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Law Session Now Posted; Law Faculty Coming To Tekedia Live on Saturday

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This week at Tekedia Mini-MBA, we are focusing on Law. Our two Faculty members cumulatively hold law degrees in Europe, Africa and the United States. And they have practiced law in many domains. Experience the quality of Tekedia Mini-MBA as two brilliant legal minds take us to an excursion of business & commercial law, covering IP, securities, contracting, negotiation, etc, bringing Harvard Law education, European Law education and the Nigerian law roots in one place.

Business & Commercial Law  – Chukwuemeka Mbah (LLB, BL, LLM) Law, Manager, Sherwin Williams

Contracting, Negotiation and IP – Jeff Chineme Maduka (LLB, BL, LLM), Snr Legal Manager, American Tower

Meanwhile, we are hosting Barrister Mbah at Tekedia Live on Saturday. He will answer your business law questions.

Meanwhile, early registration has started for the next edition of Tekedia Mini-MBA. Do it today and have access to the ebooks and business cases we are publishing as part of our library. Begin here

Tekedia Academic Programs

The Wisdom from Leo Stan Ekeh, Chairman of Zinox, on HealthPlus Ligitation

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Somebody posted this on the comment section of a post we put on Tekedia regarding the founder-investor investing paralysis in HealthPlus, a Mauritius-based pharmacy chain with operations in Nigeria. The insight was attributed to the Chairman of Zinox Group, Mr. Leo Stan Ekeh. We have copied the insight below, and are asking our community to read it. It has great lessons for everyone. Tekedia remains neutral on this HealthPlus case; we are pushing the contents as part of our passion to inform and educate in this ecosystem.

‘‘Looking for foreign investors is like taking a bank loan locally. You must keep your promises. When you talk about knowledge economy, it means you should be knowledgeable enough to understand what you are going into or pay quality corporate law firms to advise you, but you must listen to them. The money the bank lends to you belongs to depositors and investors and you must do everything to keep to the terms of the loan. Same with foreign investors. They are here to help you build and make money and in the process, you make more than you would have made.

They help you alter your destiny. They are not charity organizations. Sincerely, they add huge value to help you institutionalize corporate governance and make more money than you would have made. I had warned severally in conferences that the failure rate of startups in Nigeria is unbecoming of a nation and an embarrassment. We should respect agreements signed in this 21st century. That is the only way this country can grow. I am a child of trust economy, so I must keep strictly to agreements to grow. We have world class locally owned legal firms to guide us in these partnerships.

 

The full insight…

from Leo Stan Ekeh, Chairman of Zinox

“I have the highest regards for Mrs. Bukky George. I see her till tomorrow as a miracle child like myself. She is extremely brilliant with great energy and passion to succeed in her sector and there are few such women in Africa and my wife is one of them, so it will be spiritually wrong for me to be against her. I know both parties and simply put, they are all credible parties in partnership. I have known her investors – Alta Sempta Capital for some time before I met Mrs. George and we have had preliminary engagement relating to their potential investment in one of my companies and my ambition to roll out across Africa.

But till date, I do not have a kobo share in any of their different investment vehicles including a kobo in HealthPlus, though anyone has a right to invest in any company of his or her choice without clearance from the general public including investing in any of my companies. I have great passion for the health sector and those around me know my investment and support in that sector locally. It is my prayer they resolve their challenges soonest. I want to keep the several discussions I had with Mrs George private because she is an amazon. I have my highest regards for successful African women and my Group is possibly the only one in the world with five certified women as Managing Directors. You can now understand!”

‘‘Looking for foreign investors is like taking a bank loan locally. You must keep your promises. When you talk about knowledge economy, it means you should be knowledgeable enough to understand what you are going into or pay quality corporate law firms to advise you, but you must listen to them. The money the bank lends to you belongs to depositors and investors and you must do everything to keep to the terms of the loan. Same with foreign investors. They are here to help you build and make money and in the process, you make more than you would have made.

They help you alter your destiny. They are not charity organizations. Sincerely, they add huge value to help you institutionalize corporate governance and make more money than you would have made. I had warned severally in conferences that the failure rate of startups in Nigeria is unbecoming of a nation and an embarrassment. We should respect agreements signed in this 21st century. That is the only way this country can grow. I am a child of trust economy, so I must keep strictly to agreements to grow. We have world class locally owned legal firms to guide us in these partnerships.

