₦airaland Forum

naijaking1:
Listen to yourself: "This man always likes to assume the position of political godfather out of greed."
That shows your hopeless bias against the senator

That's the truth. We have known Ekweremadu for the upwards of 20 years and above. We knew him when he was just a charge and bail lawyer in Enugu. So, we cannot just lie against him.

naijaking1:
Liar, liar, liar!
Mr. Techno, you should be ashamed of these lies of yours. Are you SKC Ogbonnaya?
You know that renegade distant brother of Ekweremadu whose fratricidal tendencies have almost pushed him into an asylum?

Please, which lie did Tectono Business Review tell?

Those people that are of the opinion that the fight between the governor of Enugu State, Sullivan Chime and the deputy senate president, Ike Ekweremadu over who will represent Enugu West Senatorial District come 2015 will continue should bury their heads in shame. This is because the two top political gladiators in Enugu have finally resolved their differences.

Tectono Business Review gathered, at the weekend, that Chime and Ekweremmadu resolved their differences, which almost tore the Enugu PDP apart in a highbrow meeting presided over by President Goodluck Jonathan. It was Ekweremadu that reported the case to President Jonathan and made his return to the senate as a precondition for supporting his (Jonathan’s) presidential re-election bid.

During the meeting, President Goodluck Jonathan prevailed on Gov. Chime to allow Ekweremadu to return to the senate come 2015 while he (Chime) will still remain the godfather and kingmaker of Enugu politics. The question here is will Ekweremadu allow Chime to be the kingmaker of Enugu politics without his interference?

At the end of the meeting, Gov. Chime, who initially wanted to replace Ekweremmadu at the Senate, sacrificed his ambition but agreed to control the structure that would produce his successor, Senators of Enugu North and East and other elective officers of the state.

Tectono Business Review envisages another power tussle between Chime and Ekweremadu when Hon. Ifeanyi Ugwuanyi eventually becomes the governor. This is because we have studies Ekweremadu very well and can predict his moves. We knew him even before he became the chairman of Aninri LGA. This man always likes to assume the position of political godfather out of greed.

By our calculation, Ike Ekweremadu would like to be the person that will recommend an Enugu indigene to President Jonathan for ministerial and ambassadorial appointments. He would like to select who will become commissioners, special advertisers, special assistants, chief of staff, secretary to state government etc. He would also like the major construction contracts in Enugu to be awarded to him companies.

It is Ekweremadu’s tradition to extort money every month from anybody he recommends for political appointment. When he was the Secretary to Enugu State Government under Dr. Chimaroke’s administration, all the local government transition chairmen from Enugu West Senatorial District and other political appointees that he recommended to Dr. Nnamani paid him not less than 5 million naira every month. Well, let’s wait and see what happens.

From: http://tectono..com/

This is Tectono Business Review, a platform where politics and business are reviewed. This is our site: http://tectono..com/

THE ARCHITECT AS STRATEGIC DRIVER ~ DR. JIMOH IBRAHIM
If the ‘general as a strategist’ does not have a market, could it be said that the architect had no plan for the general, or that the ‘general as a strategist’ did not follow the plan of the architect? Who is the architect in a business environment? There is no doubt that it is the management. But what is their corporate plan or goal? How do they arrive at the strategic road map of the corporation?

One thing that is certain is that the architect may have a plan, but the general may not follow the plan of the architect. In some situations, the general may approve the plan and then set it aside and run the corporation ‘as the spirit directs.’ Normally, the architect will draw the organisation’s plan in accordance with the instruction given to him by the general. And if the general has no specific instruction as to where the market is or about which of the markets he intends to operate in, then the plan may not take into consideration issues relating to the market, since there is no information from the general.

In any organisation, this scenario leads to no result or at best, some sort of incomplete result. Regrettably, this situation can be likened to taking solders to the war front without a comprehensive plan of where to launch attack, or without adequate knowledge of the geomorphology of the enemy’s location. If they do not know the territory of the enemy, it is either the enemy kills them one after the other or, like the Americans in the Vietnam War, they may lose all their weapons. This situation is equivalent to a corporation starting well but not ending very well, if they even end at all. This calls for great concern.

In most cases, less than one percent of companies incorporated by the Corporate Affairs Commission in Nigeria remain in operation every ten years! Put another way, less than half percent of incorporated companies operate for twenty five years. Or less than one quarter of incorporated companies operate for fifty years. And it is still in doubt if any company incorporated in Nigeria has ever operated for one hundred years of our centenary celebrations!!

The role of the architect who designs the corporation which does not last for ten years calls for concern. There is no doubt that a poorly designed building will not stand the test of time. The need for key players in management science to do a rethink in incorporating the role of the ‘architect as a strategist’ in any organisation is key and vital to the continuity of the corporation.

If roles are already created for the ‘architect as a strategist,’ the need to comply with the instruction and directive of the architect calls for concern. Today, managers run corporations ‘as the spirit directs,’ so to say. Operational manuals are created and used like photo albums. If otherwise, what will explain or justify a CEO signing the application for disbursement of loan first, without the risk officer seeing the application? When the CEO has signed the approval sheet, what can the risk officer do to disapprove?

This explains the collapse of the building at The Synagogue, originally designed by the architect for three floors, which was raised to six floors. At the end, the building collapsed, killing over a hundred people. Tens of millions have died in corporate Nigeria due to total disregard for the directive of the ‘architect as a strategic driver.’

A rich man once instructed a bank manager to open his bank on Sunday around midnight during his campaign. The manager opened the bank at that ungodly hour for the rich man to make his cash withdrawal. In such a situation, where is the manual of operation?

