Capital market recorded N631bn loss in August

Following an impressive showing in the first half of the year, the performance of equities in the capital market lately has been less cheerful, UDEME EKWERE writes

The equities market of the Nigerian Stock Exchange was on a steady decline in the month of August, culminating in the loss of N631bn within the period.

The steady descent in the market, which began towards the end of July, spilled into August, with the market capitalisation of the listed equities falling to N11.496tn on Friday, the last trading day in the month.

This represents a loss of 5.2 per cent or N631tn compared to the N12.127tn recorded at the beginning of the month.

The market capitalisation represents the aggregate value of all the companies or stocks quoted on the Exchange. It is obtained by multiplying the aggregate number of shares outstanding by the current price of each stock.

Similarly, the NSE All-Share Index fell by 5.3 per cent or 2,043.54 basis points to 36,248.53 points on Friday, down from 38,292.07 points recorded on August 1, 2013.

Experts, who spoke to our correspondent on Sunday, said the decline was largely as a result of external factors relating to monetary tightening measures.

Activities in the market had reached a peak in June, surpassing the pre-2008 meltdown levels with the All-Share Index hitting the 40,000 basis points level, while the market capitalisation was close to N13tn.

However, following profit-taking by investors after the release of impressive results by major companies, the market volume began a steep descent, shedding over N631bn in August alone.

The NSE-30 Index, which measures the performance of the top 30 companies on the Exchange, also recorded a significant decline in the period under review, as it fell by 6.07 per cent or 109.22 basis points from 1,798.65 points at the beginning of the month to 1,689.43 points on Friday.

An investigation by our correspondent showed that the Banking-10 Index also recorded a significant loss in the period under review, as it fell by 5.5 per cent or 22.39 basis points on Friday to close at 389.27 points, down from 411.66 points at the beginning of the month.

The Chief Executive Officer, Lambeth Trust and Investment Limited, Mr. David Adonri, said in an interview with our correspondent on Sunday that the loss recorded in August was as a result of tightening measures adopted by the regulators.

He stated that if not for the activities of the market makers, the losses might probably have been higher than what was recorded in the period.

He said, “The equities market lost significant value in August. It was driven down by external factors relating to global and domestic monetary tightening measures.

“The market makers did a lot during the month to stabilise the market, otherwise, the situation could have been worse than we witnessed.”

Adonri, however, explained that with the release of the third quarter results, activities might pick up in the market.

He said it was usual for investors to show increased interest in the market in the period just after results had been released, adding that there might be increased activities after the release of th third quarter results.

Adonri said, “The equities market may pick up briefly in October when the third quarter results start hitting the market. The outlook for the remaining period of the year is not very bright as the market traditionally slows down.

“Buying opportunities are now emerging as prices fall. Year-to-date, the equities market has performed better than last year.”

He advised the regulators not to rest on their oars, adding, “The regulators should continue their surveillance over the market with undiminished intensity.”

In their submission, analysts from Vetiva Capital Management Limited said the reduction in the equities market was largely as a result of huge sell-offs in the financial services sub-sector.

They said, “In cautious trades, the NSE was pulled downwards by the continuous selling pressure in the financial services sector. Large capitalisation stocks such as Guaranty Trust Bank Plc and FBN Holdings Plc have retreated from year-to-date high prices of N29.99 and N21.50 to N24.53 and N16.00, respectively.

“Although equities in the consumer goods sector mustered some gains on Thursday, by Friday, the sector reversed, pushing the NSE index by two per cent this week, weakening the year-to-date return to 29.10 per cent.”

For the week ahead, the analysts predicted that activities might continue on an unstable note as a result of increased selling by investors.

“We expect the Nigerian equity market sentiment to, most likely, remain weak this month and we expect a see-saw movement with thin volumes,” they predicted.

Bale joins Madrid in €100m record deal •Moses visits Anfield

Real Madrid have broken the world transfer record to sign Tottenham forward Gareth Bale.

The Wales star has agreed a £300,000 per week, six-year deal after sealing an £85.3m (€100m) move which eclipses the £80m Real paid Manchester United for Cristiano Ronaldo in 2009.

“I have had six very happy years at Tottenham but it’s the right time to say goodbye,” the 24-year-old Bale told BBC.

