Happy Easter and let me wish everyone a Happy Resurrection Day from this short video. Resurrection brings a new life and I am praying that your career, family, etc  will experience the power of His resurrection. As we say in the Scripture Union, His resurrection will resolve any challenge – grace infinite. Happy Easter from my family to yours.

About 77 million MTN customers remain disconnected from the Nigerian commercial banks over a dispute on airtime commission. The mobile giant has reduced it from 3.5% to 2.5%, and the banks, excluding Zenith bank which is directly connected to MTN systems, have refused, insisting the old rate must be maintained.  Now, MTN is sending an Easter present to some fintech companies in Nigeria as it begins to send them millions of users: call it the best Easter for the lucky ones.

Yes, Flutterwave, Carbon, OPay, JumiaPay, etc have now been embraced by MTN as alternative channels for customers to use. Read the statement below…

MTN, in its statement, said, “It will interest you to note that for the benefit of our customers who have been greatly inconvenienced by the service suspension, we now have alternative channels of accessing MTN services electronically. Below is the list and links to access the various alternative platforms:

 “MTN On Demand is on *904# and also via https://mtnondemand.flutterwave.com;

“Barter By Flutterwave (app);

“Jumia Pay (app);

“OPay (app);

“MTN Xtratime airtime loans (*606#);

“Carbon (app);

“Kuda (app);

“BillsnPay (app and web);

“myMTN Web

“Momo agent *223#

“The Apps can be downloaded from the Playstore and the Appstore.”

Updated: This issue has been resolved.

Service resumed Sunday afternoon after MTN agreed to revert to “status quo” at the request of the Minister of Communications, the Nigerian Communications Commission and the Central Bank of Nigeria while a permanent solution is being worked out, PREMIUM TIMES learnt.

“The CBN Governor’s intervention is in line with our core values. We acceded to his request and that of our Minister. We will continue to live our values that ‘everyone deserves the benefits of a modern connected life’,” Carl Toriola, MTN Nigeria chief executive, said Sunday.

The Banks’ BIG Block

In my first year in secondary school, I participated in the heat, ahead of the inter-house sports competition. In the 100 meters race, I came last. In the long version, I came last. Then, I tried the long jump, I was average because I was above average height. But in the second year, I was last again. Quickly, I forgot about competitive sports, and focused on one sports I was really good at: academics.

Our school football captain would always remind me: “on this football pitch, I am the captain; you wait until we get to the class for you to assume your own captainship”. He called me “Momen” for helping in the moments when mathematics needed solutions. It was a great experience: deep respect especially as we later became school prefects.

That takes me to the situation in Nigeria. We are in a position where no one respects anyone. Today, doctors are on strike: “The National Association of Resident Doctors (NARD) commenced an indefinite strike on Thursday despite meeting with a federal government delegation on Wednesday night.” As the government was trying to get its playbook, the judiciary has kicked off its own party: “Judiciary workers, under the aegis of the Judiciary Staff Union of Nigeria (JUSUN), have declared an indefinite nationwide strike to press home their demand for the financial autonomy of the judiciary.”

The National Association of Resident Doctors (NARD) commenced an indefinite strike on Thursday despite meeting with a federal government delegation on Wednesday night.

“We commence strike 8 a.m. today while we are still trying to evaluate the federal government’s offer,” the president of the association, Uyilawa Okhuaihesuyi, told PREMIUM TIMES Thursday morning.

The decision was reached after NARD’s extraordinary National Executive Council (NEC) meeting held last Saturday, according to the president.

He said the ultimatum given to the federal government to meet the association’s earlier demands expired on March 31, with no significant achievement.

Simply, there is no respect for any institution – and that is a big problem. The government does not really show in actions that it respects these doctors and lawyers, and these professionals also do not show that they care especially when the president is meeting doctors in London!

So, everyone thinks he/she can win on the football pitch and in the academic pitch, creating tension. If you check well, that is a sign of a weakening institution. No one cares what happens to Nigeria; that should concern you because it takes great skills to make doctors and lawyers angry at the same time!

Poor Shoprite – its voyage to Nigeria has not been without drama. The latest is that after the asset changed hands in Nigeria, workers want to be paid terminal benefits before the new owners take charge, and possibly re-hire them: “What you see happening here today is just a picketing type of strike, that is what the workers came here to do. Just to picket the entrance of Shoprite. Apparently, in a bid to stop them from trading until our pending proposals and demands are met by the management.” A Union member noted that “workers are supposed to be paid off and not transferred to the new owners without their consent” as Premium Times summarized.

The company has a note that it would fire workers who fail to return to work (see below): “Please note that your conduct is in breach of your contract of employment, company rules and procedures and the applicable federal legislation. …“You are accordingly instructed to return to work immediately in an orderly and diligent manner”.

But the workers are saying that “People can’t come to our country, invest, and we give you all you need and then you have Nigerian staff that are not treated very well, that’s bad.”

I am hoping they find a common ground – and get back to work. But if there is a double trigger acceleration clause, these workers may be out of luck legally; the clause requires two events to trigger acceleration, usually a company sale and involuntary termination of workers. When that happens, current workers are not guaranteed new jobs in the new company.

So, the new owners can decide to pay terminal benefits and refuse to rehire! The Union must check the deal agreement.

Yet, it is always fair to share the goodies with your staff. But here, no one considers this as an exit, from any point of strength.  In other words, Shoprite Nigeria’s original investors are not necessarily popping champagne because of this sale. Most of them are bloodied after this voyage and it would  be good for the workers to have that in consideration as they negotiate. A labourer is worthy of his/her wage; the management and the workers must find a mechanism to avoid further harm to the company.

Double-trigger acceleration, as the name implies, requires two events to trigger acceleration – most typically the sale of the company and the involuntary termination of the employee, usually within 9-18 months after closing, and in some cases including a short pre-closing window (3 months or shorter) to counter any preemptive termination by the company to avoid a payout.  Typically, the qualifying termination means termination of employment by the company without “cause,” but can also include resignation by the employee for “good reason” (e.g. a cut in pay, mandated relocation or significant downgrade of duties).

Double-trigger acceleration has become very popular with early stage companies and aims to align the interests of the employees, the investors and potential acquirers by (i) providing a safety net for key employees, some of whom may be removed in the consolidation during post-closing integration – CFOs and GCs are particularly susceptible, (ii) reducing dilution from automatic acceleration, and (iii) easing the qualms of the acquirer by preserving the requirement of ongoing service to the company in order to vest.