Tag: Nigeria

  • 90 Nigerians deported from Tunisia

    About 90 Nigerians deported from Tunisia on Tuesday arrived the Murtala Muhammed International Airport (MMIA), Lagos.

    According to the South West Zonal Coordinator of NEMA, Mr. Iyiola Akande, the deportees arrived Murtala Muhammed International Airport (MMIA), Lagos  in Nouvel Air Airbus 320-214 with registration number 177Y at 12:32 am

    They were earlier scheduled to arrive 3:05 pm on Monday.

    The South West Zonal Coordinator said that the repatriation was facilitated by the International Organisation for Migration (IOM) with the support of Tunisian government.

    The returnees were received by various agencies such as Nigerian Immigration Service (NIS) that checked their identities to ascertain their nationalities, NAPTIP, Police and other stakeholders.

    The returnees he said consisted of two infants of five months and fourteen months old, 12 teenagers, which also has 13 young women and 61 young men.

    He disclosed that 71 of them came from Edo state, eight from Delta State; three are from Imo and Lagos State while Kano and Plateau has two and one among the returnees respectively.

    One of the deportees Success Smart, a 15 year of teenage girl claimed that she travelled out of the Nigeria two years ago through the tedious Libyan route.

    On why she did not return with the earlier batch during Libyan repatriation exercise, she said she was learning a trade to become of hairdresser and that her parents refused to sign agreement with her master as an apprentice while she was in Nigeria.

    She, however, regretted travelling out of the country and urged other Nigerian youths against seeking greener any pasture abroad.

    The deportees said that there is no crisis in Tunisia but that there is no country place like home.

    Akande disclosed that officials of National Agency for Protection and Trafficking in Persons (NAPTIP) have taking over the case the cases of the teenagers for reorientation and rehabilitation actions.

    According to NEMA, transport allowances were given to everyone of them to facilitate their journeys to their respective destinations and that the agency took the deportees out of the airport at about 2:15 to their various departure points.

  • Nigeria vs Burkina Faso: Kaduna State governor throw gates open

    Nigeria vs Burkina Faso: Kaduna State governor throw gates open

    •Ticket distribution starts 10 am
    •Security beefed up at Hotels, Stadium

    Kaduna State governor, Alhaji (DR) Mukhtar Ramalan Yero has thrown the gates open for today’s international friendly match between Super Eagles and Stallions of Burkina Faso at the Ahmadu Bello Stadium.

    State Football Association chairman, Abdul Kadiri Mogaji said the move was to mobilize fans to cheer Eagles to victory.

    Mogaji told SportingLife the government has purchased thousands of tickets which will be distributed at designated areas across the states from 10 am.

    Going by the plan as stated by Mogaji, residents living around Tundun Wada environs will collect their tickets at the Ahmadu Bello Round-about, those in Kawu, Gwarimi and Amalali will pick theirs at Kabala Costain while people around Sabon Gari will get their own at the Railway Round-about.

    He hinted that adequate security has been put in place for a hitch-free match which has equally been extended to the team’s hotels.

    Super Eagles are lodged at the African Continental Hotel, off Raba road while Burkina Faso are at Bafara Hotel, Yakubu Avenue.

    “I can also tell you that there will be a large presence of armed policemen, Nigeria Security and Civil Defence Corps and other Para military men. We have done our own part as FA. We are only hoping for a successful hosting Insha Allah.”

    Speaking in the same vein, the commissioner for Sports, Aminu Mohammed Sani said Eagles will be hosted to a Gala night after the match.

    “It has become our tradition to host the Super Eagles to a Gala Night anytime they play in Kaduna. We will do the same tonight,” Sani told SportingLife.

     

  • Second-hand clothes: Staple of nation’s capital

    Second-hand clothes: Staple of nation’s capital

    Life in the Federal Capital City (FCT) may not come cheap. Accommodation there poses a constant challenge, as do many consumables. But residents sure know how to survive. The used clothing market offers a lifeline.