In the days of Air Nigeria, I once opted to travel with the airline from Abuja to Lagos. I bought an economy class ticket to enable me assess the quality of services the airline offered to the public. Boarding completed, the pilot secured the start-up engine, got approval for take-off from the control tower, and we commenced our approach for take-off.
The pilot was expected to brief us about the weather condition and flight details after the seat belt signs had been put off. But the pilot greatly embarrassed me by starting off, saying, ‘I am happy to welcome on board my chairman, Barrister Jimoh Ibrahim ….’ This was not how the manual of operations directed the pilot to commence flight operations. It was a great disappointment to me, for a pilot to deliberately violate the operational manual designed to secure safety of passage by the architect. In a competitive industry, the airline can lose market shares as many passengers may not take the airline serious and customer referral would create more damage.

The strategic road maps of many organisations, as designed by the ‘architect as strategic driver,’ are, in most cases, done in great detail. But the major problem is compliance with the manual of operation. A CEO in one of our companies once sacked a junior member of staff for consistently creating mechanical problems in the distribution van in a bid to fraudulently make money from the company. The sacked junior staffer petitioned the GMD’s office. The GMD asked the CEO to recall the staffer immediately, since he was not given a query in the first instance. For the GMD, this was a painful decision to take. But the issue is: What does the manual of operation say if a staff member is to be sacked?

The protocol is simple: Issue a query; get a response; the administration department refers the matter to the company secretary and the later refers the case to the disciplinary committee, who will now mete out appropriate punishment if the staffer is guilty.
Disciplinary measures could be in any of the following ways: Refer matter to the police if it is criminal in nature and put staffer on suspension while investigation is on. And if that is not the case, issue a warning letter, suspend from office for a specific period; advise staffer to resign or resort to outright termination or dismissal.

The question is: how many CEOs are ready to comply with this simple instruction of the company’s manual of operation when it comes to matters relating to junior members of staff? In all situations, compliance with the manual of operation of a company is the fuel that drives a corporation. And once you are running a corporation with disregard for the operation manual, the implication is that you are running a car without fuel. If a leader mixes up the operational manual with ‘as the spirit directs’ approach to management, it simply means you are running a car with a mixture of petrol and water in the engine. It will be hard for you to drive the corporate car in that situation. You may have to be the mechanic that would do the separation of the mixture!

The strategic architect also designs the road map of the organisation. Issues as to when investments are made and when to disinvest are in the plan. This approach is to regulate the movement and direction that will assist growth and sustain cash flow of the organisation. In practice, CEO will not follow the instructions of the manual of operation in this direction. To the CEO, divestment can only happen when the company is in trouble. I find it very difficult to understand why a divestment from property is not done when the property value is at the highest peak, invest the proceeds in cash investment and buy more properties from the cash when the price is low. In practice, we sell properties when the price is so low. We look for buyers that we cannot find! We suffer cash flow to hang the company. Incredible!

Many times, the company’s investment manual will explain when to do more investment to avoid over-investment that can be obsessive, which usually results in major decline in business. But we never follow the manual. We could just wake up one day and say: ‘We need to set up ten universities across African countries (praise God), even when the cash flow is putting us in a difficult position when it’s time to pay appropriate salary in the companies we have. Or if it is a bank, we may decide to open one hundred additional branches in two years for aggressive marketing, when the branches we have cannot break even. Or, for instance, in a newspaper, we may decide to install more machines or increase the print run when our unsold is 30 percent. The right approach is to return to the investment manual or develop investment manual if you do not have one. The architect as strategic driver will assist greatly in this instance.


http://tectono..com/2014/11/the-architect-as-strategic-driver-dr.html

ABIA 2015: SIR MARC WABARA FINALLY PICKS GOVERNORSHIP NOMINATION FORM

Those confused Abia politicians that are of the opinion that Sir Marc Wabara is not serious about his governorship ambition should go and hide their faces in shame. This because the foremost banker, Sir Marc Wabara, has picked both the expression of interest and governorship nomination forms from the Peoples Democratic Party headquarters in Abuja.

Tectono Business Review gathered that the erstwhile CEO of the defunct Hallmark Bank, accompanied by Abia youths, women and other party faithful, was received by PDP’s Deputy National Organising Secretary, Chief Okey Nnaedozie; the Political Adviser, Office of the National Organising Secretary, Chris Iroegbu and the Deputy National Legal Adviser, Alhaji Bashir Maidugu.

A statement by the Wabara Campaign Organisation quoted Nnaedozie as assuring Sir Wabara that the PDP leadership would conduct transparent and acceptable primaries to elect candidates for the governorship election in the 36 states of the federation.

Responding, the banking and finance colossus noted that having been a member of the PDP since 1999, he was fully conversant with the manifesto of the party and the Transformation Agenda of the Goodluck Jonathan administration.

“Having consulted widely, I have come to the conclusion that there is no better time than now to place my exposure and experience to the benefit of Abians,” he said in the statement made available on Wednesday.

Tectono Business Review has always advocated for technocrats like Sir Wabara holding political offices in Nigeria instead of career politicians. We wish Sir Marc Wabara all the best as he prepares for the PDP primary election.

http://tectono..com/2014/11/abia-2015-sir-marc-wabara-finally-picks.html

If the speaker had not gone against the governor, He (governor) would have recommended him for ministerial appointment.

Tambuwal's case is quite different from this one.

ENUGU 2015: UNGRATEFUL SPEAKER ADJOURNS PLENARY TILL DECEMBER TO ESCAPE IMPEACHMENT
Tectono Business Review appeals to anyone who is very close to the Speaker of the Enugu State House of Assembly, Rt. Hon. Eugene Odo, to educate him that it is stupid and unintelligent for him to start a war he is very sure of losing. What kind of human being is this? He wasted the sum of 11 million naira, which can start medium scale businesses for at least 20 unemployed graduates in his constituency, in the purchase of governorship nomination form and expression of interest.

Tectono Business Review gathered that there is a renewed impeachment move against the ungrateful speaker who had been in office since the inception of Sullivan Chime administration in 2007. This move is connected with his (Odo’s) insistence to contest the 2015 governorship election against the governor’s preferred candidate, Hon. Ifeanyi Ugwuanyi. The question is how does Hon. Odo think that he will win PDP primary election when Gov. Chime is in control of the party’s machineries? Even if he defects to another political party, he will fail woefully. So, how does he intend to realize his governorship ambition without the support of his state government?

