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Akunyili’s APGA move roils Anambra politics

Akunyili’s APGA move roils Anambra politics

One of the strong
points of former information and communications minister, Dora
Akunyili, is her ability to confound expectations, and this she
confirmed last Wednesday when she left her former colleagues in the
Peoples Democratic Party to defect to the All Progressives Grand
Alliance (APGA) on whose platform she plans to contest the Anambra
Central Senatorial ticket. Mrs. Akunyili, last Wednesday stunned the
nation when she resigned her appointment from the federal cabinet to
pick the senatorial form of the APGA. Many politicians, including the
Anambra State governor,

Peter Obi, hailed
her action as courageous and wise. But others saw it as a risk. Yet to
some others, her adoption of the APGA platform made no difference. But
it is a different kettle of fish for some of those vying for the same
seat in the party who feared there was an orchestrated move by the
party hierarchy to foist her on APGA, despite early assurances by the
party that there would be no favoured candidates. While receiving her
into APGA, its national chairman, Victor Umeh told Mrs. Akunyili there
would be no automatic ticket for her as she would have to endure the
rigours of a primary election.

Apparently not
satisfied with that assurance, the only APGA House of Representatives
member from Anambra State, George Ozodinobi, who represented Anaocha,
Njikoka and Dunukofia federal constituency from 2003 to 2007, fired the
first salvo when he accused Mrs. Akunyili of political prostitution.
According to him, there was no reason why she should leave her party,
PDP, for APGA at a time when she was needed by President Goodluck
Jonathan in his election bid. Mr. Ozodinobi believed she might have
taken the decision based on assurances of an automatic ticket, even
though he did not buy the idea she had been adopted by the party.

“Adoption is not a
proper word because no one has said anyone is to be adopted. But if we
can pre-empt what is happening, something must have given her the
confidence to come out and want to join APGA between now and January
2nd when there will be primary to begin to know the grassroots; to know
even the name of her ward’s women’s leader and stand for an election in
APGA to win the primary,” Mr. Ozodinobi said.

A level field

He threatened to go
to court if eventually she was adopted by the party. “I believe in the
rule of law. The Electoral Act says every party must do primaries. Let
there be transparent primary. That’s all I’m asking for. Nobody is
above the law. And the courts are there for redress to be sought if
things are done to the contrary,” Ozodinobi warned.

But APGA insists
there will be a level playing ground for all the candidates. In a chat
with NEXT in Awka, the state vice chairman, North, of the party,
Fidelis Okafor, assured the other candidates they had nothing to fear.

“To the best of my
knowledge, yes, APGA intends to do a transparent primary. That’s what
we’re preparing for and that’s what we promised our aspirants. The
issue of who picks APGA tickets will solely depend on the outcome of
the primaries,” Mr Okafor said. He said it was natural for aspirants
such as Mr Ozodinobi to be apprehensive, but assured that nobody in the
party, no matter how highly placed, was thinking of an automatic ticket
for Mrs Akunyili.

“Akunyili, like others, is desirous of running for senate and APGA is her choice as she has told the world,” Mr Okafor said.

But while her new
party appears happy to have her, given her intimidating credentials,
other parties say they are not intimidated. Underwhelmed opposition
parties Afam Ilounoh, state publicity secretary of the People’s
Democratic Party, PDP, while welcoming Akunyili into the race said his
party had nothing to fear.

“It’s an
interesting development. She’s well known and well respected. The game
has become even more interesting now she has thrown her hat into the
ring, but PDP has nothing to worry about as it will win next year’s
elections in Anambra State. In no way are we intimidated by her entry.
Anambra is a PDP state and PDP will take it over in 2011,” Mr. Ilounoh
said.

Tony Nwafor Okafor,
a leader of Congress for Political Change (CPC), said Mrs Akunyili’s
entry was just like any other person’s. He said she needs to win her
party’s nomination first before other parties could worry about her
candidacy. “After that, she should brace up to face other parties’
candidates. She may have been successful as NAFDAC boss and in other
positions, but she has never been elected. This time she should prepare
for battle,” Mr. Okafor, who boasted that CPC would sweep the stakes,
said.

For the Action
Congress of Nigeria, Mrs. Akunyili’s entry into APGA had not added
anything to APGA’s electoral fortunes, even as the party spokesperson
said it amounted to a vote of no confidence on PDP which she left.

“The equation has not changed one bit with her entry,” ACN’s Anambra State publicity secretary, Madukaife, told NEXT.

According to him,
Mrs Akunyili had just succeeded in reducing the Igbo quota in the
federal cabinet. He said ACN would win the three senatorial seats on
offer in the state.

Support from above
However support is coming Akunyili’s way from an unexpected quarter. A
prophet, Rama Asuzu, from the ancient Nri Kingdom in Anambra State,
wants Nigerians to support Akunyili so that she could even become the
senate president.

