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Russia-Ukraine Conflict: Mitigating Risk from Financial Contagion

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Tekedia Institute has a history of updating its curriculum on the fly as a result of global events. We added many courses during Covid-19, providing directions to our members on how to navigate and manage the paralyzes out of Covid-19.

As hostilities continue in Ukraine, Tekedia Mini-MBA will examine the implications in markets. How would a prolonged war affect asset classes? Would global supply chain be affected? ETC ETC.

But understand one thing: if Russia, the world’s second largest oil producer, decides to strike back, oil prices will hit the ceiling and that may put pressure on most economies. Russia is a very small country on its share of global GDP – about 3% – but its energy position is HUGE. So far, the sanctions have been muted on its oil and gas, but nothing stops it “sanctioning” the world.

Look at your market positions and take action. Do not rely on the promises of politicians and press releases; this is a really big matter because it is not happening in Ethiopia, Iraq, Mali and Afghanistan but EUROPE. Yes, there is panic because it is home!

Then, what can we do if there is a financial contagion? Let’s try to predict so that we can arrive into the future with confidence. Of course, we continue to ask global leaders to make peace and let all nations find hearts to cohabit. Peace is the best line in all balanced sheets and we want PEACE in this world.

Tekedia Institute Mini-MBA >> a business school for all markets. Zoom link in the Board.

President Zelenskyy of Ukraine, Call President Putin And Stop The Madness

Sustaining A Reliable Population Via ICT

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Population is undoubtedly the one of the most essential parts of any society, because it’s one of the major factors that determine the society’s net worth.

As we take into cognizance the inevitable impact of population on societal uplift, it’s worth noting that it is only the human population that bears such idiosyncrasy as mentioned above.

It suffices to assert that the population of other forms of organisms is relatively inconsequential, economic wise, compared to that of humankind.

Two prime factors – natural and human resources – determine the Gross Domestic Product (GDP) of every nation. It’s pertinent to acknowledge that the aforementioned recipes are interwoven.

Natural resources obviously require human resources before it could be harnessed; thus, without the latter, the former would remain crude or useless. Similarly, mankind unavoidably requires the natural resources for life’s sustenance. Little wonder discerning leaders fiercely safeguard and sustain these resources.

A country’s resources can only be aptly managed by ensuring effective and efficient sustenance of its human population. Towards a holistic sustenance of a given population, it’s imperative to note the rudimentary factors that affect population growth, which are: birth rate, death rate, and migration. Having carried out the census of a country’s population, there’s a need to checkmate the above factors in order to subsequently boast of a robust and reliable database.

The factual point is that a reliable population record cannot be sustained without involving Information Technology (IT). Ranging from census to update, each of the exercises involved requires proper utilization of IT for laudable functionality. Hence, Nigeria as a country that’s yet to fully embrace IT must take advantage of these facts.

Owing to the overwhelming impact of IT on every activity pertaining to population management, it’s high time the National Population Commission (NPC) of Nigeria started deploying its use in the agency’s day-to-day obligations.

It’s appalling that the NPC cannot even boast of a reliable database as regards Nigeria’s population, let alone sustaining it. The authority needs to comprehend that the country requires a standard population record with a view to boosting its socio-economic status, and such can never be obtained without a substantive database. Among all, a database cannot currently be considered viable if IT isn’t utilized. In other words, the concerned quarters are expected to embrace IT wholeheartedly, considering that it is the only way forward.

In view of the above, our pattern of population census must be reviewed in earnest. Hence, as the country prepares for the next population census, I enjoin the NPC to strategize in order to ensure that IT is fully inculcated in the overall scheme so that at the end of the national exercise, we as a people can boast of a comprehensive IT-based population database.

Prior to the commencement of the said nationwide exercise, the NPC should endeavour to establish an independent IT-oriented department/unit. The unit ought to be entitled to a well-experienced indigenous director.

Independent, in the sense that the unit must have all the required resources to avoid intrusion. Well-experienced, meaning literally that the prospective personnel must possess a convincing IT expertise. And indigenous, in the sense that he/she must be a full-fledged Nigerian; being indigenous would enable him/her to regularly carry out the consignment diligently and patriotically.

The unit ought to equally constitute personnel that are knowledgeable enough in the field of ICT. Inter alia, there should be an agency that would oversee or monitor the day-to-day running of the unit toward ensuring efficiency.

