Year: 2020

DLM explains Effects of WBAF’s Post COVID-19 Roadmap on Entrepreneurship in Africa

World Business Angels Investment Forum (WBAF), recently revealed key-findings of a global survey that included business owners from more than 81 countries and across multiple industries, stating the fact that the after effect of COVID-19 pandemic has put world is on the verge of a great disruption.

WBAF is an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), in a latest release by Chairman, Altuntas Baybar led WBAF and explained by WBAF International Partner in Nigeria, David Lanre Messan (DLM). The release state that for the first time since the Great Depression of 1929, every country, every society and every economy in the world is witnessing the impact on health, employment, finance, trade and business; noting that reports from the World Bank, International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), World Economic Forum (WEF), and NASDAQ forecasts wide-ranging effects of this great disruption which has adversely affected the current state of the global entrepreneurship ecosystem.

Revealing this recently, David Lanre Messan (DLM) disclosed that WBAF has submitted comprehensive policy recommendations to the G20 leadership in order to alert policymakers about the urgent needs of start-ups. He noted that the organisation elicited opinions on issues in a variety of domains, ranging from financing, the workforce, business model realignment, and types of support that are needed during this turbulent economic period.

David Lanre Messan, an alumnus of Harvard Business School Online, Nexford University and Pan Atlantic University is an award winning idea strategist, entrepreneur and investor with key interest in entrepreneurship and technology (Tech-Startups, Fintech and Sharing economy). He is highly skilled in idea development, brand strategy, disruptive strategy, fund raising and startup development and has worked as a global advisory board member (West Africa) for Innovate Africa and Scalabl international advisor (Africa), his works has also been recognized by the World Economic Forum, Global Shapers Community, World Bank, Taking IT Global, African Business Leadership Forum, and European Research Council.

According to Messan, WBAF survey from the latest IMF Global Financial Stability Report indicates that a projection of high market volatility, a collapse in risk asset prices, a reversal of portfolios, and a deterioration of market liquidity is imminent. The survey also quoted that the World Bank prediction that the global GDP will shrink by 5.2% in 2020, the worst scenario since World War II, that will nearly triple the contraction experienced during the 2009 recession and also, includes a recent OECD report that predicts massive global unemployment rates which also expects that, starting in fourth quarter of 2020, recovery will be slow, and in many regions, returning to pre-COVID-19 levels will take 2 years.

He noted that the survey also quoted other institutions like the WEF identified a number of key risks, such as, 500 million people falling into poverty, a 3% drop in world output, an anticipated fall in global trade of up to 32%, and an estimated 40% drop in Foreign direct investment (FDI). “The report forecasts that bankruptcies will skyrocket, that many industries will fail, and that structural unemployment levels will be elevated for years to come,” explained Lanre Messan.

Continuing, he said that NASDAQ survey indicated that start-up investors expect there will be a significant impact on investing activities and that this pandemic-induced environment will last between 1 and 2 years.

According to him, WBAF survey and key findings done in the month of May, 2020 projects that these global financial conditions will clearly have a greater effect on the entrepreneurship ecosystem than they would in non-pandemic times.

“The comprehensive survey and key findings show that 52.22% expected their funds would last 3-6 months without any additional funding while 29.6% of respondents reported that their current funds would last more than 3 months. Secondly, 41.1% of respondents reported a 50% drop in market demand for their services or products and 63.1% of startups surveyed; plan to change their business model in the post-pandemic business cycle while 36.1% of respondents have definite plans to pivot their business during this business cycle.

Thirdly, 46.5% of respondents believe that the impacts of the pandemic will last6 months to a year while 11.3% believe it will persist beyond 2 years. Fourthly, 39.90% of respondents reported a drop in the valuation of their business, but 21.67% reported an increase. Lastly, funding, demand, and workforce represent 37.93% of the challenges start-ups face, with funding ranking highest,” Lanre Messan added.

Meanwhile, there is an additional insight from WBAF survey showing comparative analysis of the global impact from professionals and corporate bodies that include Prof. Inderjit Singh, former Singaporean Parliament Member and Chair, WBAF’s Global Startup Committee; Baybars Altuntas, a former Senior Advisor to the London Stock Exchange Group, now chairs the World Business Angels Investment Forum and Hauwa Yabani, WBAF High Commissioner for Nigeria.

This insight survey however, highlighted impacts across all industries with Consulting and professional services being the most heavily affected at 29.02% and electronics, the least at 1.96%. The survey also indicates that there was a high level of agreement at 74.88% among respondents, about the need for and the benefits of liaising between business owners and policymakers, while pointing an equal downturn in short- and long-term investments at 39.41% and widespread, complex contingency plans. But these accordingly, included reducing costs, laying off staff at 27.9% and seeking additional capital to sustain their business placed at 41.38%.

Prof. Singh says, ‘At this point, we would like to provide a summary of insights from other global surveys conducted by international organizations over the past few months that offer complementary views. Some focused only on one segment within the entrepreneurial ecosystem, while others attempted to get a more comprehensive picture. Overall, you will see that the WBAF findings are consistent with these other major surveys.”

