The Nation Newspaper

Tag: Nigerian

  • Nigerian appointed into accounting board

    An indigene of Cross River State, Mr. Christopher Nyong, has been appointed into the International Public Sector Accounting Standards Board by the International Federation of Accountants (IFAC),  with headquarters in New York, United States.

    This makes him the first Nigerian and third African to be appointed, after a South African and a Kenyan, to the prestigious board.

    In a letter by IFAC’s Chief Executive Officer Fayez Choudhury, dated September 20, Nyong was honoured for his “support of the independent standard-setting boards”.

    IFAC is the profession’s global organisation dedicated to the public interest by contributing to the development of strong international economies.

    It comprises 175 members and associates in more than 130 countries and jurisdictions.

    Nyong, a Certified Fraud Examiner (CFE), is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).

    Nyong, the auditor general of Cross River State, is a member of the Federation Account Allocation Committee (FAAC) Sub-committee on Implementation of International Public Sector Accounting Standards in Nigeria.

  • Afro Model Awards: UK searches for Nigerian models

    NIGERIAN models and designers desirous of raising their game and taking it global may have that opportunity on their laps already as organisers of Afro Model Awards, UK beam their search light on African talents.

    Established in 2011 by three partners, Afro Model Awards seeks to recognise, acknowledge and reward excellence of models, agencies, personalities, designers, and innovators throughout the fashion and style industry.

    Although the event features a lot of white and mixed race from countries like Barbados, Jamaica, among others, the award is expanding to feature more African talents. According to co-founder, James Durodayo Jegede, who is of Nigerian/Jamaican origin, the award is specifically created for black talents.

    “We created it to suit the black anatomy with categories like Best Behind which is one of the most talked-about in Afro Model Awards. The process is transparent and can be followed on www.afromodelawards.com. Our winners have leveraged on the fame from the Afro Model platform for international breakthrough appearing in videos for renowned pop stars like Nicki Minaj,” he explained.

  • A lot of Nigerian women wear WRONG bra sizes

    EX-COMMITTEE member of the Nigeria Economic Summit, Seun Balogun, and her husband, Ayo Tayo-Balogun, retail underwear through a popular online store known as Brief Essentials. It was not exactly a line of duty for the couple who were into paid employment until “one day,” in the words of Seun, “I was looking for underwear and lingerie for myself as a mum, and then we found that there was really no major store that focuses on varieties of underwear. We found some at a few places, but they were too expensive. The ones that were not expensive were not of the kind of quality we wanted.”

    For her, therefore, the need for quality and affordable underwear became a challenge that gingered her entrepreneurial spirit. “We went online for additional search but didn’t see where one could really buy lingerie. At that time, we knew that online business was kicking off in Nigeria. That was around 2010. There were stores that closed up, like Kalahari Books Online, and there was Sabunta (now Jumia). So it became something we wanted to do and make a difference in the online sphere. We realised that we could do it because to some extent, we are technology people. That led us to establish Brief Essentials.”

    Asked how she and her husband arrived at the corporate name, Seun said: “We deliberated on the name to call the business until my husband suggested Brief Essentials one morning. It made a lot of sense because the name represented what we wanted to do.”

    Although initially Seun went out looking for underwear for herself and control undergarments that could help her get back her pre-pregnancy shape, she ended up selling underwear to everybody.

    She said: “Our first online sale was in April 2011. So we are five years on now. And we do not just sell underwear, shapewear and breathtaking lingerie for mums, we have something for everybody.”

    So how has the couple fared after five years in lingerie business?

    “It has been good,” retorted Seun. “There have been challenges, but generally, it has been very promising. Nigeria’s e-commerce space is still growing. A lot of education is required to get more people to buy online. But again, what we have seen is that when people are actually shown how to buy online, they find it more convenient to do so. So sometimes, it is about knowledge too and we do share that as well, especially with our customers.

    “We take out time to educate our potential customers on how to buy online by simply clicking and shopping directly on the website. We also educate them about their sizes and what’s suitable for their shape and pain areas. For instance, from our experience, a whole lot of Nigerians wear the wrong bra size, and our aim is to correct that. Every female out there deserves a beautiful pair. Issues with wrong bra size could range from a band that is riding up or a cup that is too big or too small. We do this lingerie education on our social media platforms and all available avenues that can be harnessed. From how to choose the right bra, how to wear the appropriate underwear, and even the kind of underwear that can fit some kind of clothing.

    There is a particular underwear for every kind of clothing and occasion. We want people to look good underneath it all. That is why we have several options, colours, types, sizes from band size 30 – 50 and cups A to KK and Shapewear up to 15XL. Our plethora of options also include senior citizens.

    “With over 5000 different types of underwear, we are specialised in that area.”

    While Seun’s husband, Tayo-Balogun has electrical and computer engineering background with over 15 years experience in the IT industry, Seun has a background in the social sciences with diverse experiences in finance, economics, branding, marketing and a strong flair for computer applications, graphics and web design.

    “All this put together has really helped us as a couple in running our business. That is why I advise people to keep learning because, the things you’ve learnt could come handy at some point in one’s life. “I have about 13 years experience working in a corporate environment. That has also helped.”

    Have there been challenges in the past five years of business growth?

    “Yes, there have been challenges,” chorused the couple. “We have had issues with people hacking into our site, for instance. But thank God my husband is also an IT Security Specialist, we were able to bring the site back up within a short time. Imagine if we had to pay for all that. It won’t be cheap.

    “Initially, we were working from home. But early last year, we moved it out of the home to an office where people can come in and pick stuff from us. But we sell more online because online is our core model. As for deliveries, we do deliver to all the 36 states in Nigeria. We have delivery partners as well.”

    Quality comes with a price. So how expensive are Seun and Tayo’s online products?

