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Home Blog Page 5930

The FUGAZ Outperforms!

By
Ndubuisi Ekekwe
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1

I am certainly biased having worked as a banker in Lagos [Wake up at 5 am, be at work at 6.30am to get systems up before others start coming. Leave work at 10pm. But get paid really well]. Yes, I do think that the most productive professionals in Nigeria are in the banking sector. And they are the most innovative to get out of troubles, fast. After them, you put telecoms who are also showing resilience. Yes, you can argue that the carpenter is working harder, but here, I have used two words – “productive” and “innovative”!

Yes, no matter what the economy has thrown to the banking sector, it has found a way to make money and avoid troubles. But in 2020, I was worried when Covid-19 switched off the nation via lockdowns. I wrote here that we could see an 8% Non-Performing Loans (NPL) ratio in the banking sector. Honestly, I was concerned about a potential avalanche of bad loans.

The number is out: they kept things low at 6.01% [the Central Bank of Nigeria prudential maximum threshold is 5.0%]. That is an achievement because in this business, you look at things in parts of a unit percentage as 0.1% of billions of naira is a huge amount of money.

“The Monetary Policy Committee (MPC), however, noted the marginal increase in the Non-Performing Loans (NPLs) ratio which rose to 6.01% at end-December 2020 from 5.88%at end-November 2020 and above the prudential maximum threshold of 5.0%. While noting that this development is not unexpected under the prevailing circumstances, it urged the Bank to strengthen its macroprudential framework to bring NPLs below the prescribed benchmark,” Central Bank of Nigeria MPC

For the FUGAZ (FBNH, UBA, GT Bank, Access Bank and Zenith Bank) – well done. Sure, there are other banks but those ones are marginal in the real scheme of things.

Update: Yet, looking at things technically, the 6% would have tracked my 8% if not for the regulatory forbearance from CBN: “Nigeria’s NPL ratio of 6% could have been worse than it currently is were it not for the regulatory forbearance granted by the central bank due to the Covid-19 pandemic” notes Nairametrics.

  • Banks were allowed to restructure most of their loans deferring principal repayments for borrowers who faced cash flow challenges due to covid-19.
  • Without the forbearance, the non-performance ratios of the banks could have been worse than the 6%.

 

(image, Nairametrics, resized for our size)

Making Sure Media Is Used Properly for Nation Building

By
Ozioma Okey-Kalu
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0

It is assumed that the basic function of the mass media is to disseminate information to enlighten people on things happening around them. Through this enlightenment, mass media can transmit people’s culture and norms to the audience. Mass media is also used for entertainment, and so can be used for relaxation purposes. However, one function of mass media that is unknown to many and can be detrimental if manipulated by the wrong party is its persuasive function.

Mass media is one of the agents of socialization because it is effective in teaching and forming the characters of society members. Socialization is a process, whereby people learn to live in a given society. Through socialization, an individual is taught societal values, beliefs, taboos, accepted behaviors, and norms. It influences people by telling them what to do and what to believe in.

The easiest and fastest way to achieve this is through the mediums of mass media – television, newspaper, magazine, internet, radio, and so on – which reach a large number of the targeted audience within a short while. Hence, mass media does not just enlighten, entertain or transmit culture, it is also meant to influence the behaviors, beliefs, thoughts, and actions of others. This is why it is dangerous when used for negative intentions.

The increase in the rate of social vices has been attributed to peer pressure. Of course, with the arrival of social media, peers from different parts of the world can connect through social media platforms. Today, the world is gradually becoming a small community because people can virtually connect and constantly stay in contact irrespective of their geographical locations. They can organize, through social media, to carry out actions considered illegal by their society. For instance, recently, sex parties were organized in Nigeria through social media platforms. Some of these parties were intercepted by law enforcers but many managed to beat the police. What is more, videos of these parties were uploaded to the internet and made to go viral. This attitude can ginger others to organise their party and maybe they will get away with it. Today, parents do not only have to worry about the friends their children keep physically but also the ones they keep virtually.