“We’ve had some special times together and I’ve loved every minute of it.”

The international deal was made just after Chelsea attacker Victor Moses was a guest at Anfield to watch Liverpool beat Manchester United 1-0. The Nigerian was spotted as he made a preparatory visit ahead of his loan move to Anfield.

Bale will have a medical and then be presented to the Real Madrid fans at the Bernabeu on Monday before speaking at a media conference.

He added, “I am not sure there is ever a good time to leave a club where I felt settled and was playing the best football of my career to date.

“I know many players talk of their desire to join the club of their boyhood dreams, but I can honestly say, this is my dream come true.

“Tottenham will always be in my heart and I’m sure this season will be a successful one for them.

“I am now looking forward to the next exciting chapter in my life, playing football for Real Madrid.”

Bale joined Spurs as a left-back for £10m from Southampton in 2007 and scored 26 goals last season as he was named both the Professional Footballers’ Association’s and Football Writers’ player of the year.

His representatives told Spurs at the end of July that he wanted to speak to the Spanish giants.

Real Madrid coach Carlo Ancelotti’s claim at the start of August that they were “in talks to find a solution” to the transfer angered Tottenham manager Andre Villas-Boas, but the clubs have now reached a settlement.

After his side’s 1-0 loss to Arsenal, Villas-Boas said, “Bale is a wonderful player. He is going to join Real Madrid so we wish him all the best.

“He left us with some great memories from last season.”

Bale, who becomes Real Madrid’s fifth signing of the summer, paid tribute to both Southampton and Tottenham for developing his career.

He said, “I am well aware I would not be at the level I am today were it not for firstly Southampton and then Spurs standing by me during some of the tougher times and affording me the environment and support they have.

“I would like to thank everyone at the club; the chairman, board, staff, coaches and players, and, most of all, the fantastic fans who I hope will understand this amazing career opportunity.”

Spurs have been busy in this transfer window, signing seven players for a total outlay approaching £105m.

Tottenham chairman Daniel Levy admitted he did not expect to have to plan for the season without Bale.

NMA offers to help probe Suntai’s health status

Taraba State Governor, Mr. Danbaba Suntai

The Nigerian Medical Association  has offered to set up a medical board to  ascertain the fitness or otherwise of  Governor  Danbaba Suntai of Taraba State.

The NMA, which  might  on Monday (today) give  the Federal Government a 21-day ultimatum to address the  challenges  in the health sector, explained that the outcome of the board’s finding(s) would put to rest, the controversy over Suntai’s state of health.

Suntai, a pharmacist, returned to the country on August 25, after a 10-month medical sojourn in Germany and the United States. The governor, who looked frail  and was aided to alight from a chartered aircraft that flew him into the country, was neither able to speak with journalists nor the people of the state.

Following  speculations that he had not recovered fully, he eventually  made a broadcast to the people of the state via a recorded  videotape  aired by the Taraba State television. A day after this,  principal officers and some members of the state House of Assembly, who visited him , advised him to return to the US for further treatment.

But the NMA, in a statement by  its President, Dr. Osahon Enabulele and Secretary-General, Dr Akpufuoma Pemu, said it was “deeply concerned with the anxiety and imbroglio occasioned by the fitness or otherwise of  Governor  Suntai.”

The statement  was issued at the end of its National Executive Council meeting in Sokoto and obtained by The  PUNCH on Sunday in Abuja. The  theme of the NEC meeting  was “Promoting Medical Check-ups as key to preventing sudden deaths.”

 The NMA  however  welcomed the governor back home and advised “the parties involved in the quagmire to sheath their swords and abide by the provisions of the 1999 Constitution.”

“NMA is very prepared to make available her expert members who are professionals in various fields of medicine to constitute a medical board to resolve the lingering question of the medical fitness of the governor’’ it added.

The association  renewed its call on the Federal Government and National Assembly to establish the Office of the Surgeon-General of the Federation which  would be charged with the responsibility of independently assessing the medical fitness of public and political office holders.

 It said this  would  “save the nation the great embarrassment caused by the question of the medical fitness or otherwise of our public and political leaders.”

The NMA NEC also resolved to issue a 21-day ultimatum with effect from Monday (today) to the Federal Government  to tackle the myriad of challenges and anomalies in the nation’s  health  sector.