“I wish that a
woman would be the senate president in the next dispensation and the
expected woman is Prof Dora Akunyili. She will perform more than she
did at NAFDAC and in her former ministerial position because she is a
chosen vehicle that will take the less privileged beyond the shores of
lack of want,” Mr Asuzu said.

He added that Mrs Akunyili was destined to use her position to give succour to orphans and widows.

“This will be a manifestation that will encourage women to keep
participating fully in the Nigerian polity in order to save the country
from the vicious circle of unreason,” he said.

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Delisting plan leaves many questions unanswered

Delisting plan leaves many questions unanswered

Nigeria is left licking her wounds once
more with the planned delisting of Nigeria Bottling Company, bottlers
of Coca Cola and other soft drinks, from the Nigerian Stock Exchange.

NBC recently announced that its parent
company, Coca-Cola Hellenic Bottling Company South Africa, intends to
invest up to N45 billion in Nigeria between 2011 and 2013 in order to
expand its commercial base. Consequently, the proposed transaction will
involve the cancellation of part of the share capital of NBC, so that
it would become a wholly-owned subsidiary of Coca-Cola Hellenic. The
proposal includes a cash payment of naira 43.00 per NBC share as
consideration to the minority shareholders.

However, some market operators have
raised concerns over the absence of policies that ensure multinationals
have part of their equity percentage listed on the bourse for the
benefit of local investors.

“I’ve seen in some jurisdictions, Ghana
for instance, when the government wants to licence a multinational
company, they will tell them the necessity of ensuring that part of the
equity percentage of the company will be thrown to the home-based
investors within a particular period,” Sunny Nwosu, the national
coordinator of the Independent Shareholders Association of Nigeria,
said.

Mr. Nwosu asked that the Nigerian
government should also have a means of persuading multinational
companies in the telecommunication, oil and gas sectors to be listed on
the Exchange.

“A company like MTN, Shell, and Chevron
and other exploration companies should also be persuaded to list their
companies. Their ordinary 10 percent equity will deepen the market and
give a lot to local investors,” he said.

Mr. Nwosu blamed Nigerian directors in those companies for their greed.

“I blame the directors because they
could not advice the foreigners on how to ensure that the power of
Nigeria spending is shared through profits to Nigerians,” he said.

He added that “any value that a company
like MTN is having today is a value created by majority of Nigerians;
not a few of them as directors. If Nigerians today say they are not
going to patronise MTN, definitely the business will collapse. MTN has
been selling its shares in dollars to eliminate common Nigerians from
participating.”

The same sentiment was expressed by
Boniface Okezie, the national chairman of the Progressive Shareholders
Association of Nigeria, who claimed investors are not happy with the
delisting plan “since the company is still making money because
Nigerians are the consumer of their products. Nigeria is the main
destination for investment in Africa.”

Mr. Okezie said the company’s attitude
shows that “it doesn’t want to be regulated again,” adding that “if the
environment is not conducive for them, they can wind up and leave the
country.”

Investors should be concerned

In the meantime, finance analysts said
the capital market community should “worry” about the delisting plan
because the “move would naturally translate into a reduction of market
capitalisation.”

Analysts at Proshare Nigeria, an
investment advisory firm, said the immediate effect is the “blow on the
image of the NSE as an avenue for raising capital and trading in the
securities of listed companies.”

They added that “The NSE and the
Securities and Exchange Commission (SEC) should be worried that our
market is perceived as having failed in both important criteria of
successful markets.”

It remains unclear as at press time,
SEC plan of action on the delisting plan. Several attempts to get
comments from Lanre Oloyi, spokesperson of the SEC, and Simon Obidairo,
personal assistant to Arunma Oteh, SEC’s director general, went
unsuccessful as their phones were switched off.

But Wole Tokede, the Exchange
spokesperson, said NBC plan “does not have anything to do with loss of
confidence in the capital market.” Mr. Tokede said that the Coca-Cola
producing company has its reasons for delisting, adding that it is a
choice of a company to either be listed on the Exchange platform or
not.

Meanwhile, the chairman, House of
Representatives committee on capital market, Umar Jubril, in a
telephone interview, promised that the committee “will sit down with
the managements of the NSE and SEC to deliberate on the development” to
ensure shareholders’ interests are protected.

He said the committee is thinking in
the direction of wooing more multinationals to be listed in the
Exchange. “We’ll try to lure MTN for instance, NNPC, and other
companies that Nigerians can benefit from.”

Jim Lafferty, NBC managing director, in
a statement, said the new investment plan of NBC is going to make
Nigeria “one of the most important emerging economies in the world
during the next decade.”

