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Home Blog Page 5175

Tekedia CollegeBoost Receives Funds for UNICAL Students

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This is my alma mater – the University of Calabar where I received an MBA.  Tekedia Institute is excited to announce a generous donation to support undergraduate students in the university to attend Tekedia CollegeBoost, a mini-MBA designed for undergraduate students. We thank Ernest Edukere  for investing in the FUTURE; open doors await.

To learn about Tekedia CollegeBoost, connect with Eyitayo Adeleke or click here  . In our school, students from more than 100 universities and polytechnics are co-learning with us. They’ve rated 5/5 for quality, relevance and value.

Send your students and experience practical entrepreneurial capitalism from the temple of Africa’s business education.

Africa’s Startup Founders, Pay Attention to this Warning

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If you run a startup in Africa, watch what is happening in the New York Stock Exchange and NASDAQ. The rich families and select institutions which give venture capital funds money to invest in startups will stop doing so if the stock markets go south. The Dow lost 810 points today over fears of impending recession.

The United States Federal Reserve (equivalent of the Central Bank of Nigeria) works mainly to keep the U.S. dollars stable (to reduce inflation) and maximize employment (through interest rates). The Fed plans to hike interest rates (unemployment is not a big problem at the moment). This increase will help to quell inflation by deepening the strength of dollars but as that happens, many negative things could happen.

Those things include a drop in consumer spending and broad purchases including real estate assets (costs of loan will be higher and many will forgo purchases). But if purchases are depressed, factories will be forced to reduce production, and if that is not well managed, recession kicks in. As that happens, inflation will drop since limited availability of  cheap money will make prices adjust. ECON 101.

As these things happen, people move into defensive, not offensive when it comes to investing. In other words, they will not invest. Look carefully at your burn rate because this paralysis could be extended.

Besides the US inflationary challenge, Russia’s war in Ukraine remains a big factor: NATO will likely  continue to fund Ukraine until Russia gives up. But note this: if the EU does not buy Russia energy, and begins to source from alternative sources, Russia may end up benefiting as global prices will go high. What that means is that Russia may sell less and still make more money than would have been made pre-war. 

But as that happens, the US will introduce 3rd party sanctions and that means anyone that buys Russia’s product will be under the crosshairs of US sanctions. That is where the volcano will erupt: China will protest. And watch out the implication in the global supply chain with implications that some Chinese companies in New York could be suspended!

On Saturday, at Tekedia Mini-MBA, I will share more during our scheduled course on Building Investment Portfolios. Join us.

On The Cop That Killed Two, Injured Others At Lagos Party

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On the night of Sunday, 24th April 2022, two persons were reportedly killed while two others injured after a drunk policeman on illegal duty offered gun salutes to celebrate a businessman’s birthday in Lagos State.

It was learnt that the incident occurred at La Silva Bar, Egbeda in Alimosho area of the State at about 9pm during a birthday party.

The cop, who allegedly fled the scene of the incident having realized what he had done, was said to have been invited by the celebrant identified as Ifeanyi alias Asiwaju of Computer Village, Lagos.

The gory videos of the ugly mayhem, which has gone viral on the social media, alleged that the cop wanted to shoot into the air while other guests were spraying money on the celebrant but unfortunately fired at them instead.

It suffices to assert that, in the long run, the drunk cop killed the people he was called to protect. He was graciously invited or contracted by the celebrant for security, or to ensure safety at the arena, but he allegedly ended up creating a state of doom. What an irony of life!

The Lagos Police Command has launched a manhunt for the cop and it was reported that the celebrant had gone into hiding since Sunday night.

The State’s Commissioner of Police (CP), Abiodun Alabi has ordered their immediate arrest, to consequently commence disciplinary action and prosecution, respectively.

The police boss, it was gathered, was particularly interested in knowing how the operative who was said to be off duty, got the rifle he used at the said party.

It was learnt that two of the guests were arrested by policemen attached to Gowon Estate Division after the bar’s owner, Sylvanus Chukwukezie made a complaint.

When contacted for reaction, the Police Public Relations Officer (PPRO) of the State, Mr. Benjamin Hundeyin stated that the details of the incident were still sketchy but assured the Command would not rest on its responsibility until everyone culpable was brought to justice.

