Tag: returns

  • A native returns

    SO, it’s all over. Kayode Fayemi, the donnish fellow with a guttural voice, will now return to the mound he vacated four years ago. Ayo Fayose, the governor as theatre, now retreats either to the shadow of oblivion or ignominy.

    And it was a long way coming. Like the words of T.S. Eliot in his poem The Journey of the Magi, “a hard journey” he had of it. Fayemi crouched, sulked, fought over that 2014 poll. He said he was robbed. Some believed, many doubted. The courts acclaimed the winner.  The erudite former governor seemed to have collapsed into a sort of ennui.

    But still hovering over that dreary dawn were many questions: The electronic evidence of Jonathan’s soldiers in gladiatorial electronic heist.  His political minions in a million lying tales. The birth of stomach infrastructure. Fayose as a feathery impresario and a sort of mythical tale of a returnee to power.

    Fayemi consoled himself with a ministerial toga, but what consolation. He still felt an ache. Anytime I saw him, I saw the ache in a contrived display of self-confidence, and even defiance, the sense of someone deprived. I remember he explained to me over the phone, a few days after INEC released the results, while Fayose still huffed and puffed. He said he had to concede because he did not want any “killing fields.” The ache I think is still not over. He carries it still until he is done. A big meal was at the table, but he still worked himself over the one he did not finish. Now he has the chance again at the table.

    So, while Fayose peacocked and derided him, he answered back, but his voice was somewhat muted. The narrative of stomach infrastructure rose over any rhetoric of his achievements. On my television show on TVC, just before the APC primaries which he gulped handily, I wanted him to go back to his time as governor, the charge of aloofness, of focusing an elite style over what many saw as Fayose’s “common touch.” He was not all that repentant. He had learned his lessons, but he would not sway from his task of obviating poverty.

    He is not the type to stop by a market and help women fry garri, or buy bole at the roadside, or utter imprecations at an old, ailing president. He could not do that even if it meant losing an election.

    But the ache egged him on for over four years, working the grassroots methodically and in silence, a stealth agenda to clobber the great foe of his political life. The same Fayemi who would stay away had been jolted by the necessity of victory into the humility of grassroots work. Franklyn Delano Roosevelt’s biographers have said that if polio did not paralyse him, he might not have been president. The former U.S. president, often called FDR, was too patrician to understand the common folk. Was that what happened to JKF? Was the earlier defeat an asset for his soul and political trajectory?

    But he insists he never lost, and that question remains up till now. How do we agree that he lost all 16 local government areas? But Fayose lost all but four. Yet the difference in numbers were about 20 thousand. What is clear is that what Fayemi had was a victory, not a mandate. That is critical. A mandate is an overwhelming victory. It may not be a landslide, but the difference must be emphatic.

    So, a more of the folksy heartbeat should remain with Fayemi as he remounts the throne. Few people have opportunities for redemption. But shall we say, that the great numbers that Fayemi’s opponent, Olusola Eleka, had was a vote for stomach infrastructure? That means, Fayemi must see a median between his lofty philosophy of governance and the quiet rumblings from society’s ether. Some eyewitness accounts of those who thought Eleka prematurely won chanted in Yoruba, “oju ti owo. Oju ti agbara.” Translation: “shame on money. Shame on power.”

    Yet, we cannot blind our eyes to a common story from reporters. Both sides turned election into a sort of bazaar. Money sprayed on voters. Some are saying that the people voted for the highest bidder. In Ondo, they called it “di’bo ko se’be” – vote and cook a soup. In Ekiti, the refrain was “see and buy.” If it was a battle for the highest bidder, there was no innocent party. The guilty one was our brand of democracy.

    In this age, democracy is still a bourgeois ideology. It lacks the innocence of its beginnings in Athens, a thing lamented by philosopher Hanna Arendt in her classic, The Human Condition. Political scientists say, money is the mother’s milk of politics. So, does it mean that Fayemi won because he outspent Fayose? That may be an oversimplification. But some analysts think, in an ambience of poverty, especially when civil servants had not been paid for many months, money was a great catcher.  So, are we practising cash-o-cracy or buy-o-cracy? Maybe it is one tragedy our babyish democracy thrusts on us.

