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Women and Africa’s development

It is evident that
African women are the backbone of national economies. From the
grassroots to national level, the womenfolk are involved in all spheres
of development. Apart from performing all domestic chores, many of them
also farm and trade. They are also responsible for taking care of the
children, the sick and the elderly, in addition to performing essential
social functions within their communities. About half of our
economically active female labour force is employed in agriculture and
their responsibilities and labour inputs sometimes exceed those of the
men. All these efforts are mainly geared towards the survival of the
children.

In fact, many
people who today are benefiting from the fruits of education have their
mothers to thank for it. The women are also increasingly getting
recognised due to their energetic efforts to organise, articulate their
concerns and make their voices heard. At both grassroots and national
levels, more women associations have been formed. They have taken
advantage of the political openings to assert their leadership and
developmental roles. They are also pressing for an expansion of women’s
economic and social opportunities, and the advancement of women’s
rights. By improving their own positions, they are simultaneously
strengthening society as a whole, as well as enhancing the nation’s
broader development prospects.

The deputy
minister of Agriculture was indeed right in observing that African
women produce 80 percent of the continent’s basic food.

His observation
shows that state technocrats are increasingly recognising the roles of
women at the grassroots level for eventual full integration in national
development programmes.

However, despite
the huge contributions of women in the development of Africa, in some
parts of the continent their contributions have not translated into
significantly improved access to resources or increased decision-making
powers. Neither has the dynamism that women display in the economic,
cultural and social lives of their communities through their
associations and informal networks been channelled into creating new
models of participation and leadership.

A comprehensive
approach must be taken by governments in conjunction with development
agencies and women themselves to remove the social, economic and legal
constraints on women. Regional actions are also needed for implementing
the African Common Position for the Advancement of Women and the
Platform of Action adopted in Beijing. And national action plans must
be designed in broad consultation with women’s groups to complement
regional initiatives.

The advancement of
the welfare of African women should be the primary objective of all
countries.

Courtesy Daily Observer, The Gambia

Opinion

MY SIDE OF SPORT: Nigeria’s football in quicksand?

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MY SIDE OF SPORT: Nigeria’s football in quicksand?

Post World Cup 2010
in South Africa,and consequent to the less than average performance of
the Super Eagles at the Mundial, Nigerians sort of asked for the heads
of Sani Lulu and his NFF Board.

Official reaction to
this was not very clear but by some abracadabra, Sani Lulu was
impeached from the position of President, his Vice-President Mr. Amanze
Uchegbulam and Chairman Technical Committee, Chief Taiwo Ogunjobi went
with him while the rest of the equally culpable Board remained and Aminu
Maigari emerged as Acting President then. Honestly I wondered why the
rest of the Board that is guilty of inaction while the three top
officials impeached took all decisions and quite frankly ran a
triumvirate while the others, mere mortals just looked on helplessly and
mum only to back an impeachment exercise! The Lulu/Maigari Board joint
tenure having expired, an election was conducted with some bizarre and
unexplainable alignment of interests. New and old godfathers pushed
their influences against one another. Zoning options weighed against
competence and reason. The good and growth of the game were very distant
considerations. There was horse-trading, subterfuge and high level
intrigues.

Aminu Maigari who
led the impeachment of Sani Lulu emerged President with the strong
support of Sani Lulu! Delegates loyal to Sani Lulu voted for Maigari
because the latter had ‘apologized’ to Lulu. Incredible but it happened.

On ascension,
Maigari has been yoked with the balancing of all interests. And he
appears to be doing just well. With shrewdness and calmness even if with
a not so colourful mien,

Maigari is pushing on. Invitation to Ex-Eagles Victor Ikpeba, Christian Chukwu,

Austin Jay-Jay Okocha and a significantly populist move, the appointment of Samson Siasia as Super Eagles’ coach.

Young Shehu Dikko
was said to have rejected election support in return for concessions and
so lost out. Tijani Yusuf candidate of Capo De Tuti Capo,

Amos Adamu, got the
rude shock when his alter ego abandoned him or so it was claimed in the
media. Neutrals like Fan Ndubuoke, Lumumba Adeh and former
Secretary-General Alhaji Sani Toro were just as astounded by what went
on in the name of election into the NFF Board.