Among the contentious issues, according to NMA, is “the ongoing destruction of the fabric of professionalism and hierarchical order in Nigeria’s public hospitals and the health sector.”

The NMA said it was committed to the enthronement of professionalism and international best practices.

The NEC  called on all Nigerians, including public and political office holders, to regularly consult their licensed medical doctors/dentists for health checks.

It  also restated its earlier call on the government to declare a public holiday for health check-ups in  the country , laced with some incentives.

The NMA flayed the  delay in the inauguration of the Governing Board of the Medical and Dental Council of Nigeria, despite several  appeals by other stakeholders.

The association said, “The NMA remains greatly handicapped by the fact that there is currently no judge/Council Chairman to preside over investigated cases brought before it. The Medical and Dental Practitioners’ Act provides that only the chairman of council shall preside over the tribunal (which has the status of a high court).

“Over the last 10 years, the governing board of the MDCN has cumulatively not been in place for more than four years. The last council was dissolved in 2010 with no replacement since then. All calls made to government to inaugurate the council have so far not yielded any result.

“The implication of this is that the Medical and Dental Practitioners’ Tribunal is non-existent in the country today; a situation akin to a country without Police Criminal Investigation  Department  and justice system. How well Nigerian medical practice is regulated today, including the fight against quackery and other unwholesome practices, are better imagined than experienced.”

The NMA therefore restated its call on President Goodluck  Jonathan not to delay any further  in  directing  the inauguration of  the MDCN to enable it perform its statutory   functions.

Mandela discharged from hospital

Mandela, Photo-journalists outside Mandela’s home in Johannesburg and an ambulance that carried him home.

Former South African president Nelson Mandela has been discharged from hospital in Pretoria where he has been treated for nearly three months, Skynews reports.

“Madiba’s condition remains critical and is at times unstable,” the Presidency said, referring to the 95-year-old by his clan name.

Mandela was admitted on June 8 with a recurring lung infection and had previously been in a critical but stable condition, according to the office of President Jacob Zuma.

The government statement added: “His home has been reconfigured to allow him to receive intensive care there.

“The health care personnel providing care at his home are the very same who provided care to him in hospital.

“If there are health conditions that warrant another admission to hospital in future, this will be done.”

Zuma’s office said the elderly statesman has been treated by “a large medical team from the military, academia, private sector and other public health spheres”.

Sky’s Alex Crawford said: “He’s a few days short of being in intensive care in that hospital in Pretoria for three months… I think many of his close family and friends wanted him home if it was at all possible.”

The presidency requested that Mandela and his family be given “the necessary private space so that his continuing care can proceed with dignity and without unnecessary intrusion”.

The confirmation of Mandela’s release to his home in Johannesburg’s Houghton suburb follows reports that he had been discharged on Saturday.

Mandela spent nearly three decades in prison before being released and being elected South Africa’s first black president in multi-racial elections in 1994 that ended apartheid rule.

Omotola the trailblazer - written by actress Omoni Oboli

An article written by Nollywood actress Omoni Oboli and published in today's Daily Independent. Read below...

I am Omoni Oboli and I represent Naija!

Our country is littered with success stories that have shaped us into who we are. We have icons that have, through their consistency, paved the way for many of us to walk right through. Many have done it unwittingly by just focusing on achieving their personal goals and in their resolve to break through the stereotypes, disenfranchisements and stigmas they have shown the  rest of us the endless possibilities in their chosen fields. Others have done it with a plan to leave a trail for others to follow.

I will continue to celebrate these icons that I consider to be the true role models for our youth to emulate in our nation. One such icon is our very own Omotola Jalade-Ekeinde. The original Omosexy who has been tagged the African Magic.

Omotola waltzed into the movie industry before it was nicknamed Nollywood and took her place at the top of the industry as a leading lady like she actually owned the place. She fits into it easily like one who knew that she was born to do this. Her consistency at the top is evidence of her prowess at delivering every role consistently from when she stole our hearts in the movie Mortal Inheritance.
The ever-growing fans of Nollywood have been held spellbound by her believability in all her varied roles. At such a young age when many didn’t know their left from right she understood the responsibility that came with being the leading lady. We saw her cry, laugh, rejoice, explore and display other emotions and adventures that Nollywood has been consistently propelling us actors through in the last 21 years of its existence so that we have come to believe that we know her personally.