A few weeks ago, Governor Chime and some stakeholders of the party from Enugu North senatorial zone where the Peoples Democratic Party (PDP) zoned the governorship slot, had earlier adopted Hon. Ugwuanyi as consensus candidate.

Thereafter, Hon. Odo and three other governorship aspirants like Senator Ayogu Eze, Chief Chinedu Onu, Evangelist Sam Onyishi and Chief Anayo Onwuegbu insisted on remaining in the race. To give effect to his position, Hon. Odo had last week purchased the expression of interest and nomination forms of the party, which he had since filled and returned to contest the election, a development the governor and his supporters allegedly viewed as disloyalty to the government.

Imagine Chinedu Onu whose campaign to be the chairman of Udenu LGA was bankrolled by Hon. Ifeanyi Ugwuanyi contesting against him (Ugwuanyi). He is a paradigm of ungratefulness. Chinedu Onu became a commissioner under Dr. Chimaroke Nnamani’s administration on Hon. Ifeanyi Ugwuanyi’s recommendation.

Tectono Business Review gathered that the governor, uncomfortable with the insistence of the Speaker to run against his interest, mobilized his loyalists at the State Assembly to raise impeachable offences against him (Odo).

In order to scuttle the impeachment process, Hon. Odo, on Tuesday, tactically adjourned sitting of the House till the 2nd of December on the guise that the adjournment was to enable members participate effectively in the party’s delegates election.

An anonymous senior staff of the House of Assembly was quoted as saying that “The impeachment threat is real. There is serious mobilization going on among the members, especially among principal officers of the House”.

Let us watch out and see how Hon. Eugene Odoh will weather storm. Anybody who is close to him should advise him to drop him governorship ambition and apologize to Gov. Chime. He knows that he is neither acceptable nor electable. So, why is he getting himself entangled in this trouble? Apparently, he is about to go into political oblivion. This is Tectono’s advice. Enugu politicians, what do you think?

http://tectono..com/2014/11/enugu-2015-ungrateful-speaker-adjourns.html

charix:
To most people this is good news but to me it is really sad.
There is no way this man's group of companies would have flourished unabated if monopoly was truly discouraged.

By the way OP, what position is Mo Ibrahim?

Thanks for your comment. Are talking about Jimoh Ibrahim?

DANGOTE IS NOW MORE THAN 5 TIMES RICHER THAN ADENUGA, EMERGES WORLD’S 23RD RICHEST MAN
Tectono Business Review has gathered that the Chairman of Dangote Group of Companies, Alhaji Aliko Dangote, has moved 20 spots from his earlier position of the 43rd richest person in the world to the 23rd position, thereby consolidating his earlier rating as the richest man in Africa, according to Forbes magazine.

This multibillionaire, who has interests in cement, sugar, flour and beverages, is now worth $25bn and is also the first black man to be named among the 25 richest people in the world, according to the magazine.

The owner of indigenous telecoms company, Globacom, Chief Mike Adenuga, was the next Nigerian on the list, with a wealth of $4.6bn, maintaining the 325th position in the world. It is now obvious that Aliko Dangote is now more than 5 times richer than Mike Adenuga. Folorunsho Alakija, with $2.5bn is now 687th in the world, and Abdulsamad Rabiu in the 1,372th position in the world, with $1.2bn.

American billionaire, Bill Gates, reclaimed the title of world’s richest person from telecoms mogul, Carlos Slim Helu, of Mexico after four years. Gates, according to Forbes, raked in extra $9bnin the last one year and has been at the top of the list for 15 of the past 20 years.

Spanish clothing retailer, Amancio Ortega (best known for the Zara fashion chain) retains the number three spot for the second year in a row, extending his lead over Warren Buffett, who is again number four. Dangote has also been named the world’s 68th most powerful person.
http://tectono..com/2014/11/dangote-is-now-more-than-5-times-richer.html

Infohelp:
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WHAT ECONOMISTS KNOW THAT MANAGERS DON’T (AND VICE VERSA) ~ HARVARD BUSINESS REVIEW


Why did Jean Tirole win the Nobel Prize in Economics? Not for the highly-regarded work on competition between small numbers of firms with which his career began more than thirty years ago but for more recent work on how carefully structured regulation can improve performance relative to unbridled market forces. This is a reminder that serious students of market performance take market failures seriously.

But what many economists generally gloss over is a notion that I will argue is highly complementary to market failures: management failures. For policy-making purposes economists assume that all businesses act rationally in the pursuit of profits. The possibility that that might not be the case is generally ignored, or even when mentioned, quickly finessed.

Even Tirole betrays this bias. The section on the profit maximization hypothesis at the end of the introductory chapter of his classic 1988 textbook on industrial organization concludes by saying that even if a firm doesn’t maximize profits, it can be treated, for the purposes of many of its interactions with the outside world, as if it does. Partly because profit maximization is a bedrock assumption and partly because maximization is a basic mathematical tool, economists have trouble dealing with firms that are not maximizing profits.

In this worldview, disasters only happen because the rules of the game in which the businesses operate must be flawed. Economists disagree about the actual incidence of these market failures and the cost-effectiveness of governmental efforts to tackle them, but they broadly agree that the only factors that prejudice performance are external to businesses.

Businesses and management experts, in contrast, tend take the opposite position. Thus, Dominic Barton, among many others, traces capitalism’s current problems to capitalists who work with time horizons that are shorter than they ought to be. And Michael Porter and Mark Kramer point to a big pot of gold for businesses that properly internalize the social consequences of their decisions instead of incorrectly externalizing them. In this view, poor performance is (mostly) caused by management failures — specifically, miscalculations of various sorts — rather than inherent flaws in the workings of the marketplace. And specific prescriptions for practitioners are served up that are supposed to improve both private profits and public welfare.

