DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 4779

The Nigerian Civil Service Needs To Improve on Governance

0

Anytime I have a reason to visit a federal government agency, ministry, or parastatal, it reinforces in me the unpopular belief that the Nigerian civil service is the most corrupt sector in Nigeria.

They are abysmally and irredeemably corrupt. 

Politicians cannot even compete or rub shoulders with most Nigerian civil servants when it comes to corruption and ineptitude. The Nigerian police pride themselves as the most corrupt sector but they are just notorious and good at displaying their own corruption; they should rather take a tour to a government agency or ministry or any government-owned business with a note and take some lessons. 

They are “all learners” when it comes to corruption. Most Nigerian civil servants, from the top to bottom are the kings of corruption but it seems we are not ready to have this conversation yet. 

A government that is serious about fighting back against corruption in Nigeria should pay more attention to the civil service. That sector is rotten and takes supernatural and brutal intervention to cleanse it. 

Civil servants openly display their corruption and ineptitude while letting you know that “that’s how it is done here”. 

A policeman or a politician may occasionally show some sense of remorse and have some sense of guilt when he is asking for some kick back but that is not for civil servants. Right from the gate of most government agencies, it’s all about extortion and brazen display of bribery because they believe that “that’s the modus operandi there” and if you do not settle you are not ready for business. 

From the gatekeepers manning the security posts feigning over-familiarity at visitors so as they can “drop something”, to the persons in the office you are going to meet openly asking you to “drop something” or “shake body” before they can grant you audience.

What irks me the most is that they do this brazenly with no sense of guilt as if they are doing the right thing. Fun fact; most of them actually believe they are doing the right thing by constantly telling visitors that “that’s how it’s done here”. 

Let me not even get started on the level of ineptitude that goes on in government agencies. Most employees of the government lack the basic skill, knowledge, or basic qualification to occupy the positions but based on favoritism and nepotism we have a lot of civil servants who can not even spell or write down basic English occupying high-profile positions in the civil service.

Should we rather talk about the fact that some civil servants turned their offices into actual marketplaces? If you go to some ministries, you will be shocked to see some staff of the ministry leaving their duty posts or offices to go and hustle their side businesses. Some of the staff even come to the office with a “side hustle”, some will be using their official desk to display their wares and haggle sales. Some sell peanuts, cakes, Chinchin, sachet water, chips, cold zobo, recharge cards, and all sorts of junk, while some display posters for their POS business inside the office and task visitors and colleagues to patronize them. In most government offices, you can no longer tell if you are in an office or inside Wuse Market. 

It is pathetic. 

It was the Nigerian civil servants that originated the popular parlance “dem no dey carry government work for head”. This is their mantra and they live by it. Little wonder that a civil servant will stay off work for days and he will be sure that by the end of the month he will get his salary in full with allowances. Those that come to the office will gather around and use office time to gist and gossip with colleagues while visitors that they need to attend to wait around. A woman in a government agency once told me; “Oga wait make I discuss finish then I will attend to you”. She’s asking me to hold on, for almost an hour while she chats and gists with her colleague on a matter totally unrelated to official work.

Should we talk about their level of nonchalance in attending to work? A civil servant will misplace an important file and nothing will be done to him. A civil servant has also told me one certain time, “we cannot find your file, you will have to go and bring another one”, with a dry face and no sense of remorse. 

Are we ready to have a conversation about how the secretaries of the “Ogas” act like mini gods? It doesn’t matter who you are or how important your matter is, if they don’t want you to see the Oga you will not until you “wet the ground”, “shake body” or “drop something” unless you have a personal relationship with the Oga.

If we are really serious about getting rid of corruption in Nigeria, the Nigerian civil service is the root and bane of it all and that is where a serious government should pay more attention to. They are highly corrupt, irredeemably corrupt and it requires a brutal cleansing to get rid of some of these bad habits. 

 

Explore Stanbic IBTC Pension Managers – A Great Pension Fund Administrator (PFA)

0

How can we maintain the same standard of living years after retirement? How do we ensure that we do not run out of cash and goodies of life when we are done running shops in Onitsha, working in big banks in Lagos, playing in sports teams in Kano, or running transportation businesses in Yola? The man nicknamed “king of money” in his active professional days is now a “beggar”, looking for handouts from friends and families. That must change across families and communities in Nigeria, through planning.

