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Home Blog Page 5562

The (Un)decidable: Mutiu Iyanda’s Inaugural Speech as Data-Driven Management Specialist

By
Mutiu Iyanda
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3

One of the continents to be in the world is Africa. Also, one of the countries to be in the world is Nigeria. Both have many things in common. To get to Africa in all ramifications, one needs to understand Nigeria and Nigerians in some cases. In terms of African presence in other continents, there is no way one would not meet a Nigerian. Talking about productivity and significant contributions, Africans through Nigerians are always there.

As good as this, Africans through Nigerians or other nationals on the continent are difficult to predict. The continent is full of opportunities based on the numerous problems facing it yet people are finding it difficult to disentangle the issues and challenges impeding effective exploration of the opportunities through appropriation of existing resources.

In June 2019, I decided to start exploring problems and needs of Africans, especially Nigerians, using data-driven content approach. The decision was made after quitting my paid job. For over six months, I did not know when and where the content would be published to get maximum readers and impacts across the continent until I got the opportunity to contribute articles to Tekedia.

Fellow Nigerians and Global Citizens, it is necessary that I inform you that before getting the chance of being a contributor I had sent one of my pieces to Professor Ndubuisi Ekekwe, the owner of the platform and founder of Fasmicro Group, for a possible constructive review and instant feedback. Unfortunately, the reply did not come as expected. On two occasions, Professor Ekekwe informed me how busy he was. This did not deter me. I continue to send messages to him via LinkedIn.

This was before the announcement of the platform’s acceptance of contributing articles. Immediately I saw the call I swung into action by pitching my proposed article, highlighting the key focus and how I believed the public would gain significant insights from the piece, to Professor Ekekwe.

Fellow Nigerians and Global Citizens, the first article was published on June 17, 2019. From this date to today, I have 315 publications on the platform. The production of these articles did not happen without critical and significant readings which led to understanding of specific approaches needed for data collection and presentation of results in insights towards maximum impact delivery on the readers.

Fellow Nigerians and Global Citizens, permit me to say that between June 17, 2019 and September 20, 2021, I focused more on Nigeria, examining its needs, challenges and problems across public and private sectors. In the course of doing this, I had the opportunity of reading over 200 theories and models in addition to a large number of popular and specialised books with the intent of getting the right processes and people for a country that is in the midst of sticky followership and leadership systems.

In the course of my researches for data driven content, I discovered that there are micro and macro leaders in the public and private sectors. As the name suggests, these two categories have different roles to play in advancing Nigeria and Africa in particular and the World in general. Micro leaders who are the employees, clients or customers in the two sectors are expected to do their expected tasks and duties diligently without any form of manipulation or corrupt practice. This is also applicable to the macro leaders, who are the political, business and community leaders.

Despite the goodness of these classifications and volume of data I analysed, Fellow Nigerians and Global Citizens, my journey of over 2 years still generates the question; are existing micro and macro leaders the right tools for sustainable processes and future People? Many answers were found and presented to the public using insight approach. The presentation of the insights largely attracted mixed reactions. Some reactions indicated that macro leaders should be held responsible for the bad system which has been producing bad outcomes in the public and private sectors over the years. Some reactions revealed the fact that both the macro and micro leaders are the proponents of the bad system.

Fellow Nigerians and Global Citizens,  I need to inform you that my articles on the selection of a new Vice Chancellor at the University of Ibadan and the recent action of the Central Bank of Nigeria regarding the poor performance of Naira in the foreign exchange market generate big reactions that align with the position of the two schools of thought. This does not mean that other articles are not. A number of people who read and applied insights in the articles usually reached me through personal messages and phone conversations.

Fellow Nigerians and Global Citizens, the key thesis from my over 2 years of researching and publishing data driven content using vertical content distribution strategy is that Nigeria and other African countries would be much better in terms of processes, products, people and technologies if the two categories of leaders embrace data-driven management culture wholeheartedly. Throughout this journey, I have gained specialised and generalised capabilities for solving people, processes and products’ problems or needs using data-driven approach. Like I said earlier, application of theoretical propositions and model constructs have helped me to see, analyse data and report insights that assist political, business and community leaders in their decision-making process.

Fellow Nigerians and Global Citizens, at the initial stage of the journey, it was difficult to get the right data for analysis, especially when there is a need to have physical contact with the data sources in the public sector. Of course, one does not expect participants in the private sector to release their proprietary data for the public use, but there is a need for making non-proprietary data available to the researchers.

Appreciations

I appreciate the Almighty God for giving me sound health for carrying out the researches that led to the publications. He makes sure I did not fall when the needed energy is draining. I specially thank Professor Ekekwe for allowing me to reach global audience. I cannot be what I am today without my parents and siblings. Thanks for the unalloyed supports. Thanks to Professor Ayobami Ojebode for planting the research seed in me while at the University of Ibadan. You made me realised that research and development can put bread and butter on Table when one takes it seriously. All my friends and readers across the world are wonderful, for seeing value in what I write and create more opportunities for me to be better through their constructive criticism. I cannot forget the kind of sacrifice my wife, Zainab Omobolanle Mutiu, makes every day. She bears the brunt of my lack of time for our kids. Thank you for telling those who believe that your husband is too bookish and not having significant time for you and the kids, that you understand the man you married.