He said: “I can confirm there was shooting at the bar on Sunday night and two persons were killed. We are investigating the circumstances that led to the shooting. I can assure you that those responsible will not go free. They will face the music.

“The Commissioner of Police Lagos State, CP Abiodun Alabi has zero tolerance for such behaviours and has already given marching orders to the DPO to fish out the culprits.

It’s indeed high that the concerned authorities went the extra mile towards checking the excesses of Nigeria’s police officers, to include those serving in offices, various authorized checkpoints as well as the ones attached to some establishments across the country.

It’s no longer news that their mode of services in recent times has really called for an outcry by Nigeria’s civilians. Hence, the compelling need to ensure that the service Riot Act is regularly and severely read to their hearing and understanding.

How could a cop attempt to shoot in the air at such an enclosed venue as portrayed in the viral video? Even if he was drunk, was it the first time he would find himself in such a mood? It suffices to assert that there are many questions begging for answers in regard to this ordeal.

The Police, and other related security agencies, must ensure that anyone who is organizing an event, and intends to have the services of security personnel, ought to pass through the required official statutory processes as recognized by the authority.

For crying out loud, we, as a people, cannot continue to wail or repeat the same thing on a daily basis, as if the society isn’t governed or led by anyone.

Campaign Promises By Nigerian Politicians

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As a typical Nigerian who has been to several campaign grounds where different politicians relate their manifesto to the electorates, one thing is very common. Their campaign Is usually made up of promises, where only a very low percentage of them when elected into office go ahead to fulfill those promises.

These politicians are so blessed with the gift of oratory, that they use enticing words to mesmerize the electorates to believe whatever they have to say, only for them to get voted into office and do otherwise.

They have no qualms promising the absurd and outright possibilities to a populace that, though already weary with the poor performance of politicians, are yet to show a real preparedness to hold them accountable for their failure to make good on previous electoral promises.

Although the issue of lie telling is not only synonymous with Nigerian politicians as it pervades the whole planet. Aside from the lies told on campaign grounds, we have had several cases of Nigerian politicians who go as far as presenting falsified documents to show that they are eligible to contest and occupy a certain position. Imagine the effrontery!

Nigerians are constantly taken for a ride during election periods by these politicians who continue to spew out lies in the name of promises in their desperation to garner votes. These politicians have continued to make empty promises ever since the country got independence, yet things have not fared any better.

This shows that the majority of them just declare these empty promises to cajole the electorate to vote for them, only to end up disappointing them. A case study of President Muhammadu Buhari who got into office as the president of Nigeria with the promise of eliminating corruption in the country.

Just recently, he pardoned two Ex-Governors with some other governors who were already serving jail terms for misappropriation of public funds. This act by the president already goes contrary to the promise he earlier made before becoming President to stop corruption in the country.

Nigerians have become familiar with some of these vague promises made by these politicians, such as; the construction of roads, the creation of jobs, the tackling of insecurity, etc. There are also a few examples of promises made by these politicians and their parties, with no attempt to explain how they intend to achieve them.

It’s high time the electorates come to the understanding that these politicians need to be engaged where they will be asked critical questions regarding their electoral promises and how they intend to achieve them. Once they observe that their explanations are not reasonable enough, then it is left for the electorates to disregard such an aspirant and vote for the one who is competent enough.

In 2021, former chairman of APC Kwara state, Iyiola Oyedepo released a book “21 lies Nigerian politicians tell the electorate”, in which he disclosed that he exposed the common lies told by these politicians and also educated the electorate on how to vote for candidates seeking their franchise.

He further added that if the electorate votes wrongly, they will have to live with it for four years. In the book, he disclosed that politicians must tell lies as it has become a part of them, but it was left to the electorate to identify a lie from genuine promises during campaigns.

He disclosed that the only way to defeat the political lies told by these politicians is through round sensitization for consciousness among the electorates. It is therefore imperative to say that the consciousness of the people is an extremely crucial factor in a democratic setting because It gives them insights into assessing the performances of the government to determine whether it has been able to accomplish its responsibilities to the citizenry or not. When the electorates are conscious, it will be very hard for them to fall for the lies of promises made by politicians during electoral campaigns.

