₦airaland Forum

See what Analysts are saying about Access Bank/Diamond Bank merger deal
By
Fikayo Owoeye -
December 17, 2018

Nigerians woke up this morning to the news of a merger between Tier-1 Bank, Access Bank and Tier-2 Bank, Diamond Bank.

For industry watchers, the deal is a long anticipated one. While the two financial institutions have released a statement confirming the signing of Memorandum of Agreement.

Nairametrics brings to you a compilation of reactions by Analysts and Stock Brokerage firms on the new merger agreement.


A huge M&A in the Nigerian Banking Sector@Nairametrics @proshare @ugodre pic.twitter.com/VFGMlnYS6K

— CSL Stockbrokers Ltd (@CSLStockbroking) December 17, 2018

High impairments, especially with respect to loans to the mid stream oil and gas sector have been largely responsible for Diamond Bank’s poor performance in recent years and and has been responsible for its weak capital position.

— CSL Stockbrokers Ltd (@CSLStockbroking) December 17, 2018

Diamond Bank has a strong retail franchise especially on the liability side giving it the lowest funding cost among peers. A merger with Access Bank, which still has a relatively high funding cost will help the bank grow low cost liquidity base.

— CSL Stockbrokers Ltd (@CSLStockbroking) December 17, 2018


Diamond Bank has consistently grown deposits even in the face of paucity of deposits and has a relatively robust digital platform – As at end of June 2018, over 3 million customers are on Diamond Mobile App.

— CSL Stockbrokers Ltd (@CSLStockbroking) December 17, 2018



What are the shareholders associations doing on this or they have been settled? What kind of M&A is this? Was there any AGM/EGM that all these issues were fully disclosed and the regulatory bodies did what is appropriate? These are grave issues if these didn't happen…

— John Wesey (@johnwesey) December 17, 2018

Dear @SECNigeria and @cenbank the ineptitude of board members is costing shareholders alot of money. Where are your regulatory powers? Skye=Polaris now Access~Diamond in it all culprits should be held liable for playing pingpong with shareholders funds! @BBoason

— Torino (@oodije) December 17, 2018

Well it appears the CBN tacitly dodged a bullet by pushing this through in an attempt not to repeat a "Skyebank". Imagine the reaction if the CBN had recapitalised the bank with Billions to "save depositors funds", at a time many elites have issues with micro credit to traders.

— Yinka Ogunnubi (@yinkanubi) December 17, 2018

Access bank swallowed Diamond bank..

My school fees next semester is there ooooo.

I didn't do MMM oo �

— Kingston James ��⚽️ (@coach_James29) December 17, 2018



2/ This challenge by two banks in quick succession, sends a signal that authorities must take seriously. We need to look critically at the underlying problems and develop strategies to address them @BBoason @CTVtempili @BizMorning @Channels24_UK @channelstv @cenbank

— Dr. Ikpenmosa Uhumuavbi (@ikpems) December 17, 2018

4/ Nigeria needs a Competition Commission as a regulator and Competition Law/Regulation. The Diamond Bank deal needs a report from that body. The @SECNigeria acting in that capacity should work with the @cenbank to provide guidance @BBoason @CTVtempili @BizMorning @channelstv

— Dr. Ikpenmosa Uhumuavbi (@ikpems) December 17, 2018

Access Bank @myaccessbank – #Nigeria's confirmed Broad Street acquirer – moved on @UNIONBANK_NG during consolidation, got #Akingbola's #IntercontinentalBank and now buying @DiamondBankNG Someone up Broad Street in that red-logo sky-scrapper would be green with envy.

— Boason Omofaye (@BBoason) December 17, 2018

Both @myaccessbank and @DiamondBankNG are burdened with Outstanding Shares in issue:
-Access: 28.927bn
-Diamond: 23.16bn
At whatever share exchange, new @myaccessbank will still be loaded down with huge Outstanding Shares. unless a Share Restructuring or Buy-Back takes place

— Boason Omofaye (@BBoason) December 17, 2018

Access actually parting wt only N23.16billion cash in this https:///3YClGAAc4o this the fair price for a bank with asset base of N1.5trillion and shareholders' fund of N220billion?