Neither school of thought, though, has it quite right. In their efforts to characterize important failures as being (for one group) always market failures and (for the other group) management failures, the two groups end up missing out on each other’s insights.
For an example, reconsider the financial crisis. Some, arguably including the Fed Chairman who presided over its eruption, Alan Greenspan, were utopians who thought nothing could go wrong on either front: the rules of the game or managerial responses to them. But the financial sector was clearly subject to a number of the market failures that were well known to most economists.

To begin with, quite a few parts of it are heavily concentrated at a global level (the credit ratings business, for example, or global investment banking), and many more at the national level (just six financial institutions account for 46% of all U.S. banking assets and as such are “too big to fail”). This small-numbers problem invalidates Adam Smith’s “invisible hand” mechanism in which good performance is supposed to be ensured by large numbers of competitors, none controlling more than a sliver of the market and none, therefore, with the power to jack up prices.

Other aspects of the financial sector highlight some of the problems with markets that economists have added to their list since the time of Adam Smith. Because of informational imperfections (think subprime mortgages), segments within financial services have a history of provoking manias, panics, and crashes — volatility exacerbated by recent innovations such as exotic derivatives and high frequency trading. Since capital is like air to other markets, problems with the financial sector can have important effects on the rest of the economy, a version of the market failure referred to under the rubric of externalities.

But having run through those economic problems with financial market attributes, the meltdown probably shouldn’t be chalked up just to them: missteps on the part of key managers also contributed. Consider Lehman Brothers, whose collapse was the trigger for broader sectorial travails. In the aftermath of Dick Fuld’s refusal to agree with the terms proposed by the government to help bail it out, his net worth was estimated to have collapsed from close to $1 billion to about $100 million. Similar points could be made about Jimmy Cayne at Bear Stearns and many others.

Nor was the government — beyond Greenspan and the Fed — blameless in the run-up to the crisis. The push to expand home ownership swelled the subprime mortgages that ended up sinking large chunks of the financial sector. Bailouts — not just the ones after the crisis but also prior ones, such as that of Long Term Capital in 1998 — aggravated the problem of “moral hazard” that informational imperfections can engender. And the complexity of some of the post-crisis regulations seems, in a world of human rather than superhuman managers, to have slowed down recovery from it.

Given such realities — which could also be illustrated with other key sectors such as health care and education — the right response is to pay attention to both market and management failures. Doing so expands one’s sense of both the room to improve performance and the levers that might be pulled to do so. It also helps enhance credibility — another important consideration since recent surveys suggest that Americans, at least, are similarly dissatisfied with their government and with large corporations.

Finally and most importantly, considering both management failures and market failures helps spotlight the most serious problems because of an interaction effect: market failures expand the scope for management failures to matter a lot. For instance, the pay packages financial executives awarded themselves for “performance,” a contributing factor in aggravating the income and wealth inequality seen in some major economies. Are those market failures, or management ones? But to see these complementarities you have to take both market failures and management failures seriously — and not enough people are doing that as yet.

http://tectono..com/2014/11/what-economists-know-that-managers-dont.html

AFRICTA ADJUDGES DR. MIKE ADENUGA AFRICAN ICT MAN OF THE DECADE
West Africa’s major telecoms operator, Globacom and its Chairman, Dr. Mike Adenuga Jr. have won five awards at the 2014 African Information and Communications Technology Awards (AFRICTA) held at the Eko Hotel and Suites, Lagos over the weekend.

Tectono Business Review learnt that Dr. Adenuga was adjudged the African ICT Man of the Decade for his pan African ICT investment vision, humaneness and unrivalled patriotism.
Globacom bagged four awards including the Broadband Backbone Provider of the year for its Glo 1 infrastructure, Subscriber – Friendly Telecoms Operator of the Year for its commitment to subscriber rewards and sponsorships , Fastest Growing Mobile Operator of the Decade and Best Wholesale Broadband Company of the year.

The awards’ promoters described Dr. Adenuga as a pan-Africanist who has put a human face to wealth creation and an investor whose vision for the ICT industry is founded on a tradition of changing the life of the black man. Hence Globacom has become synonymous with life-transforming investments like the Glo 1 undersea cable which has changed the way West Africans live and do business.”

As the Broadband Backbone provider of the Year, Glo 1 was cited as bringing to West Africa a more flexible and efficient work environment with guaranteed connectivity anywhere, anytime as had never been experienced before.

The telco was singled out for further praise for its promotion of the entertainment industry, sports and sponsorship of cultural festivals across the Nigerian ethnic terrain, hence Globacom was rated the most Subscriber friendly Operator.

In giving the Fastest Growing Mobile Operator of the Decade Award to Globacom, the judges of AFRICTA said that Globacom after roll out in 2003 grew in geometric progression, setting records that are still difficult to equal.

http://tectono..com/2014/11/africta-adjudges-dr-mike-adenuga.html

STANBIC IBTC PENSION EXCEEDS ONE TRILLION NAIRA ASSET
Wow!!!!!!!!!!!! This is very interesting. One of the biggest Pension Fund Administrators (PFAs), Stanbic IBTC Pension Managers Limited, has recorded over one million retirement savings account (RSA) holders with assets under management in excess of N1 trillion. This development was made known by the Chief Executive Officer of the company, Dr Demola Sogunle.

Tectono Business Review got to know about this development from Dr. Sogunle during a conference on pension and corporate governance organised by the company in Lagos. According to him, the company pays approximately N1.8 billion to almost 30,000 retirees monthly. He said over N178 billion has been paid to retirees seamlessly since the PFA began operations in 2006.

Speaking on corporate governance in the pension industry, Dr. Sogunle said that against the backdrop of the recently enacted Pension Reform Act of 2014, the industry now stands on a stronger foundation, providing safety for the N4.5 trillion pension assets under management.

He stressed that the new law had expanded the scope of participation in the pension scheme by Nigerians as well as strengthened compliance with its provisions, especially relating to enrolment and remittance of pension contributions.