    “Our lingerie are not expensive,” replied Seun. “That is because when we compare it with other similar stores selling the kind of things we sell, I believe we are doing it right for the customers. To start with, everything we sell is top-notch. Besides, what you see in the big stores when you travel to the US or UK is what we sell.

    We have the big brands in our store and our prices are much better. Sometimes, we have a gap of up to 50% difference in our prices in comparison with similar items in the market. That is because our vision from the beginning was to sell lingerie online at affordable prices. Prices that Nigerians will be able to afford.

    “We believe that everybody has the right to wear beautiful lingerie, and it shouldn’t be too expensive. Seeing a lot of people coming back to buy repeatedly from us really means they are satisfied with their purchases.

    “I have realised that since we started five years ago, most of our customers’ way back are still our customers today. That really amazes us and it also means so much. They have been with us and they are still with us. That tells us that whatever we are doing is a niche product, which is giving value, and people are happy with whatever they are buying, and that is why they keep coming back.

    “So, our customer’s retention has been quite high, and that is what we are happy about and we really give God the glory.”

    Apart from being online and selling offline as well, Seun and Tayo acknowledge the importance of holding a fashion fair. “We are actually having one in a few days’ time,” Said Seun. “We had one in July at Intercontinental Hotel in Victoria Island (Lagos). It was an opportunity to meet some of our customers who live around us or are presently in the country.

    “By blending both together, we realised we would be able to deliver better results. There, we helped them to know their sizes, what was suitable for their body types, their body shapes and fitting for the kind of clothes they are wearing, that goes a long way to improve on the personal touch to our products. More importantly, meeting our customers and talking to them is something that we are happy doing and shall continue to do.

    “However, this is Africa. We have a culture that thrives on sanity. We do not like exposing our private body parts in public. So, during our shows, we do not use real models as such to display our products. We have a way of placing it on racks, use brochures, mannequins and so on. But at the same time, the real model live shows would have to depend on cultural acceptance before we can do it at some point.

    Do the lingerie they sell have African flair or they are limited to the regular Oyinbo stuff?

    Seun responded: “That’s our next phase. We are working presently on that. We are looking to experiment with some African styles and we know we will make it happen sooner than expected.”

    Asked what running an online business is like, she said: “It is easier to start an online business. The challenge is staying online, because when you need to scale, it becomes expensive.

    “If you are able to work out a great strategy that will enable you scale quickly online, then go for it. Online is good. You do not have to wait for customers. You can search. If you have a good search optimisation, you can get an edge.

    Seun also shared with us one of her best moments as an entrepreneur.

    “Sometime last year, I missed my flight to Lagos while I was returning from the Nigerian Economic Summit 21. So while waiting for the next flight, I decided to do a bit of marketing to some ladies at the airport lounge. While we chatted, I introduced brief essentials, but they apologised and replied that they already had places where they bought their underwear and that they were contented with the place.

    “Out of curiosity I asked them where they buy from and they told me they buy from Brief Essentials. That was amazing. That was when I told them that I didn’t even have to market to them anymore because I represent Brief Essentials. One of them said she had been buying from us for four years. Such stories keep us going. We feel we have done something unique that people appreciate. We are indeed very grateful to God that we created this idea that people have found beneficial.

    “We sell to everyone—male, female and children underwear, shape wear, bridal underwear, accessories, anything that is related to underwear—and that is necessary to solve several fashion dilemmas.

    Asked what it is like doing business with one’s wife, Tayo-Balogun said: “Even as a wife, I see her first as a partner and when it comes to business, I treat her like anyone I do business with. The distinction is necessary for business growth.

    On how often they sit together to discuss about their mutual business, Tayo-Balogun said: “Well, as it is, I am currently employed and I really have a tight schedule. But whenever I am available, we deliberate on the business.

    On who takes charge of stock of their products, he says he is contented allowing Seun to do it “One of her responsibilities as the person who runs the business is also locating suppliers and manufacturers,” he said, adding “I am comfortable and more relaxed doing business with my wife.

    “At a point, I had to insist that she should take complete charge, because in the beginning, she was on paid employment and it was becoming too stressful.

    “The business would have grown more than this, but because she was in paid employment; her first loyalty was to her employer; a situation I also encouraged. That is because I have employees too and I would want them to be loyal to me even if they have their private things they do.

    “So I am comfortable that she is in the family business. With her, I don’t have to worry about somebody robbing me of profit. If she mismanages our funds, it comes back to her (laughs).

    “I am really favoured to have a wife who understands the importance of business. No offence to other women, there are some women who would rather do something else, while some other women prefer to be in paid employment and aspire to be powerful in the boardroom. There is nothing wrong with that if their husbands are comfortable with that.

    “A husband and his wife have to sit together and discuss and be sure that a family business is really what they want to do. And if that is what they want to do, by all means, it is better to have my wife in business with me than having total strangers, especially with the issue of trust.”

    He prefers to describe himself as “someone who put a lot of value on giving value. Work makes me happy and relevant, I am also passionate about helping people. If I know something, I feel that it is my responsibility to let others know same. If I see a need, I usually see it as my responsibility to pass the information around.

    “I love family. I believe the family is the bedrock of the society and I think that everyone who aspires to have a family should cultivate the family and teach the children. There is a reason why God gave children to us and didn’t make them fall from trees.

    “So I’m interested in a better Nigeria. We should be interested in politics instead of leaving it to people some think are not qualified. I like privacy at my quiet moments, to read.

    Seun also sared the experience of working with her husband: “Yes, we work together and we also play together (laughs). My husband is a very amazing man and I enjoy working with him. He listens and we are able to talk about our issues and always find a way out.

    “If he were not the kind of person that he is, it would have been tough. The beautiful part of it is that he allows me to do whatever I want to do. If I tell him something, he asks, ‘Is that what you think? Okay, go ahead and do it’.

