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Home Blog Page 6770

A Scam-Free Nigeria Must Begin with Banking Sector

By
Chinedu Junior Ihekwoaba
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0

By Chinedu J. Ihekwoaba

The high rate of scams in our beloved country, Nigeria, is partly due to the banking sector. Yes, some bankers are the catalysts for most of the things that have got to do with scams in our country.

Some bankers know all these fraudsters and they act as agents for them. Don’t be surprised that these fraudsters don’t even come to banks to finalize their evil ordeals; the bankers do these transactions for them and get a certain percentage based on agreement. They also provide them with vital information on when to come to the bank for security reasons.

I have had terrible experiences in reputable banks in Nigeria. Being a remote worker, who works as a writer for companies in America and Canada, I get paid in foreign currency through PayPal. Since Nigeria has been disconnected from using the PayPal service, I use the PayPal account of a good friend in America. The only way my friend could transfer the money to me is through the Western Union Money Transfer or Moneygram.

However, I always have problems picking up my money unless I agree to pay the manager and a particular set of staff in the bank. I had an instance where I was picking up 2000 pounds, I was told to agree a sixty to forty percent deal, meaning I will earn sixty percent of the money and the bank will get the remaining forty percent.

I never agreed and the transaction didn’t go through. The manager refused to sign it.

The manager of that bank made references to other scammers who always cooperate with their terms and even get paid without coming into the bank.

She said, ”we help them pick up their money even without having to come here. And they settle us. They always agree to our terms. We also help them by giving some vital information on when to come to the bank so they don’t get busted by the police.”

This says a lot about the bank officials. There’s no smoke without fire. In developed countries, you can’t earn a huge sum of money without giving a detailed account of it. But in Nigeria, bankers look for these so-called ”yahoo-yahoo boys” to bring their evil earned money so they could meet their monthly and yearly targets, given to them, in order to gain promotion and get a salary increment.

Even bankers are the reason why politicians can steal and loot the country’s money. They help their evil acts by helping the politicians hide the huge sum of money and cover up for them. Since Buhari administration has been against corruption, he should look into the banks. Some bankers are the agents of corruption in Nigeria. Most of them are unfaithful and selfish.

They are the reason why Nigeria youths are scammers. I bet if bankers are being thoroughly scrutinized for all transactions in the banks, the rate of corruption would be reduced drastically. The only way the positive change can be made effective by the Buhari administration is to put out capital punishment on the banks. When banks have no room for fraud, then politicians won’t steal the country’s money and ”yahoo-yahoo” boys won’t be really effective. It is time to go to war against the banking sector. Jail every bank official found in any shady deals and seize all his/her acquired properties. We need a scam free Nigeria.

God bless Nigeria.

The Accumulation of Capability Construct – How Business Empires Are Built (Video)

By
Ndubuisi Ekekwe
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2

Firms win by accumulating capabilities. From Google to Dangote Group, when companies accumulate capabilities, they operate in domains that generate higher value (usually upstream) compared with where typical firms operate (usually downstream). Dangote Group can deploy massive assets and technical know-how in cement production, making it harder for new entrants and rivals.

To rise to the level to extract Conglomerate Tax on nations and citizens, capabilities matter. Amazon taxes the digital economy through Amazon Web Services. Dangote Group taxes Nigeria because it solves problems which few can imagine. For solving those hard problems, the firm demands special treatments in different ways from the government. What it does is typical: Amazon, GE, and global conglomerate live on that.

It is not Dangote Group’s fault; it is simply Nigeria’s fault that it has only one true (industrialized) conglomerate in the 21st century.

We Should All Become A “Victim Of Exposure”

By
David Alade
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1

I have had conversations with several people looking for a job, looking to make a career change, looking to make the next pivot in their life and many more of the similar divide, one thing is common to the majority – they do not know what to do.

Victim of Exposure (VoE)

What does it mean to become a victim of exposure? I coined this word a couple of months ago while reminiscing on some significant events of my life, juxtaposing this with the what I’ve seen in other people’s life. I realized that if only the majority I referred to earlier had before the present expose themselves to information, moving on to the next stage of their life wouldn’t be a problem.

To become a victim of exposure then means exposing yourself to as much information as possible on a continuum, whether you consider such information useful to you now or not.

Important to note from that definition is whether you consider the information useful for you or not at a point in time is of irrelevance, becoming a VoE requires that you sap in all forms of information available to you per time.

How will you benefit from becoming a Victim of Exposure?

Those who have become VoE are those who have an unbounded mind. Having unbounded mind mean when it’s time for you to make a decision, you have a lot in your mind to consider before concluding. To illustrate, take a recent graduate who studied English, if such is not a VoE, such will be limited regarding career options. If as English graduate the only career choice that comes to mind upon graduation is becoming an English teacher/lecturer, then you need to quickly thread the part to becoming a VoE.

In simple terms then, what being a VoE does for you is to expose your mind by the mirage of information you have fed it and help you to make informed decisions when the need comes.

How can you become a Victim of Exposure?

This is the easiest question with a simple answer. As simple as the answer is though, it may be tough to implement.

The simple answer is that you should continually feed your mind with quality information. Be wary of garbages.

Go now and become a victim of exposure.

LinkedIn Summary

Accumulation of capability construct

That is a term I learnt from Ndubuisi Ekekwe.

Basically, it’s about the compounding effect your effort to become a better version of you can yield if you weary not.

