people to be living in.”

The woman ran an electric power cord from her house to the shed.

“We didn’t want

anything to happen to the occupants because of where they were living, because it was substandard,” Fleming said.

The homeowner, whose name was not reported, was told she could rent a room in her home to the couple, or they could go to a homeless shelter that has room for their dogs, Fleming said.

The newly appointed Swedish ambassa-dor to Iran appar-

ently upset the Iranian president by crossing his legs, an Iranian website reported.

The offending act came during a meeting after a ceremony in which Swedish ambassador Peter Tejler presented Iranian President Mahmoud Ahmadinejad with his credentials, The Local.se reported.

Iranian website Asriran.com posted photos from the meeting in which Tejler is sitting cross-legged, but in the photos,

Ahmadinejad is also seen crossing his legs.

Armenian website Panorama translated Asriran.com’s report, which explains that sitting cross-legged “contradicts i n t e r n a t i o n a l diplomatic norms.”

“ M a h m o u d Ahmadinejad, for his part, himself crossed

his legs in response to the impoliteness of his interlocutor,” the Asriran.com report said.

The Atlantic Wire, from University of West Florida, said showing the soles of one’s feet is considered offensive in Muslim culture.

“Pointing the soles of the feet towards someone

is impolite because the soles of the feet [shoe] are considered dirty, closest to the ground, closer to the devil and farther away from God. When in the presence of Muslims, be careful not to raise or cross your legs in such a way that the sole of the foot faces others in the room,” The Atlantic Wire said.

A

WITH DR. DEJI FOLUTILE

Today's Tonic (59)“John David Rockefeller made his fortune during the Great

Depression. So did the Kennedy family. Today, we have financial icons like Warren Buffet who are buying up everything in sight. Warren’s motto is simple, “when everyone is greedy, sell, when ev-eryone is scared, buy.”

–T.Harv Eker + + +Life Is As You See ItI have always believed that there is no reality but perception.

Life is as you see it and take it. Life is to you what you think it is to you.

A similar life event will make some people and break another set of people. A lot of positive things can happen for us if we make up our mind to see crisis as opportunity and see disappointments as appointments in disguise.

Life is full of choices. We can go for a positive life in the midst of negativity and despair and prevail or we can be content with the status quo and live a mediocre life.

Many times light is of no use until there is darkness. Yes, these are tough days, but you are tougher. Yes, things are so hazy now, but you are the light of the world and no darkness can bury you!

TEL 08104942999E-MAIL deji.folutile@gmail.comFollow me @TwitterOWOTIDE

FOR YOUR SUCCESS

L-R: Sweden’s Ambassador Peter Tejler and President Mahmoud Ahmadinejad during a meet-ing, recently. PHOTO: PRESSTV

National Mirror www.nationalmirroronline.net52 Monday, December 10, 2012Cocktail

SportNational Mirror

www.nationalmirroronline.net 53Monday, December 10, 2012

54

As far as I am concerned, the favourites of Afcon 2013 fi nals are jittery at the mention of Super Eagles

–Former Nigeria international, Patrick Ekeji

Daystar honours Paralympians

AFOLABI GAMBARI

The uncertainty surround-ing the kick off of the Nigeria Premier League

may be the undoing of the home-based players aspiring to be in-cluded in the finals 23-man list of Super Eagles to the African Na-tions Cup finals in South Africa next month.

Eagles’ Coach, Stephen Keshi, is expected back in Nigeria this week from the USA where he has been holidaying to welcome the home-based players to the national team’s camp that will open on De-cember 17 when the side will com-mence final preparation for the Afcon finals.

The trio of Sunshine Stars’ de-fender, Godfrey Oboabona; Kano Pillars’ midfielder, Reuben Gabri-

el and Warri Wolves goalkeeper, Chigozie Agbim, have enjoyed regular call-ups to the Eagles and have all hoped to be in the South African train. But they have re-mained largely inactive due to the stalling of the NPL new season after a seemingly unending crisis has threatened to put Nigeria’s football in the backwater of Af-rica.