    “He is so supportive. He doesn’t want me to make mistakes. He is always ready to provide lots of insight and he always has insight. I appreciate him.

    “He is also an amazing father to our three children. Anytime he is not at work, he is with the family. He takes care of his family. He doesn’t joke with that. I thank God for having him and I thank his parents for bringing him up rightly.

    “We have a family support system which is wonderful. I am the CEO of the business, but most of the time, every decision I take is something that we have both agreed to do. As the CEO, I provide a lot of oversight, but we are a combination of two people who are passionate about something, and doing what they believe in.

    “In fact, being my husband makes it more interesting because the family that does anything together stays together, because a lot of things continually blends us together. Personally as a mum, I love to be around my children. I like to have time for them. That I have achieved by working for myself. And my husband also likes that. So I can say that we are all comfortable with the family arrangement.

  • Zuckerberg, Nigerian economy and power of ideas

    Few weeks back, famous co- founder of Facebook, Mark Zuckerberg, visited Nigeria. The visit was completely devoid of the traditional fanfare often associated with such high profile visits. For most part of his stay, Zuckerberg was in the company of ordinary Nigerian folks. Seeing him completely at home in the company of regular Nigerian youths kept one wondering if this is, indeed, the genius who created the globally acclaimed billion dollar-brand  that has effectively integrated the world into a truly global village. It is instructive that despite being a leading global entrepreneur, Zuckerberg’s lifestyle doesn’t in any way reflect his stupendously wealthy pedigree.

    Let me, however state that the essence of this piece is not to celebrate Zuckerberg’s simplicity. Rather, it is to call attention to what, in my opinion, has turned Zuckerberg into a captivating global phenomenon. And this is the power of ideas. Famous Nigerian success coach and motivational speaker, Sam Adeyemi, once affirmed, and rightly so, that ideas rule the world. The quality of ideas available in a given society determines the quality of life and opportunities available in such society.

    Many people seem not to understand that the quality of our lives as human beings is substantially a reflection of the quality of ideas we generate. Many still seem not to comprehend that the ideas which we conceive, like kola in Igbo culture, is life in itself. It is the kind of ideas that we give to our space that it gives back to us. No more, no less. Zuckerberg invented Facebook in his twenties and as a university undergraduate. Thanks to the strength and depth of his idea, today, he ranks among the world top billionaires. The source of his kind of wealth is quite instructive for the average Nigerian youth. His wealth was founded and driven on the power of ideas.

    Presently, our nation is passing through a painful economic route. Oil, which has been our major source of revenue for decades, no longer commands huge financial status in the international market. Even if it still does, Niger-Delta militants’ activities remain a major worry.  So, we are stuck; wallowing in self-pity and indulging in destructive blame game that leads to nowhere. But the Zuckerberg model has shown us clearly that having fertile and bright minds is better than possession of billions of oil wells. The utility of the latter is tied to the earlier. Without the required human resource, whatever prosperity that any nation possesses will eventually amount to nothing. This, sadly, is the story of Nigeria.

    Without bright ideas, there cannot be innovations. And it is innovations that bring development. Innovation is the natural by-product of idea. Innovation is the prime basis for socio-economic progression in any society. We must be under no illusion. Societies that fail to harness the power of innovation will eventually become the customers of those that do.  There is no magic about it. Our economy is presently at comatose because we have relegated innovation to the background for a long time. Rather, we celebrate overnight billionaires with no visible entrepreneurial and cerebral pedigree while we sentence our younger folks with bright ideas to a life of misery and frustration.

    A failure to frame and harness innovation might consign future generations of Nigerians to material dependency on those nations that had seized the mantle when they had the opportunity. We must be able to create an environment in which young entrepreneurs can come up with the most innovative products and services. Innovation is a journey. But it is an endless one. For us to be relevant in the emerging world order, we must ensure that our youth keep thinking, developing and working.

    To integrate innovation into our daily living, we must take on a leading role in promoting science, technology and modernism as core policy areas that not only hold the key to the future, but could also make our nation one of the continent’s innovation leaders.

    It is only in successfully doing this that we could effectively harness the untapped potentials of our youth, thereby unearthing our numerous but hidden Mark Zuckerbergs.  In Zuckerberg’s own words: “This trip has really blown me away by the talents of young entrepreneurs and developers in this country, and making a difference and making a change. It reminds me of when I wanted to start Facebook. I wasn’t starting a company at the time but wanted to build something to see if it would work. And that is what I see people here do, pushing through challenges, building things that you want to see in the world. You are not just going to change Nigeria and the whole of Africa but the whole world.”

    The future belongs to ideas and ideas naturally feel right with the youth. It is in realization of this that Zuckerberg, perhaps, shunned older key players in the nation’s telecommunication and media industry and chose to rather associate with the youth as he understands that the future can only be driven by young talents.

    If we are to ensure that the next generation of our compatriots is not a wasted one, we need to change our values system as a people. This is the time to raise and nurture young folks with innovative mind-sets.  As previously asserted, idea is the engine that transforms the way we live and think. The advanced economies of the world were founded and being sustained on great socio-political and economic ideas.

    Fifty years ago, controversial American physicist, historian and philosopher, Thomas Samuel Kuhn, coined the term ‘paradigm shift’. What he was referring to then is the moment when our worldview essentially alters as a result of a new idea. For our nation to truly experience a feasible ‘paradigm shift’ from adversity to prosperity, this is time to invest in new ideas that could positively shape our future.

     

    • Ogunbiyi is of the Ministry of Information & Strategy, Alausa, Ikeja.
  • Nigerian banks lead in equities’ N372b loss

    Nigerian banks lead in equities’ N372b loss

    Banking stocks suffered the most among 25 top losers in the equities’ market as share price decline left investors with a net capital loss of N372 billion.