Another negative effect of mass media is the radicalization of individuals. When the media constantly reports a problem or threat, it can create an effect that will radicalize the audience later. An example includes overzealous reports on political events, which are unfavorable to the people. By doing this, the media works on the audience psyche and, gradually, prepares them for radicalization. Furthermore, analyzing a movement to portray its benefits could also radicalize people. This is why mass media has indirectly been used to cause public unrest, mob actions, insurgency, assassinations, banditry, and thefts.

Mass media can also affect people’s mental health. It has been reported that mass media, especially social media, is one of the factors that cause anxiety and depression. Research has shown that people, who often visit social media, feel lonely and depressed despite having many virtual “friends”. Virtual friends are said to prevent people from making real-life ones and, since it is only through real-life contacts that humans can relieve stress, having more virtual friends than real-life ones creates loneliness.

Even though mass media has negative effects on individuals, it is still an indispensable tool for human and societal development. However, in the hands of the wrong persons, it becomes the tool for destruction. The major problem here is that it is almost impossible to prevent its use by the wrong persons. Nevertheless, understanding its power will help you to filter what you are exposed to. Hence, so long as you steer clear of any piece of information that will radicalize you or make you commit an offense, you will benefit fully from the mass media.

A New Article Coming At Harvard Business Review On Monday

By
Ndubuisi Ekekwe
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0

This is the link at Harvard Business Review.

At 9 am ET (United States) on Monday, I will have an article in the Harvard Business Review titled “Is Your Startup Doing Everything It Can to Capture Value?” Please if you can, check it out. Another one – a big one – is also coming. That one is on Igbo Apprenticeship System. The Japanese have Kaizen, there is Confucius of China, Africa has the Apprenticeship System which runs on the ubuntu philosophy.

The study, institutionalization and application of the Apprenticeship System is something I am passionate about. That name “Nwaoha” [child to the community] should mean something in modern Nigeria and we should not allow any child to be left behind, irrespective of background.

FilmoRealty’s Vamp Facilities Intelligence as a Potent Tool in Immersive Facilities Management Practice

By
Mutiu Iyanda
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0

Our analyst had earlier noted that players and professionals in the Nigerian Facilities Management industry need to embrace the immersive facilities management practice as the pandemic continues. This practice is also encouraged after the pandemic. Practicing IFM, according to our analyst, would enable players and users to co-create and share value without problems and avert the spread of COVID-19.

Leveraging earlier piece on the development of innovative tools by the FilmoRealty, a player in the industry, in this piece our analyst notes that the company’s Vamp Facilities Intelligence should be considered by the players and professionals in addition to the numerous technologies such as Unity 3D and Photon Unity Networking available for IFM practice, virtual reality remains the most appropriated. Vamp Facilities Intelligence has ability to curate, mine and aggregate real time data from client-side to the provider-side. In this video, Lukman Edu, the Chief Executive Officer of the company explains effectiveness of the technology.

http://https://vimeo.com/400541543

The President’s Best Gift

By
Ndubuisi Ekekwe
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4

Ladies and gentlemen, the political temperature seems normal. Now you can listen to NPR radio with no analysis of former President Trump’s tweet. Twitter had banned Mr. Trump after a meltdown in Washington DC. Interestingly, I am calling that ban the best gift for the Biden presidency so far. Because Mr. Trump does not have access to his loudspeaker, Biden has been controlling his messaging. Had Trump been active on Twitter, the temperature would not have been this controlled.

As Biden signs one executive order after another, Trump could not tweetly challenge or even comment. It is simply unbelievable how lucky Mr. Biden is for that extremely invaluable gift from Twitter.

From masks mandate on federal properties to revoking the Keystone pipeline, Trump’s silence makes Biden evidently truly in charge. 

In 2021, others will fight to give you an unbelievable gift. Twitter has done a lot of good for Mr. Biden when it banned Trump. Not having to deal with those tweets could add more than 3% to Biden’s personal productivity!

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