Building a customer base is important in all businesses. Using an online community base should ideally be a large number of current and prospective clients or buyers talking to each other. As social media marketing is becoming so popular, business owners need to go into social media marketing, targeting the right and cost-effective channels to market their products, services or brands become a big question as they may not have the time or resources to spend on every one of them.

A strategy for social media engagements is useless without an objective. The objective can be building an online community, lead generation, website traffi c, data collection, revenue generation online, and brand exposure. This means you should have a way to measure the effi cacy of your campaign. It’s not an easy decision to decide on which social media your business should target; however here is a quick survey of few social media platforms to aid your business;

Facebook: Facebook is the biggest social network today with more than 1.2 billion users worldwide and the chances are that most of your customers are members of facebook network. Facebook offers a wide variety of services to various an socially expansive users. Facebook is accessible from its well-known website and from its increasingly popular mobile app.

Twitter: Twitter is more of a personal micro blogging service than a community of users. Twitter lets users post short text messages called tweets, which then show up in the feeds of your followers. With more than 230 million monthly users it’s popular among younger and more mobile users because 76% of the user base access the service via mobile devices.

LinkedIn: This is a social network for business professionals. Great for job seekers and those wanting to network with others in a given profession or industry, LinkedIn has more than 250 million users.

Instagram: Instagram is a photo app for smartphones and mobile social network. Users shoot digital photographs and videos and share those items with their friends on the Instagram network. Instagram has more than 150 million users.

Pinterest: Pinterest is billed as a content-sharing service that allows members to pin or post photos, videos, and other images to their pinboards. It’s ideal for businesses for which visual imagery is a main feature or selling point. If you focus on wedding planning, travel destinations, interior decorating, fashion or foods, you can say a great deal about your products and services through your stunning photos or videos.

Analysing the survey, you will fi nd out that you will need to market where your customers visit on the web. If you send out a lot of news updates and bulletins often, facebook and twitter are very good. If your product is visually appealing (lots of pictures), you can’t beat Pinterest and Instagram, likewise facebook.

If you have videos of your product or service, you have to consider facebook, Instagram as they are all good for sharing videos and if you offer B2B (business to business) goods or services, LinkedIn is the site for you.

In summary, judging viability based solely on number of registered users leave out some important criteria. For example, how often do these users visit the site, and for how long? You need to know your customer, and where your customer socialises and target those social networks that your customers (or would-be customers) are most likely to use. Let that drive your social media strategy.

From all indications, Facebook still comes fi rst simply because of its 1.2 billion users, it’s really a strategic site for your business marketing as it doesn’t discriminate, both male and female, high and low income earners visit the site. Try not to focus only on the size of the community, but also on the potential to convert those community members into customers or brand advocates. Connect with your customers and keep them up to date on events. Your main strategy should be to engage targeted customers to get the best result.

Brand Finance, world’s leading brand valuation consultancy fi rm has named Lego as the world’s most powerful brand.

While Lego’s nostalgic humility earned it the top spot, it however forced Italian sports brand Ferrari into ninth place. Ferrari was last year’s most powerful brand.

According to the latest ranking in which every year, Brand Finance puts thousands of the world’s top brands to the test to determine which are the most powerful, and the most valuable, PWC and Red Bull landed in second and third place respectively.

Lego, as the World’s most powerful brand, scores highly on a wide variety of measures on Brand Finance’s Brand Strength Index such as familiarity, loyalty, promotion, staff satisfaction and corporate reputation.

According to Brand Finance CEO David Haigh, “Lego is a uniquely creative and immersive toy; children love the ability to construct their own worlds that it provides. In a tech-saturated world, parents approve of the back-to-basics creativity it encourages and have a lingering nostalgia for the brand long after their own childhoods.

“The Lego Movie perfectly captured this cross-generational appeal. It was a critical and commercial success, taking nearly US$500m since its release a year ago. It has helped propel Lego from a well-loved, strong brand to the World’s most powerful.” Haigh stated.

In order to tower above the rest and win the coveted “most powerful” crown, brands must score highly with familiarity, loyalty, promotion, staff satisfaction and corporate reputation criteria.

Brand Finance CEO David Haigh added: “Ferrari is still in a strong position and its brand value has actually increased 18 per cent this year to $4.7 billion.

“The new strategy to capitalise on the brand will certainly drive short term value but over-exploitation risks lasting damage

Admitting that Ferrari remains a very strong brand but its power is slowly diminishing, he stated that it has now gone several years without an F1 title and last season struggled even to mount a challenge. The sheen of glory from its 1990s golden era is beginning to wear thin.

Meanwhile, the departure of Luca di Montezemolo heralds a slight change in strategy at Ferrari’s road car division. Montezemolo kept a strict cap on production to maintain the exclusivity of the brand.

“Many Ferrari owners and aspiring owners are extremely brand-conscious, making the loss of the ‘world’s most powerful brand’ accolade, which Ferrari has held for several years, a particularly heavy blow,” Brand Finance CEO Haigh said.

While it is noted that the power of a brand is just one component of Brand Finance’s analysis, the company combines the information on a brand’s strength with fi nancial data, to calculate its commercial value. In the category of calculating brand values, Apple is reported to have emerged top.

Though not quite on a par with Ferrari or Lego in terms of brand strength, Apple still has a very powerful brand.

What sets it apart is ability to monetize that brand. Apple has a remarkable knack for using its brand to popularise and hence monetize existing technology, as it did so successfully fi rst with the mp3 player, smart phone and later the tablet.

Critics have been silenced by the success of the iPhone 6 and 6 Plus as consumers have snapped latest models in their droves, helping Apple set records for quarterly profi ts ($18bn) and company value ($710bn).

According to Haigh, “The Apple brand is worth US$128 billion. That value is huge not just in its own terms but also as a proportion of Apple’s record-breaking corporate valuation. It goes to show how valuable brands are as business assets and how important it is to manage them well.”

In the same vein, Twitter emerged as the fastest growing brand as it has almost tripled its brand value in a year, increasing from $1.5 billion in early 2014 to $4.4 billion now.

The study shows that fellow tech giants, Baidu and Facebook have also grown strongly, by 161 per cent and 146 per cent respectively.

The three appear to be more effectively managing the transition to mobile advertising than other tech players such as Google, boosting expectations of the fi nancial potential of their brands.

Chipotle stands out among the many successes from the tech and telecoms sectors this year. Its brand value is up 124 per cent. It is eating into McDonalds’ market share by positioning itself as a healthier, tastier and more ethical alternative. McDonalds’ iconic brand has lost $4bn in value this year.

Brand Finance Plc is the world’s leading brand valuation consultancy. It advises strongly branded organisations on how to maximise their value through the effective management of their brands and intangible assets.

Founded in 1996, Brand Finance has performed thousands of branded business, brand and intangible asset valuations worth trillions of dollars.

Nigerian Breweries Plc. – Nigeria’s leading brewing company, Psaltry International Company Ltd, a Nigerian cassava processing company and the International Fertilizer Development Centre, IFDC, through its Towards Sustainable Clusters in Agribusiness Entrepreneurship project (2SCALE), have signed a Partnership Agreement to optimize the cassava value chain in Nigeria and improve agribusiness for Nigerian smallholder farmers.

The Partnership Agreement is collaboration between the Parties to improve outputs of smallholder farmers and consequently support economic development as well as promote inclusive growth in Africa. The partnership will enhance farmers’ productivity and increase supply of high-quality cassava roots to Psaltry who will, in turn, provide industrial quality cassava starch for Nigerian Breweries to extract maltose syrup for use in the brewing process.

This Partnership Agreement succeeds the Memorandum of Understanding signed by the partners in June 2014 which formed part of the 2SCALE programme, a Dutch-funded initiative aimed at improving rural livelihoods and food security in Africa. The partners agreed to support small-scale farmers in the production of more and better cassava through technical assistance, training and easier access to fi nance. This will enable more smallholder farmers to participate in the market for processed cassava byproducts required for large industrial purposes.

The partnership also enhances Nigerian Breweries socio-economic contribution via the agricultural sector and supports the progress the company is making, towards the achievement of HEINEKEN’s ambition to source 60 per cent of its agricultural raw materials in Africa locally by 2020.

Managing Director of Nigerian Breweries’ Nicolaas Vervelde, said “as an operating company of HEINEKEN we have a long standing commitment to support local economic development and promote inclusive growth by sourcing agricultural raw materials from entrepreneurial local SME’s and utilizing it in our operations. Through our partnership with Psaltry and IFDC, we are taking a big step towards further realizing this ambition with cassava.”

From June to December 2014, 2SCALE and Psaltry created awareness, mobilized and trained over 500 direct farmers who supplied more than 20,000 tons of cassava roots to Psaltry’s processing factory. Over 2,000 direct farmers are expected to benefi t from the project within the next three years. The project has also worked to ensure that women and youths are targeted to ensure equity amongst project benefi ciaries.

Managing Director/CEO Psaltry , Oluyemisi Iranloye, said she is excited about the partnership because it would fast track the growth of her young company.

Premium Aquaculture Limited has started fi sh farming in Nigeria with about 4,500 tons of fi sh target yearly. This is in line with the fi sh policy of the Federal Government, which seeks the increment in the local production of fi sh in order to reduce the rate of fi sh importation.

This policy has continued to yield positive results as more fi sh import fi rms are now gradually investing in local production.

To this end, Premium Aquaculture has established two large fi sh farming in the country, one at Epe in Lagos State with 90 80 by w0 meters fi sh ponds capacity, and the other one in Abeokuta, Ogun State, which will also take off in April this year.

Addressing journalists during a facility tour of the Epe farming, the Project Manager, Sarvesh Pandey said the company’s investment in aquaculture was stimulated by the Agricultural Transformation Agenda, ATA, of the Federal Government and the recent fi sh quota policy of the Federal Ministry of Agriculture and Rural Development, FMARD, which seeks to develop the local production and reduce the country’s dependence on importation of fi sh. He said the company would be producing only two species of fi sh in Nigeria- Catfi sh and Tilapia.

According to Pandey, the farm, when it takes off properly in April, would provide employment opportunity for about 500 Nigerian youths. He promised that the farms would be dominated by local workers rather than hiring foreign experts to do the job, which could be equally done by the local experts. He said the company is investing about $1 million on the production of Tilapia fi sh to be produced in Abeokuta Farm being a specie that is not common in the country.

Also, the Farm Manager, Jagadeesha Gowda, noted that the shortage of fi ngerlings in the country has been hindering their production, saying the Farm has been able to stock only seven ponds out of 90 since it started in January. Gowda said they have been sourcing fi ngerlings locally but there is scarcity of fi ngerlings, limiting their capacity.

He however said that the Farm has also invested in hatchery for the production of fi ngerlings for both the farm and other farmers in the country. According to him, the company would make its fi rst harvest of catfi sh in June this year.

Explaining the rationale behind the Farm’s preference for earthy ponds rather than concrete ones, which is common among local farmers, Gowda said the earthy pond is the best for fi sh rearing because it keeps the fi sh in their natural habitat. He said that is the practice in India, noting that no farmer uses the concrete ponds in the country.