    There were 10 banking stocks among the top 25 that lost 30 per cent and above in the past eight months. Some of the top losers recorded as much as 60.1 per cent in equities price reduction.

    Conversely, only one banking stock made the few top gainers’ within the period. Altogether, there are 15 banking stocks quoted on the Nigerian stock market.

    Three other banking stocks recorded various gains, while a bank dropped by 12.3 per cent.

    The Nation’s market intelligence at the weekend indicated that investors in banking stocks have suffered the highest losses with nearly three-quarters of quoted banking stocks running with double-digit losses. Losses in the banking sector generally significantly outweighed the overall market’s average loss, according to data review by The Nation.

    The benchmark indices for the Nigerian stock market indicated eight-month average decline of 3.64 per cent, equivalent to a loss of N372 billion. The aggregate market value of all quoted companies on the Nigerian Stock Exchange (NSE) closed August at N9.479 trillion as against its year’s opening value of N9.851 trillion. The All Share Index (ASI), which tracks prices at the Exchange, dropped to 27,599.03 points by the month-end as against its year’s opening index of 28,642.25 points.

    Banking stocks were deep in the red with the troubled Skye Bank leading the top 25 losers with year-to-date loss of 60.13 per cent. The Central Bank of Nigeria (CBN) had sacked the board and management of Skye Bank over corporate governance issues. Diamond Bank followed with a loss of 54.35 per cent. Other top losers in the banking sector included Ecobank Transnational Incorporate, -31.3 per cent; Fidelity Bank, -40.67 per cent; Sterling Bank, -49.18 per cent; Union Bank of Nigeria, -39.13 per cent; Unity Bank, -30.36 per cent; Wema Bank, -34.0 per cent; FBN Holdings, -40.53 per cent and FCMB Group, which market value had dropped by 39.64 per cent. Stanbic IBTC Holdings meanwhile, dropped by 12.3 per cent within the period.

    While consolidation, steep price declines and emergence of highly capitalised non-bank stocks such as Dangote Cement had reduced the hitherto overwhelming dominance of the market by banking stocks, banking stocks still account for some 25 per cent of the total market value of the Nigerian equities market.

    Head, financial advisory group, GTI Capital Group, Mr. Kehinde Hassan, said the negative performance of the banking sector was weighing heavily on the overall market performance.

    He noted that the unstable policy environment and the knee-jerk approach of the Central Bank of Nigeria (CBN) to regulatory decisions have compounded the tough operating environment for banks, many of which had warned of lower earnings due to the headwinds.

    Only Guaranty Trust Bank (GTB) ranked within the top gainers’ list with 8-month gain of 45.76 per cent. United Bank for Africa (UBA) meanwhile, posted a heartwarming return of 28.7 per cent. Access Bank followed with 14 per cent, while Zenith Bank, against all expectations, trailed with a modest gain of 6.05 per cent.

    Other top losers for the period included Livestock Feeds, -33.1 per cent; UACN Property Development Company, -42.5 per cent; Honeywell Flour Mills, -35.12 per cent; Vitafoam Nigeria, -43.99 per cent; AIICO, -30.77 per cent; Union Homes and Savings, -39.24; Fidson Healthcare, -32 per cent; GlaxoSmithKline Consumer Nigeria, -45.88 per cent; Berger Paints, -31.1 per cent; Cement Company of Northern Nigeria, -35.8 per cent; Lafarge Africa, -40.1 per cent; Portland Paints and Products Nigeria, -53.2 per cent; Forte Oil, -47 per cent; Tourist Company of Nigeria, -43.1 per cent and Caverton Offshore Support Group, which lost 40.9 per cent.

    Nigerian equities have writhed under sustained losses in the past 32 months. Aggregate market value of all quoted equities on the NSE closed 2015 at N9.851 trillion as against its opening value of N11.478 trillion for the year, representing a loss of N1.627 trillion. The ASI indicated a negative full-year average return of -17.36 per cent. The ASI closed 2015 at 28,642.25 points as against its opening index of 34,657.15 points.

    The losses in 2015 worsened the downtrend that had in 2014 marked out Nigerian equities among the worst-performing stocks globally with average full-year decline of 16.14 per cent. Aggregate market value of all quoted equities had closed 2014 at N11.478 trillion as against its opening value of N13.226 trillion for the year, indicating a loss of N1.75 trillion during the year.

    Altogether, investors have lost more than N3.75 trillion in the past 32 months as the stock market groaned under political tension, steep decline in crude oil prices, foreign exchange crisis, uncertain policies and other domestic and global macroeconomic concerns.

    The second half of 2016 has however seen considerable share price recovery compared with the steep losses in the first half. In the first quarter alone, Nigerian equities had recorded a net loss of N1.15 trillion.

    Notwithstanding the negative overall market situation, many stocks have posted substantial returns so far this year. Dangote Flour Mills, which saw the reemergence of Aliko Dangote’s Dangote Industries Limited as the core investor, recorded the highest gain of 240.7 per cent. E-Tranzact followed with a gain of 97.4 per cent. United Capital returned 74.8 per cent while Total Nigeria posted eight-month return of 63.3 per cent. Other top gainers included Presco, 37.2 per cent; AG Leventis, 43.6 per cent; Union Dicon Salt, 39.3 per cent; Neimeth International Pharmaceutical, 32.6 per cent; DN Meyer, 30 per cent; Seplat Petroleum Development Company, 49.4 per cent; Eterna, 33.7 per cent and RAK Unity, a second-tier stock that posted a year-to-date return of 61.3 per cent.