    There they find shirts that fit, shoes that meet their tastes, even bras and underpants they can flaunt anywhere. And they also, most importantly, fit their pockets.

    Surely, the items were used and discarded elsewhere but in Nigeria and even its capital city, they are very popular.

    Karmo Market located on the outskirts of Life Camp in the federal capital may lack the trappings of a modern market but it is the centre of a thriving trade for second-hand clothes.

    Buyers are simply crazy over them. Most of them defy the bad state of the road to patronise the market which is on the rise.

    The market, which operates on Tuesdays and Fridays, has a unique quality that attracts buyers from every nook and cranny of the city. Wares are displayed based on the amount of space allocated to individual trader.

    For those who cannot afford the prices offered in boutiques and other stores around the city, Karmo Market provides an easy alternative, as it boasts materials ranging from shirts, trousers, footwear to boxers, underpants and brassieres, among others.

    Compared to Onitsha Market in Anambra State, Katangowa Market in Lagos, Karmo Market has become the toast of Abuja residents by virtue of its used clothes.

    One attractive feature of the market is that the prices of goods sold there are not just affordable to many residents of Abuja; they are also about the cheapest one can find in the city.

    For example, the prices for a pair of female pants, for adults and children, are between N100 and N120.

    Also, second-hand shirts are available for as low as between N100 and N 1,200, depending on the quality of the shirt. Some shoppers see these prices as fair when compared to what is obtainable in the boutiques.

    Shoppers of used clothes, however, seem to be making their purchases based on style, rather than sustainability or durability.

    Are used clothes for the poor alone?

    Mr. Okafor, a trader in used clothes, said: “It isn’t just the poor who shop here. Workers also come to the market looking for unique outfits. Some big girls and boys also come here to buy. Even boutique owners come here too.

    “Many relatively poor or absolutely poor people prefer second hand western clothing materials because they are often of better quality and have associations with the western cultural imperative. They also match what they see on TV,” Benjamin, a staff of one of the leading banks in the country said.

    Although there are claims by experts that used clothes come with diseases, some buyers differ on this assertion.

    Dismissing the claim, an undergraduate who identified himself as Endurance told our correspondent that “as long as they are properly washed, there is nothing to fear about used clothes. Besides, what assurances do people have that the so-called new clothes they buy from the shops or boutiques don’t come from these markets?

    “I know of a boutique owner who lines his shop with used clothes. The only difference is the prices.”

    Despite government’s ban on sale of second-hand clothes in the country, it is estimated that 80 per cent of Nigerians still patronise sellers of used clothes.

    The ban, ostensibly designed to protect local textile producers, is one of such imposed by the government to protect the country from being flooded with donated clothes from the western world.

    But the garments are moved into Nigeria illegally from neighbouring countries like Benin Republic and Togo.

    However, as long as consumers have these aspirations, and traders want to turn a profit, it seems unlikely that sale of used clothes in Nigeria will stop anytime soon, regardless of government’s policy.

  • ‘Nigeria must exist beyond 2014’

    A former Minister of National Planning, Chief Ayo Ogunlade has urged Nigeria’s leaders to ensure “the nation’s continuity as a single entity”.

    Ogunlade was reacting to next January’s purported expiration of the “100-year experimentation of the 1914 amalgamation of Nigeria’s Northern Protectorate, Southern Protectorate and the Colony of Lagos by the British government.”

    The octogenarian, who was an information minister during the 1976-1979 military regime, spoke at his Ilupeju-Ekiti country home at the weekend.

    He said although a “secret document”showed that the “amalgamation” was an “experiment” by the imperialists, Nigerians must allow the entity to continue, despite its current challenges.

    Ogunlade said: “Nigerians need not fear disintegration because the so-called experiment has worked, despite our ups and downs, including a three-year fratricidal civil war. There are far more compelling reasons Nigeria must remain a sovereign nation.”

    He opposed the Federal Government’s “plan” to commit billions of naira into the centenary celebrations, saying the money should be committed to lasting legacies.