He added that whatever gaps that existed in the old pension regime had been effectively plugged in the new law, making the incidence of ghost pensioners and widespread mismanagement of pension funds almost impossible. He noted that very stiff penalties for pension funds fraudsters and employers who persistently fail to deduct and or remit pension contributions of their employees within the stipulated time are expected to checkmate abuse.

Dr. Sogunle described as erroneous the impression often bandied in the public space that pension funds are left to PFAs, employers, individuals or operators to handle as they wish. Instead, he emphasised that pension fund assets are held by Pension Fund Custodians (PFCs) who execute benefit payments and investment instructions from the PFAs and are duly licensed by the National Pension Commission (PenCom).

http://tectono..com/2014/11/stanbic-ibtc-pension-exceeds-one.html

TOO BAD!!! THREE IMO STATE APGA OFFICIALS DIE IN ROAD MISHAP
It is very sad for someone to dies in the process of campaigning and mobilizing support for a bloody politician. Three members of the All Progressive Grand Alliance (APGA) died in an auto crash on their way back to Owerri from Abuja.

Tectono Business Review gathered that a statement issued on Tuesday in Abuja by the National Chairman of APGA, Chief Victor Umeh, named the deceased party officials as Mr. Tony Mgbeahurike (state Publicity Secretary); Obinna Ibe and Uche Okeke.

The accident was said to have occurred at Uromi, Edo State, while they were returning to Owerri from Abuja where they had accompanied the party’s governorship aspirant, Okey Eze, to collect his Expression of Interest and Nomination Form from the party’s national secretariat. The bloody politician that they accompanied to Abuja flew to and from Abuja. Why was he unable to get flight tickets for his supporters? Must the poor continue to die for the rich?

According to the statement, another victim who is the State Organising Secretary of the party, Chief John Iwuala, is said to be lying critically injured in an undisclosed hospital.

Chief Victor Umeh, in a condolence message addressed to the Chairman of APGA in Imo State, Peter Ezeobi, and all members of the party and signed by his media assistant, Mr. Stan Okeke, expressed sorrow over the tragic incident. He condoled with families of the bereaved and prayed God to grant their souls eternal repose.

“We also pray God to save the life of John Iwuala who is still lying critically injured from the accident in the hospital, and enjoin our party members in Imo State to take heart,” the statement read.


http://www.freedomafric.com/politics/president-goodluck-jonathan-brushes-off-scandals-lead-2015-election-race-reuters-t1610.html


http://www.freedomafric.com/state-politics/3billion-new-govt-house-you-are-wicked-insensitive-fayose-tells-fayemi-t1585.html


http://www.freedomafric.com/state-politics/jonathan-wife-resigns-bayelsa-permanent-secretary-t1586.html 2014-10-24 always 1


http://www.freedomafric.com/sect-politics/brigadier-general-godwin-alabi-isama-nigeria-biafra-civil-war-account-t1587.html


http://www.freedomafric.com/home/foundation-moves-empower-human-rights-defenders-nigeria-t1588.html


http://www.freedomafric.com/debates/sheikh-gumi-jonathan-you-divisive-drop-your-2015-reelection-bid-t1589.html


http://www.freedomafric.com/crime-management/nigeria-senate-approves-seven-years-jail-term-for-cyber-crimes-and-related-offences-t1590.html


http://www.freedomafric.com/legal/supreme-court-sacks-delta-lawmaker-orders-salary-refund-t1591.html


http://www.freedomafric.com/legal/coroner-summons-joshua-testify-nov-over-synagogue-building-collapse-t1592.html


http://www.freedomafric.com/legal/fayose-swears-judge-who-headed-his-impeachment-panel-t1593.html


http://www.freedomafric.com/international/nigeria-former-consul-general-keshi-tackles-united-states-envoy-nigeria-t1594.html


http://www.freedomafric.com/debates/igbos-have-hijacked-the-nigerian-economy-junaid-muhammed-t1596.html


http://www.freedomafric.com/politics/president-jonathan-can-win-2015-because-never-won-any-election-the-past-junaid-mohammed-t1597.html

http://www.freedomafric.com/family-leisure/are-you-too-nice-t1598.html

http://www.freedomafric.com/international/rare-acceptance-wrong-isreali-president-apologizes-arabs-for-massacre-t1599.html

http://www.freedomafric.com/legal/man-sentenced-days-community-service-for-stealing-pot-soup-t1600.html

http://www.freedomafric.com/debates/president-jonathan-has-assaulted-the-sensibilities-muslims-visiting-jerusalem-gumi-t1601.html

http://www.freedomafric.com/debates/asari-amaechi-betrayed-saro-wiwa-with-his-pro-gambari-apc-rally-speech-t1602.html

http://www.freedomafric.com/recycle-bin/asari-amaechi-betrayed-saro-wiwa-with-apc-rally-speech-t1603.html

http://www.freedomafric.com/auto-sales/air-travel-introduction-windowless-aircraft-t1604.html

http://www.freedomafric.com/phones-and-tablets/say-hello-microsoft-lumia-firm-reveals-how-windows-phones-will-look-without-nokia-branding-after-name-switch-t1605.html


http://www.freedomafric.com/international/hundreds-give-passports-after-new-tax-rules-start-t1606.html

http://www.freedomafric.com/politics/oyo-state-pdp-crisis-party-leaders-aspirants-battle-patience-jonathan-t1607.html


http://www.freedomafric.com/football/fifa-gives-nigeria-grace-extends-deadline-october-t1608.html

http://www.freedomafric.com/politics/babangida-regime-disarmed-nigeria-military-after-okah-coup-safeguard-regime-sen-saleh-t1609.html

http://www.freedomafric.com/politics/apga-bent-winning-lagos-umeh-nzekwe-t1611.html

http://www.freedomafric.com/politics/report-says-tinubu-suffering-from-parkinson-disease-flown-abroad-t1612.html