The African Development Bank AfDB through the African Financial Markets Initiative, AFMI has launched its AFMISM Bloomberg® African Bond Index in South Africa, Egypt, Nigeria and Kenya local sovereign indices.

“The launch of the indices comes as a welcome development at a time when African countries are increasingly looking to domestic capital markets to source much needed fi nancing for economic development,” says Director of the Financial Sector Development Department of the AfDB, Stefan Nalletamby.

The current index includes an African sovereign bond index comprised of the four most liquid bonds in Africa and three sub-indexes for different maturity ranges. To be included in the index, a security must have at least one year remaining to maturity and withstand price stability tests. Further liquid markets are expected to be added to the index this year.

“There is a clear need for a transparent and objective benchmark for sovereign debt in Africa. Well-crafted indices are essential in the assessment of value in markets while contributing to liquidity by giving investors a benchmark to evaluate their performance, says “Head of Emerging Markets Product, Bloomberg L.P. David Tamburelli.

The AFMI works to deepen the continent’s local currency bond markets and also strives to create an environment where African countries can access fi nancing at variable terms. By providing transparent and credible benchmark indices, the AFMISM Bloomberg ® African Bond Index provides investors with a tool with which to measure and track the performance of Africa’s bond markets. The composite index is available to Bloomberg Professional service subscribers via {BADB Index<GO>}, which includes the Bloomberg South Africa {BSAFR Index <GO>}, Bloomberg Egypt {BEGYP Index <GO>}, Bloomberg Nigeria {BNGRI Index <GO>} and Bloomberg Kenya {BKEN Index <GO>} indices.

The Seaport Terminal Operators Association of Nigeria STOAN, umbrella association for all Port concessionaires in Nigeria has said there was nothing wrong in the continued collection of the old port charges, contrary to a judgment of a Federal High Court sitting in Lagos to the contrary.

Justice Ibrahim Buba, the presiding judge had upheld the powers of the Nigerian Shippers Council, the commercial port regulator, directing the terminal operators and members of Association of Shipping Lines Agency ALSA, to revert to the pre-2009 port charges.

The judge, while delivering a judgment in a suit brought before him by the ALSA, also dismissed an application challenging the directive by the council to the agencies to reduce shipping line agency charges and also refund container deposits within 10 days, among several others.

Counsel to the association, Femi Atoyebi SAN, who spoke in reaction to threats by the council to institute contempt proceedings against the association, said his clients have not erred in any way in the eyes of the law.

According to him, the said judgment is subject of a pending appeal and that his clients also fi led an application for a stay of execution of the judgment or injunction pending the determination of the appeal.

He however disclosed that he had earlier written the NSC when it threatened the terminal operators to comply with its directives as from December 22, 2014, which he insisted was not only illegal but also unacceptable and a cloaked attempt to foist upon the Court of Appeal a situation of complete helplessness.

He had argued that if his clients’ appeal succeeds the, the judgment of the appeal court would have been rendered nugatory.

“The law in Nigeria is that where, as in the present case, there is an appeal against a court decision and a motion for stay of execution or injunction is fi led, none of the parties must do anything to frustrate the hearing of the appeal until the application has been heard and determined, one way or the other”, he argued.

He supported his claim with a Supreme Court judgment in a matter between Vaswani v Savalakh & Co. in 1972, where the apex court held that where a party who has suffered a defeat following a trial in any cause or matter is appealing, and he asks the court for a stay of execution, he will not be held in contempt merely because he has not obeyed the order which he is appealing against or which he wants stayed or suspended pending the appeal.

But counsel to the NSC, Dr. Olisa Agabkoba SAN, who has also instituted a N150billion suit against the terminal operators faulted this position.

According to him, this would mean that the appeal and application for stay of execution invalidate the judgment of the Federal High Court.

“What Atoyebi SAN claimed is that the terminal operators have the licence to continue the collection of the illegal charges because there is a pending application for stay of execution of the judgment and an appeal, he argued.

He also said: “In essence, they are saying that the pending application for stay of execution and the appeal have arrested the effect of the judgment. We disagree with this position. The mere fact that there is a pending application for stay and an appeal does not remove the effect of the judgment”.

Agbakoba cited a Supreme Court decision in Okafor v. Nnaife in 1987 where the apex court held that it will be unfair to allow a losing defendant to continue ‘cutting down and selling economic trees on the land’ adjudged by the trial court not to belong to them simply because of a pending application for stay of execution and an appeal.

While commenting on the contempt suit in which he asked the terminal operators to refund a total of N150 billion, he argued that the essence of the judgment obtained by the NSC is for the overall general good of the Nigerian economy.

“The judgment is to stabilise prices and ensure more cargo throughput to Nigerian ports and stem the yearly loss of over N2trn potential revenue to the Nigerian government caused by excessive and illegal port charges by terminal operators”, he insisted.

He also said that Nigeria’s seaports are now characterised by poor service delivery, cumbersome cargo clearance procedures, non-compliance with regulations, arbitrariness and indiscriminate billing systems, proliferation and duplication of charges and numerous tariff heads by these terminal operators.

…bankers worried

As the June 2015 deadline for the completion of Banks Verification Number, BVN, registration draws closer; the project seems to have been marred by lack of awareness and unwillingness of many to be part of the exercise, though a reasonable number of customers have been captured in the IT-driven project. Udo Onyeka reports

Banks operating in the country have revved up their campaigns on the Banks Verification Number, BVN, project with renewed zeal as the deadline set by the Central Bank of Nigeria, CBN, for the completion of the registration exercise draws closer. The increased push by the financial institutions to capture their customers in the electronic database has continued to pay off, despite initial hurdles encountered by them.

In spite of the modest success achieved by the banks, investigations by Business Courage show that more work lies ahead for the banks in the months ahead as a large percentage of bank customers are yet to be captured in the biometric registration due to what analysts termed lack of awareness of customers about the exercise and its benefits.

There is also a large group of customer who have deliberately ignored banks’ persistent enlightenment campaigns ostensibly because of their past experiences with SMS and other forms of messages sent by fraudsters with the intention of duping them. To this set of customers, the rule has become like ‘once beaten, twice shy’ and they are therefore suspicious of electronic messages sent to them, no matter how beneficial the contents may be to them.

One of the customers during a chat with Business Courage quipped: “I am afraid fraudsters may exploit this initiative as well as the awareness campaign to mine sensitive information from bank customers and steal their money”

But despite the fears of many, the CBN and the banks have consistently maintained that BVN was designed to enhance the integrity of the banking system by protecting financial institutions and their customers from nefarious antics of fraudsters.

Convinced of the desirability of the exercise and its potential benefits for all stakeholders, the Deposit Money Banks, DMBs, under the aegis of the Bankers’ Committee of the CBN, have intensified enrolment of their customers, using all communication strategies to break the barrier of illiteracy that seems to be threatening the project.

Director, Corporate Communications, CBN, Alhaji Ibrahim, had explained that the BVN was aimed at protecting bank customers and further strengthening the Nigerian banking system.

He said: “It also seeks to address the safety of customers’ funds, avoid losses through compromise of personal identification numbers and other criminal activities in the industry.

“The project has been described as a ‘silver-bullet solution’ to many of the challenges in the banking industry. The BVN is a unique identifier for each bank customer across the financial industry, making it possible to build and track customer financial history and activity.

“This will allow banks access to more reliable information that could inform decisions on customer loan and credit applications and other complex transactions”, Mu’azu clarified.

According to him, banks are also now able to reduce identity fraud within the financial industry and increase accountability levels.

As part of efforts to encourage enrolment on the BVN, the CBN recently directed banks to only honour transactions over N100m from customers with BVN from March 2015.

Such transactions according to the apex bank include but not limited to, money transfers, loans, and contingencies, among others.

The CBN, while urging all bank customers to register for their BVN by June 2015, warned that any bank customer without a BVN would be deemed to have inadequate know-your-customers, KYC, by that date.

BVN involves the registration of customers in the fi nancial system using biometric technology making accounts more secure using unique identifi ers such as fi ngerprint.

The Bank Verifi cation Number Project is an initiative aimed at protecting bank customers and further strengthening the Nigerian banking system. It is an initiative of the CBN and the Bankers Committee.

It is the registration of customers in the fi nancial system using biometric technology with biometric technology involving the process of recording a person’s unique physical traits such as fi ngerprints and facial features.

Business Courage was told that this record can then be used to correctly identify the person afterwards.

According to Managing Director, Guaranty Trust Bank, GTBank, Mr. Segun Agbaje, once a person’s biometrics have been properly captured, the person is given a Bank Verifi cation Number.

He said the objective the BVN initiative is to protect bank customers, reduce fraud and further strengthen the banking system.

“Fraud is reduced because no two people have the same biometric information. Banks will therefore be able to check the features of a person doing a transaction against the record which the bank has captured thereby correctly identifying the owner of an account.

The BVN require all bank customers in the country to register or enroll for a BVN, and the CBN directed that all bank customers must have their BVN by June 2015.

Apart from the issues and concerns over misconceptions about real intention behind BVN initiative, safety of personal information and lack of privacy, many customers are not willing to go to any of their bank branches to enrol just because they cannot afford to waste their time on long queues waiting to take their tune.

But the Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, said the fear of time wasting before registering should not be there since the process is very simple.

He said to enrol; bank customers must visit a branch of their bank, adding that the Bank Verifi cation Number given to a person by one bank will apply to that same person for any bank in Nigeria.

To enrol, he said “a customer should fi ll out and submit the BVN enrolment form in any branch of his bank. Biometric information such as fi ngerprints and facial imagery are recorded. Acknowledgment slip with transaction ID is issued and Bank Verifi cation Number is created and customer is alerted to arrange for pick-up”, Fatokun informed.

According to him, BVN is a unique identity that can be verifi ed across the Nigerian banking industry, which protects customer bank accounts from unauthorised access, as biometric information is not easily manipulated, adding that it increases the effi ciency of the industry as it reduces incidence of fraudulent/ duplicate bank accounts, and easily highlights blacklisted customers.

He noted that full integration of BVN provides standardised effi ciency of banking operation, meaning that all banking operations will be verifi ed using the same method, reducing cases of human error or inconsistency.

He said the implementation of BVN means transaction authentication without the use of cards, but instead using only biometrics and a PIN.

“Bank customers should ensure that they do not respond to suspicious emails pretending to be from their bank and requiring them to provide sensitive information online.

“Customers should contact their bank directly if in doubt about how to enrol for their BVN”, he said.

Fatokun said because the BVN captures physical features, it is also very helpful for people who cannot read and write, thereby making sure that everyone is included in the fi nancial system, adding that it would help the banking system identify customers who have been blacklisted by one bank and who move to other banks to do business with them.

The CBN has directed banks to ensure that only customers with the BVN are allowed transactions valued at N100m and above from March 2015. The apex bank also stated that any bank customer without the BVN by June 2015 would be deemed to have inadequate Know Your Customer, KYC.

In the same vein Managing Director, NIBSS, Mr. Ade, Shonubi one enrolment, said “it process is simple and easy.”

Corroborating Fatokun he explained that bank customers are expected to walk into any branch of their bank, fi ll and submit the BVN enrolment form and also do data capturing, such as fi ngerprint, facial image.