Well, howsoever,
Aminu Maigari emerged NFF President but not before the National
Association of Nigerian Footballers (NANF) had gone to Court to
challenge the holding of the elections, the legality or otherwise and
with sundry prayers asking for its rights denied in the substantive
suit. An order of Court putting the election on hold was violated and
contempt charges pressed against principal actors at the election. FIFA
ignited by the goings-on in our football purportedly issued a ban threat
and then followed with a “ban” vide a letter that was distinctly
Nigerian in wordings. The authenticity of that ban order is still not
convincing,

wearing very much
the gab of self-serving device of certain interest group. The truth
about that FIFA “ban” will emerge some day as many things about that
corrupt body have begun to do.

Activities in our
football appear to wake up as more actors emerge in an effort to resolve
the logjam. The Presidency’s concern manifests in Sports Minister Isa
Ibrahim Bio’s laboured efforts to put things right. Parties to the
dispute, stakeholders, respected past F.A leaders were consulted and a
roadmap to sanity appeared to have been described. NANF agreed and did
withdraw its suit from the Court with the understanding that certain
issues had to be resolved in its favour by the Maigari Board. Details of
what transpired therefrom appeared not to have been or re-lived the
spirit of the ‘settlement’ brokered by Sports minister, Isa Bio.

Ogunye weighing in

I thought at the
time and still believed Isa Bio merely played Pontius Pilate and leaving
room for more unrest. That restiveness is emerging again with a new
suit instituted by Jiti Ogunye dragging the National Association of
Nigerian Footballers and others to Court.

In a new suit filed
by Ogunye, a Legal Practitioner, the Court is being asked to determine
if the settlement between NFF and NANF amounted to the vacation or
setting aside of a specific order of Court annulling the election of
Aminu Maigari’s Board. Joined as Co-defendants are the Minister of
Sport, Mr. Isa Bio, Dr. (Sir) Patrick Ekeji, Director-General NSC, Aminu
Maigari and his Board, the NFF electoral committee, the
Attorney-General of the Federation and the Inspector-General of Police.
No date has been fixed for hearing. An interesting scenario is on the
cards when legal hostilities open in this matter.

Meanwhile, a
sub-plot is being stoked by people inside and outside the NFF. Coming
from one of Maigari’s concessions for support at the election is that
the seat of NPL Chairman would go to somebody in Sani Lulu’s camp, Taiwo
Ogunjobi to be precise, so he can as statutes prescribe come into the
NFF Board as second Vice-President. A rather preposterous back route for
Ogunjobi NFF Board and to be Lulu’s eyes in Maigari’s Board. It is
suffering a set-back though as their joint efforts to remove the
incumbent NPL Chairman Davidson Owumi by all means possible even in
clear violation of FIFA doctrine of non-interference is not going easy.

Baribote, another
aggrieved party is heading to Court to claim his rights, Sani Lulu and
his men are at the Court of Arbitration, Chief Segun Odegbami MON has a
strong case against FIFA pending at the Court of Arbitration (CAS),
Aminu Maigari is standing on the Ibidapo Obe Arbitration Panel
resolutions to send Owumi packing. And we are waiting to see if NANF
withdrawal of its substantive suit against Maigari’s NFF discharges the
annulment order and all the interjections as Jiti Ogunye appears to have
gone to court to interpret and or enforce.

These are my reasons
for saying our football is in quicksand and sinks deeper with competing
interests awaiting resolution today, tomorrow and perhaps for sometime
to come. The court will decide rightly I think?

Sports

2022 World Cup presents challenge for Qatar

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2022 World Cup presents challenge for Qatar

The questions began
almost as soon as Qatar won the right to host football’s 2022 World Cup.
How will a tiny, gas-rich Gulf Arab state cope with an influx of
hundreds of thousands of football fans? How will the fans cope with the
searing summer heat? What about drinking in a conservative Muslim
society?

