The Nation Newspaper

Author: The Nation

  • SEC okays Lagos Commodities Exchange to start operations

    NIGERIA’S apex capital market regulator, Securities and Exchange Commission (SEC) has finally approved the commencement of operations of the Lagos Commodities and Futures Exchange (LCFE) as a full fledged commodities and futures market.

    The final approval followed the initial approval-in-principle granted by the Commission to LCFE. With the latest approval, the commodities and futures market is set to leverage the assembled best talents to commence operations as an influential brand, established to unlock its true potential in the financial market.

    LC FE plans to trade on four broad ranges of assets that promise to open up enormous wealth across the country. These include agricultural commodities, currencies, solid minerals and oil and gas. The LCFE is being promoted by the Lagos State Government and Association of Securities Dealing Houses of Nigeria (ASHON).

    Besides, SEC has also approved the appointment of the top management team to drive the operations of the new Exchange.

    According to a letter of approval, signed by SEC’s Head of Department, Registration, Exchange and Market Infrastructure, Mr. Emomotimi Agama, on behalf of the Acting Director General of SEC, Ms Mary Uduk, the final approval took effect from June 14, 2019.

    “In the exercise of the power conferred on it by the Investment and Securities Act (ISA) No 29 of 2007 and the rules and regulations made there-under, the Commission has granted your company, registration to perform the function of a Commodities and Futures Exchange in the Capital Market with effect from June 14, 2019. By virtue of this registration, you are authorised to perform the function for which you are registered,” SEC stated in the approval letter addressed to LCFE’s Managing Director and Chief Executive Officer, Mr Akin Akeredolu-Ale.

    Read Also: IoD probes Oando-SEC crisis

    Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Patrick Ezeagu said SEC has shown a commitment to open up the commodities market ecosystem for ASHON’S initiative of floating LCFE to come to fruition.

    “Congratulations to the market, the operators and the economy. We are really grateful to SEC, shareholders, and all our partners-Nigerian Stock Exchange (NSE), Central Securities Clearing System (CSCS), technology providers and all others that collaboratively birthed this new baby,” Ezeagu said.

    As a collective endorsement of the new organization which has opened more opportunities for diversification of their businesses,  stockbrokers had early this year converged at the corporate office of LCFE for on-the-spot assessment and appreciation  of the facilities for trading. They commended ASHON for the initiative and registered their loyalty to the new trading platform. Also, many professional and technical groups have been identifying with the management of LCFE.

    Analysts said the Nigeria’s capital market was long overdue for a thriving commodities exchange in view of the ongoing occasional shocks in the international oil market and the federal government’s resolve to give agriculture a pride of place as the country’s major income driver.

    The top management team of LCFE include Mr Ige Lawrence Ifedayo, the Compliance Officer while Dr Umunnaehila Allwell Iheanyi and Mr Omowale Rotimi Solomon are Principal Officers.

  • NNPC subsidiary’s profit hits  N4.75 billion

    A subsidiary of the Nigerian National Petroleum Corporation (NNPC) -National Engineering and Technical Company Limited (NETCO’s) operating profit increased by 130 percent from N2.07 billion in 2017 to N4.75 billion in 2018,  its chairman, Mallam Bello Rabiu, has said.

    In his statement at the 29th Annual General Meeting of the company in Abuja yesterday, he recalled that in the previous year, the company’s revenue rose by 63 per cent (N2.68 billion) from  N22.46 billion  to N36.64 billion in the year under review.

    He added despite the challenges in the industry, the firm was able to record a total profit before tax of N6.75 billion which represents an increase of 107 per cent from N3.26billion in 2017.

    His words: “Despite the challenges faced in the industry, NETCO was able to record a total profit before tax of N6.75billion which represents an increase of 107 per cent from N3.26 billion in 2017.

    “The company’s revenue also increased by 63 per cent from N22.46 billion in the previous year to N36.46billion in the year under review. The operating profit of the company increased by 130 per cent (N2.68billion) from N2.07 billion in 2017 to N4.75 billion in 2018.”

