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 Education / Re: An Eye Opener On The Newly Approved Grading System By The Nuc For Universities by Oladimeji07(m): 3:46am On Dec 29, 2017 |
OrestesDante: I disagree. We are not creating problems for ourselves. I would implore you to read the last paragraph carefully. |
| Education / Re: An Eye Opener On The Newly Approved Grading System By The Nuc For Universities by Oladimeji07(m): 8:15pm On Dec 28, 2017 |
OrestesDante: Brother.... Reason the other way... Look at the positives |
| Politics / Re: The Nigerian Political Arena And Its Unending Fallacies by Oladimeji07(m): 7:39pm On Dec 11, 2017 |
Hedriz: |
| Education / Sukuk Bond; A Viable Instrument For Infrastructural Development by Oladimeji07(m): 5:45am On Oct 03, 2017 |
SUKUK BOND; A VIABLE INSTRUMENT FOR INFRASTRUCTURAL DEVELOPMENT By; ALAWIYE SEMIU It is the philosophy of every business to minimize risk and maximize profit, this makes it incumbent on it to device a way of achieving this great mission. Sukuk bond is now a word in the sphere of the country flying around with rigorous debate and misconception of its meaning which is disconcerting its introduction in to financial market of Nigeria. The word sukuk bond in the realm of business means nothing, but, a financial instrument certificate, similar to a bond in western finance that complies with Sharia-Islamic law which negates the idea of interest in business transaction. It also represent aggregate and undivided share of ownership in a tangible assets as it relates to a specific project or specific investment activity. An investor in a sukuk therefore does not own a debt obligation owned by bond issuer, but instead owns a piece of the asset that linked to the investment. This means that the sukuk bond holder, unlike bond holder, receive a portion of the earning generated by the associated asset. Besides, sukuk have become extremely popular since 2000, when the first sukuk was issued by Malaysia, Bahrain followed suit in 2001, and other Africa country including South Africa and Kenya. In the case of Nigeria, Osun State has been the first to issue sukuk bond from a major economy in sub-sahara Africa. Since Sukuk bond is about two things, one is raising money and deepening the financial market, there is nothing wrong with current action and pronouncement of government in issuing N100bn sukuk bond just to aid good infrastructure like road development , building of School , health service and provison of social amenities. Because of lack of debt financing as a phenomena hindering the survival of businesses in western world, sukuk were created in order to link the return and cashflow of debt financing to a specific asset being purchased effectively distributing the benefit of the asset. The imprecision news spreading about sukuk bond that the present government is trying to islamise Nigeria is unrealistic due to the statement made by Minister of Finance ( Kemi Adeosun) : “ … this particular bond of N100bn is going to be used for road project we identified the road project that is going to be tied to and there is no religious affair there. So, there is no Islam affairs at all”. It is pertinent to understand that Nigeria plan to issue this bond about six years ago, long before the current administration came into power and even to justify the interest of many Nigerian it was recorded that this bond have gained great subscribers in the financial market because of its worthy characteristics as a bond lacking interest repayment but profit is shared at par between the borrower and the lender. In conclusion, this is a good initiative by government to foster project development that can bring about growth of businesses, good governance and better life for the populace. Every Nigerian should be expecting more of this development from government as profit is not religious or sentimental based but ability to harness every opportunity available prudently. Writer; ALAWIYE SEMIU LAGOS STATE UNIVERISTY ACCOUNTING DEPT. *©Excel Minds* 1 Like |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 3:35am On Sep 24, 2017 |
Sentiments aside. We need each other to grow. |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 10:25pm On Sep 23, 2017 |
A united Nigeria is very much ideal. |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 5:07pm On Sep 23, 2017 |
.. |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 1:57pm On Sep 23, 2017 |
Yes |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 6:19am On Sep 23, 2017 |
BALLOSKI: Yes. His death was not pertaining to the war |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 2:23am On Sep 23, 2017 |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 10:19pm On Sep 22, 2017 |
BALLOSKI:great comment. |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 9:49pm On Sep 22, 2017 |
. |
| Politics / Re: Nigeria Vs Biafra; A Dicey Game by Oladimeji07(m): 9:45pm On Sep 22, 2017 |
