BIAFRA: Why govt must avoid use of force — ORJI Kalu

Says Nigerians shouldn’t expect miracles from Buhari

Amid sliding value of the Naira, mounting complaints by private sector players on the tottering state of the economy, all appears not to be well with the state of affairs of Nigeria. But, it is not time to despair, says former Abia State Governor, Dr Orji Uzor Kalu, as President Muhammadu Buhari is making efforts to rework the economy. In an interview with journalists in Lagos, at the weekend, on arrival from the United Kingdom, Kalu said Buhari should be given enough time to deliver on his promises as he grapples with the burden of surmountinmg Nigeria’s multi faceted challenges.

By Kenneth Ehijiator

On the pro-Biafra Republic protests

Those boys are right, they have a right to demonstrate, but not violent demonstration, not killing soldiers because if I am a Commander- in -Chief, and you kill one of my soldiers, I will kill everybody. You cannot kill soldiers. You cannot kill police. You have a right to say no, we want our own Republic. The United Nations charter gives them the right to ask for self-determination. It is not a right to go and destroy people’s properties or to go and destroy Nigerian Armed Forces, whether it is Nigerian Army, Nigerian Navy or Nigerian Police.

If I am president, I will set up either traditional rulers and some political leaders to go and ask the boys what they really want, what is really their problem, what can be done to stop them from asking for this? This was how Boko Haram started killing members of Catholic Church, and as a....

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Let’s Learn From History – PMB

President Muhammadu Buhari yesterday appealed to Nigerians to learn from the socio-political history of other countries and avoid repeating mistakes of the past.

President Buhari also disclosed that the coming together of opposition parties in 2014 helped to save Nigeria from total collapse.

The president stated this at the public presentation of a book entitled, “From Opposition to Governing Party”, written by the minister of science and technology, Dr Ogbonnaya Onu.

The president noted that with books such as the one presented and those written by intellectuals in politics, the future generation of Nigerians will be saved the time and torture of repeating the mistakes of previous generations.

“I would like to thank Dr Ogbonnaya Onu, because what is missing is history.

“People must tell the history of our development politically, not only economically, because one significant thing, especially about Nigeria, is that we are inclined to refuse to learn from other peoples’ mistakes. We insist on making our own mistakes all the time,” he said.

“For this, I thank him very much and I certainly wish to congratulate him. And he is not the minister of science and technology for nothing. Having known him earlier on as a scientist, I think the biggest challenge is to give him the ministry and see how much of a scientist he remains.’’

Onu said that the book would help other politicians to avoid the mistakes of their predecessors.

Troops Move To Take Over Boko Haram’s ‘Spiritual Hqtrs’

The Nigerian military yesterday commenced simultaneous and tactical offensive against Boko Haram insurgents in what appear a final showdown ahead the fast approaching end of December deadline, officials sources said.

As Military sources said that troops of the Nigeria army had yesterday began to advance towards Alagarno, a notorious hideout and spiritual headquarters of Boko Haram located between Borno and Yobe states.

Spokesman of the Nigeria Army, Col Sani Usman, who also confirmed the development, said it was a strategic operation involving both the air and ground troops , saying that details of the strategies might not be made known to the public immediately.

Alagarno is one of the most deadly camps of the Boko Haram where the insurgents have in the past four years been camping until recent attacks early this year that caused the dislodgment of some of the insurgents.

In a related development, sources in the military have confirmed that the Nigeria Air force jets have begun massive bombardment of Sambisa forests targeting already mapped areas believed to be hideouts of the Boko Haram insurgents. Alagarno is about 45km south of Maiduguri.

A soldier in Maiduguri, the Borno State capital, who spoke to LEADERSHIP under anonymity said, “the bombardment started today (Monday) and from the signals being received so far, they are making appreciable progress over Sambisa.”

Meanwhile, top Boko Haram leaders are currently on the run, leaving behind cache of arms and corpses of their killed colleagues.

 

December Deadline Is A Guide To Military Operation – PMB

President Muhammmadu Buhari has said that said he is impressed with the achievement by the Nigerian troops in fighting Boko Haram insurgents in northeast Nigeria.

Buhari also urged soldiers to use the December deadline given to them to end Boko Haram activities as a guide in carrying out their operations.