    Owing to the leap in profit performance, according to Rabiu, NECTO overshot its last year’s highest dividend record of N750 million, and the company declared a dividend of N1.50 billion to its shareholders at the meeting.

    He said that the leap was an increase of 100 percent dividend from the previous year.

    Read Also: NNPC technical coy declares N6. 75bn profit in 2018

    The chairman however attributed the achievements in the year under review to two major projects: Mobil Producing Nigeria (MPN) Major Integrity Projects (MIPs) EPCm2 and NPDC FPSO Mystras  Operations & Maintenance Contract; and the enforcement of cost reduction measures that were adopted during the period with the management and staff doggedness.

    Rabiu said that the success was also through the sustained efforts on the part of the company to leverage on the continued strong support of the shareholder and Group Managing Director in particular, which culminated in the award of some big ticket projects.

    NECTO, he said, ensured that the projects were delivered on time, within budget and without compromising quality in service delivery.

    Presenting his management report, the Managing Director, Engr. Mustapha Yakubu said that authorized share capital of the company remained 1,000,000,000 ordinary share of N1.00 each.

    He explained that in 2018, the issued share capital stood at 1,000,000,000 of N1.00 per share, fully paid-up by the shareholders. While 99,999,995 shares were due to the Nigerian National Petroleum Corporation,  five shares were due to Nigerian Petroleum Development Company Limited.

    In year 2018, according to Yakubu, there was no acquisition of the company’s shares.

    He revealed that the company’s staff strength as at December 31, 2018 stood at 380 comprising 77 NNPC staff, 88 NETCO Direct Staff and 215 Project Staff.

    He revealed that the company’s staff strength as at December 31, 2018 stood at 380 comprising 77 NNPC staff, 88 NETCO Direct Staff and 215 Project Staff.

  • Standard Chartered unveils Women in Tech programme

    STANDARD Chartered Bank (Nigeria) Limited has launched the SC Women in Tech Incubator. The scheme is to support and promote the economic and social development of women in Nigeria through innovation or technology led entrepreneurship. Through this initiative, the bank will be focusing on capacity building for women-owned small enterprises and see this as a great opportunity to support greater diversity in gender representation within technology entrepreneurship for women in the country.

    The Standard Chartered Women in Tech programme will target female-led entrepreneurial teams and provide them with training, mentorship and seed funding. There will be an open call for participation leading to a final selection of up for the top 10 contestants with the most compelling ideas. At the end of the training period, up to five winners will be chosen and each winner will be awarded up to $10,000 to invest in their business.

    The event included an all-women panel discussion led by Olga Arara-Kimani, Regional Head, Corporate Affairs, Brand and Marketing, Standard Chartered Bank along with Adenike Adeyemi, Executive Director, FATE Foundation; Bode Abifarin, COO of Flutter Wave Incorporated; Odun Eweniyi, CoFounder, PiggyVest; Abisoye Ajayi-Akinfolarin, Founder, Pearls Africa Youth Foundation; and Oreoluwa Lesi, Women’s Technology Empowerment Centre who moderated the session.

    Read Also: ‘Young people need to harness the power of technology to their advantage’

    The panel discussed about the importance of establishing sustainable businesses that meet specific pertinent socio-economic demands; demystifying technology and making it accessible to more women and youths as part of economic empowerment. The panel also highlighted the need for more collaboration between sectors; proper profiling of businesses for access to funds and specialist support; hands-on training and mentoring.

    Commenting on the launch Dayo Aderugbo, Head, Corporate Affairs, Brand and Marketing, Nigeria and West Africa at Standard Chartered Bank said  “We are pleased to launch the SC Women in tech Incubator in Nigeria today. We are optimistic about the impact this programme will have on the socio-economic empowerment of women entrepreneurs in Nigeria.