Prof. Singh’s observations follow with Ernst and Young Global, a consulting firm. Two of the key findings were related to the status of existing projects, specifically that 65% of existing foreign investments were proceeding as planned, 25% were delayed, and 10% were cancelled.
Also, Deloitte conducted and published the results of a survey on global human capital trends related to the future of work. The report addressed the purpose, potential, perspective and possibilities for the workforce during the COVID-19 economic environment.

PricewaterhouseCoopers has recently completed a CFO Pulse Survey, which gathered opinions from 150 international finance executives. More than 82% of multi-territory respondents reported that COVID-19 had a significant impact on their business, while 32% expected to engage in layoffs, and 52% of respondents expected productivity losses.

“As the world is faced with these widespread economic challenges, it is essential that leading organizations and their representatives take charge by raising awareness and proposing solutions. There is a general consensus among experts about several strategic areas that are recommended for recovery: focus on rebuilding operations and recuperating revenue, rethink the organizational infrastructure, and accelerate the adoption of technology. Only by designing novel business models can we rebuild the global economy and reshape the business ecosystem for future generations,” Prof. Singh said.

Baybars Altuntas explains a hyper connected digital world comment; “WBAF has taken an active role in this global pandemic. As an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), the World Business Angels Investment Forum has submitted a comprehensive policy recommendations report to the G20 leadership in order to alert policymakers about the urgent needs of start-ups.

“We are convinced that we will be able to present a better road map of post-pandemic times for startups, scaleups, entrepreneurs, SMEs and investors if a greater emphasis is placed on knowledge, which is central to the transition debate to a ‘new normal’. We believe that simply keeping physical distance, washing hands, and staying at home is not enough to solve the challenging problems that entrepreneurs and the young generation will face after COVID-19 itself ceases to be a problem. We need better policies that are developed in the light of knowledge that can only come from the entrepreneurship and investment ecosystem,” says Altuntas.

He however, stated, “Entrepreneurs who are quicker to read the changing customer behaviour will take a more active and profitable role in the post-pandemic business environment,” Altuntas said.

Among other things he listed are business transformation, Digital transformation and traditional money, making its way to becoming smart money in the post covid-19 era.

In his recommendations, he enumerated expectations from government as a response to Covid-19 which include developing the digital infrastructure of their communities such as provision of computers to ease online education, acceleration of internet speed, fintech, healthcare, and creating smart cities as a response to COVID-19.These according to him will all lead to a better digital transformation of communities, better healthcare systems, more financial inclusion and more equal opportunities in education. “

“We believe that freedom of speech, human rights and gender equality are three important components of creating a healthy environment for citizens, which in turn opens the way for creative thinking. We believe the world of post-pandemic times will need more support from citizens with creative ideas if we are to turn the COVID-19 pandemic into long-term social good,” Altuntas said.

“As Executive Chairman of the World Business Angels Investment Forum, I encourage G20 leaders, policymakers, academics, global thinkers, entrepreneurs and investors to consider developing a new way of thinking.”

Hauwa Yabani is the WBAF High Commissioner for Nigeria. In her assessment of the challenges and impacts caused by the Covid-19 pandemic in Nigeria, she, unequivocally stressed need to utilise the various emerging transaction channels available.

“With an economy that is highly dependent on global crude oil demand for foreign exchange and government revenue, the crash in crude oil prices has devastated public finances, further exacerbating the situation. The resort to state-wide lockdowns to control the spread of the virus has led to a major slowdown of economic activities. The fragility of the health system has been exposed and employers are actively pursuing cost-cutting measures, including reducing remuneration and relieving staff of their jobs. While the public isolation centres for COVID-19 positive patients are yet to be overwhelmed with a relatively low level of fatalities recorded thus far relative to the population, the same cannot be said on the situation of the economy.

“While times remain tough for start-ups, the crises have created opportunities for evaluation and optimisation for the post-COVID-19 reality. Start-ups that are resilient, repositioning technology as a major enabler, and participating in various capacity building programs are increasing their chances not only of survival but also of attaining sustainable growth. Start-ups in some sectors such as the health sector, logistics and other essential services have seen spikes in the demand for their products or services, but have struggled to meet this demand due to the corresponding funding requirements which are not readily accessible. It is not surprising that some start-ups have had to fold up while others are grappling with appreciating the importance of digital literacy, establishing online presence to retain or gain new customers, and utilising the various emerging transaction channels.

“The general expectation in Nigeria is that the COVID-19 pandemic will eventually wither, as the Ebola, Zika, and Severe Acute Respiratory Syndrome (SARS) viruses have in recent years. However, the socio-economic impact on the economy, especially on the start-up ecosystem, will remain for long after especially for those that fail to adapt to the new normal. It is a time for optimistic pragmatism,” concludes Yabani.

For Edo, Ize-Iyamu Is a Two-in-One Product by Olatunde Bello-Ishola

The offer is mouth-watering and irresistible. And it is in plain sight: no ambiguity or sophistry. Aside from his accretion of qualities, the practical and well-thought-out promises to salvage the state from the doldrums with the ‘SIMPLE Agenda’, there is so much more why Edo people are eager to vote for Pastor Osagie Ize-Iyamu, candidate of the All Progressives Congress, APC, in the September 19th gubernatorial election.