Great piece. |
| Education / FINANCIAL Shenanigans(an Object Of Economic Decrement) by Oladimeji07(m): 9:05pm On Sep 19, 2017 |
FINANCIAL SHENANIGAN: (An Object of Economic Decrement) By; Alawiye Semiu Fraud has been a social cancer deeply rooted into the fabric of human, especially in the case of a state like Nigeria where its atmosphere is congested with lack of transparency and likewise its financial system embellished with misappropriation. Government in this respect reported the issue of “ Ghost Workers” receiving salaries at which over 200billion were recovered into the treasury account. The question is this; is there no proper cash control system put in place? Is there no ministry or department in government in charge of cash where such activity occur. This could be seen as a result of misappropriation of funds within government agency that handle cash and due to the lack of internal control which place the whole system into crime where employee, vendors, or even former officer who know the modus operandi of the environment would perpetrate and may have access to the system. It is high time the accounting professional bodies save the nation from shameful act which abject the people into poverty and cause downfall of the economy. Looking inwardly to the meaning of fraud, fraud is nothing but misappropriation of financial information in which a person in a position of trust and responsibility is defiance of prescribed norms, breaks the rule to advance his personal interest at the expense of the public interest he has been entrusted to guard and promote. Though, it is difficult to stop fraudulent activity in the society where the system is lacking internal control, segregation of duties or manipulation of account by top officers but yet, a measure could be placed to minimize its risk. Firstly, there should be good cash handling procedure routinely audited and to ensure that they are being followed consistently. Secondly, is providing cash handling training to department staff and even where applicable adherence to cash handling procedure could be included as part of staff’s annual performance review which will allow the recognition of those that follow policies as laid down and at which employee or officer handling cash is accountable for misconduct. Besides, there could be physical security where by individual handling cash seat in an area with camera coverage, this will monitor the affairs of the officer in-charge of cash. Moreover, risk management and governance could be another measure to detect fraud by understanding the control environment and consequence should be taken if cash is stolen. Understanding how, where, when cash is collected and duties performed by each employee are imperative when designing internal control that can provide reasonable assurance that significant theft of cash and record-keeping error will be prevented or mitigated. Therefore, every society should put in place internal checks and an efficient internal control system so as to reduce the risk of financial shenanigan as it is an object of economic decrements. Writer: Alawiye Semiu Lagos State University ©Excel Minds |
| Education / Re: The Saddening Collapse Of Education In Nigeria by Oladimeji07(m): 3:15am On Sep 17, 2017 |
Lovely. 3 Likes |
| Education / Re: The Saddening Collapse Of Education In Nigeria by Oladimeji07(m): 3:12am On Sep 17, 2017 |
Great comment. Very lucid submission. Thank you for that observation. |
| Education / Tackling Unemployment And Youth Involvement In Cybercrime by Oladimeji07(m): 7:09am On Sep 16, 2017 |
TACKLING UNEMPLOYMENT AND YOUTH INVOLVEMENT IN CYBERCRIME BY; Shotunde Oladimeji Student; LAGOS STATE UNIVERSITY Every country across the globe has its own challenges and shortcomings; Nigeria is definitely not an exception. Unemployment remains a puzzle which the government as well as the youths have failed to proffer solution to. It has been on the rise despite the abundant human and natural resources available to the Nigerian state. Cybercrime, on the other hand, has been on the rise since global technological advancement. Technology has integrated nations and the world has become a global village. However, technology and advancement in technology remains a double-edged sword. It brought about two edge functions; one is the positive impart it has had on the populace and the other is the fatal detestable implications it has had on the Nigerian populace. The effects of technology remains lethal on a larger fraction of the Nigerian populace. Unemployment is a state of joblessness in an economy; characterised by limited availability of jobs for the employable population. It is pertinent at this point to note that the Nigerian youth constitute about 60% of the total population (According to the National Bureau of Statistics). This means that they make up the larger part of the dependency ratio. Cybercrime and