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

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

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Monday 7 May, 2018
Vol 22. No 8418. Price: N250

www.thisdaylive.com
TR N
UT H
& RE A S O

APC Asks Aggrieved Members to File Appeal After Marred Congresses

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

Unidentified Gunmen Kill 45 in Kaduna

John Shiklam in Kaduna
It was yet again another day
of tears and sorrow at Gwaska
village in Birnin Gwari Local
Government Area of Kaduna
State, after the community was
attacked by unidentified armed
bandits on Saturday, leading
to the deaths of 45 residents
and several injured.
The incident was said to
have occurred at 2:30 a.m. and
happened barely 48 hours after
the Inspector General of Police,
Mr. Ibrahim Idris and the
General Officer Commanding
(GOC), 1 Division, Nigerian
Army, Kaduna, Maj. Gen.
Mohammed Mohammed had
visited Birnin Gwari.
The IG had during the visit
ordered for the immediate
deployment of an additional
200 policemen in Birnin Gwari
to tackle the continuing raids
by armed bandits who have
been killing, kidnapping and
robbing people in the area.
A source within the Birnin
Gwari Vanguard for Security
and Good Governance, who
pleaded anonymity, said
the gunmen came from
neighbouring Zamfara State.
“The armed bandits came
from neighbouring Zamfara
State and encircled Gwaska up
to neighbouring Kuiga village
shooting sporadically.”
The source said most of
those killed were those that
tried to fight back, including
women and children who
could not escape.
He added that several
people were injured during
the invasion and were taken to
a hospital in the Doka district.
“We will continue to appeal
to the authorities to take
urgent steps to forestall further
attacks and the extinction of
communities in Birnin Gwari
Local Government Area,” he
said.
A combined team of
Nigerian troops and members
of the local vigilante group
were said to have rushed to
the village when the incident
occurred, but by the time they
arrived the community, the
bandits had fled.
The vigilante group source
said: “We were in Gwaska
together with the military around
7 p.m., but the commander asked
the soldiers to retreat because
it was getting dark.”
He said several people
were still missing, adding that
DOGARA SHOWS RANCHING CAN WORK…
Continued on page 10 Speaker of the House of Representatives, Hon. Yakubu Dogara, inspecting livestock at his farm at the weekend
2 T H I S D AY MONDAY MAY 7, 2018
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8 MONDAY, MAY 7, 2018 ˾
T H I S D AY
PAGE EIGHT
M A I N TA I N I N G M A R K E T D O M I N A N C E, TI ER 1 BA N KS W I D EN GA P W I TH TI ER 2 LENDERS
total assets of the tier 2 lenders
stood at N12.276 trillion during
the same period.
In 2016, the total assets of
the five tier 1 banks stood at
N19.581 trillion while those
of the six smaller lenders
accounted for N11.083 trillion
of total assets in the same
period.
Also, while the 11 banks
realised combined gross
earnings of N4.205 trillion in
2017, up from N3.515 trillion
from the previous year, the five
A P C AS KS AG G R I E V E D M E M B E R S TO F I L E A P P E A L A F T E R M A R R E D C O N G R E S S E S
by suspected thugs owing to the
alleged irregularities that dogged
the exercise.
Some agents working for other
aspirants had accused the former
governor of the state and Minister
of Mines and Steel Development,
Dr. Kayode Fayemi of colluding
with the security agencies and
members of the Governor Tanko
Al-Makura-led primary committee
to skew the outcome of the
primary in favour of the minister.
This came as the Kayode
Fayemi Campaign Organisation
threatened to sue the party if the
results of the inconclusive Ekiti
primary are annulled.
Stepping into the imbroglio,
however, the state governor,
Ayodele Fayose of the Peoples
Democratic Party (PDP) warned
the opposition in his state not to
turn Ekiti into a war zone, given
the violence already displayed
by APC members during the
primary.
The APC last Saturday had
organised ward congresses in 33
states of the federation and the
Federal Capital Territory (FCT).
While the exercise was hitch-free
in a few states, there were protests
and incidents of violence in many
others, resulting in deaths in Rivers
and Delta States on the eve of
the congresses and on Saturday,
respectively.
But in a statement issued
yesterday by the party’s
National Publicity Secretary,
Bolaji Abdullahi, APC hailed the
congresses, describing them as
“highly successful”.
“APC wishes to congratulate
all its members for the generally
peaceful conduct of the party’s
ward congresses which took
place across the country over
the weekend.
“The party especially
commends members who served
in the congress committees for
their dedication and impartiality.
“We, however, acknowledge
there were some issues arising
from the conduct of the elections
in some states.
“With this in view, the party
had set up various appeal
committees which will begin
sitting from Monday, May 7, 2018.
“We, therefore, call on all party
members to remain law-abiding
and where there are issues, they
should seek redress through
the appeal committees in their
respective states,” the party said.
The APC also directed that
its primary for Ekiti State
governorship ticket should
continue from where it stopped
on Saturday.
The national leadership of the
APC said that it had resolved the
“issues and that the election can
now proceed”.
Another statement by Abdullahi
yesterday said the primary election
committee had been asked to go
back and complete the exercise.
The party said the exercise
should be completed as soon
as possible but did not give a
date for the resumption of the
primary.
The APC statement read: “The
situation in Ekiti is regrettable. The
issues have been resolved and
it is our hope that the exercise
can now continue from where
it stopped.
tier 1 banks alone accounted
for N2.681 trillion or 64 per
cent of total earnings in 2017,
as against the N2.200 trillion
recorded in 2016.
But in the year under review,
the above-mentioned tier 2
banks reported gross earnings
of N1.525 trillion (36%) in 2017,
higher than the N1.316 trillion
in 2016.
Findings also showed that
total loans and advances of
the 11 banks whose results
were reviewed stood at
“The primary election chairman
has spoken to the national
chairman after consulting with
the aspirants.
“The position is that the process
should resume as quickly as
possible. The issue of indefinite
postponement does not arise,”
the party said.
27 Aspirants Kick
But the statement by the APC
contrasted sharply with several
of the aspirants, as 27 of the 33
governorship aspirants in Ekiti
State yesterday called for the
disbandment of the Al-Makura-led
committee, alleging open bias
and incompetence exhibited in
the conduct of the suspended
election in the state.
The aspirants posited that
the shoddy way the committee
handled the primary was what
led to the violence that marred
the exercise on Saturday.
In a communiqué issued and
read by one of the aspirants,
Dr. Mojisola Yaya-Kolade, after
a marathon meeting, the 27
aspirants expressed regret over
the unfortunate incident that led
to the protest and subsequent
disruption of the primary.
They alleged that members of
the primary committee, headed
by the Nasarawa State governor,
Al-Makura, had compromised the
integrity of the poll, noting that
this had invalidated its outcome.
The aggrieved aspirants alleged
that they noticed lopsidedness and
bias on the part of the committee
members, and called on the
national leadership to smoothen
all rough edges for the poll to be
re-conducted.
“We want the committee to be
disbanded completely and our
National Working Committee
should set up a new committee
to conduct another primary that
will meet international standards,”
the aggrieved aspirants said.
The also claimed that many of
those on the panel for the conduct
of the primary were friends of
a particular aspirant, who they
failed to name, adding that this
could vitiate the outcome of the
election.
“We are determined to win the
Ekiti governorship election, but
the right thing must be done for a
candidate that will command the
respect of everybody to emerge,”
they added.
They suggested that the fresh
primary should be conducted
in an enclosed environment to
prevent natural occurrences like
rain from disrupting the process
as witnessed on Saturday.
“Apart from that, no aspirant
should have more than one agent
because many of those who gained
entry under the guise of being
agents to some aspirants were
used to perpetrate evil,” they
stressed.
Also, the state chairman
of the APC, Chief Jide Awe,
called for the annulment of
the suspended primary, saying:
“There is no way you can conduct
a primary without allowing the
State Executive Council having
a say in the process.
“The aspirants were not happy.
There are a lot of lessons to learn
from the process as a party.
“One of the cardinal principles
N14.665 trillion in 2017, slightly
higher than the N14.528 trillion
recorded in the previous year.
Just like other indicators, the
five tier 1 banks gave out
63 per cent of the loans and
advances as they accounted
for N9.197 trillion in 2017,
lower than that of N9.277
trillion in 2016.
However, the tier 2 banks in
all gave out N5.468 trillion in
2017, higher than the N5.251
trillion recorded in 2016.
Similarly, while total
of a free and fair election is for
the electorate not to have doubt.
When a system is doubted in
an election it becomes invalid.
“When a system is disrupted,
it becomes invalid. An invalid
primary cannot produce a valid
candidate. We want to have a
credible election so that the
electorate will be able to vote
for us at the main election.
“With what happened,
we believe sincerely that the
committee was culpable and
the security agencies were
compromised. So the thugs
that disrupted the election, it
was some people that allowed
them in,” he said.
Fayemi Threatens Law
Suit
But even as the party moved
to resolve its fractured ward
congresses and go ahead with
the Ekiti gubernatorial primary,
the Kayode Fayemi Campaign
Organisation earlier yesterday
threatened to sue the APC if
the results of the inconclusive
Ekiti governorship primary are
annulled.
Addressing journalists in Ado
Ekiti yesterday, Fayemi’s agent,
Mr. Samuel Abejide, said five
local government councils had
voted before the uprising that led
to the abrupt suspension of the
exercise, saying the results from
the local government areas were
valid in the face of the law and
the Electoral Act.
Naming them, he said the
elections in Ekiti East, Moba,
Ilejemeje, Ado and Ijero Local
Governments had been concluded
when the primary was disrupted.
Other delegates, who expressed
their preparedness to sue the party
at the press conference included
Dada Sunday Ebenezer, Emmanuel
Adekunle and Jimoh Azeez.
They said the party owed them
a duty to protect the rights of its
members, noting that their voting
rights should not be an exception
in this case.
Abejide also accused the security
agencies of being compromised,
wondering why the perpetrators
of the violence that took place
were allowed to go scot-free in
the presence of more than 200
security forces deployed for the
primary.
Fayemi’s agent also denied
allegations that the Al-Makura-led
committee had apportioned more
than the required number of agents
to the minister to the detriment of
other contestants, saying this was
not possible under the structures
put in place at the venue.
“We believe the process of the
election was free, fair and credible
and that is why the results should
be sustained.
“If they knew that they were
leading, why should they ask for
cancellation?” he asked.
Reinforcing the position
canvassed by Abejide, Azeez
stated that it would amount to
an abridgement of the rights of
voters if the results from the
primary were annulled.
“I am a delegate of the APC
and I voted during the election.
The process in those mentioned
local governments was free and
fair, so I don’t expect the party
to annul it.
customer deposits of the
11 banks stood at N21.132
trillion in 2017, higher than the
N19.644 trillion they realised in
the previous year, at N13.321
trillion, the five tier 1 banks
accounted for 63 per cent of
total customer deposits.
The tier two banks, on the
other hand, posted combined
customer deposits of N7.810
trillion or 37 per cent in 2017,
higher than N6.996 trillion in
the previous year.
In the same vein, of a total
“Should the party go ahead
and do that, I will not hesitate
to go to court to seek redress,”
Azeez stated.
Oyegun’s Integrity at
Stake
Also reacting to the outcome
of the primary, former Ekiti State
governor
Segun Oni yesterday, called on
the national chairman of the party,
Chief John Odigie-Oyegun and
the National Working Committee
(NWC) to investigate the errors
that led to the inconclusive
primary.
Oni, former APC national
deputy chairman (south) and
governorship aspirant of the party,
said the way some people who
were discovered to be friends of a
particular aspirant were nominated
to the primary committee, calls
to question the integrity of the
party’s national leadership.
Oni spoke in Ifaki, Ekiti
yesterday while reacting to the
violence that marred the APC
governorship primary.
Oni, however, saluted Al-
Makura for doing a thorough job
only for his efforts to be allegedly
sabotaged by unscrupulous
elements around him.
He described the violence as
very unfortunate, insisting that
Oyegun must investigate how the
secretary of the committee, Hon.
Mogaji Aliyu, a known ally of
one of the aspirants, was made
a member of the panel.
Like the aggrieved 27 aspirant,
Oni did not name the favoured
aspirant.
“Those who have a penchant
for cheating and fraud structured
the primary to favour a particular
aspirant. I was the APC national
deputy chairman for four years,
despite that I never used my
position to influence anything
about a primary I was directly
involved in.
“When you have a penchant
for fraud or cheating the system,
it makes democracy looks sour
and uninteresting.
“How would one feel to get
to the field of play and find out
that the referee was nominated by
one of the teams? We found out
that the secretary of the committee
was nominated by an aspirant,
and Governor Al-Makura later
got to know about this and
dropped him from functioning
as the returning officer.
“Even the fraud permeated the
ranks of the security agencies. I
quite appreciate the fact that
violence was not the right way,
but it was caused by the pent-up
anger.
“That is why the NWC led by
Chief Oyegun owes all of us a
thorough explanation on how
Mogaji found himself on the
committee and how to prevent
such in the future, except we are
hiding under democracy to fool
ourselves.
“Whether I will be governor or
not or hold political office in the
future, I think enough is enough
with respect to the desperation by
people to get to certain positions,
because we must give confidence
to our people,” he said.
When asked whether a
consensus will be a better option,
of N838.719 billion posted as
profit before tax (PBT) by the
11 banks in their combined full
year 2017 results, higher than
the N633.286 billion recorded
in the previous year, the five
tier 1 banks accounted for 77
per cent or N645.864 billion of
the PBT they made in 2017, up
from N525.813 billion in 2016.
The PBT of the six tier 1
bank in the year under review,
however, stood at N192.855
billion, up from N107.473
billion in 2016.
Oni said he supported the idea
but it would be difficult to achieve
given the current fierce rivalry
among the aspirants.
“I support consensus but that
is now impossible because the
perception of the society makes
it difficult for politicians to reach
a compromise.
“Politicians are always under
pressure from their admirers, so
announcing to them that you have
stepped down for someone else
could create a bad impression for
you. It will be difficult to achieve
at this level,” he noted.
Meanwhile, Fayemi and
Senator Babafemi Ojudu,
another APC aspirant exchanged
barbs yesterday over who was
responsible for the disruption of
the primary.
While Fayemi accused Ojudu
and Hon. Bimbo Daramola of
being the masterminds behind
the violence that caused the
suspension of the primary, Ojudu
said the former governor was too
desperate to get the ticket, saying
his antics would fail this time.
A statement yesterday by
Fayemi’s media aide, Yinka
Oyebode claimed that the
disruption of the primary election
was the height of desperation on
the part of some aspirants, who
having seen defeat staring them
in the face, conspired together to
ensure that the exercise was not
concluded.
The minister was quoted in the
statement to have said that the
aspirants had resorted to violence
and destruction, having realised
that he was already in a clear
lead in the five local government
areas that had cast their votes.
“If the quest for a political
position is to serve, then one
wonders why the desperation
being displayed by the likes
of Femi Ojudu and Bimbo
Daramola.”
But Ojudu dispelled the
allegation, describing it as a
spurious and senseless accusation
coming from those that were
averse to democratic ideals.
Addressing journalists in Ado
Ekiti on the issue, Ojudu clarified
that he was not desperate and that
accounted for why he did not go
to the election venue with party
supporters, saying: “I even hate
seeing thugs around me.
“They said I was desperate, let
us ask ourselves, who among the
aspirants took delegates to Igbara
Oke and Owo in Ondo State to
camp? It was Fayemi. He was
the one who compromised the
committee and bought over the
security agencies to compromise
the process.
“I brought him to Ekiti, I did
a lot for him to be governor, so
I have always known him to be
desperate and we were getting
video clips on how he offered
bribes to delegates and how he
was making calls at the election
venue to the top security brass
in Ekiti and Abuja to cheat the
system.
“Let me tell him, all these antics
will not work. The primary will
be conducted and it must be free,
fair and credible,” he said.
But even as the APC
governorship aspirants engaged in
a blame game over the suspended
primary, the state governor
yesterday said what was witnessed
Managing Director, Afrinvest
Securities Limited, Mr. Ayodeji
Ebo, attributed the yawning
gap between the tier 1 banks
and tier 2 banks to the fact
that the bigger Nigerian
lenders have been riding on
economies of scale and larger
branch networks.
“Because of these, the tier 1
banks have been squeezing out
their tier 2 counterparts. What
the latter can do is to ride on
technology to improve their
market share,” he explained.
was a show of shame.
Fayose warned the APC in
his state not to turn Ekiti into
a war zone, given the violence
displayed by its members during
the primary.
He expressed concern that the
APC could replicate the violence
on July 14 during the governorship
election.
According to Fayose, “It is
a sad day for democracy in
Nigeria, especially from a party
in government that prides itself
as progressive.
“It is a clear indication that APC
will fail woefully in the July 14
governorship election because
apart from its rejection by Ekiti
people, the party has become a
house divided against itself, its
centre can never hold.”
Fayose, in a statement he
personally signed, also said:
“We thought that we have gone
beyond the era of ballot box
stuffing and snatching as well
as violence and killings during
elections until yesterday’s show
of shame.
“This development should be of
great concern to all well-meaning
Nigerians as we approach the Ekiti
and Osun governorship elections
as well as the 2019 elections.
“Another worrisome
development is the information
at my disposal that the APC
is plotting to sponsor thugs
to disrupt the PDP primary
election scheduled for Tuesday,
May 8, 2018, so as to create
the impression that violence is
common to all political parties.
“I, therefore, call on the
security agencies to act decisively
to nip this sinister plan in the
bud. The police should not shy
away from its responsibilities.
“Ekiti was adjudged by the
police as the most peaceful state
in Nigeria, it must remain so.
“In the last three years, our
state has been peaceful and never
witnessed any sponsored political
violence or killings until this
APC desperation set in.
“I also call on Nigerians, as well
as the international community
to focus their attention on Ekiti
State from now on. Ekiti people
must be allowed to choose their
next governor under a free and
fair atmosphere,” he stated.
TOP GAINERS NGN NGN %
SEPLAT 35.10 737.10 5.0
FBNHOLDINGS 0.60 12.85 4.9
COURTVILLE 0.01 0.22 4.7
FCMB 0.11 2.51 4.5
WEMABANK 0.04 0.94 4.4
TOP LOSERS NGN NGN %
GSK 2.90 30.30 8.7
DOUBLE11 9.00 172.00 4.7
C & I LEASING 0.07 1.34 4.9
FLOURMILLS 1.80 35.20 4.8
LIVESTOCKFEEDS 0.04 0.83 4.6
HPE Nestle Nig Plc ₦ 1,422.50
Volume: 242.291 million shares
Value: N3.027 billion
Deals: 5,746
As at 4/5/18
See details on Page 35
T H I S D AY MONDAY MAY 7, 2018 9
10
PAGE TEN
Many Wins of Buhari‘s US Visit
Last week’s bilateral meetings between President Muhammadu Buhari and US President
Donald Trump at the White House, including Buhari’s meetings with top executives of some
US companies, got a lot of wins for Nigeria. Tokunbo Adedoja writes
For the better part of last week,
global media focus was on
Nigeria as United States President
Donald Trump hosted President
Muhammadu Buhari in the
White House. Buhari’s visit to
the White House, the first by any
sub-Saharan Africa leader since
President Trump assumed office
over a year ago, enjoyed days of
media blitz. Expectedly, the keen
interest in Buhari’s visit among
U.S. media outlets was somewhat
tied to the alleged vulgar remark
made by Trump a few months
earlier about African countries.
From the preview of his
arrival in the U.S. to the joint
press conference in the Rose
Garden, coupled with the warm
handshake by both leaders and
that remarkable photo opportunity
with Trump grinning and leaning
over Buhari’s shoulder while
(Buhari) was signing the visitor’s
book in the Oval Office, images
and clips of the visit went viral
on the internet.
The reports, images and video
clips of the leader of the free world
and the largest economy with
the leader of Africa’s biggest
democracy and its biggest
economy sent an unambiguous
message about the strategic
partnership between Nigeria
and the U.S.
A week after the visit,
the media have not stopped
appraising Buhari’s engagements
in Washington. The common
thread in all the reports was
the conclusion that he returned
home with a basket full of wins
for Nigeria.
Prior to the visit, both the
White House and Nigerian State
House had released statements
on issues that would come up for
discussion. The statements listed
security, trade and governance as
key focal points of the bilateral
talks. These issues were discussed
at the meeting between the two
presidents in the Oval Office, at
the working lunch of 1+10 on
each side at the White House,
and emphasised at their joint
press conference.
Investment and financing
opportunities were also explored
at the meetings Buhari held with
top executives of some U.S.
companies at the Blair House
where he stayed during the visit.
The round-table discussions
provided the opportunity for
top Nigerian companies and
business leaders to interface with
top executives of U.S. companies,
where Nigerian policymakers, led
by the president, were seated.
There couldn’t have been a
better demonstration of Nigeria’s
commitment to the investment
talks.
UNIDENTIFIED GUNMEN KILL 45 IN KADUNA
arrangements were being made
to evacuate more people who
had sustained injuries from
gunshots.
When contacted, the
spokesman of the Kaduna
State Police Command, Aliyu
Mukhtar, said in a text message
that he “will get the details and
get back”.
Speaking on the latest attack
Even before their departure
from the U.S., members of
the Nigerian delegation were
confident that the engagements
they had were fruitful and
beneficial. They were of the view
that they got all they wanted.
“It was a good meeting and
it’s a win-win for both Nigeria
and the U.S. There were a lot of
wins,” Foreign Affairs Minister
Geoffrey Onyeama enthused.
“Today has been a good day for
the United States and it’s actually
a good day for Nigeria,” Industry,
Trade & Investment Minister
Ikechukwu Enelamah said,
adding that in those meetings,
“businesses were literally striking
deals”.
One of such business deals was
struck two days before the arrival
of Buhari in Washington. It was
a deal with the GE Consortium,
comprising SiniHydro, Transnet
and APM Terminals for the
interim phase of the Nigerian
narrow-gauge railway concession.
That interim agreement would
last for 12 months during which
remedial works will be carried out
on part of the narrow-gauge rail
line system to make it technically
and economically operable. A joint
operation will also be established
between the consortium and the
Nigeria Railway Corporation with
an initial supply of 10 locomotives
and 200 wagons.
The second phase will revamp
the existing rail network and
build new ones. The first phase
is valued at over $40 million while
the second phase is $2billion.
There were also several
expressions of interest in investing
in Nigeria at the meetings
held at the Blair House with
top executives of some U.S.
companies, including those in
agro-businesses. For example,
John Deere - a U.S. company
that manufactures agricultural,
construction, and forestry
machinery - was said to be
looking into assembling and
supplying tractors in Nigeria. It
will start with a few hundred, then
thousands and its full expression,
it is expected to exceed 10,000
tractors.
Another major win for Nigeria
was the unambiguous expression
of support for the battle against
terrorism without preconditions.
Efforts by Nigeria in the past to
get military hardware from the
US had met with several hurdles
involving allegations of human
rights abuses and lack of corporate
governance.
Though prior to the visit,
Nigeria had secured America’s
nod to purchase 12 Super Tucano
aircraft for deployment in the
ongoing counter-insurgency and
on Birnin Gwari, the Kaduna
State governor, Mallam Nasir
el-Rufai commiserated with its
residents over the killings.
He disclosed that the security
challenges facing the area would
soon be over as a permanent
battalion of the Nigerian Army
and a Police Area Command will
be established in Birnin Gwari.
The governor said President
President Muhammadu Buhari (middle) chairs a meeting between top U.S. company executives (sitting on the right) and the
Nigerian delegation (on the left) at the Blair House, Washington D.C... last week
anti-terrorism campaign and had
even partly paid for the aircraft,
the meeting between Buhari and
Trump erased fears that it was
a one-off deal.
Trump emphatically stated,
in response to a question on
how soon those aircraft would
be delivered, that those reasons
that denied Nigeria access to
such military hardware were
not tenable.
“Part of the problem is you
weren’t allowed to buy helicopters
in our country and now you are.
I worked that out so that now
you can buy the helicopters that
you want.
“They weren’t allowed to
buy the helicopters for various
reasons, which frankly weren’t
good reasons. Now they get them,
and they get them very quickly,
and they are the best helicopters
in the world.
“We are also helping our
Nigerian partners by facilitating
intelligence cooperation and
providing training and military
equipment to Nigerian forces.
For example, we recently sold
to Nigeria 12 US A-29 Super
Tucano aircraft, great aircraft, in
the first-ever sale of American
military equipment to Nigeria,”
Trump said.
Trump’s acknowledgement of
the effort to redeem Nigeria’s
“massive reputation of corruption”
through the current anti-corruption
crusade, which had been faulted
severally by critics as a witch-hunt
and one-sided, was a big win
for Buhari.
Coming at a time when there
were allegations of selective
application of his anti-corruption
crusade, the thumb’s up from
Trump will be a talking point
for the regime as it approaches
the 2019 election.
Buhari’s visit to Washington
Muhammadu Buhari has already
given approval to that effect.
In a statement by Samuel
Aruwan, his spokesman, el-Rufai
said the police IG had already
approved the establishment
of the Police Area Command
and two new Divisional Police
Headquarters in Birnin Gwari.
The statement said in part:
“The state government received
also raised the possibility of
Trump visiting Nigeria “soon”.
At the joint press conference with
Buhari, Trump said he would love
to visit Nigeria, although he did
not provide specific timelines. A
visit by the U.S. president places
the country visited under global
media attention. If Trump does,
then he will be the first U.S.
president to visit Nigeria in a
decade.
Foreign Affairs Minister
Onyeama noted that presidents’
schedules were usually tight and
that it could take a year to plan
such visits. He, however, said:
“Maybe sometime next year
we could envisage something
like that.”
The United States got its own
wins, so did President Trump.
One of such wins was the call
for the removal of trade barriers
which has now been brought to
the front-burner of discourse
between the two countries. The
balance of trade between Nigeria
and the U.S. shows Nigeria has a
bigger balance sheet, but that is
because of Nigeria’s oil exports
to the U.S.
Trump canvassed for the
removal of trade barriers that
affect U.S. agriculture produce,
but that could also aid Nigeria’s
agriculture exports. Nigeria does
not seem to be averse to Trump’s
call. Industry, Trade & Investment
minister said: “The important
thing is that the balance of trade
should grow on both sides and it
should be a win-win. And that is
exactly what will happen based
on what we see today.”
Former U.S. Ambassador to
Nigeria, John Campbell, said
Buhari’s visit to Washington
was a small win for Trump.
He said Buhari’s response to a
question on Trump’s derisive
description of some African
with sadness reports of the
murder of our citizens by armed
bandits in Birnin Gwari.
“The Kaduna State
Government is deeply committed
to overcoming the unfortunate
criminality and banditry being
carried out against innocent
citizens in Birnin Gwari Local
Government Area.
“The engagements
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T H I S D AY
countries as “shithole countries”
took that issue off the table and
provided a venue for Trump to
appeal to his own political base,
with his remarks on the killing
of Christians by Islamist groups
and the call for the removal of
trade barriers, which his business
friends in America would want
to hear.
“Among other things, Buhari’s
visit may have at least partly
defanged criticism of Trump that
he is racist vis-à-vis his alleged
derogatory remarks about Africa.
However, the Buhari visit is likely
to have only a limited impact
on American domestic politics
in the run-up to the mid-terms
in November,” the former U.S
envoy said.
Campbell further noted: “For
Buhari, the trip was a win in
ways that are more concrete.
President Trump reaffirmed
Nigeria’s regional leadership role,
promised security cooperation,
and promised that the attorneys
general of the two countries are
looking for ways to return stolen
Nigerian funds, estimated at $500
million, parked in the United
States.”
In the Nigerian government
circles, optimism about
concretising the outcomes of the
bilateral meetings is high. This
is because the engagements in
Washington had the fundamental
ingredients required for
successful outcomes.
Drawing from his experience
of engagements with nations
and businesses as trade and
investment minister for close
to three years, Enelamah posited
that economic cooperation
requires working at it from three
levels, and those three levels
must click for cooperation to
go far.
He listed the three levels as
between the state and federal
governments have yielded
results. President Muhammadu
Buhari has approved the
establishment of a permanent
battalion of the Nigerian Army
in the Birnin Gwari general area.
“The new security
arrangements also involve
policing. The Inspector General
of Police has already announced
a government to government
cooperation; government to
business cooperation; and
business to business cooperation.
“At this particular meeting,
the government to government
level involved not only the
two presidents meeting but
also cabinet members were
there,” he noted, adding that
for the government to business
level, President Buhari met with
various businesses and had
very productive and engaging
discussions with them.
“I think the necessary thing
now is follow-ups. We stay
engaged and build on what we
know to be a good relationship
between Nigeria and the U.S.
I think what happened just
underscored it and we will not
take it for granted,” Enelamah
said.
Already, follow-up meetings
have commenced. Attorney
General Abubakar Malami
met with his U.S. counterpart
Jeff Sessions last Tuesday
in Washington to work out
modalities for the return of
Nigeria’s stolen money. Those
discussions are expected to
culminate in the repatriation of
over $500 million stolen from
Nigeria and stashed in banks
in various jurisdictions.
In a couple of weeks,
Enelamah will also be meeting
with U.S. Secretary of Commerce
Wilbur Ross to look at the
commercial and investment
dialogue in details. The call for
the removal of trade barriers
would be part of the discussions.
More of such follow-up
meetings will hold on other
issues discussed in the bilateral
meetings in the coming weeks
and months to fully concretise
the outcomes of the bilateral
talks.
the creation of the Birnin Gwari
Police Area Command and
two new Divisional Police
Headquarters.
“The State Emergency
Management Agency (SEMA)
has also been directed to
provide relief materials with
immediate effect to the affected
communities,” the governor
said.
T H I S D AY MONDAY MAY 7, 2018 11
12 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 13
16 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 17
18
POLITICS
Buhari Alone Isn’t the Problem
Though there is enough proof to justify the claim that President Muhammadu
Buhari has fallen short of expectations, the challenge of transforming Nigeria goes
beyond the president, write Tobi Soniyi, Segun James and Shola Oyeyipo
President Muhammadu Buhari
M
any are disappointed today
because the president,
Muhammadu Buhari
has not been able to
transform Nigeria into
a new country where
everything suddenly becomes functional.
Nigerians expected so much from the
president. His party, the All Progressives
Congress promised so much and is deliver-
ing so little to the disappointment of many.
As 2019 general election approaches, we
are beginning to make the same mistakes.
We are hoping that whoever becomes
president should be able to correct all
the structural imbalances afflicting the
country. But the bitter truth is that this
is not going to happen.
The best we can get is some opaque
tinkering with the existing structures
which will not fundamentally change
the country.
So, we should begin to lower our
expectations.
Just like the president, we all have our
fair share of the problem.
Buhari Is a Problem
But the president is a problem for many
reasons. No doubt, a president is in a
vantage position to steer the ship of the
country to eldorado. And from the look
of things, this president isn’t doing that.
Just like his predecessors, and Nigerian
past leaders, Buhari is turning out to be
a disappointment.
This much was stated by Nigerian
foremost novelist, Professor Chinua Achebe
when he wrote: “The trouble with Nigeria is
simply and squarely a failure of leadership.
There is nothing basically wrong with
the Nigerian character. There is nothing
wrong with the Nigerian land or climate
or water or air or anything else. The
Nigerian problem is the unwillingness
or inability of its leaders to rise to the
responsibility, to the challenge of personal
example which are the hallmarks of true
leadership.”
Many had hoped that because of his
M O N D AY D I S C O U R S E
Chief Justice of Nigeria, Walter Onnoghen
spartan lifestyle, Buhari would make all the
difference. With his abysmal performance
so far, Buhari obviously isn’t the messiah
Nigerians have been waiting for. Some of
his shortcomings include: He is insensitive
to the needs and feelings of the people he
governs, his poor handling of the economy
(allowing the naira to depreciate to as
low as N350 to a US Dollar for instane),
making appointments that ignored the
ethno-religious setting in the country, his
aversion for due process and rule of law.
Under his watch, in the last four months
of this year, over 1000 persons have been
killed in various parts of the country by
herdsmen and, all the president did was
to lament.
Since the killings began, the presidency
was not only in denial but was also de-
fending the atrocities. Those who should
help him stop the killings are themselves
bereft of ideas.
Apart from the herdsmen, militias have
been on a killing spree in the northern
part of the country. The General Overseer
of the Redeemed Christian Church of God,
Pastor Enoch Adeboye who usually refrains
from commenting on political issues is
unable to hold himself back after news
broke out that some gunmen went into
a church and killed people.
He said: “It doesn’t matter the denomi-
nation…by the special grace of God, all
Christians in Nigeria call me daddy. So
when any of them dies, it’s my son or
Many wrongly assume
that Nigeria will become
a better place once Buhari
is no more at the helms of
affairs, the truth, however
is that this is not going to
be the case
Group Politics Editor Tobi Soniyi
Email tobi.soniyi@thisdaylive.com
07054786260 SMS ONLY
Senate President, Bukola Saraki
daughter that is dead.
“It’s a terrible thing. A nation may
survive a civil war, but no nation can
survive a religious war and remains the
same.”
He therefore called on the president to
do more to stop the killings.
The Christian Association of Nigeria,
(CAN) also called for a national day of
protest to draw attention of government
to the killings. Jolted by the killing of
two priests and 17 worshippers of St.
Ignatius Catholic church, Mbalom, Gwer
East LGA of Benue State, CAN President,
Rev Olasupo Ayokunle, urged Christians
to hold the peaceful protests within their
church premises on Sunday April 29, 2018.
He said: “CAN urges Christians in
Nigeria to hold peaceful protest on the
set aside date, in the premises of their
churches asking the Federal Government
and the security agencies to stop the
unending killings and bloodshed in the
country.
“Christians are to carry placards with
inscriptions meant to address issues about
sustained killings, attacks and destruction
of their property in Nigeria.
“The inscriptions on placards could read,
“Enough of bloodshed in Nigeria”, “Enough
of unlawful killings in the country”, “FG,
Release Leah Sharibu from the bondage”,
“FG, Stop Herdsmen Killings”, “CAN rejects
FG’s poor handling of insecurity”, etc.
“Government should be called upon to
perform their constitutional responsibility of
protecting citizens now. No excuse should
be given for this wicked act again and
perpetrators must be brought to book now.”
But the President Isn’t the
Problem
Many wrongly assume that Nigeria
will become a better place once Buhari
is no more at the helms of affairs, the
truth, however is that this is not going
to be the case.
If we remove Buhari and elect someone
else as the president, will that person
be able to stop the National Assembly
T H I S D AY ˾
MONDAY, MAY 7, 2018
from continuing milking the country?
Even when the country is not earning
enough to take care of the citizens, the
lawmakers don’t love the country enough
to make concession and reduce what they
take from the country.
It will take our willingness as a people
to do that which is right and good for
the people before the country can be on
a path to development.
Leadership is important, but we are
wrong to keep on focusing on the Presi-
dency as a place where this will happen.
Not necessarily. History is replete with
stories of those who changed their country
even when they are not occupying any
leadership position.
If we remove Buhari, will that solve
the problem of electing into the National
Assembly people who don’t understand
what they do there? This reaction of Senator
Abu Ibrahim (Katsina- APC) during the
debate on whether to impeach Buhari
for paying $469m to the United States
of America to buy fighter jets without
appropriation raises the question whether
the Senator should he there in the first
instance.
The Senator accused senators of the
People’s Democratic Party (PDP) of
conspiring to impeach Buhari.
He justified the president’s decision
to make the withdrawal on precedence.
“He took action based on national
interest, that’s why he authorised this
payment. As far as I’m concerned, this
is the first time that money drawn from
excess crude oil account is being brought
to the National Assembly. Since they begin
to operate this account, I have never seen
any expenditure that was brought here
for approval.
“$17.7 billion was drawn by (ex-President)
Obasanjo to pay the Paris Club without
National Assembly approval. Obasanjo left
N9.3 billion in excess crude account but
former President Goodluck Jonathan …the
money with no recourse to the National
CONT’D ON PAGE 19
T H I S D AY ˾
MONDAY, MAY 7, 2018 19