For most Qataris,
the world’s most watched sporting event represents a chance to offer a
new image of their homeland and the wider Middle East.

“This is not just
for Qatar, but for the whole region,” Sheikha Mozah bint Nasser Al
Missned, wife of the country’s ruler, told Reuters in an interview.

“This is an
opportunity to eradicate misconceptions, not just about Qatar, but about
the wider Islamic and Arab world. We are a very welcoming country, a
young nation. And we are not just dreamers, we are achievers.”

Alcohol no issue?

But the questions
are likely to continue right up to the World Cup itself. Take alcohol,
which many fans see as part of the football experience.

Although not “dry”
like neighbouring countries such as Saudi Arabia and Kuwait, alcohol is
served only at elite hotels in Qatar, and public drunkenness is
prohibited. Will the rules be relaxed in twelve years time?

Bid organisers have promised that some concessions will be made.

“The bid committee
has done its homework. We recognised that there would have to be some
allowances in (alcohol) availability. It’s not especially looking
forward to hordes of drunken football fans behaving in an antisocial
way, but no country welcomes that,” said Mike Lee, a consultant who
advised Qatar on the bid and helped London win the 2012 Olympics and Rio
those in 2016.

“Qatar is an
environment where Westerners are welcome, and already has a large expat
population. Not only is alcohol readily available at hotels, but for the
period of the World Cup it would be offered in other areas as well,”
Lee said.

Expats currently comprise about 80 percent of Qatar’s population of 1.7 million.

Consumption of
alcohol is likely to be largely ignored by the country’s predominantly
young population, as it is swept away with the euphoria of hosting the
competition, many believe.

“Around 50 to 60
percent of the population are aged in their 20s or below, so they are
more tolerant and I think they will embrace the event as a whole,” said
Sultan al-Qassemi, an Emirati social commentator based in the United
Arab Emirates.

The number of
outlets serving alcohol in Qatar is likely to increase over the next 12
years, Qassemi said, while a planned $3 billion 40-kilometre causeway to
Bahrain, where alcohol is more freely available, may also make it
easier to bring drink into the country.

Importing alcohol
into Qatar is currently illegal. Government and bid officials have not
said whether this will change prior to the tournament or for its
duration.

“I imagine that they
will set up areas for conspicuous alcohol consumption; a bit like how
they divide off restaurant areas in Dubai malls during Ramadan,” said
David B. Roberts, a researcher at Durham University in the UK.

“(Qatar’s Emir) came
to power largely, though not exclusively, by successfully courting
younger generations. Sport played a significant role in this. His
calculation is that Qataris will be proud enough of Qatar hosting the
World Cup to forgive him the liberalising of the laws,” Roberts said.

Ferocious summer

Then there’s the heat, which in summer can soar to above 50 degrees Celsius, making even crossing the street a challenge.

Although the
tournament will be played during the two hottest months of the year, bid
organisers say the heat inside the stadia will not be an issue, thanks
to climate-controlled, zero-carbon-emitting stadiums.

The country plans to
harness solar-powered technology to cool stadia to about 27 Celsius on
the pitch – a system that has worked on one small stadium in Qatar but
is yet to be proved on bigger buildings.

How fans will cope outside the stadia, however, is another matter.

“The bid committee
and government have been very astute about bringing in engineers,
architects, and designers. Given the technology they’ve already
developed, it could very well also be possible to air condition fan
zones, not just the stadia,” Lee said.

Though World Cups
are traditionally held during the northern hemisphere’s summer months
after the end of domestic league competitions, some have suggested that
the event take place in January, when temperatures are a comfortable 25
degrees.

“Plans for the
biggest leagues would have to change for 2022, but that would not be a
major undertaking,” FIFA executive committee member, Franz Beckenbauer,
said recently in comments to German newspaper, Bild.

Bid committee and government officials are yet to comment on such a move.

In its technical report, FIFA cited Qatar’s intense summer heat as a potential health risk for players and spectators.

“In my view, FIFA
has sold out the heritage of the World Cup – their coffers might be full
at the end of it, but morally they have bankrupted themselves by
totally ignoring what their own inspectors said about the unsuitability
of the place to host the tournament,” said one UK-based soccer analyst.