He said an acknowledgment slip with the transaction identity is issued to the customer and that within 24 hours, the system confi rms the application, the BVN is generated, and SMS is sent to the customer for pickup.

Shonubi said a customer can only enrol once, while his BVN will be linked to all his bank accounts across Nigerian banks.

“The BVN solution is to ensure accountability, protect bank customers’ account from unauthorised access, reduce exposure to fraud, check identity theft, enhance credit advancement to bank customers, and also encourage fi nancial inclusion.

“It will make life and banking operations easy for bank customers as BVN is accepted as a means of identifi cation across all banks in Nigeria. This will improve speed of service and reduce queues in banking halls. At the point of enrolment individuals shall be required to submit an acceptable means of identifi cation, and update their information at the bank branch physically. Customers of banks will be required to enrol within a fi xed period after which they shall no longer be able to operate their bank accounts, “he said.

Also A fi nancial analyst and former banker with defunct Intercontinental Bank Plc, Mr Emeka Anaeto said BVN registration could be done at any of the selected bank’s branches but not necessarily restricted to where the customer’s account is domiciled.

Anaeto said the exercise is expected to achieve verifi cation and secure authentication of the identity of bank customers and ultimately serve as a means of authenticating customer’s identity at point of banking transactions.

“It gives bank customers a uniform and single identity called the BVN that would be acceptable across the Nigerian fi nancial system as all other bank accounts operated by the individual would be tied to it”, he said.

Business Courage was told that to tackle the problem of lack of awareness which many said was one of the reasons why the project was not speedily embraced by customers the CBN has stepped up its sensitisation campaign.

Director of Consumer Protection Department, CBN, Mrs. Umma Aminu Dutse, said the bank has embarked on serious fi – nancial literacy so that the people and public would understand not only what the was doing but is happening in the fi nancial sector.

Investigations reveal that banks have also intensifi ed efforts in communicating with their customers through text messages, e-mail verbal persuasion on the need to enrol for the BVN.

Customer care department of many often remind their customers on the need and benefi ts derivable from been enrolled

The Lift Above Poverty Organisation, LAPO, has disbursed N2.5bn loans to improve the food security and general living conditions of rural farmers in its 2014 fi – nancial year.

The fi gure represents 74 per cent increase over the sum of N1.4bn disbursed to them in 2013 under the LAPO Agricultural and Rural Development Initiative, LARDI.

The Executive Director, LAPO, Mrs. Sabina Idowu-Osehobo expressed delight that the benefi ciaries who were hitherto engaged in subsistence farming have expanded their farmlands, thereby, leading to improved income for family upkeep and savings for the future.

She said LAPO addresses challenges limiting farmers’ productivity and income such as non-availability of inputs for improved farm yield and limited access to fi nance, adding that the organization builds the capacity of rural farmers through on-farm demonstration, workshop and training programmes.

Most of the benefi ciaries, however, expressed their satisfaction with services provided by LAPO.

The goal of the programme, according to Idowu-Osehobo, is to improve the income, food security and general living conditions of poor rural households, particularly womenheaded households and youth.

Meanwhile, LAPO has screened 126,705 clients for Malaria, Blood Pressure ,BP, Hepatitis, diabetes and other ailments in 2014.

This, according to the organisation, was to improve early detection and management of common diseases in the country.

Health Manager, Ayobami Honestus Obadiora said those with special health condition were referred to government-approved health facilities for treatment, adding that Non-Communicable Diseases ,NCD, were responsible for about 20 per cent of all deaths and 60 per cent of admitted patients in most tertiary hospitals in Nigeria.

He advised the public to adopt healthy lifestyles and imbibe the culture of regular medical check-up for early detection of adverse health condition, noting that health education and screening constitute a major component of LAPO health intervention initiative.

Davebrook Digital PR Services on Friday announced the unveiling of Nigeria’s fi rst online newsroom services.

A digital platform designed to connect businesses in Nigeria with national and global publicity opportunities.

DavebrooPR online newsroom is a product of independent research and working with various clients over a 10 month period where we discovered a clear need by businesses to communicate beyond the known traditional boundaries of print and online. Business communication as at today needs immediacy of the news, through strategic audience targeting

According to DavebrookPR Chief Strategist, Adesida Oluwaseun, “The era of cumbersome approach to syndicating business communication is now over with the application of intelligent and interactive applications. Therefore, at the click of a button you could push your business messages to over 10,000 special interest journalists across Nigeria and in select countries especially in Ghana, South Africa, UK and United States of America.”

He revealed that Nigerian companies have global advertising exposure but critical and timely key messages are currently limited in reach and scope. This is the void that DavebrookPr has come to fi ll, with support services which includes, Enhancement Solutions, logistics, MediaVintage, with branded newsletter for all registered clients as a free service.

This service is in partnership with select media houses in Nigeria and some countries. However, the key consideration is that most of our media partners have audience pedigree that aligns with clients’ expectations especially in the area of Telecommunications, Banking, Oil and Gas, Manufacturing and FMCGs.

There are indications that all the noise about the growth of mobile fi nancial services in Nigeria may be a ruse, as latest study from a specialist mobile fi nancial services research company has revealed that Africans are yet to fully embrace this segment of fi nancial transactions.

The report, which was conducted by Mondato, a mobile fi nancial services research fi rm revealed that countries in East Africa like Kenya, Tanzania, Zimbabwe and Uganda seems to be ahead of other African markets where cash base transaction is predominant.

The report is coming few months after another report indicated that Nigeria is ahead of other countries in the adoption of eCommerce.

The report, which was published by Ipsos, a market research company, on behalf of PayPal said that Nigerians conduct more shopping online than other African countries.

The Ipsos study said intra-African trade was signifi cant with 36 per cent of Nigerian crossborder shoppers (those who have shopped online from another country) buying from elsewhere in Africa in the past 12 months, with South Africa being the main destination with 30 per cent of Nigerian cross-border shoppers buying from the country in the past 12 months. It is followed by Kenya with two per cent, Egypt with one per cent, and the rest of the continent with three per cent.

But Zimbabwe’s Econet Wireless said its mobile money platform, EcoCash accounts for 20 per cent of the country’s gross domestic product while M-PESA said its platform accounts for about two fi fths of Kenya’s GDP.

However, experts now doubt the signifi cance of these fi gures, saying this measure misses out on payments changing hands across the supply chain.

“GDP is simply a measure of gross value added, and therefore misses out on the many payments changing hands as inputs move through supply chains, with components bought and sold multiple times over,” said the report, titled Mondato

Experts at Mondato said the number of registered accounts in Sub-Saharan Africa has almost doubled over a two-year period but underscores that “adoption remains very “thin” and predominantly limited to airtime top-ups and person-to person, “P2P”, transfers.

According to Mondato, as a result of this, and putting aside airtime top-ups and person to person transfers, the Africa region “is in a very similar position to Europe, and parts of the Americas and Asia, where MFS is not achieving levels of use that were previously forecast”.

However, said the report, countries in Africa enjoy the advantage that the “greater proportion of the population has an evolving comfort for transacting over their mobiles” adding that most markets in the region also have fewer alternatives compared to their European and American counterparts, a situation that experts believe will help markets “overcome consumer behaviour” obstacles.

The report predicted that the mobile fi nancial services sector in Africa is poised to grow signifi cantly in the next four years, with person-to-business (P2B) transactions in Ghana, Kenya, Nigeria and South Africa poised to hit the $900 billion mark by 2018.

Mobile money platforms have taken off phenomenally, particularly in East Africa, but also in the South in countries like Zimbabwe. All have registered a surge in mobile money transaction volumes.

Experts at Mondato, said that the sector is still limited to person-to-person transactions, P2P, yet there is signifi cant room for raising wallet-to-bank and bank-to-bank transactions using mobile money platforms.

According to Mondato, the P2P mobile fi nancial transaction remittances “remain an important driver of consumer adoption in many markets” stating that “in total P2B transactions across Kenya, Nigeria, South Africa, Ghana and Tanzania are likely to grow by over 40 per cent up to 2018, from US$640 billion in 2013 to over US$900 billion.”

Recent development in the Nigeria have revealed that the country is steady on the growth of the mobile fi nancial services sector witnessing partnership between the mobile network operator and the fi nancial services companies.

United Bank for Africa,UBA recently with Airtel to provide mobile-based fi nancial services across Africa through Airtel Money. The Airtel Money is Bharti Airtel’s mobile commerce brand that enables subscribers to carry out fi nancial transactions directly from their mobile phones.

Under the Memorandum of Understanding ,MoU, signed, both companies will expand the range of innovative fi nancial services to their customers in the 12 countries where they are both present within Africa which include Nigeria, Ghana, Burkina Faso, Sierra Leone, Gabon, Kenya, Uganda, Tanzania, Chad and Zambia, Congo Brazzaville and Congo DRC.

UBA operates in 19 African countries, serving over 10 million customers while Airtel has presence in 17 African countries with over 30m registered mobile money customers. UBA and Airtel will jointly launch new mobile based fi nancial products and services that are relevant to customers with the objective of driving convenience to their combined over 30 million registered customers. These services include International Money Transfer services, Mobile Banking, Super Agency Services, and Payment Cards for their customers. The partnership will also facilitate cardless withdrawal services at ATMs, Mobile Savings and Loans. These initiatives are geared at improving convenience for their teeming customers across the continent whilst boosting intra-Africa trade and commerce.

Group Deputy Managing Director and Chief Executive Offi – cer, UBA Africa, Kennedy Uzoka while commenting on the development said the rich bouquet of mobile-based services, which will be introduced under the partnership will not only support fi nancial inclusion across Africa, but also improve trade and break barriers of doing business on the continent.

Director and Africa Head, Airtel Money, Chidi Okpala, said, “We are confi dent that the partnership will fast track our aspiration to deepen access to fi – nancial services, create cash-lite ecosystems and reduce cost of transactions across Africa.”

National telecoms carrier, Globacom has been on an aggressive massive recruitment of agents for its mobile money services known as Glo Xchange, which runs in partnership with Ecobank, First Bank, StanbicIBTC, and Zenith Bank in some major markets across the country.

According to the Head of Mobile Money Financial Business Department in Globacom, Esaie Diei, Glo Xchange is currently in Ibadan,Benin,Abuja,Port Harcourt,Lagos and other cities in across Nigeria.

Diei said that Globacom will recruit and train agents for Glo Xchange nationwide and provide its massive network of outlets pan Nigeria for the platform while the partner banks will provide their mobile money platform to mobile phone subscribers in compliance with the Central Bank of Nigeria’s policy on mobile payment.

And Diamond Bank as part of moves to strengthen its mobile fi nancial services introduced a fi ngerprint recognition feature on its Diamond Mobile App.

The service is an iOS Touch Identifi cation, which is a fi ngerprint reader that allows users of the mobile app an easy and seamless login to their accounts by simply recognising and identifying their individual fi ngerprints.

The Divisional Head, Corporate Communications of the bank, Ayona Trimnell, stated that the introduction of the feature would remove the burden of getting or having to remember the user ID and password for accountholders to log in for their respective business transactions.