POLITICS MONDAY DISCOURSE

BUHARI ALONE ISN’T THE PROBLEM

It will take our willingness

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

Assembly. The account was increased to

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

Email charles.ajunwa@thisdaylive.com

Experiencing GTB’s Food and Drink Fair

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

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


͵˜
ͰͮͯͶ 21

FEATURES

Five-year-old Master Faizu Gombe of Meldow

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

It’s nice teaching

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

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


͵˜
ͰͮͯͶ
BUSINESSWORLD
    
 
 
   Ͳ ˜ Ͱ ͮ ͯ Ͷ
MONEY MARKET
OBB
Ͱ˛Ͷͱ
ϱ
̩
OVERNIGHT ͱ˛ͱͱ

ϱ



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ACCOUNTING TO SHAREHOLDERS
L-R; Company Secretary, FSDH Merchant Bank Ltd, Mrs. Aidevo Odu-Thomas; Chairman, Mr. Femi Agbaje; and Managing Director/ CEO,
Mrs. Hamda Ambah, at the 6th annual general meeting of FSDH Merchant Bank Ltd in Lagos ... recently
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Inflation Rate Seen Heading
Towards Single-digit
Obinna Chima
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ÞÒÏ
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ËÝ
Ë

Inflation rate in the country has
been projected to drop further in
April, thereby inching towards
a single-digit rate.
Analysts at FSDH Merchant
Bank Limited stated this in a
report. They anticipated that
ØÎÓË
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ÞËÞÏÝ

inflation rate (year-on-year)
would drop to 12.43 per cent
in April 2018, from the 13.34 per
cent recorded in the month of
March.
The National Bureau of
Statistics (NBS) is expected to
release inflation rate for April
on May 13, based on the data
release calendar on its website.
The investment bank said
despite the increase recorded
in the prices of some food and
non-food items, the base effect of
the Composite Consumer Price
Index (CCPI) in April 2017, would
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depress the inflation rate.
It indicated that the value of
Despite NNPC’s Massive Importation, Marketers
Still Sell Petrol Above Official Ex-depot Price
Ejiofor Alike
Despite the flooding of the
Nigerian market with petrol by
the Nigerian National Petroleum
Corporation (NNPC), which has
led to the sale of the product at
official pump price, some depot
owners are still selling above the
official ex-depot price, THISDAY’s
investigation has revealed.
THISDAY gathered at the
weekend that while filling
stations were selling at pump
price of N140 –N145 per litre,
which comply with the retail price
band of N135 – N145 set by the
Petroleum Products Pricing Regu-
latory Agency (PPPRA), most of
REPO
CALL Ͱ˛Ͷͱϱ
1-MONTH Ͳ˛ʹ͵

ϱ
3-MONTH
ͳ˛ͯ͵ϱ
ECONOMY
the naira depreciated at both the
Nigerian Autonomous Foreign
Exchange (NAFEX) and parallel
markets. According to the report,
the value of the naira depreciated
by 0.09 per cent and 0.14 per
cent to close at US$/N360.17
and US$/N363 respectively at
the NAFEX and parallel markets
at the end of April.
“The rise in the international
prices of food coupled with the
marginal depreciation in the value
of the naira led to an increase in
the prices of imported consumer
goods in Nigeria between the
two months under review.
“The prices of certain seasonal
food items we monitored ap-
preciated in April 2018, leading
to 0.86 per cent increase in our
Food and Non-Alcoholic Index.
“This index increased year-
on-year by 14.71per cent, up
from 234.39 points recorded in
ENERGY
the depot owners were yet to
revert to the N123.28 – N133.28
indicative ex-depot price set by
the pricing agency.
It was gathered that apart from
the major oil marketers, about 12
other depots had stock of petrol
at the weekend.
The major marketers include:
Oando Plc, Total Nigeria Plc,
Mobil, Forte Oil, Conoil, and
MRS.
The major oil marketing
companies traditionally sell at
N145 per litre at the depots but
to only their dealers, who are also
S & P INDEX
INDEX LEVEL
1-DAY
MONTH-TO-DATE
April 2017. We also observed an
increase in the prices of Transport
and Housing, Water, Electricity,
Gas & Other Fuels divisions
between March and April. “We
estimate that the increase in the
CCPI in April would produce an
inflation rate of 12.43 per cent
lower than the 13.34 per cent
recorded in March,” it added.
Also, the Financial Derivatives
Company Limited projected infla-
tion rate for April to reduce to
12.7 per cent, adding that food
inflation likely to reach point of
inflection soon.
It, however, identified likely
risks to further drop in inflation
to include the passage of 2018
budget, increased election
spending and growth in broad
money supply (M2).
Central Bank of Nigeria (CBN)
Governor, Mr. Godwin Emefiele
recently said the central bank
would continue to work towards
a single-digit inflation rate.
provided with special offers to
ensure that they sell at the same
N145 per litre in their branded
filling stations.
Apart from the major market-
ers, petrol was also available in
about 12 other depots – AA Rano,
Chi-Pet, First Royal, Folawiyo,
Heyden Petroleum, Integrated
Oil and Gas, MRS, Obat, African
Tanker, T-Time Pet, and Wosbas.
THISDAY’s investigation
revealed that ex-depot price
was different in many of these
12 depots, where products
could be accessed from third
party at ex-depot prices of
N133.50 – N136.50, compared
to the indicative ex-depot price
Group Business Editor Chika Amanze-Nwachuku
Email chika.amanzenwachukwu@thisdaylive.com
S & P INDEX
ͱʹͮ˛ͷʹ

ϱ 1/4 TO DATE
̋ͮ˛Ͱͷϱ YEAR TO DATE


ͮ˛ͯͮϱ
etop ukutt
“We would love as much as
possible to have inflation as low
as possible. Last month, inflation
was 13.43 per cent.
“We are hoping that in 2018,
we should achieve a very low
double digit inflation level and
if we are lucky, high single-digit.
“And I think with that we
should be seen to be moving
in the right direction,” Emefiele
had explained.
The Food Price Index (FPI)
from the Food and Agriculture
Organisation (FAO) for April 2018
showed that the Index averaged
173.5 points, 0.25 per cent higher
than the revised value for March
2018, and 2.72 per cent higher
than the April 2017 figure.
According to the FAO, sugar
prices recorded the highest drop;
vegetable oil and meat prices
also declined.
However, prices of dairy and
Continued on page 24
of N123.28 – N133.28 recom-
mended by the PPPRA via the
circular with reference number
A.4/9/017/C.2/IV/690 of May
11, 2016.
One of the marketers, who
spoke to THISDAY off the record,
blamed the situation on NNPC’s
role as the sole importer of petrol.
“Marketers are finding it
difficult with NNPC as the sole
importer, because NNPC buys at
a higher cost at the international
market than the private marketers.
If the private marketers are given
the same incentives to import like
NNPC, they will buy at cheaper
Continued on page 24
23
08033294157, 08057161321
EXCHANGE RATE

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THUMBS
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Emefiele
24 T H I S D AY ˾
˜


͵˜
ͰͮͯͶ

BUSINESSWORLD NEWS

INFLATION RATE SEEN

NCC Shuts Down Firms over

HEADING TOWARDS
SINGLE-DIGIT

cereal continued to trend upward.