Fixed asset value alone is N68billion.

Net asset is currently N220billion.

This is fraud!

— Folorunso Ayo Dada (@FolorunsoDada) December 17, 2018

On Access Bank and Diamond Bank.

Another example that unnecessary denials & shady runs are as bad in the corporate world as they are in the Public Sector.

Diamond kept denying this deal till the very end. Result of unpaid/nonperforming loans largely taken by the Dozie family.

— Ayò Bánkólé (@AyoBankole) December 17, 2018

https://nairametrics.com/see-what-analysts-are-saying-about-access-bank-diamond-bank-merger-deal/

Sorry, please did you mean your last meal for the day or during the day?

Diospropio:
You sef your chop chop too much.

For breakfast, I take bread and tea. I buy the milk every month, so it's more cost effective. So, I spend just 120 for bread.

For lunch, which is usually my last meal for the day, I either go to the organisation's cafeteria where food is quiet cheap or eat outside. I spend a minimum of 300. And that solves my hunger for the day.

So, try to discipline yourself. No be only food you go work go do nah.

Lol, help me ask am o.

With your name Quickberry your keypad must be faster than your perception.

socialmediaman:
So the link I sent was for who?

Lol

doctokwus:
Soon as I saw "Nigerian firm,to be completed next, to provide 500,000 jobs",I knew it would be one of those scams to siphon money from the government contract that would come from this propaganda.

I should have known you were a troll. You've succeeded in derailing the post.

Sirjamo:
And baby factory

Why the insult on Jesus? Didn't you see the link I shared? Where does it say i'm the author of the post? Besides, the info was released by NBS a few moments before this post and you're depending on CBN stats that's yet to be updated. Are they the same institutions?

quickberry:
Stop lying....inflation rate for november 2018 has not been released.

You are even using the name of Jesus to type lies

Jesutakewe


https://www.cbn.gov.ng/rates/inflrates.asp?year=2018&month=10

Why Nigeria is suing Royal Dutch Shell and ENI for $1.1bn
By
Emmanuel Abara Benson -
December 14, 2018

In a not-so-surprising move, the Nigerian Federal Government, yesterday, instituted legal action against the Royal Dutch Shell and ENI in a London commercial court.

This move is in connection with a 2011 Nigerian oil contract which went awry and is now the focus of an even bigger lawsuit in Italy, involving former employees of both oil companies.

The controversial oil deal — the OPL 245 oilfield — was said to have been signed off to Shell and ENI after both companies allegedly paid bribes to Nigerian officials to the tune of $1.1 billion.

The man who is alleged to have received the bribe is former Nigerian Minister of Petroleum, Dan Etete, who used his company to receive kickbacks from the deal.

“It is alleged that purchase monies purportedly paid to the Federal Republic of Nigeria were in fact immediately paid through to a company controlled by Dan Etete, formerly the Nigerian minister of petroleum, and used for, amongst other things, bribes and kickbacks.

“Accordingly, it is alleged that Shell and Eni engaged in bribery and unlawful conspiracy to harm the Federal Republic of Nigeria and that they dishonestly assisted corrupt Nigerian government officials.” – Nigeria Government

It is on the basis of this alleged bribery that the Nigerian Government is suing both Shell and ENI.

Already, the Nigerian Government has already instituted a separate legal action against America’s JPMorgan for allegedly transferring the sum of $800 million to Mr Dan Etete; money that originally belonged to Nigeria.


Meanwhile, both Shell and ENI have continued to maintain innocence

According to Reuters, ENI said in an emailed statement that the 2011 transaction was a legal one, even as it refuted “any allegation of impropriety or irregularity in connection with this transaction.”

“Eni signed a commercial agreement in 2011 for a new licence for OPL 245 with the Federal Government of Nigeria and the Nigerian National Petroleum Company and the consideration for the license was paid directly to the Nigerian government.”