http://www.freedomafric.com/politics/pdp-move-against-emeka-ihedioha-for-hosting-warm-reception-honour-tambuwal-t1613.html

http://www.freedomafric.com/investment/shandong-power-equipment-company-limited-invest-nigeria-power-grid-t1614.html

http://www.freedomafric.com/central/fundamental-ideology-behind-boko-haram-insurgency-and-some-recommendations-stop-them-t1615.html

http://www.freedomafric.com/politics/angry-pdp-senators-threaten-dump-pib-2015-budget-bill-others-t1616.html

http://www.freedomafric.com/politics/apga-appoints-obiano-national-leader-and-chair-bot-t1617.html

http://www.freedomafric.com/politics/how-tambuwal-tricked-move-the-motion-for-adjournment-day-decamped-t1618.html


http://tectono..com/2014/11/too-bad-three-imo-state-apga-officials.html

STANBIC IBTC BANK UNVEILS CAMPAIGN TO SUPPORT SME OPERATORS

Wow!!! This is a good development for budding entrepreneurs. Stanbic IBTC Bank says it has unveiled a nationwide campaign to support the operators of Small and Medium-scale Enterprises in the quest to grow their businesses.

Tectono Business Review gathered that the support, which involved business term loans, vehicle and asset finance, to distributor finance, import and export finance, trader loans and agriculture finance, among others, had been developed to drive the growth and profitability of the SMEs, the bank said in a statement.

The Executive Director, Personal and Business Banking, Obinnia Abajue, said following the launch of a television commercial, the bank was prepared to give loans to businesses, small, medium, or big, as long as they had prospect and were well structured. According to him, mobilizing capital for investment in the economy was a key factor in Stanbic IBTC Bank’s commitment to providing financial solutions to help clients to meet their business objectives.

He urged the SMEs to adopt a professional approach to managing their businesses, ensuring standard and proper record keeping, if they hoped to get the support of banks to grow their businesses.

In the TVC, which is part of an integrated marketing campaign on radio, television, advertising, press, and outdoor, Stanbic IBTC Bank outlined opportunities through which it can help people and businesses across the SME value chain to accomplish their goals, the statement said.

Tectono Business Review urges other companies, especially banks, to take a cue from Stanbic IBTC Bank. All the business schools across the globe teach that small and medium-scale enterprise is the engine room and lifeblood of the economy of every nation. Let them not be neglected.

http://tectono..com/2014/11/stanbic-ibtc-bank-unveils-campaign-to.html

IFEANYI UBAH SETTLES WITH AMCON, RETURNS AS MD/CEO OF CAPITAL OIL
Information reaching Tectono Business Review has it that the Asset Management Corporation of Nigeria(AMCON) has reached an amicable settlement with Chief Ifeanyi Ubah of Capital Oil and Gas(COG) of all pending legal disputes between the parties.

This development was announced in a statement by Kayode Lambo, the AMCON Head, Communications, Strategy & Research. The statement further added that consequent upon this settlement, Chief Ifeanyi Ubah would be resuming his role as the Managing Director/Chief Executive Officer of COG. His resumption as the MD/CEO of COG brings to an end the management of COG by AMCON. This is in accordance with the terms of settlement as agreed by both parties that the loan be serviced as per the judgement of the Federal High Court. The statement continues that this settlement is in line with AMCON’s role as a resolution vehicle to help stabilize and revitalize the Nigerian banking system and economy.

It can be recalled that AMCON took over the management of Capital Oil and Gas Industries in June 2013, and the management’s takeover of the indigenous downstream player was to last for two years. The takeover at the time became necessary after AMCON acquired Capital Oil and Gas’ outstanding facilities from various banks. This change of management was effected on 21st June 2013.

Tectono Business Review congratulates Chief Ifeanyi Ubah and other directors of Capital Oil. We advice him to move at least 60% of Capital Oil funds to up-stream operations if he does not want to run into heavy debt again.
http://tectono..com/2014/11/ifeanyi-ubah-settles-with-amcon-returns.html

Webmaster, please, this is my blog: http://tectono..com

I applied for adsense and after about three days, I started seeing google adverts on my blog and I was not sent a mail at all. My question is how do I get my account details across to google adsense, how do I know the amount I am supposed to be paid to avoid cheating?

Please, one last question. How do I increase the number of visible topics in the home page of my blog from 5 to about 20 and how do I use the 'read more' button?

Thanks a billion. I look forward to getting your reply.

Webmaster, please, this is my blog: http://tectono..com

I applied for adsense and after about three days, I started seeing google adverts on my blog and I was not sent a mail at all. My question is how do I get my account details across to google adsense, how do I know the amount I am supposed to be paid to avoid cheating?

Please, one last question. How do I increase the number of visible topics in the home page of my blog from 5 to about 20 and how do I use the 'read more' button?

Thanks a billion. I look forward to getting your reply.

OANDO PLC READY TO LIST OANDO MARKETING LTD ON THE FLOOR OF NSE
Folks, if you are thinking of investing in marketing of petroleum products (i.e. downstream operation) in Nigeria, you have to have a re-think. Why did Tectono Business Review say so? It is because it involved a lot of money as capital and the profit margin is too small. If you access credit facility from the bank to invest in the business, the interest will eat up your profit and you still have overhead costs.

That is why so many companies that started the business are divesting from it. Dr. Jimoh Ibrahim’s Global Fleet Oil & Gas Ltd has divested from all the Energy branded petrol stations in Nigeria. Dr. Ibrahim, in his wisdom, decided to move the fund to a more profitable business. Global Fleet still owns the properties and the Energy brand but other companies are financing and managing them. Dr. Mike Adenuga’s Conoil Plc is more interested in oil exploration and production through its subsidiary, Conoil Producing Ltd. Conoil has moved 70% of its fund to the up-stream operations. This firm has acquired many oilfields in Nigeria. The founder of Tectono Group has had the opportunity of visiting Opuama and Obolowo oil fields.

