The Nation Newspaper

Category: Comments

  • Communicate understanding: A rare christmas gift

    Communicate understanding: A rare christmas gift

    A popular minister of God once said ‘ Understanding is when you go under and stand’. Hmmm..does this make any sense to you? There’s a certain logic in what he said; to go under simply means to sink whereas to stand means to maintain an upright position supported by one’s feet. In other words understanding is a lowly state of mind coming from a position of strength.  No doubt Understanding is a priceless virtue and only the wise enjoys its companionship. Little wonder the good book counsels us “Wisdom is the principal thing; therefore get wisdom and with all thy getting get understanding’’. Real understanding will come to you as you realise the interdependence of study and prayer, also as you maintain a commitment to serve God and humanity. Understanding motivates us to do what is right. Yes, beyond knowing, it empowers you to do what is right no matter the circumstance.

    The forth element of empathy is; communicate understanding. Stephen Covey, in his bestselling book; The 7 habits of highly effective people throws more light on this “ If I were to summarise in one sentence the single most important principle I have learned in the field of interpersonal relations, it would be this; Seek first to understand, then to be understood. This principle is the key to effective interpersonal communication. If you want to interact effectively with me..you first need to listen to me. if you want to be really effective in the habit of interpersonal communication you have to build the skills of empathic listening….’’  Stephen further said that empathic listening is ‘seek first to understand’, that is, listen with the intent to first understand the perspective of the other person before you seek to be understood. I find this instructive. Learn to listen attentively without interrupting people. Also listen to understand not to reply. There is nothing better than a truly empathic friend when you’re feeling sad.

    One of the key lessons I took away from my radio interview on ; Gift Etiquette, with an amazing young lady, Amanda Amusan, an international etiquette consultant was that you’ve got to have good listening skills to be able to discern the best gifts to give your spouse, friends, colleagues, boss etc. Often, people express their needs during conversations and if you listen with the intent to understand them(empathic listening) you will know their needs. Of course, they will be excited when you present them a thoughtful Christmas gift! Thoughtfulness and consideration are key factors in gift giving and these are byproducts of  good understanding. Visit the website: www.Mindscopenaija.com to learn more about –Gift Etiquette. It’s really mind blowing to know that a good understanding of people we live or work with is a necessary virtue for building sustainable careers, families, companies and institutions. I was confounded when I saw my son’s last term’s report card. He got an average grade in his best subject- Mathematics. I couldn’t understand what happened and I had to hold a private meeting with him. Apparently, he understood the reason I called the meeting, so before I opened my mouth, he said “ Mum, please do not be annoyed with me, I had a running stomach during the Mathematics exam and I had to excuse myself to use the toilet.

    When I returned the exam was almost over. I managed to do the best I could within the time I had left’. “Oh I see!’’ I exclaimed “at least it’s not your fault’’. I took some time to educate him on what to do in such situations. A good parent will understand before evaluating or judging. ‘’When you listen with empathy to another person, you give that person psychological air. And after that vital need is met, you can then focus on influencing or problem solving’’…Stephen Covey. Take note, everyone yearns to be listened to…it’s a psychological need so please give it freely and wisely.

    One of the best gifts you can give to someone this Christmas season is a thoughtful gift. Off air, Amanda Amusan, revealed a top secret about gift giving. You don’t have to empty your bank account in purchasing gifts, Christmas hampers…work within your financial budget and in addition to the tangible gifts also consider giving intangible gifts for instance as a lady, you can offer to help babysit your friend’s child maybe for two or three hours as convenient or spend quality time with an old friend. So don’t just give gifts for the sake of showing off, rather give thoughtful gifts that touches and lightens the heart of the recipient.

    Plan to give intangible gifts and you will see that the reward is really fulfilling. As I round up this series on empathy, I must reiterate that we are all products of relationships and we need to increase empathy in all our interactions. Empathy is different from sympathy which involves feeling concern for the pain of another person and a desire to help. Empathy and love are decisions. Just as love is a dedicated affectionate commitment to another person, so also empathy is a dedicated commitment to transforming upset, emotional pain and emptiness into positive and productive engagement in relationships, career, business…What more can I say? Have a merry Christmas and remember to communicate understanding in all you do. A right attitude wins always.

     

     

     

     

  • In the midst of misery, merry Xmas to lovers and looters of Nigeria

    Two thousand years ago in exactly two days time, a new baby was born to the world – to give a new meaning to life and living! He was an unusual kind of baby. Destined to be the Saviour of the world, He assumed several names – Counsellor, Comforter, Redeemer, Prince of Peace, etc. He was Man and was also God at the same time; yet He was not born in the great palaces of the time; He was born in a manger, which was house to animals. He was not born into any of the famous and great families of the time; he was born of a common carpenter.

    But His birth, life and times were symbolic, from whichever angle you want to look at them. Miracle was His name and He did miraculous things in his short life of service, exemplified by self-denial, healing, counselling after which He paid the supreme sacrifice for the redemption of our souls. His uncommon popularity was His undoing and He was given out, as in being betrayed, by His most loved friend – who also paid the price for perfidy and went into such eternal infamy as no one since then would want to have a child to be named Judas Iscariot! This is the world of the Saviour of the world whose birth is to be celebrated all over human habitation as well as the heavenly realm 24 hours from now.

    Nigeria is going through so much turmoil that people of faith will want to use this stupendously joyous occasion to pray for our country to get out of the woods and be rid of all the Judas Iscariots that had for so long held her by the jugular. As an incurable optimist, I want to believe that the God that hears and answers prayers will deliver us all from the pangs of the blood suckers in every sphere of our national life.

    Merry Christmas to all!

  • Growing mall phenomenon and regrets

    Since the debut of The Palms Mall in Oniru, Victoria Island over some ten years ago, the frenzy over the Mall culture has become quite a phenomenon. It has gone wide and wild but how wise?

    The first sets of South African malls were very successful, because they came with inbuilt traffic generators, or foot falls, such as games, film houses. Most especially, the Shoprite chains of retail shops were very, very successful .The success rate was phenomenal. Like most businesses from South Africa in the last 15 years, they all went home reaping bountifully and turned our envious eyes, all into spectators game, safe alone for few local investors who equally smiled to the banks.

