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Your Personal Invitation To Join Our Innovators and Project Champions

By
Ndubuisi Ekekwe
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0

At Tekedia Institute, we nurture innovators & great project champions. We work with universities allowing their students to take our program as an elective. We work with banks, helping them to prepare their merchant customers for the opportunities of today and tomorrow. We are working with a state government to help it move from invention to innovation.

Great companies are training their workers here. Entrepreneurs are being prepared here. Class begins Aug 10. Register today; early bird ends on Friday.

Tekedia offers an innovation management 4-month program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents.

CODE PROGRAM
MINI Tekedia Mini-MBA costs US$140 (N50,000 naira) per person.
MINR Add extra (optional) $30 or N10,000 if you want us to review and provide feedback on your labs.
Add extra (optional) $60 or N20,000 for each certificate specialty course. You must have attended, begun or about attending Tekedia Mini-MBA to qualify. The following Certificate tracks are available:
CLSM Certificate in Logistics and Supply Chain Management
CSBM Certificate in Startup and Small Business Management
CETS Certificate in Exponential Technologies and Singularity
CPCD Certificate in Personal Career Development
CPFM Certificate in Personal Finance & Wealth Management
CBIS Certificate in Business Innovation, Growth & Sustainability

The Certificate program is completely capstone-based. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company. Tekedia Institute supervises the work.

Our payment options are here.

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

 

Nigerian Professionals’ Emotions, Sentiment as Ibadan Wants Indigenization of UI VC’s Appointment

By
Mutiu Iyanda
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0
University of Ibadan, a federal university

In less than a few months that the University of Ibadan through the Registrar announced the vacancy for the post of Vice Chancellor of the institution, people have continued to express their views who becomes the new Vice Chancellor on December 1, 2020. In a series of articles, our analyst has highlighted academic contributions of some of the contenders. Our analyst has also pinpointed the reasons the University must be led by a strategic thinker not only planner.

Following our analyst’s pieces, Professor Ndubuisi Ekekwe picked interest in some of the insights from the  pieces and wrote two articles that focus on Ibadan’s demand for the appointment of the new Vice Chancellor from the City. In the current piece, our analyst examines people’s reactions to his [Professor Ekekwe] articles with the intent of bringing out emerging emotions and sentiments. Our data indicate that the reactions of the first 21 people generated a total of 778 emotional index, covering anger, fear, sadness and joy about the City’s demand.

Memebers of the Central Council of Ibadan Indigenes at a recent Press Conference, announcing the demand.

Over 45% of the emotional index were expressed within the sadness category, signifying the sampled professionals’ unhappiness about the demand. Despite this, over 22% of the total emotional index shows that some of the professionals are happy about the demand. From the two schools of emotion, it is clear that those in the sadness category did not see the reason why the City is indigenizing the appointment considering the fact that the institution is owned by the Federal Government.

This school also wants the leaders and elders of the City to respect Federal Character clause, which places nationalism above regionalism or ethnicity in selection. Beyond this, the school also believes that the City needs to promote abilities and capabilities of their sons and daughters who are in the race than emphasizing indigenization.  “It is wrong in an academic environment. We are talking about citadel of learning here. Meritocracy should replace mediocrity here,” a professional stressed.

“The Ibadan indigenes appealed, which is not a crime or abomination anyway, people are allowed to ask for something, even when they know they can’t get it; let alone when there’s even a prospect of getting it. The problem is Nigeria, because it never explained anything to the host communities of federal properties or institutions, so you continue to see this kind of thing across the land,” Francis Oguaju, one of the professionals said.

Another professional points out that “since admission processes focus a lot on catchment areas, leadership will follow suit. And next will be recruitment. Left for me, the only positions that should be left solely for indigenes should be junior level officers like cleaners and the rest. But I know that has been the usual practice.”

“Tribalism, ethnicity and religion that have been the bane of this country. Until we desist from them, we will find ourselves moving backward with speed while other Nations prosper. I wonder what we see in mediocrity that we celebrate it with open arms. The communities that are agitating for their own person to head some government institutions ended up worse off (i.e. NDDC), Why can’t we ask a Nation/People think and act right by appointing individuals to the right positions based on Merits and track records,” another professional pointed out.

Home Ownership Through Nigerian Government Funding Support: Key Needs and Issues

By
Mutiu Iyanda
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0

In its efforts of making a home available to every Nigerian, the federal and state governments have made some laws through legislative houses. From early 1970s to the 2000s and the current decade, laws that focus on making accessing housing funds and reducing other problems preventing effective home ownership have been passed.