With her own style and wits, Omotola has somehow shown us her life and yet kept the personal bit intact, even though she got into marriage at an age many consider to be too young. She has stayed in the marriage when many casualties of failed marriages litter our nation and our industry. She simply defied the odds! Even though pilots are reputed to be philanderers, she has been successfully married to one for many years. Actors have a global reputation of divorces, citing the flimsiest excuses for their actions, but she has been steadfast in her marriage.
  
Don’t get me wrong, I’m not putting down actors for their divorces because many other industries surpass them in divorce rates. I’m just showing that these are perceived notions the world over. Many of them, especially the actresses, have had to endure strenuous relationships due to their celebrity status in the hands of their spouses,. Through it all, our Omosexy remains a pillar of virtue as an example to many that it is possible to stay focused, achieve success in any field of endeavour and still maintain a good family.

She continues to break grounds globally, being celebrated for what we already knew she is, one of the most influential figures of our time! This is due to the impact of our film industry, Nollywood. This industry that many do not yet see its direct and indirect impact on our society, but has broken grounds the world over. This Nollywood that gave the opportunity to many of us to find our voice globally. Where we would have been big fishes in our small pond, we find that the world hangs on our every word and action. This is such a huge responsibility for us to bear, and Omotola has held her place there such that she has been commended for it consistently.

I don’t need to talk about all the awards she has acquired over the years, and I don’t know if she can count how many awards she has received till date, but we know that she has not failed to deliver on most of her performances. The Bible says that a man’s gifts makes room for him and brings him before great men, kings or captains of industries, and it certainly has in her case. She has been honoured for her performance on screen and for her activities off screen. She has lent her voice to many worthwhile causes and championed many of her own.

She is the mother of four children and has managed to stay in shape, not only for the screen, but for her husband. She is truly an icon in the movie industry and in Nigeria as a whole. She has 

shown that with hard work, consistency, diligence, focus and a desire to achieve, there is nothing that can stop your rise to the top of your game.

I try to celebrate the icons in our nation that are worthy of emulating so that our youth and our people can begin to heal from the damage of inconsistent, morally decadent and corrupt role models that we have followed in the past and start chatting a new course for ourselves by looking to people whose lives have paved a walkway to greatness.

Remember to go out there and start or continue buying and watching our movies, like Anchor Baby, Last Flight to Abuja, Doctor Bello and many other titles out there that are good quality products. My movie,Render to Caesar, will be in the cinemas sometime in November. It promises to be a must watch for everyone. I’m starring alongside Gbenga Akinnagbe (The Wire, Lottery Ticket), Wale Ojo (Phone Swap, Johnny English), Lucky Ejim (The Tenant), Kalu Ikeagwu, Dede Mabiaku, Bimbo Manuel and many others.
Our future depends on your consistency in supporting us so that we can keep smiling.

Exclusive photos from Waje's birthday party last night

Songstress Waje celebrated her birthday with friends and colleagues at Sailors in Lekki last night. Omawumi, Tiwa Savage, Sasha, Toke Makinwa, Kaffy, Mai Ataifo, Noble Igwe, Latasha Ngwube, Ebuka Obi-Uchendu and many others were at the birthday shindig. More photos after the cut...

Rita Dominic's lovely outfit to Nigeria Entertainment Awards in NY

Rita Dominic looking stunning in an outfit by Ugonna Umeruo's House of Nwocha at the Nigerian Entertainment Awards last night in New York. She also won an award. Congrats to her...

12-year-old, others arrested for pipeline vandalism

   

The Nigeria Security and Civil Defence Corps has arrested 30 people for alleged pipeline vandalism in Isheri Olofin area of Ogun State.

PUNCH Metro learnt that the suspects were arrested on Saturday morning after a combined team of NSCDC officials from the Lagos and Ogun state commands engaged in a gun duel with some pipeline vandals.

Among those arrested are a 12-year-old boy, Azeez Ajani; a 13-year-old boy, Michael Oyedotun, two pastors, six women and 20 others.

The Commandant, Ogun State Command, Mr. Akinwande Aboluwoye, said over 20,000 litres of stolen fuel were recovered from the vandals.