    Ogunlade said: “No Nigerian will not glow with pride when he hears people say one of every four black persons in Africa is a Nigerian. These and many other statistics were probably the reasons for planning a centenary celebration. I have nothing against the celebration. Staying together as a nation for a 100 years is worth celebrating.

  • ‘New PDP’ does not exist , says presidential aide

    The Special Adviser to the President on Political Affairs, Ahmed Gulak has said  that there is only one Peoples Democratic Party (PDP) in existence in the country under the Chairmanship of Bamanga Tukur.
    Some members of the Nigeria Police Force on Saturday sealed off the ‘New PDP’ Secretariat in Maitama, Abuja, while Armoured Personnel Carrier (APC) and armed policemen have remained on standby at the Secretariat to ward off any intruder.
    The new group, under the Chairmanship of the Abubakar Baraje, broke off from the main PDP during the 2013 Special Convention of the party last month in Abuja.
    Speaking with The Nation on telephone o on the sealing of the ‘New PDP’ Secretariat, Gulak insisted that the only PDP Secretariat is at Wadata Plaza, Wuse Zone 5, Abuja.
    On the questions that the Police’s action is anti democratic principles and will work against on-going peace process, he said: “There is no new PDP. There is only one PDP and that is all I know. And the Secretariat is at Wadata Plaza and the Chairman is Bamanga Tukur.”
    Justice Elvis Chukwu of the Federal High Court, Abuja, had on Friday ordered the two parties to maintain the status quo as he fixed September 12 for the hearing of the motion on notice.
    To resolve the crisis, elders of the party including ex-President Olusegun Obasanjo, ex-military ruler, General Ibrahim Babangida, the Chairman of the PDP Board of Trustees (BoT), Chief Tony Anenih and two former national chairmen of the party-Chief Barnabas Gemade and Dr.Ahmadu Ali met with the two factions in Abuja on Friday.
  • Chrisantus: I love looking simple and stylish

    Chrisantus: I love looking simple and stylish

    Style, they say, is the man.

    In fact, Lexa Doig, Canadian TV and movie actress weighed in on the question of style and men, saying:”Men with style are great because they have a sense of self.”

    She may probably have had the likes of Nigerian Unión Deportiva Las Palmas’ striker, Macauley Chrisantus, in mind after he spoke glowingly about his penchant for simple and stylish clothes.

    Chrisantus has really come of age after representing Nigeria at the 2007 FIFA U-17 World Cup in Korea where he emerged as the tournament’s top scorer with seven goals and was awarded the adidas Silver Ball as the second Most Valuable Player.

    He immediately joined German club, Hamburg, in 2007 from Abuja FC. In 2009, he was loaned to Karlsruhe SC where he later spent three seasons before berthing at Spanish Segunda side based in Las Palmas de Gran Canaria – in the autonomous community of Canary Islands.

    But when it comes to what-to-wear and how-to-wear matter, Chrisantus is indeed his own man as he hinted in this frank conversation with The Nation Sport & Style.

    “I have a sense of dressing that is typical of the Europeans; simple and stylish,” he said. “I love simple dressing and appearing cute and responsible.

    “I am not used to flashy things because appearing flashy does not mean you are a man of style.

    I just love looking good as simple as possible and every other thing is immaterial.”

    Being a man of style of course could warrant an undue attention from the opposite sex, but Chrisantus stated that he knows how to keep things in proper shape, adding that being single is not a liberty to be loose

    “Yes, I agree with you that ladies like a guy that dresses well but I don’t get carried away with that,” he said with a sense of finality. “I treat everybody equally, whether you are a man or a woman is not necessary.

    “When you come to a country like Spain thinking it is their female fans that would thrill you to play, that means you are not ready.  I’m taking a cue from star players like David Beckham who is one of the handsome footballers.

    “Yet, he is not carried away despite the fact that he is considered one of the most stylish men all over the world. So why should I be carried away because ladies appreciate what I wear?’’