The NBC, one the companies in the AG
Leventis Group, was established in Nigeria in 1951 and formed the
foundation of Coca-Cola Hellenic, the largest Coca-Cola bottling group
in the world. It was listed on the NSE on the 12th November, 1973.</

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PERSONAL FINANCE:Giving – the true meaning of Christmas

PERSONAL FINANCE:Giving – the true meaning of Christmas

Christmas is a time
when families come together, homes are decked out with Christmas trees
decorated with tinsel, ornaments and lights, sumptuous meals are
prepared and carols waft through the air as people dash about for their
last minute shopping spree.

In a sense, it has
become all about money; amidst it all, it is so easy to lose sight of
the true meaning of Christmas. What can you do this year that
epitomises the true spirit of Christmas?

Teach your children the gift of giving

We all love to see
the excitement on our children’s faces on Christmas Eve or Christmas
morning, ripping the wrapping paper off their presents. The experience
of receiving piles of gifts makes them believe that they must have lots
of new things for Christmas to be perfect. Try to emphasise the
non-material aspects of the season, such as family, fellowship, and
thoughtfulness.

It is not enough to
just tell our kids to be charitable and kind. Sometime during this
season, perhaps you can find time to visit an orphanage, a homeless
shelter, an old people’s home, or some of the flood victims who
recently lost everything that they owned.

Our actions in
supporting others will speak louder than any thing we can say. We must
guide them through a programme of action that becomes ingrained into
their psyche. It teaches them a powerful lesson about kindness and
generosity and that their money or talent can have a positive effect on
the wellbeing of others. It will also show them graphically how lucky
they are; they can take so much for granted.

A thoughtful gesture

The high cost of
living and unemployment means that many Nigerians face a dismal
Christmas and cannot afford a special meal on Christmas day. If as you
shop, your trolley is overflowing with goodies, why not shop for
another family that faces really difficult times and then have it
delivered to their doorstep.

There are so many
people in need of the simple things that so many of us may take for
granted. Think about all the food that goes to waste on Christmas day
and what a difference it would make to the numerous homeless people who
would be glad for a decent meal and some of the clothes you don’t need.

Elderly cheer

Have you ever
visited an old peoples’ home in Nigeria? Get a few friends, put some
money together, and take some gifts and treats to the elderly who have
found themselves in one of the old peoples’ homes in the country, in
spite of our extended family system. Cheer them up; the gift of
happiness and good stimulating company for an old person who might be
lonely during Christmas would make such a difference.

Give back through philanthropy

The definition of a philanthropist is “someone who donates his or her time, money, and/or reputation to charitable causes.”

By giving back to
your community, religious organisations, for education, for sports, or
for the arts, you afford yourself the opportunity and indeed the
privilege of making a positive impact on other people’s lives. Material
possessions will eventually lose their shine, but through philanthropy,
one can help others, and can shape, or even save lives.

Decide what causes
you may want to support and then review your finances to decide how
much you can afford to give. Will it be a one off donation this
Christmas or is it something you can continue to commit to year on
year.

Narrow your choices
down to a few charities or causes you feel comfortable with and do some
research on them to ensure that their ethos and mission is in
consonance with your core values; then choose say one or two to
support. Try to follow up to see how your donation is being used.

Give to your alma mater

Do you often
reminisce about how things used to be at your old school and how far
standards have fallen? Why don’t you do something about it? With an
endowed gift, you can provide permanent support for the educational
institution. Your contributions will be invested and each year a
distribution made to fund the programme or area that matches your
interest in a particular field of study.

Once it is
officially established, you or anyone else may continue to add to the
fund at any time. You may also decide to, through the title, forever
link your name or that of a family member to excellence at the college.
You contribution will go a long way in improving the standards of
education so badly needed in our country.

Give of your time

Even if you have
had a really hard year and it sounds absurd to even conisder giving
what you don’t have, focus instead of being grateful for what you have.
If you look around, you will find that there is always someone worse
off than you are.

Giving does not
mean that you must give only financially; there are several ways to
give meaningfully. The possibilities of giving of your time,
experience, talent, and intellect are endless and by sharing your
knowledge with others, you can add value to your community in this way.

As we get caught up in the whirlwind of festivity, socialising, and
present buying, it is little wonder that we often forget the true
meaning of Christmas. How can you make a difference? If you haven’t
been doing much for others before now, Christmas is a good time to
start. As we prepare for Christmas, let us not forget what we have been
given; God’s gift of His Son Jesus Christ. This Christmas, let us be a
blessing to others. Merry Christmas!

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Overvaluation claims trail Dangote Cement listing

Overvaluation claims trail Dangote Cement listing

Investors in
Dangote Cement have lost over 10.9 percent value of their investment
since the stock was listed by introduction on the daily official list
of the Nigerian Stock Exchange on October 26.