    Lincoln, perhaps America’s best, often said his best triumph as president was the Emancipation Proclamation. But he could not get it through Congress without bribing. There was, in spite of Lincoln’s great morality, a Machiavellian impulse. We ought to learn from their beginning, not copy, or console ourselves that filth is permitted with the lucre at this stage of our democracy. If that is the way of politics now, it means the new rigging is not to bully the ballot but sully the mind. To rig, first rig the voter’s mind. That is the definition of rigging at source. No bloodletting. No roughnecks bearing guns.

    So, is it possible for Fayemi to ignite the common touch now.  The election shows the majority want it the Fayemi way, perhaps with the proviso that he is less lofty, his voice less granite, his eyes in softer hue.

    Fayose’s desperation in announcing the result was an act of subversion, not permissible in a democracy. It was an admission that he had lost the argument. He has opened the doors wide for his foes to floor him without a fight. He has governed with the principle of the id as official ID.

    Now, Fayemi has a chance to return. It will begin like Jesus’ return to Jerusalem in pomp. But in Shakespeare’s words, “all is well that ends well.” In four years, that is. Will the return of the native look like Thomas Hardy’s novel of that title where the novelist is not sure whether the native’s return ends in a romance or estrangement? Dr. John Kayode Fayemi has the opportunity to write that testament.

  • Adaora Ukoh returns with #Feedthestreet

    Plus-size actress, Adaora Ukoh, having been off the movie scene for quite a while, is set to return with the launch of a non-governmental organization to help spread the news of early detection of cancer in women.

    Called #feedthestreet, the actress and her team will be speaking to women to help reduce the high rate of the deadly disease.

    The foundation, as revealed by the actress, is borne out of the cause of “Help Jennifer Fight Cancer Campaign”.

    According to her: “I kept having this feeling that I should reach out and do more, so on my birthday, God put it in my heart to kick-start a foundation to basically do two things. Help women get early detection for any type of cancer that basically attack the women folks; breast cancer, ovarian cancer, cervical cancer.

    “Early detection is the best cure. Get tested today. Jennifer never got screened or tested not even when the ailment had started due to funds. I can bet Jennifer never knew what she had until it deteriorated. So in that spirit of reaching out I decided the best way to celebrate my birthday for the first time, I will cook, share my cakes , drinks, give them some supplies to a hundred beggars on the street in an initiative called #feedthestreet.

    “Breast cancer is super deadly and the fight to stay alive through it all….. i visited Jennifer’s hospital bed in Abuja and I can see through her pains to stay alive. We are committed to this cause and God will see us through,” she stated.

  • Body of Filipino found in freezer in Kuwait returns home

    The body of a Filipino domestic helper found stuffed in a freezer in Kuwait was returned to the Philippines yesterday , as the government promised more support to its nationals working abroad.

    An autopsy revealed she was beaten up and suffered broken ribs and  internal bleeding.

    “Her death was very tragic, but will also be a rallying point for all of the government agencies to more aggressive abroad in helping overseas Filipino workers,” said Foreign Secretary, Alan Cayetano.

    Cayetano, who joined other government officials and Demafelis’ relatives in receiving the victim’s remains, said the government was working to step up assistance for Filipinos abroad.

    “We’re putting a system of communications with our millions of overseas Filipino workers abroad due to many cases of abuse,” he said.

    Labour Secretary, Silvestre Bello, earlier recalled the welfare officer of the Philippine Overseas Labour Office in Kuwait after Demafelis’ family complained they did not receive assistance from her.

    Bello ordered the recall after rejecting the explanation of Sarah Antonia Concepcion for failing to help Demafelis’ family.

    “Her explanation is that there was too much work,” he said.

    “That’s not a good explanation. If you can’t handle such work, you can leave. If you can’t handle your job, come back to the Philippines.”

    President Rodrigo Duterte  of the Philippines had  asked his fellow men and women to shun going to  Kuwait for job,citing  abuses and maltreat of Filipinos in the Gulf state.