Tectono Ventures Ltd oil and gas partners such as Kaniex Oil & Gas Ltd, Pact Universal Ltd and Matrix Energy Ltd are planning to divest from the downstream operations. In the petroleum sector, mid stream and up-stream operations brings more returns. It is obvious that the up-stream operations made Mrs. Folorunsho Alakija one of the richest women in the world.

Tectono Business Review has gathered, authoritatively, that Oando Plc is renewing moves to list its downstream subsidiary, Oando Marketing Limited (OML), as a separate entity on the Nigerian Stock Exchange (NSE). This follows the approval given by the shareholders of the company at the annual general meeting held in Lagos a few days ago.

To read the full write-up, click: http://tectono..com/2014/11/oando-plc-ready-to-list-oando-marketing.html

This is a political and business blog called Tectono Business Review: http://tectono..com

This is Tectono Business Review http://tectono..com

This is Tectono Business Review blog: http://tectono..com

Please, scan: http://tectono..com

Hi

Well, it is obvious that the prince deploys his intellectual capacity, wealth of entrepreneurship experience and international exposure to the effective and efficient management of all the companies under Ifesinachi Group. Ask any intelligent person that know about the prince.

PRINCE DR. EMEKA MAMAH, OF IFESINACHI TRANSPORT, DECLARES HIS POLITICAL AMBITION!!!
Tectono Business Review has gathered that the Chairman and Chief Executive Officer of Ifesinachi Group of Companies, Prince Dr. Emeka Mamah, has declared his intention to represent Udenu/Igboeze North Federal Constituency in the House of Representative under the platform of People Democratic Party (PDP) come 2015.

Below is his Statement of Intention to Contest for the Federal House of Representatives under People’s Democratic Party (PDP). Sit back and enjoy it. He is a paradigm of sparkling brilliance.

My Dear People of Igboeze North/Udenu Constituency, I am offering myself for patriotic service to the people of Igboeze North/Udenu. In the past eight years, I have followed with a lot of admirations the progress made in our state through the Governor, His Excellency Sullivan Iheanacho Chime with the support of all our representatives at the federal and state levels. There is no gainsaying the fact that our leaders under our great party (PDP) have ran an incredibly good race and deserves the commendation of all of us. The transformation our state has undergone in the past eight years remains unequal and unmatched in the annals of our history. Juxtaposed to this uncommon and unprecedented achievement is the meager revenue from the federal allocation and the paltry sources of Internally Generated Revenue (IGR).

As a constituency, we have benefited from the state immensely and have also had the privilege of being represented by one of Nigerian’s finest parliamentarian. No wonder Hon Ifeanyi Ugwuanyi is unanimously being considered by our party and our people to be the next governor of the state. I salute the choice of our own Hon. Ugwuanyi and I am convinced beyond all doubt that he will deliver and even surpass the legacies our amiable governor is leaving behind. So let us summon a new spirit of patriotism; of service and responsibility where each of us resolves to pitch in and work harder and look after not only ourselves, but each other. Let us resist the temptation to fall back on the same partisanship and pettiness and immaturity that have poisoned our politics for so long. Let us work together as a people and as a party and support the candidature of Hon Ugwuanyi and all the team being put together by the leadership of our party

My dear people, I have evaluated the political dynamics of our time and I have had to make choice between continuously making money in private business and impacting more people through politics. My choice is to impact more people through politics and policies informed by the innovative ideas I have espoused through private business in the last two decades. Many of you can attest to the fact that no business in our constituency has employed more people in our community than mine has done. While this is a modest contribution to our people, I see myself as having a unique opportunity to impact more on the lives of our people through the parliament and through the legislations I intend to pursue if given your mandate to represent you at the House of Representatives otherwise known as the green chamber. I, therefore, offer myself for patriotic service and present myself for your approval as a candidate for the federal house of assembly under our great party, PDP.

Ladies and gentleman, our constituency has come to a crossroad with the calling of Hon Ugwuanyi to new frontiers, and now you have the power to change the political landscape of Enugu state through the kind of team you elect to support him and support our party. As I have said time and time again, if you elect me to be your face in parliament, there are several things I will do to ensure that your needs are met day in and day out across this land. I have done same successfully through my private business and I will bring this wealth of experience to bear in this new assignment if given the mandate

First of all, I plan on proposing new legislation that will invest more tax in our public schools, not only to meet the needs of today, but to encourage developing minds for the future. Such new funding would be used to hire and retain good teachers, build and renovate new schools, and give great tax preferences to classroom teachers. To accomplish this, I am proposing no new taxes increases, but rather a rechanneling of our existing tax revenue to meet these demands. No state or country can match the demands of this century and compete among the comity of nations without proper education. I know the value of education and I can testify to how it can broaden ones horizon and remove you from the shackles of poverty and dependency. This has always been the vision of my late father and I have tried my best to step into that shoe even while he was alive.

Secondly, economic development is on the minds of most of you, particularly with regard to the non-oil sector. For many years, economic prosperity through small and medium scale businesses has been neglected, and I plan to change all of that through a new legislation. I am proposing a more flexible access to short loans and innovative business strategies that would drive our economy and put so many of our youths in jobs where they will be the CEO and not the messengers. I understand the fulfillment that comes with working for oneself as opposed to working for others. SMEs have the potentials to open up our economy and unleash the possibilities of our state and country.

Thirdly, I am proposing the construction of a light rail system, to be built over the next decade, to meet the growing demands of better and more efficient transportation for years to come. As someone who has been in transport business for several years, I understand the nexus between easy movement of goods and people and economic development. My generation doesn't want to be remembered for a road we build today, but for a more visionary transportation system for our future.

I am not a career politician who has lost touch with the everyday needs and concerns of day-to-day people. I am and have always been here with you all. My work as community leader and business owner has given me a unique perspective on the pains and challenges you face.