Don’t blame them. Who doesn’t like good things especially, when they are literally free? With Ize-Iyamu as governor, the state would also have his wife, Professor Idia Ize-Iyamu, an equally competent, cerebral and conscientious woman, as First Lady. Theirs is a pairing made in heaven and consecrated here on earth for the betterment of Edo people.

For the past two decades, Professor Idia, a consultant orthodontist at the University of Benin Teaching Hospital, had served as the unsullied force of hope and energy behind her lawyer-husband as he navigated through a successful private legal career and an illustrious public service.

Now that he aspires to be governor of their beloved state, there is no scintilla of doubt that she would enhance and encourage his patriotic, heartfelt efforts and imbue him with the verve and value necessary to accelerate his wholesome and widespread growth plans for Edo State.

The job of a governor requires domestic felicity, an impartial omnipresent sounding board and informed adviser – someone to keep him grounded and focused on his campaign promises – a spouse that would have extraordinary resilience and grace under pressure. They don’t come better prepared and positioned than Professor Idia.

Here is a woman, who has expertly negotiated her way through life, charting her own course, blazing new trails while building a thriving career in both public and private services, which she has also balanced with sterling family life, more so as a doting wife and mother.

A 1992 graduate of the College of Medicine, University of Lagos, she worked with the Lagos University Teaching Hospital from 1992 to 1993 and did her National Youth Service Corp, NYSC, at the Military Hospital, Bonny Camp, Lagos, from 1993 to 1994. She also had a brief stint at the Smile Well Dental Clinic between 1994 and 1995.

But the allure of the academics was so strong that she moved back to the University of Benin Teaching Hospital (UBTH) as a lecturer in 1997 and has served in various capacities in the institution. She became an Associate Professor of Orthodontics in 2014 and is a Fellow of the West African College of Surgeons.

She also attended the Oxford University United Kingdom on a Commonwealth Medical Fellowship in 2016. Prof. Idia is also the Pastor-in-charge of Teenage Church at the Redeemed Christian Church of God (RCCG) Trinity Sanctuary, Region 13, Headquarters Parish.

So, Prof Idia, an inspirational, yet, unobtrusive, supportive, albeit stern professional and human, when it comes to the wellbeing of the people, will not just be an appendage of government, she would add value as an academic, a mother, an indigene and a medical practitioner.

Noteworthy is that her riveting message – that the improved lives of women and girls in the state and the world at large will lead to stronger and safer economies – is proving to be transformational and catching up with the women and youth demographics.

Recently, she told a gathering that women and children were the first victims of misgovernance. As such, she disclosed that there is a plan to train and empower Edo State women, provide infrastructure, and create gainful employment opportunities for the youths while noting that it was the fundamental duty of a responsible government to identify itself with the hopes and aspirations of the people.

Referencing her husband’s ‘SIMPLE Agenda’, she stated that with the population of 3.2million people and a landmass of 18,000 square kilometres, Edo State is bigger by land size and population than many countries. Yet, she lamented that the state does not have an institutionalised social welfare system to cater to the needs of its people.

As a corrective measure, she promised that, “Every resident of Edo State will be allotted a personalised lifetime Social Security Number. Every child born here will also have a dedicated Social Security Number. With this, his government can track the need for assistance amongst our women, children, disabled, the elderly and vulnerable members of that society.”

She further explained that the innovative system contained in the ‘SIMPLE Agenda’ would also assist the authorities to track the number of children going to school and those joining the labour market. And that each of the 192 wards in Edo State will have a social welfare officer and a team assigned to it while reporting to a coordinating office at the senatorial level that reports to the central database at the headquarters.

“The Social welfare offices will be empowered by law to adjudicate on matrimonial problems and help resolve them through family counselling and mediation services,” she added.

The renowned academic believes that the scope and the significance of her husband’s ‘SIMPLE Agenda’ far exceeds social media-ready sound bites and, therefore, is also rallying professionals and religious bodies among others towards the elections.

Conversely, some health professionals – her constituency – under the auspices of Better Health for Edo have endorsed Pastor Ize-Iyamu for having a detailed and realistic manifesto on how to provide quality and affordable health care for all.

In a meeting with Professor Idia, the medical group announced its formation of ‘POI Health’ support group, which includes members of subsectors in the health profession charged with the mandate to conduct health awareness campaigns at strategic points in Edo to sell the POI health agenda to other professionals and the public.

She thanked the body for its support and assured it of her husband’s commitment to the health sector, including addressing the poor doctor to patient ratio and lack of infrastructure.

“As a health professional, with years of practice in the state, I’m familiar with the issues you have raised. In Edo, today, we have less than 200 doctors in the 18 local governments to serve 3.5 million people. This has caused a poor ratio of one doctor to 17,500 people.

“The only good hospital we had as a state hospital, the Stella Obasanjo Hospital, Benin, which catered for a large number of diverse medical, surgical and gynaecological issues, was stripped of the state-of-the-art facilities and turned to a COVID-19 centre.

“If you go to the Central Hospital, Benin, owned by the state government, there is no roof at the male medical ward. The dialysis centre is no more functional. The stench from the heap of faeces there is suffocating,” she noted with promising of a better future.