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

Group Business Editor

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


͵˜
ͰͮͯͶ 25





Nigerian Bourse Pares Gains on Profit Taking
Goddy Egene
Profit taking in bellwether stocks
prevented the Nigerian equities market
from sustaining the gains recorded the
previous week as the Nigerian Stock
Exchange (NSE) All-Share Index fell
marginal by 0.06 per cent to close at
41.218.72. Also, market capitalisation
shed N9.5 billion to close the week
lower at N14.931 trillion. The market
had appreciated by 1.05 per cent the
previous week due to bargain hunting
activities and investors’ reactions
improved to first quarter results by
some companies.
The market could not record
another positive close last week as
the benchmark indicator sagged
under the pressure of profit taking.
However, the NSE Premium, NSE
Banking, NSE Industrial goods, and
NSE Pension indices appreciated by
0.12 per cent, 1.56%, 1.06 per cent and
0.21 per cent respectively.
Analysts at Meristem Securities
Limited said in spite of gains recorded
in the banking and industrial goods
space, the market closed downbeat.
“The market’s performance was
majorly dragged by selloffs across
counters in the oil & gas, consumer
goods and insurance sectors,” they said.
In their own opinion, analysts at
Cordros Capital Limited said: We
look for return of gains on the bourse
in the medium to long term, amidst
fast-declining yields in the alternative
fixed income market. More so, as
macroeconomic fundamentals continue
to impress.”
Daily Performance
The market consolidated on the
positive performance of the previous
week on when trading resumed on
Monday. The benchmark index rose
by 0.06 per cent to close at 41,268.01,
while market capitalisation ended higher
at N14.95 trillion. The appreciation
recorded in the share prices of FBN
Holdings, Dangote Cement, Fidelity
Bank, Zenith Bank, and GTBank Plc
propelled the growth.
Similarly, activity level trended higher
as volume and value traded improved
41.1 per cent and 77.4 per cent to
450.5 million shares and N5.0 billion
respectively. The three most actively
traded stocks were Mutual Benefit
(130.96 million share), UBA (67.75
million shares) and FBN Holdings
(53.61 million shares).
In terms of sectoral performance,
two of the five tracked indicators,
however, appreciated. The NSE
Industrial Goods Index recorded the
highest gain, rising by 0.6 per cent
following appreciation recorded by
in Dangote Cement and CCNN. The
NSE Banking Index trailed rising 0.4
per cent due to buying interests in
GTBank and FBN Holdings. On the
negative side, the NSE Consumers
Goods Index led with a fall of 0.8 per
cent following losses posted by Nestle,
Dangote Sugar Refinery and Dangote
Flour Mills. The NSE Insurance Index
and NSE Oil & Gas Index shed 0.2
per cent and 0.1 per cent in that order.
The market sustained the positive
performance on Wednesday, growing
marginally by 0.09 per cent to close
at 41,306.02, driven by gains in the
share prices of Union Bank, Dangote
Cement, Access Bank, Zenith Bank and
UBA. The market capitalisation also
appreciated same margin to close at
N14.96 trillion. Ex-Dangote Cement
the market would have closed 0.85
per cent lower.
But activity level was mixed as
volume traded declined by 38.7 per
cent to 276.2 million shares while value
traded trended up 38.9 per cent to N6.9
billion. Wednesday’s top traded stocks
by volume were UBA (52.3 million
shares), GTBank (42.3 million shares)
and Zenith Bank (30.1 million shares)
while most active stocks by value
were Dangote Cement (N2.1 billion),
GTBank (N1.9 billion) and Zenith Bank
(N832.4 million).
Unlike the previous day, three of
five went up led by the NSE Oil &
Gas Index with 1.2 per cent. The NSE
Banking Index trailed with a gain of 0.6
per cent, just as the NSE Industrial
Goods Index chalked up 0.3 per cent.
Conversely, the NSE Consumer Goods
Index led laggards as losses in Nestle
and Nigerian Breweries dragged the
p y
Rank Broker
1 SISB
2 CORE
3 FBNS
4 CSL
5 GTI
6 READ
7 MERI
8 MCSE
9 RSNL
10 CSSL
NOTE: The top 10 Stockbrokers are responsible for 60.52% of the total volume between 30/04/2018 and 04/05/2018
Top 10 Brokers by Value
Rank Broker
1 CSL
2 FBNS
3 SISB
4 RSNL
5 EFCP
6 CHDS
7 GTI
8 CSSL
9 NISL
10 ARMS


NSE Banking Index appreciated by
0.8 per cent, while the NSE Insurance
Index rose by 0.2 per cent.
On the contrary, the NSE Consumer
Goods Index fell 1.5 per cent due to
selloffs in International Breweries Plc,
Nigerian Breweries Plc and Unilever
Nigeria Plc. The NSE Oil & Gas Index
trailed, shedding 0.8 per cent, just as
the NSE Industrial Goods Index shed
0.2 per cent.
The recovered on Friday with the
benchmark index rising 0.27 per cent
to close at 41, 218.72 per cent, while
market capitalisation ended higher at
N14.93 trillion.
However, the gain on Friday was
not enough to save the market from
closing the week with a decline. In
all, the market shed 0.06 per cent in
the review week.
Market Turnover
In the four-day trading sessions
investors traded 1.331billion shares
worth N20.835 billion in 18,695 deals
compared with 1.825 billion shares val-
ued at N24.653 billion that exchanged
in 23,148 deals.
The Financial Services Industry led
the activity chart with 1.042 billion
shares valued at N11.275 billion traded
in 9,665 deals, thus contributing 78.32
per cent and 54.11 per cent to the total
equity turnover volume and value
respectively. The Consumer Goods
Industry followed with 84.124 million
shares worth N4.322 billion in 3,691
deals. The third place was occupied by
Oil and Gas Industry with a turnover
of 51.918 million shares worth N596.463
million in 2,307 deals.
Trading in the top three equities,
UBA, Mutual Benefits Assurance Plc
and Access Bank Plc accounted for
457.930 million shares worth N3.784
billion in 1,469 deals and contributing
34.41 per cent and 18.16 per cent to
the total equity turnover volume and
value respectively.
Also traded during the week were
a total of 709,058 units of Exchange
Traded Products (ETPs) valued at
N3.845 million executed in 10 deals,
compared with a total of 56,260
units valued at N376,387.48 that
was transacted the previous week
in six deals.
Similarly, a total of 80,152 units
of Federal Government and State
Bonds valued at N82.543 million
were traded last week in 14 deals,
index lower by 1.1 per cent. The NSE volume traded rose 16 per cent to 320.4 compared with a total of 725 units
Insurance Index shed 0.59 per cent. million shares while value traded fell valued at N660,984.55 transacted the
The bears returned to the market on by 30.9 per cent to N4.8 billion. Top previous week in 10 deals.
Thursday reversing the gains posted in traded stocks in volume terms were:
the previous trading sessions. Specifically, UBA (79.9 million shares), Access Bank Price Gainers and Losers
the index fell by 0.48 per cent to close at (57.0 million shares) and E-Tranzact Meanwhile, 37 equities appreciated
41,107.81. Profit taking in International (20.3 million shares) while the top in price during the week, higher than
Breweries, Dangote Cement, Nigerian traded in value were UBA (N935. 2 33 in the previous week, while equities
Breweries, Unilever, and Dangote Sugar million), Access Bank (N644.4 million) depreciated in price, lower than 41
was mainly responsible for the decline and Zenith Bank(N488.3 million). equities in the previous week.
of the day. Despite the bearish trading, two of C & I Leasing led the price gainers
However, activity level was mixed as the sectoral indicators bullish. The with 29.5 per cent, trailed by Unity
Bank Plc with 20 per cent. Veritas
Description Quantity % of Volume Kapital Assurance Plc chalked up 17.8
STANBIC IBTC STOCKBROKERS LIMITED 318,513,982 11.96 per cent, just as Cement Company of
CORE SECURITIES LIMITED 261,528,096 9.82
Northern Nigeria Plc and Beta Glass
FBNQUEST SECURITIES LIMITED 221,345,066 8.31
Plc garnered 14.6 per cent and 10.2 per
CSL STOCKBROKERS LIMITED 205,309,645 7.71
GTI SECURITIES LIMITED - BRD 115,466,820 4.34
cent respectively.
READINGS INVESTMENTS LIMITED - BDR 113,870,839 4.28 Other top price gainers included:
MERISTEM STOCKBROKERS LIMITED 98,407,927 3.70 Livestock Feeds Plc (9.0 per cent); NPF
MORGAN CAPITAL SECURITIES LIMITED 97,287,523 3.65 Microfinance Bank Plc (8.5 per cent);
RENCAP SECURITIES (NIG) LIMITED 90,575,241 3.40 Mutual Benefits Assurance Plc (8.3 per
CARDINALSTONE SECURITIES LIMITED 89,400,351 3.36 cent); Union Bank of Nigeria Plc (7.2
Top 10 Total Volume 1,611,705,490 60.52 per cent0 and Vitafoam Nigeria Plc (6.4
per cent).
Conversely, Dangote Flour Mills Plc
led the price losers with 18.5 per cent,
Description Value % Value trailed by Eterna Plc with 13.0 per cent.
CSL STOCKBROKERS LIMITED 8,099,924,979.76 19.36 Prestige Assurance Plc shed 11.7 per
FBNQUEST SECURITIES LIMITED 5,606,432,423.40 13.40 cent, while Dangote Sugar Refinery Plc
STANBIC IBTC STOCKBROKERS LIMITED 5,249,098,583.23 12.54 went down by 11.2 per cent.
RENCAP SECURITIES (NIG) LIMITED 3,775,628,719.92 9.02 Other top price losers included:
EFCP LIMITED 2,739,336,216.65 6.55
Regency Alliance Insurance Plc (10
CHAPEL HILL DENHAM SECURITIES LTD - BRD 2,495,071,201.25 5.96
per cent); Oando Plc 8.7 per cent);
GTI SECURITIES LIMITED - BRD 1,257,098,251.51 3.00
CARDINALSTONE SECURITIES LIMITED 1,049,422,824.03 2.51
Chams Plc (8.7 per cent); Japaul Oil
NIGERIAN INTERNATIONAL SECURITIES LTD 1,027,333,676.96 2.46
& Maritime Services Plc (8.0 per cent);
A.R.M SECURITIES LIMITED - BRD 987,402,283.26 2.36 WAPIC Insurance Plc (7.0 per cent);
Top 10 Total Value 32,286,749,159.97 77.16 Niger Insurance Plc (6.6 per cent).
26








A view of Lagos financial district
Boost for Nigeria, China Trade
Obinna Chima
Since the inclusion of the Chinese currency
among basket of reserve currencies that
have special drawing rights (SDR), by the
International Monetary Fund (IMF), the
government of China has continued to see
it as a reflection of the importance of its
currency in the world’s trading and financial
systems.
The country’s expanding role in global trade
and the substantial increase in the international
use and trading of the Renminbi (RMB) has
seen it increasingly enter into currency swap
agreements with a lot of countries.
Some of the countries include the United
Kingdom, Belarus, Malaysia, South Africa,
Australia, Armenia, Surinam, Hong Kong,
Pakistan, Thailand, Kazakhstan, South Korea,
Canada, Qatar, Russia, the European Union,
Sri Lanka, Mongolia, New Zealand, Argentina,
Switzerland, Iceland, Albania, Hungary,
Brazil, Singapore, Turkey, Ukraine, Indonesia,
Uzbekistan, and the United Arab Emirates,
with the deal totalling over RMB3.137 trillion.
And last week, it finalised its currency swap
agreement with Nigeria, valued at $2.5 billion.
Central Bank of Nigeria’s (CBN) spokesman,
Mr. Isaac Okorafor, who announced this, said
the CBN Governor, Mr. Godwin Emefiele,
led CBN officials while PBoC Governor,
Dr. Yi Gang, led the Chinese team at the
official signing ceremony. He said the deal
was sealed the preceding Friday after over
two years of painstaking negotiations by
both central banks.
According to the CBN, the transaction,
which was valued at 16 billion RMB, was
aimed at providing adequate local currency
liquidity to Nigerian and Chinese industrialists
and other businesses, thereby reducing the
difficulties encountered in the search for
third currencies.
The CBN said among other benefits, the
agreement is expected to provide naira liquid-
ity to Chinese businesses and provide RMB
liquidity to Nigerian businesses respectively,
thereby improving the speed, convenience
and volume of transactions between the two
countries.
“It will also assist both countries in their
foreign exchange reserves management,
enhance financial stability and promote
MARKET INDICATOR
broader economic cooperation between the
two countries.
“With the operationalisation of this agree-
ment, it will be easier for most Nigerian
manufacturers, especially small and medium
enterprises (SMEs) and cottage industries
in manufacturing and export businesses to
import raw materials, spare parts and simple
machinery to undertake their businesses by
taking advantage of available RMB liquidity
from Nigerian banks without being exposed
to the difficulties of seeking other scarce
foreign currencies.
“The deal, which is purely an exchange
of currencies, will also make it easier for
Chinese manufacturers seeking to buy raw
materials from Nigeria to obtain enough
naira from banks in China to pay for their
imports from Nigeria.
“Indeed, the deal will protect Nigerian
business people from the harsh effects of
third currency fluctuations.
“With this, Nigeria becomes the third African
country to have such an agreement in place
with the PBoC,” it explained.
THISDAY exclusively reported that First Bank
of Nigeria Limited, Stanbic IBTC, Standard
Chartered Bank (SCB) and Zenith Bank Plc
had been appointed the settlement banks
for the bilateral currency swap agreement.
With their appointment, the four banks
will be responsible for settling the trade
transactions between importers and exporters
from both countries, likely to take off just
before next month.
The reason the four financial institutions
were chosen was because StanChart and
Stanbic already have operational offices in
China, while Zenith and FirstBank have
representative offices in Beijing.
However, whereas StanChart and Stanbic
can start operations immediately as settlement
banks, Zenith and FirstBank will be required
to upgrade their representative offices to full
operations in China.
While SCB already has a presence in China
through its Standard Chartered Bank (China)
Limited, Stanbic has been trading in the
country through its affiliate, the Investment
and Commercial Bank China (ICBC).However,
FBN and Zenith Bank were also appointed
because they already have representative
offices in China.
So, while SCB and Stanbic can start im-
mediately, it would take FBN and Zenith Bank
some time to join the settlement arrangement
because they would have to convert their
representative offices to operational offices.
The settlement banks are expected to handle
the trade obligations that would enable an
importer in Nigeria, after filling the required
documentation, to easily exchange the naira
for the Renminbi (RMB) instead of resorting to
third currencies such as the U.S. dollar, while
the reverse will be the case for importers in
China that trade with Nigerian businesses.
Commenting on the bi-lateral agreement,
Research Analyst at FXTM, Lukman Otunuga,
pointed out that sentiment towards the Nigerian
economy was elevated after the nation finally
signed the agreement with China.
According to him, the move will not only
improve the speed, but also the convenience
of transactions between both nations.
“There is a possibility that the naira will
strengthen from the currency swap deal, as
the demand for dollar drops,” he said.
To analysts at Cowry Assets Management
Limited, the currency swap deal wouldfacilitate
trade between the two countries, by provid-
ing adequate local currency liquidity to
Nigerian and Chinese industrialists and
other businesses, thereby sidestepping
a third currency -the US dollar.
“We expect the arrangement to ease
pressure on the limited dollar supply
at the Investors’ & Exporters’ forex
window (I&E)and hence, enhance stability
of thenaira/dollar exchange rate,” the
firm added.
But the Head, Global Research,
Standard Chartered Bank, Razia Khan,
said she does not expect the bilateral
agreement to have any immediate impact
on Nigeria’s forex reserves.
“Even if the swap were to be drawn on
in the future, it would likely show up as
a liability on the CBN’s balance sheet.
However, the swap is still significant
in that it provides greater international
liquidity to the CBN, reducing the need for
the CBN to hold an especially high level of
T H I S D AY ˾
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ͰͮͯͶ
AKINWUNMI IBRAHIM
precautionary USD FX reserves.
“Given the rebound in oil earnings, Nigeria’s
reserves are at an increasingly comfortable
level. With the swap arrangement in place,
it will however be possible for the CBN to
draw on this in order to provide the CNY
liquidity needed to support Nigerian import
demand from China, without having to convert
that to US dollar demand first.
“So, in all, this should support expectations
of forex stability in Nigeria, even as importer
demand recovers. It is a small positive, which
is reinforced by the greater positive of rising
forexreserves because of the rebound in oil
prices and exports,” Khan said.
Also, the Director General of the Lagos
Chamber of Commerce and Industry (LCCI),
Mr. Muda Yusuf, said the deal would positively
impact trade and investments between Nigeria
and China.
“It will impact on trade positively between
Nigeria and China, because it would make
the payment system easier. However, it can
only last if the exchange rate remains stable.
This is because if there are issues with the
exchange rate, it may affect it,” he added.
CBN Governor, Mr. Godwin Emefiele had
explained that Nigeria was not the only
country that had agreed to a currency swap
with China, as several other countries –
developed and emerging markets – with
growing trade volumes with China had
entered into similar currency swaps with
the Asian country.
“The agreement on the currency swap
with China will definitely benefit Nigeria
because the essence of the mandate is to
ensure that Nigeria is designated as the
trading hub with China in the West African
sub-region for people who want the Renminbi
as a currency denomination.
“Also for us, we believe that using the
renminbi will improve trade with China,
as this will encourage importers to open
L/Cs in the Chinese currency for the
importation of raw materials, equipment
and machinery from China, rather than
other trading regions, so the agreement will
encourage trade between both countries,”
he had explained.
This arrangement is also expected tocontrib-
ute towards stabilising the country’s balance
of payments (BoP) position.
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Dell: Digital Transformation, Key to Business Growth
Chairman and CEO, Dell Technologies, Michael Dell, spoke with journalists in Las
Vegas on how the technology company is driving digital transformation in work
places, as well as providing data protection and security through innovative tech
solutions in the digital era. Emma Okonji who was there presents the excerpts:
What are the benefits of digital transforma-
tion to organisations and what role will
technology convergence play in the whole
process of digital transformation that is
currently sweeping across globe?
Digital transformation is about the use of
technology to change the way businesses operate
and making businesses much more efficient and
profitable. It transforms economics of scale to
drive smart cities, while taking real time decision.
Technologies are converging to offer better solu-
tions for business agility. Artificial Intelligence
(AI), Machine Learning (ML) and Internet of
Things (IoT) are going to drive convergence in
the technology space. What this development
means to us at Dell is that the globe needs to
generate more data to catchup with the rapid
technology growth that convergence is bringing.
Organisations must also invest in AI, IoT and
ML to benefit from the digital transformation.
How will Dell Technologies help emerging
markets in African countries catch up with
digital transformation, considering the low
level of technology infrastructure in the
African region?
African countries need to embrace the global
technology transformation and invest in technolo-
gies such as AI, IoT and ML to catch up with
the speed of technology development. They
also need to invest in infrastructure, especially
broadband infrastructure. What I think every
country should do, is to use local technology
partners to develop local technologies that will
address organisational and societal challenges,
while they still invest in modern technologies.
What Dell Technologies could also do is to develop
the local markets and offer them opportunities
to grow their businesses and economies, using
technology solution.
How will Dell Technologies help telecoms
companies to deliver innovative and quality
services to their customers, especially in
Nigeria where subscribers are faced with
poor service quality?
Dell Technology is a technology solutions
company, developing solutions that will drive
business efficiency across various sectors of the
economy, including the telecommunications
sector. So we have invested in private and
public cloud and we have solutions that will
enhance telecoms business in Nigeria and the
rest of the world.
What is your advice for the African market,
with regards to digital transformation?
Developed economies of the world are deploy-
ing technology to enhance businesses and promote
economic development. African nations must do
same and embrace digital transformation. Every
African nation must see it as a necessity to grow
its economy through the digital transformation
that is currently sweeping across the world.
Digital transformation has enhanced businesses,
and every business is looking for ways to deploy
the best of technology solutions in every aspect
of their operations to drive growth, new business
partners, relationships as well as products and
services. Technology is now top on the agenda for
businesses globally because technology strategy
is about business strategy, and every business
must embrace it. We will continue to innovate
each day to enhance customer’s business. Today’s
success story is different from the success stories
of the past because technology has become the
game changer. We need to use data, Artificial
Intelligence (AI), Machine Learning (ML) and
Internet of Things (IoT) in a way that will drive
speed of business. Technology transformation
is the way to go and data is the fuel that will
drive global technology transformation. Dell will
continue to support innovations that will drive
IoT, AI, and ML, through our public and private
cloud solutions that we offer for business growth.
How will you address the fears of most
organisations who are still skeptical about
investing so much in technology business?


