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Class Begins Monday (Aug 10), 12 noon Lagos time – Registration Continues; Join

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The 3rd edition of Tekedia Mini-MBA begins tomorrow (Monday) at 12 noon Lagos time. If you have registered, at 12 noon Lagos time, visit the Board and begin the journey on the mechanics of business innovation, operational execution and leverageable growth. Registration continues; join here.

Tekedia Institute – home of quality education.

https://www.tekedia.com/mini-mba-3/

China’s Export Surges, But Its Low Import May Brew Fresh Trouble with the U.S.

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China has continued to record unprecedented economic growth in its fight for recovery from the ravages of coronavirus. China’s exports in July saw a surge spurred by lockdown goods demands from around the world.

The outbound shipment rose 7.2 percent from last year. The surprising record was powered by rising overseas demands for medical supplies and goods needed during lockdowns.

The surge came after exports witnessed minor growth at 0.5 percent in June. But imports fell back at 2.7 percent at the same period.

Data released by the Chinese Customs Administration on Friday showed that imports contracted by 1.4 percent a year earlier in US dollar terms, worse than it was projected by analysts.

SCMP reported that China’s trade balance for July stood at $62.33 billion, an increase from $46.2 billion in June.

Economists said the growth has been masterminded by shipment of medical supplies to other countries still under the scourge of coronavirus. And as economies gradually open the need to fill the vacuum of exhausted non-medical supplies, (especially electronics) saw Chinese export of goods increase in the second quarter.

“In July, the export strength was largely driven by electronics – especially ‘automatic data processing equipment,’ mobile phones, household appliances, audio and video devices – and high-tech products, with traditional categories like plastic and textile also contributing well,” said Louis Kuijs, Asia-pacific analyst at Oxford Economies.

China is reaping the benefits of its strict approach to COVID-19 pandemic’s containment. The Southeast Asian giant started opening its industries and services early, as soon as there was significant decline in the hard hit cities, particularly Wuhan. The early recovery placed China in the position to export supplies to countries contending with emerging cases of the virus.

However, as economies around the world begin to open, supply demand of depleted goods surged, especially household items, pushing many countries to import from China, as it appears to be the only economy functioning in the capacity to meet the demands.

But in a poll conducted by Bloomberg, a group of economists had predicted that Chinese exports would experience 0.7 percent plunge in dollar terms while import is expected to rise by 0.8 percent.

While there has been significant progress in the global supply chain, Chinese shipment has been hit with near collapse situations due to decline in demand from developed markets.

However, SCMP reported that China’s exports to the United States rose by 12.5 percent in July, while imports from the US rose by 3.6 percent, even though there’s pressure from Washington on Beijing to close the trade deficit. Most of US’ companies are still struggling to get back to business, which gives China’s export an edge.

Orders for agricultural products went up in July, as demand for corn and soybean rose. Analysts said the surge does not reflect in shipment, which means the products were consumed locally.

Meanwhile, there has been a decline in purchase of energy that China is struggling to meet 5 percent of its target in the energy sector. Two commodities it has witnessed import surge are meat and grain that rose 94.48 percent and 16.2 percent respectively in the first seven months of the year, according data from Chinese Customs.

Nevertheless, the sustainability of the export surge is not certain as it depends mainly on medical supply. For the second quarter of the year, supply of medical equipment and protective gear resuscitated the export. By July, there has been a 78 percent increase year-on-year in shipment of medical devices.

Notwithstanding, the shipments are beginning to plunge as more countries curtail coronavirus, lift lockdowns and open economies, and local products are appearing more on virtual markets. Analysts at Panjiva Research said US seaborne shipments of ventilators, gowns, masks, and goggles all fell in July compared to June, even though many states are still recording spikes in the number of coronavirus cases.

Panjiva said that US import of ventilators nosedived 26.6 percent in July from June, upon the previous record of 0.8 percent dip from May to June.

Beijing will meet Washington around August 15 to discuss their trade deal. Part of the agreement is that their progress will be assessed every six months to determine the future of the deal. With China lagging in its import quota from the United States, and Donald Trump blaming the current American economic situation on ‘China virus,’ the deal may take a new turn.