The decision to
award the event to Qatar, made amidst allegations of collusion, drew
much media criticism, particularly from the British press.

Two FIFA executive
committee members were banned and fined over allegations they had
offered to sell their votes in the vote to host the 2018 and 2022 World
Cups. But FIFA’s ethics committee, which investigated allegations of
collusion, found no evidence that Spain and Portugal’s joint bid, which
lost out on the right to host the 2018 Cup, had cut a deal with Qatar.

Ready to spend

Qatar says it will
prove it is a worthy host. Over the next five years, it plans to build a
$25 billion rail network, a $5.5 billion deep water seaport, and a new
airport for $11 billion which will be connected with big new residential
and commercial projects in the northern part of the capital, Doha, by a
$1 billion crossing. It will also spend an additional $20 billion on
new roads.

For the World Cup,
plans are in place to complete a metro system connecting each stadium by
2017 with venues no more than one hour apart from each other.

“The Qatar team made
a very conscious decision to bid for 2022 and not 2018, whereas several
bidders put themselves into both. They knew they were going to need a
decade to deliver everything,” Lee said.

Blessed with
abundant hydrocarbon resources – the country contains the world’s third
largest gas reserves and is the largest exporter of liquefied natural
gas (LNG) – it has poured much of the windfall from LNG exports into
education and cultural projects.

It hosts a cluster
of elite Western universities, a scientific research park filled with
blue-chip energy companies, and a much-lauded museum of Islamic art. It
plans a host of other museums, including one designed by famed French
architect, Jean Nouvel.

“What struck me
about Qatar was that they really do want to put these resources to very
good purposes. It’s not a question of just letting the oil and gas
flow,” Lee said.

“The international
and media interest in Qatar will now be tremendous. Rather than focusing
on the political troubles in the region, the win is an opportunity to
talk about what a country can achieve if it uses its resources in the
right way,” he further said.

Altering perceptions

“With the world
watching, Qatar will want to send a clear message: we deserved this,
we’re going to make the most out of it, and we’re going to show everyone
a different side of the Arab world,” said Shadi Hamid, director of
research at Brookings Doha Centre, the Qatar branch of the Washington
think tank.

To this end, Qatar’s
bid committee put a woman, Sheikha Mozah, at the heart of the final
presentation, a move which some analysts believe impressed the
committee. The only other bid to do that was Russia, winner of the 2018
tournament.

Bid CEO, Hassan
Al-Thawadi, also promised that Israel would be welcomed to compete. FIFA
would not have entertained a bid from Qatar if there was any suggestion
that Israel, shunned by most of the Arab world, would not be allowed to
compete if it qualified.

A shared cup?

FIFA president, Sepp
Blatter, recently suggested that Qatar could host the event with
neighbouring Gulf countries. But observers in the region say that it is
unlikely the Gulf state will share the glory.

“Obtaining the World
Cup is the apogee of Qatar’s policies in the past decade, where they
have shown a single-minded determination to publicise themselves as much
as possible, primarily to boost Qatar’s soft power,” Roberts said.

“The Gulf is a competitive place. Hosting the World Cup, the
publicity it will bring, the contacts that will be made, the money on
offer, the kudos and respect that hosting a successful event will bring,
may prove a massive competitive advantage,” he added.

Sports

Meeting Anthony Enahoro

Meeting Anthony Enahoro

On the phone recently, a friend let slip that he was going to a
meeting in a matter of days at which Chief Anthony Enahoro would be present. My
mouth fell open but no sound came, a quiet hysteria gripped me. Here was my
chance to brush fleetingly with indestructible history. To have my existence
validated by this meeting of paths, as a small stream is validated by its
confluence with a mighty river. It was my chance, and it was slipping away.
Then came a lifeline as my friend said, ever so casually: “You can come
along if you want”. I seized upon it, and blurted out: “Of course I
would love to come!”