 

Schools, Send Your College Students To Tekedia CollegeBoost

By
Ndubuisi Ekekwe
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0

We co-educate with many universities across Africa including ABU Zaria, University of Ibadan, McPherson University, University of Nigeria Nsukka, University of Lagos, FUT Minna, many schools in East Africa, and beyond. We have more than 100 universities in our program. Among these students, we have a rating of 5 stars.

Schools, Registrars, Vice Chancellors, Deans, Alumni Association,  Alumni members, SUG Presidents, Class Reps, etc: to learn how Tekedia Institute can partner with your school, contact our CollegeBoost Coordinator Eyitayo Adeleke or click here.

Tekedia CollegeBoost is an Advanced Diploma in Business Administration designed for students in colleges. It involves an 8-week program which could be broken into two semesters or taken in one semester, depending on the arrangement with the school or group of students. This course is only offered to a group of students.

Technology And Human Intelligence of the Future

By
Fred Nwaozor
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0

The Information and Communications Technology (ICT) has unannounced seemingly taken over from the human brain.

If the above observation holds water, one would begin to wonder how an artificial possession can override the natural one, knowing full well that the latter unarguably begets the former.

Considering the ongoing trend whereby, for instance, an average student would in most cases prefer to make use of a calculator rather than his or her brain, you might subtly concur that the human brain is gradually going into extinction.

Of course, one may not hesitate to insinuate that the human brain is not anymore needed, since ICT has proven beyond doubts to be the ‘messiah’ when it calls for information sourcing or data storage.

Undoubtedly, the impact of ICT on man’s daily activity cannot be overemphasized, especially when considered that it can carry out a certain work expressly – and at anytime – without causing much stress for any of the beneficiaries of the work done.

On its part, the brain might not be very active at a given time. For example, you cannot wake someone from sleep and therein ask him or her to help you with a certain information or task. The brain needs to be relaxed before carrying out such required task.

An ICT equipment or system is invariably ready to perform its work unless when faulty. This is a verifiable fact and could be proven by any scientific school of thought.

Little wonder, in various Mathematics classes, you would hardly see pupils or students – as the case may be – making use of their brain. They are now quick in using their calculators or handsets when their brain is unreliable, even in cases concerning elementary arithmetic let alone basic algebra or geometry.

Those days, candidates who enrolled for external examinations, such as the Unified Tertiary Matriculation Examination (UTME) currently practised in Nigeria, could not attempt to enter the exam hall with any ICT gadget including calculator, cell phone, or what have you. But nowadays, the exam board itself provides the candidates with such equipment, particularly calculator.

This policy, which doesn’t augur well for our educational system, implies that even the teachers as well as examiners encourage the students to overlook the use of their brains. This is why most students often laugh at others who try to deploy their brain while in classroom or at their respective homes.

Parents and guardians too, would stop at nothing to ensure their wards do not ‘stress’ their brain by providing them with any requested electronic learning material.

It suffices to assert that the ICT has apparently dominated the modern generation, otherwise known as the digital age, and perhaps replaced the human brain.

Lest we celebrate that we need not bother our brain any longer in issues pertaining to learning, routine office works, or as might be the case, let’s not forget in haste that the human brain remains the only endowment that does the thinking – which ICT can never do – not even for a second.

Survey reveals that the brain can engage in an extensive and rigorous thinking towards proffering the required remedy to any given plight, or providing sound and reliable ideas that can stand the test of time.

The human brain can store as much information as possible. Your brain might have only a few gigabytes of storage space similar to the one in your iPod, USB flash drive, or computer hard-disk. But neurons, also known as nerve cells, combine so that each one helps with many memories at a time, thereby exponentially increasing the brain’s memory storage capacity to something closer to around 2.5petabytes – equivalent to a million gigabytes.

Similarly, research indicates that the human brain is thirty times faster than the best supercomputer in existence. One can now imagine how fast the brain could be when deployed by the bearer.

Moreover, knowledge acquired wholly with the use of the brain gives self-confidence, and such is always reliable irrespective of the circumstance. This could be attested to by any intellect or lover of knowledge.

It’s pertinent to acknowledge that ICT itself was invented solely by the brain, and any existing electronic gadget such as computer is programmed mainly by the effort of same human brain.

Inter alia, such IT equipment as any computerized gadget provides information on a daily basis based on what it receives from the human brain. This phenomenon is called ‘garbage in, garbage out’ in the computer world.

It’s noteworthy that whenever an IT gadget or network gets infested or ceased to perform, it is the human brain that would fix the anomaly; needless to say that the day-to-day thrive of ICT cannot be adequately effective and efficient without involving the brain.

