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Home Blog Page 4143

The Three Pillars of the 48 Laws of Power By Robert Greene

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Robert Greene, an American classics scholar and writer, is no doubt one of the most admirable writers of our generation. His ‘’48 Laws of Power’’ is arguably the most commercially successful of his works. The 48 laws of powers is an exposition of a set of forty-eight laws that anyone who seeks to have and/or retain power should adhere to.

Robert Greene begins by identifying one of the things that evoke a sense of self in us — the feeling that derives from our ability to control events or influence people to do our bidding. This feeling brings to bear our hidden cravings for power. Thus, the inability to have control over events and people is described as strongly undesirable; it evokes a feeling of powerlessness. Powerlessness does not only make one feel miserable and inferior to others; it also constitutes a great obstacle in maximizing one’s potential and fulfilling one’s destiny.

Man is ‘’zoon politicon’’ argues Plato, the father of classical Philosophy. Zoon politicon translates to political animal. What Plato meant by this coinage is that man is naturally disposed to power play whether he is conscious of this or not. The struggle for power is the underlying factor behind every action of man or social relation.

Robert Greene probably had the foregoing Platonic worldview in mind when he conceived his 48 laws of power. Greene’s proposition is that power should be seen by man not only as a necessity for him to adapt in society but also as an inevitable force that shapes his social reality. There is no point avoiding the game of power when the world is a giant scheming court. However, in the course of attaining power, one must be careful not to be overt or eccentric. Standards must be set below and above which one must avoid. This is the rule of golden mean by Aristotle.

The following are the three pillars of the 48 laws of power:

 Self Mastery/Emotional Intelligence

One reason we need to master ourselves is because we have emotions. Emotions are not necessarily bad things about us; they are signals that alert us when we are up against a threat in our environment. However, we usually overestimate external threats. This leads to overreaction from us and could cause irreparable damage to both ourselves and the object of our emotional reaction.

There is a common saying that the master of his own emotion is the master of all. Feelings such as love, anger, hatred, passion, and dejection are some elements of our emotional life.  However one cannot repress these feelings and you should not endeavour to repress or avoid them when they surface. What you should avoid instead is making judgments based on those feelings. An emotional reaction to a situation does not only impair reasoning, it is prejudicial to sound judgment. It is like…..

When you are angered it is better to suspend your judgment than to make an irrational decision on the spot. More so, your love for someone or people should not prevent you from seeing them as human beings and by nature political animals.

Critical Reasoning

You want to consider all the possible contexts connected to the matter at hand. Critical reasoning helps you to not only identify a problem or threat but also help you to unravel opportunities within the identified problem. Distance yourself from the present moment and think objectively about the past and the future.  You should see the moment as the connecting point of the past and the future. Focus not only on what you have at the moment but on how you could use it to correct the past, learning from both your personal experience and the experiences of those above you.

The mistake that you have made and learned from may turn out to be your greatest advantage.

In Robert Grenees’ words, one must assume the image of Janus, the double-faced Greek god who secures all the gates and doorways. Hence, you must possess a double face, one to reflect on the past and the other to peek into the future concurrently. Also, while thinking about the future you must not be consumed in fantasy or illusion. That is you must not focus solely on the happy ending of your dreams. You must anticipate challenges and problems and prepare a defense against them.

Flexibility

According to Robert Greene, one adept at power play is able to assume different forms or shapes, cashing on the narrow and rigid mindset of the unsuspecting enemy. You must be able to put your critical thinking to use to devise more subtle means of navigating your obstacles. A master at power is not predictable. Sometimes he is a crook and other times he is a saint. He is whatever he wishes to be or whatever is required of him according to context or situation. This reflects the height of self-mastery and the basis of power. Thus, the powerful man always has an ace up his sleeve and he is one step ahead of the enemy.

By his idea of flexibility, Robert Greene invites us to be water just as the famous Chinese martial artist, Bruce Lee, would say, ‘’Be water, my friend’’. Water is a recurring metaphor in Lee’s philosophy. Water is perceived as a powerful adaptive element due to its ability to take different forms or shapes.

Nigeria Announces Plan to Unify Data Collection Through NIMC

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National ID Card, Nigeria

The federal government of Nigeria has announced its intention to harmonize data in a bid to end multiple identity registrations through the National Identity Management Commission (NIMC).

Nigeria is facing a challenge of data duplication with various agencies of the government, including the NIMC (national identity card), the Nigerian Immigration Service (international passport), and the Federal Road Safety Corp. (driver’s license).

Minister of Interior, Dr. Olubunmi Tunji-Ojo, who announced the plan while hosting a team from MTN management led by its Chief Executive Officer, (CEO), Karl Toriola, on Monday in Abuja, emphasized the need for Nigeria to harmonize its data.