After conducting the census, there would be a need for constant and consistent thorough update of the database, and such needs to be done by the IT unit. The records need to be updated by subsequently observing the earlier mentioned fundamental factors that affect population. A tactical approach ought to be employed toward ensuring that the overall birthrate and death-rate occurring within the country are regularly gathered regardless of the locality where the event took place.

Hence, every maternity and mortuary operating across the federation must be duly certified by the NPC whereby every child delivery or corpse deposition, as the case may be, would be instantly reported to the commission via the respective ICT departments of the said centres.

To this end, in the event of home child-delivery, such a case needs to be reported to any nearest maternity for onward documentation. Similarly, whenever one dies and his/her corpse isn’t taken to the mortuary, the bereaved family is expected to report such an incident to the closest mortuary.

This policy implies that, henceforth, any maternity or mortuary that isn’t recognized or approved by the NPC must be shut down indefinitely. Such a monitoring measure would equally require setting up of a mobile committee by the commission that would regularly oversee the existence cum activity of all maternity and mortuaries.

Regarding migration, the Nigerian Immigration Service (NIS) is meant to work hand-in-hand with the NPC. The cooperation would help to invariably update the latter on immigration cum emigration matters. The proposed relationship would be effective and easy by involving ICT.

Moreover, the NPC’s IT-department ought to invariably make use of world-class softwares. The softwares must be designed by the department’s staff for privacy sake. The unit is also required to continually possess such classic devices cum personnel as anti-hacking softwares, experts coupled with other sundry entitlements.

An all-inclusive statistics of Nigeria’s population can only be properly sustained via the effort of IT and viable policy. Since the country possesses all it takes to make the project feasible, let’s not hesitate in applying the resources.

Hence, all concerned authorities must henceforth be prepared to do the needful towards ensuring that the outlined proposals are duly implemented and sustained.

Nigeria’s Minister of Education, Adamu Adamu, storms out on NANS

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The highlight of this week has been the act of the honorable minister of Education Mr. Adamu Adamu angrily walking out on National Association of Nigerian Students (NANS) delegates.

On Monday, Adamu Adamu, the honorable minister of education stormed out of a meeting with the students’ representatives under the auspices of the National Association of Nigerian Students (NANS) led by the union president, Mr. Sunday Asefon, over the ongoing and never ending strikes by Association of Academic Staff Union of Universities (ASUU) which has been distorting academic activities in universities and other higher institutions.

The Academic Staff Union of Universities (ASUU) had, on February 14, this year again embarked on a one-month warning strike (after which they threatened that they may  take it to  longer time) if the government don’t meet their demands; the government had in so many instances failed to honor the contract they have entered with the university staff union.

Students have been protesting and blocking major roads in different states and different  parts of the country. On Monday, the students decided to take the protest to the federal capital territory and blocked major roads in the city and stormed the Ministry of Education and also the National Assembly to register their displeasures to the ministry and the  law makers

In continuation of the protest, the students summoned the Honorable Minister of Education, Mr. Adamu Adamu to an impromptu press conference with the minister and other high ranking officers in the ministry of education.

The students delegate leader who is the president of NANS, Mr. Sunday Asefon, boldly spoke to the Honorable minister and made known the demands of the students union and called for immediate end of the ongoing strike of the university lecturers. The National president of the student body also accused the Minister of sending his son abroad to study while he let the Nigerian schools to fall out of shape.

These accusations by the National President that the Minster sends his children to foreign schools might have gotten the Honorable minister angry.

The minister while reacting to the statements of the National  president of NANS,  had chided the union that instead of coming protest at the ministry and the federal Capital Territory the students should have addressed their grievance with their lecturers in their respective institutions; The Minister said “instead of coming here to protest you should have address your grievances with your lecturers, Perhaps the only point that you made that is even worthy of attention is that you said students should be involved in this (discussion) and I think it’s probably a good thing, and that is only what I will take away from here”.

After making these comments, the honorable minister angrily stormed out of the meeting. It can only be assumed that the minister felt insulted over the tune the national president of NANS had used in addressing him and accusing him of sending his children abroad to study while he let Nigerian institutions of  learning to  collapse.

The minister feeling insulted that he was accused of sending his children to school abroad is quite funny because Nigerian leaders right from the president down to the least of them have their children schooling abroad, that is while it was widely celebrated when the governor of Kaduna state, Governor El-rufai  posted that he took his last son to enroll him in a public school in the state.