    Chrisantus’ career may not have blossomed as widely expected soon after his goals led Nigeria to her third FIFA Under-17 World Cup crown six years ago, but he is upbeat that there is light around the tunnel as he speaks on sundry issues. Excerpts…

    German adventure after U-17 World Cup

    I have never regretted any decisions I have made in my life. Instead, I will give God the glory for always being there in the time of trouble. A footballer’s career is up and down, the up maybe much more than the down side but the ultimate thing is to keep the faith and be focussed about my dream and aspirations. And that has really worked well for me. I was actually in good form when I moved to Hamburg but things changed when I got there. Yes, I have conquered so many problems and I’m now mature in handling the challenges of life

    My injury setback

    There is no way you could run from injury except you are not ready to play the game. It can happen anytime; it can be tougher than expected but the secret to conquer is to remain confident about your dreams and always think about it. I had some many dreams when I moved to Germany but I couldn’t realise much because it was a challenging phase for me. But thank God, I was able to conquer before I left. I can say injury slowed me down, but in other ways it has made me stronger because I am still much very ready to hit my world.

    Sunshine in Spain

    Like in Germany, Spain is another lovely country to live. I enjoyed virtually everything in Germany when it comes to football facilities and life off the pitch. It’s also great here in Spain. I don’t go beyond my boundary. In my club, everybody loves to see me, we relate as if I have been there for years and that is the way football should be. So life is good for me in Spain and I hope to keep making wave.

    Between Germany and Spain

    I think German life is easier than Spanish but they are both lovely places to play irrespective of anything. In Germany, you get everything easier and the language is easy to communicate but as a newcomer here in Spain, I’m still in the learning process.

    Twelve goals in first season

    I think I settled well by scoring such amount of goals in my first season. Going by my form that time, I had every reason to score close to at least 20 goals; but I think I missed some games due to rotational policy at the club, but generally it was a perfect season for me. Apart from my personal ability, I think much had to do with my team mates who made the passes for me to score. You can now see why I said it’s been lovely for me here.

    La Liga play-off agony

    I will describe that scenario as ill-luck. We played a good game and dominated the game but at the end our opponents were very fortunate. And that was the most interesting part of football. People say the best team won in such cases. It was a painful one for the entire team but personally I still see it as another challenge, maybe we need to work harder next time. But it was a big lesson, despite that I scored in the last play off, I felt like crying. But what can I do than to look up to the next opportunity.

    Goals still counting…

    I don’t want to set a goal target for myself but I want to keep scoring. I started the season with a goal and I intend to build more in my confidence to score as many as possible this season.

    La Liga, my big dream

    I can play anywhere in the top leagues. I have live in Germany and I succeeded with their life, so I can live comfortable anywhere I find myself. I may not know where I will be playing next but God has done everything perfectly. You can’t go beyond what your creator has done for you. Everything is still about destiny, but prayer works than power. I wish to play in La Liga either with Palmas or any other big team. I have what it takes to play there; I am looking forward to such big dream soon. There are offers in La Liga and other leagues. The God that I’m serving is at work. There are offers in La Liga but how concrete are they? I will not speak more than that but my future is with God and which would be sorted out before next summer.

    Super Eagles beckon

    I don’t need to blow my trumpet before the coach knows that I am ripe enough for a shirt in the Super Eagles. The coach doesn’t need to invite me by my past performance or media hype, I will request for my own invitation to the coach and NFF with my performance. That is the only way I want to be in the Super Eagles. I have been tipped for greatness by the people of my country and I still owe a big debt to live up to their expectations. I am getting closer to the national team but only God knows the time.

     

    The hype of being Rashid Yekini

    As I said before, I don’t need hype; I want my game to speak for me. To the blessed memory of the great Rashid Yekini, I have said it times without number that the new Rashid will be a player that has a career in the Super Eagles. You can’t start comparing me with Rashid who played for the Super Eagles. And the truth of the matter is that Rashid was Rashid; the new one is not yet discovered or born. So, I am not.

