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Social Distancing – The Reality and Era after Covid 19

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While nobody seems to like the ordeal of social distancing, the introverts may be a better advantage of scaling this period, with smiles on their faces because the larger the space, the bolder the smile and the increased sense of control.

Coronavirus has caused more damage than anybody could imagine, and the effect has reached almost every nook and cranny of the world.  Sparing no man the space to enjoy the once abundant freedom hence the quote by Chidiebere Moses Ogbodo, “FREEDOM IS PRICELESS”.

Well, let’s look into social distancing from a different perspective and which is: The robotics and the workforce. Social Distancing has been a part of some societies such as in the major cities of India, and some Muslim nations, where everybody is expected to mind their business, else stand the chance to be accused of intruding another person’s space, especially that of the ladies.

Now, it is no longer a thing for a particular society, but it will be practiced in almost all the nations of the world, as the new norm. Also In the workplace, schools, religious places, and even in the homes, but the major concern includes the possibility of it tampering with the workforce, workplace and work culture and more;

For instance:

  • Robots in the workplaces, replacing human

It will not be a surprising thing, to see that the idea of robots serving in the restaurants, loading and unloading in the warehouses, delivering packages from food and grocery stores, etc becoming the new norm. This will cause a huge breakdown in the number of jobs hence increasing the unemployment rate to a near uncontrollable rate. The solution may be yet unknown at the moment, because the industry will be left with a few creatives to thrive on. So, men need to think ahead while there is still time.

  • Threat to the Healthcare Industry

While we appreciate our healthcare professionals for standing tall during this period, it will be a good thing to consider the threat to freedom of existence this social distancing dilemma will cause.

Isaac Thani shared on Tekedia, “Within the next ten years, a country will make the implantation of biochips (microchips inside humans) on citizens mandatory to help during pandemic and security paralyses. The GPS-embedded biochip will collect blood samples, analyse them in-vivo, and send results to a central server. On the server, the government will know where people with, say, a coronavirus, are located, and will pick them up for further assistance. Most privacy-related activism will fade and health surveillance will scale globally”.

The question is, who doesn’t like his freedom, who wants to be monitored like robots and more questions to be answered. With this in mind, the future may be uninteresting and daring or I should say threatening!

Freedom is really priceless. Now you will agree with me.

  • Globalization is doomed

Freedom of association is at risk. Nations may from henceforth prefer to live within closed walls. Trump may not be totally wrong when he proposed and nearly finished building the American Wall. If a country is scared of importing viruses into her country, then who is talking about globalization. Who will be talking about one world, one people! divided we fall, and united we stand. There is also the possibility of increased racial misunderstandings, born of social distancing. Well I believe with hope we can still win this war.

  • Boost in Fintech, Cash Frowns

Bitcoin may not be a bad idea at all. Cashless transactions propelled by the Fintech professionals may not be a bad idea. We see the rate at which cash transactions are almost dying out, because nobody knows from whose pocket and what health condition is with the  previous host of the dollar note. As much as it affects the banks and ATM operators/banks, it is also a good advantage to the other party, the Fintech

The adage said: The soup that is poison to one man, is a sweet medicine to another. Let’s welcome the new era. We have been surviving and thriving with changes, which is constant, so we will definitely outlive this new era. The innovative, and dynamic minds will smile more this time.

  • The Wailing Fate of Transportation Industry

The person who used the Uber ride before you may be Covid 19 positive, so what is the best way to avoid getting infected; maybe by boycotting traveling by both public transport and even the semi-private providers such as Uber and Ola etc, and fighting hard to buy yourself a private ride.

The transportation industry is really weeping at the moment, and we pray the pandemic goes out of air inadvertently, in its entirety..

  • Economy Cracks in the West and Mends in the East

In every war, there are a few sets of people who benefit more than they lose; record is breaking with the recent income by china in the supplies of healthcare resources across nations, while their GDP is reported to be nearing half of the Americans.

What is cracking in the west may be seen mending in the east. Economy will not die, but it will be shaken, and that should be considered an opportunity to gain new grounds to germinate better seeds of amazing growth. – Chidiebere Moses Ogbodo

The Future after Covid 19

The world should be expecting high growth in industries such as E-learning, Tele-Health, E-commerce, Remote Offices/Freelancing/Work from Home, but a bigger challenge goes to the entertainment industry, that mainly depend on the crowd gatherings, clubs, beach times, birthday parties and more!!. Something needs to be done and soon enough!

The world will heal, and Social Distancing should not be allowed to be the new norm. We need each other more, and close enough with warm hugs and kisses than ordinary high fives.