    But the feat is yet to be replicated locally, either in neither sales nor duplications but thanks to Senator Ben Murray Bruce’s pioneering efforts and Prince Ebeano who have carved a niche in our neighbourhoods. Nigerians are usually copycats, always imitating in all businesses but hardly original. It was easier for a camel to pass through a needle’s eye than for you to secure a space in The Palms. Shoprite, their major anchor tenant that guaranties foot falls, became so successful that it has become the generic name for shopping malls in Nigeria.

    Mall and shopping complexes are indeed Western culture, introduced to Nigeria from South Africa, which completely changed our traditional shopping cultures from local stores and socialising culture became infectious and profitable.

    The Galleria Mall and Mega Plaza debuted first and they grew very successful overnight and it was contagious, sporadically and steadily growing copycats all over successfully until the bubbles bust lately. The phenomenon crashed but not until every building in Lekki Phase 1 and other neighbourhoods got converted to serve the growing needs of the affluent residences with no shopping spaces in the masterplan now reeling in an economy in the throes of recession. No! It feels more like depression actually, nationwide.

    The South African Malls were built on syndicated foreign funds with very stringent and demanding built in surveys, measures   and due diligent processing with absolutely no room for sentiments but success in retail was a prime ace. We are talking hard earned foreign currency here folks, funds to be repaid with heavy interest loans, which leaves no room for upstarts. The number of rejected applicants for spaces was incredibly very high and the built in safety net for failed enterprises were full-proof and insured. No sentiments!!! If you fail, their built in safety net sends you packing.

    In 2007, I alerted the Lagos State government that, Lekki Phase 1 will outgrow its residential status and that Lekki phase 1 is the new downtown in Lagos State; that it will be serving the Lekki-Epe axis, one of the most rapidly developing construction sites in the world. From Mobil House at Oniru, to Epe, hundreds of developments and estates were springing up in dizzying pace and that it will definitely outgrow hi-streets shopping culture. Lekki is a town, not an estate. In fact, there are several estates inside Lekki Phase 1. A mayoral seat should be in the offing.

    The vision of the construction of Ajah toll road and Ikoyi Link Bridge added to the growing commercial demands; all these conspired to create growth unprecedented. The equation completely changed forever. Great foresight on the part of Lagos State governments, spanning three administrations; Ambode is topping the ante in infrastructures, particularly on boulevards and steady power supply. He is growing and focused on hi-streets and night life is coming back. He has reined in incessant local government harassments and double taxations; that is in the best interests of all stakeholders.

    There are no magic wands in recession times than raw hard processed thinking, let alone in depression as things now appear. Before you venture into shopping malls, be very, very careful. There is a massive glut in spaces to let and letted spaces are in deep recession in the continuously growing mega Lagos State. Don’t be fooled by glittering edifices and Hollywood showcases. Your landlord is no miracle maker, he has bills to pay. There are acute shortages of foot falls in malls these days. An average family can’t make ends meet today. These are the times of bare necessities and not luxury of wants and inconsequential goods and services are waning in our vainglorious society now hung on realty notes.

    Most malls’ in Lekki Phase 1 and more are still being built as of this present moment; not to worry, the state government will reap bountifully tomorrow but should consider tax holidays. Most of such investments are all in limbo. No sales or patronages. Running malls on generator and very high electricity tariffs, taxation and other services creates nothing but enemies in these days of our economy in recession. Nigerians are loathful of service charges culture. This is the worst time to try that new business you are coveting or prayerfully in anticipation of debuting; it could ruin your hard earned money faster than anticipated .The gestation period in mall these days is minimal: three years or more! Leave your enemies out of this reality show. It just doesn’t tally right in this recession sinking our economy deeper in seeming depression, coupled with bad political leadership; we are in for a very long night. It will wipe out your investment like in gambling casinos. Be warned!

    These are the worst of economic times. Don’t be lured by elegant windows and finishes; it’s not a money making alternative you supposed it to be today. Keep and fight on a bad but steady job on hand now, but you are about to set up on borrowed funds. If you know little or nothing about that business, you are an upstart, you are plunging yourself into regrets and your money into waste; capital suicide! No refunds in malls, bills are very high, most are built or retrofitted on borrowed funds, and landlords are under intense pressures too. Besides, most businesses are replicated, thousand times all over Lagos uncensored.

    The growing lounge crazy culture is in now in every nooks and corners of Lekki Phase 1.There used to be in the good old days a novel business created as a traffic generator for my upper-crust furniture business. Headmasters Salon and only few others in Lagos State, you can count on the tips of your fingers. Today there are millions of salons nationwide. No more quick money and quick fixes folks.

    In 1990 when Headmasters Salon debuted on Allen Avenue, Ikeja, haircuts were between N2 and N5 and we debuted at between N10 and N50. A bag of cement was selling then for N2-3. In the first six months, we stabilised at N50/100 for haircuts. A bag of cement sold around, but still steadied at N5 a bag! Now thousands are in the business of beauty salons and haircuts hovering between N500 and N2500; none can buy a bag of cement. Economic hard realities you should know in simple logic. Blame not your landlords; curse not your stars but the economy and your lazy mind projections and wishful thinking.

    The bitter truth and question to ask about these new ventures today: Are you trying to impress your family and friends or venturing into uncharted waters which will drown your savings and borrowed funds in a multiple taxation in government consolidated fund drives, leaving you writhing in pains, debts and regrets? If you failed to plan, you will fail miserably in any mall. Your first intake of tenants might be your last card. Don’t touch that dial; they hardly renew! Caveat emptor! My Xmas presents to all and sundry. Merry Xmas.

     

    • Prince Omisore sent in this piece from Lekki, Lagos.

  • Re: Much ado about proposed Pension Act amendment

    I read with interest the publication with the above title published in The Nation of Monday, September 11, and marveled at why anybody would argue against the proposed amendment of some sections of the Pension Reform Act (PRA) 2014, which is intended to address the plight of retirees.