For instance, the Mortgage Institutions Act was enacted in 1989 with a view of helping people at the middle and bottom of the pyramid accessing government’s housing intervention funds. This is equally followed by the enactment of the Federal Mortgage Bank of Nigeria Act 1993, which led to the establishment of the Federal Mortgage Bank.  The Trustee Investment Act,1962, the Nigeria Social Insurance Trust Act,1993, the Nigeria Insurance Act, 2002, the Investments and Securities Act,1999, the Federal Housing Authority Act,1990, and the Land Use Act, 1978 have also one way or the other helped and still assisting prospective home owners and other stakeholders.

A number of these Acts were enacted with the strategic intention of increasing the provision of low-cost houses and developing the country’s real estate and construction sector through effective participation of the private sector. However, evidences over the years indicate that Nigeria still struggling in its drive of bridging 17 million housing gap. This, according to some experts, is largely due to the weak institutional framework, corruption, inadequate low-cost housing policy, lack of political will and absence of the national housing database.

Across the country, funding remains the most determinant factor for buying or building a home at an early stage of citizens’ career. Construction period and education of the prospective homeowners are also imperative. The imperative of education has been hinged on the fact that prospective home owners need to access some information regarding government’s policies and initiatives. Meanwhile, when it is difficult to build a house, analysis has indicated it places pressure on the rented sector with the potential for rental housing affordability problems.

The Intervention and Mortgage Banks

Apart from the previous funding-focused intervention, the Federal Ministry of Finance and the Nigerian Sovereign Investment Authority created Family Homes Funds with the commitment of facilitating and supplying 500,000 homes by 2023. Our checks reveal that the Federal Mortgage Bank of Nigeria has a number of provisions for the prospective homeowners. According to the Bank, “National Housing Fund Mortgage Loan is a facility granted at 4% interest to accredited Primary Mortgage Banks (PMBs) for on-lending at 6% to NHF contributors over a maximum tenor of 30 years, which is secured by the mortgaged property.

A contributor can access up to ?15million from the Fund through an accredited and licensed PMB as a mortgage loan to build, buy, improve or renovate own home after 6 (six) months of continuous contributions. This lending conditions make the NHF unequalled as a vehicle for affordable housing delivery in Nigeria.”

Looking at the 4% interest rate of the Bank, our analyst notes that the position of an expert, who recently said own a house is a bad investment might not be true. He opined that individuals should buy a home when the mortgage is less than 8%. According to him, prospective homeowners need to be psychological in their efforts to own a home. However, as the debate rages on whether people should seek mortgage loan or not, evidence has shown that people who have interest in the loan usually considered their religion doctrine or recommendation regarding loan collection. Knowledge was discovered not be a significant factor in the intent of using mortgage financing. Despite this, Nigeria needs more intervention fund to boost homeownership.

Home Ownership Through Government Funding Support: The Alpha Mead Way

Since lack of knowledge about the existence of the interventions and how the mortgage loan works have characterised people’s inability to own houses, Alpha Mead Group, a total real estate solution company, recently organised a webinar that helps people understand how to key into the various government initiatives.

During the seminar, Engineer Femi Akintunde, the Group Chief Executive Officer, noted that when a person has the needed information at his fingertips, he or she would be able to make the right decisions regarding owning a home. “Having a home, goes in a long way of having a quality life. Because it saves one from constant knocking of the door by the landlord for rent payment.” Participants of the seminar were taken through the processes of leveraging existing palliatives provided by the governments through varied agencies. Engineer Akintunde reiterated that his company has decided to target people who earn less than N25 million annually. This is in addition to the people who earn between N25 million and N50 million, being targeted before.

The MicroTok for America!

By
Ndubuisi Ekekwe
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1

Poor TikTok in America as it makes its way to Microsoft. Forget it. I am not sure if MicroTok, my suggested name for the Microsoft future version,  will live up to the glory of the real TikTok. It would be complicated as what makes TikTok hot is the AI which drives those short video recommendations to align perfectly for users. Mess up those AI systems, you have nothing.  There is a possibility that MicroTok could struggle because of one thing: the zero privacy in China makes its mobile solutions more engaging as they can use data which American companies cannot use in improving their models. 

As the United States government intensifies pressure on TikTok to cut off ties with China or get booted out, the parent company, ByteDance has succumbed to the demands of Trump’s administration as it seems to be the only way out.

ByteDance has offered to forgo its stake in TikTok to a US-based firm in order to stop the video app from being blocked in the United States.