He said, “We got a tip-off that the vandals were going to operate early on Saturday morning, so we intensified surveillance. They were arrested with their canoes and 400 jerry cans of petrol, each jerry can contained 50 litres.

“The vandals had engaged us in a gun duel and when the heat became too much, they abandoned the products, jumped into the water and escaped. However, we were able to apprehend their cohorts who live in the area.”

Aboluwoye said the canoes had been set ablaze while security had been beefed up in the area.

A resident, who spoke to our correspondent on the condition of anonymity, said the suspects carried out pipeline vandalism in an organised fashion.

She said, “The men usually come at midnight to break pipelines. The children assist them in loading the petrol into kegs, which are later kept inside the houses of residents. The role of the women is to source for buyers who usually come during the day to buy the fuel at cheap prices.

“When I realised this trend, I quickly informed the NSCDC to avert a fire disaster.”

The suspects, however, denied the allegations, saying they were not pipeline vandals, but new residents of the area.

The 12-year-old suspect said, “I am a tailor’s apprentice in the area. My father is late and my mother lives in Ajah. I don’t know anything about pipeline vandalism. I leave home very early everyday and I come in late at night so I never know what is happening in the area.

“The only thing I know is that when I wake up in the morning, I usually see jerry cans in the area.”

The 13-year-old suspect, who also claimed to be a tailor’s apprentice, said he was about to bathe in the Ogun River when he was apprehended by the NSCDC officials.

“My parents live in Ifo, I only moved to the area recently. Please, I know nothing about this. My parents don’t even know that I have been arrested.”

A pastor, Nikuleyi Adesola, said he was arrested while leaving church with two other female members.

“I am a carpenter and also a pastor. I live in a mission house. I was with two female members when the civil defence men order us to come out. I am not a vandal,” he said.

The commandant said the suspects would be charged to court, adding that past investigations had shown that women and children were also involved in the illegitimate business.

Beverly Osu says she didn't have sex with Angelo in the BBA House

We all saw what we saw but Beverly Osu says we saw wrong, that she never had sex with Angelo in the Big Brother Africa house. She tells  Punch

"Angelo and I never had sex.I didn’t have sex in the house. I never had sex in the house.

But we saw the two of you in the bath tub, making love
We didn’t have sex. It was not an option for us. I don’t know where the people outside got the story from. I was shocked when I came out of the house and learnt that we had sex. I cannot take my bath with a swimming suit. We all take our bath naked. I shouldn’t be singled out because I went for a reality show. I am not different

What of all the other intimate things you did with Angelo? Didn’t you mind that the whole world was watching?
Whatever I was doing with Angelo, I didn’t even think I was on TV. It was just the two of us. We didn’t plan anything, we were just happy. No matter how people will look at it, I don’t regret anything I did with Angelo. I didn’t bring out the video and said everybody should look at me. Big Brother brought out the video.

How come it was Angelo you fell in love with in the house?
I had so many options to choose from in the house but I wasn’t attracted to any of them. But for some reasons I still do not understand, I fell in love with Angelo. I got attracted to him from the first day I saw him. For now, I will see where the relationship will take us.

So, you don’t mind the difference in nationalities?
There is no race when it comes to love. I can always go there and he can come here.

Don’t you think you embarrassed Nigeria in the house?

I was in the house to represent Nigeria. Of all the people that went for the audition, I was chosen. If anybody feels he can do better, he should go and get BBA form next year and apply and get in the house. I know I represented Nigeria very well.

You said so many things in the house. Were they all true or were you looking for sympathy?
I am a shy person. I shy away from a lot of things. But I was ‘open’ in the house. I say what is on my mind. For me to reveal myself to the world, I was just talking to my housemates. I don’t regret anything I said about myself or my family. People have to know the real me.

You mentioned something about a boyfriend that abused you. Were you referring to 2shots?
No. I wasn’t referring to him. For me, 2shots is history. Thank you for reminding me about him.

Is your mother happy with you?

Even if the whole world rejects me, my mother cannot reject me. I love her so much. I am her only daughter and last born. She has always been there for me. I wouldn’t want to disappoint my mum intentionally.

Were there things you did in the house you regret?

Nothing. I don’t have any regrets. I was in a beautiful house. I loved Melvin. He was the best in the house. Meeting everybody in the house was a blessing. I don’t regret anything.