National Mirror learnt last week that the home-based players may have forfeited the chances for spot as the tempo competition for places increases by the day, al-though Keshi is understood to be ready to stick by his principle of blending his team with the home and foreign players.

But Keshi’s preference for Serie B midfielder, Obiorah Nwankwo, may have put Gabriel’s position under threat, as well as the coach’s

reported pursuit of in-form Mill-wall defender, Danny Shittu, may shut Oboabona out of the team.

Meanwhile, spokesman for the Nigeria Football Federation (NFF), Ademola Olajire, has said that Technical Committee is yet to decide against the inclusion of home-based players in the Eagles’ final squad to South Africa, saying only coach Stephen Keshi can take such decision.

“As far the NFF is concerned, the coach has not passed a vote of no confidence on the home lads,” Olajire contended.

The Eagles’ training camp will move to Faro, Portugal on Decem-ber 27 with predominantly home-based players who will be joined by the foreign legion on January 5.

It remains to be seen how many of the home based players would make the trip to Portugal.

FIFA Cup: Aboutrika propels Al-Ahly

Home-based Eagles face AFCON shut out

Kano Pillar’s Reuben Gabriel (right) is among the NPL players facing threats to their Super Eagles’ spots

Mohamed Aboutrika (22) and team mates celebrating Al Ahly victory in Tokyo yesterday

AYC 2013: Flying Eagles, Eaglets know foesAFOLABI GAMBARI

The draws for African Youth Championship in the Un-der-20 and Under-17 catego-

ries were made yesterday by the Confederation of African Football (CAF).

Flying Eagles will face opposi-tion in a tricky Group B of the AYC billed for Algeria compris-ing Mali, Democratic Republic of Congo and Gabon. Host Algeria is in Group A alongside Benin Re-public, Ghana and Egypt.

Golden Eaglets, who pulver-ized opponents in the qualifying rounds, are in a tough group of the championship scheduled for Morocco and will contend with Cote d’Ivoire, Congo Brazzaville and Ghana in Group while host

Morocco will contest with Gabon, Tunisia, Botswana in Group A.

Meanwhile, Eaglets’ Coach, Manu Garba, has said that he will not bother on the strength of his opponents but will prepare his wards ahead of the battles ahead.

“I am confident that we will be ready when the competition starts and I think we have prepared for it, even though the preparation is still ongoing,” Garba told National Mirror yesterday.

Flying Eagles’ Coach, John Obuh, had previously called on the NFF to assist in getting his wards battle-ready for the AYC, although he has penchant for over-relying on foreign-based players.

“I hope the NFF will approve my programme early enough,” Obuh had said.

Substitute midfielder, Mo-hamed Aboutrika, yesterday proved the hero once again

Al-Ahly in the Egyptian club’s FIFA Club World Cup quarter-final in Toyota against Sanfrecce Hiroshima.

The goal was Aboutrika’s fourth goal at a FIFA Club World Cup, levelling him for all-time top-scorer honours with Lionel Messi and Brazilian Denilson.

Aboutrika replaced the injured Hossam Ghaly midway through the first-half and the 34-year-old legend and veteran of four world club finals scored the winning goal in a 2-1 victory for the cham-pion of Africa who now moves on to meet Corinthians, shrugging off his defender and slamming home low and inside the far post from the corner of the area..

A roller-coaster first half be-gan with Sanfrecce’s first-choice goalkeeper Shusaku Nishikawa stretchered off with a facial in-

jury, suffered in a collision with bulky Al-Ahly striker Gedo after only four minutes. Eleven min-utes later, substitute net-minder Takuya Masuda – who didn’t play a single J.League game this term – was helpless to do anything about the CAF champions’ opening goal.

Former Croatian youth inter-national Mihael Mikic rose in the area to head a loose ball down, and Hisato Sato, the Japanese top flight’s leading scorer this year, collected and fired home from a tight angle to level the score. The goal came while Al-Ahly were down to ten men, coach Hossam El Badry hesitating to replace influential former Tottenham Hotspur midfielder Ghaly.

