Accomplish Magazine January 2024

M A G A Z I N E 

JANUARY 2024 

Challenges & 

Opportunities 

in AI for 

Businesses 

Who’s 

Benefitting from 

the Illicit Oil 

Subsidy Feast? 

Do People 

Keep 

New Year 

Resolutions? 

INTERVIEW 

Chuks Akamadu: 

Devoted to 

Making ‘Cultour’ 

the Mainstay of 

Nigeria’s Economy 

Oxygen 

Therapy, 

A Potent 

Anti-Cancer 

Treatment 

Tony Elumelu: 

BILLIONAIRE CHAMPION 

OF AFRICAPITALISM

Contents 

Team 

EDITOR 

DIIYI WILLIAM-WEST 

CONTRIBUTING EDITOR 

HARRY CHOMS 

SENIOR CORRESPONDENTS 

IKENNA NGERE 

TOLULOPE AKINRULI 

ADEBAYO AFOLABI 

WEB MANAGER 

BEN FUJA 

SOCIAL MEDIA HANDLER 

MONICA EFEOTOR 

BUSINESS DEVELOPMENT CONSULTANTS 

NGOZI UKPAI 

IMIOMOZO DAN ANYIAM 

BUSINESS ANALYST EXECUTIVE 

NGOZI EZE 

MARKETING DIRECTOR 

OGEHENETEGA DIAGBARE 

CREATIVE DIRECTOR 

CHARLES KAMMA 

CHAIRMAN EDITORIAL BOARD 

DR AUSTIN NWEZE 

PUBLISHER / EDITOR IN CHIEF 

REMI DIAGBARE 

For advert enquiries, please contact 

Marketing Director, Imiomozo - 08075499632, 

Remmy +44 7424 594773 

(Whatspp only) 

or email, accomplishentrepreneurng.com 

To reach the Editor, 

send your email to: 

info@theaccomplishmagazine.com 

OUR VISION: 

To be the go-to publication for information and 

inspiration in pursuing life’s attainments. 

OUR MISSION: 

To profile and celebrate the achievements 

and lifestyle choices of outstanding leaders 

and influencers in business, manufacturing, 

agriculture, academia, administration, 

entertainment and innovation in Nigeria, Africa 

and, indeed, globally. 

FOLLOW US @ ENTREPRENEUR NG 

COVER 

6 Tony Elumelu: A Luminary 

Banker, Investor & 

Philanthropist. 

NIGERIA: BITS & BOBS 

4 Naira Falls to N1260/US$ in 

Parallel Market... 

& Other Stories 

FEATURE/ANALYSIS 

20 Analysing Nigeria 2024 

National Budget 

24 Who's Benefitting from the 

Illicit Oil Subsidy Feast? 

26 Do People Keep New Year 

Resolutions? 

28 Is The Njc An Inadvertent 

Undertaker? 

GLOBAL INFO DIGEST 

30 How to Repair a Corrupted 

External Hard Drive...& other 

stories 

40 

6 24 

CEO INTERVIEW 

34 Chuks Akamadu: Devoted to 

Making 'Cultour' the Mainstay 

of Nigeria's Economy 

REALTOR’S AVENUE 

42 Going Into Real Estate 

Business In Nigeria pt. 2 

THE INCUBATOR SERIES 

46 Master Your Operational 

Environment. 

AFRICA RISING NEWS.... 

50 South Africa Settles for 

Nuclear Power to Tackle 

Electricity Challenges...& 

other stories... 

GLOBAL NEWS... 

52 Open AI CEO Fuels Impressive 

Growth of Worldcoin 

Following Successful 

Fundraising Report 

& other stories.....

LIFESTYLE 

54 AI Today & Tomorrow - 

Challenges and Opportunities 

in AI for Businesses. 

56 ARTS & THE MASTERS - 

German Art Dealer, Johann 

König to Open... 

58 Alternative Medicine - 

Oxygen Therapy...A Potent 

Anti-Cancer Treatment 

62 Executive Health - Top 5 

Virtual Fitness Programmes... 