     

    Life off the pitch

     

    I always like to stay with my friends if I don’t go to training or matches. And I still spend some time on my fitness. I spent lots of time in the gym to build more on my fitness and look trim when need be. I always examine my fitness rate almost every day. Apart from that, I listen to music and also read my Bible a lot.

     

     

    PROFILE

    Macauley Chrisantus

    Full name            Macauley Chrisantus

    Date of birth      20 August 1990 (age 23)

    Place of birth     Abuja, Nigeria

    Height   1.83 m (6 ft 0 in)

    Playing position  Striker

    Current club       Las Palmas

    Youth career

    2007 to Hearts of Abuja

    2007–2008           Hamburger SV

    Senior career*

    Years     Team     Apps†

    2008       Hamburger SV II

    2008–2012           Hamburger SV

    2011–2012: FSV Frankfurt

    2012–    Las Palmas

    National team‡

    2007       Nigeria U17

  • Malala and Ojonwa: Girls demanding education

    Malala and Ojonwa: Girls demanding education

    Ahead of the visit to Nigeria by Gordon Brown, former British Prime Minister and the UN Special Envoy for Education, the Malala Movement of Girl Education campaign  continues to spread with the signing of the petition demanding for education for all children.

    Last Thursday Gordon Brown, former British Prime Minister and the UN Special Envoy for Education brought two young women together in an online video exchange – Ojonwa Deborah Miachi has a BSc in Economics from Bingham University in Karu, and is Nigeria’s  National Youth Advocate for universal education and the Millennium Development Goals – and  MalalaYousafzai the sixteen-year-old Pakistani girl shot by the Taliban and who has also had to leave her country to be safe.

    Both are demanding what 57 million girls and boys like them cannot have – the right to go to school even in times of conflict and, as a result, both see themselves at the centre of a 21st-century civil rights struggle.

    This freedom fight – as Malala and Ojonwa show – is now being led not by familiar adult voices but by young people themselves.  For Ojonwa and Malalaare part of a worldwide movement of girls demanding education.

    From the Common Forum for KalmalHari Freedom in Nepal, to the Child Marriage Free Zones across Bangladesh, and including the Ugandan Child Protection Clubs, the Upper ManyaKrobo Rights of the Child Club, Indonesia’s Grobogan Child Empowerment Group, India’s Bachao Bachpan Andolan and the Global March Against Child Labour.

    As Malala says: “innocent girls only want to empower themselves through education. Obtaining education is every man and woman’s birth right and no one is allowed to take away this right from them.”

    Ojonwa and Malala’s missions- to get girls to school – are the inspiration behind Monday’s  Abuja  summit led by President Goodluck Jonathan and Nigeria’s state governors. This landmark event, which will be attended by Gordon Brown and addressed as UN Special Envoy for Global Education, will bring together cabinet ministers, state governors and state education commissioners together with global development partners to get Nigeria’s ten million out-of-school children into education.

    On Monday they will discuss how we can allocate new financial support for school building, teacher recruitment, teacher training and for new technology with tablets, phones and online school courses; this is part of a global initiative to get every boy and girl to school by the end of 2015.  The movement will build a world where for the first time no boy or girl is denied their right to education.

    Leaders will assemble from  USAID, Qatar’s  Educate a Child, led brilliantly by SheikhaMoza, from the Global Partnership for Education whose head is Alice Albright, and  from the global business community led by the Global Business Coalition for Education.  Each will pledge additional support. The UK is also ready to boosting its help this year with a visit from the Permanent head of DFID coming soon.   All want to applaud the President’s initiative and give practical support to the Nigerian government and states in their renewed drive to expand education opportunity for all children.

    Ojonwa, who spoke to Malala on the video link about her fight for education for girls in Nigeria, emphasises the scale of the uphill struggle the country has to face. This is to move from the country with the world’s largest population of out-of-school children in the world to universal education. 10 million children are yet to go to school because there is a teacher shortage of nearly 1.3 million, and we are missing 1.2 million classrooms.  Child labour, child marriage and child trafficking prevent thousands getting to school.

