Category: Money

Implementation of the Central Bank of Nigeria (CBN)-led naira redesign policy has also led to more customers embracing cashless banking.

With the ongoing cash scarcity, more people are embracing cashless banking. 

From people at the grassroots to high networth individuals and companies, the ongoing naira redesign policy has attracted diverse reactions.

CBN Governor, Godwin Emefiele, gave an insight to the expected impact of the policy on the financial system and economy. He said over N 2 trillion has been mopped up from the economy.

“Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN, thereby keeping the volume of currency in circulation under the firm control of the CBN,’’ he said.

The youth population is fast emerging as a strong, vibrant community of social, economic and even political evolution drivers. Hence, inculcating long-term social, economic and financial sustainability considerations in their financial decisions cannot be over-emphasised.

The financial institutions joined their counterparts across the world to mark the Global Money Week (GMW) with educational programmes and events aimed at enhancing financial literacy in children and youths while driving financial inclusion.

The theme of the financial awarenss campaign was: “Plan your money, plant your future.”

Nigeria is Africa’s number one country with the highest number of young people. According to population tracking body Worldometer, about 60 per cent of Nigeria’s estimated 221 million populations is made up of persons under 25.

Noteworthy also is that  youths are  establishing presence and relevance beyond the traditional domains of sports and entertainment. The expanding influence of youth demographics is rapidly impacting most sectors–consumer goods, retail sector, financial services, fintech and innovation, enterprise, media and very recently, politics. 

To continue to play their key roles and much more, however, financial education is a major need that young people must acquire. The reason is that lack of financial literacy and awareness is responsible for low-level money management skills in individuals, families, and businesses. It also results in poor planning for essentials like children’s education, healthcare, home ownership, savings, investment and retirement.

The launch of the National Financial Inclusion Strategy (NFIS) by the Central Bank of Nigeria (CBN), in 2012, is one among several steps taken by the Federal Government of Nigeria to increase financial education among the citizens, the youths inclusive. The target of the policy is to reduce the number of unbanked and underserved citizens by 95 per cent, by next year.

With banks mainstreaming financial inclusion/financial education into their corporate social initiatives, the NFIS has continued to garner the needed attention among banks in Nigeria. Banks, financial regulators and other financial institutions have dedicated enormous resources to promoting financial literacy and inculcate savings and investment culture among the youths.

For instance, Polaris Bank has continued to accord recognition to the rising power and limitless potential of the youth segment by rolling out numerous initiatives that empower young people in the country to fulfill their dreams and aspirations, as well as contribute significantly to national development.  

Thus, the bank reaffirmed its commitment to the youth by deepening its financial advocacy role of educating and inculcating in young Nigerians the culture of savings, investment and financial awareness.

In line with this year’s theme, Polaris Bank carried out financial literacy sensitisation campaign in select 37 schools across the six geographical zones, as well as in all its branches countrywide.

Employees of the bank visited schools to educate teens and students on financial literacy. The interactive sessions allowed the young learners to gain knowledge and understanding of topics such as: how money works, how someone can earn or make money as well as money management, including – planning and budgeting – and how to invest money, amongst others.

Polaris Bank, in partnership with the Central Bank of Nigeria (CBN) and programme execution partner, Junior Achievement of Nigeria (JAN), reached and educated over 4,000 students in 37 schools across Nigeria, including the Federal Capital Territory (FCT).

Similarly, senior officials of the bank during the school visit interacted with students and teachers to commemorate the GMW and donated books to the libraries of all the 37 schools they visited.

Polaris Bank has also created a wide range of products and solutions that can promote savings and investment culture. These include interest-yielding instruments such as Polaris Fixed Deposit, Long-tenured Fixed Deposit or Priority Fixed Deposit. It also encourages its customers–old and new – to buy government investment instruments such as Treasury Bills, bonds and debentures because of good yield.

Through its corporate social responsibility (CSR) and social investment initiatives, Polaris Bank, in addition to rolling out innovative banking products and services for customers across different strata, has demonstrated a commitment to enhancing the quality of life for Nigerians outside of its traditional function of providing financial services.

At the capital market, the Nigerian Exchange Limited (NGX) and Securities and Exchange Commission (SEC) organized many events to promote financial literacy, particularly the importance of savings and investments among the youth.