    The support the beneficiaries will get will go a long way in ensuring the sustainability of the businesses while creating employment for more women and youths in the country. We are excited about the endless growth opportunities and ripple effect impact this growth will have on the economy. This initiative builds on the Bank’s track record of increasing women’s access to entrepreneurial finance, employability and supporting adolescent girls and women through financing and capacity building.”

    The launch of the programme in Nigeria follows a successful rollout of a similar initiative in USA, Kenya, Pakistan and more recently in UAE by Standard Chartered.  The Bank first launched the programme to support women in technology in 2014 at the City College of New York where it created the Women Entrepreneurs Resource Centre. The US program includes a dedicated workspace, mentorship, coursework and access to an extensive network designed to support entrepreneurs navigating the challenges of starting a business.

  • MPC: Loan write-offs raise financial soundness indicators

    Major financial soundness indicators (FSIs) have improved in April 2019 due mainly to loan recoveries, disposals and write-offs, a member of the Monetary Policy Committee (MPC) and Central Bank of Nigeria (CBN) Deputy Governor, Edward Lametek has said.

    In his personal statement on the last MPC Meeting released yesterday by the apex bank, Lametek said  the industry capital adequacy ratio (CAR) increased marginally to 15.60 per cent in April from 15.14 per cent in February, while Non-Performing Loans (NPLs) decreased to 10.95 per cent from 11.28 per cent.

    He said the NPLs ratio is still higher than the prudential limit of five per cent. “Other vulnerabilities in the industry include high concentration and contagion risks as well as significant FX exposure. These conditions have tended to increase averseness to risk in the industry leading to some form of asset substitution. It is especially concerning that credit to the private sector is declining and this needs to be halted and possibly reversed to strengthen economic activity and job creation,” he said.

    Read Also: Financial inclusion: Micro Pension Plan to the rescue

    “In arriving at a decision at the May MPC meeting, I reckoned that the effects of the downward adjustment of the MPR in March had not fully manifested and that downside risks to growth were quite strong. Although, interbank rates slightly eased in response to the adjustment in the policy rate, retail rates remained sticky downwards. More importantly, credit to the real economy declined. In my statements following the immediate past two MPC meetings, I underscored the need to support growth given the weak outlook for economic activity based on indications from the oil sector, external vulnerabilities and sluggish consumption demand. I am persuaded to sound a similar tone in this statement given that the outlook for growth and employment continues to be hazy and largely uncertain in view of multiple risks at home and abroad,” he said.

    “Much as openness offers numerous benefits, it certainly increases exposure to external risks and vulnerabilities, which economic policy must continuously take onboard. I perceive, at the moment, that the external threats to medium-term economic stability of Nigeria are quite strong, meriting a coordinated policy shield in the form of building buffers (fiscal and monetary) and clear signals to the markets,” he added.

    Another MPC Member, Festus Adenikinju,  said the financial system indicators (FSI) since the last MPR meeting continue to trend in the right direction.

    “The NPLs ratio is trending downward but is still significantly above prudential benchmark, requiring more actions by the Central Bank and by the DMBs. The preference shown by the DMBs for fixed income government assets over credit to the real sector of the economy is worrisome. Credit to real sector is not only low but decreasing in relative terms in asset portfolio of DMBs, and is concentrated on low employment generating sectors. Banks seems to have abandoned their primary role of intermediation. This unhealthy trend should be strongly discouraged. Banks continue to focus on easy ways of making money, including through its various charges on customers and government securities, at a time when the economy is in dire needs of banks’ credit,” he said.

    Adenikinju added that the Nigerian economy needs a vibrant consumer credit system in order to drive private consumption and expand domestic supply. Consumer credit is a major driver of growth in a capitalist economy. However, the ecosystem and institutions needed for a successful consumer credit system must be established.( It is also disappointing that the decrease in the MPR in March has not impacted in expected way on rates at the retail end of the credit market, although rates on intermediate financial assets decrease. Maximum and prime lending rates rose in April, while rates on consolidated demand, savings and terms deposit declined, further worsening the gap between the average lending and deposit rates.