    And for those that do find ways to get their children into school, there is doubt as to the effectiveness of the courses.  Approximately 52 percent of young women who complete primary education remain illiterate. Indeed the large amount of illiteracy is now an economic problem as well as a social disaster, with the number of adults who cannot read or write up to 35 million.  Illiteracy is standing between Nigeria and its deserved success as an economic powerhouse of the world.

    But in the midst of the education crisis, President Jonathan is prepared to take unprecedented action.  He realises that getting every child into school and learning is feasible and achievable, and the key to Nigerian prosperity. Learning from what works best, financial incentives must be fine-tuned to help state governments deliver; teacher training and professional development must be effectively taken to scale by leveraging technology.

    The curriculum of all schools must be strengthened to develop literacy and numeracy skills and families must be supported in their demand for education through conditional cash transfers.  These transfers – now being pioneered in some states – can be taken up in all states and encourage enrollment and attendance particularly of girls.

    The delegation of business, educational and political leaders is working to present financing options and concrete proposals to support the implementation of state plans for education.  We will look at what more can be done to incentivize the education, and leveraging up resources, including the use of the Universal Basic Education Fund to provide central ministry incentives alongside investments from UK, US, Educate a Child, the Global Partnership for Education, and specific offers from the business community through the Global Business Coalition for Education.

    Nigeria itself is calling for the education it needs for the future.  Despite the violence and attacks on education from extremist groups, in addition to the peaceful civil society movements that have occurred over the past few months, Nigerians are signing the petition to support President Jonathan’s commitment to education, and are calling for safe schools for all of Nigeria’s children and for state level implementation of plans for universal education.

    But the greatest hope for the future is the demand of young people yearning for their right to be educated. Nigeria will succeed not just because of the commitment of the Federal government, the organisation of the state governors, and the support of the international community, but because Nigeria’s young like Ojonwa will not take ‘No’ to her education for an answer. The surest sign we will succeed is that boys and girls are demanding it.  You can sign the petition on www.aworldatschool.org/petitionnigeria

     

  • WCQ: Nigeria 2 Malawi 0

    WCQ: Nigeria 2 Malawi 0

    Super Eagles of Nigeria, Saturday, defeated their Malawian counterparts in the second leg 2014 World Cup Qualifier match in Calabar.

    The Nigerian side were two goals better than the Malawians. The first goal came from the boot of Fernabache’s forward, Emmanuel Emenike in the last minute of the first half.

    Victor Moses consolidated the lead for the Eagles in the early part of the second half from the penalty spot after Oduamadi was brought down in the 18 yard.

    Malawi played with a man down after the penalty was converted by Moses as Eagles missed so many scoring chances.

    Ahmed Musa had a couple of clear cut chances but failed to bury them.

    Nigeria are now through to the next round, leading the group with five points ahead of  the second placed Malawi.

  • Nigeria, Malaysia, others plan N468b non-interest bonds

    Aconsortium of central banks of emerging economies from Africa, Middle East and Asia under the auspices of International Islamic Liquidity Management Corporation (IILM) is set to issue Sukuk bonds of about $3 billion to develop cross-border market for alternative finance instruments.

    The IILM is owned by central banks and monetary agencies including Central Bank of Nigeria (CBN), Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Qatar, Turkey, United Arab Emirates and Saudi-based Islamic Development Bank.

    The $3billion issuance programme came on the heels of the successful launch of the corporation’s maiden issue last week. IILM issued a $490 million dollar-denominated Sukuk to The Sukuk was auctioned to seven leading financial institutions including Kuwait Finance House, Europe’s KBL Private Bankers, Malayan Banking Bhd (Maybank), National Bank of Abu Dhabi, Qatar National Bank, Standard Chartered Bank and AlBaraka Turk. The Sukuk was priced at 30 basis points over the London Interbank Offered Rate (LIBOR).

    The success of the $490 million Sukuk, which had received a high A-1 credit rating from Standard & Poor’s, underpinned the $3 billion issuance programme.