A financial literacy talk was held at the Exchange with secondary school students from across the country while a commemorative closing gong ceremony was held in honour of the activities marking the GMW.

Head, Marketing and Corporate Communications, Nigerian Exchange (NGX), Mr Clifford Akpolo said NGX, as the sustainable exchange championing Africa’s growth recognised the potential of a financially literate youth population which is crucial to drive economic development.

According to him, the Exchange places a high value on providing young people with the necessary resources to make informed financial decisions and is dedicated to supporting initiatives that promote sustainable spending habits and financial literacy.

Director, Market Development, Securities and Exchange Commission (SEC), Mr. Nestor Ikeagu, who spoke during the Commission’s GMW event, emphasised the importance of early culture of savings and investments.

He said SEC was committed to educating and enlightening the youths on money management and investment in the capital market.

Divisional Head, Financial Inclusion, Securities and Exchange Commission (SEC), Mrs Sa’adatu Faruk noted that savings and investments are means of creating enduring wealth.

She called for adequate planning and savings in order to drive the national investment base. 

GMW – a financial literacy sensitisation campaign is an annual programme organised worldwide to raise awareness and sensitise students on the need to be financially independent and empowered. This year’s theme focused on sustainability and raising awareness on the implications of dual financial behaviour not only on one’s financial future, but also on the environment and society. 

The theme also aimed to inspire young people to develop and cultivate positive behaviour on sustainable finance, and more broadly, on the importance of long-term social, economic and financial sustainability considerations in financial decisions.  The theme was focused on prompting young people to be forward-looking and to have a broad view on the environment and society in their financial decisions.

Since established in 2012, the Global Money Week campaign has reached over 53 million children and young people in 176 countries worldwide.

Bank customers have in recent months complained about high cost of accessing financial services from commercial banks. Many bank customers, who are unable to cope with excessive charges from their banks, are moving to Fintech companies, with faster network and almost zero charges, writes Assistant Business Editor COLLINS NWEZE.

Issues around the cost of accessing financial services to bank customers are among the most disturbing in recent months. 

With many customers embracing cashless banking following the Central Bank of Nigeria (CBN) currency reforms, the banks have been overwhelmed with the task of meeting the expectations, including their inability to cut the high cost to serve.

Banks have continued to charge different fees, including account maintenance charge, Unstructured Supplementary Service Data (USSD) Telco session charge, Electronic Money Transfer Levy, transfer Commission, NIBSS Instant Payment recovery charge, among others despite customers rejection of such charges.

Such excessive charges  have continued to rise, leading to loss of confidence in many banks’ services.

Fintech companies are the biggest beneficiaries of their trend, with companies like Pay, Palmpay, Kuda, among others are carrying out transactions previously done by banks.

Also, Fintechs such as Quick-teller, MoniDey, Baxi, PocketMoni, Unified Payments, Paga, Remitta and Cellulant, among others are part of the financial system, offering banking services to the banked and unbanked.

Many of these Fintechs provide zero-charges on transactions, and have proven to provide seamless transaction delivery.

Like Fintechs, banks are prioritising 24/7 access and  offer services available via non-traditional channels such as social media, empowering customers to a great extent.

For instance, when Stevens Oriseh, a Lagos auto merchant, entered the branch of a new generation commercial bank on Allen Avenue, Ikeja-Lagos, he was full of confidence.

Everything had gone well until he demanded the balance of his account to enable him transfer N1 million to a business associate. Minutes later, his poise and confidence caved in to anxiety and frustration.

“I am talking about my corporate account balance, not savings. That cannot be the balance because I made a cash deposit of N500, 000 to the account two days ago,” he told the customer service officer, who for the second time, crosschecked and confirmed the account balance.

Oriseh was wrong. It was the right account except that the balance had reduced by N10, 000 after the lender took all ‘outstanding fees’.

The transfer was done only after he made another cash deposit of N12, 000 to cover the newly introduced account maintenance fee and stamp duty charge.

Banks poor quality of services have also driven many customers to Fintechs.

Two payment options came to his mind. The first was to pay through internet banking platform of FirstBank Nigeria. The other was to use Quickteller or Paga network.

Few minutes later, he went for the Quickteller option. Quickteller and Paga are Financial Technology (Fintech) providing mobile money and digital payment services to consumers and are top competitors to banks.