On The Disclosure That 250 Female Aspirants In Nigeria Obtained PDP Forms

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Ahead of the 2023 general elections in Nigeria, on 25th April 2022, the National Women Leader of the leading opposition platform in the country, the People’s Democratic Party (PDP), Mrs. Stella Effah-Attoe disclosed in Abuja that about 250 female aspirants for various political positions had purchased the party’s Nomination and Expression of Interest forms.

Mrs. Effah-Attoe stated this at a meeting she had with some of the aspirants at the party’s Wadata Plaza, national headquarters. She however urged the women to aim at winning elections and not stop at merely picking the forms and participating in the exercise.

She added that her office was already working with party leaders and stakeholders to ensure a good number of the female aspirants emerged as the party’s candidates, while advising the aspirants to be well-prepared to face the primary elections so as not to heap blame on the party afterwards.

She equally frowned, “Some of us don’t even relate with our wards, not to talk about our local government chapters. And when the bell rings to buy the forms, we just run and pick the forms. Politics is not practised that way. You have to prepare yourself, especially for the primary.”

Mrs. Effah-Attoe further disclosed that the meeting was to strategize on how more women would merge as candidates at the primary elections.

“I desire to leave no stone unturned to ensure that our women participate meaningfully and win elections. We have always thought about women coming out to participate.

“We have been doing that over the years. We have been participating but the issue now is coming out to win elections. This kind of meeting is unprecedented.’’ she said.

The National Women Leader said the meeting was also designed to enhance female aspirants’ approaches and tactics as they go to the field.

“You must understand the pros and cons inherent in our political pursuits with a view to proffering solutions to them and you must monitor the achievements of female aspirants and plan for the future.’’ she stressed.

In her remarks, former National Women Leader of the party and also former Minister of Women Affairs, Mrs. Josephine Anenih, advised the aspirants to do soul-searching on whether they wanted to contest to win or to just participate.

She noted that sometimes, because the form is almost free, women just obtained it to bargain for something or earn the title of aspirant, and not for the purpose of winning elections. Hence, advised the aspirants to work to win, saying, “Do not just rely on 35 percent affirmative action for elective positions.’’

Mrs. Anenih equally charged the aspirants to respect party structures and leaders, including zoning, and to connect with people at the grassroots

“If you are not qualified and nobody knows you in your place, you won’t get the seat you are looking for.

“If we ask some of us now when last they attended ward, local government or state meetings, they would draw a blank and they now want to be House of Representatives members or governors or senators. It’s a tall order.

“This is not to discourage anybody, but to let you know that there is no point wasting your time or that of party leaders. The 35 percent affirmative action we are clamouring for is not magic.

“We must work hard for it. Don’t give PDP a bad name by saying women are marginalized. If you are qualified, you will be given a chance.’’ Mrs. Anenih said.

She also advised the female aspirants not to underestimate the influence of party leaders, that of governors and the media, while advising them to get campaign sponsors and put other factors that could assist them in place.

On her part, another former PDP National Women Leader, Mrs. Inna Ciroma enjoined the women to prove that they could do it.

Mrs. Ciroma, who claimed that her husband never influenced her participation in the election, advised them to be united and dogged to get the party’s tickets.

Nigerian women have really and obviously made politics to be laughable. Each election year in the country, you would observe thousands, if not millions, of them purchasing nomination and expression of interest forms as if they are buying food stuffs in their local markets.

But in the long run, none, or only a few, of them would clinch the tickets of their respective parties. This has become a recurring decimal in Nigeria’s political space, yet the game plan of the said set of individuals apparently remains the same.

Funnily enough, whenever they failed to win primary elections, they would be crying foul, demanding that the party should grant them a certain percentage of its tickets, as if tickets are mere ‘tissue papers’ given to any beggar on the street.

Time has actually come for these women to learn how best to play politics. They have all its takes to win elections, because they can boast of the majority, yet they would always allow the menfolk to deceive them.

They need to come together and form a formidable coalition irrespective of their affiliations. They must speak with one voice, rather than pull her down syndrome, if they truly desire any tangible position in the country.