    On February  9, Duterte asked private airlines to evacuate Filipinos  from Kuwait within 72 hours after the discovery of a Filipino migrant worker dead in a freezer.

    An emotional Duterte live on television showed graphic photos of the body of a Filipina found in the freezer of an abandoned apartment in Kuwait and made a plea to Gulf states to treat his countrymen with dignity.

    The tough-talking leader said his suspension on sending workers to Kuwait, announced in January after a series of deaths of Filipino workers, would remain indefinitely.

    He warned of “drastic measures” to prevent further loss of lives. He did not say what that would be.

    The Kuwait government could not immediately be reached for comment.

    No fewer than  250,000 Filipinos work in Kuwait according to the foreign ministry in Manila.

    Most of them are domestic helpers. There are also large numbers in the United Arab Emirates, Saudi Arabia and Qatar.

    Authorities also said no fewer than 2.3 million Filipinos are documented as working abroad.

    Collectively they remit more than $2billion of their income back to the Philippines every month, money that fuels consumer spending in one of the world’s fastest-growing economies.

  • Big Brother Naija returns Sunday

    Big Brother Naija returns Sunday

    The highly anticipated third edition of Africa’s biggest reality television show, Big Brother Naija, premieres on Sunday, January 28, 2018 by 7pm Nigerian time.

    Organisers say viewers on DStv can catch the show on channel 198 while GOtv viewers can tune in to channel 29 to catch all of the excitement, as contestants battle for the grand prize of an SUV and N45million worth of prizes.

    The premiere follows weeks of excitement as auditions for the show held across different regions in Nigeria. Big Brother fans were also treated to nostalgic fun as housemates from the second edition gathered for a special reunion show broadcast exclusively on DStv and GOtv.

    Speaking on Big Brother Nigeria’s return, the General Manager, Sales and Marketing for MultiChoice Nigeria, Martin Mabutho, said: “Without a doubt, this promises to be the most exciting edition of the Big Brother franchise on the African continent. The last edition of Big Brother Naija was incredibly successful and we see just how much the show continues to resonate with fans in Nigeria and around the continent. We can hardly wait for Sunday, and we guarantee not only that our viewers will enjoy the premiere show, but that they will stay tuned for three months until the show’s finale when the winner is revealed.”

  • NSE bans guaranteed returns on investments

    NSE bans guaranteed returns on investments

    Investors must not expect any guaranteed returns from their transactions at the Nigerian Stock market and stockbrokers must not make any promise of such guaranteed returns in their dealings with investors.

    The Nigerian Stock Exchange (NSE) has concluded arrangements to enforce a blanket ban on any form of guaranteed returns by stockbroking firms, as part of efforts to clearly outline the risk horizon of quoted securities and plug any loophole that has lured many unsuspecting investors into bogus investment schemes.

    A circular issued by the NSE and obtained by The Nation at the weekend, indicated that the Exchange would be launching a major enforcement framework against transactions based on guaranteed returns.

    According to the draft rules, all stockbroking firms, or dealing members shall not enter into any business relationship with a client premised on a guaranteed return to the client, and this caveat of no guarantee shall be stated clearly in communications to the clients.

    With this, stockbroking firms and dealing members shall not guarantee, directly or indirectly, a customer against loss in any account or in any securities transaction executed by the dealing member for such customer, or previously agreed with the customer on a profit margin.

    The new rules seek to impose stiff penalties on defaulters including expulsion, suspension and monetary fine.

    According to the draft framework, the Exchange may exercise all or any of the following disciplinary sanctions against any dealing member that violates the “no guarantee return” rule including suspension of the dealing member from trading on the floors for a period not less than 10 business days and suspension of the stockbroker for a period to be determined under the disciplinary process of the Exchange, and or revocation of the registration of the stockbroker involved.

    Also, where a dealing member offers a guaranteed investment product to its clients with respect to investment in securities, the sanction shall be a fine not less than N5 million, and a further penalty not less than N20,000 for every day from when the firm is sanctioned by the Exchange until the dealing member completes the payment of the fine.