Dell
A recent research survey conducted by Dell transformation, 51 per cent is still struggling
shows that 42 per cent of the global population to keep up with the digital technology space,
does not know whether they can cope with digital while 93 per cent is faced with the barriers of
digital transformation. But in all of these, digital
transformation must drive Information Technology
(IT) transformation, workplace transformation
African countries and security transformation. Organisation must
need to embrace the therefore summon up the courage to continue
to invest in technology to drive their business
global technology because the gains are enormous.
transformation and What is your view about technology
invest in technologies regulation across globe?
such as AI, IoT and ML
Regulation is important provided it does
to catch up with the not stifle technology growth. Technology has
speed of technology brought a lot of disruptions in recent times,
development. They yet some people are still afraid about the social
impact of technology. What country regulators
also need to invest must know about technology regulation is
in infrastructure, that technology advancement could be used
to propagate good and evil, depending on the
especially broadband mindset of the people at the centre stage, and
infrastructure. What we will not stop innovating just because some
I think every country people use technology for harmful and selfish
gains. The truth is that technology is the game
should do, is to use changer and has brought about a lot of business
local technology growth and agility and we will continue to
innovate. When fire was invented in the early
partners to develop local years, some people felt it was a destructive
technologies that will technology but many saw it as a solution for
address organisational industrial and domestic use, and today fire is
used in homes in different ways. When the
and societal challenges, internet was first developed, many countries
while they still invest in condemned it, saying it is evil but today the
internet has revolutionise the entire globe, it has
modern technologies. created lots of jobs and businesses and many
What Dell Technologies are benefitting from it. What matters is about
could also do is to using technology in a responsible way.
develop the local In promoting digital transformation,
markets and offer what is Dell Technologies doing about
data protection and security?
them opportunities to One of the biggest accelerator in digital
grow their businesses transformation is the ability to protect and
secure the growing amount of critical data.
and economies, using Security transformation therefore must come
technology solution with solutions that are resilient, adaptable and
27
unifiable. Vmware for instance, can accelerate
business innovation by forming a consistent
digital foundation, so that any device can ac-
cess any application from anywhere. We also
have the Dell EMC workforce transformation
and how to keep data of organisations safe.
At Dell Technologies, we engineer security in
every of our product and solution. On top of
that we we lead the market in security and
digital transformation. In 2014 we envisioned the
combination of Dell EMC and Vmware to provide
robust server and storage and virtualisation and
in 2016, the combination helped customers in
the area of data security and it has enhanced
the tremendous growth of Dell Technologies
by several billion dollars and we are growing
faster than we planned.
How will 5G technology help in driving
digital transformation within organisations?
5G technology is about speed in accelerating
business transformation and digital transformation
comes with the fastest delivery of products and
services to enhance business performance and
returns on investment. So 5G is an accelerator
that will further drive cloud solutions to boost
digital transformation.
How will the combination of Dell EMC
drive digital transformation, using Internet
of Things and Artificial Intelligence?
Internet of Things (IoTs) and Artificial Intel-
ligence (AI) are the next generation of technology
solutions that are driving digital transformation
and organisations need a lot of data to effectively
use IoTs and AI to drive their business. They
need to generate data, aggregate the data to
take fast and instant decision that will turn
around the organisation in a more efficient way.
How will you assess the growth of Dell
Technologies as a technology company?
I started Dell Technologies about 34 years ago
and the company has witnessed tremendous
growth since inception. Today the company worth
billions of dollars and we are still growing and
acquiring new companies as the need arises.
At the Dell Technology World 2018, new
solutions were announced. What are these
solutions about and how will they enhance
organisational growth in the African emerging
markets?
Dell Technologies launched several new
breakthrough at the Dell Technology World
2018. One of them is the Dell EMC storage
and server products backed by a comprehensive
services portfolio. This solution raises the bar
to power up the modern data centre and these
new products are designed to address a wide
range of traditional and emerging data centre
workloads to help customers drive better business
outcomes.
We also unveiled the new Dell Wyse 5070 thin
client, the company’s most versatile and scalable
thin client platform that enables organisations
to select just the right configuration based on
employees’ needs. In addition, Dell Technolo-
gies is expanding Dell EMC’s VDI Complete
Solutions, powered by VMware Horizon, to
include support for 14th generation PowerEdge
server infrastructure and virtualised graphics
options for high-performance workloads. Both
solutions lower the barrier to VDI adoption,
making it easier than ever for organisations to
plan, deploy, and run desktop and application
virtualisation within their IT environments.
Again VMware outlined its vision for the
future of networking, and unveiled the Virtual
Cloud Network, which enables organisations to
create a digital business fabric for connecting and
securing applications, data, and users across the
entire network in a hyper- distributed world.
To deliver on this vision, VMware announced
the VMware NSX networking and security
portfolio to enable consistent, pervasive con-
nectivity and security for apps and data across
software- defined data centre, branch, cloud,
and telco environments.
28 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 29
30





LCCI Names Rack Centre Winner of Local
Content in ICT
The Lagos Chamber of Com-
merce and Industry (LCCI)
has announced Rack Centre,
Africa’s Premium Tier III
certified Data Centre as the
winner of its local content in
Information and communication
Technology (ICT).
The recognition announce-
ment was made at this year’s
commerce and industry awards
held recently in Lagos.
Director General of LCCI,
Mr. Muda Yusuf, while ex-
plaining the rationale for the
awards, which is in its fifth
edition, said: “The objective
Vodacom Business
Nigeria Wins at Beacon
of ICT Awards
Vodacom Business Nigeria
has been honored with three
major accolades at the Beacon
of ICT (BoICT) Awards 2018.
Adding to the list of accolades,
Vodacom, received awards for
Enterprise Solutions Provider of
the Year, an award conferred
on the company consistently
since 2013; Internet of Things
(IoT) Focused Company, owing
to its pioneering and visionary
endeavors in this area in the
past two years. A third award
was also given to Vodacom for
Enterprise Broadband Services
Provider of the year.
The BoICT awards is a merit
based celebration organised by
Nigeria CommunicationsWeek,
which aims to recognise out-
standing contributions to the
growth and development of
ICT in Nigeria.
This year, over two million
readers of Nigeria Communica-
tionsWeek voted in different cat-
egories and Vodacom emerging
as the clear winners in the three
categories; Enterprise Solutions
Provider of the Year, Internet of
Things Focused Company and
Enterprise Broadband Services
Aruna Appointed First Nigerian
Tetra Pak MD
Tetra Pak West Africa has
confirmed the appointment
of Oshiokamele Aruna as the
new managing director(MD)
of the company. The appoint-
ment of Aruna, makes him
the first Nigerian to attain this
position in the history of Tetra
Pak, a leading processing and
packaging solutions provider.
“My ambition is to reinforce
Tetra Pak’s leadership in West
Africa, and support our partners
and customers in their respective
projects. West Africa has a great
development potential and I’m
glad to become more involved in
my native region,” Aruna said.
Communications Director,
North & West Africa of the
company, Tawfiq Agoumi, said
the appointment “is a reflection
of Aruna’s impeccable pedigree
and competence, and confirms
the strategic importance of the
Nigerian market, one of the most
dynamic in the Middle East and
Africa region.”.
is to recognise, celebrate and
promote private and public
institutions that have exhibited
the core values of best business
practises, business sustainability
and have positively impacted
the society.’’
The Chamber said the award
to Rack Centre and other
winners was “an outcome of
painstaking selection process
from numerous entries received
for the award category and
backed by feedback from
industry’s market intelligence.’’
Director, Advocacy and
Enterprise Development, LCCI,
Provider of the Year, a new
category introduced this year.
Speaking at the award
ceremony, which took place
in Lagos at the Eko Hotel &
Suites, Victoria Island, Lagos,
recently, Managing Director
for Vodacom Business Nigeria,
Lanre Kolade said: “Winning
these three awards elicits two
very distinct emotions today,
pride and humility. Pride in the
achievements of our dynamic
and tenacious team over the
years, and humility because
we would be nowhere without
our customers who continue
to trust us to meet their total
communications needs and keep
them connected 24/7.”
According to him, “These
awards are an affirmation of our
diligence and commitment to
delivering the highest quality
enterprise-grade total communi-
cations solutions in the industry.
We assure our customers that we
will not relent in our pursuit of
innovative technological solutions
that accelerate business growth
and profitability, with unwaver-
ing determination to turn their
challenges into solutions.”
Aruna, a graduate of
Chemical Engineering is also
a Chartered Accountant. He has
attended various courses in top
management schools including
IMD in Switzerland. He has
over 18 years’ work experience
spanning various senior manage-
ment roles including Tetra Pak
West Africa, a company that he
joined in 2005. His last position
was Finance Director from 2011
until his recent appointment.
Tetra Pak is a global leading
food processing and packaging
solutions company. Working
closely with its customers and
suppliers, the company provides
safe, innovative and environmen-
tally sound products that each day
meet the needs of hundreds of
millions of people in more than
170 countries around the world.
With more than 23,000 employees
based in over 85 countries, the
company believes in responsible
industry leadership and a sustain-
able approach to business.
Dr. Vincent Nwani, said: “Rack
Centre has made sustained
and dedicated commitment
to the Nigerian’s economy by
its huge investment in data
centre and network connectivity
thereby saving the Nigerian’s
economy millions of foreign
exchange on an annual basis,
and providing the much
needed employment for the
youth while also enhancing
data security and reliability
for corporations across the
African continent.
“We are very proud of Rack
Centre and LCCI in its 2018
CAPACITY BUILDING
Regional Bank Head, Victoria Island, Fidelity Bank Plc, Chinwe Ighodalu (fourth from the left), with female entrepreneurs at Impact Her
Workshop after delivering a lecture to them on ‘Loan Readiness For Women in Business’ which took place at Canton Concourse, Maroko in
Lagos...recently
ESET Wins BoICT 2018
Information Security Company
Award
ESET has emerged the Best
Information Security Company
of the Year at Beacon of ICT
awards 2018, for its dedication
to developing high-performing
security solutions for home users
and corporate customers.
ESET is known for predicting,
preventing, detecting and reme-
diating all known and emerging
forms of cybersecurity threats.
The Company took home the
prestigious award two years
in a row after topping other
challengers during the online
voting, the BoICT Awards
organisers said.
ESET is notable for her exten-
sive line of solutions which protect
across all types of environments
and platforms from computers and
servers to mobile devices, helping
their clients maintain maximum
protection across all types of
environments. Founder/Editor
In-Chief, Nigeria Communication-
sWeek, Mr. Ken Nwogbo, said
the superior detection capabilities,
low system requirements of the
company’ solutions, coupled with
the local presence and premium
support services to their clients,
irrespective of the company size,
came to play even as the products
are priced among independent
anti-malware testing organisations.
Nwogbo further described
the award as a testament to
array of talents at ESET Nigeria
Commerce and Industry
Awards; we recorgnise and
celebrate the company for its
value addition to the Nigerian
Economy.”
The LCCI, which has grown
from a membership strength
of 14 in 1888, to 1, 500 as at
today, prides itself as a credible
platforms for such awards,
which cuts across all the sec-
tors of the Nigerian economy
and was to showcase those
organisations that “have made
remarkable contribution to the
development of commerce and
industry and the economy at
who are constantly innovating
and contributing their quota to
the growth of the ICT industry,
adding “we are at Communica-
tions Week Media are happy
that Nigerians have recognized
ESET’s hard work, sincerity and
dedication towards the defense
of the of industry.”
Commenting shortly after
receiving the award, Country
Manager, ESET, Mr. Olufemi
Ake, dedicated the award to the
numerous ESET loyal customers
in the country.
He also appreciated the
team for their consistency and
resilience over the years. “We
are happy that Nigerians rec-
ognized our efforts in offering
a full range of business and
consumer products. In fact,
more than 95 per cent of
our customers in Nigeria are
retained annually. This says a
lot about our commitment to
providing proactive protection
and enviable technical support
service to existing customers,”
Ake said. Our product ranges
from Endpoint Security, Server
Security (both File Server and
Mail Security for Exchange
Server), Access Protection (Two-
Factor Authentication), Data
Loss Prevention, Encryption,
Mobile Device Management,
Patch Management and Threat
Detection & Management.
T H I S D AY ˾
˜


͵˜
ͰͮͯͶ

large’ ’adding that corporate
governance’ ’was also a major
consideration in the evaluation
of nominees for the award.”
Managing Director of Rack
Centre, Mr. Ayotunde Coker
said: “We are delighted and
honoured to win this award
from the LCCI, a great busi-
ness institution in Nigeria.
Rack Centre is developing
world class technology so
that businesses do not have
to host their data abroad,
or spend scarce resources
building data centres locally
and our Cloud-on-Ground of-
Etisalat, Intel, Ericsson Celebrate
5GVarsity Contest Winners
Etisalat and Intel, together with
Ericsson have congratulated
students from the American
University of Sharjah for dem-
onstrating innovative 5G use cases
as part of the recently concluded
university competition.
The Information and Com-
munication Technology (ICT)
giants joined forces in February
this year to launch the university
competition, targeting engineering
students from renowned UAE
universities, under the theme
of ‘Driving the Future of 5G
Innovation’. Over 20 teams
from the American University
of Sharjah, Khalifa University and
New York University Abu Dhabi
competed to best demonstrate 5G
use cases. Five of the 21 teams
were shortlisted and invited to
present their innovative ideas
in front of a prestigious jury of
industry executives: Khalifa Al
Shamsi, Etisalat Group Chief
Strategy & Corporate Governance
Officer, Petter Järtby, Head of
Etisalat Global Customer Unit
at Ericsson, and Taha Khalifa,
Sales Director, EMEA Territory
at Intel evaluated the shortlisted
projects. Abdullah Ahmed, Jay-
roop Ramesh, and Saad Aldeen
from the American University
of Sharjah won first place after
presenting their ground-breaking
idea of Decentralized Peer to Peer
Mobile Devices Cloud computing
using 5G technology.
Runner up position went to
fering brings a comprehensive
range of cloud services to our
doorstep, providing access
to a comprehensive range
of computing and network
interconnect services locally.”
Rack Centre is the state-of-
the-art, Tier III Constructed
Facility Certified data centre
offering carrier neutral coloca-
tion services. It has connec-
tion to over 27 of the major
carriers and Internet Service
Providers (ISPs) in the country
and direct connection to all
undersea cables serving the
South Atlantic Coast of Africa.
students Baleegh Ahmad and
Doovaraha Maheswarasarma
from NYU Abu Dhabi who
proposed a solution based on 5G,
augmented reality and robotics to
optimize and automate operations
in the cargo industry.
Finally, Bashar Al Jabery,
Marawan El Bardicy and Mustafa
Al Jassim from the American
University of Sharjah came in third
place with their “Wear Hear” use
case around using smart glasses,
5G and Edge computing to help
individuals with hearing disabilities
better communicate and integrate
in the society.
The winning teams will all
receive valuable prizes including
internship opportunity in Etisalat
or Ericsson as well as a one of its
kind enrollment opportunity to a
tailor made three-month coaching
program from Ericsson Garage,
which will be kicked off by a full
week trip to Ericsson Stockholm.
Senior Vice President, Mobile
Network, Etisalat, Saeed
Alzarouni, who commented
on the students’ entries at the
awards ceremony, said: “We
believe innovation is the future
of human investment which is
why our vision as a company is
in line with the national agenda
that emphasizes its importance
across sectors where innovation,
research, science and technology
will form the pillars of a highly
productive and competitive
economy.”
T H I S D AY ˾
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SES Increases Reach in Nigeria to over 11m

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

Teniola Re-elected ATCON

President, Harps on Broadband
Access
Emma Okonji
The Chief Executive Officer
of Kinten Telecoms, Mr.
Olusola Teniola has been
re-elected as President of
the Association of Telecoms
Companies of Nigeria (AT-
CON), while the CEO of
Medallion Communications,
Mr. Ikechukwu Nnamani
emerged the new First Vice
President of ATCON.
Other members of exco
that emerged at the election,
which took place last week,
were, Mr. Muyiwa Ogung-
boye of eStream Networks
as Second Vice President;
Myke Ofili of Coloplus
Worldwide Services Lim-
ited as National Secretary;
Aderonke Adeyegbe of
Comercio Limited as Fi-
nancial Secretary; Anucha
Hyacinth of GTS -Infotel
Nigeria Limited as Trea-
surer and Adanna Nosiri
of IHS Nigeria Limited as
Publicity Secretary. Others
were Ezekiel Egboye of
Rack Centre Limited as
Coordinator, Equipment
Dealers; Osondu Nwokoro
of ntel as Coordinator,
Telephone Operators,
among others.
Addressing the media
shortly after the election,
Teniola assured Nigerians
of the resolve of the newly
elected excos to vigorously
pursue broadband penetration
and ensure that all Nigerians
have access to broadband at
affordable rate.
“We need competition in
the industry that speaks to
the open access so that our
Internet Service Providers
(ISPs) and other industry
operators can gain access
to the right capacities and
pricing so as to provide
affordable services to the
consumers. This will drive
huge data as required as
well as provide access to
broadband infrastructure
for those outside Lagos,”
Teniola said.
Commending Globacom for
the planned takeoff of Glo2,
Teniola said it would help to
advance broadband capacity
to the hinterlands, outside of
Lagos for easy access.
Pleased with the conduct
of the election, Nnamani said
the new excos would review
the current ATCON policies,
with a view to upgrading
some of the policies that
are still relevant in today’s
digital era, and discard those
that are not.
“Digital technology and
convergence have created some
disruptions in the technology
space, and we must align our-
selves with the global realities
of today’s digital era. Today
we see a new set of technology
activities from Value Added
Service (VAS) providers and the
FinTechs, creating new line of
businesses that drives efficiency
and profitability. The newly
elected excos will address the
new development and ensure
that member companies benefit
from them.
We will come up with new
advocacy that will enhance
members’ businesses and
promote stable economy,”
Nnamani said.
Addressing the issue of
multiple taxation in the
telecoms industry, Nnamani
said ATCON would continue
to engage with the relevant
authorities at the federal,
state and local governments
to arrive at a consensus on
how best to levy telecoms
operators and still make them
competitive in their business.
HONOUR WELL DESERVED
L-R: Assistant Business Development Manager, Priority Communications, Aanuoluwapo Agboola; Engineering Manager,
Olujide Idowu and former Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Ernest Ndukwe, at the BoICT Award,
where Priority Communications was announced as IT Services Provider of the Year, which held in Lagos ... recently
Infinix Mobile Holds Smartphone Photography Masterclass
Emma Okonji which held in collaboration centric society. She lectured the amazing 20MP Low Light
with Deola Adebiyi of Omoge participants on how to take selfie with a bokeheffect and
Following the recent release of Mura, a blogger, explored latest quality selfies by finding the the beautify mode, 18:9 infinity
its latest smartphone flagship trends on how to capture great light, using grid lines and not display and a huge 4000mAh
device, the Hot S3, Infinix moments with selfies. being afraid to edit. battery capacity.
Mobile, last week, held a Remarkably, Infinix mobile “This is a welcome initiative “The Infinix Hot S3 provides
smartphone photography master is among the mobile brands other brands should emulate. I seamless multitasking with its
class to share knew knowledge that are fully aware of how thought I knew it all when it comes huge 3GB RAM and can store
on the use of selfies to capture much selfies have become a to smartphone photography, but a lot of data such as songs,
best moments. part of our everyday existence this master class has taught me HD movies, images with its
The master class, which was as Nigerians. that there are a lot of things I 32GB ROM which is expandable
well attended, validates existing Through the master class didn’t know about smartphone up to 128GB. On the camera
facts that the brand is one of themed: “How A Selfie Focused photography’ said,” Shola Adebiyi, department, we have set this
the biggest mobile brands in Phone Can Help Lifestyle blog- an excited participant. device up to compete with the
Nigeria that can be trusted to ging,” Infinix has only gone on Also speaking at the master class best with it 20MP+13MP with
deliver every time there is a to re-echo the multiple possibili- was Infinix Hot S3 Product Man- bright flash which is at par with
need for great invention in the ties that can be attained using ager, Andy Wang, who spoke on a professional camera. So, users
mobile tech space. its device in finding expression some of the amazing features of have nothing to worry about,”
The photography master class, for business and style in a photo the new phone. They include Wang said.
Organisations Overhauling IT Will Leapfrog
Competition, Says Dell EMC
Emma Okonji changing customer needs. A customers the ability make that today need to be agile to stay
fundamental first step to this end-to-end strategy a reality, competitive and drive growth,
Dell EMC has announced the change is transforming IT, to help driving disruptive innovation and IT transformation can be
results of new research con- organisations bring products to without the fear of being a major enabler of that. It’s
ducted by Enterprise Strategy market faster, remain competitive disrupted themselves.” clear that IT Transformation
Group (ESG) into the benefits and drive innovation. ESG employed a research- is increasingly resonating with
of information technology (IT) Vice Chairman, Products and based, data-driven maturity companies and that senior
transformation which validates Operations, Dell Technologies, model to identify different stages executives recognisse how IT
that IT transformation can result Jeff Clarke, said: “Data is the of IT Transformation progress Transformation is pivotal to
in bottom-line benefits that new competitive edge – yet it’s and determine the degree to overall business strategy and
drive business differentiation, become highly distributed across which global organisations have competitiveness.”
innovation and growth. the edge, the core data center achieved those different stages, At Dell Technologies World,
Today’s business landscape is and cloud. Organisations realise based on their responses to ques- which holds April 30th to
rife with disruption, much of it they have to move quickly to tions about their organisations’ May 3rd, 2018, experts from
driven by organisations using turn that data into business adoption of modernised data Dell EMC will discuss these
technology in new or innovative intelligence – requiring an centre technologies, automated results and demonstrate how
ways. In order to survive and end-to-end IT infrastructure that IT processes and transformed IT transformation creates a digital
thrive in today’s digital world, can manage, analyse, store and organisational dynamics. advantage that can help busi-
businesses are implementing protect data everywhere it lives. Vice President of Research, nesses become more valuable to
new technologies, processes “We’re in the business of better Enterprise Strategy Group, John customers and more competitive
and skillsets to best address business outcomes, giving our McKnight, said: “Companies in their respective markets.
32 T H I S D AY ˾ MONDAY MAY 7, 2018 T H I S D AY ˾ MONDAY MAY 7, 2018 33
34
BUSINESS/MONEYGUIDE
Afreximbank Urges Infrastructure Upgrade to Enhance African Trade
Obinna Chima
Africa must urgently upgrade
its maritime and logistic infra-
structure in order to success-
fully promote the continent’s
trade, especially intra-African
trade, the African Export-
Import Bank (Afreximbank),
has said.
In an address at the Africa
Shipowners Summit in Seychelles
recently, the Managing Director
of Afreximbank’s Intra-African
Trade Initiative, Kanayo Awani,
who spoke on behalf of Bank’s
President, Dr. Benedict Oramah,
described weak maritime and
logistic infrastructure as being
particularly harmful to African
trade.
Awani noted the continent
currently has the world’s highest
transportation and transaction
costs.
Access Bank Empowers 500
Female SME Operators
Access Bank Plc has disclosed
that its ‘W’ Academy, in partner-
ship with the Enterprise Develop-
ment Centre (EDC) of the Lagos
Business School (LBS), recently
organised a professional business
capacity-building workshop for
500 female entrepreneurs in
Port-Harcourt, Abuja and Lagos.
These capacity building initia-
tives across the three states took
place in the last four months and
served as the third, fourth and
fifth editions of the Second season
of the bank’s Womenpreneur
Business Workshop training.
Speaking on the initiative, the
Group Head, Product Sales of
Access Bank Plc, Ope Wemi-Jones
said, was quoted in a statement
from the bank as saying: “Since
2006, the bank has maintained its
commitment to drive women’s
Participants Hail GTBank Food Fair
Peter Uzoho
The Food and Drink Fair
recently organised by Guar-
anty Trust Bank (GTB) has
received commendations from
participants.
The fair, which took place in
Lagos, attracted over 300, 000
participants including interna-
tional chefs, vendors, parents
and guardians, school children,
pleasure-seekers, amongst oth-
ers, who took advantage of the
three-day show to make sales,
transfer and update knowledge,
market individual products and
services, as well as networking.
Being the second in its
series, the fair, which centred
on promoting enterprise and
showcasing unique African
delicacies, had British award-
winning chef and TV presenter,
Edd Kimber, as the headliner and
accompanied by his professional
colleagues including Lorraine
Pascale, Scott Winston, Sunny
Anderson, Muse Tahir, Siba
Mtongana, Raphael Duntoye,
and Elizabeth Solaru.
Masterclasses of different
sessions were delivered for
both old and young culinary
artists and small and medium
enterprises and school children
who were taught the different
cooking and baking skills, while
food and vendors were offered
ample opportunity to do business
She also pointed out that only
a few of the African countries
with access to the sea had estab-
lished the right infrastructure for
marine transport even though
Marine transport accounted for 92
per cent of Africa’s external trade
and 92 per cent of the continents
imports were seaborne.
According to her, Africa
currently handles only six per
cent of global seaborne traffic,
out of which 50 per cent of the
volume was handled by Egypt
and South Africa.
Lamenting that most African
countries did not have national
vessels, Awani said it was es-
timated that Kenya lost about
$3 billion annually in money
paid to foreign shipping lines.
She recommended incentives
to encourage African businesses
to support the development of
local shipping lines and called
economic empowerment in the
nation.
“The Womenpreneur Business
workshop is intended to educate
and enlighten Nigerian women
on the fundamentals in business
which will eventually help them
attain their full potential.”
The Womenpreneur Business
workshop, a flagship training
of the ‘W’ Academy under its
Access Bank’s ‘W’ initiative was
designed to address the lack of
access to entrepreneurial skills,
finance, networking, and man-
agement skills; which are the key
barriers to women’s economic
inclusion. The objective of the
Womenpreneur Business Work-
shop is to provide a discounted
and practical capacity building
programme that exposes female
business owners to the nation’s
and connect with new comers.
Commenting on their experi-
ences at the fair, attendees said
the bank provided a perfect place
for fun, business and networking.
A vendor who deals on food
stuff, fruits and vegetable, the
CEO of Vegetalfoods, Mrs.
Osaretin Okaro, said the fair
enabled her to make more
business contacts.
“Thank God I didn’t fail to
come to this fair. I made sales
like never before. The most
interesting thing is that it has
made to add more contacts to
the one I have”, she enthused.
“You can see what is hap-
pening here, great business
opportunity. People are coming
here to patronise us. So I thank
the bank for this opportunity. I
urge them to continue doing this
every year,” she added.
One of the food enthusiasts
and fun-seekers, Agogo Edohor,
said the programme was fantastic
and amazing.
“Oh my God, I feel like not
leaving here again. This is so
fantastic and amazing. I’m
having great fun here, tasting
foods and wines.
“Look at the setting, so neat,
so enticing. You have all you
need right here. And they made
it so convenient that you have
different options for payment. I
wish this could go on beyond
the three years. I give thumbs
T H I S D AY ˾
˜