We walked into the hotel on the day and saw Taiwo Akinola,
Secretary of the National Reformation Party (NRP) Europe Chapter. He was
weighed down by six or so hardback copies of Enahoro’s 1965 book Fugitive
Offender. Akinola waved goodbye to a lady from the book’s publishers, who
had helped source these used copies from various libraries in England. We
proceeded further into the hotel until I could make out Chief Enahoro’s figure
further ahead in a reception area. My smile masked the butterflies in my
stomach as I forged ahead with my two companions. I heard my name announced as
I took the Chief’s hand, my knees lowering in courtesy.

I took a seat on another table from where I could catch some of
Chief Enahoro’s conversation, conducted sometimes in English, sometimes in
Yoruba. I was pensive as I contemplated the moment. No words could adequately
capture my feelings about seeing this man whose life has been closely
intertwined with Nigeria’s history; whose actions helped shape the course of
that history. To me he was like an oracle, on whose person is written epochs I
could not even begin to imagine.

Soon others arrived, including Dr Philip Idaewor, head of NRP
Europe. He had read some of my writings and shook my hand warmly, saying:
“Ah! The lady who destroys people with her pen!” This he said with
great conviviality, and one does not defend oneself against a compliment. I was
the only female present, and when I wondered aloud whether it would be
appropriate for me to “put my journalist’s hat on”, Chief Enahoro
jokingly replied: “It would have to be a journalist’s gele”. There
was a benevolent atmosphere to the meeting, during which we mere mortals spoke
freely in the presence of a great man who made one feel at ease. It dawned on
me that true greatness needs not assert itself. It can simply be.

Dr Tony Kakhu, a research fellow at London’s Imperial College, was
also a first time observer in the group. He wanted to know the party’s plans
for regrouping ahead of the 2007 elections. Chief Enahoro’s definition of a
political party differs somewhat from that of the INEC, which places more
emphasis on the number of seats held by parties. To Enahoro, a political party
does not have to contest elections: “A party can be about ideas, and
Nigeria lacks ideas”. His is a long-term vision in which it matters not
that the NRP is not in power today; it can be in 10, 20 years time, or as he
explained, the big parties can adopt NRP’s ideas. “Politics is a game of
ideas. If a game of numbers, China would rule the world”, he declared.

There were concerns about external forces seeking to influence the
emergence of a Nigerian leader in 2007. It was noted that similar policies in
the fifties and sixties had resulted in the elimination of progressive African
leaders like Lumumba and Nkrumah to be replaced by despots like Mobutu and Idi
Amin. All agreed that the monetisation of Nigerian politics further exacerbates
the problem, and should be resisted.

The group reiterated its position on a Sovereign National
Conference at which all groups in Nigeria would be represented. Chief Enahoro
recalled the Conference held before Nigeria’s independence, for which the
British had initially asked for the three leaders only – Awolowo, Azikiwe and
Balewa. “We wrote a stinker”, said Enahoro, smiling at the memory;
“it was my honour to take the stinker to the Consul General”. The
“stinker” informed the British that they would need more than just
the three leaders for a Sovereign National Conference, and the colonial power
was forced into rethinking the process. The Chief also shared his views on party
composition: “You can no longer sell the idea of a party based purely on
ethnicity. Even in Yorubaland, people don’t want that. They like the idea of
members in Calabar and other places.”

Copies of Fugitive Offender lay on the table. One, bearing
the sticker and stamp of the House of Commons Library, had come from the many
copies of the book in the British Parliament. I sniffed at it, wondering if the
Nigerian Legislature had a copy, or valued its importance at all. It was my
first time seeing the book and Taiwo Akinola informed me that this was by no
means unusual; 95 percent of Nigerians had never seen it either. I leafed
through the pages. A photograph of a young and handsome Enahoro in traditional
dress – he could have been the prince of some ancient kingdom. Awolowo and his
beloved HID on one page, Zik of Africa smiled on another, and so on – each page
suffused with history.

There are plans to publish a second edition of Fugitive
Offender later this year, to give younger generations the opportunity to
know about the book, and the man. This is important, Akinola said,
“because of his relevance in Nigerian life and politics”.