    “Coordination between monetary policy and fiscal policy is important to ensure that current policy interventions have the desired impacts on the economy. Fiscal deficit is high and worrisome, government debt is rising in the face of underperforming revenue, and security is a major challenge, posing significant threat to investment and economic growth. One viable way to address revenue under performance is for the government to explore alternative funding sources for infrastructure projects,” he said.

  • Ondo Poly shut over ASUP’s protest

    The management of Rufus Giwa Polytechnic, Owo (RUGIPO), Ondo State has closed down the school over protest embarked upon by the institution’s Academic Staff Union of Polytechnic (ASUP).

    Students of the institution are supposed to be writing their first semester of 2018/2019 academic session.

    The Acting Registrar of the polytechnic, Sule Atiku, at a news conference yesterday announced the closure.

    He said: “In view of this development, I wish to intimate that all students of the institution are hereby advised to vacate the institution not later than 3:00p.m.

    “This closure has become imperative in order for council and management to forestall the breaking down of law and order.”

    Chairman of ASUP Oluwadare Ijawoye said the association was only barring its grievances towards injustice and ill-treatment from the school management.

    Read also: Striking NASUP workers shut LASPOTECH gate

    Ijawoye noted that the Acting Rector Mr. Gani Ogundahunsi’s policies and decisions were hostile and against the welfare of ASUP members in the school.

    He said the management withheld almost N500 million out of N1.7 billion released  by the state governor, Oluwarotimi Akeredolu, to offset nine months’ salary arrears and emoluments of the institution’s staff.

    According to him, courses in RUGIPO are on verge of de-accreditation according to the National Board of Technical Education (NBTE) for lack of payment of staff salaries, emoluments and promotion.

    The ASUP chairman said it was disheartening that his members had not been promoted for three years, attributing the faults to Ogundahunsi-led management’s policies.

    He also accused the management of non-remittance of six-month salaries deduction, amounting to N630 million to various cooperative societies in the school.

    The chairman, therefore, appreciated efforts of the state governor on transforming the institution, asking him to nip in the bud the alleged hostility of the school’s management to its staff.

  • Oando: Pressure mounts on SEC over due process

    NIGERIA’S apex capital market regulator, Securities and Exchange Commission (SEC) has come under pressure to review the process of its investigation, adjudication and conclusions on the alleged corporate governance abuses at Oando Plc.

    SEC had on May 31, 2019 released a statement indicting the management and board of Oando of sundry corporate governance abuses and infractions of the relevant capital market laws. SEC barred the Group Chief Executive Officer (GCEO) and the Deputy Group Chief Executive Officer (DGCEO) of Oando from being directors of public companies for a period of five years. SEC also ordered certain members of board of directors of Oando to resign.

    SEC also directed the payment of monetary penalties by the company and affected individuals and directors, and refund of improperly disbursed remuneration by the affected board members to the company. SEC directed the convening of an Extra-Ordinary General Meeting on or before July 1, 2019, to appoint new directors.

    According to the SEC, following the receipt of two petitions by the Commission in 2017, investigations were conducted into the activities of Oando. Certain infractions of relevant laws were observed. The Commission further engaged Deloitte & Touche to conduct a Forensic Audit of the activities of Oando.

    But shareholders and stakeholders have faulted the process adopted by SEC, accusing SEC of bias and lack of fairness.

    Chief Olatunde Okelana, a concerned minority shareholder, said he was concerned about the processes that SEC followed.

    Speaking at the annual general meeting (AGM) of Okomu Oil Palm Plc attended by a representative of SEC in Abuja, Okelana said that an accused person is always entitled to a fair hearing before judgment is passed.

    According to him, in this case, the SEC, cannot play the role of both accuser and judge, neither does it qualify to dictate the tone of an appeal.

    He charged the regulatory body to follow the rule of law in exercising its regulatory powers, faulting the last minute suspension of Oando’s AGM by the SEC.