While it is easy to see how the accumulation of capabilities plays out for a corporate body, it may not be so obvious for individuals.

A corporate body can recruit the best of the best, can invest in the best asset, can pull the most innovative marketing stunt and can iterate through innovation at scale.

For this construct to work for an individual, the best way I’ve come across is the accumulation of knowledge. Knowledge accumulates and compounds, even when it seems not to. And the effect of compounded knowledge is what we see play out in those with compelling views on different topics.

As you journey on, I urge you to consider knowledge as an ad-on worth possessing.

I wrote once about “Becoming A Victim of Exposure” you should read that as well.

Polaris Bank Nigeria – What Happened To My Money?

By
Chinedu Junior Ihekwoaba
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8

Banks are known to be the safest place to keep our hard earned money. But what happens when the easiest way to lose your money is by keeping it in a bank. This calls the Nigerian banking system into question.

The Nigerian banking sector is a sector that needs to be scrutinized by the government. Perhaps, we need a rise in the standard of the banking sector in the country. Many times, people have complained about poor customer service experienced in some of the Nigerian banks. Many had lost their hard-earned money with no reasonable explanation to back it up from the bank.

I had no idea how it feels like to lose your money overnight until I lost twenty thousand and four hundred naira in my Polaris bank account. Perhaps, I thought it was a mistake. I assumed It would be rectified soon. I waited for forty eight hours but nothing happened.

After waiting for one week, I visited the bank to lodge my complaint. The customer care representative asked me to write a letter which would be forwarded to the headquarters in Lagos. Which I did. He assured me of getting to the root of the matter in seven days.

Two weeks after, I didn’t get a reply. I visited again and lodged the same complaint. Again, I was asked to write another letter. I complied and waited for another one week. Nothing happened. There was no feedback as well. I visited for the third time. This time around, it was at the branch where I opened the account.

The cashier looked into my account and asked me to write another letter. I became uninterested and decided to call it a day. I had to face reality and admitted that the money was actually gone.

Till date, I never heard from them. It makes me wonder if they actually investigated the matter. I regretted banking with Polaris Bank.

If banks are not safe to keep our money, then we are in trouble in this country.

We can’t continue to lose our hard-earned money overnight. At least, give us an explanation. Show us that you care. I wasn’t the only one who complained about Polaris bank. Some of my friends also shared their stories.

Muyiwa Adeogun said, “I have stopped using that bank. They are not competent anymore. I noticed that ever since they changed from Skye Bank to Polaris Bank, it’s always been a drama with them. My money was deducted and I never got a refund or explanation. So I changed to another bank.”

Kayode Oladokun also said almost the same thing, “Polaris Bank is the last bank I would recommend for my enemy. I don’t see that bank surviving in the next five years. I have withdrawn all my money. Ever since they changed name, they lost their value.”

They always say customer feedback is essential to the company’s growth. I hope Polaris Bank will take these feedbacks seriously. I am not putting down Polaris Bank. I stand to gain nothing from doing so. But being a customer who has also experienced the worst customer service, I would love to share my dissatisfaction with their service so they can improve to serve us better. Till date, I don’t have an ATM card to my account and I can’t even use the Polaris Mobile app. Polaris bank needs to do more for the customers. Better still, you can bring back our Skye Bank.

Long live Polaris Bank!

Long live Nigeria!

Driven – To Achieve Anything In Life, You Have To Be Driven

By
David Alade
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0

“If a man is called to be a street sweeper, he should sweep streets even as Michelangelo painted, or Beethoven composed music or Shakespeare wrote poetry. He should sweep streets so well that all the hosts of heaven and earth will pause to say, here lived a great street sweeper who did his job well.”

– Martin Luther King, Jr.

We are hunted on a continuum by our desire for greatness, success, and influence. The question remains, how can we achieve our quest? How can we make sure we walk the right path? How can we ensure our hands don’t get burnt on this race? I have a simple answer to that, wrapped up in MLK’s quote above – Be Driven.

MLK said even if your responsibility is that of a sweeper, be so driven about it that heaven and earth will attest that you did your job well. We tend to miss a lot when we are in pursuit of a goal, we usually think no, this is not part of what I bargained for so I can’t do it with all my energy. We fail to realize that in the end, we are a sum of all our actions and inactions. This attitude of not giving our best to the task at hand is responsible for the conditions where a lot of people find themselves right now.

In the popular story of Joseph, we realize that a lot of activities that led him to become a Prime Minister in Egypt did not seem to portray so from the onset. How will being a Chief of Slaves be part of the training that is preparing me for my dream? How will being a Master of Prisoners ever lead me to dine and wine with Kings? It never adds up. Funnily enough, that is how it always seems for driven and goal-oriented individuals, it is always the end that justifies the process.

Think about your current situation, how can that failure be part of the process? How can working in a company like this be a precondition for the attainment of my goals? How can I be jobless at this age and still attain financial freedom at 40? When you are called to be a street sweeper, be driven so much about it and do it so well that heaven and earth will attest that you did the job well. This includes giving your best to that current boss that seems to not appreciate your effort.

To achieve anything in life, being driven is a prerequisite and giving your best to whatever you find your hand to do per time is the evidence we have that you are driven indeed.

After you have done your best, whatever comes out of that is your success, for a simple reason you’ve done your best and you couldn’t have done more. Regrets only come when in the end you realized that if only you had done more, you would have attained your target.

In your current situation, give your best.

In your current employment, give your best.

In your current endeavour, be known for excellence.

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