  • This Nigerian dream…

    We belabour the ‘Nigerian dream.’ We abuse the idea that life will get better, that progress is assured if we keep faith, obey the rules and work hard, that prosperity is guaranteed if we continue to tread the slow, steady path to progress and a prosperous future. And in pursuit of these lofty ideals, we pervert the steady, measured, impartial course of the universe; hacking pliant paths to our dreams, from the crossroads where gluttony fosters depravity.

    Eventually, we awaken to a cold, bitter truth: We are being sacrificed. The Nigerian dream we are sold isn’t worth our sacrifice. And the individual dreams we pursue, aren’t worth a smidgen of what we make them out to be. By the time we all struggle to achieve our dreams; Nigeria will be finished. Given that each tribe may finally achieve its dreams of nationhood via secession, Hausa, Igbo, Yoruba, Ijaw to mention a few may establish their new nations.

    When we do, the swollen belly of our idiocy and pride shall become clearly visible to us. When it does, it shall suddenly dawn on us that, all along, we had been blindly acting to a script prepared by career predators from Western nations of Europe, America and our ruling class.

    The truth shall become clearer to us in intensity and impact and we shall hopelessly realize that we are being sacrificed. We will all be sacrificed; some of us much quicker than others. As it is now, so shall it be in our new nations, the Biafran youth, Ijaw youth, Oodua youth and Arewa youth to mention a few, shall become disposable indices in the scheme of things.

    But until then, we will continue to have today and squander it on the altar of racism and greed. Today, it’s impossible to see any offspring of our ruling class engage or become embroiled in the familiar tragedies that mar our lives. It’s always the children from the breadlines, struggling middle class and backwaters that are involved. We are the youth divide traditionally expected and required to function and serve as unquestioning muscles and ordinary cannon fodder in the ruling class’ blueprint of pillage and destruction.

    The decline of Nigeria is a story of gross injustices by the ruling class to the citizenry. But that is only an aspect of it, the greatest injustice is that meted out by individual citizen to self – the youth particularly. And this predominant malaise often plays out in our corruptibility and disinclination to foster a more humane leadership and society.

    Today, we suffer declining standards of living, stagnant and falling wages that are hardly paid at due time; we suffer curtailment and absolute denial of our basic wages, long-term unemployment, slave labour, escalating crime wave, among other ills.

    Together, we perpetuate gruesome realities of the weakest being crushed decisively and maniacally by the affluent and strong. Together, we perpetuate a story of unbridled sectarian, ethnic and corporate power that has taken our government hostage, overseen the dismantling of our cultural heritage, societal and entrepreneurial values.

    But if the ruling class, in connivance with predatory nations and institutions from the so-called ‘first world’ is responsible for plundering our natural resources and bankrupting the nation, we, the youth, are responsible for even worse atrocities.

    We serve as the tools by which the ruling class and its cohorts overseas plunder and destroy our nation. The virus of political corruption, the perverted belief that only political and material profit matters, has spread to distort our thoughts and understanding of right and wrong. Today, it manifests in endemic proportions plaguing our communities with religious and political terrorism, economic and cyber-terrorism to mention a few.

    Today, the Nigerian society dies a gruesome death basically because we lay to waste, our youths and we, the latter, by our suicidal actions and thoughts, submit ourselves as hopeless prey to the Nigerian ruling class and their cohorts overseas.

    Everyday encounters with gluttonous gangs of struggling youth reveals among other things, that many of us are the same social products as our peer from the aristocratic divide. Conditioned by life’s harshest vicissitudes to survive at all cost, we lay in wait, striving and bidding our time until we are ably positioned and strong enough to serve or rob the rich whose life we earnestly covet and decry.

    A visit to any night club, party, religious organization or office still attests to this fact. Ambitious and upwardly mobile youth from the breadlines or struggling working class families engage in a variety of excesses to the applause of mates yearning to be in their shoes. Either as advance fee fraudsters, bankers, journalists, accountants, secretaries, factory hands or ordinary clerks, youths from the breadlines daily engages in a bitter, desperate struggle to chance on the shortest possible cut to sudden and stupendous wealth.

    We seem beset by a greater and unexplainable fear beyond the fear of poverty amongst other harsh realities of their lives. Fear plays a greater part than hope: we are infinitely buoyed and obsessed with thoughts of the money that we could make or the possessions that might be taken from us or elude us, than of the joy and value that we might add to our own lives and to the future of our fatherland.

    Most of us, like our more privileged peer crave the best of everything without actually sweating for it. And when we do sweat for it, our industry is tainted by vigorous dashes of impatience and duplicity. In our work, we are haunted by jealousy of competitors, and a fleeting interest in the actual work that has to be done. We spend greater time and passion defending unjust privileges that we are desperate to enjoy.

    Such appalling youth constitute a greater segment of the human element expected to salvage Nigeria from eternal ruin and bloodbath. Consequently, our society becomes more rudderless and unstable and vulnerable, on our watch. Now that Nigeria as our fathers, ‘the wasted generation’ made it, and we the youth, aggravate it, have begun to collapse, we withdraw from the possibility of rebirth, and instead choose to exploit the infinite possibilities in our fragility and predicted collapse.

    It’s about time the Nigerian youth started postponing immediate gratification and endure hard sacrifices, spurred by conviction that the future can be better than the past. Beyond the politics and inanities of our existing ruling class and political parties, we face far more difficult questions at our moment in history: How do we reconcile reality with promises that have been made to us? How do we make the best of our circumstances at the backdrop of indefensible leadership failure and disillusionment of the citizenry?  How do we evolve and nurture to fruition, a new vision to help us deal with our gruesome realities, even as we chart a promising story of the future? How do we divorce ourselves from the pains and disappointments of the past – particularly those that many of amongst us had no stake in but yet internalize and perpetuate unexplainable miseries thereby?

    How do we redefine “Peace, Unity and Progress” with our lust for “Life, Liberty and Happiness?”  How do we become more humane than we are now?