    Established in 2010, IILM is an international financial institution charged with creation and issuance of short-term Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

    By creating more liquid Shari’ah-compliant financial markets for institutions offering Islamic financial services (IIFS), IILM aims to enhance cross-border investment flows, international linkages and financial stability.

    Nigeria is working to develop a domestic alternative finance market. It has issued regulatory rules for Sukuk and other Shariah-compliant products. Sukuk is an alternative finance instrument premised on Islamic asset finance principles. Unlike interest-paying conventional bond issue, Sukuk makes returns to the investors through sharing of profit or cash flow from the underlying asset with them in addition to redemption of the principal upon maturity.

    The Nation recently reported exclusively that Nigeria’s first Sukuk bond issue has secured regulatory nod and is ready for the market.

    Managing Director, Chapel Hill Denham, Mr Bolaji Balogun, a major party to the Sukuk, confirmed the regulatory approvals and preparedness of the parties to launch the first-ever Islamic bond issue in the Nigerian market.

    He said the Sukuk, being issued by the Osun State Government, will seek to raise N10 billion in its debut issue with further issuances building on the market response.

    Director, Securities and Investment Services, Securities and Exchange Commission (SEC), Ms Mary Uduk, also confirmed the Osun State Sukuk as Nigeria’s first Sukuk noting that the apex capital market regulator had worked in earnest to provide regulatory framework that makes the emergence of the Sukuk possible.

    SEC’s Rules on Sukuk Issuance in Nigeria underline that Sukuk shall be structured as Sukuk Ijarah – leased contract; Sukuk Musharakah– sharing contract; Sukuk Istisnah– exchange contract; Sukuk Murabahah– financing contract; and any other form of contract that may be approved by the Commission.

    According to the rules, eligible issuers of Sukuk include public companies including Special Purpose Vehicles (SPVs), State Governments, Local Governments, and Government Agencies as well as multilateral agencies.

    The rules stipulate that any issue, offer or invitation of Sukuk by a public company which is capable of being converted or exchanged into equity with the intention of being listed shall be subjected to the additional requirements stipulated in the listing requirements of a securities exchange.

    The global market for Sukuk issuances has continued to grow with more than $26.6 billion issued during the second quarter of this year to bring total issuance for the first half ended June 30, this year to $61.2 billion.

    The Global Sukuk Report by the Malaysia International Islamic Financial Centre (MIFC) indicated the primary Sukuk market in 2013 has shown great resilience, recording month-on-month growth since January 2013, except in June, which saw a noticeable slow down.

    According to the report, the Malaysian market recorded $18.4 billion worth of Sukuk papers in second quarter of 2013 while Saudi Arabia and United Arab Emirates (UAE) witnessed $4.5 billion and $1.4 billion respectively.

    “Aside from government issued Sukuk, the primary Sukuk market witnessed a number of issuances in the power and utilities, industrial manufacturing and financial services sectors in second quarter 2013, totalling $2.1 billion, $2.0 billion and $1.8 billion respectively. Government issuances, which made up 65.6 per cent of the market in first half 2013, were up 10.8 per cent year-on-year while power and utilities Sukuk, accounting for 13.6 per cent of the market, were up 90.5 per cent over the period,” the report noted.

    Global outstanding Sukuk reached $245.3 billion by the end of first half of this year, rising by seven per cent from $229.3 billion recorded by the end of last year. This year’s first half performance represented an increase of 16.4 per cent on comparable period of 2012.

    Malaysia has the largest secondary Sukuk market with $148.2 billion, about 60.4 per cent of the global market size as at end of first half. IILM is based in Malaysia.

     

     

  • ‘How to achieve peace in Nigeria’

    To achieve peace in Nigeria,the government must combat the fundamental issues that fuel insecurity, such as corruption and poverty, a former Chief of Defence Staff, General Martin Agwai, has said.

    He was the guest speaker at an event organised by the Military Law Forum of the Nigerian Bar Association (NBA) at its Annual General Conference in Calabar.