64 Executive Health - Top 5 

Nutrition Options... 

66 Food & Wine - Fruit-cake 

Recipe to Launch the New Year 

68 Business Ideas that Enhance 

Employees’ Mental Well-being 

hurray! Happy New Year! That 

you're reading this is evidence 

that you made it past the 

mighty crossover to 2024! It's 

a divine privilege no one alive should 

take lightly! For Team Accomplish, 2023, 

when we launched out, will remain 

memorable in many ways; especially 

the number of views each of our 

previous editions registered. You can, 

therefore, imagine our excitement as we 

retooled to make more impact in 2024! 

We expect that you are adorning similar 

excitement, despite all current odds, as 

you prepare to march and win through 

the next 52 weeks! Yes! Welcome to 

2024! 

We open the year with a cover page 

personality who bestrides the world of 

finance, investments and philanthropy 

in a seemingly effortless manner... 

Tony Elumelu, CFR, it is! Read up how 

a Youth Corper at Union Bank Plc rose, 

through the years, to become the group 

managing director and chief executive 

of one of Nigeria, nay Africa's, biggest 

banks! 

In our usual style, we dug deep 

for our 'CEO Interview' to present Barr. 

Chuks Akamadu, whose latest book, 

"Harnessing Cultour for Economic 

Growth" is shaking up the usually sedate 

culture-cum-tourism industry. 

From The Editor 

TRAVEL & LEISURE 

70 Montego Bay: A Melting Pot 

of Culture & Fun 

CORPORATE SUITE 

76 UBA PLC: Indeed, A Sub- 

Saharan Giant. 

26 

You will find "Do People Keep New 

Year Resolutions?" quite useful in 

kindling the desired dynamism for far 

greater accomplishments in 2024. 

In this edition, we also have an 

analyst's opinion on Nigeria's national 

budget for 2024 which you shouldn't 

miss. The dire economic 'daymire and 

nightmare' Nigerians are enduring and 

the recent embarrassing decisions 

from the judiciary have led us to ask 

bold questions with "Who’s Benefitting 

from the Illicit Oil Subsidy Feast?" and 

"Is the NJC an Inadvertent Undertaker?" 

respectively. We hope these pieces hit 

the nail on the head! 

As always, we present equally 

interesting pieces on Grand Design, 

Lifestyle & Arts, Alternative Health, Travel 

& Leisure, Food & Drinks and AI Today & 

Tomorrow and more. 

You can see that we've started 

the New Year on a pumped up note 

and hope the same rubs off on our 

readers. Let me add this: Determine to 

go ahead and win in legit and positively 

transformative ways on all fronts in 

2024! And, let those wins impact lives, 

communities and country! That's what 

has been largely lacking in Nigeria and 

most of Africa! 

Once again: HAPPY NEW YEAR! 

Disclaimer 

70 

66 

62 

• Please note that all photos used in this 

special digital edition of the ACCOMPLISH 

Magazine were sourced freely online. 

We maintains no rights over the images/ 

photos, while we have tried to give 

appropriate credit where due, we are 

aware some artistes were not credited. 

We remain committed to supporting 

intellectual property and creativity. 

© 2023 Tegali Communications 

• The opinions of contributors (people 

whose opinion we publish) are not the 

opinion of Accomplish Magazine or the 

opinion of the management or staff of 

Accomplish Magazine. 

DIIYI WILLIAM-WEST 

Editor 

: info@theaccomplishmagazine.com 

Accomplish Magazine 

| 3

NIGERIA: 

BITS & BOBS 

By Ikenna Ngere 

BUSINESS AND FINANCE 

activities on the NGX entered the 

fourth day of positive trading, 

which resulted in a N415 billion gain 

for equity market investors. 

On November 1, the ASI crossed the 

70,000-mark milestone to close at 

70,581.76. This had followed days of 

sustained bullish trading. Thus far, 

the year-to-date gain of the ASI 

has risen above 40 per cent. 

28.20 per cent in November 2023. 