MAY 7, 2018
for investment in national/
domestic fleet through gradual
and staggered vessel acquisition,
terminal management, freight
forwarding and logistics.
Opportunities also existed
in inland waterways, cruise
ship services, trans-shipment,
container manufacturing and
repairs, dry docking and other
value addition services, such as
sorting, arranging, packaging/
re-packaging, cold storage and
distribution, she added.
The summit, organised by the
African Shipowners Association,
also featured the presentation of
an Honorary Captain’s Award
to Oramah by the organisers
for Afreximbank’s contribu-
tion in supporting the Blue
Economy and the Maritime
Sector in Africa. Awani ac-
cepted the award on behalf
of the President.
Broad Street
economic reality as well as help
them simplify processes and hone
MARKET INDICATORS
the requisite skills needed to
grow their businesses. MONEY AND CREDIT STATISTICS (MILLION NAIRA)
So far, over 2,300 business AUGUST 2017
women in Lagos, Port Harcourt,
Ibadan, Abuja, Kaduna & Enugu Broad Money (M2) 21,851,454.31
have benefitted immensely from -- Narrow Money (M1) 9,890,813.10
the workshop with testimoni-
als around increasing their ---- Currency Outside Banks 1,523,239.91
business network, improving
---- Demand Deposits 8,367,573.19
their business model and are
thriving through the economic -- Quasi Money 11,960,641.22
constraints with ease. This first
of its kind workshop is highly Net Foreign Assets (NFA) 9,732,990.89
discounted and targeted at small Net Domestic Assets(NDA) 12,118,463.42
and medium scaled women
entrepreneurs. Wemi-Jones -- Net Domestic Credit (NDC) 26,821,446.81
disclosed that plans have been ---- Credit to Government (Net) 4,824,226.22
concluded to hold the next edi-
tions of the workshop in Kano ---- Memo: Credit to Govt. (Net) less FMA 7,834,536.74
and Ibadan in July and August
---- Memo: Fed. and Mirror Accounts (FMA) --3,010,310.52
respectively.
---- Credit to Private Sector (CPS) 21,997,220.59
--Other Assets Net --14,702,983.39
Reserve Money (Base Money) 5,486,804.65
up for GT bank for packaging --Currency in Circulation 1,868,735.07
such an excellent fair,” she said. 3,268,266.17
--Banks Reserves
The Food and Drink Fair,
according to the bank, was ˾

ÙßÜÍÏ
̋


designed to celebrate Nigeria’s Money Market Indicators (in Percentage)
vibrant food culture while
Month August 2017
promoting enterprise in the
small business sector of the Inter-Bank Call Rate 22.63
food industry, bringing together
SMEs operators, global-renowned Minimum Rediscount Rate (MRR)
chefs and food lovers from across
Monetary Policy Rate (MPR) 14.00
the world. The Chief Executive
Officer of the bank, Mr. Segun Treasury Bill Rate 13.35
Agbaje, said at a press confer-
ence before the commencement Savings Deposit Rate 4.08
of the fair that alongside the
1 Month Deposit Rate 8.86
unparalleled culinary experience,
it showcased the richness of 3 Months Deposit Rate 10.14
Africa’s food culture and the
vibrancy of the small businesses 6 Months Deposit Rate 11.51
involved in the industry.
12 Months Deposit Rate 11.40
“Apart from the amazing
experiences that we create for Prime Lending rate 17.69
our tens of thousands of guests,
it is the personal testimonials Maximum Lending Rate 31.20
that we receive from participants
that speak to the true value of
the initiative,” he said. ˾
ÙØÏÞËÜã
ÙÖÓÍã
ËÞÏ
̋
ͯͱϱ
Agbaje added: “Behind OPEC DAILY BASKET PRICE AS AT THURSDAY MAY 3, 2018
these small businesses are hard-
working fathers, enterprising The price of OPEC basket of fourteen crudes stood at $70.66 a barrel on Thursday,
mothers and incredibly pas- compared with $70.47 the previous day, according to OPEC Secretariat calculations.
sionate youths who when they
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend
share their remarkable stories
(Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light
of record sales at the fair, we
(Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait),
see not just the impact of our
Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia),
efforts at promoting enterprise
Murban (UAE) and Merey (Venezuela
but the immense capacity of our
organisation as a platform to
SOURCE: OPEC headquarters, Vienna
enriching lives.”
T H I S D AY ˾
˜


͵˜
ͰͮͯͶ 35

MARKET NEWS

NAHCO to Pay N406m Dividend as Firm Records Improved Results

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

P R I C E S F O R S E C U R I T I E S T R A D E D A S O F 0 4 / 0 5 / 2 0 1 8
MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED
PRICE TRADED ( N ) PRICE TRADED ( N)
36 ˜

Ϳ˜
ͺ͸͹Ͷ
˾
T H I S D AY

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

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THISDAY AFRINVEST 40 INDEX
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Price Weighting d Yield Yield
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ůŝŐŚƚ ŽĨ ƚŚŝƐ͕ ǁĞ ďĞůŝĞǀĞ ƚŚŝƐ ĐŽƵůĚ ĐŽŶƟŶƵĞ ƚŽ ĚŝĐƚĂƚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ŐůŽďĂů
ŵĂƌŬĞƚƐŝŶƚŚĞŶĞĂƌƚĞƌŵ͘ůƐŽ͕ŝŶƚŚĞĐŽŵŵŽĚŝƟĞƐŵĂƌŬĞƚ͕ŽŝůƉƌŝĐĞƐůŝĚϬ͘ϮйtͲŽ THISDAY AFRINVEST 40 1,739.07 0.01% 12.7% 73.9% 21.2% 7.7% 8.0x 1.0x 4.7% 11.8%
Ͳt ƚŽ h^Ψϳϯ͘ϰϰͬď ;ĂƐ ŽĨ ǁƌŝƟŶŐͿ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ Žŝů ƌĞŵĂŝŶƐ Ăƚ ŝƚƐ ŚŝŐŚĞƐƚ ůĞǀĞů 1 Guaranty Trust Bank PLC 45.30 0.2% 21.1% 11.2% 11.7% 32.6% 5.2% 7.4x 2.5x 6.0% 13.6%
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6 FBN Holdings Plc 7.0% 42.6% 42.8% 6.7% 0.8% 9.0x 0.7x 2.0% 11.1%
Ϭ͘ϲй tͲŽͲt ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ƚŚĞ ƌĞůĞĂƐĞ ŽĨ ƐŽŵĞ ƵŶŝŵƉƌĞƐƐŝǀĞ ƋƵĂƌƚĞƌůLJ
7 Access Bank PLC 11.30 0.0% 4.3% 8.1% 6.6% 12.7% 1.5% 5.6x 0.7x 5.8% 18.0%
ƌĞƐƵůƚƐ ĂƐ ǁĞůů ĂƐ ŐƵŝĚĂŶĐĞ ďLJ ƚŚĞ h^ &ĞĚ ƚŚĂƚ ŝŶŇĂƟŽŶ ĐŽƵůĚ ƌŝƐĞ ĨĂƐƚĞƌ ƚŚĂŶ
ĞdžƉĞĐƚĞĚ͘ 8 United Bank for Africa PLC 11.70 -0.4% 4.4% 13.6% 12.4% 15.9% 1.9% 5.2x 0.8x 7.3% 19.3%
9 Ecobank Transnational Inc 20.55 -1.2% 3.5% 20.9% 26.3% -14.6% -1.3% 6.8x 0.8x 3.0% 14.7%
/ŶŵĂƌŬĞƚƐŝŶƚŚĞƵƌŽƉĞĂŶĚƐŝĂĐůĂƐƐŝĮĐĂƟŽŶ͕ ,ŽŶŐ<ŽŶŐ͛Ɛ,ĂŶŐ^ĞŶŐǁĂƐƚŚĞ
10 SEPLAT Petroleum Development C 750.00 -2.0% 3.3% 19.8% 19.8% 22.3% 13.2% 3.9x 0.8x 2.4% 26.0%
ůŽŶĞůŽƐĞƌ͕ĚŽǁŶϭ͘ϮйĂƐŝŶǀĞƐƚŽƌƐƚƌĂĚĞĚĐĂƵƟŽƵƐůLJĨŽůůŽǁŝŶŐƵŶĐĞƌƚĂŝŶƟĞƐŽĨƚŚĞ
h^ͲŚŝŶĂ ƚƌĂĚĞ ƚĂůŬƐ͘ EŽŶĞƚŚĞůĞƐƐ͕ Ăůů ŽƚŚĞƌ ŝŶĚŝĐĞƐ ŝŶ ƚŚĞ ƐĞŐŵĞŶƚ ƚƌĞŶĚĞĚ 11 Stanbic IBTC Holdings PLC 49.50 0.0% 3.1% 19.3% 21.0% 28.9% 3.8% 9.4x 2.7x 1.0% 10.7%
ŶŽƌƚŚǁĂƌĚƐ͘  'ĞƌŵĂŶLJ͛Ɛ ydZ y ĂŶĚ &ƌĂŶĐĞ͛Ɛ  ϰϬ ƌŽƐĞ ϭ͘ϵй ĂŶĚ Ϭ͘ϲй 12 Unilever Nigeria PLC 52.50 0.0% 2.9% 28.0% 30.6% 19.2% 8.0% 28.1x 3.8x 1.0% 3.6%
ƌĞƐƉĞĐƟǀĞůLJtͲŽͲtǁŚŝůĞ:ĂƉĂŶ͛ƐEŝŬŬĞŝϮϮϱĐůŽƐĞĚƚŚĞǁĞĞŬŇĂƫƐŚ͘ 103.50 0.5%
13 Guinness Nigeria PLC 2.3% 10.1% 10.1% 15.4% 6.1% 19.7x 2.6x 0.6% 5.1%
14 Lafarge Africa PLC 42.00 0.0% 1.4% -6.4% -6.4% -36.8% -7.7% 2.3x 3.6% -14.7%
WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƚŚĞ Z/^ ŵĂƌŬĞƚƐ ǁĂƐ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ͘
ƌĂnjŝů͛Ɛ/ďŽǀĞƐƉĂƐŚĞĚϯ͘ϰйŽŶƚŚĞďĂĐŬŽĨůŽƐƐĞƐŝŶƚŚĞĮŶĂŶĐŝĂů͕ƌĞĂůĞƐƚĂƚĞĂŶĚ 15 Fidelity Bank PLC 2.42 -3.6% 1.1% -1.6% -6.2% 8.0% 1.1% 2.0x 0.3x 4.5% 49.9%
ĐŽŶƐƵŵĞƌ ŐŽŽĚƐ ƐĞĐƚŽƌƐ͘ ůƐŽ͕ ZƵƐƐŝĂ͛Ɛ Zd^ ĂŶĚ /ŶĚŝĂ͛Ɛ ^ ^ĞŶƐ ĨĞůů ϭ͘ϴй ĂŶĚ 8.35 -4.0%
16 Oando PLC 1.6% 39.4% 39.4% 9.4% 1.4% 10.4x 0.6x 9.6%
Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ tͲŽͲt͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ^ŽƵƚŚ ĨƌŝĐĂ͛Ɛ &d^ͬ:^ ůů ^ŚĂƌĞ
17 Dangote Sugar Refinery PLC 19.00 0.0% 1.0% -5.0% -6.7% 43.2% 19.8% 7.4x 2.9x 13.2% 13.5%
ĂŶĚ ŚŝŶĂ͛Ɛ ^ŚĂŶŐŚĂŝ ŽŵƉ ĂƉƉƌĞĐŝĂƚĞĚ Ϭ͘ϯй ĂƉŝĞĐĞ ĨƌŽŵ ƚŚĞ ƉƌĞǀŝŽƵƐ
18 Okomu Oil Palm PLC 81.00 3.1% 1.2% 19.7% 19.7% 39.7% 29.4% 8.1x 2.8x 3.7% 12.4%
ǁĞĞŬ͘  ^ŽƵƚŚ ĨƌŝĐĂ͛Ɛ ĞƋƵŝƚLJ ŵĂƌŬĞƚ ŐĂŝŶĞĚ ƚŚŝƐ ǁĞĞŬ ĨŽůůŽǁŝŶŐ ƚŚĞ ƐƵƐƚĂŝŶĞĚ
ǁĞĂŬĞŶŝŶŐ ŽĨ ƚŚĞ ZĂŶĚ ĂŐĂŝŶƐƚ ƚŚĞ ŽůůĂƌ ǁŚŝůĞ ƚŚĞ ^ŚĂŶŐŚĂŝ ĐŽŵƉŽƐŝƚĞ 19 International Brew eries PLC 51.80 9.1% 0.7% -5.0% -5.8% 24.6% 7.4% 54.2x 12.3x 1.8%
ƐƵƌƉƌŝƐŝŶŐůLJ ƌĞĐŽƌĚĞĚ ŐĂŝŶƐ ĚĞƐƉŝƚĞ ŝŶǀĞƐƚŽƌ ĨĞĂƌƐ ƟĞĚ ƚŽ ƚƌĂĚĞ ǁĂƌ ƵŶĐĞƌƚĂŝŶƟĞƐ 20 Flour Mills of Nigeria PLC 35.50 0.0% 0.7% 22.4% 22.4% 13.1% 3.0% 7.4x 0.9x 2.6% 13.5%
ĂƉƉƌĞŚĞŶƐŝŽŶƐ͘ 1.67 -2.3%
21 Transnational Corp of Nigeria 0.6% 14.4% 12.8% 11.2% 2.5% 10.2x 1.1x 1.2% 9.8%
^ŝŵŝůĂƌůLJ͕ ĨƌŝĐĂŶ ŵĂƌŬĞƚƐ ǁĞƌĞ ďĞĂƌŝƐŚ ĂƐ ŽŶůLJ ŽŶĞ ŝŶĚĞdž ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞͲ 22 UAC of Nigeria PLC 18.00 0.0% 0.5% 6.5% 6.5% 2.2% 0.8% 29.1x 0.7x 3.6% 3.4%
'ŚĂŶĂ͛Ɛ'^ŽŵƉŽƐŝƚĞ;нϬ͘ϰйͿͲĂƉƉƌĞĐŝĂƚĞĚtͲŽͲt͘ŐLJƉƚ͛Ɛ'yϯϬĂŶĚ<ĞŶLJĂ͛Ɛ 23 Diamond Bank PLC 2.11 1.4% 0.7% 40.7% 34.4% 2.5% 0.3% 8.5x 0.2x 11.7%
E^ ϮϬĨĞůůϭ͘ϲйĂƉŝĞĐĞ͕ůĂƌŐĞůLJ ĚƵĞƚŽ ƉƌŽĮƚƚĂŬŝŶŐ͘>ŝŬĞǁŝƐĞ͕ EŝŐĞƌŝĂ͛Ɛůů^ŚĂƌĞ 222.20 0.0%
24 Total Nigeria PLC 0.5% -3.4% -3.4% 25.0% 5.3% 10.7x 2.5x 7.7% 9.3%
/ŶĚĞdžƐůŝĚϬ͘ϭйĂƐŝŶǀĞƐƚŽƌƐŬĞĚƉƌŽĮƚŝŶƉƌĞǀŝŽƵƐĂĚǀĂŶĐĞƌƐ͘
25 FCMB Group Plc 2.56 1.6% 0.7% 62.0% 5.1% 0.8% 4.9x 0.3x 3.9% 20.5%
 26 11 PLC 180.40 -5.0% 0.4% -7.3% -7.3% 30.8% 11.0% 6.5x 2.4x 15.4%
27 Forte Oil PLC 43.00 0.0% 0.4% -1.1% 2.4% 17.6% 1.6% 23.2x 3.6x 4.3%
ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚZĞǀŝĞǁĂŶĚ KƵƚůŽŽŬ͗ƵLJ /ŶƚĞƌĞƐƚ ŝŶ DŝĚ ĂŶĚ >ĂƌŐĞ
28 PZ Cussons Nigeria PLC 22.50 0.0% 0.4% 9.2% 6.4% 10.7% 5.0% 21.3x 2.2x 2.2% 4.7%
ĂƉ^ƚŽĐŬƐƚŽƵŽLJWĞƌĨŽƌŵĂŶĐĞŝŶŽŵŝŶŐtĞĞŬ
29 Cadbury Nigeria PLC 13.15 0.0% 0.3% -16.1% -15.7% 2.0% 0.8% 61.4x 2.1x 1.2% 1.6%
WĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞEŝŐĞƌŝĂŶĞƋƵŝƟĞƐŵĂƌŬĞƚ ǁĂƐůĂƌŐĞůLJ ďƵůůŝƐŚ ƚŚŝƐǁĞĞŬĂƐƚŚĞ
30 Presco PLC 70.00 -0.7% 0.3% 2.2% 2.2% 39.7% 28.0% 2.9x 0.9x 2.9% 34.4%
ůů^ŚĂƌĞ/ŶĚĞdž;^/ͿĂƉƉƌĞĐŝĂƚĞĚŽŶϯŽĨϰƚƌĂĚŝŶŐƐĞƐƐŝŽŶƐŝŶƚŚĞǁĞĞŬ͘,ŽǁĞǀĞƌ͕
31 NASCON Allied Industries PLC 21.40 4.4% 0.3% 15.7% 11.3% 54.6% 19.5% 10.1x 4.9x 7.0% 9.9%
tͲŽͲt ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ƐŚĞĚ Ϭ͘ϭй ƚŽ ƐĞƩůĞ Ăƚ ϰϭ͕Ϯϭϴ͘ϳϮ ƉŽŝŶƚƐ ǁŚŝůĞ zd
ƌĞƚƵƌŶ ƐƚŽŽĚ Ăƚ ϳ͘ϴй͘ ^ŝŵŝůĂƌůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĚĞĐƌĞĂƐĞĚ ďLJ Eϵ͘ϱďŶ ƚŽ 32 UPDC Real Estate Investment Tr 10.00 0.0% 0.3% 0.0% 0.0% 0.8x 7.2%
Eϭϰ͘ϵƚŶ͘dŚĞǁĞĞŬ͛ƐŶĞŐĂƟǀĞƉĞƌĨŽƌŵĂŶĐĞǁĂƐůĂƌŐĞůLJĚƌŝǀĞŶďLJƐĞůůŽīƐŝŶůĂƌŐĞ 33 Union Bank of Nigeria PLC 6.70 0.0% 0.3% -14.1% -10.8% 5.6% 1.2% 8.6x 0.4x 11.7%
ĐĂƉ ƐƚŽĐŬƐ ʹ E^d> ;Ͳϭ͘ϮйͿ͕ E/'Z/E ZtZ/^ ;ͲϬ͘ϴйͿ ĂŶĚ ^W>d ;ͲϮ͘ϬйͿ͘ 28.05 0.0%
34 Julius Berger Nigeria PLC 0.3% 0.2% 0.2% 17.3% 1.8% 7.8x 1.2x 3.6% 12.9%
KŶƚŚĞĐŽŶƚƌĂƌLJ͕ĂĐƟǀŝƚLJůĞǀĞůŝŵƉƌŽǀĞĚĂƐĂǀĞƌĂŐĞǀŽůƵŵĞĂŶĚǀĂůƵĞƚƌĂĚĞĚƌŽƐĞ
35 Sterling Bank PLC 1.65 -0.6% 0.3% 52.8% 46.0% 9.0% 0.9% 4.9x 0.5x 1.2% 20.2%
ϯ͘ϳй ĂŶĚ ϲ͘ϳй ƚŽ ϯϯϮ͘ϳŵ ƵŶŝƚƐ ĂŶĚ Eϱ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ǁĞĞŬ͛Ɛ ƚŽƉ ƚƌĂĚĞĚ
ƐƚŽĐŬ ďLJ ǀŽůƵŵĞ ĂƌĞ h ;Ϯϭϳ͘ϬŵͿ͕ DE&/d ;ϭϯϮ͘ϱŵͿ ĂŶĚ ^^ ;ϭϬϴ͘ϰŵͿ 36 Dangote Flour Mills Plc 11.40 -0.4% 0.2% -6.2% -6.2% 61.6% 15.8% 3.7x 1.6x 1.8% 27.1%
ǁŚŝůĞE'D;Eϯ͘ϲďŶͿ͕'hZEdz;EϮ͘ϴďŶͿĂŶĚh;EϮ͘ϱďŶͿ ǁĞƌĞƚŚĞƚŽƉ 37 GlaxoSmithKline Consumer Niger 24.00 0.0% 0.2% 11.1% 11.1% 61.2% 23.6% 37.9x 1.8x 31.4% 2.6%
ƚƌĂĚĞĚďLJǀĂůƵĞ͘ 38.75 0.0%
38 Chemical and Allied Products P 0.2% 14.0% 8.5% 66.2% 30.2% 18.1x 12.1x 5.3% 5.5%
dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƐƚĂƌƚĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ͕ ĞdžƚĞŶĚŝŶŐ ŐĂŝŶƐ ĨƌŽŵ ƚŚĞ 39 Beta Glass PLC 83.20 5.0% 0.2% 62.2% 62.2% 18.4% 11.9% 11.7x 2.0x 1.3% 8.5%
ƉƌĞǀŝŽƵƐ &ƌŝĚĂLJ ĂƐ ƚŚĞ ^/ ƌŽƐĞ ϲďƉƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ Ͳ 40 Transcorp Hotels Plc 7.45 0.0% 0.1% 3.3% 3.3% 5.3% 2.9% 19.5x 1.0x 1.8% 5.1%
'hZEdz͕E'DĂŶĚ&E,͘&ŽůůŽǁŝŶŐƚŚĞƌĞƐƵŵƉƟŽŶŽĨƚƌĂĚŝŶŐĂĐƟǀŝƟĞƐ
T o p 10 G a ine r s T o p 10 T r a d e s b y V o l u m e
ŽŶ tĞĚŶĞƐĚĂLJ͕ ƚŚĞ ďƵůůŝƐŚ ƌƵŶ ǁĂƐ ƐƵƐƚĂŝŶĞĚ ĂƐ ƚŚĞ ^/ ŝŶĐƌĞĂƐĞĚ ϵďƉƐ ĚƵĞ ƚŽ
ŐĂŝŶƐŝŶhE͕ϭϭW>ĂŶĚh͘,ŽǁĞǀĞƌ͕ŽŶdŚƵƌƐĚĂLJ͕ƚŚĞďƵůůŝƐŚƌƵŶǁĂƐŚĂůƚĞĚ T ic k er P ric e P ric e C hg % T ic k er Vo lum e P ric e C hg %