    Also, at the June 2019 Institute of Directors (IoD) Nigeria’s new members’ induction, Chief Executive Officer, Proshare Nigeria Limited, Mr. Olufemi Awoyemi, who was the guest speaker, said the Oando-SEC crisis was further exacerbated by the lack of, absence and the perception that those empowered to exercise such oversights themselves have serious issues of corporate governance to contend with.

    “While this debate struggles with traction, it is my considered view that, Directors are better served by immediately availing themselves with best practices; upgrade their knowledge, understanding and application of their roles and responsibilities to render unto themselves and society a risk-based discharge of their functions. Waiting for clarity brings with it unintended consequences,” Awoyemi stated.

    However, he wants the IoD to retain a watching brief on regulatory developments especially on the SEC-Oando case with a view to coming out with learning guidelines around the pain points of the case study when the dust finally settles.

    The SEC-Oando saga has gained steady momentum since SEC released alleged infractions and sanctions on May 31, 2019. The increasing range of diverse voices that have contributed to the conversation means that this is likely to continue to dominate local and international news.  With the general public waiting with bated breath for the outcome of the court case adjoined to the 24th of June.

     

  • When numbers shape strategy: Lessons from data-driven banking in Nigeria 

    When numbers shape strategy: Lessons from data-driven banking in Nigeria 

    • Larry Anwansedo 

    In Nigeria’s competitive banking sector, strategy is no longer built on instinct alone. Increasingly, decisions are grounded in rigorous data analysis and evidence-based insights: Indeed, “the era of data utilization has come to stay”. 

    “Data is only powerful if you can understand what it’s telling you,” Robert Aderinmola explains. “My focus has always been on closing the gap between having information and making smart, strategic moves based on it.”

    This shift shapes the work of strategy professionals like Aderinmola, a Senior Strategy and Economic Intelligence Officer at Diamond Bank. His role centers on converting raw market information into meaningful narratives that guide decision-making. Much of his work involves providing clarity for the bank’s commercial teams. 

    Through brand health studies and customer attitude surveys, he builds a fuller picture of market sentiment. Instead of relying on assumptions, planning becomes anchored in what customers signal as their needs and preferences.

    There’s a concept in information theory called ‘signal-to-noise ratio’, Aderinmola explains. “In markets, you’re constantly bombarded with data, transaction records, customer surveys, competitor movements, and macroeconomic indicators. Most of it is noise. The skill is extracting the signal, the information that actually predicts what happens next.” 

    His methodology combined traditional brand health metrics with behavioral economics principles. Rather than simply asking customers what they wanted, people are notoriously unreliable predictors of their own behavior. His team analyzed revealed preferences: what customers actually did when faced with real choices.

    For the commercial team planning product launches and market expansion, this meant replacing assumptions with evidence. Instead of projecting market demand based on past trends, an approach that fails when conditions change, Aderinmola’s intelligence briefings provided forward-looking indicators derived from customer attitude shifts, competitive positioning analysis, and macroeconomic stress tests. 

    The impact extended beyond internal strategy. As a CNBC Africa analyst and Diamond Academy faculty member, Aderinmola translated these methodologies into practical frameworks that other institutions could adopt. His external visibility served a dual purpose: it positioned him as a thought leader while also pressure-testing his analytical approaches against scrutiny from industry peers.

    This approach is critical, as the Nigerian banking landscape is marked by dynamic shifts. As his team serves as a technical resource to the CEO’s office, Aderinmola’s proximity to top-level strategy enables him to ensure the bank’s direction is continuously refined by these insights. His work helps shape product optimization and development, particularly for the bank’s key large corporate and business banking customers.

    By constantly gathering market intelligence, Aderinmola provides the organization with an evidence-based foundation for decision-making. This allows the bank to move with greater agility, responding to market changes not with hesitation, but with confidence. His accurate market projections for target forecasting have been essential for managing growth in a rapidly evolving economy.

    The Nigerian banking experience illustrates a broader lesson: turning information into insight is not just about technical capacity, but about shaping strategy with clarity and precision. As institutions across the industry deepen their use of analytics, the ability to bridge the gap between data and decisions will remain a defining feature of successful banking leadership, Aderinmola emphasizes.