  • Keeping faith with Nigerian Turkish schools

    The terrorism allegations against the Nigerian Turkish schools in the aftermath of the failed July 15 coup in Turkey gave parents, teachers and students the goose pimples. But they defended the schools, which have been in operation in Nigeria since 1998.

    The July 15 coup in Turkey shocked the world.  Nigeria, with a large Turkish presence, felt the heat of the putsch.

    In the wake of the crisis, the Turkish government revoked the licence of 15,000 teachers and shut 15 universities run by Fetullah Gulen, who was accused of sponsoring the coup.

    On July 29 the Turkish Ambassador to Nigeria, Mr. Hakan Cakil, called on the Federal Government to close  the Nigerian-Turkish schools because of the alleged links of their founders to the failed coup.

    There are 17 such schools in Nigeria, operated by the First Surat Group of Companies. The Nigerian-Turkish International Colleges (NTIC) and pre-Nursery/Primary schools started in 1998 in Abuja.  They have since spread to Lagos, Ogun, Kano, Kaduna and Yobe states.  The Nigerian-Turkish Nile University (NTNU) started in 2009 in Abuja.

    With a combined enrolment of about 5,000 and a workforce of about 2,000 Nigerians, the news caused some concerns among parents, who queried the connection between the coup plotters and the schools in Nigeria.  Many of them described the decision as political and inimical to their wards’ development.  They had no suspicion of the allegations about the running of the schools.

    A member of the Parent-Teacher  Association (PTA) at NTIC, Kano, who pleaded anonymity, said the allegations were not enough to make her withdraw her two children from the school as long as the government does not shut them.

    “I see no reason I should suddenly withdraw my wards from NTIC simply because of an unsubstantiated allegation that owners of the school are involved in a coup in Turkey. For goodness sake, this is Nigeria and not Turkey. So, if they have a political problem there, they should find better ways of settling it and not to distort the academic curriculum of Nigerians who are seeking for knowledge in NTIC.  I believe the Nigerian government will take a wise decision on this matter,” she said.

    Another parent, Mr Segun Ayobami, who has a ward in JSS2 in NTIC, Kaduna, said parents liked the school because of its quality, urging the government to resolve the issue with Turkey.

    “Many of us just like the school because of their academic calendar in terms of time-table and curriculum for the students.  The coup we are talking about has not been established to have been carried out by staff of the Turkish Schools here in Nigeria. The Nigerian government needs to weigh the consequence of such action, especially on the employment aspect and see how the two countries can find a common ground to look at diplomatic means of addressing the challenge,” he said.

    Another parent who has children at NTIC, Kaduna, Mrs. Hajara Mohammed, said the politics in far away Turkey should not be allowed to affect children’s education in Nigeria.

    “My own fear is that, if the school is closed, where do we start from? It would affect our children education and even psychologically, because they would have to change schools.

    “For now, we have not resolved to withdraw our children from the school and my prayer is that we will not have any reason to do so. In My own case, I have two kids there and am comfortable with their performance so far.

    “As for the alleged involvement in the failed coup, the Turkish government should adopt a means of prosecuting whoever is found wanting, but should not allow their politics affect our own children education in Nigeria,” she said.

    A Nigerian, who is a senior staff member in NTIC, Kano (name withheld), said he had not noticed anything untoward about the school’s operations since he joined at its inception.

    “I have not observed any external business like politics. All the school management is concerned about is how best they can impact knowledge, discipline and morality on the students; so to me, the call for the closure of the school remains unnecessary and it is not in the interest of Nigeria, Turkey and students,” he said.

    There were concerns that the announcement may affect enrolment in the new session.  In the aftermath of the announcement, The Nation gathered that parents refused to pay fees and hostel accommodation at the NTNU because of fears over the fate of the schools.

    So far, Mr Olayinka Aderoju, Vice Principal, NTIC, Mowe in Ogun State, said the downturn in the economy affected enrolment more than the coup claims.  He added that parents asked questions, following the announcement and their fears were allayed.

    “We noticed the drop in admission rate at the beginning of the year, but the comment added to the already worrisome situation. But we have a firm belief that the school would weather the storm.

    “Down South, the parents are learned and informed so they make their school decisions based on standard of the school, conducive environment, among others.  The situation has had some effect on the school, both positive and negative – positive in the sense that people who didn’t know about NTIC got to learn about its existence – negative in the sense that people got suspicious and they wanted to know if it was true.  But we thank God that even our parents have been supportive. Both the chirstian and Muslim parents,” said Aderoju, who joined the school in 2004.

    Aderoju added that it was not only Nigeria that was asked to close schools, saying the same request was made to Germany, which declined to do so based on lack of evidence.

    “The Turkish government made a similar request in Germany and they refused due to lack of evidence,” he said.

    School Administrator Mr Hafeez Idowu said the college was preparing for the new session.

    “Our school is in session, everything is fine. In fact, we are holding our teachers seminar today in preparation for the new session,” he said.

    Managing Director, NTIC, Abuja, Orhan Kertim, denied all terrorism links to the schools, which he said had been law abiding and were more Nigerian than Turkish.

    In a statement, the spokesperson for the NTIC, Cemal Yigit, urged the general public to ignore and disregard the claims as the institutions were not political.

    He said: “The NTIC is not a Turkish government run institution, but a privately funded institution by a group of Turkish investors. As a responsible organisation operating in Nigeria since 1998, we are conversant with the laws of the land and we have to our best ability abided by these stipulations.

    “The call, therefore, by the Turkish Ambassador, is not only baseless, but it is also unfounded and of poor taste. Nigeria is a sovereign country and the call by the Turkish ambassador is not only an affront to the sovereignty of the Nigerian nation but a display of the crass ignorance.