    One of the proposed amendments of utmost concern to me is the payment of 75% lump sum and the comments credited to the President of Nigeria Union of Pensioners (NUP), Abel Afolayan to wit: “We are aware of the bills seeking to revise certain portions of the PRA 2014. Our position is that it is too early to revise the Act. The PRA 2004 was revised and repealed into PRA 2014 and we believe it should be allowed to run for sometime. When we fully explore the provisions, we can then know the sections that are due for revision”.

    “In the case of the 75% lump sum bill, for instance, we believe that it will not be in the best interest of the retirees. This is because when a retiree is allowed to pull out 75% lump sum from his RSA, the remainder 25% will not be enough to provide monthly or quarterly pension payments and as such will be back to the problem of old age poverty”.

    I wish to ask if it must take a decade to review a section of an Act that is not serving its intended purpose, which should be for the interest of the retirees/pensioners. It is most unfair for the PFAs to be enjoying 75% of pensioners’ funds carting away huge returns on investments for their owners while the pensioners who ought to benefit from the contributory pension scheme suffer with miserable monthly pension amounts.

    Where those who argue against 75% lump sum got it all wrong is that, they believe retirees are far spent and cannot manage any business of their own; therefore they are only good to receive monthly stipends until death speedily come calling.

    Most pensioners were retired in their late 40s or early 50s. They are still very young, active and energetic to fend for themselves and their families, especially as most of their children are still in secondary schools, universities and other tertiary institutions of learning. Experiences garnered by the pensioners over the years of active service when employed in productive capacity would not only add to the country’s Gross Domestic Product (GDP), they will also be employers of labour thereby reducing the level of unemployment in the country.

    Most politicians who occupy positions of leadership and authority as president, governors, senators, House of Representative members, ministers, commissioners, etc. are above 60 years of age; yet they discharge their duties, make important decisions and evolve policies for the good of the society. The retirees should be paid their 75% lump sum so that they can put it to productive use. This will enable them to have substantial and adequate funds free from any cost to commence their businesses and take care of their basic domestic needs which include food, shelter, clothing, school fees for their children, etc.

    We all know that it is impossible for retirees to source funds from any financial institution to establish any business given the unfavorable and stringent lending criteria. So, why keep greater part of a pensioner’s retirement savings, which is designed to kick-start his business with a Pension Fund Administrator (PFA), who will be handing down some miserable amount every month to the retiree in the name of monthly pension, when he can manage his funds and not only better his estate but also become an employer of labour and add to the country’s GDP?

    This injustice is likened to a debtor who deliberately pays his creditor in bits instead of in bulk as appropriate.

    The contributory pension scheme as the name implies is a savings scheme, which ought to be used to commence a new life after retirement. An inactive person with the present miserable pension amount soon dies out of poverty, frustration and misery.

    The fear that payment of 75% lump sum would have ripple effect and cause financial shakeup is unfounded and does not hold water, because the funds would be paid out through the financial institutions (banks) to accounts of retirees held in the commercial banks. The retirees would withdraw the funds from their accounts according to their needs and thus funds are injected into the economy as productive capital for economic activities, which will further galvanize the country’s productive capacity and invariably boost our GDP. Thereafter, the funds would ultimately get back into the financial system in the normal cycle of velocity of money.

    Also, the regular monthly pension contributions from employers and employees of the public and organized private sectors will continue to replenish the pool.

    Pension contributions are warehoused with Pension Funds Custodians, mostly banks from where the funds are invested to yield returns for stakeholders. Pension Fund Administrators should guard against any envisaged effect of divestment from government securities before maturity, by ensuring that the proportion of pension funds invested in treasury bills, certificates and bonds are spread in such tenor intervals as to ensure quick conversion to cash. This will enable the PFA’s to quickly raise adequate funds to accommodate certain ratio of obligation to the pensioners, no matter the quantum without affecting maturity of investments. Acid Test Ratio should be observed by PFAs in their portfolio mix, to eliminate any threat of financial shocks under any circumstances and at all times. In fact, the PFAs should start now to accumulate funds from monthly contributions to meet payment of 75% lump sum before the proposed bills are passed into law.

    PenCom argued that it is trite that lump sum should not be fixed. Rather, what should be implemented is a minimum replacement ratio as monthly pensions. This is said to be 50% of last pay. Is the present 25% lump sum not fixed? Of course it is, as would the 75% when passed into law.

    As a pensioner under the present scheme, I do not receive up to 30% of my last pay as monthly pension.

    Presently, pensioners are witnessing old age poverty, dependency, insecurity and misery. He who is on the ground need not to fear a fall, rather what is uppermost in his/her mind is how to get up. Payment of 75% lump sum is the springboard that will give the pensioner/retiree the leverage to stand up and start all over again.

    Catering for old age therefore includes payment of 75% lump sum, to enable pensioners start a new business life.  Fifty) to 55 years old person is still very active, with a whole lot of experiences garnered during active service years to make success of his/her business with funds from his RSA, which is devoid of any cost of funds or interest element.

    For an individual who earned about N91, 000 as monthly basic salary, excluding other allowances while in active service and at retirement receives approximately N24, 000 as monthly pension, is he not impoverished already? If he/she still has a child in the university, would N24, 000 monthly pensions pay the child’s school fees, feed the family in a month and accommodate other domestic needs?

    Why didn’t the pension scheme operators and regulators deem it fit all these years to ensure that the minimum pension guarantee framework as stipulated in the PRA 2014 was set-up and funded to alleviate the pensioners situation?

    Must this kind of situation arise before such laudable provisions of the act are considered, articulated and put in place by the operators and regulators of the scheme for the benefit of the pensioners?

    It is expected that the Pension Fund Administrators would oppose the proposed bills because they are the ones benefiting from the status-quo. They would rather have 100% of contributions in retirees RSAs and make astronomic returns for their owners every financial year, to the detriment of the pensioners who are paid miserable monthly pensions and denied the opportunity of owning their own businesses due to lack of capital.

    For foreign investors to have invested heavily in some major PFAs is an indication of high rate of returns on investment for operators of the PFAs, all to the disadvantage of the pensioners who are condemned to old age poverty and consequent death by the status quo.