The president stated this while speaking at the opening ceremony of the 6 -day Chief   of Arming Staff Annual General Security Conference 2015 in Dutse, Jigawa State yesterday.

Buhari noted that, the achievement recorded in the fight against insurgents is very encouraging in give hope that the problem would soon be thing of the past.

He explained that, if exigencies of multiple military operation Against the insurgents across the country demand for modification of the deadline the federal government would not be hesitant to do so.

Amnesty Blames ISIS Killings On ‘Decades Of Reckless Arms Trading’

Amnesty International (AI) said yesterday that years of poorly regulated arms movements and sloppy controls of weaponries into Iraq have provided the Islamic State (IS) with large and deadly arsenal that is being used to commit war crimes and crimes against humanity on a massive scale in Iraq and Syria.

In a statement made available to LEADERSHIP and signed by Amnesty Press Officer Eulette Ewart, it said that the vast and varied weaponry being used by ISIS is categorical case of how reckless arms proliferation and trading fuels atrocities on a massive scale.

An analysis of thousands of verified videos and images titled : “Taking Stock, the arming of Islamic State” exposed how IS fighters are using arms, mainly looted from Iraqi military stocks, manufactured and designed in more than two dozen countries, including Russia, China the USA and EU states.

A researcher on Arms Control, Security Trade and Human Rights at Amnesty International Patrick Wilcken said: “Poor regulation and lack of oversight of the immense arms flows into Iraq going back decades have given IS and other armed groups a bonanza of unprecedented access to firepower.”

The report noted that after taking control of Mosul, Iraq’s second largest city, in June 2014, IS fighters acquired a windfall of internationally manufactured arms from Iraqi stockpiles which included US-manufactured weapons and military vehicles, which they used to take control of other parts of the country, with devastating consequences for the civilian population in those areas.

“The vast array of weapon types captured and illicitly acquired have enabled IS to carry out a horrific campaign of abuse. Summary killings, rape, torture, abduction and hostage-taking – often carried out at gunpoint – have forced hundreds of thousands to flee and become internally displaced persons (IDPs) or refugees,” the statement said.

Google to boost renewable energy for data centers

Google announced plans Thursday to boost its use of renewable energy for its data centers, moving closer to its goal of 100 percent clean energy use.

The US tech giant said it signed agreements to boost its use of wind and solar energy by contracting to buy 842 megawatts of electricity.

The deals include purchases of solar energy from the United States and Chile, and wind power from Swedish and US generating facilities.

“Across three countries, we’re nearly doubling the amount of renewable energy we’ve purchased to date,” Google’s Urs Hoelzle said in a blog post.

“We’re one step closer to our commitment to triple our purchases of renewable energy by 2025 and our goal of powering 100 percent of our operations with clean energy.”

Google has signed long-term contracts ranging from 10 to 20 years to “provide projects with the financial certainty and scale necessary to build these wind and solar facilities — thus bringing new renewable energy onto the grid in these regions,” Hoelzle said.

Operator charges payment industries, security agencies on cybercrimes

TO curb the growing influence and activities of cybercriminals in Nigeria, experts are of the view that lack of cohesive coordination between the payment industry and security agencies to a larger extent has influenced the menace.

One of such experts is VoguePay, a leading Nigeria payment platform that serves several small businesses in four continents. VoguePay gives a unique insight into the security challenges faced by international businesses, both large and small, stressing that currently there seems to be a reluctance to tackle the problem at its roots, with some security agencies having the attitude that businesses can mitigate this via insurance pay-outs.

In their review of fraudulent transactions, VoguePay revealed that the pattern detected by its security parameters points to an increase in deliberate collaboration between crime syndicates, using geo-location to avoid detection. It stressed that even when caught, the cyber criminals use geo-location patterns to avoid prosecution.

Citing examples of breaches, the Chief Executive Officer of VoguePay, Michael Simeon, said a criminal could be using a card issued in the USA to perform transactions in the UK, via a merchant in China. This way the criminals are taking full advantage of the lack of cross-country coordination when it comes to fighting cyber-crime.

Simeon believed that cyber criminals are well aware of the constraints affecting cyber-security authorities, which include coordination, cooperation, culture and budget.