This act was deemed as just a publicity stunt by the Governor to score some cheap political goals as he quickly and secretly took the son out of the school after the publicity and claimed that kidnappers were targeting to abduct the son from the school.

Wishing Mr. President A Great State of the Union Address

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Please join me to wish Mr. President a great State of the Union address tonight. When the world said “Bring In Dependable, Experienced Nation-Builder”, we got BIDEN.  I voted Biden-?Harris for one thing as I have noted here many times: advancing educational equity.

Largely, if you live in a very poor area in America, you will likely attend a poorly funded public school. Why is that so? Real estate taxes which are collected in districts are used to fund public schools. So, if you live in a place with many mansions, the schools will have more money. The implication is this: where you live determines many things about your education and potential success in life!

Dramatically unequal funding between school districts means some children learn in gleaming new classrooms, while students just down the road navigate unsafe and rundown facilities. Amid a nationwide teacher shortage, high-poverty school districts struggle to attract certified staff and experienced educators. And students of color and children with disabilities face disproportionately high rates of school discipline that removes them from the classroom, with lasting consequences.” Whitehouse publication 

Mr President went to work to fix this institutionalized paralysis, and is uplifting many minorities and for that, he is delivering as promised. Of course, there are challenges but we’re confident that he will fix all those issues.

As I wish Biden a great moment this evening, I also wish President Buhari as he travels to London for medicals a good trip: Buhari  will “proceed to London for routine medical checks that will last for a maximum of two weeks.”

Yet, the news that he is not transmuting power to his deputy, Prof Osinbajo, as he leaves the nation, is classless. We need to overgrow these demons in Nigeria.

Nigeria’s President, Muhammadu Buhari, is set to travel out of the country for about two weeks, largely for personal health treatment, but has refused to transfer power to his deputy on an interim basis as constitutionally expected.

Mr Buhari’s office announced Tuesday that the president will depart Nigeria for Kenya on a three-day official visit after which he will “proceed to London for routine medical checks that will last for a maximum of two weeks.”

The Nigerian constitution provides that when the president is going on vacation or is unable to discharge the functions of his office, he will notify the National Assembly and temporarily transfer power to his deputy.

“WHENEVER the President is proceeding on vacation or is otherwise unable to discharge the functions of his office, he SHALL transmit a written declaration to the president of the Senate and the speaker of the house of representatives to that effect, and until he transmits to them a written declaration to the contrary, the Vice-President shall perform the functions of the President as Acting President,” Section 145(1)(2) of the Nigerian Constitution states.

The Amazing Vision of InterswitchSPAK National Science Competition

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In 2019, in the beautiful city of Kampala, Uganda, Africa’s fintech pioneer and giant, Interswitch, honoured me with a special award during the Africa Fintech Network festival. It was a great experience: I saw a truly pan-African brand as I stepped out with the company’s flag flying high. Yes, Interswitch, birthed in Nigeria, was towering high in the Ugandan skyline.

But there is something more amazing which I want to commend Interswitch on today: the InterswitchSPAK National Science Competition which I just read about.

The company has been encouraging interest in STEM (Science, Technology, Engineering and Mathematics) through science competitions in our secondary schools. After a 13-week run on both terrestrial and domestic television stations, a winner is chosen, and is awarded N7.5 million in scholarships. More than 18,000 Nigerian students participated at the start of the 3rd edition which ended last week. According to the company, it awarded more than N12.5 million in scholarships and prizes. And that a Kenyan version – InterswitchSPAK  Kenya – received the same level of success in the just concluded second edition.

As governments struggle with budgets across Africa, I expect tech companies to see a higher purpose in their communities: seed and nurture the future by supporting our young people. Competitions like this would be catalytic to help kids dream. Interswitch noted that past winners remain in school even as they are more energized on the promises of technology.

Many years ago, the first time I ever travelled out of Ovim (Abia State, Nigeria), it was to represent my school at the state’s JETS (Junior Engineers, Technicians and Scientists) competition. Yes, it was science that took me to see a big city! These winners will never forget how science got them to the big stage, with scholarships to add.

This is the fact: the African tech ecosystem can only be sustainable if we support more young people into tech. The future of nations will be anchored on the technology and science of nations. So, if we can get students enticed early, we can predict the future better, because we will create the future. To the winners, congratulations. To Interswitch, well done on the initiative: SPAK the future indeed.

The Africa Fintech Network honored Ndubuisi Ekekwe in Kampala, Uganda.
Ndubuisi Ekekwe with Interswitch executive in Uganda