She concluded that in the ‘SIMPLE Agenda’ is contained, a detailed and workable plan for doctors and solutions that would help to provide an enabling environment and build infrastructure that would generate employment and give the people a better life and livelihood.

Without doubts, it suffices to say that, behind the steely, serious, business-like, compassionate, trustworthy and promising mandate that the Ize-Iyamu candidacy represents is a sound and solid professor, who is coming all out to give her husband’s governorship bid the best possible push and support, both at home and in the public.

– Bello-Ishola works and lives in Lagos

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Let’s Talk About Obaseki’s Corruption Stench by Omobusola Afuwape  

For the sake of the electorate ahead of the September 19 governorship election, the Independent Corrupt Practices and other related matters Commission should promptly commence investigations into certain allegations of abuse of office raised against the incumbent governor of Edo State, Godwin Obaseki.

When news broke that the Independent Corrupt Practices and other related matters Commission (ICPC) had been petitioned to investigate some allegations of financial malfeasances raised against Governor Obaseki, two quotable shares from two globally renowned personalities quickly came to mind.

First was the American whistleblower, who copied and leaked highly classified information from the National Security Agency in 2013, when he was a Central Intelligence Agency employee, Edward Joseph Snowden and claimed that, “There can be no faith in government if our highest offices are excused from scrutiny – they should be setting the example of transparency.”

The former United Nations Secretary-General, Mr. Kofi Annan is of the view that “If corruption is a disease, transparency is a central part of its treatment.”

Bringing these views home to Edo State, where the state holds governorship election next month, the onus of ensuring transparency and that the people retain their faith in government absolutely lies with the ICPC, a body constitutionally charged with the responsibility of exposing corruption among public officials.

The agency should dig down into the details provided by the petitioner and let the electorate and other Nigerians know the veracity of the allegations. The implication is that where the governor is found culpable of these allegations, voters can make up their minds on what to do with him at the ballot and on the other hand, if exonerated, he would not be deprived of the much-needed support.

Interestingly, the allegations contained details that are easily verifiable.

A member of the governor’s new political party, the Peoples Democratic Party (PDP) in Ward 3, Orhionmwon LGA of Edo, Andrew Egboigbe, in a petition titled, “Petition against the unfairly advantageous awarding of Edo State Contracts to Afrinvest Limited by Governor Godwin Obaseki”, alleged that the governor abused his office by awarding inflated contracts to his company, AfriInvest Limited, an action that is contrary to the provisions of the constitution.

The petition already marked as received by the commission on Monday, August 3, 2020, also alleged that Governor Obaseki has been converting state funds for the purpose of setting up a regional bank awaiting approval by the Nigerian apex bank, the CBN.

Hence, Egboigbe charged the Central Bank of Nigeria (CBN) to stand true to its core mandate of promoting sound financial system in Nigeria by declining the approval of the proposed regional bank purportedly linked to the governor and to investigate alleged payment of state funds into private accounts.

The petitioner alleged that Governor Obaseki, who founded his company, Afrinvest Limited in 1994 and stepped down as Chairman, Board of Directors in 2016, when he could no longer retain the position after he became governor, has been giving undue advantages to his firm, contrary to the provisions of Section 19 of the ICPC Act 2000.

Noting that despite the fact that the company remained “associate” as stipulated by Section 2 of the ICPC Act 2000, the governor’s emergence as governor has resulted in unprecedented financial boom for the company, whereas the governor and the company were unable to support his first term campaign with N10m.

“Mr. Godwin Obaseki’s emergence as governor suspiciously coincided with financial boom for Afrinvest Limited, leading to the firm winning contracts, notably from Edo State Government and making astounding profits it never posted since establishment.

“On one specific occasion, Mr. Godwin Obaseki, abusing his office as governor, single-handedly, without the approval of his cabinet and the legislative arm of government, awarded a I.8 billion naira consultation contract on the Water Storm Project to Afrinvest Limited without justification of the inflated sum and the nature of the contract,” the petition reads in part.

If investigation proves this allegation right, Governor Obaseki would have acted in contravention of Section 19 of ICPC Act 2000.

Egboigbe further alleged that, “The security votes of Edo State, increased to an annual sum of 7.5 billion naira by Mr. Godwin Obaseki, since 2018 has been deposited in Afrinvest Limited bank account, and serves, alongside other illegally obtained profits, as the starting capital used to resuscitate Primus Bank, which Mr. Godwin Obaseki, acting through his proxies, is now seeking approval for, to operate as a regional bank.”

The governor’s main challenger, the All Progressives Congress (APC) candidate, Pastor Osagie Ize-Iyamu, has had the feeling that something was fishy about the security votes, not just because it was arbitrarily increased from N6 billion to N7.5 billion but because the police wasn’t getting enough to genuinely police the state.

In a maiden edition of his live broadcast on his Facebook page, Ize-Iyamu stated that: “The present government has not been able to show any serious commitment to the security funding of the state. Every month, the governor collects millions as security vote and gives the police little. That does not show commitment to security. The amount is not even enough to fuel vehicles.”

He expressed concern that Edo State was perhaps the only state in the South-south region without adequate investments in technology, which could be deployed to tackle crime.