He added that, “another pattern we have noticed is criminals bypassing the card issuer’s authentication system by spending multiple small value transactions across different geographical locations. These go without investigation by the cyber-security authorities due to the small values involved. However, collectively this represents high value cyber-fraud, especially for small businesses who are majorly the victims of such vices and do not have the resources or capabilities of larger companies to absorb such losses.”

While there is no single security tool to eliminate cyber security threats; Simeon opined that businesses must apply a raft of security measures including KYC, in the fight against cyber-attacks.

Oil firms pay $293b taxes in six years, says NEITI

Oil workers, member sof PENGASSAN. Photo: naij

The oil companies operating in the country have paid over $293 billion to the Federal Government coffers in terms of taxes, royalties and dividends between 2006 to 2012, going by the data from the Nigeria Extractive Industries Transparency Initiative (NEITI).

The Acting Executive Secretary, NEITI, Orji Ogbonnaya Orji, who disclosed this during the inauguration of companies’ forum in Lagos, also disclosed that agency has signed off agreements that will herald the commencement of work on the new audit report.

“The signing off of the 2013 audit repot will be done today, while procurement has already commenced” Orji said.

He however gave the breakdown of the payments as; $44.7 billion was paid in 2006, $43.7 billion paid in 2007, $60.4billion in 2008 and $30billion in 2009. In 2010, the companies paid $44.9 billion, $68.4 billion in 2011 and $62.9 billion was paid to government in 2012.

Orji informed the Companies Forum in Lagos that the payments were made by a combination of 42 oil companies covered by the NEITI Audit process during this period.

He explained that the era when tax and royalty payments made by companies was a secret at the disposal of the exclusive few was over, adding that Nigeria’s membership of the global Extractive Industries Transparency Initiative has enthroned a regime of openness and voluntary public disclosure in the industry.

The Acting Executive Secretary stated that the work of NEITI is to place vital information and crucial facts at the public domain. The information is required by the citizens through the civil society, the government and the companies to promote dialogue, constructive debates that would lead to reforms and prudent resource management for the benefit of all citizens.

Orji explained that NEITI decided to establish a special forum for companies in the extractive industry to provide a platform for effective exchange of information and productive engagement in the implementation of EITI in Nigeria.

He said that full participation and support of companies in the on-going reforms of the extractive industries by the present administration will help to promote good business environment, enhance opportunity for profit and inflow of investments into the sector.

The Chair of the global EITI Clare Short, expressed the support of the world body to the on going reforms of the oil gas and mining sector in Nigeria as recommended by NEITI.

Labour to present new minimum wage proposal to govt

NLC President, Wabba

Oshiomhole to join protest against wage reduction

THE two labour centresin the country has unfolded plans to present a new minimum wage proposal to the Federal Government for promulgation into law, the President of the Nigeria Labour Congress (NLC), Ayuba Wabba, has disclosed.

Speaking at the sixth quadrennial national delegates conference of Non-Academic Staff Union of Educational and Associated Institutions (NASU) in Abuja, Wabba said both the NLC Trade Union Congress of Nigeria (TUC) are currently working on the modalities on wage structure that would be in tune with the prevailing economic realities in the country.

He declared that the declaration of inability to pay in the face of dwindling fortune of the country by some governors would not deter labour from demanding a new minimum wage.

He argued that beside the fact that the National Minimum Wage Act is due for review after five years it become law, the current purchasing power of the Naira is making the N18, 000 minimum wage unsustainable.
The struggle to ensure the continuation of the payment of the N18, 000 by government has received a major backing of the Edo State Governor, Adams Oshiomhole.

The Edo State Governor has vowed to lead protest by the Nigerian Labour Congress (NLC) against any governor that attempts to reduce national minimum wage of N18, 000.

His words: “I have told my fellow governors that when the going gets tough, everybody will answer his father’s name. I am not and I will not support any government, any governor, federal or state that misunderstood the problem to 

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Envoy reaffirms British investors’ interest in Nigeria

THE Deputy British High Commissioner to Nigeria, Mr. Ray Kyles, has reaffirmed United Kingdom’s (UK) interest to encourage British investors to invest in Nigeria.

Speaking during the launch of One World Logistics and Freight Limited (OWL and FL) in Lagos on Thursday, he said that for a very important reason, the governor of Lagos State, Akinwumi Ambode, has decided to make London his first destination to look for foreign investments to Lagos.