    What needs to be done is to prepare would be retirees for life after retirement, by organizing workshops and seminars where they would learn trades, acquire skills and managerial capabilities that would set them on the part of entrepreneurship to own their own businesses. One to two months should be dedicated to this training before retirement, to adequately prepare and equip the retirees with the proper mindset to succeed in any chosen field of endeavor as entrepreneurs. The Industrial Training Fund (ITF) should pay attention in this direction and collaborate with government departments, agencies, ministries and private sector organizations to achieve the desired results in this regard.

    The federal government is constantly seeking avenues to raise funds for our SMEs at single digit interest. This problem would be solved to a greater extent with payment of 75% lump sum, which is free from any cost of funds.

    On the other bill seeking to open at least one branch in each geo-political zone, to make it easy for pensioners to access their PFAs, it is a welcome development. This will bring the services closer to retirees who have limited funds to embark on several fruitless trips in pursuit of their entitlements.

     

    • Obi writes from Umueze Village, Aguata Local Government Area, Anambra State.

  • History as Farouq ascends Katagum throne

    ‘The joy of a dying father is the presence of a worthy successor’…late Dan Masanin Kano, Yusuf Maitama Sule.

    History was made last Friday, December 15, in Katagum emirate of Bauchi State in particular. The 12th emir was appointed. It was classic. History beckoned. Governor M.A Abubakar, the advocate and respecter of popular will, hearkened and Emir Baba Umar Farouq, the kingmaker’s choice, was appointed.

    Stripped bare, history is no more than yesterday’s events related today. The past is more or less, the action or inaction of men and women of power who defined or shaped   the occurrences of that era. Still, history is no more than ordinary mortals doing extraordinary feats, of individuals who rocked the boat for good or bad, and often changed the course of history. Examples abound.

    Webster dictionary defines history thus “the study of past events, particularly in human affairs.’’

    The present is the net result of yesterday’s incidences. And so it was with the selection and eventual appointment of Alhaji Baba Umar Katagum. He was a prince, actually the Crown Prince, destined for the throne of his forebears.

    Years before the passage of the patriarch and titan that was the 11th emir, the late Alhaji Muhammad Kabir Umar on December 9, it was manifest that Baba Umar Farouq’s majestic walk to the throne was unstoppable. He had an edge over the others. First he was the eldest of all the siblings. He was also the district head of Shira. In the traditions of Katagum emirate, the occupant of the throne of Shira is more or less, the “king-in-waiting”. Once on that throne, he assumes the status of the “heir apparent”.  Unless due to some unforeseen circumstances, he is destined for the royal plum when a vacuum is created. It ceases to be an “if” and becomes a “when’’.

    As district head of Shira, one is groomed to eventually succeed his forebear. For years, the late emir, the colossus that was Alhaji Muhammad Umar Kabir who breathed his last on Saturday, was personally mentoring Farouq, the new emir.

    The late emir was indeed, a goliath. A rare breed. An icon of statecraft. An old school that schooled the new school. He was actually a bridge between the two schools. An oasis in a desert. Sojourners questing for knowledge of the here and the hereafter naturally berthed at this oasis to drink from the fountain.

    He walked side by side, with the venerated Ahmadu Bello, the first and only Premier of Northern region.

    An embodiment of humility. His life trajectory at once engenders awe and respect.

    Wikipedia, the free encyclopedia, details his earthly sojourn as follows: Born in 1934 and received his education at the Bauchi Middle School between 1948 and 1949 after which he went to the then Clerical Training College now Ahmadu Bello University (ABU), Zaria where he studied local government administration between 1950 and 1951. He later proceeded to UK for another course in local government administration.

    He also attended many courses and seminars within and outside Nigeria all in local government administration. Before his selection as the Emir, he had held various offices as Native Authority scribe at the Central Office in Azare in 1949 and then appointed as the District Head of Sakwa between 1952 and 1957 then he became the District head of Katagum in 1955 and in 1966 he was the NA Councilor for Natural Resources and from there he was moved to Shira as the District Head. He was also Minister of State, Premier’s Office, Kaduna (1957 – 1960), Minister of Internal Affairs, Northern Nigeria (1960 – 1966); he had earlier been elected into the Northern House of Assembly (1952-1966) during which he was appointed parliamentary secretary, Ministry of Land and Survey in 1957.Between 1976 and 1978 he was the chairman of Bauchi State Housing Corporation. In the same year, he was appointed chairman of Bauchi State Development Board, chairman, Board of the Governing Council of College of Islamic Legal Studies, Misau (1986 – 2001). He was also at different times, the pro-chancellor, Provisional Council of Federal University of Technology, Yola; chancellor, University of Agriculture, Abeokuta and chancellor, University of Calabar.

    As with all history makers, his death at the ripe age of 89, caused shock waves beyond Katagum emirate. Tears flowed in torrents. It created a vacuum difficult to fill. This is more against the backdrop of the 37 years he spent on the throne. But not to worry. A worthy successor was at hand – Alhaji Baba Umar Farouq, the district head of Shira.

    Even before he was appointed officially, the social media was awash with the news of his ascension. I was inundated with calls. Each sought to confirm if the rumour was true. Some of the mongers spoke with authority. They cited tradition to back up their argument. The late emir ascended the throne nearly 40 years ago after being district head of Shira. The eventual successor too, is eminently qualified and prepared for the job at hand. He is the oldest male of the children of the departed monarch.  He is a retired federal permanent secretary. He is the choice of the kingmakers. Except for two contenders, all his siblings rooted for him.

    The kingmakers presented three names to the government as required by law. History beckoned. Governor Abubakar did the needful. He lived up to his reputation of doing the right thing at the right time. He hearkens to history and affirmed the choice of the kingmakers. And their Baba Umar Farouq was announced as 12th emir. History again, has been made!

     

    • Ali is an aide to Bauchi governor.
  • Innoson, GTB Feud: The Untold Stories

    Innoson, GTB Feud: The Untold Stories

    Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC(Released).  Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank.

    The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

    GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”.

    This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

    The obvious:

    Innoson is, and still remains, a customer of GTBank.

    What we discovered:

    1. GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).
    2. Under the loan terms agreed by Dr. Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods.  Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.
    3. Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.