The National Bureau of Statistics 

(NBS) said that headline inflation 

increased by 0.87 percentage 

points in November to a new 

record high in nearly two decades 

in its new “Consumer Price Index: 

November 2023,” which was made 

public on Friday, December 15. 

Naira Falls to N1260/US$ 

in Parallel Market 

The naira depreciated Monday, 

December 13, 2023, to N1,260 per 

US dollar in the parallel market 

from N1,220 per US dollar on 

Tuesday, December 12. Similarly, 

the naira depreciated to N904.65 

per US dollar in the official Nigerian 

Foreign Exchange Market (NAFEM). 

Data from FMDQ showed that 

the indicative exchange rate 

for NAFEM rose to N904.65 per 

US dollar from N865.03 per US 

dollar on Tuesday, December 12, 

indicating a N39.62 depreciation 

for the naira. 

NGX share index crosses 

historic 72,000 points! 

investors gain N215bn 

Following a 68.55 percent The 

benchmark index of the Nigerian 

Exchange Limited, All-Share 

Index, rose by 0.55 per cent on 

Wednesday, December 13, 2023, 

at 72,299.79 points, thus crossing 

the 72,000 basis points for the first 

time in history. This was as trading 

Nigeria’s Inflation Rate 

Surges to Record High of 

28.20% in November – 

NBS 

Nigeria’s spiraling cost of living 

crisis was highlighted by the 

sharp increase in inflation from 

27.33 per cent in October 2023 to 

Soaring Cost of 

Feeding: Food Inflation 

Skyrockets to 32.84% 

Due to the increase in food 

inflation to 32.84 per cent in 

November 2023, Nigerians are 

having a harder time feeding 

themselves. 

The Consumer Price Index: 

November 2023 report from the 

National Bureau of Statistics, 

which was made public on Friday, 

December 15, shows that headline 

inflation increased to 28.20 per 

cent in November from 27.33 per 

cent in October. 

The states of Kogi, Kwara, and 

Rivers experienced the largest 

increases in food prices, with food 

inflation reaching 41.29 per cent, 

40.72 per cent, and 40.22 per cent, 

respectively. 

4 | Accomplish Magazine

TECHNOLOGY 

Empowering Farmers 

with Cutting-Edge 

Trading App to Maximise 

Revenue 

To improve the supply of raw 

materials to industries and provide 

farmers with market access, an 

application for trading agricultural 

commodities has been developed. 

Hitherto, farmers were deprived 

of vital information regarding 

fair pricing and market trends, 

according to the developers of the 

Straddle application, because the 

necessary technology was lacking 

in this area. 

POLITICS 

Power Minister, Adelabu 

Rekindles Ties with APC, 

Abandons Accord Party 

Bayo Adelabu, 

the Minister 

of Power, has 

declared 

his desire to 

rejoin the All 

Progressives 

Congress 

(APC). Prior to 

the Oyo State 

governorship 

elections in 2023, the minister left 

the APC to run on the platform of 

the Accord Party. 

Adelabu, however, announced 

in a letter dated December 6 that 

he will formally announce his 

return at a ceremony to be held 

at the APC Secretariat in Oke-Ado, 

Oyo State, on December 15, 2023. 

The letter was addressed to the 

state chairman and leaders of the 

APC in Oyo State. 

PDP Chieftain Urges 

Collective Composure 

after Shocking Bomb 

Attack in Kaduna 

Village 

Alhaji Shuaibu Miqati, a former 

PDP governorship candidate 

in Kaduna State, has advised 

prudence in the light of the 

recent mistaken bombing of 

Tudun Biri village in the Igabi 

Local Government Area of the 

state, which resulted in the 

deaths of over a hundred people. 

Recall that the Kaduna State 

Government said the Nigerian 

Army claimed responsibility 

for dropping a bomb on Tudun 

Biri which left no fewer than 

100 villagers dead on Sunday, 

December 2. 

In a statement on Saturday, 

December 9, Miqati, a former 

Director of Human Resources 

of Dangote Group, expressed 

deep concern 

over the incident, 

noting that it 

appeared to 

have some level 

of intelligence 

failure on 

the part 

of military 

operations. 