The reasons for the
drop in the share price are seen partially in the observations raised
in the report of the quotations and listings committee of the Nigerian
Stock Exchange (NSE).

In its appraisal
report on the scheme of merger between Dangote Cement Plc and Benue
Cement Plc, dated September 3, it raised the flag on the entire
valuation, merger, and listing process of the resultant entity. In the
report, which was submitted to the NSE council, it faulted the
valuation process that arrived at the price of N135 at which the stock
was introduced.

“On the face
value, the valuation of Dangote Cement is unreasonable. Dangote Cement
has an installed capacity of 5 million metric tonnes per annum, with a
debt overhang of N64 billion and it is valued at N2.025 trillion while
debt free BCC (Benue Cement Company), with an installed capacity of 2.8
million metric tonnes, is valued at N246 billion,” the report added.

The report also
pointed out the incidence of conflict of interest as both merging
entities had Afrinvest West Africa Limited as sponsoring stockbroker
while also acting as co financial adviser for Dangote Cement.

“The response of
the advisers is that the role of a stockbroker does not give rise to a
conflict of interest and that the scheme document has already been
printed and in the process of distribution,” the report stated.

Lower than potential value

Ike Chioke, the
managing director of Afrinvest West Africa, the merger advisers,
however, defended the fact that it acted as sponsoring stockbroker for
both merger entities and acting as co financial adviser for Dangote
Cement.

“By virtue of the
fact that we were broker to the merger, we then continued to prosecute
the special sale. The special sale is effectively a secondary
transaction,” Mr. Chioke said.

He said the stock
was even valued lower than its potential value, given the investment in
the company that was not captured in the valuation process. He said the
current valuation did not take cognizance the future growth of the
company and the fact that its production capacity would double by July
next year. He said that a company like Dangote Cement that trades about
N5 billion a day, a debt of N64 billion simply translates to working
capital.

“I will like you
not to quote what is rubbish because clearly that report was written by
somebody who works at the Stock Exchange and we do have issues with
people who work at the Stock Exchange who don’t understand their job,”
Mr. Chioke said.

He explained that a
company can be valued using different methods. “It can be valued based
on its earnings, that is, price earnings ratio. There is what is called
firm value, which is the value of the equity plus the cash and the debt
on the books.”

He said because of the size of the company, it was about 25 percent of the total capitalisation of the Nigerian stock market.

Wole Tokede, the
NSE spokesperson, said the business of valuation and listing price of
equities is that of the issuer and the issuing house.

“It must be
approved by the Securities and Exchange Commission before it can be
listed. If a stock is over valued at the point of listing, the market
will put it in its proper position,” Mr. Tokede said.

Indeed, the market is placing the stock in its position, as it has lost N14.75 as at last Thursday, closing at N120.25.

World class company

Tony Chiejine,
spokesperson for Dangote Group, said the company is building a world
class entity that would be a pride to the country.

“If you take a look
at the gross African asset and the plan of the company going forward,
you would agree that the valuation was done with this in focus. Look at
the tax we pay to government annually. There is no need throwing
stones. Instead, we should encourage local entrepreneurs,” Mr. Chiejine
said.

A source at Vetiva
Capital Management Limited, lead financial adviser to Dangote Cement,
said while it may be correct to say the company is overvalued at
current assessment, the company’s real value is in its future growth.
He said despite the debt free Benue Cement Company, its valuation was
done based on the efficiency of the technology that both companies
operate.

“BCC is an
inefficient and old factory. Power accounts for about 40 percent of the
cement plant. It uses low pour fuel oil (LPFO) while Dangote Cement
uses gas,” the source said.

The NSE report also pointed out the breach of a key listing rule of the Stock Exchange:

“The requirement
for 25 percent of the issued shares to be held by the public as only 4
percent of the issued share will be held by the public at the point of
listing.”

Mr. Chioke said this aspect had to be waived by the NSE due to the inability of the market to absorb 25 percent.

“No one can sell
N450 billion worth of share in Nigeria today. We wanted to sell only
100 million units but we ended up selling 196.1 million,” he said.

Afrinvest said the
regulators gave the company 24 months to sell down an additional 20
percent at the listing price of N135, in order to comply with the
listing requirements.

However, while
investors count their losses, the promoter, Aliko Dangote, Dangote
Cement chairman, is smiling to the bank. By virtue of the shares listed
on offer for sale, proceeds of the sale do not necessarily go to the
company but to the promoters of the company.

So in real terms,
funds realised from the transaction, about N26.5 billion, may not
necessarily translate to value to the company but definitely adds value
to Mr. Dangote.

“How else will he
recoup the money he has invested in the business over the years?
Dangote has invested his money. He may have borrowed money or he may
have invested his personal funds. He cannot steal the company’s profit,
or under declare profit.

“So, the only way is for him to sell off part of his holding. That is the standard worldwide,” the Vetiva source said.