Unemployment are very much related. Halder and Jalshankar(2011) define Cybercrime as: Offences that are committed against individuals or groups of individuals, with a criminal motive to intentionally harm the reputation of the victim or cause physical or mental harm to the victim using the internet. Cybercrime can come in the form of Cyber terrorism, Fraud-Identity theft, Malware and the likes. Cybercrime can be correlated with high rate of unemployment. Research has shown that many youths involve in Cybercrime because they have no jobs. According to the National Bureau of Statistics, Nigeria is saddled with about 25 million unemployed people. To further worsen the situation, there are about 2.5 million new entrants into the sad realm of the unemployed annually. In tackling this menace, which i regard as bothersome, effective and expedient solutions need to be proffered. Before discussing on how to tackle this oddity, I must not fail to highlight what has led to their increasing dominance over the years. In the case of unemployment, poor educational system has had a large bearing on the graduates churned out in recent times, as they are positioned to be job seekers and not job creators. Government maladministration cannot and should not be ignored also. In the case of cybercrime, urbanization, unemployment, negative role models and the desire to live flamboyant lifestyles have all influenced its rise. In tackling unemployment, government will play a pivotal role. Just recently, the National Directorate of Employment (NDE) said: "For unemployment to be effectively tackled, innovative programmes and schemes must be regularly injected into the economy through skills that are demand driven, specific and community based". This statement depicts that the NDE is in support of the practice of entrepreneurship which, until recently, has not been encouraged in Nigeria. The good news is that higher institutions of learning have made the study of entrepreneurship a compulsory course for all students to undertake. Also, we should reduce occupational immobility. Immobility is a cause of structural unemployment. We should engage in apprenticeship schemes which would provide youths with new skills to find fresh employment. Furthermore, government should create an enabling and business friendly environment for industries to thrive; this would greatly help to reduce unemployment as a lot of industries would spring up and a huge number of graduates would be entrenched and absorbed in the system. In furtherance, *government should employ techniques to control our population growth through public enlightenment campaigns/programmes.* Germane! In the case of cybercrime, we know it cannot be easily eradicated but it can be minimized. To do this, efforts will be required by all stake holders (Government and Private Sector). There should be well equipped technological security systems, strident laws should be promulgated and appropriate punishment should be made to serve as a deterrent to the public. Individuals themselves should abstain clear. It is a collective thing! Conclusion; For Nigeria to serve as a fertile ground for economic activities, it must be premised on an enabling workforce and crime free society. But an ideal economy is virtually impossible. The future of our economy lies in our hands. We must learn to start doing things the right way. By not following the points highlighted in the concluding part of this writeup doggedly, we might have a very bleak future to look forward to. Thanks for reading. Shotunde Oladimeji ©Excel Minds
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| Education / Nigeria Finally Out Of Recession? by Oladimeji07(m): 2:55pm On Sep 11, 2017 |
NIGERIA FINALLY OUT OF RECESSION? IS THAT TRUE ? The present situation of Nigeria economy has surgically subjects the pen of many economists in devising a recipes to the injury suffered by Nigerians in the state of her economy. This has also open mind to criticism, venture thinking faculty to push the debate forward and provoke the result released on the GDP (0.55 percent) as Nigeria was said to be out of recession. The question to be asked is that, is it true we are really of recession? While currently, we are still clamoring and struggling on how to make our daily bread. In fact, Nigeria, whether out of recession or not, it is a phenomenon on the sphere of the country that Nigeria is always encountering increase in prices of commodities, rise in unemployment, insecurity, and unstable system of education, yet government proclaimed that we are out of recession. Ambiguously, the statement affirmed should be seen by Nigerians as a mere statistical figure unrealistic to rely on since it is still lacking favourable reflection on the standard of living. Furthermore, it could be better if government can navigate her resources on the agricultural sector, reduce recurrent expenditure so as to encourage our home made products. Besides, the capital expenditure should also be considered as a yardstick to yield good infrastructure and project development which can invariably create new jobs. Dear colleagues, the tears of our pen should not be retained for keeping the discuss moving so that we could be able to drive the vehicle of our country to the promise land. SEMIU ALAWIYE *©Excel Alliance* 2 Likes 1 Share |