    Besides, where the compliance officer of the dealing member has knowledge of a violation of this rule but fails to report to the Exchange, such a compliance officer shall be blacklisted while the dealing member may be expelled from the Exchange.

  • Toyin Abraham returns

    Toyin Abraham returns

    After the demise of her father, Nollywood actress, Toyin Abraham, who took a break to attend to his laying to mother earth, is back.

    She is currently on set of ‘Naked’ a movie by Titi Jeje, director of ‘Alakada Reloaded’

    Having gone through an emotional period, the actress who is yet to get over the death of her 80 years old father had this to say: “I’ve gone through different emotions in the past one week and few days. Emotion of loss and gratitude top all others.

    “I am sad about the loss of my 80 years father. We were close. I was his baby. So, it’s a huge loss for me to bear. At the same time, I am grateful for a life well spent. I was proud of him and his level of involvement with us and humanity around him. I miss everyone here and particularly overwhelmed today when you all tried to draw me out of my hiding place. I see you all and appreciate you. This is going to be a good month, let’s rock and roll to the beat of greatness.”

    The actress announced the passing away of her father last month.

  • Returns on social media investment: elusive or illusive?

    Returns on social media investment: elusive or illusive?

    With my experience, social media should just be a component of your marketing strategy and not the centre of it. The return on investment is low. That is why start-ups who focus on social media fail”.

    This was the opinion of a tech evangelist and Chief Executive Officer  of TychZoe Global Network, Shaba Okare Michael. He is one of the few tech enthusiasts who believe that the return on investment (RoI) of social media marketing is a mirage.

    Multinationals’ executives  have refused to discuss the results of their social media engagement and RoI. Small businesses are not tracking RoI; they just believe it works. When asked if social media really delivers, Tofunmi Akinseye, of lifestyle-entertainment magazine Savvy, said: “Yes, this isn’t supposed to be a debatable topic at a time like this when we have increased smartphone users and adoption.”

     

    That’s the euphoria.

    From social media consultants, all you have are analytics that pictured social media impressions, reach and followership. Michael Oluwasegun, strategist with Social Handlers, attempted to illustrate what RoI is for a recent campaign, #RideShareWeekNG.

    In July the campaign led to an increase of over 75 per cent in inbound traffic for gomyway.com and 60 per cent growth rate in engagement and followership,” he said.

    Social Media’s RoI is a measure of the profit generated by social media engagements and ads relative to the cost of those engagements and ads. RoI is a business-centric metric that is connected to a company’s bottom line unlike Return on Advertising Spend (RoAS), which is a measure of gross revenue generated for every naira spent on advertising.

    A close observation of social media pages suggests that brands are unknowingly spending to grow a community of fans, prospective clients and customers. If what brands do is growing communities, then how do they get return on such investments?

    “I believe the community factor is one of its’ strongest attributes”, explained Susan Onigbinde, founder of Dodo Design agency. “It also drives brand loyalty, because people who now share the same values as your company start to develop a connection with your brand”, she added. Tofunmi Akinseye explained what this “connection with your brand” could birth, arguing that it “leads generation to product awareness, product engagement, brand/product retention and ultimately sales”.

    But RoI of social media is not evidenced by making sales. Sales could be direct or indirect effect of some other marketing initiatives or the product itself.  RoI for social media is difficult to track, “because it can be difficult to collect data and exact customer behavior leading up to a sale”, according to Cannon Tekstar Hodge, a social media strategist and writer based in Los Angeles.

    It is either Social Media’s RoI is difficult to track or it is a fantasy. The clicks and impressions may not signify an intention to “connect” or “purchase”, it may be an indication of social media addiction explained as “operant conditioning” by psychologists. Operant conditioning, as explained by Entrepreneur Network partner Ben Angel, suggests that people post, click and share on social media to get a psychological feeling of reward.

    A global study released by the International Center for Media & the Public Agenda (ICMPA) at the University of Maryland, reveals that social media addiction is rampant among college students. The participants of the study were made to abstain from social media for 24 hours. One of the participants noted: “I was itching, like a crack-head, because I could not use my phone.” Social media is a lifestyle, and most users are there to indulge and pass time. Your product is not the attraction.