“In this age, what is our investment in technology? Edo State might be the only state in the South-south that does not have trackers that can be used to trace kidnappers. The government must show sincerity in combating crime,” he said.
On the abandoned Water Storm Project, which Egboigbe alleged was awarded to Obaseki’s Afrinvest, Ize-Iyamu restated his commitment to ensuring its completion, even as he expressed surprise that Obaseki chose to not complete it when he became governor.

“The water storm project cannot be abandoned. I didn’t initiate it, but we must commend those who planned it. Even four years ago, when I was contesting, I commended the foresight because flooding is a major challenge in Benin.

“To abandon the project the way it has been abandoned is imprudent and wicked, especially coming from a governor that was part of its conception. Afrinvest was involved in the financing of the water storm project.  How do you rationalise a governor, who was part of that process to now decide that he is not interested in the project?” Ize-Iyamu lamented.

Meanwhile, the Edo State Media Campaign Council of the All Progressives Congress (APC), through its Chairman, Prince John Mayaki, who was until recently the Chief Press Secretary to the governor, has sustained its accusation that the Obaseki administration was emptying the state’s treasury by sponsoring nefarious political activities, fake protests and campaigns of calumny.

Talking from an insider’s perspective, Mayaki opined that Governor Obaseki has been chasing shadows, while neglecting important governance issues, especially the management of flood and protection of lives and property.

The Nigerian Meteorological Agency (NIMET) and Nigeria Hydrological Services Agency (NIHSA) listed Edo as one of the highly probable flood-risk states in the country.

The campaign council said: “The warnings by NEMA, based on the predictions of NIMET and NIHSA, that Edo is among the highly probable flood-risk states in the coming months, should send alarm bells ringing on Osadebey Avenue (Government House, Benin), as a matter of priority for the government.”

Etsako East, Esan Southeast, Ikpoba-Okha, Oredo, Etsako Central, Esan Northeast and Ovia Northeast local governments were identified as flood-risk areas in the predictions of NIMET and NIHSA.

Definitely, this governor isn’t finishing well let alone securing another term. But, in all, Edo’s money must be properly accounted for.

– Afuwape wrote from Ota, Ogun State

Court grants orders restraining Edo Govt. from further Defaming Capt. Hosa Okunbo

…Business mogul seeks N4b in damages

An Abuja High Court, presided over by Justice Suleiman Belgore, has granted orders of injunction restraining the Edo State Government and its officers from making further defamatory publications about business mogul, Captain Idahosa Wells Okunbo (popularly known as Capt. Hosa).

The defendants to the suit are the Honourable Attorney General of Edo State sued as the 1st defendant, and Crusoe Osagie joined as the 2nd defendant.

Crusoe Osagie, as the Special Adviser, Media and Communication Strategy, Edo State Government, signed the defamatory publications in question.

A statement issued by Media Adviser to the business mogul, Samuel Ajayi, said the orders were given on Monday, August 10, 2020 in Abuja.

Quoting from the court ruling, Ajayi said the court granted, among others, orders “restraining the Edo State Government, whether acting through the first defendant and or 2nd defendant, its agents, representatives, officers, servants, proxies, assigns, trustees or any other person howsoever described, acting directly or indirectly for the Edo State Government, from publishing, causing to be published, circulating, further publishing, reporting or publicising the publication captioned ‘Okunbo, Oshiomhole making plans to disrupt Edo Governorship Elections,’ and or any other related defamatory publication by any means whatsoever, including publications by/on print, electronic and social media platforms.”

In a suit filed by counsel to Captain Hosa, Dr Adedapo Olanipekun, the business mogul and elder citizen of Edo State, had sought an order restraining the defendants, by themselves, agents, representatives, officers, servants, proxies, assigns, trustees or any other person, howsoever described, acting directly or indirectly for them from publishing, causing to be published, circulating, further publishing, reporting or publicising the publication captioned ‘Okunbo, Oshiomhole making plans to disrupt Edo Governorship Elections,’ and or any other related defamatory publication by any means whatsoever, including publications by/on print, electronic and social media platforms including publications in The PUNCH and THISDAY newspapers.

The senior advocate had also sought a declaration that the defendants’ publications of 20 July, 2020, captioned “Okunbo, Oshiomhole making plans to disrupt Edo Governorship Elections,” which appeared on pages 26 and 53 respectively of The PUNCH and THISDAY newspapers, were false, fabricated, misleading, malicious, unfair and defamatory.

He also sought an order compelling the defendants to wholly retract or withdraw the false, fabricated, misleading, malicious, unfair and defamatory publications of 20 July, 2020, captioned “Okunbo, Oshiomhole making plans to disrupt Edo Governorship Elections,” which appeared on pages 26 and 53 respectively of The PUNCH and THISDAY newspapers, from The PUNCH, THISDAY and any other platform/newspaper same was published.

Captain Hosa, through his counsel, is also seeking the sum of N4,000,000,000 (Four Billion Naira), “being aggravated and exemplary damages for the embarrassment, inconvenience, losses and damages done to the claimant’s person, character and interests, as a result of the defendants’ libellous publications of 20 July, 2020; (with) cost of legal representation/action assessed at N50,000,000.00 (Fifty Million Naira).”