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Fidelity Bank eyes acquisitions, growth

Fidelity Bank eyes acquisitions, growth

Fidelity Bank wants to expand rapidly to become
one of the country’s top three lenders, growing organically and potentially
through acquisitions, its chief executive said on Friday.

Reginald Ihejiahi said the bank is still
interested in buying local rival Afribank, one of nine lenders rescued in a $4
billion bailout last year, even though it has picked a private equity
consortium as its preferred bidder.

“With regards to the Afribank transaction, I will
just say that these are early days yet. It’s a transaction we are still waiting
on,” Mr Ihejiahi told Reuters in an interview in the commercial capital Lagos.
“We will do an acquisition if the price is right, if the contractual terms are
right.”

Banking sources said last week that a consortium
of private equity investors had emerged as the preferred bidder for Afribank
with Fidelity as the reserve bidder but Afribank made it clear that it’s in
talks with potential investors but gave no details.

Industry sources estimate private equity bidders
would need to raise up to 30 billion naira to bring Afribank up to minimum
capital requirement levels after state-run “bad bank” AMCON absorbs all of its
non-performing loans.

AMCON was set up to help recapitalise the nine
rescued banks by absorbing their bad loans in an effort to restore lending in
sub-Saharan Africa’s second biggest economy. It will also buy margin loans from
across the wider banking sector.

Mr Ihejiahi said Fidelity had disclosed all of
its non-performing loans (NPLs) to AMCON and wanted to sell them “We want to
sell 100 percent, we have no reason not to do that … We have very little
margin loans, we have about 5 billion naira,” he said, adding that bank chiefs
had met with AMCON on Thursday to discuss the process.

“They said they would like to focus on margin
loans but (AMCON) has assured that before you get to the second quarter of 2011
they will have taken up all the NPLs,” Mr Ihejiahi said.

He said the bank expects to grow its branch
network to 200 branches from a current 181 before the second quarter of 2011
and that it planned to apply for an international banking licence by the end of
the year.

The central bank has said it will stop issuing
universal banking licences in a bid to avoid a repeat of last year’s near
collapse of several lenders which led to the bailout.

The regulator wants to separate banks’ core
lending business from more speculative capital markets activities — such as
stockbroking, asset management, private equity and venture capital — to
protect depositors’ funds.

Under the guidelines, lenders will now operate as
regional, national or international banks with varying minimum capital
requirements.

“We are asking for their approval for us to be a
commercial bank which has an international aspiration … We plan to put in our
application before the year runs out,” Mr Ihejiahi said, adding Fidelity would
sell subsidiaries as needed.

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Akinyili’s APGA move roils Anambra politics

Akinyili’s APGA move roils Anambra politics

One of the strong
points of former information and communications minister, Dora
Akunyili, is her ability to confound expectations, and this she
confirmed last Wednesday when she left her former colleagues in the
Peoples Democratic Party to defect to the All Progressives Grand
Alliance (APGA) on whose platform she plans to contest the Anambra
Central Senatorial ticket. Mrs. Akunyili, last Wednesday stunned the
nation when she resigned her appointment from the federal cabinet to
pick the senatorial form of the APGA. Many politicians, including the
Anambra State governor,

Peter Obi, hailed
her action as courageous and wise. But others saw it as a risk. Yet to
some others, her adoption of the APGA platform made no difference. But
it is a different kettle of fish for some of those vying for the same
seat in the party who feared there was an orchestrated move by the
party hierarchy to foist her on APGA, despite early assurances by the
party that there would be no favoured candidates. While receiving her
into APGA, its national chairman, Victor Umeh told Mrs. Akunyili there
would be no automatic ticket for her as she would have to endure the
rigours of a primary election.

Apparently not
satisfied with that assurance, the only APGA House of Representatives
member from Anambra State, George Ozodinobi, who represented Anaocha,
Njikoka and Dunukofia federal constituency from 2003 to 2007, fired the
first salvo when he accused Mrs. Akunyili of political prostitution.
According to him, there was no reason why she should leave her party,
PDP, for APGA at a time when she was needed by President Goodluck
Jonathan in his election bid. Mr. Ozodinobi believed she might have
taken the decision based on assurances of an automatic ticket, even
though he did not buy the idea she had been adopted by the party.

“Adoption is not a
proper word because no one has said anyone is to be adopted. But if we
can pre-empt what is happening, something must have given her the
confidence to come out and want to join APGA between now and January
2nd when there will be primary to begin to know the grassroots; to know
even the name of her ward’s women’s leader and stand for an election in
APGA to win the primary,” Mr. Ozodinobi said.