    What we learnt:

    1. Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.
    2. It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.
    3. The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.
    4. The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah,   Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port.  The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.
    5. When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.

    What we heard from the Police:

    1. Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum of N1,654,481,895.04 (one billion, six hundred and fifty four million, four hundred and eighty one thousand, eight hundred and ninety five Naira, four Kobo) as at September 26, 2012.
    2. Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank.  However, Innoson defaulted in making the agreed payments.  Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.

     

    1. The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma;Charles Chukwuma;Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.

    What Innoson did:

    1. Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.

     

    1. Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him

     

    1. Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.

     

    1. To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.

     

    What GTBank is not saying:

    1. In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.

     

    1. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

     

    What we think:

    Innoson and GTBank should resolve the issues privately.

  • Dogara: Speaker’s golden steps!

    “Ogene, where are you?” The voice at the other end inquired, betraying an admixture of anxiety, disappointment and uncertainty. The day was Saturday, June 6, 2015, only three fleeting days before the inauguration of the 8th Assembly of Nigeria’s House of Representatives.

    Aware of the testy times, I had in quick reply stated that I was at home. The response from the caller was both a request and a command: “Please, come over to Bolingo!”

    I knew intuitively that something was amiss. For Hon. Yakubu Dogara (as he then was), to speak in such manner, shorn of the usual mirth that accompanied his calls, only meant one thing: our project had probably run into stormy seas.

    Indeed, from the day the nucleus of what was to become “The Consolidation Group” was birthed immediately after the March, 2015 National Assembly elections, it was a daily struggle for self-assertion  by those who felt that they ought to be allowed to choose their leaders, as against others who leaned on the status quo to foist one on the institution.

    As a matter of fact, that was exactly what the incoming All Progressives Congress (APC) sought to do on that memorable day, when it summoned all members elected on its platform to a shadowy session, with the intent of abridging the constitutionally guaranteed rights of members to elect their leaders. This fact, so vividly captured in Section 50(1)(b) of the 1999 Constitution of Nigeria, as amended, to wit: “There shall be a Speaker and a Deputy Speaker of the House of Representatives, who shall be elected by the members of that House from among themselves”, although this has over the years been notoriously observed more in breach.

    Upon arrival at Bolingo, located in the central area of Abuja, I was greeted with the forlorn faces of about six members who had made it back from the International Conference Centre (ICC) venue of the supposed straw poll.

    As head of the campaign organisation’s media unit, the situation demanded all of my attention, and maybe expertise. Having failed to rally the party behind our quest, all we probably had left was the media – and of course, the continued support of members of the opposition People’s Democratic Party (PDP).

    But instead of proffering the expected media solution to the seeming logjam, I went for the political.

    With my erstwhile boss, the amiable Hon. Zakari Mohammed in tow, I demanded that we hold a quick strategy session with Dogara in one of the adjoining rooms. The three of us had barely sat down when I let out what I considered as the surest bet to us having a fighting chance to clinch the speakership.

    “Your Excellency”, I began, in a rather subdued tone, “ I think that our only way out now is to formally offer the Deputy Speaker position to the PDP”.

    Momentary silence descended upon the room, as I watched Dogara close his eyes in contemplative reflection.

    After a spell of two minutes, which seemed more like two hours, he began to utter the words which would eventually define his essence as a selfless leader: “Ogene, I thank you for your suggestion. These are times that test the faith of men. We have all come a long way. How do we explain it to Lasun (our candidate for deputy speaker)? I think we should leave the PDP with the chairmanship positions we’ve ceded to them, and put our trust in God”, Hon. Dogara stated.

    An Igbo proverb aptly captured my predicament thus: “it is out of sync for someone, whose mother passed on to be crying, ‘ewo ewo’ whilst a sympathiser will be bellowing, ‘mama oh, mama oh’.

    Perhaps, another way of saying that one can’t cry more than the bereaved!

    Instructively, between the trio of Dogara, Mohammed and myself, we were well aware that the situation which confronted us, was exactly what was to play out in the Senate in three days. For Dogara, therefore, to labour climbing over the fence, when there is, seemingly, a manhole through which he could so easily pass, speaks volume about his strength of character, fidelity to group cause, and unwavering faith in the creator of the universe as the author of destinies.

    With my belief in him as a trusted leader reinforced, I had immediately afterwards plunged onto the task at hand, deploying both sentiments and propaganda to churn out the statement which the team published on the eve of the election for speakership. As it turned out, the giant fingers of God was evident in the outcome, as Dogara won by a slim margin of eight votes.

    Since mounting the saddle, in addition to having held the House together in admirable fashion, Speaker Dogara has gone ahead to prove that he is a consummate lawmaker, a tactful diplomat, as well as a compassionate and humane leader; above all, a lover of his people and defender of their interest.

    All these are evident in his people-oriented and level-headed leadership style in the House, which has continued to endear him to the hearts of many beyond his political fold. For instance, his concern for the welfare of the downtrodden shone brightly few days ago when he hosted a charity football match in Abuja, to raise funds for Internally Displaced Persons (IDPs), as part of his 50th birthday celebration.

    “As I clock 50, what is uppermost to me really is not longevity, I want to see how well I have invested the 50 years that God has given me. You know, when you are alive, you can choose to invest in yourself, or in others. I think honour is when you serve others, that is why I want to commit all we generate in the course of this celebration to address the plight of these wonderful people who are trapped by a crises they did not originate, don’t know how it began; most of them are just unfortunate victims of this crisis. There is nothing we can do that can either be too big or too little if it is being invested in order to raise people from the ashes to be able to fulfil their God-given destinies,” Speaker Dogara enthused.

    This, essentially, is the worldview of a Dogara who colleagues, friends, associates and subordinates have come to respect as a model.

    But even months before this charity gesture, Speaker Dogara had written his name in gold in the hearts of the entire people of the terrorism ravaged north-eastern part of the nation, by doggedly showcasing excellent representation of their well-being.

    Apart from his legacy projects which cuts across the zone and his skills acquisition scheme that ensures that youths of his constituency and beyond are lifted from the harsh desert of unemployment, his greatest gift to the zone, perhaps, is the North East Development Commission (NEDC), which he brought about through a bill he sponsored and pursued with zest, passion and commitment, until it was signed into law by President Mohammed Buhari few months ago.