Also, the West Africa Regional Director of OWL and FL, Michael Francis, said OWL and FL is a leading service provider in the movement of small packages to the Middle East and Africa region. “Our success in this geographical axis, and globally is hinged on three operational tenets, namely, our unflinching focus on customer satisfaction, our quest to deploy appropriate technology solutions and services and our passion for people.”

Kyles said that Ambode chose London as his first point of call because there are many British investors interested in what Lagos and Nigeria have to offer.

He disclosed that there are some challenges that Lagos State faces in the areas of infrastructure, energy, among others, adding that there are many business opportunities in Nigeria.

“We are ready to give support for British investors to trade and do business in Nigeria. Nigerians have the will and the wish to succeed. I think that is important,” Kyles added.

He said that President Muhammadu Buhari knows exactly what the country needs and he is determined with his cabinet to succeed.

Nigerian Cabin crew sue Virgin Atlantic Airways over ‘unjust’sack

The 20 Nigerian cabin crew members recently laid off by Virgin Atlantic Airways Ltd has slammed a N5billion suit on the Airline at the National Industrial Court, Lagos Division.

Joined as co-respondent in the suit is the Aviation Logistics and Management Ltd.

In a motion on notice filed through their counsel, Chief Felix Fagbohungbe(SAN), the claimants are seeking for an order of interlocutory injunction restraining the respondents from laying them off or giving effects to the notice of termination of employment served on them pending the hearing and determination of the suit.

They are also seeking the suspension of the notice of termination of employment served on them pending the hearing and determination of the substantive suit.

They are equally seeking for an order of the court directing the respondents to pay them the sum of N5billion as damages for the act of discrimination against them.

The 20 cabin crew members included: Genevieve Mordi, Umo Akinselure, Lukman Yusuf, Ekaete Victor-Iyamu, Victoria Enyi, George Ezemba, James Ajayi, Rosemary Ogbor, Babajide Akinyele and Remilekun Lashebikan.

Others are: Yewande Salau, David Dagat, Babafemi Oshifeko, Babatunde Olamuye, Juliet Ezumba, Rachel Ideho, Ademola Olowolade, Imelda Blankson, Halimat Odeyemi and Tolumilade Sogbesan.

They were all laid off on November 30, 2015, following an internal memo issued by the Executive Vice President, Customer, of the Airline, Jill Brady.

In the memo, it was disclosed that the provision of cultural expertise which was the primary purpose of employing the claimants was no longer required by the Airline on its Lagos-London route.

However, in a 36 paragraph affidavit in support of the motion on notice which was deposed to by one of the plaintiffs, Umo Akinselure, it was averred that the claimants were never informed by any of the respondents that the sole reason for their employment was to provide cultural expertise in respect of the Airline’s flight operations on the Lagos-London route.

Oyegun may bleed from Kogi substitution imbroglio

Odigie-Oyegun

WOULD a new governor be sworn into office by default in Kogi State on January 27, 2016? Or could a court injunction suspend the exercise pending the determination of various suits challenging the conduct of the supplementary governorship election, especially the substitution of the deceased flag bearer of the All Progressives Congress (APC)?

Another curious legal puzzle that could affect the inauguration of a new administration in the state, is what percentage ratio does the party platform hold in the election of a governor? Against the background of the ongoing disputations over the elongated governorship election in the confluence state, indications have emerged that the ruling APC may review the actions of its National Working Committee (NWC). The Guardian gathered that the unsavoury development in the Kogi confusion might rub off negatively against the tenure of the national chairman, Chief John Odigie Oyegun.

Sources within the national headquarters of the APC confided in The Guardian, that majority of party chieftains, especially those from the southern part of the country view the actions of the national chairman with “disgust and disbelief”. They regretted that at a critical point in the party’s progression, Oyegun showed lack of moral strength and understanding of the issues involved pointing out that the national chairman was doodling and shuffling in search of body language to interpret in taking decisions on the Kogi substitution politics. “For instance, most leaders have come to the conclusion that the claim by Oyegun and few others that the decision to adopt Alhaji Yahaya Bello was based on the expert advice of APC lawyers, the decision was actually meant to satisfy the dictate of a powerful figure in the presidency,” the sources hinted.

Contrasting Oyegun’s chairmanship with that of the interim administration of former Governor Bisi Akande, the sources narrated that.... 

