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Tekedia Live – Risk Management

By
Ndubuisi Ekekwe
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0

As we challenge startups and companies to drive growth and innovation, we always make time to ensure they apply brakes when necessary. Risk Management is part of market systems and Tekedia Institute has many modules on Risk.

“For the first time in this company, our audit came back “PERFECT”. Help me thank Yusuf Olatunji Sanni (MSc,CFAN,ACA,ACTI,BSc)i  of BUA Cement,  Abel Osuji of Afreximbank and Akeem Rasaq, BSc, MRM, MScFE of Chapel Hill Denham for saving Ezemba & Sons Onitsha Main Market,” our member had written in a previous edition of Tekedia Mini-MBA.

Akeem will be teaching Risk Management tomorrow at Tekedia Mini-MBA. People, learn from the best and become a master of risk. Visit the best school here.

The ChinmarkGate

By
Stanley Alieke
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1

I have been getting a series of calls recently from people seeking my legal services, asking me to institute an action in court or file a petition to the Economic and Financial Crimes Commission (EFCC) against Chinmark Group for investment fraud and also against the CEO of the company, Mr. Marksman Chinedu Ijeomah as the mastermind behind the investment scam and eloping with investors money.

As I have not really been active on Facebook for a while now, I was not quite familiar with the name and the happenings around that social platform. I only started hearing of the name “chinmark and marksman Chinedu ijeoma” recently due to the investment scam scandal. so I decided to look the man up on Facebook to fill myself in since I was told that Facebook is his nest.

To my amazement, the name Chinmark group is a household name on Facebook with verified pages accounting for thousands of followership and according to their Facebook page, their head office is located at no. 162 Ogui road, New Heaven, Enugu state, and the man Marksman Chinedu Ijeoma, the CEO is also a popular figure on Facebook.

His modus operandi was that he recruited some Facebook celebrities and popular figures on that app to partner with him and run publicities and adverts for the Chinmark investments. Facebook netizens fell prey to this method.

They claim they use investors’ money to invest in their fleets of businesses like real estate, hospitality business, logistics business, agriculture, etc and a percentage will be paid back to investors from profits generated from those businesses.

Some of my clients said they invested more than N20m, some about N10M, a man said he invested N100m and I also heard that a popular Nollywood actor invested about N200m.

He promised his investors a 3% monthly return on investment which business-wise is not too good to be true, it made sense to the investors and they also got carried away with the man’s Pius and philanthropy lifestyle online.

What he does is when a new investor invests, he will use the new investor’s money to settle the old investor and the circle goes on.

He also engaged in a lavish lifestyle and give-away spree, always doing giveaways just for social media clout and social media appraisal/approval.

Platforms like this are definitely bound to collapse but some of the investors claimed that although they knew it would collapse they were not expecting it to crash so soon.

The CEO was able to present himself on Facebook as a holy philanthropist and a prudent businessman of great integrity who won’t steal or run away with investors’ money and he was able to recruit many praise singers who were quite convincing and was able to convince an army of investors into joining the platform.

It is speculated that the man is sitting on over N2B investor’s money.

To the best of my knowledge, the case has been reported to relevant financial and law enforcement authorities and while we wait for the law enforcement agencies to do their job and feed more information to the public, I will (in the interest of my clients and those that have contracted my legal services on this case) also be filing a class action against the Chinmark groups and the CEO, Mr. Markman Chinedu Ijeoma and I have also sent a petition to the EFCC. 

If you are one of the affected investors, you can as well reach out to me so you can join in the class suit against the Chinmark Group. 

Insecurity In Nigeria: Nigerian Leaders Fail To Prioritize The Safety Of Its Citizens

By
Ojukwu Emmanuel
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1

There is hardly any day that passes in the country without a report on killings and attacks carried out in different parts of the country. Nigerian citizens continue to get killed in large numbers either by armed bandits, Fulani herdsmen, or ritualists. All these killings have been happening at an alarming rate, yet the political leaders continue to treat the issue of insecurity with disdain and levity. The insecurity rate in the nation is growing exponentially as each day passes.

Inactive leaders have contributed much to the escalation of social vices in the country. The Bokoharam and Fulani herdsmen insurgency in the middle belt and northern part of Nigeria has displaced many and has made a lot of them widows, widowers, and orphans. Out of fear, so many of them have refused to return home for fear of being killed, rather they chose to seek refuge in IDP camps. I often ask myself, if Boko Haram, Fulani herdsmen, armed bandits, and the rest are more powerful than the government of the country.

Because these sects seem to be carrying out dastardly acts and wreaking havoc without much action and interception from the government to wipe them out of the nation completely. Kidnapping and ritual killings are also on the high, yet when such people who are perpetrating this evil act are caught, there is no strict punishment meted out by the government, rather most cases are either swept under the carpet or forgotten. Herdsmen on the other hand have killed so many farmers, while those who escaped have refused to return which has put a lot of families in hunger and poverty.

Just recently there was an attack on the Kaduna International Airport by armed terrorists and also the most current of them which is the Abuja-Kaduna train attack which saw about 8 passengers killed and several others injured after a group of armed bandits blew up the rail link followed with sporadic shootings. If a train which is considered one of the safest means of transportation can be attacked, then it is not far-fetched to say that nowhere is safe in the country.