A level field

He threatened to go
to court if eventually she was adopted by the party. “I believe in the
rule of law. The Electoral Act says every party must do primaries. Let
there be transparent primary. That’s all I’m asking for. Nobody is
above the law. And the courts are there for redress to be sought if
things are done to the contrary,” Ozodinobi warned.

But APGA insists
there will be a level playing ground for all the candidates. In a chat
with NEXT in Awka, the state vice chairman, North, of the party,
Fidelis Okafor, assured the other candidates they had nothing to fear.

“To the best of my
knowledge, yes, APGA intends to do a transparent primary. That’s what
we’re preparing for and that’s what we promised our aspirants. The
issue of who picks APGA tickets will solely depend on the outcome of
the primaries,” Mr Okafor said. He said it was natural for aspirants
such as Mr Ozodinobi to be apprehensive, but assured that nobody in the
party, no matter how highly placed, was thinking of an automatic ticket
for Mrs Akunyili.

“Akunyili, like others, is desirous of running for senate and APGA is her choice as she has told the world,” Mr Okafor said.

But while her new
party appears happy to have her, given her intimidating credentials,
other parties say they are not intimidated. Underwhelmed opposition
parties Afam Ilounoh, state publicity secretary of the People’s
Democratic Party, PDP, while welcoming Akunyili into the race said his
party had nothing to fear.

“It’s an
interesting development. She’s well known and well respected. The game
has become even more interesting now she has thrown her hat into the
ring, but PDP has nothing to worry about as it will win next year’s
elections in Anambra State. In no way are we intimidated by her entry.
Anambra is a PDP state and PDP will take it over in 2011,” Mr. Ilounoh
said.

Tony Nwafor Okafor,
a leader of Congress for Political Change (CPC), said Mrs Akunyili’s
entry was just like any other person’s. He said she needs to win her
party’s nomination first before other parties could worry about her
candidacy. “After that, she should brace up to face other parties’
candidates. She may have been successful as NAFDAC boss and in other
positions, but she has never been elected. This time she should prepare
for battle,” Mr. Okafor, who boasted that CPC would sweep the stakes,
said.

For the Action
Congress of Nigeria, Mrs. Akunyili’s entry into APGA had not added
anything to APGA’s electoral fortunes, even as the party spokesperson
said it amounted to a vote of no confidence on PDP which she left.

“The equation has not changed one bit with her entry,” ACN’s Anambra State publicity secretary, Madukaife, told NEXT.

According to him,
Mrs Akunyili had just succeeded in reducing the Igbo quota in the
federal cabinet. He said ACN would win the three senatorial seats on
offer in the state.

Support from above
However support is coming Akunyili’s way from an unexpected quarter. A
prophet, Rama Asuzu, from the ancient Nri Kingdom in Anambra State,
wants Nigerians to support Akunyili so that she could even become the
senate president.

“I wish that a
woman would be the senate president in the next dispensation and the
expected woman is Prof Dora Akunyili. She will perform more than she
did at NAFDAC and in her former ministerial position because she is a
chosen vehicle that will take the less privileged beyond the shores of
lack of want,” Mr Asuzu said.

He added that Mrs Akunyili was destined to use her position to give succour to orphans and widows.

“This will be a manifestation that will encourage women to keep
participating fully in the Nigerian polity in order to save the country
from the vicious circle of unreason,” he said.

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Fashola pleads with striking Lagos varsity lecturers

Fashola pleads with striking Lagos varsity lecturers

The governor of
Lagos State, Babatunde Fashola, on Friday called for negotiations with
lecturers of the Lagos State University (LASU) chapter of the Academic
Staff Union of Universities (ASUU) over the ongoing industrial action.

Explaining that
the state is willing to pay the workers their wages, Mr. Fashola, while
speaking to reporters at the presidential wing of the Murtala Muhammed
Airport (MMA), Lagos disclosed that his government has other pressing
needs that require financial attention.

“We are concerned
about the strike and we expect that some understanding [will] prevail
in our negotiations with the striking workers for we cannot afford that
this strike continue in the interest of the students. But here we are
as we continue to negotiate and discuss with them to see the reason;
this is not a case of unwillingness to pay but our inability to do so
if we must attend to all other competing social responsibility of the
state,” he said.

The governor
argued that the increase of employees’ wages by the federal government
should not be mandated of the states, adding that the lecturers should
be considerate of the plight of their students.

“The point really is that this is not an agreement we were part of.
The federal government negotiates a salary structure with its own
staff, it cannot impose that on the states and that really is the
substance but we believe that dialogue will be the critical element and
lecturers should be showing restraint and concern for the students
whose academics are being affected. Here we are too, we are dealing
with the problems of infrastructure; even the school, we are dealing
with the issue of accreditation, new classrooms, new libraries and it
is from this same purse where salaries are meant to be paid and the
money to re-acredit and to build all these structure,” he said.