Similarly, the Royal Dutch Shell stated that in 2011, it legally settled a “long-standing legal dispute related to OPL 245” with the help of the Federal Government of Nigeria. According to the company, it never committed any wrongdoing.

It should be noted that the 2011 oil deal has since been embroiled in serious controversies, so much so that neither ENI nor Shell have been able to operate the OPL 245 oilfield.

https://nairametrics.com/nigeria-sues-royal-dutch-shell-for-1-1bn-over-opl-245-oilfield/

This payment channel had the highest value of transaction in Q3 2018
By
Damilare Famuyiwa -
December 14, 2018 0

The National Bureau of Statistics (NBS) has released the Selected Banking Sector Data for Q3 2018 and the data released has revealed that the channel of transaction in the banking sector which recorded the highest value is transactions made through the NIBSS Instant Payment (NIP).

With transaction of 168.618 million in volume made through NIP, the transaction in monetary value stood at N19.95 trillion for the period.

While the ATM followed with a volume of 220.27 million transactions; the value of transaction made through ATM stood at N1.59 trillion, coming second to NIP in terms of transaction value but is the channel with the highest volume of transaction.

The report also show that payment through cheque witnessed a transaction volume of 2 million amounting to N1.80 trillion.

For POS, there was 86 million transactions made via this channel and POS transaction value stood at N650 billion.

In the report, web channel also witnessed transactions of 13.96 million in volume, amounting to N69.07 billion. Mobile payments channel transaction was 23.91 million in volume, amounting to N496 billion.


Also, 7.7 million transactions were made through NEFT and amounted to N3.5 trillion in monetary value. The volume of transaction for mCash stood at 62,061 volume and amounted to 210 million in monetary value.

Other transactions like Ebillspay, Remita, NAPS, and Central Pay volume stood at 279,177, 10,908,721, 4,668,487, and 340,016 respectively and amounted to N115 billion, N4.22 trillion, N2 trillion, and N1.56 billion respectively.
About NBS

The National Bureau of Statistics came into being with the merger of the Federal Office of Statistics (FOS) and the National Data Bank (NDB). The creation was part of the implementation of the Statistical Master Plan (SMP), a programme document of the Federal Government of Nigeria (FGN).

The NBS provides comprehensive, timely, relevant, responsive and customer focused statistical information.

https://nairametrics.com/nbs-selected-banking-sector-data-report-shows-nip-got-the-highest-value-of-transaction/

Before nko? Is he not an Urhobo man?

Lol, I want to leave your country and you expect me to show you my resources so that you'll steal it by force like you did to Niger Delta Unless you're saying I should show you my ASS... That you'll get in abundance.

efighter:
I am saying "show me your assets".

Bros, in America it is worse. Look that all the lies CNN & BBC, WP, NYT etc are telling against TRUMP and see how he helplessly refers to them as FAKE NEWS because he can't prosecute them. I'm not supporting HATE SPEECH o. I'm only pointing out the USA part you mentioned. Meanwhile didn't this govt benefit from hate speech in 2014?

PrinceBBlack:
Its sad that it is happening but still we need to be aware of some facts... there is freedom of exoression but doesnt mean freedom of expression can just be expressed. The government has actually tolerated hate speech from opposition and even from the citizens. We need to know where to stop. While i am condemning the fact that he should not be unlawfully detained, it dossnt stop the fact that he may be used as a scape goat to others on this so called freedom of speech. Can u write a hate speech about the president of USA and u think it u have a freedom of speech. We are lucky that things are not properly subjected to scrutinity. Let us be careful with the way we express ourselves

What is this one saying?

efighter:
Just North-West, North Central and South-West? So, no other mineral resource in the South-East apart from drug trafficking, kidnapping and armed robbery.

NEXT LEVEL has started o.