    Being able to galvanise his colleagues at the National Assembly to pull through such a sensitive bill at a time when unity and national cohesion are sadly on the decline  says a lot  about Dogara  as not only a man of the people, but also an experienced legislator and shrewd negotiator.

    This singular act of commitment to the well-being of his people and the development of their devastated land raises a fountain of hope regarding the rebuilding of the area from the ruins foisted on it by the debilitating impact of insurgency.

    Overall, going by his strides in leadership, it does appear as though “leadership blood” flows deep in Dogara’s veins.  For instance, his forebear in politics, the late Alhaji Abubakar Tafawa Balewa, first Prime Minister of Nigeria, hailed from the same Bogoro/Dass/Tafawa Balewa federal constituency, that Dogara proudly represents today.

    Under his leadership of the 8th Assembly, he had stated in a mid-term report thus: “In terms of the core mandate of law-making, we have remained a bastion of legislative activism. Indeed, members of the 8th House Representatives are in keen competition with one another in fashioning out legislative solutions to myriad of problems facing the nation. That is why in all facets of law-making, we can comfortably and conveniently assert that we have broken all records.”

    Indeed, despite  the huge volume of  bills presented and treated so far, and the number of other legislative activities and interventions on national issues, a grateful nation can only  wish Rt. Hon. Yakubu Dogara 50 hearty cheers (as he turns 50 on Tuesday, December 26) and more grace, wisdom and candour in the continuing service of the fatherland.

     

    *Hon. Ogene, was deputy chairman, media & public affairs in the House of Representatives, Abuja, (2011-2015).

  • Anambra Central: Has a Daniel come to judgement?

    You have to read The Merchant of Venice to underscore the import of that cry – A Daniel come to judgement by Shylock the main character in William Shakespeare’s yet epochal classic, and how it could be the final refrain in the Anambra Central Senatorial zone seat, which has been vacant for about two years, owing to several court disputes. The summary: Shylock, was a rich Jewish money lender in Venice. He made cut-throat deals and practically squeezed the anatomy of his victims for maximum effects. Antonio, a rich merchant in the same city, who was the direct opposite, opposed Shylock’s Semitic ways, thus attracting a bitter hatred of the Jew.

    Now, the plot thickened when Antonio had to rush to Shylock to raise a loan for a friend, Bassanio, who needed money to court a Venetian princess, Portia. Shylock seeing this as an opportunity to deal with his arch-enemy, made a deal to slice a pound of flesh of Antonio in the event of a default. Taking it as a joke, without knowing the real intention, Antonio agreed, as he was sure that his ships at sea, carrying his merchandise would have returned on time with more than enough to repay the loan.

    Unfortunately, his ships wrecked forcing him to default. Bassanio, who learnt of the calamity, had to abandon his mission half-way, but missed the deadline for the repayment of the loan on return. That practically put the life of Antonio in Shylock’s hands and he would have nothing in place of it.

    So, the drama began in the court in Venice. All pleas to Shylock for mercy, including offer of 10 times the bond value, even from the Duke, who presided over the matter, but could not intervene to reverse the terms because he was bound to obey the law, failed.

    Implacable, pitiless and determined, he needed nothing more than what the bond provided. By my soul I swear, there is no power in the tongue of man to alter me. I stay with my bond,” were his words to underscore his resolve. So, why waste time?

    Then Portia, who invariably, was the cause and source of the entire sad episode, and who later came in disguising as a man and the judge to execute the bond, in another powerful speech aimed at saving the situation, reminded the Jew that mercy was even mightier than the power of life and death of a king. But it cut no. “My deeds upon my head! I crave the law, the penalty and forfeit of my bond,” Shylock insisted.

    Bassanio, had even attempted to get Portia bend the law a little to save his friend. “To do a great right, do a little wrong. But she would have none of it.

    No power in Venice can alter a decree, lest it be recorded as a precedent, with which many errors would be committed in future against the state, she argued.

    Hearing this, Shylock cried in reference to the biblical Daniel’s penchant to give sound judgements: “A Daniel come to judgment! yea, a Daniel! O wise young judge, how I do honour thee!

    Thoroughly sated, he made with his well-sharpened knife for Antonio, only to be halted: “Tarry a little. There is something else. This bond doth give thee here no jot of blood. The words expressly are ‘a pound of flesh.’ Take then thy bond, take thou thy pound of flesh. But, in cutting it. If thou dost shed one drop of Christian blood, thy land and goods are by the laws of Venice, confiscate unto the state of Venice.” That did it.

    Now, does this equate to the situation under reference? To a large extent, I think so. I don’t want to state how Chief Victor Umeh’s penchant for going for the maximum benefits of any political situation, including the story behind his ascendancy to the office of the national chairman of the All Progressives Grand Alliance (APGA), from a mere treasurer of the party and the use to which he put that office, depicts him as a political Shylock per se.

    That is the story for another day. Besides, there are a number of persons, from Chief Chekwas Okorie, founder and first national chairman, former Governor of Central Bank of Nigeria (CBN), Prof. Chukwuma Soludo, oil magnate, Chief Ifeanyi Uba to tell it better.

    But, like Shylock flaunted his bond before the court in Venice, insisting that only its full interpretation and implementation would satisfy both the law and his own personal quest, Umeh, has similarly told any willing listener that the verdict of the Court of Appeal in Enugu, which sacked Iyom Uche Ekwunife as the senator representing Anambra Central Senatorial seat, was an open and shut case and invariably, the end of the matter.

    Not only was Ekwunife removed in a judgement a lot of people, including some sound legal minds found both curious and outlandish, but the appellate court, went further to bar the People’s Democratic Party (PDP), from participating in the rerun election it subsequently ordered, in a manner that would have made his going to the upper legislative chambers of the National Assembly, a fait accompli, since there is hardly any other party capable of challenging him.

    Let me confess, boldly that I’m one of those who feel that there is something wrong with the document Umeh is flaunting, even if not legally, as it seemed in the case of Shylock, but morally and thus, he should not be the beneficiary of this situation.