What would you have done with the prize money if you had won?

I would have finished school. I would have started my make-up line. Trust me; I would have done a lot of things. Everybody has a degree. I must get a degree. With my degree, I can go further and do anything I want to do.

Jonathan holds crisis meetings in Aso Villa • Obasanjo, rebel govs, others attend

President Goodluck Jonathan on Sunday  held two separate  meetings  with former President Olusegun Obasanjo and 16 Peoples Democratic Party  in what is believed to be  his  bid  to resolve the crisis that led to the emergence of a splinter group in the  party.

He first met  behind closed doors with Obasanjo for about two hours  inside  his  official residence in the Presidential Villa, Abuja and then the governors, including four of the seven that are the arrowheads of the splinter group known as the new PDP.

The four  are Babangida Aliyu (Niger), Rabiu Kwankwaso (Kano), Muritala Nyako (Adamawa) and  Abdulfatah Ahmed (Kwara).The other governors in the Group of Seven are Aliyu Wamakko (Sokoto), Sule Lamido (Jigawa) and Rotimi Amaechi (Rivers).

The G-7 and  a founding member, Alhaji  Atiku Abubakar, had walked out of the PDP  special convention in Abuja on Saturday   and consequently, announced  the   formation of the new PDP.

Also in the faction are a former  Acting National   Chairman of the PDP,  Kawu Baraje; a suspended National Secretary, Prince Olagunsoye Oyinlola;  and a former National Deputy National Chairman, Dr. Sam Jaja.

They were said to have been miffed by the way Dr. Bamanga Tukur and the Presidency had been running the  party to the exclusion of other critical stakeholders.

Less than 24 hours after the splinter group emerged, Obasanjo,  who did not attend the  special national convention  at the Eagles Square, Abuja,  showed up at the Presidential Villa.

Decked in a white flowing dress (agbada) and a traditional cap, Obasanjo  first  joined Jonathan and his wife, Patience, for Sunday service at the Aso Villa Chapel .

The former President’s  visit coincided with that of the President of Benin Republic, Boni Yayi, who also worshipped with the first family inside the chapel.

After the service, Jonathan led his guests to the children church where they  took turns to pray for the children.

The President, former President, Yayi and the Chief of Staff to the President, Chief Mike Oghiadomhe, thereafter retired into the President’s residence “for lunch.”

It was however learnt that the President  discussed  issues bordering on the crisis in the PDP  with Obasanjo and bilateral relations with Yayi.

It will be recalled that  Wamakko, Aliyu, Kwankwaso, Nyako and Lamido  had met with Obasanjo in his Abeokuta, Ogun State  residence as part of their nationwide consultations over the state of the nation and the party.

They also met with former military dictators, Gen. Abdusalami Abubakar  and Gen. Ibrahim Babangida in Minna, Niger State.

As part of efforts to resolve the crisis, Obasanjo had in August met with  PDP governors inside the Presidential Villa for two days.The meeting did not however yield any positive result.

Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, confirmed to journalists that Jonathan met with Obasanjo and Yayi after worshipping together at the chapel.

 In a brief  statement made available to journalists, Abati explained that Obasanjo did not participate in the bilateral  talks between the President and Yayi. He however did not say what his boss dscussed with the former President.

The   statement reads, “President Goodluck Jonathan met on Sunday at the Presidential Villa with President Boni Yayi of neighbouring Benin Republic.

“Both leaders attended Sunday service together at the Villa Chapel before proceeding to the presidential residence for lunch and bilateral talks.

“The talks between them focussed on issues related to the strengthening of developmental cooperation between Nigeria and Benin Republic, including trade and economic relations.

“Former President Olusegun Obasanjo worshipped with President Jonathan and President Yayi at the Presidential Villa but did not participate in the talks between them.”

* Jonathan’s meeting with 16 govs

Hours after meeting with the former President and Yayi, Jonathan also held a crucial meeting with Governors  Aliyu, Kwankwaso, Isa Yuguda (Bauchi), Nyako (Adamawa), Idris Wada (Kogi), Liyel Imoke (Cross River), Godswill Akpabio (Akwa Ibom), and Ahmed.