Heritage Bank, CBN drive improved Investment Outcomes, Job Creation

Heritage bank Plc in collaboration with the Central Bank of Nigeria (CBN), under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL) has continued to drive improved investment outcomes and job creation.

Through this partnership, Heritage Bank is not relenting in its efforts at boosting the agriculture base of the nation to make farming profitable to stakeholders and attractive to the youth.

Recently, the apex bank approved the disbursement of about N75billion as loan to farmers in the 36 states and the Federal Capital Territory (FCT) under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL).

The loan guarantee scheme is a public-private sector initiative set up to transform the country’s agricultural sector. It was initiated by the CBN, the Bankers’ Committee and the Federal Ministry of Agriculture and Rural Development, to guarantee 75 per cent loans provided by Deposit Money Banks (DPB) to farmers as part of efforts to transform the country’s agricultural sector.

Speaking on the several CBN intervention scheme and private sectors’ partnerships, which have accumulated to thousands of job creations, the MD/CEO, Heritage Bank, Ifie Sekibo, noted, “under the Central Bank of Nigeria’s Anchor Borrowers Programme (ABP) and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Heritage Bank is positioned to provide on-lending funding to aggregated farmers in the 2020 farming season to grow various products that will serve as raw materials to the processors, thereby ensuring market linkages and access to the market as well as reduce importation and conserve Nigeria’s external reserves.”

According to him, Heritage Bank is also supporting the drive for cash crop commodities that would boost Nigeria’s foreign exchange earnings, which President Mohammad Buhari’s administration has always been cautious given the dangers the continuous reliance on imported food items pose to its efforts to create jobs as well as develop and diversify the economy.

No doubt Heritage Bank’s unswerving lending to agriculture sector has earned it deluge of accolades to its portfolio.

Heritage Bank Plc earned the Nigeria’s Most Innovative Banking Service Provider in 2017 and 2018 that were bestowed with the inaugural Nigeria Sustainable Banking Award convened by the CBN “For Sustainable Transaction of The Year in Agriculture.”

The Nigeria Agriculture Awards (NAA), at its annual event convened by AgroNigeria (The Voice of Nigeria’s Agriculture), to appreciate immense efforts of those who have contributed to the success of the agriculture sector in the country, announced Heritage Bank as the Agric. Bank of the Year.

According to NAA, Heritage Bank was selected in recognition of its footprints in the Agric. space, especially the Triton Aquaculture Project.

Also, Heritage Bank Plc which has been adjudged the lead settlement bank for Gezawa Commodity Market (GCMX), has collaborated with key stakeholders to revolutionise the agricultural value-chain.

The collaboration was aimed at providing fully integrated ecosystem for commodity Exchange.

Heritage Bank was appointed the Lead Settlement Bank and Transaction Adviser to GCMX and a memorandum of understanding (MoU) was signed between the two firms, whilst over 10, 000 farmers in 3000 cooperatives in the 44 local governments of Kano States were hosted.

The partnership between Heritage Bank and the Exchange has continued to facilitate the ease of agro commodity trading in a more structured way, especially with the closeness to the Dawanu, the largest grain market in Africa.

Saidi Balogun’s Latest Movie, ‘Funfun’ Hits Home Screens August 10.

The two-in- one movie thrive on the lesson that parents are the ultimate role models for children. It was produced and directed by the Ibadan born talented role interpreter himself. Giving details about ‘Funfun,’ Balogun said ”Every words, movement and action come with effect on the children. No other person or outside force has greater influence on the child than the parents”

Saidi Balogun, a name to reckon with in the industry with well over 30years experience, the mulit-talented Actor and singer has produced a lot of  movies in recent time like Eti Keta,You or I and Modupetemi.

He is also reputed as the first and only African man to produce a two cast movie in Africa. He is out this time with what priviledged industry watchers have labeled a powerful blockbuster.

FUNFUN (Purity) shot in different towns and cities in Nigeria is ready to hit individual home screens this August. The movie which was bankrolled by Whitefield Hotels Ilorin will be Marketed and distributed by Olasco Films and will be released in Yoruba and English on DVD by August 10, 2020 while it will come alive on YouTube ApataTv on August 11, 2020.

A host of fantastic stars paraded in the movie include; Adunni Ade, Femi Adebayo, Bolaji Amusan, Sola Olaibi, Yinka Alabi, Kenny Ogunde, Nkechi Blessing, Mustipha Sholagbade, Wumi Toriola, Samuel Ajirebi, Basira Badia and Sunkanmi Omobolanle

Other professionals who worked on the movie are: Exec. Producer: Oluwole Kajola, Written by: Timothy Enietan Matthews, D.O.P: Ismail Salim and Mojeed Ajao, Continuity: Bosun Otayemi, Coordinator: Muyideen Raji, Production Manager: Kenneth William

Obaseki’s Beaten Path to Electoral Disgrace by Ufuoma Thomas

History has a cynical way of repeating itself. A few months to the 2018 governorship primary election of the All Progressives Congress, APC, in Lagos State, it had become crystal-clear to former Governor Akinwunmi Ambode that the party was not keen on returning him for a second term.
The party was unequivocal in its stance that Ambode had towed the path of dishonour by abandoning an otherwise flourishing and effective Lagos developmental blueprint but running a one-man show in government.