Nigeria’s first gold refinery to provide over 500,000 jobs
By
Damilare Famuyiwa -
December 14, 2018 0

Nigeria’s first gold refinery to be completed by the end of the first half of next year. This was confirmed at a ground-breaking ceremony on Thursday.

Kian Smith Trade & Co Limited, a Nigerian firm, said the Nigerian gold refinery would be completed by June 2019.

According to the firm, the refinery would start with a production capacity of three tonnes per month of 99.99 per cent gold and one ton per month production of 99.99 per cent silver.

The Vice Chairman ofKian Smith, Nere Teriba said the firm has already secured a significant monthly supply of gold from Zamfara, Kebbi, Kwara, Niger, Kaduna, Ibadan, Ile-Ife, and Ilesha and about 100kg per month from other parts of Africa.

Teriba added that the firm was finalising supply agreements and terms from suppliers in Kano.

“Next week, we will be securing supply from Kogi State.”

Teriba further revealed that the refinery, when completed, will provide more than 500,000 jobs in two years as it continues to support its suppliers in their bid to become registered business entities in the mining sector.


During the ground-breaking ceremony, the Minister of State for Mines and Steel Development, Abubakar Bwari said the Federal Government is determined to develop the mining sector and to act as a catalyst for sustainable economic growth of Nigeria.

“Part of our marching orders in the mines and steel development ministry is that we are expected to develop the sector to increase its contribution to the nation’s Gross Domestic Product, improve its capacity to create jobs and engender sustainable mining.” – Bwari

Recall that the Federal Government had issued the first gold refining licence which was given to Kian Smith Limited some time this year. The Minister of Budget and National Planning, Udo Udoma had made the disclosure.

Nairametrics had also reported that private investors have expressed their readiness to commit about $3.32 billion to fund some projects in the mining sector.

https://nairametrics.com/nigerias-first-ever-gold-refinery-to-be-completed-next-year/

Nigeria’s first gold refinery to provide over 500,000 jobs
By
Damilare Famuyiwa -
December 14, 2018 0

Nigeria’s first gold refinery to be completed by the end of the first half of next year. This was confirmed at a ground-breaking ceremony on Thursday.

Kian Smith Trade & Co Limited, a Nigerian firm, said the Nigerian gold refinery would be completed by June 2019.

According to the firm, the refinery would start with a production capacity of three tonnes per month of 99.99 per cent gold and one ton per month production of 99.99 per cent silver.

The Vice Chairman ofKian Smith, Nere Teriba said the firm has already secured a significant monthly supply of gold from Zamfara, Kebbi, Kwara, Niger, Kaduna, Ibadan, Ile-Ife, and Ilesha and about 100kg per month from other parts of Africa.

Teriba added that the firm was finalising supply agreements and terms from suppliers in Kano.

“Next week, we will be securing supply from Kogi State.”

Teriba further revealed that the refinery, when completed, will provide more than 500,000 jobs in two years as it continues to support its suppliers in their bid to become registered business entities in the mining sector.


During the ground-breaking ceremony, the Minister of State for Mines and Steel Development, Abubakar Bwari said the Federal Government is determined to develop the mining sector and to act as a catalyst for sustainable economic growth of Nigeria.

“Part of our marching orders in the mines and steel development ministry is that we are expected to develop the sector to increase its contribution to the nation’s Gross Domestic Product, improve its capacity to create jobs and engender sustainable mining.” – Bwari

Recall that the Federal Government had issue the first gold refining licence which was given to Kian Smith Limited some time this year. The Minister of Budget and National Planning, Udo Udoma had made the disclosure.