She stated that the introduction is its commitment in offering technological solutions that make banking an exciting, convenient and secure experience for customers.

Similarly, Paga, one of Nigeria’s mobile payment companies announced a new customer transaction channel – Paga for Android in a bid to make payment more accessible for its users.

The fi rm application, which is available for download at Google play store is designed by Paga’s in-house technical team, and gives users direct access to Paga services from any android device.

In addition, with limited reliance on Internet, low data consumption and network connectivity the application, according to the fi rm, had been positioned to provide users with a better and faster experience.

Head of Consumer Business at Paga, Daniel Oparison said Paga service offerings are carefully designed to respond to customer’s pain points saying that this additional channel simply reinforces commitment towards eliminating the stress of traffi c, bank queues or carrying cash around.

“Paga for Android is designed to put the power back in the hands of the consumer; by giving them the freedom to pay their bills, buy airtime, and send money to bank accounts and much more, on the go.

“The ability to solve issues around payments unique to our region of the world, is one of the many reasons Paga continues to be the number one option for millions of Nigerians looking for simple solutions to pay and get paid.”

Furthermore, the statement stressed that in line with the company’s promise to deliver accessible payments options, the application allows users to transact with a debit card.

They can also use the app to send money or airtime directly to contacts on their phones list; or fi nd their nearest Paga agent, it added.

Commenting on why Paga introduced the additional transaction channel to the market, the company’s Founder/CEO, Tayo Oviosu said: “Paga for Android brings a world of convenience to the fi ngertips of every Nigerian with an Android phone. I am very excited about that and about the various payment innovations we plan to bring to the market.

The annual headline infl ation rate for the month of January, 2015, which dropped to 4.0 per cent from the 4.8 per cent recorded in December 2014, has been attributed to the fall in food prices.

The National Bureau Statistics, NBS, Director for Population Census and Social Statistics, Ephraim Kwesigabo, said the drop in infl ation was directly linked to fall in prices for both food and nonfood items, as the food and non-alcoholic beverages infl ation rate decreased to 4.9 per cent in January 2015 from 5.7 per cent recorded in December 2014

Kwesigabo stated that the decrease of annual headline infl ation rate for the year ending January, 2015 shows that the speed of price increase for commodities in the year ending January 2015 has further decreased compared to price increase rate recorded for the year ending December 2014.

He mentioned some food items that contributed to such decrease as Maize by 13. 3 per cent, Maize fl our by 6.2 per cent, Fish by 7.9 per cent, Banana by 11.3 per cent and Cassava by 12.0 per cent.

He also said that some of the non-food that attributed to the decrease includes kerosene by 8.4 per cent, diesel by 10.2 per cent; petrol by 6.8 per cent and gas by 2.9 per cent.

“The overall index went up to 152.43 in January 2015 from 146.60 recorded in January, 2014 while the annual infl ation rate for food consumed at home and away from home has also decreased signifi cantly to 5.0 per cent in January, 2015 from 5.7 per cent compared in December, 2014,” he said.

He added that the 12-month index change for non-food products has decreased to 2.7 in January, 2015 from 3.6 per cent recorded in December 2014.

“Annual infl ation rate, which excludes food and energy for the month of January 2015, has decreased to 2.8 per cent from 3.1 per cent recorded in December, 2014,” he said, adding that the purchasing power of 100 Tanzanian shillings had reached 65/60 cents in January 2015.

Sterling Bank Plc said it has increased the minimum amount for online “quick cash” from N3, 000 to N10, 000, while targeting 6000 benefi ciaries for the current year. The said it disbursed over N5m to over 2000 on-line customers within six months of its introduction and that 90 percent of the amount advanced has been paid back by the benefi ciaries.

According to the bank Social Lender; the fi rst in Nigeria is a modifi ed peer to peer lending solution using the Social Media Platforms through which micro-credit is offered to members of these communities. The scheme provides a platform for online followers who are customers of Sterling Bank to obtain these monies via social media channels such as Facebook and Twitter.

The Bank’s Group Head, Strategy & Communications, Shina Atilola who disclosed this at the weekend explained that the scheme was repackaged because of its success story for the Bank, the quality of feedback from members of the on-line community and the impressive pay back rate of the benefi ciaries.

He explained that the Bank has taken the decision to increase the minimum amount for lending because “our target market has been faithful to the terms of the agreements reached during the launch phase, they have been faithful with repayment and this has inspired confi dence.”

The Scheme according to Atilola has integrated with existing fi nancial structures of the Bank such that users of the online platform now access quick cash by normal methods of withdrawing cash. These funds according to him are easy to access and delivered via convenient platforms.

Recently, I read a story shared by Robert I. Sutton about the Karl Weick research on the death of fi re fi ghter team in America.

Robert shared that Weick read a book title Young Men and Fire and was fascinated with people and teams that battle forest fi res. In Weick research and readings, he discovered that a close related reasons explained why the death of two different teams of fi re fi ghters battling a blaze at Canyon, Colorado, although about 50 years apart.

“In both cases, these 23 men and four women were overrun by exploding fi res when their retreat was slowed down because they failed to drop the heavy tools they were carrying… All 27 perished within sight of safe areas.”

What a tragedy! They died because they held on to their thought of not losing the heavy equipment. I personally believe that none of these fi re fi ghters preferred death to life in the business of fi re fi ghting. The challenge was that their mind did not let go of the burden that slowed down their retreat.

Dear entrepreneur, sometimes, your best tool, strategy, business model and team of past success in business can become the burden on your journey into preferable future. Often time, your team of directors or workers might fi nd it diffi cult to let go of what has worked in the time past and especially when they close their mind to question of its relevance in the present business environment.

In the word of Robert I. Sutton, “Weick view this reluctance to drop once-and usually-helpful tools as an analogous to many decisions in organisational life”

Among entrepreneurs I have sampled in Nigeria, it is their inability to modify an ingrained mindset among the working team members that results into business failures. I believe what is important for organisation leader and the team of workers is to develop ability for success habit. Success habit learns, renew and improve mind often. An illiterate of 21st century is not the person who cannot read and write but the person who cannot learn, unlearn and relearn- says Alvin Toffl er.

One of my clientele whose case is recent but improving very rapid is the CEO of Charis Flavours Food, Maureen. The company is a small size of six staff but with capacity for 20 staff and a noticeable presence in plantain chips packaging business in Lagos, south west Nigeria.

While we had an executive session on Business Performance Improvement (BPI), we realised that the market success of the company in the last seven years was beginning to nosedive and fast. Among the factors we discovered for such was the reluctance of the CEO to let go of her certain technical role and energy that confl icts with the most important role in the business growth stage. The technical role burden impeded the strategic role that will drive up the market share. We simply recommended better system development and effective leadership development with ability to attract talents and retain them. Today we see more hope as she implement the recommendation.

The fact is that, the team that started a business is not always qualifi ed to sustain the business growth except for the improvement of the thinking beyond the startup mindset at which the business started.

Entrepreneur responsibility is to spread the beliefs that promote creativity among team members. The question would then be how does one improve the team thinking?

First:

Incorporate “Think” into fabrics of the corporate values

Either as a written value or unwritten value, to improve thinking ability always should be common and practicing values among the team members.

One of the popular words among every team member who works in various division of Toyota Automobile corporation is good thinking. “Good thinking; good product”

Every valuable organisation does have set of values that spread among every worker in the organisation. The aggregation of values forms the organisation behaviour and culture. I will encourage that you inject the belief that productive thinking has reward for every member of the oraganisational team.

“As a man thinks so is he”- King Solomon David

Second:

Reward productive thinking

Whatever you tolerate, you cannot change. It is very important to be deliberate about rewarding the effective habits that are results of good thinking value. The importance of deliberate reward is to expand the circle of such infl uence for productive thinking among members of the team. Your reward could be in form of recognition, award, shares, cash, holiday, and training sponsorship. The most important part of the reward processes is communication. Communicate to everybody within the organisation that you place premium value on productive thinking. Reward motivates people to stretch their personal and team potentials to think through solution.

Third:

Encourage personal development

The belief of an average Jew is that “Wealth is portable; it is knowledge”. I love the Jews for different reasons and among is that they value personal development above everything that is tangible. Their respect for intangible values above the physical material has given them leverage in every sphere of infl uence.

It will be obvious in the thinking and talking of anyone who is committed to personal development. The reason is that the evidence of growth is in the qualitative conversation.

The differentiator between a child and adult is the communication. This will also mean maturity is recognise by what people say and do. Both are result of thinking and mental development.

When your team members are not talking solutions and possibilities but problems and challenges then it is obvious that personal development is lacking. Therefore encourage them to attend soft skills training, read books and biographies of “Movers and Shakers” in product developments, organisational changes and other relevant areas of the business.

Please don’t be tempted to assume some members of your team can not learn. Find out about their learning styles because someone ways of learning might be visual and you can organise for business fi lms or visual documentary.

Fourth:

Encourage share thinking

“Iron sharpens iron”-King Solomon David

Thinking can be sharpen when team members share their thoughts with one another and allow different perspective on the subject matter. It is possible for a mountain climber to tell the story and geology of the exposure from the point of his view until another climber who climbed the same mountain from another side share his story that both can have a better understanding of the value of that mountain.

Lastly, my encouragement is for you to take deliberate steps, make policy and provide infrastructure that will help improve the thinking ability of everybody who works in your enterprise. The presence of poor thinking person who have only worked one day in your establishment can ruin the one-decade effort that built the business. You will excel in your business.

Join me on this column next Monday as we continue on the Improvement series.

With an endeavour to provide the best and most the comprehensive products in India, Mercedes- Benz recently launched the New C-Class in its much awaited diesel variant.

The new C 220 CDI Avantgarde and the new C 200 Avantgarde (CKD) were launched by Eberhard Kern, Managing Director & CEO, Mercedes-Benz India and Piyush Arora, Executive Director, Operations, Mercedes- Benz India at Mercedes-Benz India’s Centre of Excellence in Pune.

Prices start just under $38,400, making the C-Class slightly more expensive than the outgoing model, and slightly pricier than the competition. The new C-class heralds a new era in the Mercedes-Benz success story and sets new standards in the premium medium-sized category.

It is the fi rst car to be built using Mercedes’ new rear-wheel drive architecture (MRA). This uses around 50 per cent aluminum in its construction – up from 10 per cent before – and cuts 70kg from the body. Other weight savings mean the new CClass weighs around 100kg less than previously, which all helps improve the driving experience.

The big selling engine is expected to be the 2.1-litre diesel in the C220 and C250 BluTEC, which provides plenty of power and competitive claimed fuel economy fi gures. However, it’s carried over from the previous car and remains pretty gruff and noisy.

The C-Class’ upmarket atmosphere is spoiled when you twist the key and Mercedes’ ageing diesel rattles into life. The 2.1-litre engine fails to settle down on the move, either – it sounds strained when extended and drones on the motorway.

The new C-Class is a bold departure from its predecessor. Its striking and dynamic design clearly exudes sensuality and arouses the emotions. The hallmark proportions of the Mercedes saloon are seen in the long bonnet, the far-sitting passenger compartment and the short overhangs. From the sides, dropping lines also highlights a typical Mercedes-Benz signature.