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WikiLeaks’ Assange says he is victim of smear campaign

WikiLeaks’ Assange says he is victim of smear campaign

WikiLeaks’ founder
Julian Assange has declared that he is the victim of a smear campaign
after being freed on bail over rape allegations and sent to spend
Christmas at an English country house. The 39-year-old Australian
computer expert said that curbs on him, which he described as “hi-tech
house arrest,” would not halt the release of official secrets. Assange
walked free from a London court Thursday, freed on 200,000 pound
($312,500) bail after nine days in London’s largest jail. Sweden wants
to extradite him for questioning over alleged sexual assaults on two
WikiLeaks’ volunteers.

“This has been a
very successful smear campaign and a very wrong one,” Assange told the
BBC after arriving late Thursday at the country house in Suffolk,
eastern England where he will spend Christmas and the New Year.

He said he expected further attempted smears from the Swedish authorities but did not elaborate.

Assange angered the
U.S. authorities after his organization began releasing some of the
250,000 secret U.S. diplomatic cables it had obtained, teaming up with
newspapers around the world to amplify their impact.

Assange said his opponents had seized on the accusations against him to attack WikiLeaks.

“One only needs to
look at the sneering smile of Defense Secretary (Robert) Gates upon
hearing of my arrest… to understand the value to opponents of this
organization,” Assange said. Gates last week described Assange’s arrest
as good news. Assange is accused of having unprotected sex with one
woman, and sex with another while she was asleep.

“HI-TECH HOUSE ARREST”

As part of his bail
conditions, Assange must stay at the sprawling house owned by former
British army officer Vaughan Smith, situated close to the city of
Norwich, around three hours’ drive from London.

Smith has said that
the Internet connection at the house is not good. Assange, who must
report to police daily, abide by a curfew and wear an electronic tag,
said the conditions were “a gross impediment to my work” but would not
stop him.

“Now that I am back
to assist directing of our ship, our work will proceed in a faster
manner. But as we have seen with my absence, things are well set up to
proceed even without my direct involvement.” Assange told reporters
soon after his release that he was more concerned the United States
might try to extradite him than he was about being extradited to Sweden.

Assange and his
lawyers have voiced fears that U.S. prosecutors might be preparing to
indict him for espionage over WikiLeaks’ publication of the documents.

Australian police said WikiLeaks was not committing any criminal offence in Assange’s home country by releasing the U.S. cables.

Celebrities such as journalist John Pilger, film director Ken Loach and socialite Jemima Khan are backing Assange.

Janice Game, 63,
who lives opposite the Georgian house said she had come out to see
reporters waiting in the snow for Assange to drive through the gates of
the 650 acre estate.

“I do not think that Vaughan would have him at the house unless he believed completely that he was innocent,” she said.

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DANFO CHRONICLES: Love on a bus

DANFO CHRONICLES: Love on a bus

Nicholas Ibekwe,
now an award-winning reporter, did not have such a good start. As a
rookie reporter, one of his earlier stories was so salacious that his
editor asked him to take it elsewhere.

“Go to Sahara Reporters,” the editor said.

Mr. Ibekwe had been
in a bus that morning when a girl sitting behind him suddenly squealed,
pointing at the man beside her who was hastily pushing something down
his pants. She was talking so fast that her lines ran into each other,
like a child painting in watercolours. It took some time to separate
her words from sobs and string a meaning together. Apparently, this
fellow had, without investigating her taste, brought out his penis
right there in the bus as she bent her head, and proceeded to wag the
thing close to her face.

“Why did he show that to me?” she asked in horror.

Mr. Ibekwe’s story
tried to answer this question, and show how a peddler of sex-on-transit
met his Waterloo. But the reporter’s story, including comments by
passengers, were considered too risqué for a family newspaper, and Mr.
Ibekwe ended up with a lecture instead of a byline.

I took a bus from
Obalende to Oshodi recently, and a boy on the bus made such a gallant
effort to woo a deaf girl that Mr. Ibekwe’s report came to mind.
Although, nothing as brazen as the whipping out of privates took place,
the entire “conversation” – full of gestures, vigorous mime, and missed
cues – left little to the imagination. When the girl spread her palms
to ask what he wanted, he cupped the palm of his hand and put a finger
through. The girl covered her mouth in shock.

It was high drama and the young Cassanova’s brother who was sitting beside me ran commentary.

“Kunle is like that,” he told me. “He likes girls too much. Our father is tired of talking.”

When the conductor
came round, Kunle paid for the girl and gestured that his brother would
pay for him. My seatmate had to pay for two, and he wasn’t too happy.

“Kunle,” he warned, “Wait first. I hope you know that you cannot bring this kind to the house?”