Northwest Killings and the Need for Independent Vigilante Services

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Sometime ago, around 1998 or 1999, cases of armed robbery, killing and raping was rampant in Anambra State. Then, in Awka, there must be a case of robbery every night. What we usually do in the morning was ask which part of the town was robbed. Any part the armed robbers visited will be free from them for some weeks to come. In fact, if you hear that a particular area has been attacked, you will bundle your daughters and wives to your relatives that live in the area (if you have any) because you are sure that they will be safe from robbers for some time.

Then Awka was nothing to write home about in terms of security. People lived in fear. No one spoke for the inhabitants of the town. Police only visited areas where crimes were committed in the night and that’s just it because they will definitely visit another crime scene the following day. At a stage, it became the case of “every man on his own”.

This robbery incident I’m talking about is not a case of robbers visiting a compound or an apartment. Here, I meant a whole street or two being attacked simultaneously. If your area doesn’t receive these night visitors between 11pm to 1am, just know that it isn’t your turn. These people attacked in large numbers and took time to move from house to house and from compound to compound until they have satiated their devilish desires. Believe me when I say that no police or any other security agents will disturb them until they finish their assignments and leave around 4 or 5 in the morning. Then, it was really terrifying.

Awka was not the only part of Anambra State that underwent this type of horror. Onitsha equally experienced it. The worst thing during that period is that these night marauders lived in our midst and nobody could say anything. People knew who they were and where they went when they finished their daily (or should I say nightly) assignment to deliver their booties. But who will talk? Both the “workers” and their “employers” made themselves invincible and ruled by fear. It is equally possible that they had some backings from the leaders, who threw their faces into the bush while the citizens suffered. However, thanks to the OMATA men, a solution was found. That solution was the BAKASSI BOYS.

Majority of you must have heard about “Ndi Bakassi” that detected people that have “wasted human blood” through the use of juju. I actually can’t say how they get their Intel but I know they judged and killed those they found guilty. They don’t believe in “fair hearing” or whatever our legal system uses to free killers and robbers. Theirs was more like “catch and kill”. They usually take those they sentenced to death to the public, slaughter them and burn their remains. In fact, Bakassi Boys even denied the “guilty” of good burials and funerals.

I was among the people that didn’t like the Bakassi Boys. My problem with them is the way they slaughtered people in the public. I always believed that their spectators, especially the young ones, will experience trauma from such an encounter. But then, like people reminded me, the coming of Bakassi Boys brought robbery and what have you to a halt. I am not exaggerating if I say that Ndi Bakassi came into Anambra and in less than two weeks, all those night marauders and their “employers” disappeared. Some of them that I know have not returned till date. Rumour has it then that they left town. But insider information said that they were “picked up” by Bakassi and that was the last anyone heard of them.

Now, whether Bakassi Boys did their jobs perfectly well or not is not what people want to know. The major thing is that they delivered. Because of them a lot of people were able to sleep again. The barking of dogs or the rustling of leaves no longer scare people into oblivion. We were able to have our lives back. All thanks to the Bakassi Boys.

Now, let’s look at what is happening in Southern Kaduna and in other parts of Northwest Nigeria. These people wasting lives are called “bandits”. Some people have come on Twitter to speculate that they are an Al-Qaeda terrorist group. Some other people said that they are just civilians with guns, who operate with motorcycles. I don’t know who they are, but I know they shouldn’t be taken for granted.

From the look of things, it is obvious that the Nigerian security agencies cannot handle the security situations in this country, at least single handedly. They need help. If you ask me, I will say that something is wrong somewhere but we don’t know what it is. This means that it is time for these indigenes to take matters into their own hands and stop waiting for the government to manage their security situation.

From what I know, the Anambra State government did not invite the Bakassi Boys. Of course if the state governor then did not bother paying civil servants their salaries, is it security issues he will bother himself with? What I heard then was that OMATA people invited Bakassi Boys to sanitise Onitsha. However, how their works in Onitsha favoured those of us in Awka is what I couldn’t say. But I know that they never came to Awka officially but their “breeze” touched us and other parts of the state. But then, I don’t know why they left and why strong vigilante services have been discouraged in this country.