  • From SIM Scams to Cyber Strength: How One Man Sparked a Cybersecurity Revolution in Rural Northern Nigeria

    From SIM Scams to Cyber Strength: How One Man Sparked a Cybersecurity Revolution in Rural Northern Nigeria

    In a digital age where cyber threats loom large, an innovative initiative launched in 2017 continues to be celebrated for its profound impact on rural communities in Northern Nigeria. Mr. Samuel Adeniji, a visionary technologist and cybersecurity expert, spearheaded the “Rural Cyber-Resilience Initiative (RCRI),” a groundbreaking program designed to empower vulnerable populations with essential cybersecurity knowledge.

    Mr. Adeniji’s journey began in 2017 during a community outreach program in Kano State. He stumbled upon a paradox that would soon spark a transformative digital movement across Northern Nigeria. Mobile phones were everywhere. Farmers used them to check crop prices. Young students browsed the web for assignments. Traders transferred money across towns with the tap of a screen. But beneath this thriving mobile economy lay a troubling digital blind spot: cyber illiteracy. “Farmers, small shop owners, and students were embracing smartphones without any understanding of the inherent cybersecurity risks,” Mr. Adeniji explained. “Cases of SIM swap fraud, phishing scams via WhatsApp, and account takeovers were rampant, yet victims were often clueless about what had happened or how to protect themselves. That’s when I knew we needed a cybersecurity solution made not for tech giants, but for market women, herders, and small-town students.”

    A Model Rooted in the People

    At the heart of Adeniji’s RCRI are four pillars: basic cyber hygiene education in local languages, SIM security workshops, a grassroots cyber ambassador program, and a WhatsApp-based alert system for real-time scam detection.

    In a small classroom in Gwarzo, 42-year-old Hajiya Mariya Usman, a maize farmer, remembers the first time she heard the term “phishing.” “Before the training, I used to send my bank PIN to people I thought were from the bank. I lost N15,000 once. After the program, I learned to ignore those calls and never give out my codes,” she says with a wide smile.

    Similarly, Malam Garba, a groundnut farmer from Gwarzo LGA, Kano State, shared his experience: “Before Mr. Adeniji’s program, I lost money twice to strange messages on my phone. They would ask for my details, and I would give them. But after the training, I learned how to spot these tricks. Now, I don’t respond to any suspicious messages, and my mobile money is safe. This has helped me focus on my farming without fear.”

    Mr. Adeniji’s initiative recognized early that no outsider, however skilled, could embed cybersecurity awareness in tight-knit rural settings without trust. That’s why he created a Community Cyber Ambassador Network, training youths within the villages to become local cybersecurity guides.

    One such ambassador is Fatima Lawan, now 23, who leads awareness sessions in marketplaces and schoolyards. During an interview, she recounts: “We used radios, WhatsApp broadcasts, and even Friday mosque sermons. People started asking questions, reporting fake SMS messages. We created a culture of caution.”

    The success of RCRI extended beyond Kano. A local radio station in Kano, Arewa FM, aired the cyber hygiene tips in Hausa, further amplifying awareness. The initiative also became a template for similar digital literacy programs in Katsina and Jigawa states, demonstrating its scalability and effectiveness.

    The success of RCRI in Gwarzo quickly caught the attention of local leaders and digital policy advocates. Hon. Abdullahi Abubakar, Chairman of Gwarzo Local Government Area, Kano State, lauded the initiative: “Mr. Adeniji’s Rural Cyber-Resilience Model has been a game-changer for our communities. It has addressed a critical gap in digital literacy, empowering our people to navigate the online world safely. The reduction in reported cyber fraud cases is a testament to the effectiveness of this program. We are grateful for this impactful intervention.”