Official meeting ended, I moved across to Chief Enahoro’s table to
ask him questions over drinks. He was feeling peckish but all the hotel could
offer by way of snacks were chips, which the Chief called by their American
name, French Fries. A plate of chips duly arrived and he motioned for me to
join him as he tucked in. I looked at the chips but held back, not wanting to
break the spell of this enchanted hour.

I asked for Chief Enahoro’s views on the way forward for Nigeria.
“The way forward to where?”, he asked. I certainly didn’t know. But
he was forthcoming: “We need to recreate Nigeria on the basis of a
restructured federation and it should be a federation of nationalities. Each
nation should itself be a federation of the sub-nationalities. This should
accord with our natural existence. It would be easier to build a democracy on
that basis”. News of Chief Aminosoari Dikibo’s killing had broken in
London but the details were still sketchy, so Chief Enahoro did not want to
comment. But on the spectre of high-profile assassinations in Nigeria
generally, he expressed the view that the system we are operating “is
contributing to this outbreak of violence”. He believes the easier it is
to remove people from office the more senseless it is to seek to eliminate them
because there is no other way.

Chief Anthony Enahoro had been away from Nigeria for two months,
preoccupied with the “daunting task” of writing his memoirs. He hopes
to complete the project in the next 15 months. The new edition of Fugitive
Offender will be followed by a collection of his speeches through the
years. The final part of the memoirs will be mainly political, covering major
events in Nigeria from 1963 to the present. In undertaking the project, Enahoro
believes his task is to report and interpret the events for the benefit of the
post-independence generation. In so doing, he is “not trying to lecture
them, just stating the particulars of life” as he recalls them.

Our chat over, I moved along to allow others the chance to talk to
him. There were still plenty of chips left but the Chief seemed to have had his
fill, so I pulled the plate close to me. These were historic chips, and I was
determined to get some inside my belly. I wolfed them down with relish, though
I wasn’t hungry.

Then it was time to go. “Ee pe fun wa Sir”, I said to
Chief Enahoro in Yoruba as I shook his hand in farewell, wishing him plenty
more years this side of heaven. “Why do we write things down?”,
someone asked in print recently. “To make them real, perhaps”, she
sought to explain. The friend who took me to the meeting, NRP Europe official
Dele Ogun, knew instinctively that I would write of the experience.
“Somehow, the chips will find their way into the recount, I’m sure”,
he speculated. “You bet”, I felt no shame confirming. When you have
eaten from the same plate as the man who moved the motion of Nigeria’s
independence, you don’t let the matter rest.

What a burden it must be for men like Chief Enahoro, for almost
every person you meet to look at you as a living relic of a valiant past, which
must of necessity point the way forward. I remembered a documentary I saw last
year about Nelson Mandela. In one scene, the Madiba was leaving a function at a
hotel in South Africa when suddenly a kitchen maid appeared in the lobby,
plastic cap and apron still in place. Forbidden perhaps from leaving the
kitchen, she heard that Mandela was passing by and, unable to help herself,
broke hotel protocol. She wept and tore at herself as she wailed after the
hero, yet made no attempt to approach him. Her words about what he meant to her
were subtitled for us in English at the bottom of the screen. Mandela, who must
get this kind of thing daily, did not look back. “Mandela! Mandela! I have
waited for this moment!”, shouted the kitchen maid as the old man made his
way slowly to the lift, burdened by history.

If Chief Anthony Enahoro is burdened by history, or the constant
gaze of an endless stream of people like me, it didn’t show. Enahoro is now an
octogenarian like Mandela. There are no sweeping comparisons to be made between
the two, but it could be argued perhaps that certain parallels exist. In
Enahoro’s presence I knew something of what that South African kitchen maid
must have felt on seeing Mandela, only I was not weeping or tearing at myself.
Unlike her however, I had not waited for the moment. Quite simply, I never thought
I’d see the day.

First published in The
Guardian (2004)

newstoday

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.

newstoday

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!

Money

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.</

Money

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.

Money

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.

Money

Cote d’Ivoire braces for trouble with new protest