If elected, I promise to give my all to my elected position and make sure your issues and concerns are fully addressed at the local and national level. I am Prince Dr. Emeka Mamah. I keep my words and I keep my promise; entrust me with this mandate and if any member of the House of Representative impact on his or her people more than me, please recall me. On my honour, I will deliver and you will triumph. It is a deal!
Long live PDP
Long live Igboeze North/Udenu Constituency!
Long live Enugu State
Long live Federal Republic of Nigeria

http://tectono..com/

There are many roles for the ‘General as a Strategist’ in navigating organisational strategic road maps to reality. The issue of general supervision cannot be taken for granted. It looks like the general will play the role of control tower for the other drivers of the strategy to navigate safely.

The problem of many organisations lies in the lack of intellectual capacity of the ‘General as a Strategist.’ This manifests in the form of weak knowledge of what the organisation needs, which is beyond the usual ‘as the spirit directs’ approach. The fact remains that basic sound knowledge of management principles cannot be compromised as a basic requirement.

How does one explain a ‘General as a Strategist’ not knowing the market he intends to play in? For instance, you see a newspaper that is targeting the mass market publishing hard articles and devoting many pages to intellectual/academic concerns. Such issues do not add significant benefit to the mass market. How will such a paper fare in the market? The newspaper will lose market share very quickly. The more poor people buy the newspaper, the more they will discover that the articles are of no benefit to them. With time, they will drop the newspaper. And when the intellectuals buy the newspaper, they are also not comfortable with it, as there are just a handful of articles in which they are interested.

The strategic direction is clear and all that the ‘General as a Strategist’ needs to do is to continue to upgrade his knowledge of the specific market and add value. Strategic alignment will be very difficult if he changes market focus.

There is no doubting the fact that First Bank is a mass market bank. And for a century, they have been focusing on the mass market. First Bank never takes private banking as a priority over and above their market focus. They have gained a large share of the mass market. They develop products that the market will need and they move on with excellent results.

Most new generation banks do not know which of the markets they want to focus on. Many of them want to focus on the mass market, with large branches of the bank all over Nigeria. But in practice, they largely focus on private banking, which is the end market of the rich, a clear case of cross purpose in strategic direction. How does one explain a loan of more than the entire shareholders fund given to one individual, when it is expected that such large sum of money should have been given to many customers to support the idea of the mass market, if that is the strategic focus.

It is so sad that when you ask a CEO which market he is focusing on, he may often say, ‘I focus on anywhere money will come from!’ Regrettably, those short term benefits will not sustain the organisation. In a telephone hand set business, if the company is focusing on the mass market, it is very important to address the issue of price. For instance, of what significance is a telephone with features like YouTube, Facebook, or Internet connectivity to an illiterate market woman who wants a telephone? All of these will add to the price. And what a market woman needs is a cheap phone to make her calls!

The strategic direction for the ‘General as a Strategist’ is to ensure adequate knowledge of the market. You cannot develop a market that you are not expected to focus on. The missing link therefore is the lack of appropriate understanding of the market for the products of the company or the alignment of cross markets. For instance, the Louis Vuitton brand is meant for the end market of the rich. Their products mean luxury! However, those behind the brand must think very fast, for the poor also love luxury! Their only obstacle is price. But makers of fake Louis Vuitton products can help the poor out of this dilemma. And once the rich begin to see Louis Vuitton products with the poor, the brand may lose the end market of the rich. Such an occurrence may create competitive advantage for the competitors of Louis Vuitton, as the fake products may sell more than the original products.

The greatest challenge to any CEO today is the market. Market issues include price, quality, competitive advantage, market share, technology, people and change. Nothing is predictable in the technology market. Before you can conclude your strategic road map, a new product that could put you on permanent disadvantage is launched by the competitors. Oftentimes, you simply do not have an answer to a competitor’s challenge. Customer loyalty cannot be taken for granted.

The challenge for the ‘General as a Strategist’ in respect of knowledge development cannot be taken for granted. To many customers, innovation is important for retention. In my view, if innovation must be relevant, it has to be an accelerated innovation. But the problem here is lack of knowledge of what to do on the part of the CEO.

How did the CEO of Blackberry react to the accelerated innovation introduced by Samsung? They had no answer! Blackberry was offered for sale! How did Nokia react to the same innovation of Samsung? They simply changed their market, moved to the emerging market of Nigeria and accepted low market share in developed countries of Europe and America, since they are at competitive disadvantage. And when Samsung penetrated the emerging market of Nigeria by increasing market share, what did Nokia do? Simply run away to no market!

In practice and more particularly in the financial service industry, when a CEO has no answer for a competitive innovation, he simply embarks on de-marketing of the competitor. Again this approach is not sustainable. The key issue in understanding where to play in the market is cost of operation. A CEO cannot charge a low price for products meant for the end market, so also will it be impossible to charge a higher price for products meant for the mass market. In the middle market, both high and low prices are acceptable.

The CEO of Range Rover almost sent the company into bankruptcy when he attempted to do a radical sales transformation of the product some years back. He introduced a new set of Range Rover for the mass market, while keeping the existing product for the end market, so that it will be possible to have a Range Rover of twenty thousand dollars for the mass market, while the superior Range Rover will remain for the end market as luxury!

Regrettably, he produced over one hundred thousand of such cars for the mass market. The end market reacted by shifting to the competitor, ‘The Lexus’ and in no time, the legacy of Range Rover was on the decline! The Board quickly met, sacked the CEO and destroyed the entire vehicles meant for the mass market, so as to retain the end market for the sustenance of their legacy.

The lesson here is not to jump over markets. Once a decision is taken about which market to operate in, the next thing is to keep that market. And how to do that largely depends on knowledge of how to earn customer loyalty. The ‘General as a Strategist’ must be on top of such matters.

I am back to school for the next six weeks at the University of Cambridge, Judge Business School, where I have been admitted into the Cambridge Advanced Leadership Class of 2014. I promise, as usual, to keep you posted on new developments in leadership. I can hardly wait for the class on accelerated innovation of China and the unresolved leadership issues before the takeover of the world by China.
http://tectono..com/