I have had at least one major public quoted company as foreign investor and the experience is rewarding. They remain my best friends till today and can vouch for me on major international transactions and they have done this severally even though I bought them out few years ago. We need these people to scale. Nigeria doesn’t have the real financial capacity to build globally rated companies. Trust me on that. Thank you.’’

Source: comment section of Tekedia

Tips on How to Survive Kidnappers’ Den

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Nigeria police continues to struggle to maintain peace

It may come as a shock to Nigerians to know that kidnapping is becoming another money-making venture in their country. We hear some in news, especially when it affects a top political officer or travellers along Kaduna-Abuja Expressway. But what many of us didn’t know is that this devilish act happens in almost every part of the country. For instance, I have not heard media houses announcing any of the incessant kidnapping that happens along Enugu-Port Harcourt Expressway nor have I seen where they wrote about the kidnap victims that were not “Big Men” or “Big Men” relatives. But unfortunately for us, kidnappers don’t attack only those people presented to us by the media.

On 1st October, 2020, I stumbled on the tweet of an investigative writer, Fisayo Soyombo, who lamented the kidnap of his colleagues and the huge ransom the kidnappers demanded for. He wrote a heart-rending post on how his colleague begged over the phone for arrangements to be made from whatever angle possible so his abductors do not kill him on that very day. It was quite pathetic and painful.

But what actually made me drop this article is the type of comments his post attracted. As of the time I read that tweet, two kidnap victims have dropped the strategies they used to come out alive from their kidnappers’ den. No, they didn’t do James Bond and Jackie Chan by killing all the kidnappers. And no, they didn’t do ninja to sneak out noiselessly when the kidnappers were sleeping. And don’t even bother thinking about the police rescuing them. These men NEGOTIATED their way out. They paid to leave with their lives. In fact, they bought back their lives from these kidnappers. What a shame to our country.

Well, the focal point of this essay is the advice these men gave to Fisayo and to every other Nigerian that stumbled on the post. As I implied earlier, kidnappers do not only go for the rich and famous; anybody can be their victim. Somehow, our system has failed us and we have to think of ways to help and protect ourselves. Well, below are the three core tips given by these men.

  1. Negotiate with them

The thing these men highlighted the most was negotiation. According to them, nobody should argue with the kidnappers or take their threats for granted. If they give the ransom, try to negotiate with them. As these men said, negotiation skill is the sure way out of the kidnapper’s hold.

  1. Don’t Involve the Police

I’ve been thinking of the best way to put this but none is coming up. These men blatantly advised against involving the police here. They didn’t say why but they indirectly painted our police black. In fact, they advised that the person’s family should engage private investigators instead of going to the police. It’s a pity what our system is turning into.

  1. Don’t call them bluff

One of the men told Fisayo not to panic because kidnappers always threaten their victims with death if their demands are not met. He claimed that their threats are always empty. But the second person advised that their threats should never be bluffed because those men can go to any length to obtain the said ransom. This is actually scary.

“Why is she telling us all these?” some people will ask.

Well, it is obvious that our system has failed us. These kidnappers are in our midst and are monitoring our movements. They carry out their businesses freely without hitches. But they destroy lives. I am not a security expert and so I am not in a position to give tips on how to avoid being kidnapped. But at least, I have brought tips given by abductees on what we can do if our loved ones fall into their net.

May God continue to protect us all.

Week 16 Session

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Notes: Tekedia Institute has added more certificate tracks for capstone; click for them here. The N75 billion Nigeria survival fund presentation (pdf) here and here. Tekedia LIVE  Tuesday| 7pm-8pm | Business Process & Leadership – Ayodeji Oyebola, Saint Mary’s | Zoom link Thursday | 11am – 12noon | General – Ndubuisi Ekekwe | Zoom Link Saturday […]

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Week 9 Session

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Notes: Tekedia Institute has added more certificate tracks for capstone; click for them here. The N75 billion Nigeria survival fund presentation (pdf) here and here. Tekedia LIVE Fri | 7pm-8pm | Internal Auditing Strategy for SMEs – Abel Osuji, Afreximbank | Zoom Link Saturday | 11am – 12noon | General – Ndubuisi Ekekwe | Zoom Link […]

This post is only available to members.