In the first game of the day, Mon-terrey proved too hot to handle for Asian champion Ulsan Hyundai, the former’s 3-1 win setting up a glamour clash with English Pre-mier League champion Chelsea on December 13 in Yokohama.

54 National Mirror www.nationalmirroronline.netSport Monday, December 10, 2012

T/tennis: Director debunks allegations

Golf: Mark hails Glo’s initiative

Honouree, Loveline Obiji

Robin van Persie

Senator David Mark teeing off in Oturkpo, Benue State at the weekend

Red-hot striker Robin van Persie’s injury-time win-ner yesterday sent Man-

chester United six points clear at the top of the Premier League after a stormy derby win against Manchester City at the Etihad Stadium.

Wayne Rooney’s two first-half goals put the leaders in control against the reigning champion but Yaya Toure and Pablo Za-baleta put City level as the game entered its closing moments.

Van Persie then demonstrat-ed his worth with his 14th goal of the season as his free-kick deflected off Samir Nasri and beyond a stretching Joe Hart, ending City’s unbeaten home Premier League run stretching back to a 2-1 defeat by Everton in December 2010.

Mancini had taken a giant leap of faith in selecting Balo-telli ahead of Tevez and it was a decision that was not rewarded.

The Italian striker skied a good chance in some early phas-es of home domination but City were undone by that brilliant counter-attacking opener from Rooney who soon put the sec-ond goal away to compound the host’s woe.

But City came back to busi-ness as Yaya Toure and Pablo Zabaleta leveled score, only for van Persie to snatch the winner.

YEMI OLUS

Technical Director of the Lagos State table tennis team, Mr. John Peters,

has described allegations of bi-ased officiating for Lagos at the National Sports Festival as un-founded.

Team Lagos topped the med-als table at the table tennis event with five gold medals out of the seven that were for grabs at the competition.

The host state won the men and women doubles, men sin-gles, men team event and the mixed doubles. Delta State

which finished in second place took the remaining two gold medals in the women’s team event and women’s singles.

But a number of coaches from opposing states had ex-pressed misgivings at the offi-ciating, arguing that the Lagos players were favoured to win their matches.

“It is very unfortunate when people say things they are not sure of,” Peters said yesterday.

“The truth is that many of these officials are sentimental and are quite ignorant of the rules which must be followed ir-respective of whose ox is gored,” he added.

Senate President, David Mark has said that the Glo Golf Tour possesses

the capacity to change the face of the sport in Africa, even as the leading pros from Ghana maintained their solid hold on the first two positions on the

leaders board at the tour’s final at the Golf and Country Club, St. Mark, Akpegede, Oturkpo, Benue State.

Mark competed with over 70 golfers in the 36-hole amateur event.

Abuja leg winner of the com-

petition, Emos Korblah, play-ing on home turf, whipped up a tour best score of 69 to beat countryman Vincent Torgah, who scored 71 on Saturday, to second place. Korblah now has a combined score of 212 while Torgah has 214.

Sagamu winner , Andrew Odoh moved up the table to the third position after playing 71 to bring his combined score to 218, making him the leading Ni-gerian contender for the crown.

Senator Mark, who spoke after the event, said the tour would help to discover younger talents across Africa.

“We need to catch the play-ers early so that they can sub-sequently grow up to compete favourably with world class players,” he said while com-mending Globacom for comple-menting government’s effort at developing sports in the country.

“I look forward to this com-petition being upgraded from a West African event to an All Africa Golf Tournament next year,” Mark said.

Daystar honours ParalympiansYEMI OLUS

Nigeria’s medal winning Paralympic athletes were honoured over the

weekend during a thanksgiving service held at Daystar Chris-tian Centre, Oregun Lagos.

The athletes were honoured for their performance at the Paralympic Games 2012 which was held in September in Lon-don where the team won six gold, five silver and two bronze medals.

In attendance were all the medalists including Grace Anozie, Loveline Obiji, Yakubu Adesokan, Folashade Oluwa-femiayo, Anthony Ulonnam, Joy Onaolapo, Victoria Nneji, Eucharia Iyaizi, Esther Ony-ema, Lucy Ejike and others.