ENTREPRENEURSHIP 

Dangote Refinery Gets 

First Crude Supply 

According to SP Global, which 

cited market sources and tanker 

tracking data, the first crude 

feedstock for Dangote’s 650,000 

barrels per day refinery has 

arrived Nigeria. According 

to the analytical firm, 

the development 

suggests that fuel 

production at the newly 

constructed $19 billion facility 

is finally about to commence 

following years of delays. 

As per the report, on 

December 6, the OTIS tanker 

loaded 950,000 barrels of Agbami 

crude, which it discharged at the 

refinery’s terminal on Thursday, 

December 7. 

Dangote Refinery 

Anticipates $27 Billion 

Annual Revenue 

Exclusive information 

obtained by Nairametrics 

reveals that Dangote 

Refinery, boasting a daily 

capacity of 650,000 

barrels, is poised to 

generate an impressive 

annual revenue of $27 

billion when operating at full 

capacity. 

Initially refining 350,000 

barrels daily, the facility plans 

a subsequent expansion to its 

maximum capacity. The initial 

phase will prioritise the production 

of diesel, aviation fuel, and gas, 

with petrol production scheduled 

later. 

DAMIAN 

IKENNA NGERE 

AUTHOR’S BIO 

Ikenna is a graduate of 

Physics and Education, 

who works as a 

freelance writer. He has 

interest in technology, 

humanity and sports. 


| 5

TONY EL 

COVER 

A Luminary Banker, Investor 

and Philanthropist 

6 | 

Accomplish Magazine

COVER 

UMELU 


| 7

COVER 

By Harry Choms 

Renowned as a luminary figure in Economics, entrepreneurship, and 

philanthropy, Anthony Onyemaechi Elumelu, or Tony Elumelu, stands as a 

beacon of success and inspiration. Born on 22nd March, 1963, in Jos, Plateau 

State, Nigeria, Elumelu’s roots trace back to the vibrant Onicha-Ukwu in Aniocha 

North Local Government Area of Delta State. What sets Tony Elumelu apart is his 

birth place and transformative impact through the Tony Elumelu Entrepreneurship 

Programme, a flagship initiative under The Tony Elumelu Foundation. Each year, 

the doors of opportunity swing open as the Tony Elumelu Foundation invites 

visionary entrepreneurs across Africa to be part of a life-altering experience. 

Beyond the accolades, Elumelu’s financial prowess is nothing short of 

legendary, catapulting him into the elite billionaire’s club. His wealth is a 

testament to his strategic investments, notably holding a commanding stake in 

Transcorp, a powerhouse conglomerate trading on the Nigerian stock exchange. 

Transcorp’s diverse interests span agriculture, power generation, oil production, 

and hospitality. 

Early Life and 

Education 

Born on March 22, 1963, in Jos, 

Nigeria, Anthony Onyemaechi 

Elumelu, widely known as Tony 

Elumelu, is a distinguished figure 

associated with excellence, 

investment, and philanthropy 

across the African continent. 

Growing up in a family of six, 

including his brother, Ndudi 

Elumelu, the current minority 

leader in the Nigerian Federal 

House of Representatives, his 

parents, Dominic Elumelu and 

Suzanne Elumelu, earned a 

sterling reputation for their 

ethical business practices in the 

Nigerian business landscape. 

Personal Life 

Tony Elumelu, a prominent 

investor, businessman, and 

philanthropist, has been 

happily married to Dr. Awele 

Vivian Elumelu since 1993. They 

are proud parents to seven 

children, each uniquely named, 

including Oge Elumelu, Ogor 

Elumelu, Onyinye Elumelu, Ugo 

Elumelu, Nneka Elumelu, and 

two others. Dr. Awele Vivian 

Elumelu holds dual leadership 

positions in healthcare, chairing 

Avon Medical Practice Limited 

and Avon Healthcare Limited 

while overseeing healthcare 

investments at Heirs Holdings. 