The automobile offers two different front-end designs: the bold sports grille with the central star for the Avantgarde and standard design line, and the classic radiator grille with the central atop the bonnet for the Exclusive design line. front-demonstrate the effortless superiority of the Mercedes-Benz design.

The new C-Class diesel will now be available in the C 220 CDI STYLE and C 220 CDI AVANTGARDE, while the locally manufactured C-Class petrol will be available in the C 200 AVANTGARDE variant, at dealerships across India. The diesel variants of the new C-Class will be available as completely built units only.

The new C-Class has created a new benchmark in its segment with its modern, aesthetic design, high-class interiors and cuttingedge technology. Its features include exemplary safety and high effi ciency, while boasting of sporty and agile handling. These class leading features have also made the car a favorite with the critics and jury members of the prestigious automotive awards in India this year.

“With the launch of the C 220 CDI we now present the complete portfolio of the new generation C-Class to our customers. The commencement of the local production of the new C 200 Avantgarde petrol within three months of its India debut, reiterates our commitment of providing our customers fascinating products which are made in India.” Eberhard Kern, Managing Director & CEO, Mercedes-Benz India said.

The new C-Class’ 4-cylinder diesel engine is the most fuel effi cient in the segment with a fuel effi ciency of 19.27 km per litre. Together with a large fuel tank capacity of 66 litres it gives the customers freedom to explore places around them without worrying about frequent trips to the fuel station. The engine also boasts of ECO start/stop function which helps in saving fuel and reducing emissions. The engine produces 125 kW at 3000-4200 rpm with a maximum torque of 400 Nm between 1400-2800 rpm, which is highest in the segment. It accelerates from 0 to 100 kmph in 7.4 seconds with a top speed of 233 kmph.

Drive mode selector (AGILITY SELECT): At a touch of the Drive Mode Selector, drivers can choose between Comfort, Economy, Sport, Sport+, or Individual driving modes. Parameters such as the engine, transmission and steering characteristics are adjusted according to the selected transmission mode. In the ‘Sport and Sport+’ modes the driver can experience added agility and dynamism, thanks to a more direct characteristic steering curve, spontaneous throttle response and modifi ed shift points, providing an exciting and engaging driving experience.

Mercedes-Benz has also commenced the local production of the petrol variant of the new CClass which was introduced last year as a CBU. In keeping with the global availability constraints for the new C-Class owing to the overwhelming demand across the world, the petrol variant was introduced last year.

“The new C 220 CDI redefi nes the segment completely and offers the customers who prefer a diesel mill, an unparalleled luxury product experience. The new C-Class’ character defi ning emotional and clear design and high-quality interior provides the unmistakable feeling of modern luxury. The effi cient and highperformance engineering incorporated in this car delivers a higher level of driving pleasure. For instance, the new C 220 CDI combines the driving pleasure of fi ve different cars into one with its innovative Drive Mode Selector (Agility Select) function. The C 220 CDI also offers the best fuel effi ciency and the highest torque in the segment which will add great value to our discerning customers. The C-Class perfectly refl ects our ‘Live the Best’ philosophy, which is to delight our discerning customers by providing them with value added new product offerings.” Kern further added.

Driving Performance

The powerful motor coupled with a 7-speed automatic transmission combines a high level of comfort with driving pleasure and effi ciency. It impresses with smooth operation and rapid gear shifts. At the same time, the 7G-TRONIC PLUS transmission contributes to reducing fuel consumption and emissions.

Higher Ground Clearance: The C-Class is equipped with a suspension specifi cally designed for India. This results in improved comfort on Indian roads and a greater ground clearance.

Long Wheelbase: Through its long wheelbase of 2840 mm the new C-Class will provide its passengers with better ride comfort, great handling and stunning driving performance differentiating it from its competitors. The long wheelbase will also offer passengers (especially in the rear) more legroom and therefore assures a more comfortable ride for all passengers.

Cruise Control: Cruise control with SPEEDTRONIC allows relaxed, economical driving particularly on long journeys. In addition to the desired cruising speed, an individual maximum speed can be set e.g. to be sure of obeying speed limits.

Aerodynamics: Wind resistance is a principal factor in achieving fuel consumption reduction and the reduction of CO2 emissions. With extensive aerodynamic and aeroacoustic development work the new CClass boasts of an impressively low drag coeffi cient of Cd = 0.26 and further noise reduced interior for a more comfortable driving experience.

Exterior – Sensuous clarity and purist forms

The new C-Class represents a bold departure from its predecessor. Its emotional, sensuous surface geometry makes it appear muscular and full of character. At the same time the design showcases the high-tech character in a purist, clear and exciting fashion. The front end, the three-dimensional radiator grille and the clearly traced headlamp contours mould the ‘face’ of the new C-Class – strong in character and brand-typical. The AVANTGARDE exterior design includes the sports grille with twin louvres, which emphasises the long bonnet and therefore the vehicle’s powerful and dynamic nature.

Longer, wider and lighter than its predecessor, and featuring sculptured and sensual design lines not unlike those of the SClass, the new Mercedes-Benz C-Class has grown up. The clear design emphasising width and the powerful shoulders give the new C-Class a decidedly athletic appearance from the rear. A soft edge which merges into the tail lights accentuates the indent in the C-pillar which is essential for the powerful shoulder. A strongly vaulted spoiler lip on the boot lid has a positive effect on the cd value, and also characterises the appearance.

With the dynamic LED headlamps with LED Intelligent Light System the main headlamps feature two newly designed modules. The up-to-date design with inward running contour creates a brand-moulding element with the functions “direction indicator”, “position light” and “daytime running lamp”. Their characteristic night design lends the new C-Class its very own distinctive look in the dark, too. The tail light cluster features a modern twintorch- effect design with all light functions making use of LEDs.

Interior – Upgrade inside

The cockpit and passenger compartment come across as clear, sensuous and with a host of new unusual styling details. Clarity stands for visible hightech attributes and straightforward sportiness – purism in the best sense of the word. Sensuousness stands for design ideas with exciting fl owing shapes and high-grade materials – a reinterpretation of contemporary luxury. Electrically adjustable “Cobralook” front seats with an organic, sporty design and integral head restraint are fi tted into the allnew C-Class. The seat adjustment range compared with the W204 series has been enlarged by 10 mm in height and by 6 mm in the lowest seat position and allows even more individual adjustments. The seats are covered with full ARTICO leather. Highstrength steels and intelligent lightweight construction are the technical distinguishing marks of the sturdy rear seats. Their newly designed seat cushions furthermore enhance the comfort for the rear-seat passengers who also enjoy considerably more legroom and knee room.

The interior skilfully combines the architecture of the Mercedes- Benz sports cars with a newly interpreted, sporty and fl owing centre console design. The sportily designed, width-emphasising dashboard is optically divided into lower and upper sections which are separated by a trim strip. The newly integrated control and display system is consistent with the Mercedes-Benz operating philosophy.

This multimedia system combines entertainment, information and communication: The new generation Audio 20 CD with touchpad features now an entirely new designed user interface and graphics, 3D navigation and also allows networking with mobile devices via Bluetooth®. User-friendly navigation, precise map data and excellent route guidance with the Garmin® MAP PILOT brings all the familiar benefi ts of a Garmin® navigation system to the Audio 20 CD with touchpad. It’s all done by simply inserting an SD card with navigation software and map data sets. The infotainment system is also capable of connecting to the internet with a Bluetooth® and data-enabled mobile phone. Mercedes- Benz Apps such as Mercedes- Benz Radio can be used even while driving.

The interior of the new CClass provides an ambience that enhances the overall experience of the occupants, with 3 colour ambient lighting, Reversing Camera, Panoramic Sliding Sunroof, KEYLESS GO starting function, spacious and illuminated boot with a total capacity of 480 litres. The rear seat backrests can be split-folded into a 40/20/40 ratio.

Safety and Assistance Systems

The integral safety concept from Mercedes-Benz groups together all active and passive safety components into a well thought-out system – for the safety of the vehicle occupants and other road users. It brings the vision of accident-free driving another step closer for the designers. More than ever before, it meets the requirements for a high level of vehicle and road safety, based on what actually happens in accidents.

With new and extended functions, in addition to the standard safety features such as ABS, BAS, ESP, ASR, Hill Start Assist, etc., the C-Class remains the leader in terms of measures designed to guard against danger and initiate protective measures. ATTENTION ASSIST is able to warn the driver when it detects typical signs of drowsiness in steering behaviour. Adaptive High Beam Assist Plus allows the high-beam headlamps to be kept on permanently since oncoming traffi c or vehicles in front are masked out in the beams’ cone of light. PRE-SAFE® system comes with belt tensioners for driver and front passenger seats, closing function for side windows and panoramic sliding sunroof and positioning of front passenger.

The National Cashew Association of Nigeria, NCAN, has urged the Central Bank of Nigeria, CBN, to rescind its new policy on the utilisation of export proceeds.

The CBN’s new policy mandated exporters of nonoil commodities to repatriate their proceeds into their various domiciliary accounts within 180 days, and pegged their exchange rate at N200 to a dollar, a rate lower than what is obtained in other exchange market windows as complained by the exporters.

The National President of the association, Tola Faseru, said the new policy is inimical to the economy as a whole as the exporting sector, which has been described as the main nation’s economic sustainability may collapse.

Faseru, who claimed that agricultural commodities constitute more than 81 per cent of Nigeria foreign exchange, said the sector is exposed to a great risk with the new policy and may worsen the economic situation of the country.

He said the policy is not in tandem with the Agricultural Transformation Agenda, ATA, of the Federal Government.

“The new policy, mandating the exporters to change our legally earned dollars at a fi x rate lower than what obtains in other windows and black markets, is inimical to our economic diversifi cation and not in line with Agricultural Transformation Agenda of the Federal Government. The implication of the policy is to encourage importation over exportation, turning the country into a full importdependent nation.

“When we are talking of foreign exchange, we are talking of agricultural commodities because we don’t have any other things to export than these commodities. If we kill it through policy summersault, then our economy is in great danger.

“We want the Federal Government to revisit this policy and intervene by directing the CBN to revert it and make it as it was made in 2006. This is the real time we need to encourage foreign exchange to rescue our dying economy.”

Faseru, who noted that about 13 new agricultural commodities have being discovered, which could aid the economic diversifi cation, maintained that there are still more yet-to-be-tapped commodities that could boost the Nigeria’s foreign exchange. He stated that cashew alone generates about $200 million income annually. He added that between 2006 and 2015, agricultural commodities have generated about $5 billion as foreign exchange.

President of Federation of Agricultural Commodity Associations of Nigeria, FACAN, Dr. Victor Iyama said it is a way of trying to dollarise the nation’s economy, which is a worst thing that can happen to the economy. He said more jobs would be lost as more than 205 exporters may be forced out of the business due to the policy. He said everybody along agricultural value chain including the farmers would be adversely affected by the new policy.