As little as the N100 fee from the transaction seems it represents one of the millions of revenue leakages banks are fighting back to reclaim.

British International Investment (BII), the United Kingdom’s (UK’s) development finance institution (DFI), has announced a EUR 20 million commitment to The Urban Resilience Fund (TURF), launched by Meridiam.

 The investment is the DFI’s first investment in an urban infrastructure fund and supports the design and scale of climate-focussed infrastructure projects across sub-Saharan Africa – increasing the affordability, safety, reliability, and climate-resilience of public infrastructure in African cities.

 Meridiam is an infrastructure specialist with global expertise in developing, financing, and long-term management of sustainable public infrastructure in Africa. Through the fund, they will target infrastructure investments aligned with sustainability goals, such as energy efficiency and carbon capture. The Fund will invest in urban mobility such as bus rapid transit and modern cable cars.

BII has been an active partner to Meridiam, having also invested in their previous two funds – MIAF I and MIAF II, which  invested across major greenfield and brownfield infrastructure projects.

This included two solar parks in Senegal that deliver a combined 60MW of reliable electricity to households and industry, increasing firm productivity, facilitating economic growth and job creation.  

 This latest transaction reflects the companies’ vision to invest in low-carbon, climate-smart solutions for municipal environments experiencing the pressures of rapid urbanisation. Africa’s cities are the fastest-growing cities in the world; and while they pose challenges with insufficient infrastructure, pollution and congestion, the lack of existing development presents the opportunity to create exemplars of green public infrastructure.

The investment from BII helps contribute to the UN’s Sustainable Development Goals on industry, innovation and infrastructure (SDG 9); on sustainable cities and communities (SDG 11), and on climate action (SDG 13).

Minister of State for Development and Africa, Andrew Mitchell said: The UK is committed to supporting the development and climate-resilience of infrastructure services in African cities. I am pleased to see British International Investment commit to this Fund and we are confident that their involvement will help attract much needed additional funding from the private sector in support of vital, clean and green infrastructure in the region.”

Head of Infrastructure and Climate, BII, Holger Rothenbusch added: ”We are delighted to be an anchor investor in Meridiam’s latest fund and will be supporting Meridiam in its efforts to reach its first close. The Fund will deliver clear benefits to local communities at a time when there has never been a more urgent need to invest in sustainable infrastructure to increase climate resilience. This Fund is a ‘first-of-its-kind’ in the market and will contribute to creating progressive solutions that ensure that citizens benefit from the rapid urbanisation taking place in African cities.”

Partner and Deputy CEO, Meridiam, Mathieu Peller commented: ”We are very pleased with the longstanding support from BII across our various African strategies. BII’s investment in TURF is a key milestone in our partnership to deliver sustainable and impactful infrastructure projects which are needed by cities throughout the continent.  TURF will be essential in addressing the multiple resilience challenges faced by cities, such as climate change, sustainable resource management and social inclusion.”

First City Monument Bank (FCMB) has partnered Brains & Hammers Limited and Brooks Assets & Resources Limited to provide affordable housing for salary earners and the self-employed  in Lagos State.

The partnership, which offers mortgage loans of up to N75 million, will empower FCMB customers and other Nigerians to purchase homes or acquire land in areas of their choice within the state.

 In a statement, the bank said the partnership, Divisional Head, Personal Banking, FCMB, Shamsideen Fashola, said: “Our partnership with Brains & Hammers Limited and Brooks Assets & Resources Limited provides a unique opportunity for our customers to fulfill their dreams of home ownership, easing all the constraints and fears associated with this exciting and self-fulfilling life moment that everyone cherishes.”

Fashola said the loan is easy to obtain and repayment is flexible. He urged Nigerians to take advantage of the offer to fulfill their home ownership dream, assuring them: “FCMB will continue to support the dreams of its customers and Nigerians by giving them the financial support they need to be homeowners when it matters most.”

The Acting Group Chief Operating Officer of Brains & Hammers Limited, Mrs. Christine Fashakin-Nobre said: ‘’Brains & Hammers has an assortment of products in Abuja, Lagos and Kano that can meet the needs of every type of potential homeowner.”