Indeed, at the time, Lagos had virtually retrogressed to its pre-1999 days, when humans jostled – breath to breath – with mountainous heaps of refuse for space on the streets; traffic was chaotic and virtually all the roads in the state had become deplorable. Crime and insecurity were pervasive and the people lived in constant fear.

Ambode had lost his marbles and Lagos was no longer working but he was adamant on a second term. Yet, a negligible section of the populace was still sympathetic to him. They believed, rather that, he was being unfairly treated by his godfathers, and party leaders, until that Sunday afternoon in late September 2018.

He had called a press conference to speak on the forthcoming primary election and other topical issues in the state. The media had congregated on the lawn of the Governor’s Office, Alausa – a typical American tradition. Without much formality, Ambode burrowed into his prepared speech and it read smoothly until he segued into spilling dirt about his major contender, Babajide Sanwo-Olu.

He told a bewildered populace on a live television that Sanwo-Olu did not have the mental capacity to run Lagos, because he previously underwent treatment for mental health challenges and challenged curious residents to proceed to Gbagada General Hospital to obtain the records by themselves.
Until he decided to contest for the governorship seat, Sanwo-Olu was an appointee of Ambode as General Manager of the Lagos State Development and Property Corporation.

Ambode also stated that Sanwo-Olu had a criminal case in the United States of America for spending counterfeit notes in an American club. If Lagosians were shocked, Ambode’s aides, who were privy to the original script, were mortified. That wilful resort to personal attacks and character assassination was not part of the script, some of them confided in close associates. His fate was sealed therefrom.

Even after leaving office, Lagosians never forgave him. For a governor, who also started pretty well, succeeding the iconic Babatunde Raji Fashola, Ambode decided to go rogue, dismantling structures and processes laid by his predecessors to the detriment of the people of Lagos State. It is so bad now that his name has become a euphemism for regressive politics.

Alas, it is this same pathway to political and electoral hara-kiri that Obaseki has chosen to tow, warts and all, forgetting that those who do not learn from history are doomed to repeat it as the guinea pigs of history.

Ordinarily, by now, he should be on the home run, with his catalogue of achievements enough to earn him a second term rather, his sordid stewardship continues to haunt him and dog his electioneering.

More perplexing is that his Make Edo Great Again MEGA slogan is an appropriation, showing lack of ingenuity and perspicacity, of American President, Donald Trump’s campaign slogan four years ago. Obaseki had four years to make Edo greater but he frittered the opportunity away on the altar of paranoia and power-drunkenness, electing to fight rather than work with party leaders and state stakeholders.

Whilst he hasn’t publicly described his opponent in the September 19th governorship election in unsavoury terms, his proxies are out in full force with their puerile and purblind propaganda.

Days back, a news report surfaced on social media claiming that Pastor Osagie Ize-Iyamu, the candidate of the All Progressives Congress, APC, was HIV positive.

A phantom test result to that effect also made the rounds while one Dr. Lizzy Oghenerume, purportedly an official of the University of Benin Teaching Hospital (UBTH), where Ize-Iyamu’s wife, Prof. Idia Ize-Iyamu, is a Consultant Orthodontist, has claimed that she had been diverting anti-retroviral drugs “meant for poor people who have the disease in the state to her husband to keep him alive, so it is no news that the APC candidate has the disease.”

The Ize-Iyamus have graciously ignored the so-called Oghenerume and her repellent and reprehensible tales in the understanding that if she truly existed, she was just a pawn in the hands of Obaseki and his Peoples Democratic Party, PDP, acolytes.

These are, indeed, desperate times for Obaseki, who is staring defeat in the face and like a drowning man, is clutching at everything in sight to stay afloat. Unfortunately, for him, and his cheerleaders, this is a lost cause. Edo State indigenes have their minds made up on a change of government and Pastor Ize-Iyamu ticks all the boxes in what they desire in a candidate.

So, no matter how much mud is splattered the APC candidate’s way, the people can decipher the truth. Even Obaseki’s immediate family members know the truth; they have seen the light and have unanimously declared that it is either Pastor Ize-Iyamu or nobody.

So, Obaseki deserves pity. The ringing endorsement of his opponent by his relatives further underscores this. At Ize-Iyamu’s private residence in Benin City recently, some of the governor’s relatives led by his first cousin, Victor Obaseki, admitted that although the governor was their kin, he would not get the support of the family.

Victor stated: “I am here today in the company of my cousins to support Pastor Osagie Ize-Iyamu. Godwin Nogheghase Obaseki, the executive governor, is our cousin. Generally, the Obasekis have their way of doing things. We are a different branch of faith. We are supporting our brother, Pastor Osagie Ize-Iyamu, with unalloyed support fully for him. I have supported him before, and I would continue to support him. We would do all our campaigns for him without let or hindrance, fully from the bottom of our hearts.”

Following suit was the Deputy Speaker of the Edo House of Assembly and member representing Akoko-Edo Constituency I, Hon. Yekini Idiaye alongside four other members of the Assembly, who pledged their support to Pastor Ize-Iyamu, bringing the number of elected members, who have done likewise in the Edo Assembly to 17.