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Stamp and Seal project has exposed over 1000 fake lawyers, says Alegeh

Alegeh (SAN)

When the Nigerian Bar Association (NBA), introduced the Stamp and Seal project, aimed at curbing the rising cases of fake lawyers in the system, not many believed in its feasibility. But the NBA president, Austin Alegeh (SAN), said over 1000 fake lawyers have been discovered through the process. He also spoke on other topical national issues in this interview with select journalists. JOSEPH ONYEKWERE was there.

The Human Rights Commission set up a committee to review all anti human rights laws. What areas would you advise they look at?

We must understand the functions of the Commission. The Human Rights Commission was basically set up to protect human rights and to ensure that all our laws are created to respect human rights. So when the Commission now creates a committee to look at legislations, you start asking what their function is as a Commission. The committee is being giving principal function of the Commission. When any law is being proposed, it is their job to look at how it observes the protection of human rights at all levels. Are they saying that they have not been doing that? We must not take a fire brigade approach to ensure that human rights are enthroned. Even if this committee discovers those laws that does not ensure that human rights are protected, what then happens? You then need to go for legislative amendment. I admire the great work that the Commission is doing, but they need to be proactive. It is easier to ensure that those legislations don’t get to be laws, than to wait till the end of the day before trying to get the law back to the assembly to amend.

Your administration just impaneled a committee of the NBA to go and investigate human rights violation in the North Eastern part of the country, specifically in Maiduguri. Why did you choose to embark on such dangerous journey?
We are not going to investigate human rights violation. There has been talks from amnesty and every person that our troops in trying to quell insurgency by Boko Haram is committing the violation of human rights. Amnesty and human rights commission said they have investigated. Our duty is to sensitize the military. So we are not having investigative foray into Maiduguri. We are going to have a human rights workshop with the military, where the former attorney general of the federation and minister of defence, Adetokunbo Kayode (SAN) will present a paper, trying to highlight what they have to do. We want to have a collaborative effort with our military. There are rules of engagement, even in war situations. Our duty is to sensitive the military. What we want to do is to let those who are leading them to know what they can do in war situation and what they cannot do. Sensitization is critical. If we all investigate and investigate and nobody has told them this is the minimum of standard expected of you, in a war situation, then we will be doing the same thing that amnesty has done. To our own risk, we want to engage them constructively. Additionally, we are working with the military command to create response team. We are going to set up NBA monitoring team. One thing is to tell them what to do, but another is to monitor them to be sure they are doing it. Conversely, we would like the military to provide us with numbers so that the soldiers can easily be identified. But from my interactions with the military, you will discover that these are perfect gentlemen. They are not people interested in abusing human rights but are preoccupied with how to quell the insurgency. We have members in those Branches such as Damaturu, Maiduguri, Gombe, Wukari, Mubi. They live there and pay their practicing fees. It is from that, that we raise funds to build our secretariat. So how will it lie in our mouth to say the places are too dangerous for us to go? But we must show that we love our people that we have not abandoned them. We love our country too and must ensure that every part of Nigeria remains.

Will foreign countries not use this as an excuse to deny us the opportunity of buying arms?

We feel that as a group in NBA our task should not be to complain but should be to do something positive to affect the situation and not to complain. Yes, everybody is complaining, but... 

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Changing face of terror

AGAINST recent activities of the Boko Haram and ISIS terrorists, the government in particular, and the interventional coalition in the war against terror must now come to terms with the changing face of terror. If anything, this points to a long war, the end of which is not clearly in sight. It will take concerted cooperation at a global level, as well as a methodical and relentless approach by individual countries to achieve the desired peace.

On-going pre-emptive raids by French and Belgian security operatives on suspected hideouts and bases of terrorists provide perhaps the latest lesson. The fatal hits of soft targets in France is an indication of the changing strategies of inflicting maximum damage to targets of Islamic State militants and other terror groups. The African state of Mali too was not spared either, as daring gunmen attacked a hotel and for a while took hostages. And in Nigeria, the police keep counting the loss. According to the Inspector General of Police, the country needs N12.7 billion to checkmate Boko Haram insurgency and rebuild 56 police stations, formations and facilities destroyed in the crisis.