Senior Pastor of the church, Sam Adeyemi, commended the special athletes and their of-ficials who he said overcame various challenges to make the country proud.

“There are choices you have made in life that could have been

poorer and there are different things you could have done to survive to the point of wasting your talents but you chose the path of discipline and chose to rise over the obstacles that life has thrown at you,” Ad-eyemi said.

“The paralympics you com-peted against people who were born into countries that are dif-ferent from ours, places where they have infrastructure, coun-tries where special attention is paid to people like yourselves. This is a bold message for us, that we should not use our cir-cumstances as excuses to give up in life,” he added as he later feted the athletes and rewarded them with cash awards.

Gold medalist Onaolapo, who spoke on behalf of other ath-letes, expressed gratitude at the church’s gesture.

“This is the first time a church is inviting all of us as a whole for a thanksgiving ser-vice since we returned from London,” Onaolapo said, add-ing, “We feel honoured to be part of this initiative.”

RVP sinks RVP sinks City at homeCity at home

National Mirrorwww.nationalmirroronline.net 55SportMonday, December 10, 2012

SN STATE MEDALS WONGold Silver Bronze TOTAL

1 Delta 116 97 75 288

2 Rivers 76 71 71 218

3 Lagos 64 47 71 182

4 Edo 25 23 44 92

5 Bayelsa 19 17 22 58

6 Ondo 18 12 28 58

7 Ogun 15 22 31 68

8 Cross River 12 14 23 49

9 Oyo 12 13 17 42

10 Akwa Ibom 7 18 19 44

11 Imo 7 14 18 39

12 FCT 7 12 10 29

13 Kano 7 4 12 23

14 Plateau 6 9 18 33

15 Ekiti 5 1 9 15

16 Niger 4 2 5 11

17 Benue 3 5 21 29

18 Bauchi 3 3 7 13

19 Nasarawa 3 3 1 7

20 Ebonyi 3 2 3 8

21 Jigawa 3 0 6 9

22 Kaduna 2 2 7 11

23 Osun 2 1 4 7

24 Abia 1 6 13 20

25 Enugu 1 5 8 14

26 Borno 1 3 5 9

27 Kwara 1 2 9 12

28 Kogi 1 2 3 6

29 Kebbi 1 0 1 2

30 Anambra 0 3 2 5

31 Taraba 0 2 1 3

32 Zamfara 0 2 0 2

33 Yobe 0 1 4 5

34 Adamawa 0 1 3 4

35 Gombe 0 1 2 3

36 Sokoto 0 0 4 4

37 Katsina 0 0 3 3

TOTAL 425 420 580 1425

18TH NATIONAL SPORTS FESTIVALFINAL MEDALS TABLE

Lagos out, Cross River in as sports festival endsYEMI OLUS

The 18th National Sports Festival got to a thrilling end yesterday as the cur-

tains came down on the event which started November 27 in various centres across Lagos State and preparations commenced for the 19th edition to be hosted by Cross River in 2014.

Sports Minister, Bolaji Abdul-lahi, who stood in for President Goodluck Jonathan at the clos-ing ceremony, rated the Eko 2012 games high while commending the Local Organising Committee for what he called a wonderful job that would stand the test of time.

“Commendation must spe-cially go the athletes for their re-silience and the spirit of sports-manship they demonstrated

throughout the festival,” Abdul-lahi said.

“I have been involved with the Nationals Sports Festival right from the 16th edition and I think Lagos has raised the stakes with the near perfection of the or-ganization of the games, as the opening and closing ceremonies remain the talk of the town,” the minister added.

Team Delta finished top of the medals table and was handed the Yakubu Gowon trophy with N20m cash award while Rivers which came second got N15 as host La-gos which came third got N10m.

Popular artistes Wande Coal, Tiwa Savage and Whizkid thrilled the crowd that called for more as the atmosphere was electrified with fireworks that rent the skies in and around the Teslim Balogun Stadium.