ĂƐƉƌŽĮƚƚĂŬŝŶŐŝŶůĂƌŐĞĐĂƉƐƚŽĐŬƐĚƌĂŐŐĞĚƚŚĞďĞŶĐŚŵĂƌŬŝŶĚĞdžϰϴďƉƐůŽǁĞƌ͘dŽ IN T B R EW 51.80 9.1% A C C ESS 40.5 0.0%

ĐůŽƐĞƚŚĞǁĞĞŬ͕ƚŚĞŵĂƌŬĞƚƌĞďŽƵŶĚĞĚ͕ƵƉϮϳďƉƐ͘ C ILEA SIN G 1.80 7.8% C ILEA SIN G 31.5 7.8%

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

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

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

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

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

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

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

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

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¯NjÞŘɚsǣǼǢsOȖNjÞǼÞsǣĵÞŎÞǼs_ʹNJN˥˟ˢˢˠˤʺ ɴŸ_sĠÞrEŸʿsEŸ˔¯NjÞŘɚsǣǼʳOŸŎ NJŸEsNjǼŷŎŸǼȖŘ_sʿNjŸŎŸǼȖŘ_s˔¯NjÞŘɚsǣǼʳOŸŎ
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˾
MONDAY, MAY 7, 2018 37

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

A Mutual fund (Unit Trust) is an investment
vehicle managed by a SEC (Securities and
Exchange Commission) registered Fund Manager.
Investors with similar objectives buy units of the
Fund so that the Fund Manager can buy securities
that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type
of fund which owns the assets (shares of stock,
bonds, oil futures, gold bars, foreign currency,
etc.) and divides ownership of those assets into
shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange.
A REIT (Real Estate Investment Trust) is an
investment vehicle that allows both small and
large investors to part-own real estate ventures (eg.
Offices, Houses, Hospitals) in proportion to their
investments. The assets are divided into shares that
are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at
03-May-2018, unless otherwise stated.
Offer price: The price at which units of a trust or
ETF are bought by investors.
Bid Price: The price at which Investors
redeem (sell) units of a trust or ETF.
Yield/Total Return: Denotes the total
return an investor would have earned on
his investment. Money Market Funds report
Yield while others report Year- to-date Total
Return.
NAV: Is value per share of the real estate
assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS LOTUS CAPITAL LTD fincon@lotuscapitallimited.com
AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624
Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.18 1.20 3.06%
Afrinvest Equity Fund 194.21 195.38 9.39% Lotus Halal Fixed Income Fund 1,051.95 1,051.95 4.43%
Nigeria International Debt Fund 245.02 246.23 6.17% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com
ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com
Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260
Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn
ACAP Canary Growth Fund 0.87 0.88 5.72% Meristem Equity Market Fund N/A N/A N/A
ACAP Income Funds 0.66 0.66 9.57% Meristem Money Market Fund N/A N/A N/A
AIICO CAPITAL LTD ammf@aiicocapital.com PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com
Web: www.aiicocapital.com, Tel: +234-1-2792974 Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632
Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn
AIICO Money Market Fund 100.00 100.00 13.80%
ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com PACAM Balanced Fund N/A N/A N/A
Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) PACAM Fixed Income Fund N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Money Market Fund N/A N/A N/A
ARM Aggressive Growth Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com
ARM Discovery Fund N/A N/A N/A Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227
ARM Ethical Fund N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn
ARM Money Market Fund N/A N/A N/A
AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com SCM Capital Frontier Fund 132.10 134.66 2.66%
Web: www.axamansard.com; Tel: +2341-4488482 SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com
Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.sfsnigeria.com, Tel: +234 (01) 2801400
AXA Mansard Equity Income Fund 160.56 161.69 5.85% Fund Name Bid Price Offer Price Yield / T-Rtn
AXA Mansard Money Market Fund 1.00 1.00 12.86% SFS Fixed Income Fund 1.56 1.56 5.24%
CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com
Web: www.chapelhilldenham.com, Tel: +234 461 0691 Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS
Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn
Chapelhill Denham Money Market Fund 100.00 100.00 13.91% Stanbic IBTC Balanced Fund 2,404.14 2,424.90 7.20%
Paramount Equity Fund 12.12 12.43 9.31% Stanbic IBTC Bond Fund 185.37 185.37 5.06%
Women's Investment Fund 103.43 106.07 2.78% Stanbic IBTC Ethical Fund 1.09 1.10 8.42%
CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Stanbic IBTC Guaranteed Investment Fund 233.31 233.38 5.95%
Web: www.cordros.com, Tel: 019036947 Stanbic IBTC Iman Fund 187.92 189.92 4.90%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund 100.00 100.00 13.42%
Cordros Money Market Fund 100.00 100.00 14.02% Stanbic IBTC Nigerian Equity Fund 10,367.97 10,507.75 7.21%
CORONATION ASSEST MANAGEMENT investment@coronationam.com Stanbic IBTC Dollar Fund (USD) 1.09 1.09 2.63%
Web:www.coronationam.com , Tel: 012366215 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com
Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887
Coronation Money Market Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
Coronation Balanced Fund N/A N/A N/A United Capital Balanced Fund 1.35 1.36 0.76%
Coronation Fixed Income Fund N/A N/A N/A United Capital Bond Fund 1.65 1.65 5.63%
FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com United Capital Equity Fund 0.98 1.00 7.47%
Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 United Capital Money Market Fund 1.00 1.00 13.02%
Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Eurobond Fund 105.56 105.56 2.59%
FBN Fixed Income Fund N/A N/A N/A United Capital Wealth for Women Fund 1.14 1.15 4.79%
FBN Heritage Fund N/A N/A N/A ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com
FBN Money Market Fund N/A N/A N/A Web: www.zenith-funds.com; Tel: +234 1-2784219
FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A Zenith Equity Fund 13.47 13.68 7.31%
FBN Nigeria Smart Beta Equity Fund N/A N/A N/A Zenith Ethical Fund 20.03 20.03 49.96%
FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Zenith Income Fund 13.96 14.13 -25.49%
Web: www.fcamltd.com; Tel: +234 1 462 2596 Zenith Money Market Fund 1.00 1.00 14.07%
Fund Name Bid Price Offer Price Yield / T-Rtn
Legacy Equity Fund 1.41 1.44 8.04% REITS
Legacy Debt Fund 3.02 3.02 4.58% Fund Name NAV Per Share Yield / T-Rtn
FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com FSDH UPDC Real Estate Investment Fund 10.00 -11.35%
Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 SFS Skye Shelter Fund 134.83 1.79%
Fund Name Bid Price Offer Price Yield / T-Rtn
Coral Growth Fund N/A N/A N/A EXCHANGE TRADED FUNDS
Coral Income Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Lotus Halal Equity Exchange Traded Fund 12.67 12.77 4.50%
Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 SIAML Pension ETF 40 162.32 165.73 13.63%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC ETF 30 Fund 120.36 122.56 10.15%
Greenwich Plus Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com
INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.vetiva.com; Tel: +234 1 453 0697
Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund N/A N/A N/A
Abacus Money Market Fund 1.00 1.00 13.01% Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A
Vantage Balanced Fund 2.21 2.24 4.82% Vetiva Griffin 30 Exchange Traded Fund N/A N/A N/A
Vantage Guaranteed Income Fund 1.00 1.00 15.64% Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A
Kedari Investment Fund (KIF) 120.22 120.64 4.55% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on
each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
T H I S D AY ˾
˜


͵˜
ͰͮͯͶ 39

CITYSTRINGS

As a matter of fact, we recorded only

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

Although we don’t have

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


͵˜
ͰͮͯͶ
T H I S D AY MONDAY MAY 7, 2018 45
46 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 47
48 T H I S D AY MONDAY MAY 7, 2018

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

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50 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 51
52 T H I S D AY MONDAY MAY 7, 2018
T H I S D AY MONDAY MAY 7, 2018 53
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56 MONDAY, MAY 7, 2018˾
T H I S D AY

INTERNATIONAL email:foreigndesk@thisdaylive.com

Iran’s Rouhani Warns Trump of ‘Historic

Regret’ over Nuclear Deal
Says plans in place for any Trump decision on nuclear deal
Iranian President Hassan
Rouhani has warned that the
US will face “historic regret”
if Donald Trump scraps the
nuclear agreement with Tehran,
according to BBC.
Rouhani was reported by
Reuters as saying on Sunday
Iran had plans to respond to
any move by U.S. President
Donald Trump on the 2015
nuclear agreement and the
United States would regret
a decision to exit the accord.
His comments come as the
US president decides whether
to pull out of the deal by a 12
May deadline.
Trump has strongly criticised
the agreement, calling it
“insane”.
The 2015 deal - between
Iran, the US, China, Russia,
Germany, France and the
UK - lifted sanctions on Iran
in return for curbs on its nuclear
programme.
France, the UK and Germany
have been trying persuade the
US president that the current
deal is the best way to stop Iran
developing nuclear weapons.
British Foreign Secretary
Boris Johnson is travelling to
Washington on Sunday to
discuss the matter with White
House officials.
The UN also warned Mr
Trump not to walk away from
the deal.
However, he has threatened
that the US will “withdraw”
from the deal on 12 May -
the end of a 120-day review
period - unless Congress and
European powers fixed its
“disastrous flaws”.
In remarks carried live on
Iranian state television on
Sunday, President Rouhani
said: “If America leaves the
nuclear deal, this will entail
historic regret for it.”
He warned Iran had “a
plan to counter any decision
Trump may take and we will
confront it”.
Iran insists its nuclear
programme is entirely peaceful
and says it considers the deal
non-renegotiable.
Last week, Israel revealed
“secret nuclear files” which it
said showed Iran had run a
clandestine nuclear weapons
programme before 2003, and
had secretly retained the
technological know-how,
in breach of the agreement.
Iran branded Israeli Prime
Minister Benjamin Netanyahu
a liar and said the documents
he produced were a rehash of
old allegations already dealt
with by the International
Atomic Energy Agency (IAEA),
the UN’s nuclear watchdog.
But US Secretary of State
Mike Pompeo said the
documents were authentic
and showed the 2015 Iran
nuclear deal was “built on
lies”.
Trump is already unhappy
that the current deal only
limits Iran’s nuclear activities
for a fixed period and does
not stop the development of
ballistic missiles.
He also said it had handed
Iran a $100bn (£72bn) windfall
that it used “as a slush fund
for weapons, terror, and op-
pression” across the Middle
East.
Economic assets frozen
by sanctions were returned
to Iran under the terms
of the deal. Iran has
consistently denied US
claims that it sponsors
militant groups.
MONDAY, MAY 7, 2018˾
T H I S D AY
NEWS
Quest to Visit Lagos by British
Tourists Rises by 96%
Ranked 13th most visited non-European destination
Gboyega Akinsanmi

The demand to spend summer
holidays in Lagos State by British
tourists and visitors has risen
by 96 per cent between 2017
and 2018, according to a report
by KAYAK, one of the world’s
foremost travel organisations.
KAYAK, an independently
managed subsidiary of Booking
Holdings Inc, issued the report at
the weekend covering searches
made by British tourists and
visitors for holidays beyond
Europe in the last two years.  summers, the report said Lagos
Specifically, the report ranked
Lagos, a widely acknowledged
model megacity, 13th non-
European destination, thereby
making the city-state Africa’s
choicest destination, especially
for British tourists and visitors.
Unlike previous years, as the
report analysed, Lagos is more
popular than Los Angeles, Las
Vegas, San Francisco, Chicago,
Boston, Ibiza and Prague, all
of which had drastically fallen
out of tourists’ favour.
However, tourists’ demand
to spend summer holidays in
Nairobi and Mombasa, both in
I Have No Plan to Dump
APC, Ortom Restates
Governor Samuel Ortom of
Benue State has again denied
any plan to dump the All
Progressives Congress (APC).
The denial was contained
in a statement by his Chief
Press Secretary, Mr. Terver
Akase, issued to journalists
in Makurdi.
It said a media report on
the governor’s purported plan
to leave the APC was false,
misleading and  handiwork
of detractors playing politics
with the blood of the people.
”We read a report in
a national daily of today
(yesterday) which named Benue
State Governor, Ortom as one
of the APC leaders planning to
defect to another political party.
”The report which is
obviously sponsored is not only
false but also misleading. The
governor has no intention to
leave APC for another party
and has not consulted anyone
on the matter.”
The statement stressed that
Ortom, enjoys a cordial working
relationship with other leaders
of the party both at the local,
state and national levels.
It said the main focus of the
governor is to deliver greater
benefits of democracy to his
people including tackling the
security challenges confronting
them.
“There is no cause to warrant
his defection to another party,”
the statement stated.
It explained that Ortom’s
stance of seeking justice over
the invasion, killings and
wanton destruction of property
by suspected herdsmen was
what any good leader ought
to do.
The statement said the
governor was appreciative
Kenya, respectively rose by 156
per cent and 181 per cent, the
report ranked the former 15th
non-European destination for
Britons, two steps behind the
city-state of Lagos.   and resources being deployed in
In an analysis that sampled
the 2017 summer holiday
searches, the report said
Lagos “is not far behind by all
standards. Searches for trips to
the city-state of Lagos city have
shot up 96 per cent, compared
to 2017.”
When compared to previous
“has also made huge strides,
moving from 31st place to
13th when it comes to overall
demand. And Johannesburg is
up one place from 22nd to 21st.”
The ranking of Lagos might
not be unconnected with a recent
survey that showed a significant
improvement in what tourism
sector contributed to the state’s
gross domestic product (GDP)
in 2017.
At a summit fortnights ago,
the state Governor, Akinwunmi
Ambode, disclosed that tourism
sector contributed $2.2 billion
(equivalent to N800 billion) to
of the efforts being made by
President Muhammadu Buhari
in ending the conflicts in the
state.
According to the statement,
the governor was fully aware
that the killings in Benue State
began during the past PDP-led
administrations in the state.
”It must be noted that the
killings predate the APC
as a party and the present
administration. The governor’s
focus is on solving the problem
in collaboration with other
stakeholders.”
It added: “Fortunately,
President Buhari has responded
positively by sending troops
and other security operatives to
chase away the armed militia
from Benue communities.”
The statement further
dismissed insinuations that
Ortom had fallen out of favour
with other leaders of APC in
the state, including Senator
George Akume.
“The report is aimed at
creating acrimony between
the governor and the senator.
“Ortom was popularly
elected to lead Benue State
and he has demonstrated
uncommon commitment
and selflessness in justifying
the confidence reposed in him.
“He, will therefore, not be
distracted by baseless reports
and rumour of defection.
”What is of greater concern
to the governor now is how to
stop the killings in the state and
also tackle the humanitarian
crisis that has displaced nearly
500,000 people.’’
It stated that the government
was collaborating with the
federal government on the
rehabilitation and resettlement
of the displaced persons.
the state’s GDP in 2017, thereby
representing 0.016 percent of
the GDP.
With the state’s increased
spending on iconic infrastructure
the sector, the governor hoped
that the figure “will  double or
treble in the next five years.
“The enormous resources we
have deployed in physical and
social infrastructure across the
state will begin to crystallise by
December into mega structures
that will support tourism and
market our state as a smart
destination.”
In the case of Kenya, however,
the report revealed that Britons
chose to spend holidays beyond
the continent in July and August
2017, noting that the demands
for trips to Nairobi “are up 156
per cent - and to Mombasa on
the Kenyan coast by 181 per
cent.
“Nairobi had shot up the
UNWINDING
L-R: Ogun State Governor, Senator Ibikunle Amosun, his wife, Olufunso; Minister of Finance, Mrs. Kemi Adeosun; and Senator Daisy
Danjuma, at the day-two of Lagos Bridal Fashion week 2018 in Lagos....weekend
Ishaku Differs with Buhari, Says Herdsmen are
Gun-wielding
Paul Obi ÓØ
ÌßÔË

Taraba State Governor, Darius
Ishaku, yesterday differed with
President Muhammadu Buhari
on the statement that herdsmen
do not carry guns.  Gadaffi
Ishaku spoke in Abuja when
he received an award from the
Nigerian Medical Association
(NMA) in Abuja on health care
service delivery.
The governor explained that
due to the continuing attacks
by Fulani herdsmen, the health
sector in the state has been
affected negatively.
Ishiaku maintained that
herdsmen carry arms and not
sticks as the president would
want the whole world to believe.
Buhari had told his American
audience during the bilateral
talks with United States
ÏáÝ
ÎÓÞÙÜ
Davidson Iriekpen
×ËÓÖ
davidson.iriekpen@thisdaylive.com, 08111813081
rankings in popularity (judged
by searches) from 48th in 2017
to 15th in 2018. Demand for
trips to Mombasa have nearly
tripled in just one year,” the
KAYAK report disclosed.
According to the report, it is
now Britain’s 44th most popular
international holiday destination
for this summer - just behind
Cape Town - having previously
not featured close to the top 100.
The report noted that the
top three most popular non-
European destinations for Brits
“are New York, then Orlando
and in third place is Colombo
in Sri Lanka, with its tourism
boom continuing after decades
of civil war.
“Manila in the Philippines,
meanwhile, has also stormed
into the top 10 and is now the
sixth most popular international
holiday destination, with a year-
on-year increase of 69 per cent.
India also saw solid gains in
President, Donald Trump,
that the Fulani herdsmen that
he knew did not carry guns,
blaming the killings on returning
militia who had been armed by
the late Libyan leader, Mummar
Ishaku observed that
there must have been some
contradiction, wondering if they
don’t carry arms as claimed by
the president, then who are the
ones brandishing AK47 rifles
and killing locals.  Speaking on the NMA
Ishaku contended that Buhari’s
statement was “absolutely not
correct.”
“I mean who kills who? They
cannot be imaginary. People are
being killed with AK 47 rifles
and we have to stand up and
do something to stop it.
“The insecurity has certainly
put a lots of pressure on our
demand, with Chennai up 57
per cent and Mumbai up 30
per cent.”
When it comes to Europe,
the report said the two biggest
trends for this summer “are the
resurgence of Turkey and the
increasing popularity of Eastern
Europe.
“Istanbul has seen demand
increase by 114 per cent this
summer compared to last
year, rising from the 29th most
popular European destination
to eighth.
“Meanwhile, Antalya in
Turkey has seen demand
increase by 92 per cent,
climbing to 19th place, having
previously been out of the
top 50. Bodrum, on Turkey’s
Southwest coast, has seen its
demand increase by 45 per
cent, placing it 39th overall,”
the report said.
However, according to the
report, the European destination
health care facilities, much more
than we anticipated and we have
almost 150,000 displaced persons
“In the North-east, Taraba
State used to be   relatively
peaceful before now. We are
having our own share of the
herdsmen problem and that has
added a lot of pressure on our
health services. Which means
we have to do more, we have
to employ more doctors, nurses
and specialists.”
award, Ishaku said it would
only motivate him and his
administration to do more.  Ibrahim Gaidam of Yobe State,
“This award is very elevating,
it is an award that will spur us
to do more. You know we are
on our first term, and this is
my third year in office.
“We are reconstructing or
rehabilitating three hospitals in
57
that has seen its popularity
increase the most for this
summer compared to last year
is Bucharest in Romania, which
has jumped from 46th place to
15th thanks to a huge increase
in demand of 125 per cent.
Also in Eastern Europe, the
report revealed that Tirana, the
Albanian capital, “has seen
demand soar by 76 per cent,
moving up to 17th from 41. The
strongest demand at Kayak.
co.uk overall this summer in
Europe has been for traditional
favourites Alicante, followed
by Malaga and Faro.
“The destinations that are
falling out of favour include
Ibiza (down 42 per cent),
Prague (down 42 per cent),
Los Angeles (down 32 per
cent), San Francisco (down 35
per cent), Las Vegas (down 40
per cent), Chicago (down 33
per cent) and Boston (down
45 per cent).”
the three senatorial zones of the
state and we are putting some
of the local government unit in
shape. Most importantly, we are
equipping them as much as we
can with modern equipment. 
“So I’m surprised that the
NMA has noticed so quickly
what we are doing in just three
years. We thank God and we
will do more to keep our people
healthy. Health is wealth,” he
said. 
The governor alongside two of
his counterparts, Governor Aminu
Tambuwal of Sokoto State and
were among the dignitaries who
received the awards.
Also, the wife of Kebbi State
Governor, Dr. Zainab Shinkafi-
Bagudu, received the NMA award
for her contribution to health care
service delivery. 
58
Don’t Turn to Propaganda Poster Boy, PDP
Tells Osinbajo
Says Buhari’s Second term will further divide, impoverish Nigerians
Secondus: EFCC out to tarnish my name
Onyebuchi Ezigbo
ÓØ
ÌßÔË