In spite of the fact that Pension Act 2014 provides mechanisms for effective management and payment of pension to retirees on a sustainable basis, the implementation of the Act has been hallmarked by violations of its provisions, including late or sometimes, non-remittance of employees’ contributions, by some employers. In this report, Udo Onyeka captures the issues, twists and turns of the scheme’s implementation so far

The Pension Act 2014 signed into law on July 1, 2014 which repeals the Pension Reform Act 2004, serves as the enabling legislation for the administration of the Contributory Pension Scheme, CPS, in the country. The new Act has some major amendments which were targeted at tackling some of the hindrances and shortcomings of the Act 2004.

One of the intentions of the legislation is to alleviate the sufferings of the Nigerian employees by creating a post-retirement savings pool from which they could draw and by so doing, provide them a fi nancial life-line in their old age.

Section 11(6) of the new Pension Act states that “Any employer who fails to deduct or remit the contributions within the time stipulated in subsection (3) (b) of this section shall, in addition to making the remittance already due, be liable to a penalty to be stipulated by the Commission.”

Subsection (7) of the same section that “the penalty referred to in subsection (6) shall not be less than 2 per cent of the total contribution that remains unpaid for each month or part of each month the default continues and the amount of the penalty shall be recoverable as a debt owed to the employee’s retirement savings account, as the case may be.”

In accordance with the Pension Reform Act, 2014, a holder of a Retirement Savings Account, RSA, shall, upon retirement or attaining the age of 50 years, whichever is later, utilise the amount credited to his RSA for the following benefi ts; withdrawal of a lump sum from the balance of his/her RSA provided that the amount after the lump sum withdrawal will be suffi cient to procure a programmed fund withdrawals or annuity for life in accordance with guidelines issued by the National Pension- Commission.

The Act also made room for programmed monthly or quarterly withdrawals calculated on the basis of an expected life span; annuity for life purchased from a Life Insurance Company licensed by the National Insurance Commission with monthly or quarterly payments in line with guidelines jointly issued by the National Pension Commission, PenCom and National Insurance Commission.

Also where an employee voluntarily retires, disengages or is disengaged from employment before the age of 50 years, the employee may, with the approval of the Commission, withdraw an amount not exceeding 25 per cent of the total balance of his RSA provided that such withdrawals shall only be made after 4 months of such retirement or cessation of employment.

Despite the good intentions of the Act and its specifi c provisions, investigations by Business Courage reveal that as with other enabling laws in Nigeria, the implementation of the Pension Act 2014 has been characterised by non-compliance by employers, leaving thousands of employees without much hope about what life- after-work holds for them

Even though the new Pension Act is less than 12 months, analysts are divided over the performance. While many say it was too early to assess whether it has been able to address the fl aws in the 2004 Act, others believe that from July 1, 2014 when the president signed it into law a lot has happened.

Many stakeholders believe that the rate of default by employers in the scheme have continued to increase by the day with most analysts attributing this problem to PenCom’s, inability to enforce the Act to the letter.

Business Courage gathered that pension contributions of over 130,000 workers registered under the CPS were not remitted monthly to their respective Retirement Savings Accounts, RSA, by their employers.

Figures on the quarterly RSA registration from the Commission, show that the number of registered workers rose from 5.04 million in the fi rst quarter of 2012 to 6.12 million in the second quarter of 2014.

According to PenCom, 4.9 million remittances went into the workers’ RSAs by employers on the average in fi rst quarter of 2012, while 6.02 million remittances were made in second quarter of 2014.

The commission said on the average, the accounts of 130,000 workers were not being funded by their employers.

PenCom also disclosed that the number of RSAs grew to 5.16 million, 5.27 million and 5.39 million in the second, third and fourth quarters of 2012, while only the contributions of 5.04 million, 5.16 million and 5.27 million employees were remitted to the accounts during the periods under review.

The Commission explained that 5.51 million, 5.6 million and 5.82 million RSAs existed in the fi rst, second and third quarters of 2013, while pension contributions were credited to only 5.39 million, 5.51 million and 5.65 million accounts during the periods.

Also in the fourth quarter of 2013, 5.91 million RSAs existed, while the fi gure moved to 6.02 million in the fi rst quarter of 2014, but only 5.78 million and 5.92 million of the accounts were funded during the periods.

The PenCom fi gures indicated that while the average of 55.5 million RSAs were enrolled during the 16-month period, only 54.2 million workers got their contributions remitted to their RSAs, indicating that on the average, 130,000 workers’ accounts were not being funded on a monthly basis.

According to a source close to PenCom it was because such abuses that the Pension Reform Act 2014 empowers the commission subject to the fi at of the Attorney General of the Federation, to institute criminal proceedings against employers who persistently fail to deduct and/ or remit pension contributions of their employees within the stipulated time. “Employers should note that failure to remit pension contributions is now a serious offence in the country”, the source said.

A legal practitioner based in Lagos, Fidelis Usifo, emphasising on Section 11(6) of the new Pension Act which said “Any employer who fails to deduct or remit the contributions within the time stipulated in subsection (3) (b) said that the Act has empowered the commission to fully supervise the management the Pension fund professionally.

According to him the 2014 Act also states that every employee is required to maintain a Retirement Savings Account, RSA, with any pension fund administrator of their choice. However section 11(5) of the new Pension Act compels an employer to open a Temporary Retirement Savings Account, TRSA, on behalf of an employee who failed to open a RSA within six months after assumption of duty. “This was not provided for under 2004 Act.

“The provision is meant to take care of situation where some employers who are complying with the provisions of the Pension Act still have unremitted pension contributions due to the failure of some of their employees to open RSAs”, Usifo said.

According to PenCom the TRSA would be a temporary measure pending the opening of an RSA by the employee. Analysts have said this provision is meant to discourage employers who hold on to workers’ pension contributions on the ground that such employees have not open RSAs with the PFAs of their choice.

There are reported cases where employees resist their employers from deducting from their salaries for the purpose of the CPS.

Such persons it was gathered do not have faith in the RSA and even with PenCom. They are sour afraid of what might be their fate if and when they retire and could not assess the savings.

Business Courage was told that as at August 2014, PenCom had recovered N3.4bn monthly pension contributions of workers, but which were not remitted by the employers to the employees RSAs.

PenCom said Agents employed by the commission successfully recovered unremitted monies from the defaulting employers.

The commission engaged the recovery agents to go after employers, who were notorious for defaulting in the remittance of the monthly contributions of the workers to their respective Pension Fund Administrators as at when due.

According to PenCom, the employers were fi ned huge sums in addition to paying the outstanding contributions.

PenCom said that it had employed different approaches to persuade the employers to embrace voluntary compliance with the provisions of the law regarding remittance of pension contributions through public enlightenments, media campaigns and collaboration with regulatory and professional bodies.

“Other means employed include engagement of consultants, disclosure requirement and issuance of compliance letters, fi nancial literacy and enforcements.

Director General, PenCom, Mrs. Chinelo Anohu-Amazu, said the commission had earlier issued demand notices to errant employers, whose liabilities were established by the recovery agents, to remit the outstanding pension contributions and interest penalties into the RSAs of their employees.

“In line with this directive, some defaulting employers remitted outstanding pension contributions and interest penalties into the RSAs of their employees,” she said.

Anohu-Amazu said interest of about N183.61m was received from the remittances.

PenCom, she said has scaled up its compliance and enforcement strategies in order to ensure adherence with the Pension Reform Act, 2014.

According to her sanctions have been applied and would continue to be meted out to defaulters in line with the compliance framework.

The Director General said the commission had engaged in public enlightenment programmes as well as partnered with several stakeholders to ensure compliance with the law.

“The commission received applications for issuance of compliance certifi cates from private sector organisations. Some were issued; others were turned down due to various inadequacies.

“These inadequacies included such issues as non-remittance of pension contributions for the appropriate period and non-provision of group life insurance policy for their employees,” she said.

The amended PRA, 2014, reviewed some obsolete provisions in the law to beef up the regulatory powers of PenCom.

Anohu-Amazu had canvassed more empowerment of the commission during the amendment of the PRA 2004, because sanctions provided under it were no longer suffi cient deterrents against infractions of the law.

While assuring of the safety of the PenCom fund, she task employees whose contributions were deducted but not remitted to report to the commission.

According to a Lagos based fi nancial analyst and Managing Director Royalty Consulting services, Pius Iji, the contributory pension scheme is aimed at helping people save and plan for their retirement to avoid old age poverty and dependency.

“It is not a short or mid-term venture, but a long term aimed at ensuring people who can no longer work still live a comfortable life.

“PenCom should ensure that the operators strictly follow the laid down rules and guidelines of the commission. The contributions are supposed to be automatically debited from the salaries of contributors at the end of each month by employers and remitted to their pension fund accounts.

He said PenCom must also ensure accountability and transparency in managing and investing the through demanding and receiving feedback and reports from operators detailing how contributors’ funds have been managed and invested, while heavily sanctioning erring operators.

However a peep into the new PenCom Act shows that the scope of participation of the contributory pension scheme for employers in the private sector has been reduced from minimum of fi ve employees to three employees, which enables wider participation for the informal private sector, such Micro Enterprises and Cottage fi rms.

There is also an increase in the rate of contributions. Under the new Act, employers are to contribute 12 per cent of the monthly emolument which was previously 7.5 per cent, and the employees on the other hand are to contribute 8 per cent which was previously 7.5 per cent. For an employer that bears the total pension contributions of its employees they will be expected to make20 per cent contribution.

PenCom has been empowered to institute criminal proceedings against employers for persistent refusal to remit pension contributions subject to the fi at of the Attorney General of the Federation.

The Kasapreko Company Limited, producer of the multiple awards-winning medicinal alcoholic beverage, Alomo Bitters has said its strategic efforts aimed at helping consumers to differentiate the authentic Alomo Bitters easily was the reason for the introduction of hologram on its seal cap bottles.

Speaking at the unveiling of the new look Alomo Bitters in Lagos, the Managing Director, Kasapreko Company Nigeria Limited, Mr. Kojo Nunoo said the introduction of hologram seal on the caps is one of the initiatives by the company to checkmate criminal faking of Alomo Bitters by unscrupulous profi teers and to protect consumers against the consumption of substandard bitters products, which endanger human life.

According to Nunoo, with the introduction of the more fortifi ed new hologram seal caps, lovers of Alomo Bitters can now continue to enjoy their favourite medicinal herbal drink that comes in the 75 centilitre glass and 200 milimetre pet bottles.

The Hologram seal is a silver-like shining seal, which is similar to that found on the non-polymer Nigerian Naira notes, and it has been strategically positioned on the cap of every bottle of Alomo Bitters for easy identifi cation of the authentic bitters brand as against the imitation.

The refreshed packaging for Alomo Bitters, according to him, is also aimed at empowering consumers to have access to genuine Alomo Bitters at all times adding that it further demonstrated the company’s care for the consumers and their safety.

“This initiative is a security standard for global brands, and essentially it is meant to ensure clear brand differentiation and to highlight the unique features that distinguish Alomo Bitters from the imitated version and other substandard bitters products in the market,” Nunoo said.