    The founder of Disrupt Digital, David Idagu Goldfinger advised that “the website and other activities outside the social media platforms is what convert the traffic to sales”. Jide Bamidele, a certified e-campaign expert and founder of Spark Conect warned that “Social media should not be the strategy in itself but a major part of the overall marketing strategy”. He advised organization to align online activities with offline activities to convert social media leads.

    Tech innovator Shaba Okare Michael claimed that social media consultants know that social media does not work but “they have to make money”. He however posited that “Social media is not a failure in itself. It does work for events and social stuff. But for sales, it does not work as such”. The logic in the statement is that events and social causes need “human traction” while profit-inclined businesses need “sales traction”. It is hard to argue against Shaba with the dearth of data on RoI of social media.

    Before you debate this, consider the presentation of Coca-Cola at the Advertising Research Foundation’s 2013 Conference in New York. At the conference, Eric Schmidt, Senior Manager (marketing strategy and insights) at Coca-Cola said “we didn’t see any statistically significant relationship between our buzz and our short-term sales”. Thus, this debate is about statistics and social media RoI remains either elusive or illusive until we have the data.

     

  • Mr Shaa returns with ‘I No Well’

    Mr Shaa returns with ‘I No Well’

    Up and coming musician, Mr Shaa, has released his latest studio effort titled ‘I No Well’ which he describes as a warning alert to the music industry to be aware of his arrival in to the scene.

    Mr Shaa whose real name is Benjamin Florence stated that unlike what the title implies, he isn’t ill health wise but with the microphone.

    ‘I No Well’ audio was released on Sunday alongside its visual and is available on audio and video platforms for streaming.

    The artiste, who shuttles between Lagos, Ghana and the US, stated that his passion for music has been the secret behind his consistency in the industry since he started few years back.

    “If not for the passion, I won’t be consistent for like seven years in the industry,” he said.

    He also revealed that he sees the music industry as an avenue to make money while following his passion.

    “I no like suffer oh! I dey industry to make money I no go lie. So I go start to dey sing and make e dey blow so I go dey make money.

    “I came into the industry for money and also to show myself. And when you dey show yourself, you gat to dey make the money and if you no get anything to show again, you gast go find so you go remain relevant in the industry to continue to dey make the money.”

    Speaking about his goals, Mr Shaa said he has plans to venture into the movie industry when the time comes.

    Other songs by Mr Shaa include; My lover, Sugar, Oyajo and Show Dem.

  • Banking stocks lead returns at stock market

    Investors in banking stocks earned as much as a double of any other average investor in the Nigerian equities market in the first half of this year.

    A six-month review of sectoral indices for the period ended June 30, 2017 at the weekend showed that banking stocks significantly outperformed the benchmark index and other sectoral indices at the Nigerian Stock Exchange (NSE).

    The NSE Banking Index, which tracks price appreciation in the most active banking sector, indicated average year-to-date return of 45.08 per cent for the first half, almost a double of the average year-to-date return of 23.23 per cent for the overall stock market.

    The NSE Industrial Goods Index, which includes Nigeria’s most capitalised company-Dangote Cement, recorded the second highest return with a six-month return of 21.12 per cent. Expectedly, the NSE 30 Index, which tracks the 30 most capitalised stocks that largely comprise of banking and industrial goods stocks, recorded average return of 25.87 per cent within the period.

    With the exception of investors in the emerging stocks segment of the market, other tracked indices showed modest positive returns within the period. The NSE Insurance Index recorded a return of 9.16 per cent. The NSE Consumer Goods Index posted a gain of 11.61 per cent. The NSE Oil and Gas Index recorded the lowest return of 3.35 per cent on the main board.

    The NSE Lotus Islamic Index, which tracks stocks that comply with Islamic investment guidelines, indicated a return of 11.15 per cent.

    Meanwhile, pensioners appeared to be in for wider dining tables as the NSE Pension Index, which tracks a portfolio of stocks specially screened for pension investment in line with the pension investment guidelines, posted a return of 42.92 per cent.