    “The NTIC schools in Nigeria are Turkish in name but Nigerian in deeds. We are partners in progress as evident in all our activities since 1998. NTIC is non-political and non partisan.Our philosophy is centered on dialogue, love and tolerance.”

    Minister of Education Mallam Adamu Adamu, however, put to rest all concerns about the continued existence of the schools when he told The Nation that there was no evidence of terrorism linkages that would warrant closing the schools. Adamu said Nigeria, as a sovereign state, had rules and regulations guiding its operations, either diplomatic or otherwise.

    “These institutions came to Nigeria and indicated interest in investing in education system. Conditions were presented to them and they apparently met the requirements, and were issued operational license, and they have been operating in line with the specification of the licence they have.

    “In that regard, it would be morally and legally unfair to yield to the call of the Turkish government on mere allegations. We have no evidence against the Turkish schools and other investments in Nigeria that would warrant that we take the action as requested by the government and close the schools or other investments. Until the Turkish government proves otherwise, they will continue to do their legitimate business here in Nigeria,” he said.

    Happy with the Federal Government’s decision, Principal, NTIC, Mowe, Mr Ercan Yilmaz, said: “The education minister, Mallam Adamu Adamu, has certified us to continue operations since the accusations are unfounded and untrue. Besides the name of the school is Nigerian Turkish, but it is established as a Nigerian organisation, so even if there’s something wrong, it is not Turkey that can say do this or that but the Nigerian government. We are happy working here and we will continue our work here.”

  • Rio 2016 (The Nigerian paradox)

    Rio 2016 (The Nigerian paradox)

    Nigerians watching the Rio Olympic Games have been asking one question: where is “the Nigerian Spirit”?

    We have a way of rising from the lowest rung of the ladder to survive and triumph when the world has written us off. It is not just in sports; it is in all areas of our unique life. Politics. Busines. Academics. Wars. And more.

    With the seeming gradual disappearance of that never-say-die spirit, many are being forced to wonder: why the Nigerian paradox? Why should a country be so blessed – to the envy of many – and yet so poor – to the consternation of all? This is the question that sociologists have been battling for long. The mystery of a country blessed by nature and wrecked by the very hands that should nurture it like a rare flower tendered by a master florist.

    Is it all in our gene as some, without iron-clad proof, have derisively suggested? Is it poor leadership? Why poor leadership when we have men who can hold their own among the world’s best in any trade? When and how did we miss it? Can we regain our glory? When? In this generation?

    My apologies for the seeming digression. It has been a great time at the Rio Olympics. Against all odds, Brazil has staged an extraordinarily classy show that has kept the world singing its praise. Just before the games, the country was embroiled in social and political upheavals that kept many wondering whether it was ready to host the world. Life was tough for the man in the street and Zika virus was a big challenge. Petty thieves ruled the streets and politicians slugged it out in a do-or-die battle for the presidency.

    But, all that has been elbowed out by the Brazilian “miracle”, the world has fallen in love after seeing a great spectacle of an opening ceremony – enchanting and gripping – and some of the structures that are arguably the highest exhibition of architectural prowess. Indeed the land of samba has proved the bookmakers wrong.

    It is an exciting love affair. Records are being shattered and legends are being made.

    Jamaican sensation Usain Bolt has become the first man to win the 100 metres dash three consecutive times, breaking his own record. As he flew onto the finishing line, he raised his forefinger, obviously to tell the world that he remains number one. Of course, the world rose to hug a true star, the fastest man on planet earth.

    Michael Phelps of the United States became the world’s most decorated Olympian of all time, taking his 21st Olympic career gold. Fondly called “The Baltimore Bullet”, Phelps  carted home six gold medals at the 2004 Olympics in Athens, eight at the 2008 Games in Beijing and four at the  2012 Olympics in London. He returned to the pool in April 2014 after retirement to qualify for Rio where he has sunk his own records.

    South African star athlete Wayde van Niekerk smashed United States’ Michael Johnson’s 17-year-old record in the 400 metres when he did it at 43.03 seconds.

    Team Nigeria  has shown  only sparks of high class performance. We are yet to hit the medals table. But the sparks have indicated clearly that we do not lack the talents to excel on the global stage. No. The truth is that talents alone do not make success. The other key elements, such as right environment for training would-be champions, facilities, motivation and quality leadership, are missing.

    The soccer team, for example, has shown some strength of a champion. After a botched travel arrangement, it arrived in Brazil hours before its first match in which it beat Japan 5-4. It lost to Colombia 0-2 and beat Sweden 1-0, before humbling Denmark 0-2. It lost last  night 0-2 to Germany.

    “It was very difficult. We struggled to get here. But there is a oneness, a team spirit and a willingness to overcome,” coach Samson Siasia was quoted as saying. He was recalling the team being stranded in Atlanta.

    The story remains unclear. Some said it was cash palaver. Others said it had to do with currency conversion and transfer problems – transferring.money out of Nigeria could sometimes be like breaking a rock, according to knowledgeable sources.

    The team’s performance so far has rekindled sweet memories of 1996 when Nigeria beat Brazil after being down by three goals. It overcame another two-goal deficit to humble Argentina 3-2 in the final.

    Sprinter Blessing Okagbare did not make it in the 100 metres. The popular thinking is that our athletes run themselves out of the medals dais by participating in small races in which they get burnt out before getting to the big stage. All because they need cash for their upkeep.

    Table Tennis star Aruna Quadri did not get a medal but he made us all proud when he smashed his way to the quarter finals, the first African to make that feat. He beat Timo Boll, the former world number one and the number 10 seed in Rio. He was stopped by the world number one, Chinese Ma Long. His team mate Segun Toriala was honoured for his seventh Olympic  Games appearance.