Week 8 Session

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Notes: 1.No Webinar today  but we have a video on Rocket Internet’s exit in Jumia as we continue this week’s discussion on entrepreneurship and innovation. This is a practical case. 2.We have a video How Do You Preserve Your Business After Covid-19 Black Swan? drawing from the iconic Sequoia Capital brief. In this video, Dr. Ndubuisi […]

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The Challenge for Banks and Fintechs After Buhari’s Address to Nigerians

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President Buhari has spoken on Covid-19, and he dropped a market-shaking sample: three month repayment moratorium on all government loans. Pressure will now mount on private lenders like banks and fintechs.

Furthermore, I have directed that a three month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect.

I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank.

For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers.

As I have noted in an exclusive video to Tekedia Mini-MBA participants, I expect many companies and even private debtors to invoke force majeure – “unforeseeable circumstances that prevent someone from fulfilling a contract” – to avoid lenders going after collateral where applicable. My recommendation to the Industrial Court is to develop a template immediately on how these matters could be resolved as there would be lawsuits. As I write, and as a former banker, I know that interests are running on most loans even though only limited commercial activities are happening in Nigeria. 

So, if you think someone will pay those interests when his or her workers are at home, you will be surprised when things normalize. 

Coronavirus will reshape ordinances in markets once we get over it. President Buhari’s speech shows the government is temporarily freezing interests to its debtors, making it a solid reference point for lawyers to argue in industrial courts for their clients. Most lawyers would argue that once the governors declared some businesses non-essential, forcing them to “close”, and being materially affected, beyond their controls, force majeure could apply and all interests on the loans for that period should be vacated.

For Tekedia Mini-MBA participants, a video would go live tomorrow on the Week 8 board on how to prepare to give your business a chance.

Comments on LinkedIn On This

Comment #1: Interesting times with strategic measures to be designed and implemented. Thanks for the Insight. Truly like you rightly envisaged Prof. “Coronavirus will reshape ordinances in markets once we get over it”. Looking forward to how the Nigerian Finance Coys will adhere and adapt to the temporary directive by the President.

My Response: “Looking forward to how the Nigerian Finance Coys will adhere and adapt to the temporary directive by the President.” Boardrooms will be busy tomorrow because matching Nigeria’s govt on this moratorium could be challenging, and not adhering to it is simply calling for lawsuits from customers.

Comment #2: This is an interesting take on the President’s speech. Hopefully, the court will use the lawsuits that will result from this situation to set a precedent for matters such as this in Nigeria.

As for the ethics of the bank’s partial application of the freeze on interest accumulated on investments during holidays, I tend to think that the fault is partly that of low awareness on the part of the general public, partly a shortcoming on the part of regulatory/consumer protection agencies, and partly that of a general lack of will on the part of Nigerian lawyers to take on institutions. It would be hard to imagine that none of regulatory bodies or major lawyers know about this.

Lastly, I hope this Covid19 induced disruption, just like it is doing in other areas of our lives, will compel us to reexamine our banking and lending rules and reduce the opaque and shady practices and inequities.

Comment #3: Good insights Prof. When US slashed interest rates, I thought Nigeria will do the same or attempt to go near. But I think MPC maintained status quo. I don’t think there is also any measure on easing the burden of repayment of commercial loans that matches the Federal Government’s gesture.  A lot of businesses may crash while rebooting. CBN and Bankers’ Committee need to troubleshoot now that these at-risk businesses are shutting down, hibernating or operating on safe-mode.

The U.S. Federal Reserve does two key things – works to keep the U.S. dollars stable (by reducing inflation) and maximize employment through interest rates. It has an edge – the currency is convertible with solid export market. But for CBN, we know maximizing employment is not one of the things it does practically. Without that, tracking ease on lending to say SMEs would never be a priority (MPC becomes muted). In all cases, what CBN does in Nigeria is determined by the price of crude oil as it has no non-oil-affecting tools to drive impactful visioning system in Nigeria.

Presidential Address: President Buhari Places FCT, Lagos and Ogun States on Lockdown

Presidential Address: President Buhari Places FCT, Lagos and Ogun States on Lockdown

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The much awaited address on coronavirus from Nigerian president, Muhammadu Buhari, has finally happened. It tells of strict measures that the government has adopted to quell the spread of the pandemic. Those measures include total shutdown of the FCT, Lagos and Ogun States. Full speech below…

Fellow Nigerians,

From the first signs that Coronavirus, or COVID-19 was turning into an epidemic and was officially declared a world-wide emergency, the Federal Government started planning preventive, containment and curative measures in the event the disease hits Nigeria.