    For instance, I feel that Ekwunife, who during her short stay at the Senate, captured the chairmanship of one of the most powerful and prestigious offices in the red chamber – Petroleum Upstream, would have given a better representation than Umeh, given his uninspiring record in the APGA top job, where he practically crashed the fortune of the party, which under Okorie, was already making waves in far-flung parts of the country, to a one-state affair.

    Beyond that I appreciate the reasoning of many, who insist that the appellate court judges nullifying the election because Umeh complained that the PDP did not hold a valid primaries to pick its candidate as akin to an uncle demanding that a marriage should be nullified before a priest because the bride price was not paid in the presence of the bride’s father. What else qualified more to a meddlesome interloper and a busybody?

    It is in this context that I find it not too difficult to align with those who believe that the recent judgement obtained by Dr. Obiora Okonkwo, one of the aspirants to the senatorial seat as a Daniel coming to judgement.

    Every politically conscious Nigerian has seen the powers of pre-election matters. We have seen how cases concluded even by Supreme Court and beneficiaries enjoying the fruits were practically uprooted by the effects of such matters on conclusion. Starting from Rotimi Amaechi, former governor of Rivers State, to Okezie Ikpeazu who was only saved by the skin of his teeth to Herman Hembe and a surfeit of other cases, the force of pre-election matters are quite evident.

    Surprisingly, Umeh, who was insisting a few days ago on AIT that the latest judgement amounted to nothing because the Court of Appeal had given him judgement which was superior to that Justice John Tsoho of the Abuja Federal High Court, cited the injustice done to Okonkwo in the processes he filed in court. Today, he is recanting. Phew!

    It was surprising that neither he nor his interviewer made any reference to it in his AIT outing. He is presently insisting that the January 13, 2018 date set for rerun must hold. Of course nobody needed be told the reason for his haste, just like Shylock in the Venetian court. He believes he holds the aces, once there is an election and his road to Abuja is clear. But he forgets the law is an ass. Let us see how it will turn out this time.

    Let us see how the Independent National Electoral Commission (INEC), which Okonkwo has approached with Tsoho’s orders to issue him with certificate of returns, will discountenance that in preference for Umeh’s desired rerun, at least, without another court’s pronouncement. Let’s see if that will not amount to cutting the flesh without spilling the blood. Let’s see another Umeh magic.

     

    • Igboanugo, a journalist writes from Lagos.

  • Beyond the hijab controversy

    The decision of the authorities of the Nigerian Law School to prevent Firdaus Amasa from being called to the bar due to her mode of dressing has generated a media circus. Following the trend of debates on the issue, it is obvious that the element of religiosity involved in the matter largely incited the frenetic debates that followed. Unfortunately, religion being the delicate concept it is in human society, the debate is descending into contention between secularists and sympathisers of a particular religious sect. Yet, the Firdaus’ experience could have presented us with a platform to critically review certain faulty principles in our legal education and jurisprudential system.

    That we are having this debate at all reflects the deeply rooted legal or jurisprudential conservatism that Nigeria shares with other former European colonies. Legal practitioners in Nigeria perhaps believe that their uniform – the flowing robe and horsehair wigs – set them aside from other professionals, just as a doctor’s white coat distinguishes him or her. What is not considered is that some of these mystified legal cultures are legacies of colonialism, outmoded and long discarded in the nations of their origin.

    Eighty-six days before this year’s call to bar ceremony was held, an opinion was published in the Washington Post, with the brazen title “It’s been 50 years since Britain left. Why are so many African judges still wearing wigs?”

    The author of the piece claimed correctly that “(t)he British gave up their last colonies in Africa half a century ago. But they left their wigs behind… Not just any wigs. They are the long, white, horsehair locks worn by high court judges (and King George III). They are so old-fashioned and so uncomfortable, that even the British barristers have stopped wearing them”. Some cultures peculiar to the legal profession in Nigeria are just unfathomable why they still exist despite their apparent inconvenience and contradictions to our environment. Imagine the harmattan heat and a lawyer dressed in that suffocating contraption of a robe making submissions in a typically congested Nigerian courtroom; it’d be a lot more convenient if the official dress-code has taken comfortability of the legal practitioners into consideration. If formal dressing alone (as its the culture among legal practitioners in America for example) is what it takes to appear as an advocate in a courtroom, the drama over the Firdaus’ hijab would have been avoided – because hijab being a sort of sacrosanct identity peculiar to a sect in society would have raised no fuss when combined with other forms of formal clothing.

    The Nigeria legal system is not only conservative; it is elitist. More and more the system is programmed to inculcate in lawyers a mechanical adherence to elitist practices that are dangerous to progressive evolution of law. For example, at the Obafemi Awolowo University, Ile-Ife, it is a norm that radical law students (especially the student activists among them) who question unfavourable policies of the university authorities risk being delayed from progressing to the law school if they receive as much as a query from the management that require them to explain why the unfavourable policies of the management is being challenged. In the policy of the law school, prospective candidates are supposed to be well-behaved, and challenging authorities over clearly oppressive policies happens to fall under the scope of “bad behaviour”; and tools such as “query”, “suspension” and other forms of “legal” instruments of political victimisation employed by universities’ authorities form an incontrovertible criteria for authorities of the Nigerian Law School to automatically designate candidates as badly behaved. It could be opined that the Nigerian Law School has been making this grave mistake, which has continuously threatened civil and democratic rights (especially the freedom to speak against perceived injustice), only because of her unwitting trust in authorities of tertiary institutions. But the school has its own similar culture of repression of democratic rights. It is in fact considered sacrilegious to protest any policy in the law school; and the school has a standing policy that exempts students with background in Students’ Unionism from standing in elections usually conducted to elect student representatives. Some law schools, in line with prevailing Nigerian standard of party democracy, have a virile zoning system that is more effective than among mainstream political parties in Nigeria – this is because an attempt to challenge the law school’s zoning arrangement holds the prospect of termination of studentship which students do not wish for.