If it is possible, private individuals and associations can come together to employ independent vigilante services that will deliver. They should consider taking their security matters into their own hands. They should not wait for the government to protect them because, let the truth be said, the government is not doing a wonderful job at that.

Like Buratai once said, these bandits and insurgents live among citizens. It is therefore the duty of the citizens to fish them out and hand them over to…who exactly? The government that will return them into the society and give them the chance to “deal with” the whistle blowers? Well, that is a story for another day.

UI VC Selection: How Vacancy Advertisement Gives Male Professors Edge Over Female Professors

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University of Ibadan, a federal university

From the developing countries to the developed ones, the need to ensure gender equality remains issues of national and global importance. Several reports have indicated that some countries are not likely to bridge their gender gap by 2030, the year most countries are expected to realise goals and targets related to gender imbalances in the Sustainable Development Goals Agenda 2030.

The issue of gender inequality cuts across all aspects of every society. In business, social setting and educational institutions, men are being favoured in terms of positions habitation and expressing views than womenfolk. In Nigeria, the issue is more complicated when one examines it from the cultural and religious perspectives. Some norms and values of the ethnic groups still prioritise male children more than female children. Some elements in religions are not helping the matter too. The Global Gender Gap Index has placed Nigeria on 146th position out of 152 countries ranked for gender gap bridging for 2020. Individual index scores show that Nigeria is placed on 128th position as a country that ensures political empowerment for women.

However, this piece is not aimed at revealing what and how Nigerian stakeholders have worked on reducing gender inequality and expected to close the gap in the future. The concern of the article is how University of Ibadan’s Registry Office constructed vacancy advertisement for the position of Vice Chancellorship. This piece is in continuation of our analysis of roads to the selection of new Vice Chancellor for the Nigeria’s oldest University as the current occupant’s tenure ends in November, 2020.

In May, 2020, Mrs Olubunmi O. Faluyi, the Registrar and Secretary to the University Council released vacancy advertisement message to the public, calling applicants for the Vice Chancellorship position of the University. The message is reproduced in this article and analysed further using a critical gendered lens with the intent of revealing academic leadership ideals that resonate with masculine and feminine polarity.

To bring out the needed insights for discourse, our analyst coded the message using existing principles and assumptions of critical gender equality theories. Efforts were made to expose wordings that reflect masculine and feminine leadership ideals. When we found occurrence of masculine leadership wordings more than feminine leadership wordings, our analyst concluded that the University seems not be ready to allow more female professors as contenders. This is premised on the fact that the content of the advertisement [how words are used] casts doubt on the University’s agenda on gender mainstreaming started some years ago.

Our expectation of seeing words that balance both masculine and feminine leadership ideals was not met. It emerged that the inclusion of masculine words more than feminine words made the position seem less appealing to female professors, thereby limiting the applicant pool for the position. Our analyst posits that meritocracies can only work when everyone irrespective of gender disparity has a fair opportunity to compete.

The University’s Vision

The Vision of the University is, “to be a world-class institution for academic excellence geared towards meeting societal needs”, therefore, it intends to be ranked among the best Universities world-wide, in keeping with the Mission statement:

  1. To expand the frontiers of knowledge through provision of excellent conditions for learning and research.
  2. To produce graduates who are worthy in character and sound judgment
  3. To contribute to the transformation of society through creativity and innovation
  4. To serve as dynamic custodian of society’s salutary values and thus sustain its integrity

The total student population currently stands at 41,743 and this comprises:

  1. 18,122 Undergraduates
  2. 15,024 Postgraduates
  3. 8,597 Open Distance Learners

There are 15 Halls of Residence which provide accommodation for about 30% of the population of students in the regular studies mode. The University has a total staff strength of 5,339 with 1,212 housing units for both senior and junior staff.

The University of Ibadan is, therefore, a truly complex organization. Its governance is based on the Committee System, all the Boards and Committees report to Council and/or Senate. In order to carry out its main functions of teaching, research and community service, the University has been providing to a large extent, basic services like electricity and water supply, security, health facilities and other municipal services to its staff and students.