From Syria to Afghanistan, from Belgium to Pakistan, America and Britain, more theatres of terror, the vicious cycle continues. The escalating attacks and threats of terror by ISIS to also “strike America at its centre” coupled with Boko Haram’s continued insurgency in Nigeria, Chad, Niger and Cameroun, have no doubt, left the world nervously pondering the future of global peace. Nigeria must learn to be proactive rather than reactionary in matters of territorial protection, and in the reality of contemporary world politics. There is no running away from the fact that the country is among others that found themselves deep in the hit of terror.

To get on top of the situation, there is need to seek the active assistance of the international community. It is instructive that leaders of developed countries are also calling for global cooperation to combat terrorism. The Federal Government must provide necessary support for the military to develop capacity to contain the terrorists, and nurture a system for intelligence gathering backed by top-class training for officers. The national security apparatus or the defence mechanism must be strengthened to withstand current and future challenges.

The global terror map is a problem without borders and of the world’s growing susceptibility to terrorism. Exportation mechanism (of terror) is constantly being upped by the promoters whose territorial expansionist tendency is not hidden, propelled in their ambition by slush funds from conquered territories’ resources and money laundering.

Europe, indeed the world, is currently battling with the heat of the Syrian conundrum and other hot spots. These days, terror is so easily exported, before a recipient country has time to decipher such missions. For instance, the France bloodletting was reportedly planned in Syria and organised in Belgium and executed in France. The coordinated orgy, perfected in a matter of hours, claimed 129 lives with as many as 352 injured – 90 critically. This is in spite of the ‘high’ threat level (highest in a four-tier rating) raised in France long before the strike. Belgium has also remained on high alert for a while after the French fatalities.

Mali in its own case recorded 21 deaths in a siege laid to a luxury hotel before the rampaging gunmen could be overpowered by the country’s security forces. Mercifully, the world is drawing lessons from reactions of leaders.

Much earlier in the year, Kenya’s huge loss involved at least 147 people in an attack on Garussa University College in east Kenya. Gruesome killings are not limited to these unfortunate incidents. Cumulatively, Nigeria’s share of Boko Haram’s terror in the past six years is still counting. Last year September, Australia carried out the biggest counter-terrorism raid in the nation’s history, involving 800 heavily armed officers targeting households.

Recent developments in Paris have necessitated discussions in Europe and the U.S. about how and whether EU countries should be beefing up their border security. In Europe, talks have reportedly centred on “reintroducing border controls in Europe’s 26-nation, open-borders Schengen zone – an initiative that could completely change how travellers move through the continent”. Several countries in Europe have implemented temporary border controls post-Paris strike, in order to strike a balance on the maintenance of appropriate security.

However, life and business must go on in spite of unrelenting attackers.  The war against terror cannot be conceded, but as experts observed, it would be at a cost in upgraded intelligence systems, policy rationalisation, and integrated surveillance system, both domesticated and through improved international collaboration.

Nigeria’s interest may dictate change in policing of the wider community, complemented by the military when necessary; promoting state police to boost policing local intelligence. The state cannot overact on security issues to protect its prized assets in people and infrastructure. The possibility that in the process, a safer world is promoted serves to keep hope alive for the world.

PSN President becomes honorary Consul-General of Pakistan in Nigeria

New PSN President, Ahmed I. Yakasai

The President of Pharmaceutical Society of Nigeria (PSN), Ahmed Ibrahim Yakasai, has been formally presented with the letter of appointment as the Honorary Consul -General of Pakistan in Nigeria.

The letter signed by President Asif Ali Zardari of the Islamic Republic of Pakistan was presented by the Pakistan High Commissioner in Nigeria, His Excellency Lt Gen Agha Umer Farooq (Rtd), at a well-attended investiture ceremony at Meena event Centre, Nassarawa Government Reserved Area (GRA) Kano.

The PSN in a press statement said the historic event which started around 4.30pm on Saturday the November 21, 2015 with the National Anthems of both Nigeria and Pakistan has in attendance the following: the Executive Governor of Kano State, H.E DR Abdullahi Umar Ganduje ably represented by the Deputy Governor of Kano State, Prof Hafiz Abubakar, the Executive Governor of Jigawa State and Sardaunan Ringim HE Alh. Muhammad Badaru Abubakar; the first two term Executive Governor of Kano State, and former Federal Minister of Education and Sardaunan Kano, Dr. Ibrahim Shekarau, former Military Administrator of Jigawa State, Col Abubakar Zakari Maimalari (Rtd).