    The implication of the clearly undemocratic practices in the Nigerian Law School forebodes a dangerous uncritical attitude among lawyers to jurisprudence, and a zombie-like loyalty to an imperfect status quo. If our lawyers are nourished on the values of uncritical, unquestioning submission to every rule, whether justified or crooked, then the chances of our laws evolving progressively from the sort of expert evaluation they ought to offer society is pathetically low. It gets to a point, which is feared we already are, that the border between secularity and religiosity becomes blurred. This becomes the case when the custodians of our laws and jurisprudence approach law with the same unquestioning fervour that a faithful gives the doctrines of his faith. If anything should be assured in society, it is the freedom of intellection and expression; and if that is denied, we are all at the risk of remaining on the same spot due to the fact that it is not allowed to think radically or to challenge the wrong prejudices, sometimes called legislation, of a few powerful elites forced on society by different manipulative methods, including our popular rigged electoral system.

    The Firdaus’ case is not about religion; it is about a lady challenging a contradictory status quo. Considering the deep contradictions in the legal practices in Nigeria, this debate should ordinarily open a Pandora’s Box for every authority connected with legal education in Nigeria. The fact that most of our laws and codes are cloned after the British system, without the consideration that we could have better laws crafted in the image of our country, makes it important for us to cultivate critical, radical minded law students. Our law schools and education institutions should be humble enough to allow criticality!

     

    • Olubanji writes from Ado-Ekiti.
  • ‘Why Real Estate Developers Should Embrace Smart-City Technologies’

    ‘Why Real Estate Developers Should Embrace Smart-City Technologies’

    It is quite clear that technological advancement has greatly influenced the subsistence and survival of man in all facets of life. Its impact appears so vast in some areas of life such as construction, manufacturing, finance and communication, amongst others. With regards to construction, the real estate industry in Nigeria is currently witnessing a cyclical change, as developers begin to fully grasp the benefits and comparative advantages of technological real estate innovations, in terms of attractiveness of their properties to prospective buyers.

    The advent of smart buildings technology is one of such innovations that has become the deciding factor in identifying prime real estate as customers are actively seeking new experiences in their purchase and consumption of real estate. To enable new customer experiences, accelerate workforce innovation and introduce innovative business models, companies are digitizing their business operations and buildings – be it a retail store, a factory floor, a healthcare or an educational institution or your very own workplace – are central to this digital transformation.

    Building owners are looking at technology convergence to deliver enhanced occupant experiences and improved efficiencies in their buildings. However, as the number of networks and connections within buildings grow, they are becoming increasingly complex. Interconnecting and interoperating isolated building systems such as lighting, HVAC, badging systems, security, CCTV, sensors and audio-video equipment, into a single converged system is fundamental to the digital transformation of buildings. Today’s building systems and equipment need to work together smoothly and efficiently to meet owners’ and occupants’ needs, which requires a holistic approach of integrating new technologies.

    Cisco has the leading footprint in network innovation, the Cisco Catalyst Digital Building Series switch is a big step towards a robust foundation for the next-generation digital buildings. This is the industry’s first purpose-built switch optimized for low voltage PoE deployments, IoT connectivity and building automation in smart buildings. Digital Building Series switches will greatly simplify the deployment experience with integrated security and lower total cost of ownership. Other developers in Nigeria have also leveraged of the attractiveness of smart city technology to ensure that its structures are equipped with start of the art innovative technology that ensures efficient communication between all devices within the city. But the question here is do consumers fully understand the value and benefits of smart city technology.

    A building isn’t connected unless the people inside are. Smart buildings can be outfitted with high-speed internet and voice over internet protocol services. Since businesses increasingly rely on the internet, an increase in speed could mean an increase in production and revenue. Smart buildings are designed to constantly gather data and monitor themselves for problems in the structure’s facilities. These technological advancements are made possible by companies which constantly push the boundaries of innovations, Cisco is one of such organization.

    The vision of smart city offered by Cisco is of an integrated urban information and communication technology (ICT) overlay on a city that can support delivery of connected urban services and allow for efficient management of those services on a global scale. Cisco helps cities gather, share, understand and act on data from and with other agencies, from and with city residents and visitors, and from and with business and social organizations. So, for example, if an elevator breaks down, the building could find the problem, self-diagnose and communicate with the appropriate organization to get it fixed. Smart buildings can also monitor system performance to increase energy savings. Overseeing these processes could decrease complaints about inefficient or failed facilities, reducing time spent addressing potential problems. Smart buildings are expected to save money in more ways than one might think.

    Cisco

    It is quite clear that smart cities significantly reduce energy and operating costs, but there are a number of expected not-so-obvious benefits gained from implementing a smart building system. It is becoming increasingly important for people to feel safe at the workplace, and smart buildings can help in those efforts. Take, for example, a situation in which a fire alarm goes off. With Cisco’s Smart+Connected Communities, a smart building can detect smoke, tell occupants to evacuate the building, contact the correct authorities and prepare the structure for minimizing the spread of risk. Security also is an important issue, and the deployment of cameras and the ability to stream footage from a surveillance camera to a laptop can increase safety and provide peace of mind to tenants.

    By leveraging the Internet of Things, cities can integrate people, processes, data and things to create safe and vital places to live, work, learn and play. Partnering for Innovation and Success Cisco’s engagement in smart-city issues is championed by the Smart+Connected Communities (S+CC) initiative under the Cisco Industry Solutions group. Working closely with the Internet of Things group, the Services Platform Group and other departments within Cisco, S+CC is developing a growing portfolio of city-oriented solutions

    These solutions provided by intelligent buildings could give a boost to a building owner’s return on investment while providing occupants with an intelligent work and home environment Smart buildings are set to adapt to the way people live. They have control of heating, ventilation, air conditioning and lighting, learning the schedules of those who operate these systems in order to optimize comfort.

    Early adapters of smart building technology are embarking on a journey that will lead to increased economic benefits, sustainability, and positive occupant experience outcomes. This is equivalent to incremental change driven by simplistic short-term returns. Crossing the chasm into a truly intelligent built environment will require a roadmap, supported by not only facility managers but also, real estate developers, and all key influencers in the digital transformation of real estate. The future of intelligent buildings is experiential — and real estate developers who embrace the intelligent building roadmap process will gain a competitive advantage.

    By: Olakunle Oloruntimehin; Cisco General Manager for Nigeria.