US president Donald Trump said on Friday that he would ban the TikTok within days, because the app poses a security risk under its Chinese parent.

“Not the deal that you have been hearing about, that they are going to buy and sell… we are not an M&A (mergers and acquisitions) country,” Trump said.

The implication is that with TitTok, the app knows you better and can meet your needs better. Contrast that with MicroTok which would be restricted to access some key data points, dropping the fun. Those who have used the real TikTok may be disappointed while new users may not notice, though! It is all politics and the President is smart for not banning this app, as many kids would have taken their pains to the polls. Simply, why take away our fun? 

Nonetheless, the President has to begin this app war as that is the only policy he polls well now. Yes, fight China and see the poll numbers rise. TikTok is not the problem the world faces now: Covid-19 has no clarity and we need to focus on it. Of course, that is not to say that we do not have to pay attention to data collected by apps.

Microsoft (LinkedIn’s parent company) announced that following talks between its chief executive, Satya Nadella, and President Donald Trump, the company will continue discussing the acquisition of TikTok’s U.S. operations with its owner, Chinese technology company ByteDance. The U.S. tech giant revealed in a blog post that it is seeking to conclude talks around a deal by Sept. 15. The post said that Microsoft is “committed” to addressing the president’s concerns over the video-sharing platform. Trump had threatened to ban the app late last week, citing national security.

Microsoft Sets September 15 Deadline for the Acquisition of TikTok, As ByteDance Bows to US’ Pressure

Microsoft Sets September 15 Deadline for the Acquisition of TikTok, As ByteDance Bows to US’ Pressure

By
Samuel Nwite
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0

As the United States government intensifies pressure on TikTok to cut off ties with China or get booted out, the parent company, ByteDance has succumbed to the demands of Trump’s administration as it seems to be the only way out.

ByteDance has offered to forgo its stake in TikTok to a US-based firm in order to stop the video app from being blocked in the United States.

US president Donald Trump said on Friday that he would ban the TikTok within days, because the app poses a security risk under its Chinese parent.

“Not the deal that you have been hearing about, that they are going to buy and sell… we are not an M&A (mergers and acquisitions) country,” Trump said.

The deteriorating relationship between China and the United States was about to claim another victim after Huawei, and ByteDance only had to choose between its stake and the survival of TikTok.

ByteDance had previously wanted to keep a minority stake in the US business of TikTok, but Trump’s administration turned the move down, leaving the Chinese company with no other option than to totally relinquish control.

Microsoft has been at the forefront of the takeover deal alongside Sequoia and General Atlantic who reportedly proposed $50 billion. But TikTok executives believe the app is worth more than that.

Changing his mind on Sunday, Trump agreed only to allow Microsoft to negotiate the acquisition, and gave the tech company 45 days to seal the deal.

Trump said the idea of ban was canceled following a discussion between him and Microsoft CEO Satya Nadella, who said the deal will be closed on September 15. People familiar with the matter said the date was set by the Committee on Foreign Investment in the United States (UFIUS), which oversees deals such as this in the interest of national security.

Sources said there was intense pressure on Trump by his advisers and members of the GOP not to ban TikTok, as it would alienate him from many of its young users ahead of the November presidential election. The app has become popular among generation x who the GOP is counting on for Trump’s reelection, and they know it would spell doom if Trump does anything to irk them now.

TikTok has over 100 million users in the US and it is recording more downloads outside the United States, which will offer Microsoft the opportunity to contend with Facebook having owned the professional network platform, LinkedIn.

But the deal may likely stir a complicated relationship between Microsoft and Facebook. Microsoft invested $240 million in Facebook in 2007, and the two companies had collaborated in many innovative fronts.

As part of the deal, Microsoft will ensure that the US security concerns are addressed.

“Microsoft fully appreciates the importance of addressing the president’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” Microsoft said in a statement.

However, there are still concerns about how TikTok could be separated from ByteDance’s technology infrastructure and access to satisfy US’ curiosity about the safety of personal data.

Reuters reported that one idea under consideration is to grant ByteDance and Microsoft a transition period to develop technology for TikTok that will be completely separate from ByteDance.

The tech company said the new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections. The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries.

And to quell privacy concerns, Microsoft said it will delete and transfer data accordingly to protect privacy.

“Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred,” Microsoft said in a statement.

Microsoft did not say how much the deal is worth, but said it may invite other American companies to acquire minority stakes. The deal is expected to cover TikTok in Canada, Australia and New Zealand.

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