Barely 48hours after declaring his support, Idiaye was impeached by the Assembly, a sad testament of Obaseki’s intolerance and imprudence that have blighted his administration and which would ultimately cost him the election. No doubt, the September 19 election is already lost and won. Congratulations to Pastor Osagie Ize-Iyamu!

– Thomas, a public affairs analyst, wrote in from Benin City, Edo State

PreDiagnosis Partners American University For Better Grassroots Healthcare

Nigeria’s leading grassroots telemedicine platform, PreDiagnosis International, has announced its partnership with the Project ECHO Institute of the University of New Mexico, USA for knowledge sharing and transfer on chronic and complex diseases with medical professionals in the country.
According to Dr. Folarin Olasogba, the Chief Project Officer of PDI Telehealth Consult which is the arm of PDI driving the collaboration, the innovative tele-mentoring programme codenamed ‘Project ECHO’ is designed to create virtual communities of learners by bringing together healthcare providers from all over Nigeria and subject matter experts from different parts of the world using video conference technology, brief lecture presentations, and case-based learning to foster an “all learn, all teach” approach.

He said the Project ECHO which stands for Extension for Community Healthcare Outcomes is a collaborative model of medical education and care management programme designed to empower local clinicians including consultants, doctors, nurses and technicians to deliver better care and treatment of chronic, common and complex diseases, especially in remote and underserved locations.

He added that PDI as the Nigerian Official Replication Partner with the Project ECHO Institute of the University of New Mexico is undertaking the project to assist the country develop the capacity to safely and effectively treat chronic, common, and complex diseases in rural and underserved areas across Nigeria and to monitor outcomes of this treatment while leveraging the resources of the PDI Telehealth Consult platform.

In his words, “The project is not only designed to use innovative technology to bridge the gap between urban and rural healthcare specialists and providers in the country; it is to help health services providers to better undertake co-management of patients’ treatments, thereby fostering knowledge depth and technical competencies, in addition to reducing professional isolation”.

Dr. Olasogba further explained that by encouraging collaboration and communication between rural and urban healthcare providers and specialists, the Project will help health professionals in the country to become more highly skilled in the treatment of diverse chronic and complex diseases, thus creating a center of excellence in many remote communities.

“Under the PDI-Project ECHO collaboration, healthcare providers in rural and underserved areas of Nigeria will be able to treat their patients with a remote team of specialists in the fields of oncology, cardiology, endocrinology, psychiatry, infectious diseases, pharmacy and substance abuse/addiction, among others. Through this Initiative, PDI Telehealth Consult is trying to lead in the race to build a viable and sustainable national Clinical Knowledge Platform that combines authoritative contents and shared experiences drawn from the expertise available in the Nigerian healthcare community and across the world so that physicians, medical students and other healthcare workers will be able to tap into Nigeria’s largest, most powerful Continuous Professional Development (CPD) network to resolve challenging questions at the point of care for mostly lower-income patients of different diseases,” he submitted.

FLOTRADE Investment soars higher in Forex training and trading

As the ravaging pandemic of coronavirus continue to rage the world, and the new normal steadily grips the global stage. Businesses, enterprises, governments and almost every facet of life has encountered disruption. But one of the sectors that have enjoyed geometric rise in the midst of this pandemic is the foreign exchange market, particularly in Nigeria.

Popularly called FOREX, stakeholders in the global financial market have continued to display unusual trading skills, as these period require unusual skills to triumph. One training, trading and mentoring firm in Nigeria that has continue to soar higher against the tide of the pandemic is FLOTRADE Investments Ltd; the country’s representatives of Tifia ECN Forex Broker.

Flotrade Investments with her exquisite corporate office sited in the heart of Lagos’s capital city, Ikeja is jointly run by the trio of Ogunrinde Folarin, Aballo Michael and Soneye Abolaji. These young entrepreneurs are thoroughbred Forex trainers, coach, trader and investors with at least 10 years experience each.

With a clients base of not less than 4000, including traders, students, mentees and investors, Flotrade Investments has successfully emerged the new face of profitable forex trading in this part of the country. The firm is a conglomerate of Forex market analysts, with the vision to bridge the gap between the general populace and the financial markets by empowering traders with the right skills to make a living in the forex market.

Speaking about their rise in the market, Ogunrinde; Lead-Partner, Flotrade Investment described the company’s strengths and core values as integrity, zeal, team play, diligence and love for humanity.

“We are a team of young and agile entrepreneurs, we strive for the best every morning. We play and carryout our roles as team players. And we are a company with integrity, we don’t promise too much, we prefer to promise less and deliver more with result. Our love for humanity is also another value that propel us to give the best to our students, so we can create wealth and help the country’s cash in circulation. Diligence and zeal are also another part of us that we don’t joke with”, Ogunrinde enthused.

At their weekly free seminar at the Ikeja office on Wednesday, Bisi Balogun; a trainee, who has been trading with the aid of Flotrade team for 4 years spoke glowingly of the Flotrade team saying, ‘they are a team of competent trainers, and there trading tips are topnotch. I have known them for years, and they have remained my coach and mentor in forex trading’.

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