Her expertise, backed by 

a Bachelor of Medicine and 

Bachelor of Surgery degree from 

the esteemed University of Benin, 

makes her an invaluable asset to 

the organisations she serves. 

Career 

In 1985, a young Tony Elumelu 

began his career as a Youth 

Corps member at the Nigerian 

bank, Union Bank Plc. He then 

went on to work for Allstates Trust 

Bank Ltd., where his unrivalled 

talent and tireless work ethic 

propelled him quickly up the 

ranks. 

Tony Elumelu made his first 

major move in the banking 

industry in 1997 when he 

purchased Crystal Bank and 

successfully turned it into a 

profitable entity. This set the 

stage for one of the most 

remarkable moments in sub- 

Saharan Africa’s banking 

industry when he led the merger 

of Standard Trust Bank and 

United Bank for Africa (UBA) in 

2005 to form a pan-African bank 

with subsidiaries in 20 African 

countries, France, the United 

States, and the United Kingdom. 

Tony Elumelu was the Group 

Managing Director of Standard 

Trust Bank and UBA, where 

his visionary leadership 

and financial acumen were 

instrumental in leading the 

merged entity to unprecedented 

success before retiring in 2010 to 

pursue new ventures. 

Heirs Holdings, an investment 

holding company with a diverse 

portfolio of investments across 

multiple sectors, was founded in 

2010. Tony Elumelu, a champion 

of African entrepreneurship, also 

established the Tony Elumelu 


COVER 

Foundation to provide African 

entrepreneurs with the tools and 

resources they need to thrive. 

His unwavering pursuit of 

excellence and visionary 

leadership were not unnoticed. 

After fulfilling all privatisation 

conditions, Tony Elumelu officially 

took full ownership of Transcorp 

Hilton Hotels, an iconic hospitality 

facility, in 2021, marking another 

remarkable chapter in his 

illustrious career. 

Tony Elumelu is much more 

than a businessman. He is 

a trailblazer, philanthropist, 

and visionary committed 

to transforming the African 

continent through long-term 

investments in key sectors 

such as finance, hospitality, 

power, energy, technology, and 

healthcare. His unbreakable 

spirit and unwavering pursuit 

of excellence have inspired 

generations of Africans to dream 

big and achieve greatness. 

Foundation 

In 2010, Tony Elumelu founded the 

Tony Elumelu Foundation (TEF), 

a foundation that promotes 

entrepreneurship in the African 

continent. One of its initiatives 

is the TEF Entrepreneurship 

Programme (TEEP), which has 

successfully nurtured a new 

wave of entrepreneurs in Africa. 

This initiative aligns with Tony 

Elumelu’s commitment to 

Africapitalism. This economic 

development philosophy aims 

to redefine the role of the 

private sector in the growth 

and development of African 

economies and societies. 

So, what exactly is Africapitalism? 

According to Elumelu, it is a 

philosophy that advocates longterm 

investment in strategic 

sectors of the African economy 

with the potential to generate 

economic prosperity and social 

wealth. In essence, it is a call 

to action for Africans to take 

charge of their development 

while encouraging non-Africans 

to reconsider how they can best 

contribute to the continent. 

Now, let’s shift our focus back 

to TEF and TEEP. The foundation 

achieves its goals through 

various means, such as research, 

policy advocacy, and supporting 

communities. TEF organises 

gatherings to foster innovation 

among young Africans. Notable 

examples of these gatherings 

include the TEF Forum, a 


| 9

COVER 

vibrant community of entrepreneurs in Africa, and 

TEFConnect, a digital hub specifically designed for 

entrepreneurs on the continent. 

TEF utilises Tony Elumelu’s extensive network in 

both public and private sectors to open doors 

and provide opportunities for wealth creation to 

young entrepreneurs. One of the most common 

praises the programme receives is its exceptional 

commitment to identifying, mentoring, and funding 

entrepreneurs all across Africa. 

Furthering its impact, TEEP now collaborates with 

international organisations such as the United 

Nations Development Programme (UNDP), the 

African Development Bank (AfDB), the International 

Committee of the Red Cross (ICRC), and GIZ to 

foster sustainable growth and make a lasting 

difference on the continent. 