    However, the NSE ASeM Index, which tracks equities on the Alternative Securities Market (ASeM) for emerging stocks, posted a negative return of 1.27 per cent within the first half of the year.

    Also, investors earned net capital gain of N344 billion during the three-day trading session last week. Aggregate market value of all quoted equities at the NSE rose from the week’s opening value of N11.108 trillion to close the week at N11.452 trillion, representing net capital gain of N344 billion. The benchmark index for the stock market, the All Share Index (ASI) also rallied from its index on board of 32,122.14 points to close the week at 33, 117.48 points.

    Total turnover stood at 1.171 billion shares worth N11.458 billion in 13,763 deals during the three-day trading session compared with a total of 2.311 billion shares valued at N24.577 billion traded in 27,836 deals in the previous five-day trading week.

    The financial services sector led the activity chart with 899.307 million shares valued at N6.779 billion traded in  7,977 deals; thus contributing 76.78 per cent and 59.16 per cent to the total equity turnover volume and value respectively. The conglomerates sector followed with 111.022 million shares worth N189.462 million in 952 deals while the consumer goods sector ranked third with a turnover of 56.912 million shares worth N2.373 billion in 2,055 deals.

    The three most active stocks were United Bank for Africa Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc, which altogether accounted for 499.566 million shares worth N3.717 billion in 2,954 deals, contributing 42.65 per cent and 32.44 per cent to the total equity turnover volume and value.

    Also traded during the week were a total of 869,680 units of Exchange Traded Products (ETPs) valued at N19.150 million in 16 deals compared with a total of 63,927 units valued at N841,330.04 traded in 11 deals in the previous week.

    In the debt segment, a total of 20 units of Federal Government Bonds valued at N16,487 were traded in a deal compared with seven deals struck for 2,212 units valued at N2.098 million in the previous week.

     

  • FBN Holdings eyes better returns with less risks

    FBN Holdings Plc, the holding company for First Bank of Nigeria and its former subsidiaries, has started implementation of key growth strategies that are expected to significantly reduce non-performing loans to single digit and simultaneously grow returns to shareholders considerably in the years ahead.

    The management of FBN Holdings yesterday presented the underlying facts of the group’s operations to the investing public at the Nigerian Stock Exchange (NSE). The financial services holding group said the ongoing growth strategies will boost its revenue and shareholders’ value, starting from the current business year.

    Group Managing Director, FBN Holdings Plc, Mr. UK Eke, said non-performing loans (NPL) would reduce to single digit within the next 24 months on the back of active remediation of top exposures. Already, about five per cent of the loan book has been restructured with oil and gas loans constituting 70 per cent of the restructured portfolio in 2016.

    He outlined that the group has set out six key targets that will reinforce the group’s overall performance in the years ahead including a single digit NPL, cost of risk less than two per cent, cost to income to be less than 50 per cent, enhanced revenue, return on equity to be greater than 20 per cent and improved dividend distribution.

    He added that the company is addressing the needs of its customers and stakeholder in delivering structural changes in risk-taking culture, processes and oversight; maintain sustained improvement of cost and capital efficiency; enhanced revenue growth across the group and create digital competency to enhance revenue and service delivery.

    Eke added that the subsidiaries under the Holdings company will execute innovation project to identify new revenue streams, saying there is a plan across the group to grow  20 to 25 million customer accounts within the current strategic cycle.

    He said that the company will focus on improving revenue generation across the group noting that the group’s investment banking and insurance businesses have been showing improved performance with 11.5 per cent and 18.7 per cent growth in revenue.

    He said that the group will draw on its extensive commercial banking retail network to deepen market penetration across the group pointing out that the group has started to reap benefit of its digital banking strategy with increased contribution from e-banking solution.

    The group’s firstmobile/online platform has seen some 900,000 users enrolled since inception in September 2015. With one million digital customers, there were 19.7 million transactions in 2016.

    Eke said one of the group’s priorities is to attract 25 per cent of the bank’s active customer base to digital channels by 2019 and to reach the unbanked and under-banked through agent banking.