Armed robbers storm Owerri market

ARMED robbers in their numbers stormed the popular Rotibi Street, off Douglas Road, Owerri, the Imo State capital, dispossessing traders of millions of naira.

The Guardian gathered that the robbers, armed with heavy guns, arrived the scene at 6 pm masked. They were said to have stirred panic among residents and passers-by when they started shooting sporadically, entering shops and carting away large sums of money.

Big distributors of fast-moving consumer goods and other traders were the most affected.
The Douglas Road, which habours a major market in the heart of the city, has witnessed upsurge of robbery attacks in recent times.

The attacks often displayed their arms and ammunition, forcefully dispossessing people of their personal belongings.
In December, 2014, another big distributor in the area, was attacked by the hoodlums, who carted away millions of naira, which he had intended to take to the bank.

Govt urges Nigerians to be vigilant at markets, churches, mosques, hotels

Photo; sturvs

FROM the Minister of Information and Culture, Alhaji Lai Mohammed, came yesterday a piece of advice that Nigerians should be vigilant at markets, hotels, churches, mosques and other crowded places which may be targets of terrorists that are now being ruthlessly dealt with by the military with a view to ending their menace by the end of the year.

He announced plan by the ministry to launch a national campaign against insurgency in the North-East regions.

Mohammed, who spoke on Saturday when he visited the Internally Displaced Persons (IDPs) camp in Bama, Borno State, stated that intelligence gathering and robust advocacy would be used to sensitise Nigerians on the need to wage war against the insurgents. He noted that no nation has ever succeeded in the fight against insurgency without support of the civilian component.

“We will let Nigerians know that the fight against insurgency is a national issue and not to see it as ethnic or religious issue,’’ he said.
The minister said that the ministry would roll out national jingles to educate Nigerians on the need to be vigilant and report any suspicious movements to the security agencies.

He commended the military for keeping Nigeria one, and taking back Bama town and other communities in the North-East from the insurgents. Mohammed said the Federal Government would ensure that no Nigerian territory remained in the hands of insurgents before the end of the year.

According to him, as the insurgents failed to make further attack on villages, they could go under to attack soft targets such as hotels, markets, mosques and churches. “I urge Nigerians to be vigilant in these public places and ensure that they know their neighbour’s means of livelihood with a view to complementing the military’s efforts against the insurgents.

“I also call for synergy between the military and the media to enhance mutual understanding in the war against insurgency because security is everybody’s business,” he said.

Responding, Borno State Governor, Alhaji Kashim Shettima, commended the minister for the visit, noting that Mohammed was the first Minister of Information to visit the state to get firsthand information on the war against insurgency. He said the state had witnessed unimaginable destruction of 27 local government areas from 2009 to date caused by the insurgents.

The governor, who blamed the insurgency on poverty and unemployment, urged the Federal Government to address the problems of poverty, unemployment and lack of hope for youth.

NSE’s indices appreciate by N69 billion

Following price gains recorded by some highly capitalised stocks, transactions on the trading floor of the Nigerian Stock Exchange closed in an upward note, causing market capitalisation to appreciate N69 billion.

Yesterday, the market capitalisation of listed equities rose by N69 billion or 0.7 per cent from N9,500 trillion recorded on Friday to N9,569 trillion while the All-share index rose by 202.89 points from 27,631.05 to 27,833.89.

On the price movement chart, 16 stocks appreciated in price, as LawUnion &Rock emerged the day’s highest price gainer with 7.27 per cent to close at N0.59 per share. Dangote Cement followed with 6.27 per cent to close at N171.15 per share. Learn Africa added 4.55 per cent to close at N0.69 per share.

Wema Bank, Port Land Paints, Aiico garnered 4.44, 4.22 and 3.26 per cent to close at N0.94,N3.95 and N0.95 per share.
Sterling Bank gained 3.21 per cent to close at N1.93 per share. Oando added 1.53 per cent to close at N5.99 per share.

Other gainers of yesterday’s transactions are Flourmills, adding 1.05 per cent to close at N19.30 per share. TRANSEXPR also added 1.02 per cent to close at N0.99 per share.