Prestigious Awards & 

Recognitions 

Tony Elumelu, one of Nigeria’s well-known 

entrepreneurs, has received numerous awards 

and accolades. Here’s a comprehensive list of the 

awards he earned: 

• In 2008, Elumelu was named the African 

Business Investor of the Year by the African Investor 

Magazine. 

• The African Banker Magazine awarded him the 

African Banker of the Year title in 2008. 

• He was honoured with an Honorary Doctorate of 

Science Degree from Benue State University in 2012. 

• The University of Nigeria Nsukka gave him an 

Honorary Doctorate of Business Administration 

(HonDB). 

• In 2013, Elumelu was presented with the 

Leadership Award in Business and Philanthropy by 

the Africa-America Institute (AAI). 

• At the African Business Awards 2013, Elumelu 

earned the prestigious title of African Business Icon. 

• In 2015, he was recognised as one of the ESI’s 

most influential figures in African power. 

• On April 21, 2016, Tony Elumelu was honoured with 

a Lifetime Achievement Award at the fifth edition 

of the National Council of Employers/General 

Confederation of Enterprises of Côte d’Ivoire 

(CGECI) annual forum Academy, held in Abidjan, 


COVER 

Côte d’Ivoire. 

• In 2016, Elumelu was named the Nigerian Man of 

the Year by Daily Times newspaper. 

• He received the Philanthropist of the Year award 

in 2018 and 2019, as bestowed by the All-Africa 

Business Leaders Awards (AABLA). 

• In 2019, he was granted an Honorary Doctor of 

Business degree by Bayero University Kano (BUK). 

• In 2019, Elumelu received the National Productivity 

Order of Merit Award. 

• He made history by becoming the first African to 

be honoured with the Dwight D. Eisenhower Global 

Entrepreneurship Award. 

Furthermore, the Federal Republic of Nigeria 

and various publications have recognised his 

achievements with prestigious titles, including: 

• In 2003, the Federal Government of Nigeria 

awarded him the MFR (Member of the Order of the 

Federal Republic) title. 

• Elumelu was honoured with the National Honour 

of CON (Commander of the Order of the Niger) in 

2012. 

• Tony Elumelu was invited to serve as a member 

of the Presidential Committee on the Global 

Financial Crisis in Nigeria. This special request came 

directly from the then-president of the country, 

Umaru Musa Yar’adua. 

• Forbes Magazine named him one of Africa’s 20 

Most Powerful People in 2012. 

• The New African Magazine included him in the 

list of the 100 Most Influential Africans in Business in 

2012. 

• Time magazine recognised him as one of the 100 

Most Influential People in the World in 2020. 

• He has also been listed among the top wealthiest 

people in Nigeria and the 10 Richest Black People 

Worldwide on separate occasions. 

Tony Elumelu’s remarkable success and 

recognition speak volumes about his outstanding 

contributions to business and philanthropy, not 

only within Nigeria but also on a global scale. His 

influence and impact continue to inspire and 

shape the entrepreneurial landscape. 

. 

Some of His Publications 

Tony Elumelu, a renowned figure in Africa’s 

economic development, has made valuable 

contributions by sharing his insights and life 

principles through esteemed publications such as 

The Economist, Financial Times, and The Wall Street 

Journal. His impactful ideas have even inspired 

author Bili A. Odum to write the book “How to Excel 

at Work.” In his works’ pages, including “The Power 

of Vision” and “The TOEWay,” Elumelu provides 

profound insights into his life journey and notable 

achievements. 

Let’s take a closer look at some of Tony Elumelu’s 

significant business ventures: 

• United Bank of Africa - He serves as the 

Chairman of this prominent financial institution, 

playing a vital role in its continued success. 

• Heirs Holdings - Elumelu is the visionary founder 

and Chief Executive Officer of Heirs Holdings, 

a reputable organisation making a significant 

impact. 