Managing Director, Brooks Assets & Resources Limited, Ms. Lanre Sola, said: “Aside giving Nigerians the opportunity to pay over a long period, the funding will help to reduce the cost of houses because, as a developer, you can now access low-interest loans for construction due to visibility of an exit plan. This intervention will also greatly enhance the modality of the mortgage facility and aid home ownership or property purchase for a lifelong time benefit.’’

The partnerships seek to bridge Nigeria’s home ownership gap, helping customers become landlords, eliminating challenges for first-time buyers, and making them secure, accomplished and fulfilled.

A group, the Inclusion for all Initiative says 54.2 per cent of Nigeria’s unbanked poor prefer saving at home. While the circulation of new notes continues, the old notes will remain in circulation and serve as legal tender until December 31, 2023. Assistant Business Editor COLLINS NWEZE reports on what the ongoing currency reforms of the Central Bank of Nigeria (CBN), including the redesigned naira notes and cash withdrawal limits, mean for the grassroots population.

FIFTY-TWO point two per cent of Nigeria’s unbanked poor prefer to save their money at home or carry it around than depositing the funds in bank, a report by the ‘Inclusion for all Initiative’ has said.

The initiative is an advocacy programme that addresses the barriers that prevent the financial and economic inclusion of Nigeria’s poorest and most vulnerable communities.

The report indicated that more than 50 per cent of this segment of the population could lose their savings if they are unable to exchange old notes for new ones in line with the Central Bank of Nigeria’s (CBN) naira redesign timeline.

Last October 25, the CBN announced plans to redesign the N200, N500 and N1000, with effect from December 15, last year. While circulation of the new notes continues, the old notes will remain in circulation and serve as legal tender until December 31, 2023 courtesy of the Supreme Court order on the apex bank. 

The initiative said conditions for the exchange of old naira notes could affecty impact vulnerable populations.

The group suggests that Nigeria’s most vulnerable groups can be adversely affected by the exchange of old Naira notes for new ones through a bank account.

The Head, Inclusion for all Initiative, Chinasa Collins-Ogbuo, said: “While we commend the Central Bank of Nigeria for its commitment to the digitilisation of Nigeria’s financial services sector, we have to design a policy to ensure that it is suitable for the most vulnerable parts of society.”

According to the 2020 EFInA Access to Finance (A2F) Survey, there are more than 38 million Nigerians without a bank account, and our research indicates that more than 50 per cent of these people prefer to save in cash.

“Unbanked Nigerians face a range of barriers to enter the financial system, from access to identity, a lack of proximity to financial access points and a lack of trust in the system. These barriers must be considered and addressed in the Naira redesign process, if we are to ensure that this process supports financial inclusion, and does not further marginalise the vulnerable communities,” Collins-Ogbuo said.

According to him, the CBN has acknowledged concerns around vulnerable populations, and prioritised banking agents to help those in rural/underserved areas to deposit cash.

“However, agents are concentrated in urban areas – far away from vulnerable populations. With a 20 per cent agent coverage target for the northern regions, the Northeast is only at 6.3 per cent, with Northcentral at 15.5 per cent and Northwest at 12 per cent. Challenges cited include insecurity, distance, lack of electricity, and low profits,” he added. 

Speaking on the Inclusion for podcast on the Naira Redesign, Associate Dean, Lagos Business School, Prof. Yinka David-West, said: “From the supply side, we need to ask, ‘Is this a push or pull initiative?’ I’ll compare the naira redesign to the National Identification Number (NIN) registration, which was a push directive. All that is required is linking the NIN to a SIM and BVN to facilitate bank transactions.

Many Nigerians treasure their phones more than their bank accounts. How can we incorporate seamless banking to fit the lifestyle of Nigerians? Through the naira redesign, the CBN is promoting a cashless system with secure and seamless transactions as a means to facilitate financial inclusion.’’ 

The group also provided recommendations for action to ensure that vulnerable populations participate and secure the  benefits of access to digital financial services.

It said the extension of the period to exchange Naira notes should be seriously considered to enable a rapid and intensified rollout of a sensitisation programme among vulnerable groups, informing them of the process, deadlines and requirements.

An IT professional and Managing Partner, Lifted Technologies,  Tayo Sotade, has said Fintech companies are transforming the way Nigerians  use financial services.

In a report, he said Fintechs have brightened the future of financial services in Nigeria, adding that  our fintech companies have what it takes to continue driving innovation.