In Nigeria, it is a known fact that the Abuja-Kaduna highway is one of the most dangerous roads in the country, as kidnappers have been known to have ambushed vehicles at several points along the expressway also kidnapping people. One would reasonably think that since such a road is known to be a hiding place for armed bandits to attack citizens, the government is meant to take drastic measures in securing that route. Measures such as creating several checkpoints, mounting armed military men, coupled with regular patrols.

It might interest you to know that no strict measures have been put in place, as there are still cases of kidnappings and attacks still witnessed on that road. All that the government knows how to do is to send condolences to affected families as well as condemn attacks. What a way to protect the lives of its citizens! 

For over a decade, the country has been fraught with insecurity challenges, from Boko Haram to ISWAP, to Armed bandits, to unknown gunmen, yet the government is still not doing something serious about it, as the citizens continue to get killed.

I am left with no other option than to say that the insecurity issues that continue to thrive in the country, show that these things are sponsored by some people in the country. If not, what does it take to flush out all of them within a year? 

Recall when President Muhammadu Buhari was elected president in 2015, he made a promise to protect the life of the citizens. But then as his final term in office approaches the country is more unstable than it has been in decades. One thing we must know is that as long as insecurity continues to go on in the country, it will hinder economic growth and also prevent investors from investing in the country. It’s high time the government swung into full action to curb this menace.

Oscars Award Slap Incident: Some Nigerian Celebrities Caution Nigerian Comedians

By
Ojukwu Emmanuel
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0

There was a controversial incident that took place at this year’s Oscars award ceremony, that saw American actor Will Smith slap Oscars host and comedian Chris Rock. While hosting the award ceremony, comedian Chris Rock who was cracking up the audience, suddenly made a snide remark about Will Smith’s wife Jada Pinkett Smith to the amusement of others. But it happened that the Men in the black star was not impressed with the comedian’s remark about his wife.

The actor then took to the stage and slapped the comedian on his face, leaving the audience in shock. A noticeably shocked Chris tried to brush off the encounter by still being hilarious about the incident. While Will Smith returned to his seat, he was heard hurling “keep my wife’s name out of your mouth” to Chris Rock. The incident has been trending for a while and has been on the lips of many who felt Will Smith took things overboard by slapping Chris, which many termed as an egregious assault.

Will Smith who later won an award that night, for best actor, used his speech to address the issue, and also apologized to the academy and his peers for displaying such unprofessional behavior. He however stated that he was wrong, but he got triggered when Chris Rock made a mockery of his wife with a distasteful joke. After the show, it was later discovered that Will Smith’s wife Jada Pinkett Smith whose shaved hair was made fun of by the comedian, was suffering from Alopecia, a health disorder that is the partial or complete absence of hair from areas of the body where it normally grows.

Reacting to the Oscars incident, some Nigerian celebrities like Paul Okoye of the twin music singing sensation, Psquare, and music executive Ubi Franklin have however seized the opportunity to caution Nigerian comedians against making expensive jokes at the expense of their subject. They further stated that if Nigerian comedians make careless remarks about their personal life, they will replicate what Will Smith did to Chris Rock at the Oscars award. If you are very familiar with Nigerian comedians and their jokes, you will notice that they often make expensive jokes at the expense of their subjects.

It is very prevalent in their comedy shows where they even get to make jokes about top political officials. Personally, such jokes can be appalling as these comedians tend to take things overboard. Sometimes they make derogatory remarks about a person’s physical features, which unknown to them, such a person might be suffering from an ailment they choose not to disclose. Just like the case of Chris Rock who made a joke about Jada Smith’s shaved hair, unknown to him, she was suffering from Alopecia.

The incident at the Oscars award ceremony should be a wake-up call to not just American comedians but also Nigerian comedians to desist from making careless jokes especially jokes at the expense of their subject. They should understand that humans are not made of steel, and not everyone has the capability to stomach whatever joke is thrown at them.

The gods of football are angry in Nigeria

By
Stanley Alieke
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Maybe the reason why the Nigeria Super Eagles lost to the black stars of Ghana in yesterday’s match is that the gods are angry with Nigeria as a nation and we are insensitive about it.

How can we still go along with the scheduled match when the nation is still mourning a terrorist attack or being politically correct (a bandit attack) from the previous day. Uncountable numbers of people were killed in that train attack, some were severely wounded and some were kidnapped and nothing is yet of them till now and less than 15 hours everyone trooped to the stadium, jubilating and pretending that the mood of the nation is not grief to watch the match.

A serious country that has the interest of the nation at heart and is quite sensitive to the mood of the nation would have rescheduled the match but no, the Nigerian government went ahead with the match and even passed a newsletter for civil servants to work a half-day on the matchday so they can close early and go down to the stadium.

Not a minute of silence for those that lost their lives in the train attack the previous day, flags were not flown at half mast, the players didn’t put on a black armband as a sign, no respect for the dead, and everything went on as normal. Even when there was a security report flying around as an official rumor from the Department of State Security Service (DSS) that there is a security report that there is a planned terrorist attack at the stadium, the match still went on. The match was not rescheduled.

We are only living and surviving by the grace of God and Insha Allah in this country, sleep and wake up hoping you don’t lose your life the next day.

The country’s economy is in shambles, inflation going through the roof, the price of goods and services doubling on daily bases in the market, fuel scarcity still plaguing the Federal Capital Territory and other major cities in Nigeria since the beginning of this year.

No active steps have been taken to ameliorate any of these hardships and security threats. We can only hope and pray that Nigeria never experiences this kind of government ever again.

Maybe the gods are truly angry with Nigeria.

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