    Chimerical Ukoga, the rower, reached the quarter finals, after putting her medical school on hold to represent Nigeria. Hers is a worthy story of patriotism. The first Nigerian representative in rowing schools in the United States.

    Boxer Efe Ajagba, Nigeria’s sole representative, lost in the quarter finals. He knocked out Trinidad and Tobago’s Nigel Paul in the first round. Nigeria has not won a medal in boxing since 1996 when Duncan  Dokiwari got a bronze in Atlanta. Ajagba won a bronze at the Commonwealth Games in Glasgow, Scotland, 2014 and gold at the All Africa Games, 2015.

    These Nigerians and many others, who emblematise the Nigerian Spirit, surely would have done better in Rio, if they had been physically and mentally well prepared for the Games. Such preparations take at least four years, not the crash programme and emergency projects we do here. Not the kind of preparation in which more players are taken overseas than the number needed, with hotel bills sparking rows about who owes what and who pays.

    Winning at the Olympics is no 100 metres dash. It is a result of marathon preparations, guided by a foolproof policy geared towards producing champions and not carpetbaggers.

    Britain did not do well in 1996. They returned home and set their hands to the plough. They won the bid to host the 2012 Games. Now they are third on the medals table.

    The Asians are fast on the heels of the Jamaicans and the Americans in athletics. They are the undisputed champions in table tennis – a game that has its original home in England – thanks to years of sweating. There will be little surprise if they start dominating track and field.

    At the 1996 Olympics, Jamaicans were struggling to do well. They returned to the drawing board to build champions. They sent people to understudy the Americans and take advantage of the world class facilities there. Now there is a new generation of speedsters. Three Jamaicans ran in the men’s 100 metres finals.

    American greats have returned to colleges to raise new world beaters. Their focus: the 2020 Games.

    Here in Nigeria, every Olympic is a jamboree. We are the only country who still live in the past when “the important thing in the Olympic Games is not to win, but to take part” as the father of the modern Olympics, French educationist Pierre de Fredy, Baron de Couberlin (1863-1937) said.

    Our governments are blind to the great potential of sports to generate employment and revenue. The private sector knows its role in this, but there seems to be no plan to rally business for sports.

    Schools lack facilities. Even those exotic neighbourhoods that are the homes of the rich and powerful have no facilities. Little wonder most of our stars are from poor homes. Imagine somebody encouraging those kids who run after moving vehicles to sell mobile phone recharge cards and other items to take to sports.

    Sports Minister Solomon Dalung is quoted as saying he would not leave Brazil without a medal. “Let him seek asylum there, na im sabi,” a youngster said cynically.

    A fellow questioned why Sports and Youth should be lumped together in one ministry . Besides, he scorned the minister for, according to him, dressing like a retired soldier turned door man and a Civil Defence recruit awaiting his first set of kits. “That is what you get when you hire a lawyer to run sports in a country of many former great sportsmen,” he said dejectedly.

    How do we use the Nigerian Spirit to tackle the Nigerian paradox of a rich nation stricken by the Zika of poor leadership? Our leaders see – even if they do not, don’t they feel ?- how united Nigerians are when the national soccer teams are playing. Can’t they use this to close the yawning gap that has created the crisis of suspicion that has created such scary belligerents as Avengers, pro-Biafra activists and Boko Haram?

    How do we tackle the Nigerian paradox?

  • Nigerian counts gains of online degree

    Oluchi Anih was among the inaugural 2016 cohort of the Roehampton, London Online programmes that graduated recently.

    The Abuja-based banker joined the campus-based students and other online graduates across the world for the graduation at the university’s Royal Festival Hall in London.

    Oluchi is one of the first to earn the university’s MSc in Information Systems Management, which she said is already adding value to her career.

    “Having worked in the financial sector for nine years, I consider the Nigerian banking industry to be one of the most technologically driven sectors in the country. I chose Roehampton’s online programme because I wanted to develop my managerial competencies and be able to make strategic decisions that would support my organisation through using innovative technology. Since beginning my degree, I have been promoted, and recently, I received a commendation from management. so my efforts have paid off more than I could have imagined,” said Oluchi, who attended the graduation with her family.

    Many graduates from more than 150 countries also earned MBA and MSc in Project Management from the university’s online programmes.

    Vice-Chancellor of the institution, Prof Paul O’Prey, said the university is opening up access to quality education through the online programmes.

    “The University of Roehampton, through our colleges, has a long tradition of providing higher education, lasting 175 years. We are committed to expanding access to education, ensuring that all of our students become the kind of graduate employers value. We introduced online masters programmes in 2012, to provide the opportunity to gain a Roehampton degree to a wider range of students from across the world. We are delighted to see so many of our online students graduate this year,” he said.

    Through these programmes, students gain the critical thinking skills and practical knowledge they need to expand their expertise and advance their careers.

    Roehampton Online offers a portfolio of online masters degrees in areas of study, including business and management, psychology, public administration, public health, education and theology.

  • 13-year old Nigerian shines in continental Spelling Bee

    Thirteen-year-old Jesse Oghenekaro Azaino recently did Nigeria proud when he came fourth out of 27 spellers at the maiden Africa Spelling Bee Competition which took place in Johannesburg, South Africa, last month.

    Nine African countries participated in the continental event with three spellers from each country.

    South African speller, Zameer Dada, came first followed by Ethiopia and Kenya.

    Azaino had emerged one of the three winners in the Nigeria Spelling Bee competition earlier this year in Abuja to qualify for the continental event.

    The National Coordinator of Nigeria Spelling Bee, Mr. Sam Otitolaiye, disclosed in Kaduna, that the next edition of Africa Spelling bee will come up in Addis Ababa Ethiopia in 2017.

    The competition is for secondary schools pupils across Nigeria and will take place at state, zonal and national levels. The star prize for the competition is N1 million.