Cross River State Commissioner for Sports, Mr. Patrick Ogbe; Minister of Sports Mallam Bolaji Abdulahi; Director General, National Sports Commission, Dr. Patrick Ekeji; Lagos State Governor Babatunde Raji Fashola and his deputy, Mrs. Adejoke Orelope Adefulire during the handing over of the 2014 festival hosting flag to Cross River State

Members of the Lagos State cultural troupe entertaining guests

Chairman of Delta State Sports Commission, Mr. Amaju Pinnick (l) Governor Emmanuel Uduaghan and captain of Team Delta Ruth Izenegu displaying their trophy as the festival’s overall winners

Osun State Governor Rauf Aregbesola (l) presenting a trophy to captain of Team Lagos, Muhammed Babatunde PHOTOS: ADEMOLA AKINLABI

Michael Jegede

Guest Columnist

Vol. 02 No. 509 Monday, December 10, 2012 N150

WORLD RECORDLargest LED 3D TV

Printed and Published by Global Media Mirror Ltd: Head Offi ce: Mirror House, 155/161 Broad Street, Lagos Tel: 07027107407, Abuja Offi ce: NICON Insurance House, Second Floor, Central Business District Area, Abuja Tel: 08070428249, Advert hotline: 01-8446073, Email: mail@nationalmirroronline.net. Editor: SEYI FASUGBA. All correspondence to PMB 10001, Marina, Lagos.

Printed simultaneously in Lagos, Abuja and Ondo State. ISSN 0794-232X.

NFF President, Aminu Maigari

India has dropped three of its most experienced players from the country’s squad ahead of

the fourth and final Test against England in Nagpur.

All-rounder Yuvraj Singh, vet-eran spinner Harbhajan Singh and left-arm seamer Zaheer Khan were axed yesterday following the seven-wicket defeat in Kolkata that

earned England a 2-1 lead in the series.

However, batting all-rounder Ra-vindra Jadeja, leg-spinner Piyush Chawla and paceman Parvinder Awana have been called up as the host attempts to avoid a first home series defeat to England since 1985.

India has been comprehen-sively outplayed since cruising to a nine-wicket win in the opener at Ahmedabad last month, as fi-ery criticism has been directed at coach Duncan Fletcher and cap-tain Mahendra Singh Dhoni, who insisted the players should be held

accountable for their poor perfor-mances rather than the former England coach.

“The coach has excellent tech-nical knowledge about batting, and guides the players in the right direction,” Dhoni defended Fletcher yesterday.

Sport Extra

Cricket: India axes Singh, two others

Printed and Published by Global Media Mirror Ltd: Head Offi ce: Mirror House, 155/161 Broad Street, Lagos Tel: 07027107407, Abuja Offi ce: NICON Insurance House, Second Floor, Central Business District Area, Abuja Tel: 08070428249, Advert hotline: 01-8446073, Email: mail@nationalmirroronline.net. Editor: SEYI FASUGBA. All correspondence to PMB 10001, Marina, Lagos.

Printed simultaneously in Lagos, Abuja and Ondo State. ISSN 0794-232X.

Ajaokuta Steel: Abandoned national treasure The largest LED 3D TV is built by EKTA and provided by Videoforce for Viasat Swe-den’s 3D event in Gothenburg, Sweden, on 28 May 2011. It measures 7.11 m (23 ft 3.92 in) diagonally and the display area is 6.192 m (20 ft 3.78 in) x 3.483 m (11 ft 5.13 in).

The careless abandonment of the Ajaokuta Steel Company (ASCO) by the federal government puts the

issue of the nation’s drive for economic development in sharper perspective. Re-cords show that a whooping $7 billion had been spent on the project before it was abandoned and that only about $1 billion was all that was needed to get the compa-ny firing to roll out the steel. The abandon-ment does not make economic sense.

All over the world, steel development is considered a strategic component of a na-tion’s economic development master plan. The General Olusegun Obasanjo-led mili-tary government developed the template for the Nigeria’s integrated steel devel-opment in 1979. That initial enthusiasm cooled off with time, and now we have found our self in the dilemma of closing our eyes to the numerous benefits from having a sound and robust steel sector.