    The initiative also continues to spread to other northern states, attracting the attentions of local governments with similar problems. Speaking to The Nation, Hon. Abubakar Jibril, Chairman of the Birnin Kebbi Local Government Area, also praised the model’s adaptability: “We replicated the same framework with minimal resources. Within six months, our own youth-led workshops trained over 300 individuals, including farmers, businesspeople and youth coppers. The impact was immediate, with less fraud, more awareness.”

    Hon. Aisha Danlami, Chairperson of the Gumel LGA in Jigawa State, added: “Gumel LGA also benefited immensely from the framework established by the Rural Cyber-Resilience Model. It has fostered a more secure digital environment for our farmers and traders, ensuring that the benefits of mobile technology are not overshadowed by the risks of cybercrime. This grassroots approach to cybersecurity is truly commendable.”

    Global Implications, Local Roots

    In an era dominated by enterprise cybersecurity tools and high-level infrastructure, Mr. Adeniji’s initiative is a reminder that people, not just platforms, must be protected. “While advanced cybersecurity solutions primarily focus on enterprises, my project demonstrates that grassroots education, local context, and robust community networks can establish a formidable first line of defense against cyber threats in rural Nigeria,” he concluded. The enduring legacy of the Rural Cyber-Resilience Model continues to protect and empower countless individuals, proving that digital security is not just for the technologically advanced, but for everyone.

    Indeed, the Rural Cyber-Resilience Initiative is now being reviewed by several NGOs for adoption in other underserved regions of Sub-Saharan Africa, and Mr. Samuel Adeniji is being recognized as a key innovator in inclusive digital safety.

  • I wish to get into the entertainment world through dancing – Esosa Ogbebor

    I wish to get into the entertainment world through dancing – Esosa Ogbebor

    Getting into the entertainment world is not a big deal. There are thousands of people already towing that line and have made great success out of it. But when you are an American soldier looking to make a name through dancing, some may see it as a wild idea but for Esosa Omolola Ogbebor, a 19 year-old Nigerian-American soldier, dancing is not only a passion but a dream that germinated even before she was born.

    “Dancing has always been part of my life. My mom once told me that when I was in her womb, my legs always popped out when music came on. Dance has impacted me in a way where I can express my emotions. It makes me feel free and joyful. It has allowed me to show my creative side and connect with people more,” she said in a recent interview.

    “I consider myself a dance fashionista because I love to display my fashion side through dance. I consider my dance as growth in progress. I am currently collaborating with other talented dancers in the United States. I have also performed at different events.”

    Apart from her military and dance life, Esosa Omolola Ogbebor has many other personalities. She’s also a fitness lover, student and a social crusader committed to the campaign of empowering and motivating others through her social media handles, particularly her Instagram account @sosa_._

    “When I am not doing Army work, I am transformed into a fitness lover, student, and dance fashionista. My passion is dance and it is one of the things I love to do to keep fit. I also love to make creative videos on social media. My main goal on social media is to encourage people to chase their dreams and to never give up on anything they want to achieve in life. The military is part of my life and it has progressed my journey of who I’m developing to become. I use my platform to also encourage people that they can be anything they want in the military. Be all you can be! It’s about what you make of it. I work a lot of hours but I take advantage of the times I have off. God is my strength and I hope He can keep using be to be a light,” she added.

    As much as her sense of duty, training, loyalty is all American she’s a young woman totally enamoured by her strict African upbringing, carefully instilled by her mother whom she describes as her mentor and all she aspires to be.

    “My ultimate goal as a woman is to continue to grow, excel, and take advantage of all available opportunities without fear. My hope and aspiration is to be like my mom. She has inspired me to live a purposeful and inspiring life , not just for myself but for others. She is the most hardworking, ambitious and philanthropist I have ever met. My goal is to lift others up, inspire others, and help others in need,” she said.

    Her main goal, according to her on social media, is to encourage people to chase their dreams and to never give up on anything they want to achieve in life.

    “The military is part of my life and it has progressed my journey of who I’m developing to become. I use my platform to also encourage people that they can be anything they want in the military. Be all you can be. It’s about what you make of it. I work a lot of hours but I take advantage of the times I have off. God is my strength and I hope He can keep using be to be a light,” she stated.