Nairametrics had also reported that private investors have expressed their readiness to commit about $3.32 billion to fund some projects in the mining sector.

https://nairametrics.com/nigerias-first-ever-gold-refinery-to-be-completed-next-year/

JUST IN: Inflation rises by 11.28% in November
By
Onome Ohwovoriole -
December 14, 2018 0

Figures from the National Bureau of Statistics (NBS) show Nigeria’s inflation rose by 11.28% year on year for the month of November. This is 0.02% higher than the 11.26% recorded in October. Details shortly.

https://nairametrics.com/november-2018-consumer-price-index-report/

Bbsharon:
The staff located at Mopa Arubidi area of Ile-Ife stands at 5.5m tall and about 1.2m in circumference at the foot and is believed to have been his staff while he was alive i.e his walking stick. Interesting The staff also served as his shield when he goes to war as he used it to wade off arrows and bullets from attackers. The staff has different markings engraved by the side from the top to the bottom with bullets holes and arrows gotten during battle. To this day before any Ooni in Ife emerges he must pay homage to the Oranmiyan staff with series and procedures of different sacrifices to carry out and also the traditional Oloja festival that takes place in September must be done yearly in honour of Oranmiyan by the Ooni.


After several battles Oranmiyan finally returned to Ife to become king and sent the reigning king into exile, being a great warrior the reigning king gave room for him to be king . After a while of reigning as king he called his warriors together and informed them he was going on a journey to visit his sons scattered across different kingdoms but he would be going alone as he was not going on a war mission this time around . The warriors were confused and terrified of being left alone, they showed their grievance and poured out their fears. They said

‘’ what if you leave and a great war starts? We will all be killed “

Then he called his wife and told her to stay back with them and whenever they sense a war his wife should call on him with a distinct language he taught her now known in Ife as the ‘Gbajure’ language which is still spoken till date.

www.demitalks.com/2018/12/11/my-visit-to-oranmiyan-staff

I have a question for you OP. If the saying is true that Oranmiyan was the son of Oduduwa he sent to Benin. How come in your story he returned to Ife and sent the King (Oduduwa I suppose) on exile? If it wasn't Oduduwa he sent on exile, then he must have deposed his own brother right? or who was that king he sent on exile? Please clarify.

FUEL TANKERS

Again, Oil marketers oppose promissory note for payment
By
Damilare Famuyiwa -
December 12, 2018

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) has opposed the Federal Government’s decision to pay its N800 billion debts in tranches.

In a statement made available to newsmen, DAPPMA opposed the government’s decision to pay its members a part payment of N236 billion through promissory notes.

According to the Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, the planned part payments were among the issues being considered in the ongoing talks.

However, the oil marketers have unanimously suspended their earlier directive to shut down depots nationwide and have given the Federal Government a five-day grace to pay the outstanding debt which it owed the marketers.

DAPPMA’s Executive Secretary, Olufemi Adewole, disclosed that the shutdown was suspended for five days to give the Federal Government time to fulfil its promise.

The association stated that its latest decision was due to the intervention of well-meaning Nigerians including the National Assembly as represented by the Senate Committee on Petroleum Downstream and the constructive engagement of the Federal Government team by the labour unions most affected by the disengagement of DAPPMAN’s personnel.



DAPPMAN said that it had resolved to recall its disengaged personnel within five days, to give the Federal Government’s team the opportunity to conclude its process of paying marketers the full outstanding of N800 billion with the first trench being the amount already approved by the Federal Executive Council.

It said it acted in good faith to avoid unnecessary hardship which could befall Nigerians during the Yuletide, adding that

“We hope that the government would make good its promise to see that those issues are resolved by Friday, December 14, as promised.”

The association said its disengaged personnel would be recalled on Monday and stated that considering the reactivation time or hitherto shut down the system, all depots with fuel stock should be fully active same day.

It said the payment of the debts would curtail the continuing wastage of public funds as interest accruing on the over N800 billion debt.

Nairametrics had reported that DAPPMA directed all its members to shut down operations at midnight of Sunday, December 9, 2018, until the Federal Government pays all the outstanding debt which it owed the marketers.

https://nairametrics.com/dappma-suspends-planned-strike/

Ok, noted

CarlyX8:
existing

CBN ends forex for fertilizer importation, raises concern over banks sharp practice
By
Fikayo Owoeye -
December 11, 2018

The Central Bank of Nigeria (CBN) in a circular ‘Inclusion of some imported goods and services on the list of items not valid for forex in the Nigerian forex market.’ released yesterday has added fertilizer to the list of 41 import items classified as ‘not valid for foreign exchange’ in the Nigerian forex market effective from December 7 2018.