• Tony Elumelu Foundation - Demonstrating his 

commitment to empowering others, he is the proud 

founder of the Tony Elumelu Foundation. Through 

this foundation, he strives to provide opportunities 

and support to aspiring entrepreneurs. 

Tony Elumelu’s accomplishments and dedication 

to various business concerns have made him a 

respected figure and a catalyst for positive change. 

His efforts play a vital role in shaping Africa’s 

economic landscape and inspiring countless 

individuals. 

Net Worth 

Tony Elumelu’s net worth is estimated to be $700 

million by Forbes. He is one of Nigeria’s most 

successful entrepreneurs. 

HARRY CHOMS 


Harry Choms is a freelance writer with a 

passion for words and a keen eye for details, an 

editor, and an avid tech believer. His works can 

be seen on EntrepreneurNG.com, Imautomator, 

Secureblitz, Withinnigeria, Feelgospel, 

Kemifilani, and Glamsquad Magazine. He is 

the Webmaster and sole owner of Matrismart. 

com and biowiki.com.ng. 


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BESTRIDING 

A WORLD OF 

FINANCE AND 

PHILANTHROPY 

TONY 

ELUMELU 


COVER 

By Ikenna Ngere 

Tony Elumelu is a Nigerian entrepreneur, serial 

investor, and philanthropist who is passionate 

about Africa’s economic development 

Early Career 

In the beginning of his career, 

Tony Elumelu faced a big 

challenge. He took over the 

struggling Standard Trust Bank, 

which was almost bankrupt. 

Notably, with his hard work and 

smart decisions, he turned the 

bank into one of the top-five 

banks in Nigeria in a remarkably 

short time. This was just the start 

of his incredible achievements! 

Expanding His Influence 

In 2005, Elumelu led the largest 

merger in the banking sector in 

sub-Saharan Africa. He acquired 

United Bank for Africa (UBA) and 

transformed it from a bank that 

operated in just one country to a 

pan-African institution. UBA now 

serves over 7 million customers 

in 19 African countries. That’s a 

huge accomplishment! 

Business Ventures 

Tony Elumelu works in executive 

capacity of Heirs Holdings, 

the United Bank for AfricavPlc., 

Transcorp Plc., and is the founder 

of The Tony Elumelu Foundation. 

He has made significant 

contributions to the Nigerian 

economy and has received 

numerous honours for his 

achievements. 

Heirs Holdings 

Elumelu established Heirs 

Holdings, an investment 

company that focuses on various 

sectors such as financial services, 

energy, real estate, hospitality, 

agriculture, and health care. 

Through this company, he 

promotes economic growth and 

development in Africa. 

Philanthropic 

Endeavours through 

The Tony Elumelu 

Foundation 

In 2010, after retiring as Group 

Managing Director and Chief 

Executive Officer of UBA Plc., 

Tony Elumelu shifted his focus 

towards philanthropy, marking 

the inception of The Tony Elumelu 

Foundation - an entity dedicated 

to nurturing entrepreneurship 

across Africa. The foundation 

serves as a beacon of support for 

aspiring African entrepreneurs. 

Offering a trifecta of mentorship, 

training and financial backing, 

it strives to pave the way for 

the success of enterprising 

individuals. At its core, The Tony 

Elumelu Foundation aspires to 

enhance the competitiveness of 

the private sector in Africa. This 

endeavour, not only catalyses 

economic prosperity but also 

fosters social wealth creation. 

Elumelu is unwavering in his 

belief in the transformative 

power of entrepreneurship, a 

conviction that underscores the 

foundation’s mission and impact. 

Africapitalism 

Elumelu is not just about making 

money; he has a bigger vision. He 

coined the term “Africapitalism,” 

which means the private 

sector’s commitment to Africa’s 

development. He believes 

that long-term investments in 

strategic sectors of the economy 

can bring economic prosperity 


| 13

COVER 

and social wealth to 

Africa. Indeed, Elumelu 

is a true champion for 

Africa’s growth! 