“One of the key advantages of a fintech firm is the ability to provide financial services to those who were previously excluded from the traditional banking system. This is, particularly, important in Nigeria, where a large percentage of the population is unbanked.

“Fintech companies such as Paystack, Flutterwave, and Interswitch are making it easier for Nigerians to access digital payments, loans, and other financial services,” he said.

Sotade listed another area of innovation in Fintech as the use of blockchain technology to create secure and transparent financial systems.

“Blockchain enables secure, tamper-proof record-keeping, and this has the potential to revolutionise the way financial transactions are conducted. Nigerian fintech startups such as SureRemit and BuyCoins are using blockchain technology to create innovative solutions that enable fast and secure payments and transfers,” he said.

According to him, Fintech remains the future of financial services in Nigeria.

Sotade added:  “As more Nigerians gain access to digital payments, loans, and other financial services, the economy will become more dynamic and inclusive. With my certifications in project management, network engineering, and cybersecurity, I am excited to be a part of this transformation.

“As an IT professional, I am keenly aware of the importance of keeping financial data safe and secure. Fintech companies are handling sensitive financial data daily, and this data must be protected from cyber threats such as hacking, phishing, and malware attacks..

“At Lifted Technologies, we take cybersecurity very seriously. We invest in the latest security technologies and protocols, and we conduct regular security audits and assessments to ensure that our systems are secure. We educate our clients and customers about cybersecurity best practices, such as using strong passwords and keeping software up to date.

“In addition, our certifications in cybersecurity enable us to stay up to date with the latest trends and best practices in this space. This enables us to build and deploy fintech solutions that are secure and reliable, and that instill confidence in our clients and customers. “

It is well-known that globally, “minority” groups have suffered some of the greatest inhumane treatments in history. From racism to colourism and sexism, these acts have adversely and irreversibly affected millions of people across the world. Of those minorities, women have suffered many iterations of cruelty, and female genital mutilation (FGM) may be said to be the cruellest. 

This ritual cutting or removal of some or all of the external female genitalia is considered a violation of human rights against children as it is mainly performed on girls between infancy and 15 years of age. FGM has risked the lives of over 200 million young women in 30 countries of Africa, according to WHO reports, and Nigeria alone accounts for 10% of global cases. The report identifies Osun state as having the highest prevalence of circumcised women in the country (77 per cent), closely followed by Ebonyi (74 per cent) and Ekiti (72 per cent).

This practice has, over time, been seen to have far-reaching, almost absolute and fatal consequences. These consequences range from complications in childbirth to haemorrhage and death.

In a bid to eradicate this harmful practice, Access Bank partnered with HACEY Health Initiative to commemorate the International Day of Zero Tolerance for FGM. The programme was held across Nigeria’s high prevalence zones — Osun, Oyo, and Ekiti. 

Cumulatively, over 2,000 young girls, CBOs, traditional rulers and policymakers participated and benefitted from the programmes in the three states. In addition, about 500,000 Nigerians were reached virtually with information, education and communication materials.

Furthermore, to ensure impactful and scalable results, traditional leaders, government and community leaders were engaged in dialogue sessions to advocate for the abandonment of FGM practices in their various communities. 

Recently, Access Bank PLC embarked on yet another campaign targeted at ending the practice of this act through knowledge drives. This time, about 1,240 individuals and families benefitted from the information and education on ending FGM in Osun, Oyo, Ekiti and Ebonyi. 

Specifically, eight schools — 2 schools from each of the four states — were targeted, leading to 1,068 students being impacted by the End FGM campaign. Amplifying its impact, Access Bank extended the campaign to religious centres in the four states. As a result, nine religious centres — 3 in Osun State and two religious centres each from Oyo, Ekiti and Ebonyi — were reached, and about 240 people were beneficiaries of the End FGM campaign. 

These efforts have undoubtedly contributed to the fight against Female Genital Mutilation in Africa. However, the war is far from over. Per findings by the United Nations Children Fund (UNICEF), most women in several African countries — including Egypt, Somalia, Gambia and Sierra Leone — believe the practice should be upheld. Therefore, as a global community, we need to amplify efforts to completely eradicate the practice of FGM. 