The apex bank however added that it would ensure that transaction (Form M) on fertilizer “for which payments are outstanding are settled at the appropriate settlement dates.”

Recall that on July 1 2015, the apex bank restricted the availability of foreign exchange to 41 items which could be competitively produced within the economy. The policy by the CBN has resulted in massive investment and the establishment of several cottage industries that now engage in the production of the restricted items across the country.

The CBN however raised an alarm over activities of some banks which may erode the benefits and gains of the restriction policy if not nipped in the bud. The apex bank noted that unfortunately, trade information available to it indicated the circumvention of the policy as the restricted items were being dumped in the country.

According to CBN

“The CBN views this development with trepidation. The Economic Intelligence Unit of the bank in collaboration with the Economic and Financial Crimes Commission (EFCC) would commence immediate investigation of the accounts of the corporate and entities engaged in this unwholesome act with a view to visiting severe sanctions on all the culprits.”

“Banks that provided their platforms for such economic abuses would also be appropriately sanctioned.”

It however vowed to impose heavy penalty on financial institutions found culpable. Such sanctions include blacklisting the corporate and their directors; closure of their bank accounts; and restricting them from maintaining any bank account in any bank under the CBN remit.

https://nairametrics.com/cbn-ends-forex-for-fertilizer-importation-raises-concern-over-banks-sharp-practice/

A Nigerian based hacker group, ‘London Blue’ is trying to trick thousands of top executives across the globe into sending them company funds.

In a report by cybersecurity firm, Agari, the ambitious scheme mainly targets Chief Financial Officers via mail and has reportedly compiled a list of 35,000 chief financial officers, including some at the world’s biggest banks and mortgage companies, in a bid to target them with fraudulent requests to transfer money.

It noted that attackers are carrying out increasingly common scam known as business email compromise in which they attempt to pose as a company insider such as the CEO, requesting a money transfer to an outside account.

According to the report

“Targets included companies in a very broad range of sectors from small businesses to the largest multinational corporations”

“Of the ‘London Blue’ hit list, 71% of targets held the title CFO, while the remainder were senior members of finance teams including finance directors, controllers and members of accounting. The majority of targets are based in the US, with remaining targets based in a host of nations including Spain, the UK, Finland, and Egypt.”

How the Group works

The Agari report noted that London Blue group operates like a modern corporation and has people working on business intelligence, sales, email marketing, financial operations and Human resources.

It carries out attacks in multiple languages and has at least 17 collaborators in the United States, United Kingdom and other Western European countries.


Agari said it became aware of London Blue after the group tried to trick the security firm’s own CFO in August.

“we then engaged actively with the attacker, giving us an initial glimpse of the gang that we would widen into a penetrating X-ray.”

Recently, Marriot, an American multinational with diversified investment in the hospitality business and franchises a broad portfolio of hotels, raised an alarm that its guest reservation system has been hacked, potentially exposing the personal information of approximately 500 million guests.

Agari is a leading cybersecurity company, that protects people and businesses against cybercriminals who use false identities to commit fraud, steal information and undermine trust in digital business.

The Agari Email Trust Platform is the industry’s only artificial intelligence (AI) driven defence system that models authentic, trustworthy communications to protect humans from being deceived by cyberattacks such as phishing, ransomware and business email compromise (BEC).

https://nairametrics.com/nigerian-based-hacker-group-london-blue-threatens-cfos/

The Chairman of United Bank for Africa (UBA), Mr Tony Elumelu, has been in good spirits lately. And it’s not hard to see why this is the case. As an accomplished businessman as well as a proven philanthropist, he has every reason to feel good with himself.

Therefore, whether he is sharing Instagram pictures of himself working out, hanging out with his billionaire friends and global leaders, or at movie premiers, he’s always made it very known that he is currently at a really good place in his life.