The  Peoples Democratic Party
(PDP) has asked Vice-President
Yemi Osinbajo  not to belittle
his high office by allowing
himself to be used as poster
boy to bandy figures and make
unsubstantiated statements
against the opposition.
PDP in a statement issued
yesterday by its National
Publicity Secretary, Kola
Ologbondiyan, said Nigerians,
particularly the younger
generation, were thoroughly
disappointed in Osinbajo for
allowing himself to be used
to divert attention “from the
impunity and corruption that
saturate the All Progressive
Congress APC-led federal
government.”
While reacting to the
comments made by the vice
president at the APC ward
congress in Lagos, PDP  said
as a professor of law, and an
occupant of the exalted seat of
the vice president of the country,
Osinbajo should know better
than allowing himself to be
used to bandy figures and
make unguarded statements
at public events.
“We note that the vice
president has refused to heed
wise counsel and accord respect
to his office by desisting from
such unguarded comments
only because he has been
sucked in and entangled in the
Herdsmen-Farmers’ Clash:
Okowa Makes Case for
Ranching
Delta State Governor, Dr. Ifeanyi
Okowa, has said ranching will
put to a stop clashes between
Fulani herdsmen and farmers
in the country.
He made the suggestion
yesterday at the third session
of the 12th Synod of the Diocese
of Warri, Anglican Communion,
held at St. Peter’s Anglican
Church, Ekpan, Uvwie Local
Government Area of Delta State.
According to the governor,
“Herdsmen/farmers clash is a
ÙÕÙÔË
Dino Melaye.   “He was denied completely
national problem, as a state, we
are trying to bring the casualties
to the barest minimum, as a
country, we must go into
ranching of our cattle.
“It is our hope that necessary
actions will be taken for us to
go into ranching, we cannot
continue to allow our cattle
to be roaming around.”
Okowa, who was
accompanied to the service
by the Speaker of the state
House of Assembly, Hon. Sheriff
Oborevwori; state Chairman of
the Peoples Democratic Party
(PDP), Mr. Kingsley Esiso,
among others, disclosed that  Diocese of the Anglican
machinery are in motion for any
one who hides under the guise
of youths to extort money from
property developers and law
abiding citizens to be prosecuted
and jailed if found guilty.
“We have sent a bill to the
Delta State House of Assembly
propaganda, deception, impunity
and sleazes that not only brought
their administration to power,
but have become its trademarks
in the last three years,” it said.
PDP said Nigerians should
note that all assertions by
the vice president, especially
on the performance of the
President Muhammadu Buhari
administration as well as his
allegations and bandying of
figures against the opposition,
have remained unsubstantiated.  want Nigerians to believe when
The party further said
Osinbajo, in his ‘sanctimony,’
has been silent on the exposed
corruption under the Buhari
administration, including the
leaked memo detailing N9
trillion corrupt oil contracts
at the NNPC, exposed sleazes
in oil subsidy deals, diversion
of Internally Displaces Persons
(IDP) intervention funds.
According to the PDP, other 
alleged sleazes under APC
watch include the probe of a
misappropriated N18billion
in National Emergency
Management Agency (NEMA)
under his direct supervision
as well as other looting in
government agencies such as
the National Health Insurance
Scheme (NHIS).
“The vice president is also
ominously silent about the
prevailing high-handedness
and human rights violations and
the aloofness of the government
resulting in daily bloodletting in
which will criminalise ‘deve’
(extortion) by youths and
anyone who is found guilty
will go to jail,” the governor
stated, adding that, “any one
who is caught causing trouble,
no matter how highly placed
you are or who your sponsors
are, will face the wrath of the
law, we like the peace we are
enjoying in the state.”
The governor also called for
collective efforts to ensure clean
environment, observing that
while it is the duty of local
government councils to ensure
clean council areas, it was the
duty of all Deltans to dispose
their refuse appropriately.
He lauded the theme for
the Synod, ‘Work out your
salvation with fear and
trembling,’ stating that, “our
God is holy, our call is holy,
it is important for us to know
that it is the one who does
the will of the father that will
enter His kingdom, we should
use our lifestyle to carry out
evangelism.”
Earlier, the Bishop of Warri
Communion,  Rt. Rev.
Christian Ide, had commended
the development strides of
Okowa’s administration while
Bishop Johnson Ekwe had in
a sermon urged Christians to
be prayerful not to fall into
temptation.
MONDAY, MAY 7, 2018˾
T H I S D AY
NEWSXTRA
various parts of our country,” attempting to sway Nigerians the benefit of the people in mediocrity in governance;
it added. with cosmetic patriotism.  the last three years. de-marketing Nigeria at
Also, the PDP said if President “What President Buhari’s “President Buhari’s second international fora and to blame
Buhari is allowed  by Nigerians handlers fail to understand term agenda is directly a quest everyone else but himself for
to come back after a horrible is that Nigerians, being to continue to enrich the manifest incapacity to govern.
first term, he will further divide direct victims of his misrule, presidency cabal, promote Meanwhile, the Chairman of
and impoverish the people. are aware that the harsh nepotism and protect cronies the party, Uche Secondus, has
The opposition party said and reckless policies of his and corrupt members of the frowned at the  action of the
President Buhari’s first term incompetent administration, APC from the long arms of Economic and Financial Crimes
score card showed anti-people coupled with his body the law. Commission (EFCC) which he
policies and failure to serve the language, are expressly “President Buhari’s second said has continued to link him
good of the ordinary citizens, responsible for the untold term is also a quest to continue to have collected money from
contrary to what he would economic hardship, ethnic to ignore and destroy democratic the former National Security
division and daily bloodletting principles; to continue trampling Adviser (NSA),  Col. Sambo
he spoke at the All Progressives currently ravaging our nation,” on the rights of citizens and Dasuki (rtd), when the matter 
Congress (APC) ward congress it said. persecution of opposition and is already before the court.
in Daura, Katsina State last According to the PDP, if perceived political opponents; Secondus in  a letter sent
Saturday. indeed the president was to continue the derailing of to the acting Chairman of the 
It said it was unfortunate out to serve, as he claimed democracy with manifest EFCC, Mr. Ibrahim Magu,
that the same President, who, at the APC congress, he should disdain for constitutional complained bitterly of the
in an interview with Voice of show any of his 2015 campaign order; to continue with the continued linking of his name 
America (VOA) last week, promises that he has fulfilled intimidation and harassment with collecting money from
could not present any agenda or any development project of the legislature and the Dasuki when nothing of such
to justify his re-election bid, is initiated and implemented to judiciary; perpetuation of ever happened.
PEER REVIEW VISIT
Group Managing Director/CEO, Access Bank Plc, Mr. Herbert Wigwe (left); and Managing Director/CEO, Development Bank of Nigeria
Plc., Mr. Tony Okpanachi, during a courtesy visit by the Access Bank team to Headquarters of Development Bank in Abuja...recently
Rights Group Frowns at Arbitrary Arrest, Detention of
Melaye’s Security Detail 
Yekini Jimoh ÓØ

down on Melaye and every
“Melaye’s orderly and the access to his family and to be establishment around him
The National Coordinator Justice policemen that were with him his wife. This is a total mockery under a supposed democratic
and Freedom Watch, Chief Segun have been held in custody since of our rule of law, human rights government.  
Owoeye, has frowned at the April 23, 2018, on the others and constitutionalism. His words: “In view of the
arbitrary arrest and unlawful from above for no just reason.   “For what could they have continued detention of the
detention of Senator Dino “We were all aware of the done that even Melaye’s those officers, we therefore,
Melaye’s orderly and his security brutal invasion of   Melaye’s orderly who was to have demand their immediate release
detail by the police.  home in Abuja, where over his wedding engagement from unlawful detention camp.
  This was contained in a 150 heavily armed fierce-looking yesterday, but police kept him   “It is unacceptable,
statement issued yesterday and policemen laid siege in his home. in detention for no reason,” disgraceful and professionally
made available to THISDAY in In the course of this display of he stated.   deficient for police authorities
Lokoja.   force, a senior police officer came He said: “Up till this to detain those officer who are
According to him,  the to Melaye’s home and arrested moment, no single offence has only carrying out their official
continued anti-Melaye script the policemen on duty in his been communicated to them assignment without any valid
just to silence him at all cost house including his orderly to show cause of there arrest, justification or reason.  “They
did not spare even the police  without any offence or justified no single official statement have been in detention now
security men attached to him reason.  has been made from Police for 14 days,  Melaye’s alleged
within the last two weeks and “It will interest Nigerians Force Headquarters, Abuja, offence shouldn’t have led to
the display of lawlessness by and the entire world to or by FCT  police command, their arrest if the police respect
the Nigerian Police.  know that Melaye’s orderly yet they were detained.”  the law of the land. 
“Our attention has been was supposed to have his The national coordinator “We call on the media, civil
brought to the arbitrary arrest ‘wedding engagement’ added that desperation society organisations, NBA,
and unlawful detention of police yesterday, (Saturday) but has of the police under this Amnesty International, human
officers and orderly attached to been in detention since April government has demonstrated rights partners and Nigerians to
the Chairman Senate committee 23, 2018, when they arrested to  Nigerians that they once again, rise up against this
on FCT and Kogi West senator, him alongside other policemen. meant to frontally clamp brazen lawlessness.”
MONDAY, MAY 7, 2018˾
T H I S D AY
APC WARD CONGRESSES…
Shoot Out at APC Ward Congress Meeting, Ngige
Escapes Death
Nwoye: I’ll not let minister hijack party in Anambra
Our Correspondents
The Minister of Labour and Employment, Senator Chris
Ngige, yesterday escaped death at a harmonisation
meeting of the All Progressives Congress (APC) in
Awka over the party’s ward congresses in Anambra
State.
Ngige was whisked away by security personnel
who repeatedly shot into the air to scare members
of the party who charged at him over accusations of
plots to hijack the congresses.
However, a member of the state’s ward congress
committee, who was simply identified as Ali, was not
so lucky as he was beaten to pulp and stripped naked
over allegations that he was among those drafted to
the state to rig the congresses.
The candidate of the APC in last year’s governorship
election in the state, Dr Tony Nwoye, had accused
Sen Ngige of plotting to hijack the party in the state.
At the harmonisation meeting held to address  the
discrepancies in the party’s ward congresses, Nwoye
told Ngige that he was usurping the functions of the
congress committee by stating that ward congresses
held on Saturday when they did not.
Nwoye said he was refraining from speaking because
he might be accused of being bitter because he ran
and lost election on the platform of the party.
He said: “Some of you here worked against me
during that election, but my joy is that I lost the
election and they lost too, because they have not
risen themselves.
“We have failed as a party because we do not have
any position in Anambra, but it will not work for
people to put this party in their pocket so that they
can write election results in their houses.
“I will not let Ngige take the function of the panel.
We have a panel that is supposed to conduct that
congress, and they just came here today (Sunday),
whereas you are trying to tell us that elections have
been held yesterday. How can Ngige be the one to
conduct the congress when there is a committee.
“As at 7p.m. on Saturday, people were being denied
the forms because thy want to contest for positions,
and what that means is that the forms have been given
out to those they like. We will not let that happen.”
Meanwhile, Ngige who took offence over what
he described as an attack on his person by Nwoye,
explained that there was no trouble in the party,
describing it as a brotherly affair.
Ngige had also earlier explained: “We do not have
trouble here and we are here to further the cause of
the party.
“People were querying the guideline given by the
NEC of the party, and I said no. The issue was over
zoning of positions. We said go to the ward and
if anyone resigns, we replace him, because this is
brotherly contest.”
Some members of the party who spoke with THISDAY
on condition of anonymity, said the attack on Ngige
was premeditated.
“Nwoye and his people are still aggrieved over
the role played by Ngige during the governorship
election where he (Nwoye) lost.
“They also believed that he is still working to hijack
the party and remain lord in the state. That is the
main reason for the attack  on Ngige.”
Adamawa APC Ward Congresses Greeted
with Mixed Reactions
The All Progressives Congress (APC) ward congresses
in Adamawa State wereyesterday greeted with mixed
reactions as party members were divided on the conduct
of the elections in the state.
But while the turn-out was very impressive, some
delegates were divided. Some claimed that the congresses
were conducted peacefully while others protested, saying
they never held in their places.
The councillor representing Nassarawo Ward, Yola
North Local Government Area of the state, Hon. Sadi
Rabiu, told THISDAY that the electoral committee did
not show up at the venue of the congress in his ward
at the Jimeta temporary stadium.
According to him, as an officer of the ward with the
collaboration of the Independence National Electoral
Commission (INEC) and security officers sent to monitor
the conduct of the congress, he ordered that delegates
should line up at the back of their choice candidates,
adding that they counted the votes in the presence of
the delegates and some APC stakeholders who were
in support of the development.
He added that there were two contestants for the
chairmanship in his ward, one Allaji Sabiu Mohammed
who scored 6,770 votes while Alhaji  Modibbo Usman
scored 1,671 votes by their counting adding that when
the supporters of Usman realised that their candidate
did not win, they started trouble as they beat up an
INEC staff in the process who was assigned to monitor
the congress in their ward.
Rabiu said it took the intervention of security agents
to rescue the INEC officials from Usman’s supporters.
At Wuro Hausa ward in Yola South, the delegates
faulted the conduct of the congress in their wards but
the coming of the former EFCC Chairman, Mallam Nuhu
Ribadu, who voted in the ward doused the tension that
was about to erupt by addressing the problems with
the congress committee.
APC WARD CONGRESSES…
Members of the All Progressives Congress (APC) waiting to cast their votes at the party’s rescheduled ward congress at
Ward 11, Ibadan South-South Local Council Development Area, Molete-Odo Oba, Ibadan...yesterday
The Chairman of the congress committee, Hon Musa
Mahmud, said his team visited three wards and saw
the exercise being conducted as arranged.
The Speaker of the state House of Assembly, Hon.
Kabiru Mijinyaw, in an interview with journalists, said
the exercise was conducted in a peaceful and rancour-
free atmosphere.
Mijinyawa expressed reservation over the attitudes
of some politicians who are just creating unnecessary
tension by misleading their supporters on the conduct
of the exercise.
A voter, Mallama Hauwa Ibrahim, who was visibly disturbed,
lamented that the exercise was not conducted in her ward
at Umaru Sanda ward in Yola town.
 Wuro Hausa said the impunity the APC is accusing the
PDP of is conspicuously in the ruling party, adding that if
nothing is done to address it, they would be left with no
option but join the PDP in before the 2019 elections.
Oyo APC Congress Peaceful, Says Ajimobi
There was palpable tension and confusion for several hours
yesterday in Oyo State as the rescheduled ward congress of
the ruling All Progressives Congress (APC) failed to take-off
on time in many of the wards visited by journalists.
By mid-day, both camps of the state Governor, Senator Abiola
Ajimobi, and the Unity Forum, the estranged group within
the party comprising a serving Minister of Communications;
Mr. Bayo Shittu and a senator for Oyo Central and few other
lawmakers at the federal and state levels claimed victory
in the areas where the exercise took place.
Last Saturday when the congress was supposed to hold,
political thugs chased away politicians from the stakeholders’
meeting called by the Alhaji Musa Haliru-led Congress
Committee in the state, necessitating its reschedule
for yesterday.
The state governor has however, expressed satisfaction
with the peaceful conduct of the rescheduled ward
congress of the party held across the state, according
to a statement by his Special Adviser, Communication
and Strategy, Mr. Bolaji Tunji.
The Secretary of the Unity Forum, Wasiu Olatubosun,
also said their members statewide conducted themselves
peacefully throughout the exercise, adding that “the
results are being collated by the congress committee.
It was successful, credible and free and fair”.
Haliru was however, not available for comment as
calls made to his mobile were not answered as at the
time of filing this report.
The governor in the statement described Saturday’s
disturbances at the APC state secretariat which forced
the postponement of the congress till Sunday as one
of those things expected in a political gathering of
highly placed political leaders with vested interests.
According to him, followers and supporters of such
leaders have been known to instigate crisis in their bid
to outdo one another and to impress their principals
who often time were never in support of such violent
conducts.
The governor said, “The reports I have heard so
far across the state indicate that the congress went
peacefully without any form of acrimony or rancour.
That is what we have been preaching and I am happy
that the players have embraced peace.
“As the leader of the APC in the state, I’m also father
to all and that informed my conciliatory moves. No
good father will stand aloof while his children are at
loggerheads. Thank God all have been settled now and
we have had a peaceful outing.”
59
“As the leader and father to all, I was able to douse
the tension that enveloped the party secretariat on
Saturday when our supporters were trying to outdo
one another. All the APC leaders that came for the
stakeholders’ meeting were well protected.
“I even shielded one of our honourable members from
the House of Representatives from reprisal attack from
those who attempted to assault him. APC is one large
family. There may be diverse interests, but we are one.
“I will continue to sue for peace among our leaders and
followers, because that is the cardinal programme and
achievement of our administration. Our party and administration
are known for peace and that must be sustained.” 
The governor debunked some newspapers report, which
claimed that the incident at the APC secretariat was a ‘bloody
violence,’ describing it as exaggeration.
Okorocha Orders CP to Arrest Members over Missing
Materials
Following the alleged disappearance of sensitive materials
for the Saturday, May 5, Ward Congresses of the All
Progressives Congress (APC) in Imo State, the governor
Rochas Okorocha has directed the Commissioner of Police
in the State, Mr. Chris Ezike to arrest and prosecute Mr.
Ini Okorie and other members of the Congress Committee
arrested in connection with the missing materials to court
without further delay.
The governor specifically charged the Police in the
State to set every machinery in motion for the arrest and
prosecution of the man at the centre of the alleged incident
that led to the missing materials Mr. Ini Okorie for
escaping with sensitive materials.
He equally expressed regret over the dishonourable
role of  some leaders of the party in the state who
were not able to divorce their local and personal
political interests. He specifically condemned the
role of Senator Osita Izunaso who he accused of
not differentiating his official responsibilities as the
National Organizing Secretary of a National Party
from personal involvement.
Okorocha noted that if not that he played his role as
a governor and as a father, to manage the situation, the
unfortunate role of those people would have thrown
the State into a very big crisis which nobody would
have been in a position to imagine its outcome.
He remarked that, for the Organising Secretary of
the Party Chief Izunaso to be arguing with Mr. Ini,
originally sent for the conduct of the congresses, over
who among themselves, was in custody of the congress
sensitive materials in question was quite despicable.
And it showed they never wanted the Congress to
be successful abinitio.
“It is also important to point out here that those
who never believed that APC had prospect at the
initial stage and who called Governor Rochas Okorocha
all sorts of names including Alhaji in Government
House and Okoro-Hausa must not be allowed to
disturb the peace of APC in the State”, he said.
The governor reiterated his appeal to members of
the party in the State to remain calm and ensure
peace and assured that the anomalies would be
corrected and the Ward Congress in the State, will
hold accordingly.
When Thisday spoke with Senator Izunaso on
phone, he dismissed the accusation leveled against
him by the governor, stating that he would not talk
on the issue because he was an “umpire.”
60
NEWSXTRA
Buratai: Army Will Secure
Nigeria Better With Good
Policies and Laws
George Okoh
ÓØ
ËÕßÜÎÓ

The Chief of Army Staff
(COAS), Lt Gen Tukur
Buratai, has called on
some state governments
to take a critical look at
some policies and law
being implemented in their
states and possibly make
a review of them in order
to resolve crises bedeviling
the country.
He insisted that certain
policy and law being
implemented in some states
needed to be reviewed to
give everyone a sense of
belonging.
Buratai stated this in
Ugba, the headquarters of
Logo Local Government
Area of Benue State, where
he undertook an on-the-
spot assessment tour of
destroyed-communities
invaded by Fulani
herdsmen.
He added that some
inter-tribal fight is also
fuelling the crisis in
Nigeria, stressing  that
if  this policy and law is
fundamentally reviewed, it
Music, Tourism Can Generate Forex and
Contribute to GDP, Says AMBON
Ugo Aliogo, Esther Ehoche
ËØÎ Judith Obaze

Association of Music
Band Owners of Nigeria
(AMBON) has predicted that
a combination of Nigeria’s
tourism and music potential
if well harnessed, has the
capacity to earn multimillion-
dollar foreign exchange and
also contribute multi-billion
naira in locally internally
generated revenues.  He also stated that the
Speaking at the
unveiling ceremony in
Lagos, the President of the
AMBON, Mr. Akin Tofowoma,
said the association is
an established body that
collectively helps to develop,
empower and organises the
country’s ‘unorganised’ live
music sector in Nigeria.
He said its  efforts are to
revive the culture of live
band music in the country
and to improve the quality
of music and set a standard
for the sector.
He pointed out that,
“According to statistics in
the United States, live band
music ticket sales revenue will
grow from $7.2 billion in 2015
to $ 9.1 billion in 2021.    To
this end, AMBON intends
to build a coalition and act
as a solidarity with other
organisations who shares
its concern for social and
economic justice in the Nigeria
music sector.  
“AMBON seeks to get to
the level where a band is
called upon to play for an
event not because it offers
lower prices than other
bands, but because of its
worthiness.    The dream of
AMBON is to strive and get
recognition both at national
and international level.  
“It has standards and
expectations which have been
would enhance securities
across the country.
The army chief also
stated that the army
would deploy more
troops to cover the areas
prone to crisis in the
state, particularly those
communities  located along
the riverbank and shared
boundary with other states.
According to him, a
place like Anyibe in
Ayilamo, Logo council
area that shares boundary
with Taraba and Nasarawa
States would be  reinforced
with the troops to
guarantee the security
and safe returns of the
people already displaced.  state and council areas has
He said the lack of
effective mobility on water
route and other roads have
continued to hampered
troops to quickly move in
and respond to cases of
attack, noting that both the
state and local government
area needed to work out
modalities for the provision
of rural roads and other
social amenities so as to
enhance emergency and
set by members in pursuit
of common visions and it
plans to support and follow
the by-laws by actively
by participating in the
music industry of Nigeria.
The music industry is a
big industry; we want to
bring our own industry.
We want to see how we
can collectively revive the
industry. Music is a serious
business; therefore, we
actually have scientific skills.”
association is founded on
the principles of humanitarian
services, the spirit of excellence
and dedication to duty, adding
that the association remains
committed to dictating the
standards for the quality and
timeliness of live band music.
Tofowoma further stated
that the association would
bring together Nigerian
MONDAY, MAY 7, 2018˾
T H I S D AY
quick operations.
“The water route is what
we are looking at very
critically. I wish it can be
improved. Already, there is
a planning committee on
ground from the defence
headquarters who are
working on this, and
there are those of us that
have been brought in for
deployment in the water.
“But as I said earlier, the
overall security will depend
on the number of factors.
Everybody is coming to
play his role especially the
state government, as well
as the security agencies and
the local government. The
their roles in the provision
of roads and other social
amenities. They are quite
fundamental and l hope
they will look at it and
see how they can improve
on the terrain in terms of
movement and provision
of roads. You can see how
difficult the terrain is for
us to get into the affected
areas in Anyibe, Ayilamo,”
Buratai explained.
artists who are unorganised
and works together as an
association and create a
platform for them to be heard,
stating that the association is
set to treat all members with
respect and dignity “without
regard to ethnicity, age and
race which are common
problems among Nigerians.”
He added that through
training, workshop,
conferences, and seminars,
the association would build
highly motivated leaders at
every level of the association
who would reflect the
membership in all its
diversity.
He called owners of
other music bands to join
hands with AMBON in
changing the face of music
in the country, adding that
their contribution would
be very significant.
MONDAY, MAY 7, 2018˾
T H I S D AY
Fayose’s Appointees Barred from Voting in
Ekiti PDP Guber Primary
Victor Ogunje
ÓØ
ÎÙ
ÕÓÞÓ