The truth is, ICT which remains manmade, can fade at anytime whereas human brain will never. This is the reason we must not make attempt to relegate our brains to the background; else, we shall all live to regret it. There’s, therefore, a compelling need to revisit the existing policies towards mandating the learners to invariably make use of their brains.

Believe it or not, ICT can never be compared to the ‘almighty’ human brain, because the latter is arguably yet to have a rival. Survey shows that no computer can compete with the brain of the dullest human on Earth.

Hence, we are advised to believe so much in ourselves by finding reasonable time to work on our brains, proudly use it always, as well as endeavour to handle it with absolute care.

Though the functions of ICT cannot be overemphasized as earlier stated, the role of the human brain remains limitless. The former was invented to serve as an aid to mankind’s daily activity, and not to replace the latter.

China Must Deliver Bailout Vaccine to Evergrande’s Financial Pandemic

By
Ndubuisi Ekekwe
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1
FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo/File Photo

There are growing fears that China’s Evergrande, a real estate giant, will default on its massive loan: excess of $305 billion. If that happens, expect a financial pandemic which can rattle markets. Today, most leading stock markets gave up huge numbers as investors look for safer assets. But this is just the beginning, especially if China decides not to administer the right vaccine of financial bailout.

  • Chinese officials are expected to stem the spillover from liquidity issues at Evergrande, the country’s largest property developer, before it slams the banking system and bleeds into foreign financial centers.
  • But strategists also say Beijing needs to act quickly to restructure Evergrande, because markets are becoming nervous and it is hurting sentiment.
  • The problems at the property developer could damage China’s economy and from there also dent the world economy.

Shares in Evergrande, which has been scrambling to raise funds to pay its many lenders, suppliers and investors, closed down 10.2% at HK$2.28 on Monday, after earlier plummeting 19% to its weakest level since May 2010.

Regulators have warned that its $305 billion of liabilities could spark broader risks to China’s financial system if its debts are not stabilised. […] A major test comes this week, with Evergrande due to pay $83.5 million in interest relating to its March 2022 bond on Thursday. It has another $47.5 million payment due on Sept. 29 for March 2024 notes.

I call on the Chinese government to quickly deliver the right dose of financial vaccine bailout and arrest this evolving financial pandemic which Evergrande is possibly going to spread. Speed is key!

Twitter Agrees $809.5 Million Settlement for Class Action Lawsuit

By
Samuel Nwite
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0

Twitter Inc said Monday it will pay $809.5 million to settle a 2016 shareholder class action lawsuit in which the social media company is accused of defrauding investors.

The lawsuit was based on an allegation of metric manipulation of the microblogging app’s traffic.

The case has been amicably resolved by the agreement and the litigation will no longer proceed. Jury selection was due to begin on Monday, but at a September 17 hearing, US District Judge John Teagar in Oakland, California, postponed it until the end of November.

Twitter, former CEO Richard Costolo and former CFO Anthony Noto have denied misconduct in agreeing to a settlement that requires Tigar’s approval.

“The jury is a great equalizer for even some of the most powerful organizations on the planet,” said Thor Gronborg, partner at Robbins Geller Rudman & Dowd, representing shareholders.

Twitter shares fell 3.8% to $ 60.11 in the afternoon. Twitter said it expects to use the cash to pay the settlement amount in the fourth quarter of this year and fix the related expenses in the third quarter.

In September 2016, shareholders filed a lawsuit against Twitter, claiming that it artificially inflated the stock price, misleading them about user interactions.

According to the complaint, Twitter stopped reporting “timeline views” at the end of 2014 and covered up stagnation or decline in user activity by reporting vague descriptions of user metrics.

Shareholders said Twitter acknowledged the truth after Costolo left the company in June 2015 and his share price fell 20%.

The class action lawsuit applies to investors who acquired shares from February 6, 2015 to July 28, 2015.

Since 1996, only nine of the more than 5,000 US securities lawsuits filed by equity investors have gone through a trial pending verdict, the Securities Intelligence Service said.

Slightly more than half of the claims were rejected, and most of the rest were satisfied. The final settlement agreement between Twitter and the aggrieved shareholders will be subject to approval by the Court.

Facebook faced a similar class action suit in 2018, brought against it by DZ Reserve and other participating plaintiffs. The lawsuit alleged that the social media giant deceived advertisers about the actual metric of its ads reach, overruling an employee’s warning to adjust it in order to avoid revenue hit.

Advertisers depend on the metric to know how many people they reach, which shapes ad buying decisions. But according to employees, the metric available to advertisers contains fake and duplicate accounts, which they said it’s deceptive.

Removing the fake or duplicated accounts would cost Facebook 10% revenue drop. So the company objected to the employee’s suggestion to eliminate the accounts to serve accurate metrics.

Twitter has taken a different route by agreeing for a settlement instead defending itself in court. In 2019, Facebook settled a similar lawsuit after admitting an error in metric calculation had caused it to inflate viewing time for video ads.

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