    He warned that use of force alone without dealing with the security of the individual against want could lead to more strife.

    The greater risk, he said, is that the armed forces, in a bid to suppress internal acts of terror, could be stretched beyond their capacity to protect the nation against external aggression.

    There is also need for synergy among the security agencies, as well as increasing their capacity to function, he said.

    Other speakers included Chairman Senate Committee on Defence, Senator George Sekibo, who chaired the event; the forum’s chairman, Air Commodore Ibrahim Shafii, and an Assistant Inspector-General of Police, Suleiman Abba, who represented the Inspector of Police.

    Among lawyers who spoke were Chief Solomom Awomolo, who represented NBA President Okay Wali (SAN); Director-General, Nigerian Institute of Advanced Legal Studies (NIALS) Prof Epiphany Azinge (SAN); Chairman of Council, National Human Rights Commission, Prof Chidi Odinkalu, activist-lawyer Mr Femi Falana (SAN), and former Kaduna State Secretary to the State Government, Dr Hakeem Baba Ahmed, among others.

    Agwai, who as the guest speaker, said the deployment of soldiers in the northern states following a declaration of a state of emergency could have repercussion if the mission fails.

    “We have already sent our first eleven and if our first eleven is defeated, I don’t know what will happen,” he said.

    To him, the fundamental issues that fuel insecurity must be tackled, even as he called for better synergy among the armed forces

    “Touch and go will not solve our security problems. The underlying issues must be addressed.

    “The only way we can have lasting peace is like a fish in the water. You must remove the fish in the water, or else as long as there is water, the fish will survive.

    “If you want to kill a tree, you must go to the root. If you cut the branches, the tree will get up and even be much bigger than it was before. Go to the root causes. Address all the root causes of our challenges.

    “We need a dialogue. It’s not fault-finding, saying you are right and I am wrong. It’s to examine what the grievances are. Security is not only physical. It your security, my security, the villager’s security.”

    Aqwai also blamed insecurity on poor intelligence management, saying: “If the security agencies get their intelligence and information right, then you have done part of the work.”

    He said development without security is not possible, but human security is even more important, “else the balloon will burst.”

    Falana said soldier gets involved in internal security matters because for 30 years, military regimes progressively weakened the ability of the police to provide effective security.

    Poor funding, he said, remains a problem, as out of N93billion voted for the police in the budget, a whopping N89billion will go for recurrent expenditure.

    “No police station is allocated any money. They depend on bribes. You pay for charge sheets, and despite claims that bail is free, you pay for bail. That is how they fund the stations.

    “All the tables and televisions you see in the stations are exhibits. With all of this, the military will continue to be involved in internal security.

    “It is not the business of the military to handle internal security. It’s the primary responsibility of the police.

    “For the police to do that, we must empower them, we must equip the police, we must train the police and give the police all the necessary tools and conditions to perform that role.

    “The armed forces are meant by the Constitution to play a secondary role, and that’s why it used the phrase: ‘In aid of civil authorities.’ But that has been subverted, and that’s why we’re in this mess.

    “Today, the armed forces are in 28 states and Abuja. The military is now involved in election monitoring. It should not be tolerated.”

    Falana said even men of the armed forces are not spared the effects of bad leadership, adding that “the military is being dehumanised by the authorities.”

    According to him, when a Nigerian soldier is killed while on foreign operation, their bodies “are brought in at night and buried” rather than celebrating them as the United States does when its soldiers are killed.

    “When soldiers are killed on duty, contact and compensate their families and give them heroes’ burial,” he said.

    Azinge said the military should be trained on how to handle internal security without usurping the duties of the police.

    “The military should realise that when they are handling security situations within their territory, they should not treat them as they would treat external aggressors.

    “Why do they do well in peace-keeping operations but not do so well in internal security? This is what the military must interrogate,” he said.

    Odinkalu said there is a sense of competition among the security services, which does not help the country’s safety.

    “No agency is more patriotic than the other. They are serving the country,” Odinkalu said.