In compliance with the
rules guiding the conduct
Get Your Permanent Voter
Cards, Senator Tinubu Tells
Nigerians
The senator representing
Lagos Central senatorial district,
Mrs. Oluremi Tinubu,  has
urged registered voters resident
in Lagos State to ensure that
they collect their Permanent
Voter Cards (PVCs), which
is the key to participating in
the forthcoming 2019 general
election.
The call was made
following revelations from the
Independent National Electoral
Commission (INEC) that over
7,800,000 PVCs are yet to be
collected nationwide. About
1,400,000 of these are from
Lagos State alone.
Prior to the 2015 elections,
INEC had introduced the use
of smart card readers. This has
necessitated issuance of PVCs
as part of the identification and
authentication process.
After the 2015 elections, about
12 million PVCs had remained
in the electoral body’s custody.
Secondus Slams Buhari
over Harassment of Melaye
Onyebuchi EzigbÙ
ÓØ
ÌßÔË

The National Chairman of the
Peoples Democratic Party (PDP),
Prince Uche Secondus has asked
President Muhammadu Buhari
to check the growing incidence
of human rights abuses and
harassment of opposition
elements in the country.
In  his reaction to the alleged
harassment of Senator Dino
Malaye and Senator Shehu
Sani, the PDP boss warned
the All Progressives Congress
ËÑÙÝ
for peace and justice. He has
(APC) and President Buhari that
Nigeria is not in military rule,
but democracy.
Secondus while responding
to questions from journalists
recently in Abuja, added that
“on Ekiti election, processes have
began, we have done the three
man committee, ward delegates.
On Tuesday there will be state
congress to elect our candidate.
Thereafter campaign will start
and you know the governor has
done very well in that state. So
we are sure that the state will
still remain PDP state.
The PDP chairman lamented
that, “the fear of everybody
around the globe, not only
Nigeria, is that Nigeria has
turned to be a police state
by the (APC) government of
President Buhari and he has
introduced some elements he
used when he was head of
state, arresting, harassing and
intimidating people. You don’t
do that in democracy, you allow
the rule of law to reign.
Secondus said: “We are
not in the military era. Look
at how Senator Dino Melaye
was treated. A senator should
of primaries in the party,  the
national secretariat of the
Peoples Democratic Party
(PDP),  has barred Governor
“With previous elections,
Nigerians developed voter
apathy due to a distrust of
the system. The 2015 elections
taught us, however, that as
individuals, our votes count.
Thus, we must rise up as
citizens to fulfill our civic
responsibility and ensure
accountability in governance,”
Senator Tinubu said.
Towards the 2019 elections,
INEC has released modalities
for ongoing continuous voter
registration. These centres open
from 9a.m. to 3p.m. daily. But
Senator Tinubu has pleaded that
the period should be extended;
and should include weekends
to allow people who are unable
to visit the centres during
work hours do so during the
weekend.
In addition, she said INEC
should ensure that it has
adequate resources to make
the process quick and easy.
be treated with all amount of
civility. And we believe that if
he has done anything wrong;
let him be taken to court in a
good manner and not like a
common criminal. So you can
see that more of things like this
will be coming to the opposition,
if they could treat their own
persons like this.
“Remember when we raised
alarm of the conspiracy theory
of the APC, you know what
is happening to distinguished
Senator Shehu Sani, his being
engagement to dislodge the
framed up and quite a number
of people, they just pick them
and charge them. It is not going
to resolve the problem, don’t
turn Nigeria into a police state,
everybody is living in fear as
if we are in Abacha’s regime,
he lamented.
He revealed that, “this
government is intimidating
our people, but we will resist,
we will not be afraid, nothing
can intimidate us. Because our
leaders, our founding fathers
wrestle power from the military
and brought this democracy,
so we will maintain it despite
all the harassment, media trial,
media jailing and all sort of
things that the ruling part have
deployed against the opposition.
He urged members of the
public to speak out against
the APC, assuring them that
their freedom of expression is
guaranteed in the democratic
system of government that we
adopted and that his party is
working    day and night to
bring like minds together, to a
common front so that they can
work together for the interest
of the country.  man with natural inclination
Ayodele  Fayose’s political
appointees from voting in
the governorship primary of
the party holding on May 8.
The information to this
effect was contained   in
the list of delegates released
by the party’s national
leadership which was
signed by the National
Organising Secretary, Col.
Chris Akobundu (rtd), where
names of the governor’s
appointees have  been
expunged.
But the only serving and
NEW EATERY IN YOLA
L-R: Mr. Babalele Abdullahi; Adamawa State Commissioner of Health, Dr. Fatima Abubakar; Princess Rukaiya Abubakar, former Vice
President, Atiku Abubakar; Aliyu Atiku Abubakar; and Mr. Adamu Atiku Abubakar, at the inauguration of the Chicken Cottage outlet in
Yola, Adamawa State....yesterday
How Ekweremadu Nominated Yar’Adua for Nobel Peace
Prize
Tobi Soniyi ÓØ

Niger Delta area. This has
Eight years after, facts
have emerged on how the
Deputy President of the
Senate, Ike Ekweremadu,
nominated the late
President Umaru Musa
Yar’Adua for the 2010 Nobel
Peace Prize.
The letter titled:
‘Nomination for the 2010
Nobel Peace Prize: Re: Alhaji
Umaru Musa Yar’Adua,
President, Federal Republic
of Nigeria’ and dated January
6, 2009, was addressed to the
Norwegian Nobel Committee,
Oslo, Norway.
Ekweremadu predicated
Yar’Adua’s nomination on
the late president’s inclination
for peace and justice for
all, noting that although
Yar’Adua had the option of
full military operation in
the Niger Delta, he chose
the dialogue and amnesty
option in resolving the
militancy challenge in
the region.
He wrote in part:
“President Yar ’Adua is a
former elected officials still
in the camp of Fayose would
have the right to vote at the
shadow election scheduled
for  Tuesday.
Members of the   Kolapo
Olusola
Organisation
Campaign
led by
the Commissioner for
Environment, Hon. Bisi
Kolawole, has declared that
they were not rattled by the
decision.
They said Olusola, who has
been anointed by Fayose, has
majority of delegates behind
demonstrated an uncommon
ability for achieving
peace in his capacities as
the President of Nigeria
and the Chairman of the
Authority of Heads of State
and Government, Economic
Community of West African
States (ECOWAS).
“Situations in the Niger
Delta region had already
assumed monumentally
grave proportions bordering
on insurgency at the time
the President assumed
leadership of Nigeria on
May 29, 2007.
“The youths of the region
had mobilised into the
creeks and taken up arms
in their tens of thousands
under different fronts to
wrest the control of their
resources from the Federal
Government of Nigeria,
kidnapping oil workers,
and sabotaging foreign
oil interests with direct
impact on oil productions
and revenues.
“Although the
president had the usual
option of total military
him and has no reason to
fidget over that.
However, some party
members are hailing the
decision which they said
would ensure fairness,
transparency and credibility
of the primary election.
In another
development,   the Prince
Adedayo Adeyeye Movement
(PAAM) has warned local
government chairmen against
sewing uniforms to be worn
by delegates to the primary.
Speaking with journalists
militants, with attendant
humanitarian consequences
in the Niger Delta, he chose
the peaceful options of
dialogue and unconditional
amnesty to all the militants.
“This has been nationally
and globally acclaimed as
an uncommon masterstroke
and a huge success. Over
30,000 militants embraced
the olive branch, denounced
violence, and turned in their
weapons. They are currently
quartered in rehabilitation
camps where they are also
undergoing vocational
trainings.
“Furthermore, the
president has undertaken
robust policy initiatives to
deliver physical and human
capital development in the
region. He has practically
committed billions of naira
towards this in addition to
the mandate of the existing
Niger Delta Development
Commission and a distinct
Ministry of Niger Delta,
which he created to
directly oversee and speed
up development in the
61
NEWSXTRA
yesterday, PAAM Director
of Publicity, Niyi Ojo, said
information at the group’s
disposal showed that the
council chairmen had been
ordered to produce and sew
“aso ebi” in favour of an
aspirant to the primary.
Ojo said the action
contravenes the provision
of the Electoral Act, urging
the Electoral Panel to
disqualify any aspirant
whose delegates wear
clothes that run foul of the
law to the primary.
resulted in calm, safety of
lives and property in the
Niger Delta and the Gulf
of Guinea.”
When contacted, the
Special Adviser on Media
to the Deputy President
of Senate, Mr. Uche
Anichukwu, who confirmed
the authenticity of the letter,
however, revealed that the
former president did not
know about it before his
death.
However, a copy of the
acknowledgement letter
from Nobel Prize Committee
was eventually transmitted
to his widow, Hajiya Turai
Yar ’Adua.
“Even though the prize
was ultimately clinched by
Liu Xiaobo, Ekweremadu
was nevertheless happy
that the former president’s
name had gone down in
history as a man naturally
inclined to peace and
justice and indeed a
father to all,” he said.
Yar ’Adua died on May 5,
2010, after a protracted
illness.
62
NEWSXTRA
Dogara Encourages Youth Participation in
Governance
Seeks life insurance for journalists
James Emejo
ÓØ
ÌßÔË

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

MONDAY, MAY 7, 2018 63

MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe
Email duro.ikhazuagbe@thisdaylive.com
0811 181 3083 SMS ONLY

Iwobi Shines as Arsenal Gives

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

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

Football Family Unites for Ferguson

Messages of support continued
to pour in as legendary football
manager Sir Alex Ferguson
fought for his life on yesterday
following emergency surgery
for a brain haemorrhage.
Considered the most
successful manager in the
history of British football,
Ferguson won 38 major
trophies in just over 26 years
in charge of Manchester
United, including 13 Premier
League titles and the UEFA
Champions League twice. It is
a measure of the Scot’s success
on the pitch, and his stature
off it that tributes poured in
from around the world of
sport, and beyond, to wish the
76-year-old a speedy recovery
after he underwent surgery
on Saturday. “Everyone at
AC Milan wishes Sir Alex
Ferguson a full and speedy
recovery,” said a statement L-R: Executive Director, Risk Management Ecobank Nigeria; Biyi Olagbami, Company Secretary / Chief Legal Officer, Ecobank Nigeria,
by the seven-time European Denike Laoye, Managing Director, THISDAY Newspaper, Eniola Bello; Managing Director, Ecobank Nigeria, Charles Kie, Chairman/CEO,
champions on their official Pamodzi Sports Marketing, Mike Itemuagbor and Executive Director, Corporate Banking, Ecobank Nigeria, Akin Dada, at the registration of
Twitter page early Sunday
morning. Ecobank’s MD and other executive management for the 2018 Okpekpe International Road Race in Lagos…last Friday

ALEXOTTI
OUTSIDE THE BOX
Curbing Human Trafficking Between Nigeria and the UK
E
xactly a week ago, on Monday, April
30, 2018, Dr. May Ikeora presented
her book titled “Bilateral Cooperation
and Human Trafficking, Eradicating
Modern Slavery Between Nigeria and
the United Kingdom”. The book presentation was
hosted by the Deputy British High Commissioner
in her residence in Ikoyi, Lagos. In attendance
were The Governor of Edo State, Godwin Obaseki,
Former Governor of Anambra State, Peter Obi and
the representative of the Oba of Benin amongst
other dignitaries. I was privileged to function
as the book reviewer. I have taken liberty to
publish my review of the book in this column
today, hoping that you will enjoy it.
Just like Winston Churchill once remarked, this
review would be like a lady’s skirt. Long enough
to cover the subject, and short enough to create
interest.
The 294 paged book sets out by reminding us
that though transatlantic slave trade ended centuries
ago, modern slavery is still very much around.
The major thrust of the study is to understand
human trafficking, its causes and consequences
and measures that would work in eradicating it.
In explaining trafficking, Dr. Ikeora adopts the
United Nations Convention Against Transnational
Organized Crime definition as follows: “the
recruitment, transportation, transfer, harbouring
or receipt of persons, by means of a threat or use
of force or other forms of coercion, of abduction,
of fraud, of deception, of the abuse of power or
of a position of vulnerability or of the giving or
receiving of payments or benefits to achieve the
consent of a person having control over another
person for the purpose of exploitation”.
In spite of the apparent clarity of this definition,
the author concedes that sometimes it is difficult
for law enforcement officers to build a strong case
of trafficking because the trafficker’s intent can be
disguised. The magnitude of human trafficking is
so pervasive that it has become the second largest
source of illegal income after drug trafficking.
Human trafficking occurs for several purposes,
mainly for sexual exploitation, forced Labour,
domestic servitude and organ harvesting.
In the year 2000, the Trafficking Protocol was
adopted. This requires states to take necessary
measures to Prevent, Protect and Prosecute (3Ps)
in order to end trafficking.
I must at this point observe that this book is based
on research involving fieldwork and interviews. The
author therefore starts by formulating a research
question thus: “to what extent have Nigeria and
the UK cooperated to combat the prevalence of
human trafficking across their borders?”
The book is organized into three sections and
eight chapters.
In trying to understand and tackle human
trafficking, a lot of perspectives are discernible
. The author, however, adopts the human rights
perspective to anti-trafficking. This perspective,
according to the author, amongst other things,
insists that victims have a right to be treated with
dignity and are entitled to measures that ensure
their well being and avoid revictimization. This
approach also recognizes that victims may enter
countries unlawfully and may face vulnerabilities
as a result. They may also commit crimes under
duress during the trafficking process which may
result in their being arrested detained and even
prosecuted. Criminalization of victims is frowned at
by the human rights approach. The book highlights
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TR
UT H
Monday May 7, 2018
MISSILE
Anyaoku to FG
“...our country is currently drifting with decreasing respect
for the sanctity of human life and as a result, has become
number 13 in the Wikipedia list of the world’s fragile states.”
– Former Commonwealth Secretary-General, Chief Emeka
Anyaoku making a case to the federal government on the
need to restructure the country.
alex.otti@thisdaylive.com
Ikeora
some of the drawbacks of the human rights
approach and therefore extends the perspective
to a human centered approach which basically
says that rather than focusing on the state and its
interest, the people’s interest should be paramount.
The importance of the human rights approach is
its assumption that victims are vulnerable because
of lack of socio economic opportunities in origin
countries. This, in my opinion, is the most important
part of this study. As quoted in the book, “human
trafficking persists in part, when societies tolerate
denials of the dignity and humanity of vulnerable
individuals. This includes the denial of economic
and social rights, discrimination and poverty”.
Having identified the above, the author posits that
restrictive UK immigration policies, somehow result
in very weak protection of victims of trafficking.
Once victims fear that they may be deported, they
would rather remain in the UK at the mercy of
their abductors. This is logical as the victims would
rather not go back to the country from where they
were coming for all sorts of reasons.
Because trafficking is mostly a cross border crime,
there is need for cooperation amongst states if
this scourge is to be contained. In this regard, the
United Nations Convention against Transnational
Organized Crime (UNTOC), ratified by at least 117
nations has remained the most universally accepted
international legal framework specific to addressing
human trafficking. Without the cooperation of
states, successful prosecution of traffickers may
just be a pipe dream. In reality, some states find
it difficult to allow victims to enjoy immigration
status, thereby criminalizing them and sometimes,
prosecuting them for breaking Immigration and
Labour laws or simply repatriating them without
any reprimand of the real criminals, the traffickers
themselves. The author took time to analyze several
other legal frameworks and arrangements which
I believe would interest readers.
Dr. Ikeora describes Nigeria as a source, transit
and destination country for trafficking people
and states that 92% of Nigerians trafficked to
Europe are from Edo State. These are figures
provided by UNESCO. She goes into details on
the different stages of trafficking which starts with
the recruitment stage through the transportation
stage to the exploitation stage.
In the 5th chapter of the book, the author delves
into the efforts that Nigeria had made to stem
trafficking to the UK and the challenges militating
against these efforts.
The traditional fostering and apprenticeship
system which ordinarily is helpful to families and
N
& RE A S O Price: N250
communities in reducing pressure on the poor has
also been fingered as responsible for the abuse
of children and in some cases child trafficking.
In 2003, the National Agency for Prohibition of
Trafficking in Persons (NAPTIP) act as amended
was passed by the National Assembly. Its main
purpose was to provide a comprehensive legal
framework to prohibit human trafficking, protect
victims and facilitate national and international
cooperation to fight trafficking. One of the strongest
points made by the author is that the best way
to deal with human trafficking is to deal with
vulnerabilities. Hear her “human trafficking preys
on the vulnerability of people, which often makes
it easier for traffickers to coerce and exploit them.
For instance, poverty and search for a better life
have driven people into the hands of traffickers as
seen in many cases of trafficking. In this regard,
addressing the vulnerabilities of persons in Nigeria
can serve as a preventive strategic option towards
addressing human trafficking from Nigeria to the
UK”. She insists that it is the responsibility of states
to prevent the occurrence of wrongful acts of which
human trafficking is one. For the state to effectively
tackle the problem, it must address the root causes
by creating an environment that reduces vulnerability
and makes it difficult for traffickers to operate
with impunity. From her study, she found that
poverty, greed, and low level of education as against
the ‘better life syndrome’ sold by traffickers and
others alike, have been major factors driving the
trade in Nigeria. In addition, social exclusion that
appears in the form of forced marriages, inequality,
traditional servitude, homelessness, family instability
and domestic violence must be focused on to
prevent trafficking. She identifies limited ‘successes’
made by a few trafficked individuals by way of
sending money home, building houses, drilling
of boreholes, purchase of fairly used vehicles and
a few other community development efforts as
contributing in the push-back by potential victims.
Some of the potential victims who in some cases,
offer themselves to be trafficked and even when
deported, willingly make efforts to be re-trafficked
would insist that those who want to stop them
do not mean well for them, their families and the
community. She also fingered corruption as one
of the reasons why anti-trafficking efforts have
continued to fail.
The author also looks at the response of the UK
to human trafficking and notes that there seems to
be a lot more efforts through legislation to reduce
trafficking. The major drawback identified is that
the UK seems to be focused on immigration law
than protecting the rights and interests of the victim.
The UK adopted the 3D (Detention, Deportation
and Disempowerment) approach in a bid to rid the
country of victims of human trafficking. Nigerian
victims are usually in breach of UK immigration
rules and therefore are subject to arrest, detention
and subsequent deportation irrespective of the
circumstances under which the victim accessed
the country. Even in cases where the victim opts
to remain in the UK for fear of harm in Nigeria
by their more powerful traffickers or for fear of
re-trafficking, the tendency is for the UK authorities
to decline. The author is optimistic that the Modern
Slavery Act, 2015 would be able to address all the
sides to the hitherto ignored trafficking regulation
issues. She, however, admits that the law is still
too fresh to assess its effectiveness.
In 2004, Nigeria and the UK signed a bilateral
agreement to work together to eliminate human
trafficking across their borders. It is instructive that
the understanding of the two nations are not exactly
the same. While the UK would like to collaborate
with Nigeria as a source country, Nigeria would
rather see itself as a destination country from other
African countries and a source to few European
countries. Compared to countries like Italy and The
Netherlands, Nigeria feels that the UK is insignificant
as a destination country from Nigeria. To the UK,
Nigeria is a big challenge to anti- trafficking efforts
within its territory, maintaining a position as top
five source country for trafficking into the UK.
Nigeria on the other hand, does not see UK’s case
as serious given that it is not within the top five
destination countries for trafficking from Nigeria.
In an interesting section she titled “Negotiating
Rights or Negotiating Borders” the author contends
that while on the face of it, eradicating human
trafficking comes across as a common goal for
both countries, border security, minimizing the
cost of anti-trafficking and criminality seem to
be the major focus of the UK over and above
the human rights of the Nigerian victims. UK
and some other countries believe that migration
threatens national security and therefore regards
human trafficking as an immigration problem
which should be solved accordingly.
Like we pointed out earlier, Nigerian victims are
most likely to take the risk of submitting themselves
to their captors than come back to Nigeria to return
to the same situation that they were running away
from in the first place. Given the mismanagement of
the Nigerian economy over time, living in Nigeria
has become a nightmare for most people as they
battle with extreme poverty and unemployment.
Over 70% of the population lives below poverty
line. An environment like this cannot but support
trafficking and migration, she posits.
She concludes by calling on both countries to
wake up to their responsibilities for trafficking to
be successfully fought and defeated. If Nigeria does
not make its environment more conducive for its
people, the fight against trafficking cannot be won.
While the fight is on, she advises the UK to pay
more attention to the rights of victims rather than
criminalizing them for crimes committed either
unknowingly or under duress.
I must commend Dr. May Ikeora for such a great
outing and for the painstaking manner in which
she delivered the work. The style is attractive, the
language simple and the logic, unassailable. Like
every work of this nature, a few typographical
errors were noticed. I will pass the ones I identified
to her for correction in subsequent editions. While
I must confess that the research was conducted
professionally and conclusions were well founded,
it is my belief that this exercise has also left room
for further research. It may not be within the ambit
of the present study, but I am of the opinion that
knowledge would be aided if further research is
able to establish the role of the current kidnappings
particularly by Boko Haram, in human trafficking.
For instance, the abduction of school girls from
Chibok. Is it possible that some of those girls could
be or could have been trafficked? If it is what
would be the destination countries?
Your excellencies, distinguished ladies and
gentlemen, this book is a must read for everyone
who can read and reason. Finally, it is interesting
that some of the findings of Dr. Ikeora’s research
were consistent with a piece I did recently in this
column titled “If you travel, you’ll die, if you don’t,
you’ll die” (THISDAY, March 12, 2018, Backpage).