On this, I am very happy to support the message of Stanbic IBTC Pension Managers as it educates and informs everyone on the importance of having a pension plan, irrespective of how high or low we earn. The Pension Fund Administrator (PFA) leader which has provided grants to many people in the Tekedia Institute program has, through the ‘Make Extraordinary Happen’ campaign, enlightened individuals on financial fitness, which helps them learn how to thrive financially during their active work life.

The PFA provides planning tools like the smart budgeting tool and Pension calculator on its website so people can know exactly what to contribute that will guarantee their monthly payouts at retirement. Stanbic IBTC Pension Managers has also emphasised its dedication to supporting the dreams of everyday Nigerians who are working hard to attain financial independence, and who dream of enjoying an extraordinary post work life.

Nigeria has advanced on pension reforms across many domains. And players like Stanbic IBTC Pension Managers have brought improved quality service, technological innovation, and cost efficiency, providing a path for extraordinary post work life to become a reality. Click here to join this remarkable PFA.

MTN to Receive €100m Credit Facility From European Investment Bank (EIB) to Enable Network Expansion

0

Multinational telecommunications company MTN Nigeria is set to receive €100 million credit facility to enable it to speed up its network expansion program.

According to MTN, the investment will assist in the acceleration of its 4G network coverage in Nigeria, also expanding broadband access in line with the company’s 2025 strategy.

Speaking on the recent deal with European Investment Bank (EIB), MTN Nigeria’s Chief Executive Officer Karl Toriola said that the €100 million fund to be received, will enable the company to drive innovations that will be beneficial to its customers.

In his words, “We are committed to the leading digital solutions for Nigeria’s progress. This requires the continuous upgrade and expansion of our infrastructure to enable us to deliver superior service. The EUR 100 million financing agreed with the EIB will accelerate 4G coverage, enhance network capacity and drive innovation that will benefit our customers.”

Also commenting is the Vice President of the European Investment Bank EIB Ambroise Fayolle, who said, “Accelerating large-scale investment in the telecom network is essential to ensuring reliable access and enabling daily living and economic activity.

“The EIB is committed to unlocking transformational digital investment across Africa and is pleased to provide EUR 100 million backing for MTN Nigeria’s ambitious network expansion program.”

Two years ago, MTN disclosed plans to prioritize the expansion of its 4G network, which it stated that it was working out plans to increase the network across the country from the existing 40% coverage, to also cover more rural locations in Nigeria.

With the recent €100 million fund MTN is about to receive, it will enable the telecom company to expand its network to a large portion of areas in Nigeria. This investment in infrastructure will enable MTN to accelerate its 4G network expansion, deepen population coverage, and support the Federal Government’s broadband initiatives.

As of Q2 2022, MTN Nigeria commanded 38.9% of Nigeria’s mobile users, with 74.1 million subscribers. By the end of this year, the company has disclosed plans to cover about 80-90 percent of the population

In August 2022, MTN became the first telecommunication provider in Nigeria to roll out the 5G mobile network. Currently, the network is available in 10 States, and on a total of 195 MTN sites.

Its 5G router’s pricing is 10x more expensive than the 4G router, as the company is looking to capture more of the high-value segment of the Nigerian market, rather than the mass market the company has chased and conquered in the past.

Firms in Nigeria Resort to Hiring of Freelancers Due to Tech Talent Shortage

1

The surge in the migration of Nigerian tech talents to Europe and other parts of the world has posed a serious challenge to firms as they are faced with a tech talent shortage.

So many firms in Nigeria are currently hiring freelancers, most especially freelance software developers for contract jobs, in a bid to bridge the tech talent shortage in the country.

Reports disclose that Freelance.com, the world’s largest freelancing, and crowdsourcing marketplace, has seen the number of requests for software developers rise to 54 percent in the third quarter of 2022 when compared to 2021, ranking as the fastest-growing skill compared to others.

The report also showed that jobs for coding ranked as the second-highest growing skill, moving up 45 percent, while backend development followed closely with 37 percent.

According to reports, the hiring of freelance developers in Nigeria has skyrocketed due to the migration of tech talents out of the country. In a bid to cushion this effect, most companies disclose that they had to resort to hiring contract developers/ freelancers.

However, some disclose that they prefer to employ long-term talents who will always be around at a given point of need, noting that they are left with no option to hire contract tech talents due to the brain drain in the country.