On the other hand, Tigerbrands led 29 other on the losers chart with 945 per cent to close at N1.15 per share. Honeywell followed with 9.39 per cent to close at N1.64 per share.
UACN lost 5.00 per cent to close at N24.33 per share. Skye Bank, May&Baker, Continental reinsurance shed 4.97,4.81 and 4.76 per share.

Zenith bank shed 4.74 per cent to close at N15.29 per share. Fidson and Eternaoil dropped 4.71 and 4.61 per cent to close at N2.85 and N1.45 per share

The banking sector remains the most active stock with 42 million shares worth N358million while the insurance sector followed with N8 million units values at N6million

On the whole, investors exchanged 127million shares worth N2.5 billion in 2,434 deals.

Shareholders endorse Oando’s plan to divest subsidiaries, raise N80b additional capital

Shareholders of Oando Nigeria Plc have approved the company’s plan to divest any or all shareholding and investment  in the downstream business by way of sale, transfer or any other form of disposition to enhance growth.
   
Besides, the company also received shareholders’ nod to raise N80 billion by way of rights issue to existing shareholders.
   
The shareholders, who spoke at the 38th yearly general meeting of the company held in Lagos yesterday, also authorised the company’s directors  to appoint professional advisers and other parties for the  transactions.
   
Specifically, the president of Independent shareholders Association of Nigeria, Sunny Nwosu urged the company to do everything within its powers to ‘clean up’ the balance sheet and restore the company to profitability.

Similarly, the President, Progressive Shareholders Association of Nigeria, Boniface Okezie urged the company to divest some of its assets and subsidiaries and concentrate on few that add value to the business.
   
He added that it would help reduce the indebtedness to banks and boost the working capital.
   
“Identify the buyers that would do the business in a transparent and accountable manner. There is no need having 100 subsidiaries that are not adding value to the bottomline.”
   
The Managing Director of the company, Wale Tinubu explained that the company would conclude the divestment of downstream business within the next two years.

He pointed out that the company has continued to execute its strategic plan as outlined in previous years, successfully completing the first segment of the 10 km Greater Lagos Pipeline Ijora – Marina extension, and signed an agreement with an indigenous contractor for the 9km extension of the CHGC pipeline in Port Harcourt.

The company, according to him, has also signed agreements with General Electric, Nigeria to engage in various initiatives to develop power generation projects, compressed natural gas facilities and mini Liquefied Natural Gas (LNG) projects, aimed at aggressively expanding its gas footprint in Nigeria whilst remaining the gas provider of choice to consumers.

“Oando steadily navigated the ups and downs of the cyclical oil & gas market by adapting quickly, recording key operational milestones and being fiscally innovative to enable its business operations run efficiently. This led to an 82% increase in 2P reserves from 230.6 MMboe to 420.3 MMboe and an 11 fold increase in production from 4,531 boe/day in H1 2014 to 55,399 boe/day in H1 2015.”

Tinubu also explained that the company also reset its crude oil hedge floor price from an average of $95.35 per barrel to $65 per barrel.

This measure, according to him, saved the company $65 million in interest payments over the remaining term of the loan facilities used in its landmark acquisition of ConocoPhillips Nigeria.

He told shareholders that the company also upsized $91 million of its senior secured facility from $215 Million to $306 Million, and repaid its $100 Million African Export-Import Bank subordinated loan facility, thus reducing its debt position from $900million as of July 2014 to $500million as of October 2015.
He added that the company also completed the construction of the Island Jetty in Apapa, Lagos which will provide a more efficient platform for product receipt to all marketers and lead to higher margin volumes with an estimated $36 million expected annually in revenue and $120 million demurrage cost-savings for the sector per annum.

“Looking to the future, Oando’s E&P subsidiary is expected to contribute $150 million on an annual basis translating to expected dividends for shareholders once its debt  portfolio is cleared. It is incumbent for us to change because the whole world is changing. We cannot continue to grow without reviewing our balance sheet and selling what we fell is unprofitable for the company.”

The company recorded a turnover of N424.68 billion compared to N449.87 billion achieved in the corresponding period of 2013 while loss after tax stood at N179 billion compared to profit after tax of N4.68 billion posted in 2013.

Similarly, the company for the six months ended June 30, 2015 declared a revenue of N60.32 billion against N55.67 billion posted in the comparative period of 2014.