Others were Emmanuel Uduaghan (Delta), Ibrahim Shema (Katsina), Ramalan Yero (Kaduna), Garba Umar (Taraba Acting Governor), Seidu Dakingari (Kebbi), Theodore Orji (Abia), Ibrahim Dankwambo (Gombe) and Jonah Jang (Plateau).

As at 9.25pm when Jonathan arrived the venue of the meeting, the 16  governors had taken their seats  inside the First Lady’s conference room in the Presidential Villa

The PDP lawyer, Mr. Joe Gadzama (SAN), also attended the meeting alongside the Secretary to the Government of the Federation, Senator Anyim  Pius Anyim and the National Security Adviser, Col. Sambo Dasuki (retd.).

The meeting was still ongoing as at 10am when this report was filed.

• Obasanjo  sues for peace

Obasanjo expressed concern over the development and called on both  sides to maintain the status quo. He  assured in a brief statement on Sunday evening  that a meeting of the elders of the PDP would be convened before the end of this week over the matter.

 The statement reads, “The situation in our ruling PDP  after the convention on Saturday and the parallel convention same day has given great concern to all well-meaning members of the party and particularly to the elders of the party.

“While some select elders are making efforts to get the situation resolved as soon as possible, it is imperative to emphasise that the move will bring back peace and return  it to its vigorous and dynamic election-winning  ways.

“I want to passionately appeal to both sides for now to sheath their swords, maintain the status quo, with earliest conveyance of the elders’ meeting before the end of this week.  Members are equally enjoined to remain calm until the elders’ complete their peace-making meeting.”

• Amaechi, others shouldn’t  misbehave – Presidency

There were however discordant  tunes  by the Presidency, Obasanjo  and the Chairman of the PDP Governors’ Forum, Chief  Godswill Akpabio, on the factionalisation of the PDP.

While the Presidency, through the Special Adviser to the President on Political Matters, Ahmed Gulak, blew  hot on Sunday  over the development,  Obasanjo and Akpabio  preached  reconciliation.

Gulak, in an interview with one of our correspondents in Abuja, said the formation of the new PDP was  the  “height of irresponsibility.”

He said if the intention of the seven governors was to cause crisis in the party  and then jump ship, they would not succeed.

The presidential aide said with the provisions of the 1999 Constitution, the Electoral Act and other extant laws, the  governors and the others in their group  had no  basis to misbehave or be irresponsible.

Gulak said although the PDP remained one united family, it  would not be moved if some of its  members opted to become “prodigal sons or daughters.”

He said  Jonathan was not disturbed about the development because of his belief that everybody had  the right to aspire to the highest office in the land.

Gulak said,  “That development is the height of irresponsibility. Nobody expected people in their positions as governors to do that. They should know what the law says. They should know what INEC regulatory Act says.

“They should know that there is only one PDP and if they want to precipitate crisis in the PDP, they will not succeed. If they want to leave PDP and join another group, they are at liberty to do so.

“As far as we are concerned, there is one PDP and the party had its national convention yesterday (Saturday) and we elected officers to fill the vacancies in the National Working Committee.

“As far as the PDP is concerned, we remain a united family but if your son or daughter decides to be a prodigal son or daughter, so be it. But we plead with them to be reasonable; to be law-abiding;  to know that nobody is above the law.

“The Electoral Act and the  constitution  and extant laws are very clear on this issue. They have no basis at all for misbehaving; they have no reasons at all to be irresponsible. They should come back to their senses and abide by the rules and regulations if they want to continue in PDP.

“But if they have decided to abandon PDP, jump ship and join another political party or form another political party, they are at liberty. We are not perturbed; we are not disturbed. Everybody has the right to aspire to the highest position in this country.”

•Akpabio vows to reunite aggrieved govs

Akwa Ibom State Governor and Chairman of the PDP Governors’ Forum, Chief Godswill Akpabio,  had told  journalists at  the Eagle  Square  venue of the convention that he would reconcile the aggrieved governors.

He  said,  “Let me tell you that some of my colleagues and I have resolved here and now to ensure a total reconciliation  with all those that have  grievances. I can tell you that there was a break in communication. I was with the former Vice- President and we even took pictures with the Deputy President  of the Senate, Ike Ekweremadu, at the convention venue.

“This is a family affair and I can assure you that in a few days’ time, this matter would be resolved.”