He added, ‘‘criminal faking of the original Alomo Bitters has been a major challenge we face in Nigeria. As a company that places priority on the wellbeing of our consumers, this bothers us a lot. Hence, the launch of the new hologram is aimed at helping the consumers identify the authentic Alomo Bitters when making purchase.’’

Buttressing the process involved in having the hologram security features on the caps of Alomo Bitters bottles, Nunoo said the company went as far as Germany and the United States to get reputable hologram seal companies to create the unique hologram for the brand.

“This is how much we value the wellbeing of our consumers,” he stressed.

The Head, Consumer Prospection Council (CPC), Lagos offi ce, Mr. Tam Tamunokombia commended Kasapreko Company Nigeria Limited for rising up to the challenge of protecting consumers of their product, Alomo Bitters.

“We congratulate Kasapreko for this effort because apart from protecting consumers this gesture would also check activities of counterfeiters which is defi nitely affecting the market share of the brand,” he said.

According to Tamunokombia, “CPC is charged by the federal government with the responsibility of attending to consumers complain and also protecting consumers from activities of importers and manufacturing of substandard products and counterfeiters of existing ones”.

Special Guest and Special Adviser (Commerce and Industry) to the Governor of Lagos State, Mr. Seye Oladejo, commended Kasapreko for taking another bold step in consumer protection, and said the dangers of consuming counterfeit and substandard products were numerous among which were ill health and loss of life.

“Protection is a mutual thing, while you are protecting the consumers; you also protect your investment from especially from undue legal actions.” He said.

However, Oladejo called on Kasapreko to fast track the process of establishing its manufacturing fi rm in Nigeria in order to create job for Nigerians.

“Since Alomo Bitters has a big market share in Nigeria, it is important to also start manufacturing the brand here in Nigeria. The Lagos State Government is developing large Agro – Industrial Parks in Imota, Ikorodu and Ilara, Igbonla Epe to provide the much needed support for companies like Kasapreko to manufacture here in Lagos.

“With the hologram seal now on the caps of Alomo Bitters, I am confi dent to state that consumers will not only continue to enjoy their favourite medicinal Alomo Bitters, but they will also remain healthy and safe,” he said.

Speaking on the rationale for the new Hologram seal, the Marketing Manager, Kasapreko Company Nigeria Limited, Mr. Peter Adegor, said the need to protect Alomo Bitters brand equity and to continue to guarantee consumer safety were paramount to the management of the company.

He informed that while between 2011 and 2012 Alomo Bitters accounted for about 80 per cent of the bitters market share, the position of the brand has been threatened by the devilish imitation of the original product which made it diffi cult for the consumers to distinguish their favourite Alomo Bitters from the fake.

“We need to exterminate this fear and reassure consumers that they can still enjoy their favourite Alomo Bitters. The launch of the hologram seal, therefore, speaks to our determination to make our consumers continue to live healthy and active lives by having access to genuine and authentic herbal drink they have always stayed with, which is Alomo Bitters,” Adegor said.

While the Alomo Bitters is available in 75 centilitre glass and 200 milimetre pet bottles, Kasapreko’s MD warned that any Alomo Bitters in 100 milimetre is obviously fake, as the company had deliberately avoided producing such to differentiate it from other inferior bitters in the market.

He was not born with a special socio-economic advantage over his peers as a child. In fact, family finances were not adequate to see him through secondary school. But through a rare combination of courage, industry, discipline and determination, he rose from a mere shoe trading apprentice at age 17 and later into patent medicine business. The drug-dispensing store he started in 1984 with N10, 000 has transformed today into a multi-million naira pharmaceutical company. This is the story of Dr. Obiora Anthony Chukwuka, founder and Executive Chairman, Greenlife Pharmaceuticals Ltd

Based on his current achievements as an entrepreneur, one may be tempted to see him as one of those entrepreneurs born with the proverbial Silver spoon or probably that he inherited the business from his parents.

However, for Anthony Obiora Chukwuka, Founder and Executive Chairman, Greenlife Pharmaceuticals Ltd, Sea Green Pharmaceuticals Ltd. and St. Anthony’s Event Center Ltd, his emergence into the entrepreneurial terrain was purely a divine circumstance.

In a recent interview with Business Courage, Chukwuka admitted that the story of his life is “replete with many divine interventions; being lifted from grass to grace and coming from nothingness into great abundance.”

Born on July 18, 1963 into the family of late Denis Ifedi and Regina Chukwuka of Ubili Village, Nnokwa, Idemmili South Local Council, Anambra State, the young Obiora was the last and only male child in the family of seven.

His arrival several years after his immediate elder sister, when hope of having a male child in the family seemed lost, was like a miracle in the family.

Born to a school teacher father who also doubled as the Catechist, in their local church, the family income was quite modest and barely enough to take care of everyone.

Indeed, going through secondary school was really difficult but his later day academic accomplishments served as testaments to his quest for knowledge and also assuaged him for the early educational deprivation that he suffered on the account of fi nancial incapacitation

As it is in a typical Igbo setting, an only male child is usually protected and showered with so much love and Obiora’s case was not different. “The circumstance of my birth bore clear manifestation of God’s enduring love to all that put their trust and believe in him. He showed compassion on my parents, who for several years, lived with certain stigma, on account of their inability to bear a male child,” he narrated.

However, just as it appeared the family was having a smooth sail, at least, with a male child to continue in the lineage, the devil reared its head on different occasions. First, Obiora was miraculously saved from harm in an attack by a very poisonous snake, and again, during the civil war, he was saved from certain premature death by the intervention of the Red Cross.

“The circumstances of my close brushes with death early in life were quite scary to both my parents and other siblings. It was to dawn on me later that God preserved my life on those occasions in order to fulfi ll his purpose for me,” he noted.

Young Obiora started primary school at Infant Primary school, now Upaka primary school, Nnokwa in 1970. He was very intelligent and as a result, his teachers took special interest in him.

In 1973, Obiora moved to St. Stephen’s Anglican School following the military intervention and change in education policy then.

He gained admission into Oraukwu Grammar School, Oraukwu and his life and experience in the secondary school was to shape the course of his future in most decisive and profound way, such that it became his launch pad for the future.

At the end of the fi ve-year sojourn in Oraukwu Grammar School in 1980, his friends and colleagues seemed to have seen his bright future as they labeled him “Mr. Trader” having seen him more as a businessman than a student.

Perhaps, Obiora was already focused and made up his mind on what his future progression would be. Due to the circumstances of his life as the only male child in a poor family, he knew that the most appropriate thing was to forget education in the short run in order to support the family’s lean fi nancial resources.

“At 16 and in class four in the secondary school, I refl ected on my life as the only boy in a family of six girls. I had no brother to assist me and I was expecting a lot of nephews and nieces. I was not expecting my father who was already getting old and was fi nding it diffi – cult as a teacher to train me in the secondary school to sponsor me to the university. So, I made that fi rm decision to join business after my School certifi cate. Pleas by my teachers and fellow students for me to take JAMB, Polytechnic or any other were turned down,” he revealed in an interview with Business Courage.

Obiora stated that even for him to complete his standard six at that time was a huge struggle. “There were times in-laws had to be called to contribute to pay my fees to enable me complete my secondary education. Although my classmates advised me to take the exams, I felt it was of no use, knowing full well that if I passed, I won’t be able to attend because of lack of fund. I realised my predicament on time and decided to take responsibility at a very young age,” he said.

By 1980, at the age of 17, the young Obiora moved to Lagos to join his maternal cousin, one Chief Uzoezie, as his apprentice.

Uzoezie was then a trader in Idumota Market, dealing on ladies shoes and that was where he cut his teeth in business. He however spent only three years with his cousin before he was set-up in the same line of business.

However, that little progress and joy was cut short by the Buhari/ Idiagbon military regime in 1984. “They demolished all illegal shops at Idumota and my fl edging business came to an abrupt end, as all my wares went with the demolition,” he recalled emotionally.

Though a big blow and terrible setback for Obiora and his family, the disaster was actually a leeway for the young man to determine his future business; it was an opportunity to strategise on how to be his own man. “I must confess, I never really liked the ladies shoe business, but was stuck to it due to the infl uence that my master in the trade had over me. So, after the demolition, I had a sort of retreat and came up with new plan.”

With little fresh capital at his disposal, Obiora settled for pharmaceutical business, banking on his love for dispensary services and previous experience as an active member of the Red Cross Society during his secondary school days. After a brief training in drug business, he started trade in 1985 at Idumota, with the name Leton Medical Store, which later metamorphosed to Caleb Pharmaceuticals.

“From the day I thought of this business, I had plans to do it the proper way; I got everything registered with the government. I was doing well in Idumota, but a lot of things were happening in the market; the issue of fake and expired drugs, people changing labels… a lot of shady deals. Within me, I knew I wasn’t going to stay long in such scenario,” he said.

However, he was faced with a challenge. As at that time of his training, he still had some shoes locked up in his parking store on Balogun Street, hence he had to make a decision on those items before he could regard himself as being free from shoe trade.

Pronto, he made up his mind to dispose of the remaining shoes. Incidentally, it was during the Christmas period and a traditional sales time for items like that, so it was a bit easy for him to sell the stock from which he admitted making additional N4, 000 and gave his boss N3,000 for safe-keeping. That, with the initial N10, 000 he had kept with his boss eventually became the take-off capital for his new pharmaceutical business.

By February 1985, Obiora got a shop at the cost of N200 per month at 71, Obun-Eko Street, Idumota, Lagos. He paid N4, 800 for two years and used the balance to purchase drugs and other goods for sale at the new shop.

Interestingly, Obiora’s new business took off as Leton Stores Limited, a combination of his name and that of his master, Leonard who himself was a partner in the new venture.

However, being a determined young man with a vision, Obiora had his game plan. He was determined to run a company recognised by law without molestation. In order to regularise the trade, having sought advice from other traders who were more knowledgeable than him in the trade, he decided to approach the Pharmacists Council of Nigeria, PCN.

Obiora was however told that for his business to get recognition, he needed to have a registered pharmacist; a shop with a size of at least 20ft by 10feet and also the business must be registered with the Corporate Affairs Commission, CAC.

To meet up with these requirements, Obiora met with two of his colleagues who were also having their shops in the same building who agreed to forfeit their individual ownership of the shops and collapse the walls separating them into one in order to have a bigger one. To meet the second condition of registering with the CAC, they arrived at CALEB Pharmaceuticals Limited by using the fi rst letters of their names Cajetan, Augustine, Le-Leton (Leonard and Anthony Obiora), while the B stands stood for Brothers.

They also employed a pharmacist, Adebimpe Adeola. With all the requirements met, an application was fi led with the PCN and CALEB Pharmaceuticals Limited was given approval in March, 1987.

Having started as a legal entity, Caleb Pharmaceuticals Limited enjoyed a lot patronage but trouble began in May 1989, barely two years after the company was fully registered, when the PCN sealed all pharmaceutical shops in Idumota area with the claim that most of the operators had no licence to operate as pharmaceutical companies.

The operation lasted for more than a month, but in 1992, problem reared its ugly head again when PCN declared that there would be no renewal of pharmaceutical licences for operators in Idumota, claiming that the location was not conducive for pharmaceutical service.