“Data harmonization is key. If we must succeed at the Ministry of Interior, the success will start with NIMC. The integrity of our travel document must be restored through the harmonization of our data.

“This way, our people do not have to repeat data capture processes during the passport enrolment phase when they have a valid NIN,” he said.

According to the minister, the plan is to harmonize the country’s database in line with President Bola Tinubu’s mandate to the NIMC, which seeks to enhance Nigeria’s identity and security architecture.

He emphasized the need for an interior hub – a massive data center where “we will have all our identity information documented.” He said data harmonization will drastically cut down on stress for the people as well as overhead costs on the part of the government.

“When we harmonize our data, there will be an exchange amongst agencies such that when our people need data for passport or BVN, with their NIN, their data can be pulled out. This will not only save us stress, cost and energy but also help us optimize our processes,” he said.

The Minister emphasized the importance of private sector players, specifically mentioning MTN, in realizing the vision of harmonizing data. He stressed that in order to achieve this goal, it is crucial to establish mechanisms for private partnerships to contribute to the attainment of the objectives.

“For us, we are open to partnerships from private sector players, as NIMC may not have the full financial capacity to fulfill the ambition,” he said in a communiqué signed by his Special Adviser on Media and Publicity, Alao Babatunde.

Dr. Tunji-Ojo elaborated that various forms of data, including the issuance of driving licenses, passports, Bank Verification Numbers (BVN), National Identity Numbers (NIN), Subscribers Identity Modules (SIM), and others, should be integrated into digital chips.

This integration serves the purpose of streamlining and optimizing the planning and execution of government programs aimed at expediting development.

He further emphasized that the NIMC, as an agency falling under the ministry’s purview, has the potential to revolutionize the current scenario, where the country relies on a single point of data entry.

“There is no need for us to have a BVN number, a voter’s number, an NIN, and a passport number all at once, and this is why we have to work with NIMC to ensure that we harmonize all these and do away with these duplications.

“If NIMC performs well, NIS will perform better, and the police, NSCDC, and other agencies will perform admirably above par.” he notes.

Organizing Nigeria’s Informal Sector Across Sectors (Retail, Fashion, etc) is Growing Faster than Fintech

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We began tracking this sector after it showed clearly on our radar that despite all the digitization playbooks, a big component of Nigeria remains outside the digital world. Yes, the Naira redesign showed that we have a lot of work ahead, just as the pandemic made it clear that our universities were not  networked and wired for the online age, despite all the promises.

Good People, retail B2B in Nigeria is doing really well.  As US dollars separate from the Naira with our deteriorating exchange rate, the makers’ cities like Aba and Kano are having moments. The data shows that most importers are now looking inwards to serve their markets. And companies working to formalize those markets are capturing massive value.

That tailor, that shoemaker, that bag-maker, and others offer huge latent opportunities which could be unlocked. Tekedia Capital is going to invest 100% of the round-funds by one of the players in this space in our next investment syndicate which begins on Monday. Led by bankers, but connecting shop by shop in Kano, Aba, etc, they’re growing at great percentages.

In this sector, you can decide to organize tailors, shoemakers, etc for a broad retail fashion sector. You can also focus on FMCGs and basic household needs. In other words, organizing these domains now that few can import due to exchange rate, is at the moment, growing faster than the average growth rates of fintech companies. Lagos shoe importers are now bulk-buying at Aba.

There are massive trade services available in the value chain and I expect massive growth in this sector, even if the Naira recovers. I do think  now that people cannot afford the Italian shoes, and are giving Aba a look, most will realize that Aba does make good shoes. The same is happening on suits, dresses, etc across the country with Kano and Ibadan showing on the antenna.

At Tekedia Capital, we’re investing, picking one of the leading firms, already being provided support by the Bank of Industry, which has unveiled a nice playbook. This startup’s numbers are outperforming the averages from the fintech space we are seeing.

Nigerian Senate Confirms Yemi Cardoso As Central Bank Governor

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The Nigerian Senate has officially confirmed the appointment of Dr. Olayemi Michael Cardoso as the Governor of the Central Bank of Nigeria (CBN), along with his deputy governors, shortly after they assumed office.

The Senate’s confirmation on Tuesday also extended to the nominees for the deputy governorship positions, who are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

Last week, Cardoso and his four deputies assumed office amid Nigeria’s wildling forex crisis, which requires urgent monetary policies from the CBN to tame.

Following their screening, the President of the Senate Godswill Akpabio disclosed that the nominees had been confirmed.

“The nomination of Olayemi Cardoso is hereby confirmed as governor of the Central Bank of Nigeria (CBN),” Akpabio said.

Before their confirmation, the nominees had answered questions on matters related to economic and other policies. One of the questions put to Cardoso by Akpabio is if he would allow himself to be influenced and hijacked by politicians when he assumed office.