The girl,
blissfully deaf, was giving Kunle her full attention. By now their
public romance was in full swing, and bemused passengers egged them on.
She was laughing at the boy’s reckless use of sign language. While she
could convey a lot by a small gesture, a twirling of the fingers, the
boy had to dramatise everything, talking the whole time, sometimes
forgetting that she couldn’t hear him.

“How much will you take to follow me home tonight?” Kunle asked, using a combo of words, signs and dance.

The girl put her palms together.

“Ten what?” asked
Kunle eagerly, “N10?” and he brought out a N10 note to show her. She
shook her head vigorously. “Oh, you must mean ten tens then,” he said,
taking out a hundred naira note. But the girl laughed.

“You people are hard to understand,” said Kunle who delved into his pocket to fish out a crisp N1,000 note.

“Kunle!” exclaimed
his brother, “You said you had no money when we went to eat, and now
you want to give N1,000 to a deaf girl, abi?”

Loverboy, deaf to
recriminations, was busy pressing the money on the girl. She shook her
head, and brought her palms together, again. Kunle was now confused.

“She said she wants N10,000,” said an old man beside him, helpfully.

Kunle flipped his lid and abandoned pantomime altogether.

“You are a thief,” he shrieked. “If I give someone like you N10,000, how much will I give the ones who can talk?”

And there was politically-incorrect hearty laughter all round.

“Good for you,”
said his brother, alighting as the bus came to a stop at Iyana Oworo.
“Are you going to come down now or are you following the deaf one
home?”

Still, our friend
continued to press the girl to reduce her charges. The driver engaged
gears, warning that he wouldn’t be stopping until Oshodi.

“What of N3,000?” Kunle asked, one eye on the door as the bus began to move.

Suddenly, as if on cue, a number of voices shouted: “Kunle!” and he scrambled out of the bus to fits of laughter.

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Cote d’Ivoire braces for trouble with new protest

Cote d’Ivoire braces for trouble with new protest

Allies of
presidential claimant Alassane Ouattara urged Ivoriens to join a new
march through Abidjan to seize the state broadcaster’s building on
Friday, raising fears of more violence in a dispute over last month’s
election.

A failed attempt by
Mr. Ouattara’s camp to occupy the building on Thursday left at least 10
protesters dead as they clashed with security forces armed with live
rounds, while pro-Ouattara forces waged a brief gun battle with forces
loyal to incumbent Laurent Gbagbo in central Abidjan. The United
Nations, the US, African states and others have called on Mr. Gbagbo to
stand down after the November 28 poll they say was won by Mr. Ouattara,
but which Mr. Gbagbo insists was rigged by rebels who still hold the
north after a 2002-2003 civil war.

“We will continue
to march,” Mr. Ouattara’s spokesperson Patrick Achi said by telephone
after Thursday’s violence in the West African nation’s economic capital
heightened fears of a return to all-out conflict.

A Reuters
eyewitness said there were few early signs of protesters gathering on
the streets of Abidjan, which were much quieter than usual. Many shops
remained shut and there was little traffic in the streets.

The success of Mr.
Gbagbo’s forces in repelling the march on state TV and radio on
Thursday suggests he retains a strong grip on key parts of the armed
forces, including the presidential guard that witnesses said played a
major role in Thursday’s incidents.

Mr. Gbagbo’s
government spokesperson said at least 20 people were killed in
Thursday’s anti-Gbagbo street protests in Abidjan, 10 of them
demonstrators and 10 security forces. Mr. Ouattara’s rival government
said security forces had killed 14 protesters when they opened fire on
them. Mr. Gbagbo’s camp has alleged that some of the protesters were
armed, while Mr. Ouattara’s allies have cited the presence of armed
Liberian militias in Abidjan attacking demonstrators. Both sides deny
the allegations of the other camp.

Violence flared
elsewhere in the country on Thursday as pro-Ouattara rebels and
government forces exchanged fire for hours in Tiebissou, the central
town marking the line between the rebel-held north and government-held
south after the war.

“Both the
pro-Gbagbo FDS (security forces), and the pro-Ouattara former rebel New
Forces (FN), appear battle-ready, and it would take very little to
spark all-out confrontation,” said Rolake Akinola, Africa analyst for
VoxFrontier Consulting.

Fear of a
disruption to supplies in the world’s top cocoa grower pushed future
prices close to four-month highs reached last week. The key March cocoa
contract in New York rose $24 to end at $3,003 per tonne on Thursday.

All eyes will be on
the actions of the local U.N. peacekeeping force if the situation
deteriorates. The United Nations has about 10,000 soldiers and police
in the country. The force has a mandate to protect civilians but said
its job was not to protect the march. Separately, a top-level African
Union delegation is due in Abidjan on Friday to attempt discussions
with both sides on the crisis. However the continental body has said it
does not think a power-sharing deal similar to that reached by Kenya
after disputed 2007 elections would not be acceptable.

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