The whole instruments of government are now mobilized to confront what has now become both a health emergency and an economic crisis.

Nigeria, unfortunately, confirmed its first case on 27th February 2020. Since then, we have seen the number of confirmed cases rise slowly.

By the morning of March 29th, 2020, the total confirmed cases within Nigeria had risen to ninety-seven.

Regrettably, we also had our first fatality, a former employee of PPMC, who died on 23rd March 2020. Our thoughts and prayers are with his family in this very difficult time. We also pray for quick recovery for those infected and undergoing treatment.

As of today, COVID-19 has no cure. Scientists around the world are working very hard to develop a vaccine.

We are in touch with these institutions as they work towards a solution that will be certified by international and local medical authorities within the shortest possible time.

For now, the best and most efficient way to avoid getting infected is through regular hygienic and sanitary practices as well as social distancing.

As individuals, we remain the greatest weapon to fight this pandemic. By washing our hands regularly with clean water and soap, disinfecting frequently used surfaces and areas, coughing into a tissue or elbow and strictly adhering to infection prevention control measures in health facilities, we can contain this virus.

Since the outbreak was reported in China, our Government has been monitoring the situation closely and studying the various responses adopted by other countries.

Indeed, the Director General of the Nigeria Centre for Disease Control (NCDC) was one of ten global health leaders invited by the World Health Organisation to visit China and understudy their response approach. I am personally very proud of Dr Ihekweazu for doing this on behalf of all Nigerians.

Since his return, the NCDC has been implementing numerous strategies and programs in Nigeria to ensure that the adverse impact of this virus on our country is minimized. We ask all Nigerians to support the work the Federal Ministry of Health and NCDC are doing, led by the Presidential Task Force.

Although we have adopted strategies used globally, our implementation programs have been tailored to reflect our local realities.

In Nigeria, we are taking a two step approach.

First, to protect the lives of our fellow Nigerians and residents living here and second, to preserve the livelihoods of workers and business owners to ensure their families get through this very difficult time in dignity and with hope and peace of mind.

To date, we have introduced healthcare measures, border security, fiscal and monetary policies in our response. We shall continue to do so as the situation unfolds.

Some of these measures will surely cause major inconveniences to many citizens. But these are sacrifices we should all be willing and ready to make for the greater good of our country.

In Nigeria’s fight against COVID-19, there is no such thing as an overreaction or an under reaction. It is all about the right reaction by the right agencies and trained experts.

Accordingly, as a Government, we will continue to rely on guidance of our medical professionals and experts at the Ministry of Health, NCDC and other relevant agencies through this difficult time.

I therefore urge all citizens to adhere to their guidelines as they are released from time to time.

As we are all aware, Lagos and Abuja have the majority of confirmed cases in Nigeria. Our focus therefore remains to urgently and drastically contain these cases, and to support other states and regions in the best way we can.

This is why we provided an initial intervention of fifteen billion Naira (N15b) to support the national response as we fight to contain and control the spread.

We also created a Presidential Task Force (PTF) to develop a workable National Response Strategy that is being reviewed on a daily basis as the requirements change. This strategy takes international best practices but adopts them to suit our unique local circumstances.

Our goal is to ensure all States have the right support and manpower to respond immediately.

So far, in Lagos and Abuja, we have recruited hundreds of adhoc staff to man our call centers and support our tracing and testing efforts.

I also requested, through the Nigeria Governors Forum, for all State Governments to nominate Doctors and Nurses who will be trained by the NCDC and Lagos State Government on tactical and operational response to the virus in case it spreads to other states.

This training will also include medical representatives from our armed forces, paramilitary and security and intelligence agencies.

As a nation, our response must be guided, systematic and professional. There is a need for consistency across the nation. All inconsistencies in policy guidelines between Federal and State agencies will be eliminated.

As I mentioned earlier, as at this morning we had ninety-seven confirmed cases. Majority of these are in Lagos and Abuja. All the confirmed cases are getting the necessary medical care.

Our agencies are currently working hard to identify cases and people these patients have been in contact with.

The few confirmed cases outside Lagos and Abuja are linked to persons who have travelled from these centres.

We are therefore working to ensure such inter state and intercity movements are restricted to prevent further spread.

Based on the advice of the Federal Ministry of Health and the NCDC, I am directing the cessation of all movements in Lagos and the FCT for an initial period of 14 days with effect from 11pm on Monday, 30th March 2020. This restriction will also apply to Ogun State due to its close proximity to Lagos and the high traffic between the two States.