Staff salaries and emoluments currently are in aggregate of about Thirteen Billion Naira per annum. Through its alumni and alumnae, the University of Ibadan has, in the past seven decades contributed significantly to the political, industrial, economic and cultural development of Nigeria.

The Candidate

The candidate for the post of Vice Chancellor is required to possess a good University education and should be a proven, successful manager of human and material resources. Specifically, the candidate shall be expected to:

  1. be a highly distinguished scholar of the rank of Professor, with a minimum of ten (10) years experience on that level and demonstrate ability to provide academic and administrative leadership for such a well-established institution;
  2. be a person of proven integrity;
  3. be not more than 65 years old as at the date of possible assumption of duty on 01 December, 2020;
  4. command the respect of the national and international academic communities through his/her track record;
  5. strengthen the bridges between staff, students and other members of the University community;
  6. be a person with a clear vision for the development of the University
  7. enjoy excellent physical and mental health;
  8. attract the much-needed funds into the University.

The Critical Insights

Despite being analytical in the construction of the message and confident about the kind of Vice Chancellor the University wants, the Registrar employed masculine words (63.63%) more than feminine words (36.36%). This connotes images of a strong and charismatic masculine leadership style. As stated earlier, this is against the University’s gender mainstreaming policy, which aims at addressing gender issues related to teaching, learning, research and service.

Beyond this, it is also not in line with the current Vice Chancellor’s priority [Professor Abel Idowu Olayinka’s the eighth priority is to promote gender mainstreaming by creating incentives to attract more female academics, including early career researchers]. Our checks show that male Professors have been in a Vice Chancellorship position over the years of establishing the University. According to the existing information, few female Professors have held the position of Deputy Vice Chancellor, especially in the areas of administration, academics and research.

Exhibit 1: Sentiments in the Vacancy Advertisement

Source: 2020 UI’s VC Vacancy Advertisement, 2020; Infoprations Analysis, 2020

Exhibit 2: Masculine Wordings versus Feminine Wordings

Source: 2020 UI’s VC Vacancy Advertisement, 2020; Infoprations Analysis, 2020

Exhibit 3: Proportion of Male Contenders to Female Contender

Source: Contenders, 2020; Infoprations Analysis, 2020

The Big BVN’s Unification in Nigeria

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The new Central Bank of Nigeria (CBN)’s Global Standing Instruction (GSI) policy is a big unification in the Nigerian lending ecosystem. The CBN has three core reasons for this policy, and they include facilitating an improved credit repayment culture, reducing Non-Performing Loans (NPLs) in the banking industry, and watch-listing consistent loan defaulters. The following types of accounts qualify for GSI: Individual Savings, Current, Domiciliary , e-wallets and investment/Deposit Accounts.

Thankfully, corporate accounts are not included as that would have resulted in a homo sapiens-zation of Nigerian companies where companies become human elements on lending transactions. Yes, every company bank account in Nigeria possibly has a BVN (Bank Verification Number) associated with it and including corporate accounts in GSI would have been troublesome! Premium Times explains the GSI.

Under the GSI, it will no more be possible for a bank customer to take a loan or credit from one bank and refuse to pay back, while continuing to maintain several other accounts in other banks with enough credit balance that could have paid back the debt of the first bank.

For instance, with the new policy, if a bank customer or account holder is granted a loan or credit by a bank (say GTB), and defaults in paying back when the facility becomes due in line with the agreed GSI repayment mandate, GTB can contact any other bank(s) in the country where the defaulting customer holds an account(s) with credit balance that is enough to offset the full value of the loan or credit and recover the loan or credit from there.

For instance, if a customer takes a loan or credit from GTB and defaults in repaying according to agreed repayment schedule, GTB can contact Zenith Bank, Access Bank and First Bank, if the customer has accounts with sufficient credit balances in those banks, and the accounts are linked by his or her bank verification number (BVN), to recover the full value of the loan or credit without any further recourse to the defaulting customer.