Now, Mr Elumelu is also hanging out with young professionals and giving them important pointers to accomplishing success in life.

In a recently shared lengthy post, he said he hung out with five outstanding and young bankers, rubbing minds with them on a whole lot of issues ranging from family, career, and the Nigerian economy.

“It was so much fun to share stories and trade perspectives with them, while gaining insights and useful suggestions from their experiences working with us. In order to build to last, an organisation must cultivate systems and feedback mechanisms to encourage this type of dialogue. Open, frank discussions to listen, learn, inform, engage and educate.” – Elumelu

Writing further, Mr Elumelu said he had to answer questions that were asked by the young bankers. These questions bothered around childhood, early banking days, his family, faith, exercise routine, and more.

He also gave them very important career tips. These important tips he felt compelled to share publicly because it will most definitely benefit people. So here we go – Mr Elumelu’s career tips just for you.



View this post on Instagram

#TOEWAY: 5 Tips for Young Professionals . Still in a great mood from the UBA #RedTv rave over the weekend, I spent my Monday with five outstanding young men and women – Daniel, Ifenlota, Francess, Olaoluwa and Nnamdi from the United Bank for Africa. I’d like to think of them as part of the next generation of young leaders at the bank. Throughout our informal session and our open conversation over lunch, I listened to them talk about themselves, their families, their careers and ambitions, and some of their concerns as young people in today’s Nigeria. We spoke about work, the economy, their futures and even migration overseas! Lol. It was so much fun to share stories and trade perspectives with them, while gaining insights and useful suggestions from their experiences working with us. In order to build to last, an organisation must cultivate systems and feedback mechanisms to encourage this type of dialogue. Open, frank discussions to listen, learn, inform, engage and educate. As I answered their questions around my childhood, my days as a young banker, the merger experience between STB and UBA, and how I balance work, family, faith, exercise and my love-hate relationship with food (lol), I recognised in their eager faces myself thirty years ago, keen on beginning my career and buying my very first car. . Read more of this honest and open conversation with these outstanding @ubagroup professionals. . link in my bio #Africapitalism #entrepreneurship #AfricasGlobalBank #UBAGroup

A post shared by Tony O. Elumelu (@tonyoelumelu) on Dec 5, 2018 at 4:41am PST

You need to start out right

For him, young professionals should always ensure to start out their careers working in well-structured organisations that offer them immense learning growth opportunities. Such work environments should be able to inculcate needful work ethics and skills.

Now, while this is very necessary, it is important that not every young professional gets this opportunity. This is because such well-rounded work environments are very scarce in Nigeria.
Your dreams as a young professional are valid

This couldn’t be truer than true. After all, everyone wants to accomplish more set goals and be successful. Even Mr Elumelu himself was, at one point in his life, desirous of the time in his life when he would “finally earn my first N100,000.” Today, he is worth billions upon billions.

But he worked hard because dreams alone cannot get you what you want. Therefore, young professionals must be willing to put in the work in order to actualise their dreams.
Strive to be the best version of yourself

Mr Elumelu said young professionals should constantly upgrade themselves by making use of the numerous resources available to them, including the internet. According to him, the digitised nature of our world today makes it easy for young people to access information.
People management is highly important

Whether you are starting out as an entrepreneur or as an employee, Mr Elumelu said it is essential for young professionals to make people management a priority. This is because as an entrepreneur, the difference between the success or failure of your business can be dependent on how well you are able to hire and treat your staff. Therefore, it is important for young entrepreneurs to properly relate with those who work for them. After all, there is a good reason why there is a saying that the workforce is any organisation’s best asset.