He added that  the PDP Governors’ Forum had commenced reaching out  to the governors, whom The PUNCHlearnt,   continued their strategy meeting after their press conference  at the Jigawa State Governor’s Lodge  in Abuja on Saturday.

• Nyako predicts more  crises

But  Nyako predicted more crises for  the Bamanga Tukur-led  faction of the PDP. He  said the Tukur faction  would split in the next two or three months.

The Director of Press, Adamawa State,  Mr. Ahmad Sajo,   spoke on behalf of the governor in a telephone interview with one of our correspondents on Sunday.

Justifying their action, Nyako  advised  the Tukur leadership to carry out a thorough assessment of the party with a view to finding a lasting solution.

He said, “The step we took was the right step. Now, if they have eyes to see the reality, they would seek for a genuine understanding of the situation with a view to finding a lasting solution.

“If they continue to toe the same line even what they parade as the PDP (the Tukur faction) will split in the next two or three months.”

He said the Tukur leadership disallowed authentic delegates from Adamawa State  from participating in the convention.

“All the people in the Adamawa  list were not national delegates. Some of them were candidates of the Labour Party at the time the PDP held its congress to elect its national delegates,” Nyako  added.

The governor, who  said that the  PDP in the state  would take a legal action, claimed that Abubakar was disrespected at the convention.

“Turaki Abubakar was not given a seat at the state box as a former Vice-President and Board of  Trustees member.  He was told to go and sit with ordinary delegates  from Adamawa State. He was disrespected,” Nyako said.

•Clark blames Obasanjo

A former Minister of Information, Chief Edwin Clark, on Sunday  asked Nigerians to hold Obasanjo responsible for the action of the  seven PDP governors.

Clark, an ardent supporter of  Jonathan, insisted that Obasanjo was encouraging  Lamido and  Amaechi to run for Presidency on a joint ticket in 2015.

He told journalists in Abuja that the ambition of the two governors was the beginning of the crisis in the PDP.

He said, “Obasanjo is the one encouraging them; he is pushing governors Lamido and Amaechi to run in 2015, that’s where the trouble started.

“Amaechi thought because Senator Bukola Saraki used the Nigeria Governors’ Forum chair to contest to be President, he could also use it to become Vice-President and we have said in the South-South that we want President, not Vice-President. So, the  group of   governors which Amaechi has joined believes only a Northerner can  be President.”

On the involvement of the  former Vice-President,  Clark said, “Abubakar  said he is in PDP, not PDM but all his men are in PDM. Is that a loyal member of the party? All his followers have left. PDM was created   by Abubakar.

“Even Governor  Nyako had boasted that they would bury the PDP. Let them go, but I can tell you that PDP will remain stronger.  They will soon know that they are alone. Abubakar has always been a disloyal person; what he is doing now is what  he had done to Obasanjo.”

PDP crisis: Nuhu Ribadu speaks out...

Former VP Atiku Abubakar, former governors Olagunsoye Oyinlola and Bukola Saraki, and seven other serving governors today formed a new faction of the PDP and Nuhu Ribadu thinks it's good more democracy. See more Tweets after the cut...

Obama wants to take military action against Syria, seeks congress vote

For attacking its citizens with chemical weapons on August 21, president Barack Obama wants the US to take military action against Syria and is now seeking congressional authorization to intervene.

The Syrian government carried out chemical weapons attack in Damascus in the early hours of August 21, killing at least 1,400 people as they slept in their homes. Although the government is denying being behind the attack, president Obama says the military action against Syria is necessary to deter future chemical attacks...not only in Syria but other governments thinking of doing same.  

"We cannot and will not turn a blind eye to what happened in Damascus. What message are we sending out if a dictator can gas hundreds of children to death in plain sight without paying a price" Obama said

Once the US congress reconvenes on September 9th, president Obama will have his answer. Do you think the US should take any military action against Syria? Meanwhile Britain has said they will not take part in any military action against Syria but UK Prime Minister David Cameron tweeted that "he understands and supports president Obama's position"

The Ibru sisters new look

Popular Ibru sisters and daughters of billionaire businessman Olorongun Michael Ibru, Gloria, Elvina and Obukome Ibru have lost a lot of weight. Have y'all noticed it? They've been stepping out at several events looking quite trim and healthy. See their before and after photos after the cut...

 

The Ibru sisters before...