| Education / The Saddening Collapse Of Education In Nigeria by Oladimeji07(m): 1:36pm On Sep 10, 2017 |
THE SADDENING COLLAPSE OF EDUCATION IN NIGERIA BY; SHOTUNDE OLADIMEJI Student; LAGOS STATE UNIVERSITY. Nigeria as we all know is a developing nation and a budding country in Africa. It is seen as a country having a lot of potentials to execute and deliver key projects that would help promote and project Africa in good light. It is pathetic and disturbing however, to note that the leaders are the one serving as a bottleneck in the actualization of that dream. The government, both past and current, have shown and displayed high scale corruption, lackadaisical attitude to work and have displayed nonchalant and unsympathetic attitude to issues affecting the masses which they claim to govern. It is from the foregoing that brought about the sudden or should i say outright decay in the educational sector. If at all a sector should be so destabilized, should it be the educational sector? A sector that stimulates critical thinking which in turn birth innovation that eventually lead to the much needed growth and development. The educational sector has derailed from a once budding sector in the late 20th century to a sector often characterized by pandemonium, seen as unstable and confused with turmoil. The Universities, Polytechnics and Colleges of Education are grossly underfunded resulting in a proportional decrease in the quality of teaching and service delivery which has in turn had a consequential effect on the graduates emanating from the system. To make matters worse, the Joint Admission and Matriculation Board, (JAMB) made cutoffs for higher institutions 120 which they claim is to serve as a benchmark, but from my analysis, 120 out of the total 400 marks obtainable in JAMB is just 30%. Wow!. In a University setting, having a score of 30/100 in an examination would be regarded as an outright failure (Carryover) and considering the fact that 30% is way below the 45% usually used as a pass mark in most Nigerian Universities. Is the system not tolerating mediocrity? To further compound the problem, Nigerian secondary schools are hell bent on ensuring that candidates that sit for their SSCE examinations in their centers pass in flying colours aimed at fetching goodwill to them, all because of money. Greed! (Exchanging the future for monetary benefits). Don't you think we have a long way to go? We claim our leaders are corrupt but we have forgotten that we ourselves have taken corruption as a way of life (culture). To further aggravate the challenge, the National Association of Nigerian Students (NANS), a body expected to fight for the interest of the students and constantly orientate our leaders have become so politicised, riotous, factionalized and lacking direction all because of monetary incentives given by politicians. This is where the youths have failed. Gone are the days! Nigeria is structured in such a way that the ruling class will continue ruling and the proletariat will continue serving. Most policies are formulated to favour the rich. I read about the "Not Too Young To Run" bill and posited through my personal conviction that it was passed to favour some certain categories of people who i won't mention. I won't dwell much on that. Research, which happens to be the framework with which a University operate has been non existent in some institutions. The system, no doubt is grossly underfunded. The Nigerian government seem not to realize that through undertaking quality research, a solution can be proffered to help ameliorate or possibly solve the nation's economic problems. I wonder at times, why the government can't use the funds recovered from treasury looters to properly fund the educational sector. I am sure they travel often and can see what is obtainable in other countries of the world. My submission; Not until we start seeing education as a critical and germane component of developing a nation; not until our leaders begin to realize that posterity will judge them all; not until we begin to concentrate resources in the appropriate channels; not until the students themselves standup to challenge maladjusted acts and negligence on the part of government; not until we stop playing petty politics with education and by extension the future of Nigeria, the buoyant future we envisage/crave for Nigeria might not be actualized. Thanks for reading. Shotunde Oladimeji 1 Like 2 Shares
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