In October 2002, the secretary general of African Iron and Steel Association (AISA), Dr. Mohammed Sanusi, an expert in iron and steel matters, had in a paper

observed that there was the need to have a sound industrial base for industrializa-tion to occur. He added: “This will provide the solid foundation on which the indus-trial super-structure will be built. This industrial base is nothing other than a well-developed iron and steel industry that will be producing such critical indus-trial raw materials as cast iron (different categories); rods and bars (both high ten-sile and mild steel varieties); wires (in all its ramifications); structural steels (light, medium and heavy structural); flat sheet steels (plain and galvanized, and also the entire spectrum classified as flats); stain-less and other special alloy steels; rails and pipes; plates (various sizes in width and thickness)”.

For Sanusi, it is only governments that could provide the initial funds in view of the high capital costs and the long ges-tation period of steel projects. This, he noted, was the trend worldwide where all pioneer steel industries and accompa-nying infrastructures of any nation, are public-owned.

Explaining further, the expert had said: “It is after several such facilities are available and have proven themselves in a country, the industry is privatized to allow the government to move on to other strate-gic areas of development. This is how to-day’s industrialized nations became what they are.

“Taking cognizance of the above, many third world countries followed suit and have been able to shift their economies away from third world poverty and starva-

tion, and seriously threatening the devel-oped countries of the world in economic wellbeing for their people”.

He mentioned India, South Korea, Pak-istan, Egypt, Iran, Iraq, Algeria, Libya, Turkey, Venezuela, Indonesia, Singapore, Malaysia and Mexico, as examples of such countries, saying that the steel projects in all these countries started as serious na-tional projects with their governments as sole financiers.

Pandit Jawaharlal Nehru (1889-1964), first Prime Minster of India, who worked with Mahatma Gandhi to win indepen-dence for that sub continent, called the giant steel structures in Bhilai, Durgapur and Ruerkela in the late 1950s, the “tem-ples of modern India”. Nehru must have made that pronouncement to demonstrate how much value and importance he at-tached to steel development.

Saudi Arabia, Algeria, Libya, Venezu-ela, Indonesia and Mexico are oil produc-ing countries with excellent oil reserves. Yet, they deemed it fit to also develop vi-able steel industries. In Nigeria, we have continued to depend solely on oil, refus-

ing to diversify our economy. Even though we have other numerous non-oil natural resources at our disposal, we choose to remain a monolithic economy. This obses-sion, as it were, has made our economy to be susceptible to external manipulations, a development that negatively affects our economic planning.

When Senator Nurudeen Abatemi-Us-man, an accomplished professional with a wide range of experience in engineer-ing, agriculture and management consul-tancy, visited ASCO and National Iron Ore Mining Company (NIOMCO), Itakpe last year to assess the facilities on ground, he argued that with proper development, the steel sector could conveniently rival the oil sector. In fact, the senator representing Kogi Central (where ASCO and NIOMCO are located) in the Senate, said he would not go to sleep until the project fully be-came a reality.

He had pointed out that “Nigeria, for the past nine years, has spent over N2.1 trillion to import steel into the country. This shows that the country would have saved a lot of money if the Ajaokuta Steel Company was working. So, Ajaokuta Steel project is a must-do deal.”

Nigeria owes the initial impetus for development of a robust iron and steel industry to General Obasanjo, who upon the discovery of good grade iron ore de-posit in Itakpe in 1973, set in motion the process that led to the signing in 1975 of a contract with Messrs Tiajpromexport (TPE) of old USSR to build an integrated steel plant of 1.3 million tonnes of long products to be immediately expanded to 2.6 million tonnes in flat products while the third phase would have raised the an-nual production to 5.2 million tonnes. The first phase was to be completed in 1981 and the third phase in 1986.

To be continued

Jegede, a media practitioner, wrote in from Abuja

IN NIGERIA, WE HAVE CONTINUED

TO DEPEND SOLELY ON OIL, REFUSING TO DIVERSIFY OUR

ECONOMY

Yuvraj Singh