    Esosa Omolola Ogbebor was born 19 years ago to Nigerian parents. Her mom is from Kwara State and her dad from Edo State. She was born in the United States (Washington DC). She moved to Nigeria at the age of four and returned to the U.S at seven.

    She attended Oakland Terrace Elementary School (Silver Spring MD), Newport News Middle School (Silver Spring MD) , and graduated from Albert Einstein High School (Kensington MD). Upon graduation from High School in 2017, she joined the United States Army.

    She is currently a student at the American Military University and taking prerequisites towards a Bachelor’s degree in Nursing.

  • Challenges of running boutique business enormous – Winifred Odibenuah

    Challenges of running boutique business enormous – Winifred Odibenuah

    Agency Reporter

     

    Every industry and business comes with its ups and downs as well as challenges that may be either transient or permanent. In Nigeria, running a business is never a picnic given the inconsistency in government policies and the debilitating ease of doing business in the polity. From the manufacturing sector to shipping, entertainment to oil and gas, real estate to import and export, unwholesome stories abound in getting things done and breaking even.

    Speaking from her own space , Winifred Ifechukwuda Odibenuah, the Chief Executive Officer of Wodibenuah Diamond Lounge who operates in the upscale rung of the ladder in the fashion sector gives insights into what it takes to run a fashion outfit vis-a-vis the inherent challenges.

    According to her, the challenges are quite numerous. “First is inconsistency in exchange rates and high rent fees. There are also the challenges of inconsistency in shipping and clearing fees. Another, is lack of constant electricity power which has now made one getting a store where service charges are applied in order to have uninterrupted power supply. These and many more are the challenges we face in this line of business. Challenges are bound to happen in business. First, I go back to the drawing board to think deeply from the root to see what has actually made challenges occur. Then, I try as much as possible not to allow it happen again by implementing a plan B,” she says

    “There happens to be a lot of work to be done here in Nigeria. Abroad, the government has made things easy for them; hence, making basic necessities needed for them to have smooth sailing of their businesses. But in Nigeria, the reverse is the case. We citizens have got to provide everything all by ourselves. This happens to be a great challenge as compared to what is obtainable in the Western part of the world,” she adds.

    On the question of whether the business is lucrative or not, the boss lady at Wodibenuah Diamond Lounge affirms that no business is lucrative, harping that it is passion that runs a business and not greed for reward.

    She counsels, “First and foremost I tell anyone who wants to venture into any form of business never to look into the lucrative part first . Rather, loving it as a passion should be your first step because most times a business you assume would yield money may not . But what makes you keep going is the love and passion that you have for it . Trust me, in little or no time it would surely pay off.”

    After graduating from the University of Abuja where she bagged a Bachelor’s degree in Chemistry Winifred Ifechukwuda Odibenuah, cut her teeth in the entrepreneurial world by making her passion a reality.

    “What stirred my passion for fashion? Basically, I will say fashion has always been my motivation. I have always been fascinated with every aspect of fashion which is why I turned it into my career. How I nourished it till my adult life wasn’t so easy for me because I was schooling in Abuja and most often than not, had to travel back to Lagos for business. It actually affected my studies but because I was so determined to continue with my fashion business I succeeded,” she said.

    She established Wodibenuah Diamond Lounge in 2014, a mesmerizing plaza of sorts where she sells female wears, gym wear and cosmetics. In the last five years she has carved a niche for herself as a top notch brand that caters to the fashion and makeup needs of upwardly mobile and fashion-centric women using technology-driven marketing skills while being temperate about prices.

    Winifred Ifechukwuda Odibenuah hails from Aniocha South local government area of Delta State. She’s Igbo by tribe but born and bred in Lagos.

    She attended Gloryland Nursery and Primary School, then moved to Ishaga Primary School. She had her secondary education at Community Senior Grammar School and her tertiary education at University of Abuja