In the same vein, young professionals must endeavour to understudy those above them. There is no better way to become an expert other than learning from the best.
He said you don’t have to emigrate from Nigeria

While many young people may disagree with him on this one, read this perspective first in his own words:

“You don’t have to check out, to travel out of the country to become successful. I hear of many young people traveling abroad as a way to escape the economic challenges. What I often say to them is that yes, challenges are real on the continent, but so are the opportunities. Of course, I did not always think so. As a young teenager, I also wanted to ‘checkout’ to America in pursuit of what was sold to us as the better life. Luckily for me, but unluckily for me at the time, my parents could not afford it. That seeming lack of opportunity opened me up to a future in Africa that I could not have had anywhere else. This is not to say there is anything wrong with aspiring to live abroad or relocating for studies, but never forget that there are immense opportunities available to you right here on the continent. If someone like me, from an ordinary background could make it, what makes you think you can’t?”

https://nairametrics.com/tony-elumelu-gives-5-important-career-tips-to-young-professionals/

JomoGbomo1Akpos:
No be lie you talk o

Them don turn Nairaland to another thing.

If this kain topic nor reach FP wetin Seun gain?

Ogini mwikegban (E really rust).

Like seriously, the kind of topics on FP are very annoying.

Some don't have links sef.

Both

michlins:
proposed or existing?

olaade21:
Those stupid Christians won’t say it’s their religion now. If it was the North, you would have seen them salivating all over this thread.
Children of Hate.

Did they should Allahu Akbar before killing those people? Were they fighting over or in the name of a pedophilia prophet?

NCC HQTRS

Why the NCC is suspending the allocation of 5G frequency

Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Danbatta, yesterday disclosed that the Commission is suspending these potential frequency spectrum allocations for 5G services- 26GHz, 38Ghz and 42Ghz bands.

None of these frequency spectrums have been approved by the International Telecommunications Union (ITU) at the moment. But the possibility of that happening abounds.
Why the decision?

According to Professor Danbatta who was represented at a stakeholder consultative forum in Abuja, the decision to suspend the frequency allocation became necessary as a way to forestall any encumbrance that may arise when the frequencies are eventually assigned by the ITU.

“The commission has identified some of the potential frequency bands that may be harmonised for 5G deployment in region one and therefore suspended the licensing of those frequencies.

“This step will ensure that Nigeria is not caught unawares when those frequency bands are harmonised by standardisation bodies. Key among these bands are 26Ghz, 38Ghz and 42Ghz bands.” -Danbatta

Speaking further, Mr Danbatta said that the number of people using mobile phones have continually been on the increase and is projected to reach six billion according to research data from GSMA.

In Nigeria alone, there are about 106 million active internet subscribers as at September 2018, he said.

Manwhile, in a related development McKinsey Global estimates “that over 75 billion devices will be connected to the Internet by the year 2025, with global economic contribution ranging from $3.9 to $11.1tn annually.”


In light of these developments, therefore, the NCC boss urged stakeholders to work towards maximising the opportunities presented by these technologies.

“As such, all stakeholders are challenged to help develop smarter and efficient ways of utilising the already limited available resources in order to maximise the gains of these technologies.”

The Nigerian Communications Commission is the regulatory authority in charge of Nigeria’s telecommunications sector. It is based in Abuja, and has the responsibility for providing favourable competition among telecoms operators.

Source: https://nairametrics.com/why-the-nigeria-communications-commission-is-suspending-the-allocation-of-5g-frequency/

jesutakewe:
Maybe I might be the first buyer.

Since there's no snake in the topic,

I won't be surprised if this doesn't make FP.

The stewpeed MODS didn't even disappoint me, they didn't even bother to prove me wrong.

When nonsense and useless topics are making FP, this one didn't.

Nairaland don Mwikegban (rust in Urhobo language).

Na lie o. Atleast nowadays technology is hitting Nigeria same thing its launched worldwide. infact NCC is already deliberating on allocating 5G frequencies to providers.

Mikee7:
Lmao its going to take at least 4 years before we'd be able to use this 5G in Nigeria and only in few parts of the country

Makes sense. I've ordered for Nokia 1 Oreo Android 8.1 already.

ATleast there's 8.1 in the name.

Maybe I might be the first buyer.

Since there's no snake in the topic,

I won't be surprised if this doesn't make FP.