While problem with the Pharmacists Council of Nigeria (PCN) persisted in 1992, Obiora, not given to stress and diffi culties in life, made up his mind not to continue with his business and trade in Idumota. He was determined that even if there was any positive news from the PCN at the end of the day, he was not prepared to continue doing business there. His vision and ambition was to run a full-fl edge corporate entity like the Pfi zer or other multinationals of this world.

Not too long, a window of opportunity opened for him from India. As at the time the opportunity came, Obiora was having about N42, 000 as savings. In December 1993, Obiora travelled to India to perfect the deal on the importation of drugs like Felvin 20mg and Gentamycin 280mg directly into the country through one Blessed Augustine Pharmaceuticals Company located in Mushin, Lagos.

Unfortunately, by the time the goods arrived Nigeria in early 1994 and went into circulation, Obiora encountered serious problem with the product. Pfi zer Pharmaceuticals Limited, a multinational company in the country, already had the patent for the product. He never knew that Pfi zer patent which covered the importation of Piroxican still existed and had not expired.

Consequently, Pfi zer, on investigation made attempt to arrest the importer of the product and when Obiora got wind of this development, he quickly withdrew the product from circulation. However, when the Pfi zer’s licence expired in 1995, Obiora immediately reintroduced Felvin into the market.

Again through fate, Obiora met with another pharmacist, Kumapaye, who was trading under the brand name, Konfi dek Pharmacy. Under the new brand of Konfi dek, Obiora imported new products from India and eventually registered Felvin 20mg and Genamycin 280mg with NAFDAC using Konfi dek Pharmacy.

In 1994, following repeated problems associated with the drug market in Idumota, Obiora thought of registering Greenlife Pharmaceticals as a new company with the PCN.

Again, with the PCN, he had a hurdle to cross, not just because he is a non-pharmacist, but because he could not have the controlling or majority share in such a business as a retail shop.

However, he was introduced to one Chukwuka Nwosu, a fresh pharmacy graduate from the University of Benin. Obiora decided to offer 52 per cent interest in the new business to Chukwuka primarily to meet the regulatory requirement of PCN.

In practice, Chukwuka brought no monetary contributions to the business but was offered 35 per cent interest in the business as for his expertise. For Obiora to safeguard his investment and position, he had another MOU with Chukwuka stating the exact position of things in the company, thus leading to the birth of Greenlife Pharmaceuticals Limited, which started operations and opened shop at 2 Muyibi Oshodi Street in Ejigbo area of Lagos.

In 1997, Ebere Nwosu, who is now the Managing Director, approached Obiora with a partnership request. In effect, he wanted both of them to import drugs together into the country. Obiora bought the idea and as a take-off, they jointly contributed N10,000 each and that marked the new beginning of what is today Greenlife Pharmaceuticals Limited.

Obiora and Ebere had to employ Pharmacist Ibe James who eventually got Greenlife Pharmaceuticals Limited registered with the PCN in June 2000. Thus with the registration, Obiora’s transformation from being a shoe trader to a wholesale medicine dealer and now a corporate entity became fully manifested.

Now operating as a corporate entity and with a clear vision different from what his peers used to have at Idumota, Greenlife began to get more products registered with NAFDAC. In its bid to be ahead of competition, Greenlife has continued to introduce quality products and mange medical representatives well.

Today, Greenlife Pharmaceticals Limited has over 120 popular products such as A-Z multivitamins, Day by Day, Alaxin, Lonart, Funbac-A among others.

But then, the company has not been immune from challenges posed by cloning and adulteration of products. To address the problem, the company had to introduce the Mobile Authentication Service(MAS) for Lonart, one of it’s fl agship products. For instance, if a customer buys Lonart, he just need to scratch the back of the pack for a number and with that, he texts the mobile lines displayed on the pack with the serial number. Instantly, he will be able to know whether the particular product is cloned or genuine. In fact, as at today, Greenlife remains the only company in Nigeria that has introduced MAS technology in the fi ght against malaria.

Over the years, Greenlife has grown to become one of Nigeria’s top corporate and respected indigenous pharmaceutical brands. With over 120 NAFDAC approved brands currently on its stable, the company employs several hundreds of Nigerian professionals across various disciplines, especially pharmacy.

Years after he had made tremendous success in his entrepreneurial stride, Obiora still felt the compelling need to further his education. So, in 2002, he secured admission into University of Lagos, after 22 years in business, bagging Bachelor of Science degree in Business Administration, in 2008.

He got a Masters Degree in Corporate Governance from Leeds Metropolitan University, England, from where he also had a diploma certifi cate in Management Consultancy.

Obiora has also attended leadership training on Ethics, Accountability and corporate Governance programme at the Graduate School of Public and International Affairs, University of Pittsburgh, United States and Company Direction programme at Lagos Business School (LBS) Lagos among others.

Today, he is a recipient of an honorary doctorate conferred on him by Commonwealth University Belize, Central America, in collaboration with the London Graduate School, England. “My later day academic accomplishments served as a testament to my quest for excellence through knowledge. It also assuaged me for the early educational deprivation that I suffered on account of fi nancial incapacitation.”

As the Executive Chairman of Greenlife, Obiora’s vision has been to grow the company to become the largest and most respected indigenous pharmaceutical organisation in the country. “This position has afforded me opportunity to appreciate the complexities and workings of today’s modern corporate organisation. I thank God for the privilege of a higher education, through it, I gained invaluable experience that helped me to effectively deal with emerging corporate challenges.”

On the social front, Obiora is a member of the Council of Nigeria- British Chamber of Commerce (NBCC); Institute of Directors Nigeria (IoD), Nigeria Red Cross Society and Nigeria – India Chamber of Commerce and Industry (NICCI).

He is the National Vice President Oraukwu Old Boys Association; Member University of Lagos Alumni Association, Leeds Metropolitan University Alumni Association, England.

He’s also a member of the Chartered Management Institute (CMI) United Kingdom, a Fellow of Chartered Institute of Administration of Nigeria (FCIA), Certifi ed Cost Managers of Nigeria (FCCM), and currently the Public Relation Offi cer of the Association of Pharmaceutical Importers of Nigeria (APIN).

At Community level, he was the past secretary and current Chairman of Nnokwa Progress Union, Lagos Branch, among others.

In fulfi lment of his philanthropic desire, Obiora instituted the Eziafakaego Foundation(which means Good Name is better than Money) in 2003, through which he seeks to improve the quality of life, especially in the rural communities. The Foundation is involved in several humanitarian and philanthropic activities like the provision of vital infrastructure and amenities to make life in the rural communities better.

He has just completed a multimillion naira Civic Center he built and donated to the community in Nnokwa in memory of his late father.

In recognition of his outstanding services to humanity, he was among the 10 outstanding individuals recently nominated for the Lagos State Man of the Year Award (LASMAYA 2013) and he emerged second position in the contest behind Dr. Kadiri Obafemi Hamzat (Hon. Commissioner for Works and Infrastructure Lagos Sate).

He has also received many honours and awards which include: the Distinguished Entrepreneurship Award from the University of Nigeria Alumni Association; Excellence Award from Red Cross Society of Nigeria; Development and Excellence Award from the Association of Anambra State Development union (AASDU) to mention

Nigeria’s foam manufacturers Mouka Limited, at the weekend joined the rest of the global community in marking the 2015 World Sleep Day celebration.

With the slogan, “When Sleep is Sound, Health and Happiness Abound”, the 2015 World Sleep Day (WSD) celebration is in furtherance of the global campaign to encourage good sleep which is very important to healthy living.

According to the Acting Managing Director, Mouka Limited, Mr. Femi Fapohunda, the World Sleep Day is an annual event conceptualized to be a celebration of good sleep and a call to action on important issues related to sleep.

Fapohunda explained that the annual event is organized by the World Sleep Day Committee (WSDC) of the World Association of Sleep Medicine (WASM) with the aim to reduce the burden of sleep problems on society through better prevention and management of sleep disorder.

“We at Mouka Limited are lending our voice to the celebration of the World Sleep Day because we understand the importance of good sleep to the health of individuals and the society at large which is why our product are specifi cally designed to help our customers enjoy good sleep for sound health” he said

Also speaking on the World Sleep Day celebration, the National Business Manager, Mr. Olufemi Asa stated that lack of sleep or poor quality sleep leaves individuals more vulnerable to accident.

“Several researches has shown that people who suffer insomnia are seven time more likely to be involved in an accident causing death or serious injury that good sleepers” he said

Asa noted that lack of adequate sleep can lead to a change in character, a drop in the quality of work and performance at work place which may degenerate into crisis and loss of job.

Airtel Nigeria has provided succor for an abandoned village in Iwo, Osun state through its current special live touching TV series, being aired every Saturday. The mobile network operator are cent h focused on the pathetic story of the community.

The people of the Akinbami village have for a long time, been cut off from modernity, infrastructural development, and worse of all, medical services. The lack of healthcare services or access to medical supplies, have had adverse effect on the lives of the residents of the village. The village also lacks motorable road, this makes access to the closest medical facility in the city diffi cult especially at night. Being cut off by bad road, the community members are helpless in the face of emergencies.

Therefore the community members suffer from high infant mortality especially during birth, as there is poor childcare, no access to immunization. Life threatening sicknesses and Incidents such as snake and scorpion bites, burnt, typhoid etc have no solutions and cut life of the victims shut in the community.

For this pathetic situation, the people of Akinbami village found favour in the eyes of one Founder/President General of Gideon’s Community Development Association, Adisa Adeniyi Kabiru.

Kabiru had nominated the village in the Airtel Touching Lives project. And in the character of the telecommunication giant, they couldn’t over-look the plight of the people, and therefore came to their rescue. Airtel has recognized them from their tribulations by providing medical supplies, a baby crib, a hospital bed and mattress, a fetal Doppler, a pulse optometer, a smart sign life plus, a defribulator for heart attacks and a True Scope to monitor vital signs.

In the same episode 6 of Touching Lives, Airtel also came to the rescue of Sanni Muritala, a story of hardship, hope, determination and strength. Sanni was an able bodied energetic young man living in Maiduguri. His life took a downward trend when he was unfortunate to be around when the dare-devil Boko Haram Islamic fundamentalist struck with a bomb. He woke up in the state hospital with his legs amputated.

Since that period his life had been torn apart. He lost his buoyant small scale grocery business; his family ran for their lives and is currently taking refuge in Chad. With nobody to help him, he sojourned to take refuge in the Hausa community in Port Harcourt and had to took to street begging to survive.

Despite his situation, Sanni has taken upon himself to raise and send regular money for upkeep to his displaced family in Chad.

While struggling to raise enough money to bring his family back to Nigeria, Airtel intervenes to rebuild Sanni’s life by providing him with resources to relocate his family, a wheel chair, a fully stocked basic grocery store along with Airtel recharge cards.

Touching Lives is a show about creating a platform for ordinary people in need: Men and Women, Young and Old, rural and urban to have a chance to fulfi ll their lifelong dreams. This project is a TV series that is aired on TV. Ultimately, it is about encouraging culture of giving among Nigerians who are well off to offer helping hand to the needy in the society; and ensuring that they have a better and improved quality of life