In response, the CBN governor said, “It is important that we, who are considered for this position today, understand that this is a position of trust.

“With that comes a huge responsibility to meet up with that trust. I know that a lot of time and effort has gone into choosing the people who are standing here for nomination today.

“As far as I am concerned, under my leadership, we will not be hijacked by anybody. The idea is to ensure that we do what is right, when it is right, and how it is right. We’ve seen what the effect of not doing right has been, and we do not intend for that to be repeated.”

He also promised to embrace compliance, assuring that under his leadership, the apex bank would remain apolitical.

“I believe that the Central Bank under our watch will have no choice but to embrace a culture of compliance,” he said.

“We will not wait for oversight to come and tell us what to do. We will ensure that by the time the system is passing through us, we catch it and we deal with it,” said Cardoso who promised zero tolerance for abuse of compliance.

“That is a cultural shift, a change in mindset, but we will make sure it happens,” the former Citibank Nigeria chairman assured.

The questions are believed to stem from the antecedents of his predecessor, Godwin Emefiele, who apart from meddling in politics, illegally printed N23 trillion loaned to the federal government through Ways and Means advances. The development violates the CBN Act which prohibits the apex bank from loaning more than 5% of the country’s previous year’s earnings to the federal government.

Economists said the loan is partly responsible for Nigeria’s rising inflation, which is at 26% as of August.

Emefiele is currently being prosecuted by the federal government for numerous offenses he committed while in office, including allowing himself to be influenced by former President Muhammadu Buhari to violate economic laws.

Cardoso promised not to tow Emefiele’s path, emphasizing that he would restore good corporate governance and a culture of compliance to the CBN, with an aim of achieving a $1 trillion GDP in 8 years.

South Korea’s city Set to Launch Crypto Exchange

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The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/Files

The city of Busan, South Korea’s second-largest city and a major port, is preparing to launch a digital-assets exchange in November, according to local media reports. The exchange, which will be operated by the Busan Metropolitan Government and the Korea Asset Management Corporation (KAMCO), will allow trading of various digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and digital securities.

South Korea is one of the most technologically advanced and digitally connected countries in the world, with a strong interest and enthusiasm for emerging technologies such as blockchain and digital assets. The country has a large and active digital asset market, with millions of users and billions of dollars in trading volume. However, the regulatory landscape for digital assets in South Korea is still evolving and facing some challenges.

The exchange is part of Busan’s efforts to become a leading hub for the digital economy, following its designation as a “regulation-free zone” for blockchain and fintech innovation in 2019 by the Ministry of Science and ICT, the Busan Metropolitan Government, and several private sector partners, with the support of the National Assembly. The city has also been developing various projects related to digital assets, such as a blockchain-based local currency, a digital art platform, and a smart city platform.

The exchange will be regulated by the Financial Services Commission (FSC), the country’s top financial regulator, which has recently tightened its oversight of the crypto industry. The exchange will have to comply with the FSC’s requirements for anti-money laundering, customer protection, and reporting. The exchange will also have to obtain an information security management system (ISMS) certification from the Korea Internet and Security Agency (KISA) before launching.

The project consists of two main components: a regulatory sandbox and a blockchain-based platform. The regulatory sandbox allows blockchain companies to test their products and services in a designated area of Busan, without being subject to existing regulations that may hinder their development. The sandbox covers various sectors, such as finance, tourism, logistics, public services, and healthcare.

The blockchain-based platform is a comprehensive system that integrates various blockchain applications and services for the benefit of the citizens and businesses of Busan. The platform aims to provide solutions for various challenges and needs, such as identity verification, digital asset management, smart contracts, data sharing, and social welfare.

The Busan Blockchain Project is expected to bring significant benefits to the city and the country, such as:

  • Enhancing the competitiveness and innovation of the local economy.
  • Attracting foreign investment and talent.
  • Creating new jobs and industries.
  • Improving the quality and efficiency of public services.
  • Increasing the transparency and trust of transactions.
  • Promoting social inclusion and participation.

The Busan Blockchain Project is not only a showcase of the potential of blockchain technology, but also a vision for the future of urban development. By leveraging the power of blockchain, Busan aims to become a smart city that is more connected, resilient, and sustainable.

The future of digital assets in South Korea depends largely on how the regulators and policymakers will address these issues and establish regulatory clarity and certainty for the industry. South Korea has the potential to be a leader in the region and globally in terms of adoption and regulation of digital assets, but it needs to adopt a clear taxonomy for digital assets aligned with global standards, balance innovation and risk management in the sector, and provide a supportive environment for VASPs and users.

The exchange is expected to attract both institutional and retail investors, as well as local businesses and startups that want to issue or trade digital assets. The exchange will also provide educational and consulting services for potential users and issuers of digital assets. The exchange aims to become a leading platform for the digital economy in Asia and beyond.