In the banking industry, the mass resignation of skilled tech professionals is already causing a severe strain on digital financial operations such as mobile transfers and Unstructured Supplementary Service Data.

In June this year, customers stormed banks to make complaints about the challenges they are facing with transaction issues. These complaints were centered majorly on network problems.

Experts have disclosed that the high exit of tech talents from these banks is a huge problem, because holding on to them has become a problem due to mobility and options available to developers today.

Employers are finding it hard to get them replaced, and even when they finally get replacements, it won’t be long before that tech talent tenders his resignation letter in a bid to migrate to Europe.

Previously, most firms in Nigeria struggled with allowing tech talents to work remotely, which a large percentage of them are not cool with. However, they are now beginning to loosen up as they now permit these tech talents to work remotely.  More so, business training in Nigeria  remains key besides the tech.

Currently, Nigeria is competing for the few remaining tech talents against European countries, and it is unfortunate that the country seems to be losing these talents to European countries on countless occasions. The brain drain has no doubt posed a great challenge to organizations and is seriously threatening local tech talent recruitment. 

The Emefiele music of Changing Naira notes, eNaira and Domestic card scheme

3

Running the Central Bank of Nigeria is a challenging job. Most people think that the CBN governor has a magic formula to deepen the strength of the economy and the currency without efforts from the ministries of science, agriculture, etc. So, if the Naira falls, call the CBN governor. Unfortunately, in all nations, the strength of currencies comes from warehouses and factories (the old industrial type of Dangote Cement and the modern type we see in startups like Egoras). Yet, we see the money shrine in Abuja as the best temple to decide the fate of Naira.

Of course, the CBN has a role to play on how those factories operate through monetary policies which affect many things in the  economy. As we evaluate those, Godwin Emefiele comes into that view. When he called the deal to change the Naira notes, I had expected many to just THANK HIM.

But it seems there is nothing he can do that will win the hearts of the majority. That policy is a hat trick even though there were goals against,  but generally it is a game we can all enjoy to see how it plays out. But that may not be the only thing.

Yes, “The Central Bank of Nigeria has said it would launch a national domestic card scheme on January 16, 2023.The scheme will be launched through the Nigeria Inter-Bank Settlement Systems (NIBSS) in partnership with the Bankers Committee….The bank said apart from fostering innovation within the Nigerian domestic market, the scheme would allow banks to offer a variety of solutions including debit, credit, virtual, loyalty and tokenized cards amongst others. …But a national domestic card is expected to rival Visa and Mastercard, the market’s biggest players.”

If this card system goes ahead, Verve from Interswitch will have a major competition. You can also say that for Visa and Mastercard cards within Nigeria. But it is not clear how the CBN card will be integrated into the global payment system.

While we commend CBN for these ideas, it has to watch how it is reshaping competition, and making it likely not exciting for private sector banking players to have motivations to invest in innovation. We have e-Naira. Now, they are bringing a domestic card scheme which I think is a great idea except that allowing the apex bank to run it, instead of going through the consortium of banks, may send the wrong signals.

Emefiele is playing many drums, he is hoping that Nigerians will dance along. He needs to watch carefully as he can create uncertainty that many will not care to invest in the financial sector since it appears the government via CBN can do everything. This is not to say that a domestic card scheme is bad in any way!

All Together {LinkedIn Summary)

Not sure how to summarize this one here. But I want to note that the Central Bank of Nigeria (CBN) has had a lot of music out there recently. We have the eNaira which may freeze commercial banks if it had succeeded. Now, it wants to run a card issuance scheme (local version of Visa and Mastercard). If it succeeds, Interswitch Verve may have a problem ahead.

While we welcome new ideas, the apex bank must evaluate how these activities will affect interest on new investments in the economy. I do not believe that CBN will beat the commercial banks on innovations even if the products are made free for users.

CBN should focus on catalytic initiatives and not these marginal interventions which our commercial banks can band together and execute. I support a local card issuance scheme but I do not want it driven by the central bank. The Bankers committee can lead these initiatives under the supervision of CBN. They have got great results in BVN and other initiatives.

Sure – the message is clear: mop up all Naira notes by changing the notes, force people to comply with the digital-economy regime, and then give them the local cards to complete the end-to-end playbook. We get it and I commend Emefiele. But he needs to calibrate so that as he beats these drums, the music will be clear for the right dance steps.