All citizens in these areas are to stay in their homes. Travel to or from other states should be postponed. All businesses and offices within these locations should be fully closed during this period.

The Governors of Lagos and Ogun States as well as the Minister of the FCT have been notified. Furthermore, heads of security and intelligence agencies have also been briefed.

We will use this containment period to identify, trace and isolate all individuals that have come into contact with confirmed cases. We will ensure the treatment of confirmed cases while restricting further spread to other States.

This order does not apply to hospitals and all related medical establishments as well as organizations in health care related manufacturing and distribution.

Furthermore, commercial establishments such as;
a. food processing, distribution and retail companies;
b. petroleum distribution and retail entities,
c. power generation, transmission and distribution companies; and
d. private security companies are also exempted.

Although these establishments are exempted, access will be restricted and monitored.

Workers in telecommunication companies, broadcasters, print and electronic media staff who can prove they are unable to work from home are also exempted.

All seaports in Lagos shall remain operational in accordance with the guidelines I issued earlier. Vehicles and drivers conveying essential cargoes from these Ports to other parts of the country will be screened thoroughly before departure by the Ports Health Authority.

Furthermore, all vehicles conveying food and other essential humanitarian items into these locations from other parts of the country will also be screened thoroughly before they are allowed to enter these restricted areas.

Accordingly, the Hon. Minister of Health is hereby directed to redeploy all Port Health Authority employees previously stationed in the Lagos and Abuja Airports to key roads that serve as entry and exit points to these restricted zones.

Movements of all passenger aircraft, both commercial and private jets, are hereby suspended. Special permits will be issued on a needs basis.

We are fully aware that such measures will cause much hardship and inconvenience to many citizens. But this is a matter of life and death, if we look at the dreadful daily toll of deaths in Italy, France and Spain.

However, we must all see this as our national and patriotic duty to control and contain the spread of this virus. I will therefore ask all of us affected by this order to put aside our personal comfort to safeguard ourselves and fellow human beings. This common enemy can only be controlled if we all come together and obey scientific and medical advice.

As we remain ready to enforce these measures, we should see this as our individual contribution in the war against COVID-19. Many other countries have taken far stricter measures in a bid to control the spread of the virus with positive results.

For residents of satellite and commuter towns and communities around Lagos and Abuja whose livelihoods will surely be affected by some of these restrictive measures, we shall deploy relief materials to ease their pains in the coming weeks.

Furthermore, although schools are closed, I have instructed the Ministry of Humanitarian Affairs, Disaster Management and Social Development to work with State Governments in developing a strategy on how to sustain the school feeding program during this period without compromising our social distancing policies. The Minister will be contacting the affected States and agree on detailed next steps.

Furthermore, I have directed that a three month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect.

I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank.

For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers.

For the most vulnerable in our society, I have directed that the conditional cash transfers for the next two months be paid immediately. Our Internally displaced persons will also receive two months of food rations in the coming weeks.

We also call on all Nigerians to take personal responsibility to support those who are vulnerable within their communities, helping them with whatever they may need.

As we all pray for the best possible outcome, we shall continue planning for all eventualities.

This is why I directed that all Federal Government Stadia, Pilgrims camps and other facilities be converted to isolation centers and makeshift hospitals.

My fellow Nigerians, as a Government, we will avail all necessary resources to support the response and recovery. We remain committed to do whatever it takes to confront COVID-19 in our country.

We are very grateful to see the emerging support of the private sector and individuals to the response as well as our development partners.

At this point, I will ask that all contributions and donations be coordinated and centralized to ensure efficient and impactful spending. The Presidential Task Force remains the central coordinating body on the COVID-19 response.

I want to assure you all that Government Ministries, Departments and Agencies with a role to play in the outbreak response are working hard to bring this virus under control.

Every nation in the world is challenged at this time. But we have seen countries where citizens have come together to reduce the spread of the virus.

I will therefore implore you again to strictly comply with the guidelines issued and also do your bit to support Government and the most vulnerable in your communities.

I will take this opportunity to thank all our public health workforce, health care workers, port health authorities and other essential staff on the frontlines of the response for their dedication and commitment. You are true heroes.

I thank you all for listening. May God continue to bless and protect us all.

President Muhammadu Buhari
29th March 2020.

19.4 – Staff Training

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Countermeasure: Employee & Staff Training Employee and staff training on human security management is very important for overall protection. Employees who work remotely are becoming increasingly frequent, posing additional threats. The chance of remote employees’ systems being infected by a keylogger or other malicious code through a phishing and other attacks, and then spreading the […]

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