As the world continues to celebrate women this month, Access Bank’s W Initiative, through the platform of its forthcoming conference, will continue its charge to challenge gender stereotypes, call out discrimination, draw attention to bias, and foster women inclusion. In addition, the conference will provide a platform for women and their male counterparts to learn from vibrant thought leaders about the role we must play towards achieving gender parity by #Embracing Equity from a personal, sectorial and industry-led perspective.

Enterprise-based Coworking outfit, The Adrenalina, has opened an office in Yaba, Lagos with facilities and initiatives targeted at driving the growth of Small and Medium Scale Enterprises (SMEs) in Africa by providing support for young people to create, operate, and grow their businesses.

The facilities include workspaces, conference rooms, virtual assistants, a mini-lounge, a state-of-the-art production studio, and cutting-edge Internet connectivity, provided by Elon Musk’s Starlink.

According to Chief Executive Officer, Chukwuerika Achum,“Africa is the next frontier for economic development, and its teeming youths are the key to the actualisation of a prosperous future. Therefore, we want to enhance the capacity of these young people to create and grow businesses.

”We are seeking to de-risk the process of setting up a business, by taking off the burden of capital requirements such as infrastructure and regulatory requirements. We are also providing financial structuring, helping business to get structured into entities that can access financing.’’

He added that the company has  plans to expand to other cities in Africa.

“We are not just building a business, we are creating an ecosystem that constantly delivers value to our community as well as the public,” said Tejumade Salami, the Head of Business Excellence.

According to Salami, the Adrenalina has rolled out initiatives to educate and entertain. They include events and training, a newsletter, and a periodic podcast called Voltzzzz, which features celebrities from various fields. It can be accessed on digital hosting platforms such as Sound Cloud, and via the social media.

“With Voltzzz, we are creating a social space to contribute positively to trending issues in the society,” said Hilda Edet, Podcast co-host and head of Customer Service Excellence.

“The discussions are not limited to the podcasts because members of our online community are also encouraged to participate. Through this we can receive feedback on our operations,” Edet added.

According to Ayodele Arowosegbe, Marketing Consultant for the outfit, the Adrenalina will serve as an incubator for startups.

“As Africa attempts to emerge as a competitive economic powerhouse, the continent has become a hub for start-ups. The Adrenalina is poised to help facilitate this transformation,” said Arowosegbe.

Investment into the African tech startup ecosystem passed the US$3 billion mark in 2022. According to Statista, Nigeria has the highest number of startups on the continent, numbering over 3,360 in 2022

Wema Bank Plc has opened application entries for its  Hackaholics 4.0, a tech talent discovery and nurturing project among university students.

Announcing this yesterday in Lagos, the bank’s Executive Director, Digital Services,Tunde Mabawonku, “As we redefined experiential banking with ALAT, Hackaholics is at the heart of our innovative project for start ups. We are poised to host the largest campus hackahon this year.

“As we plan the next eight decades of Wema Bank, we need to innovate and help encourage others on how to innovate. We try to get the best and brightest and give the country ideas on  how to transform out organisations to become world class.”

This year’s Hackaholics, which is focusing on building finance beyond technology, will be looking for entries with innovative solutions on how to solve gender violence, promote entertainment, among others.

Mabawonku said  the bank, through the project, would be engaging 10,000 tech entrepreneurs, producing 5,000 solutions, creating six pitch centres and having almost one million foot falls during the campaign.

Also, the bank’s Chief Digital Officer, Mr. Olusegun Adeniyi, said: “We have been driving with the mindset of innovation. We are looking to be an ecosystem of platforms, a hub for fintech and other players.  We are moving to the next phase of digital unbundling.”

The Chief Transformation Officer of the bank, Babatunde Mumini, going down memory lane, said the Hackaholics programme began in 2019 and its scope and teach had since been expanded.

Mumini said the bank has been involved in creating solutions that solve society’s problems, just as it is leveraging the skills of young people to drive innovation.

Wema Bank’s Head of Innovation, Solomon Ayodele, said six universities would be covered this year as against three last year.

They are Babcock University, Lagos State University, University of Abuja. University of Benin, Federal University of Tech, Akure, and University of Lagos. “We would partner with Microsoft garage, AWS for start up (Amazon) and Endeavour Africa in facilitating incubation sessions.

“Application should contain name of solution. Vertical, summary of your solution, competitors, Target customers. Team formation. Capital investment  management and leadership”, Ayodele adde.