Public 

Engagements 

and Recognitions 

Besides his business 

ventures, Tony Elumelu 

actively participates 

in various public 

engagements and 

has received several 

notable recognitions. 

Advisory Roles 

Elumelu serves as an 

Adviser to the USAID’s 

Private Capital Group 

for Africa (PCGA) 

Partners Forum. He 

is also a member 

of the Nigerian 

President’s Agricultural 

Transformation 

Implementation 

Council (ATIC) and 

the Vice-Chairman 

of the National 

Competitiveness 

Council of Nigeria 

(NCCN). 

He co-chairs the 

Aspen Institute Dialog 

Series on Global Food 

Security. Additionally, 

he is a member of the 

Global Advisory Board 

of the United Nations 

Sustainable Energy for 

All Initiative (SE4ALL). 

Tony Elumelu’s 

Top 5 Tips for 

Success 

1. Plan with Precision: 

The key to success 

is careful planning. 

If you’re an African 

Tips For Young 

Professionals By 

Tony Elumelu 

Tony Elumelu generously shared insights from 

his dialogue with young professionals, offering 

valuable tips for those eager to navigate the 

path to success: 

1. Starting Out Right: 

- Emphasises the importance of structure in 

both entrepreneurial and corporate journeys. 

- Advocates for a conducive work 

environment that fosters learning, growth, and 

opportunity. 

- Highlights the significance of recruitment 

based on merit, transparent training, proper 

talent deployment, and fair appraisal systems 

for a solid career foundation. 

2. Your Dreams Are Valid: 

- Acknowledges the normalcy of aspirations 

and yearnings among young professionals. 

- Encourages hard work, sacrifice, and 

diligence as prerequisites for deserving career 

advancements. 

- Stresses the need to earn promotions 

and rewards in a merit-driven system, with a 

reminder to mentor and inspire those following 

in one’s footsteps. 

3. Strive to Be the Best Version of Yourself: 

- Values self-improvement as the best 

investment. 

- Encourages leveraging the accessibility of 

quality information in today’s digitised world for 

continuous learning. 

- Emphasises the importance of expanding 

one’s intellect and commends leaders who 

prioritise personal development. 

4. It’s All About Balance: 

- Recognises the possibility of having a 

thriving career, robust relationships, and a 

sense of purpose, but not necessarily all at the 

same time. 

- Advises young professionals to view life in 

phases, focusing on sowing and building a 

foundation in the early career stages. 

- Advocates for prioritisation and maintaining 

good health as a constant priority. 


COVER 

entrepreneur, listen up! Break 

down your big dreams into 

smaller, achievable steps that 

align with your vision. Having a 

well-structured plan will help 

you overcome obstacles and 

stay focused on your ultimate 

goal. 

2. Embrace Grit and 

Perseverance: On your journey 

to success, you will face 

challenges. Tony Elumelu knows 

that the secret is to embrace 

grit and perseverance. Don’t 

give up easily! Instead, develop 

resilience and face obstacles 

head-on. Every setback is an 

opportunity to learn and grow, 

bringing you closer to achieving 

your goals. 

3. Measure Progress and 

Reflect: It’s important to 

regularly review your progress. 

Celebrate even the smallest 

achievements and learn 

from your mistakes. African 

entrepreneurs can gain 

valuable insights through 

reflection, which will help them 

make better decisions and 

refine their strategies for longterm 

growth. 

4. Make Self-Discipline a 

Lifestyle: Turn self-discipline 

into a way of life. Create daily 

routines that align with your 

goals. Cultivate habits of 

productivity, effective time 

management, and unwavering 

focus. Success comes from 

consistent dedication, just like 

Tony Elumelu’s journey has 

shown. 

5. Cultivate Determination to 

Excel: 

Fuel your entrepreneurial drive 

with unwavering determination. 

Envision success and the 

positive impact you can make 

as you overcome obstacles. 

Believe in your abilities and stay 

committed to your purpose. By 

doing so, you’ll be able to make 

a significant difference in your 

business and community. 

Tony Elumelu’s wisdom 

resonates in the call for a 

balanced, purposeful, and 

merit-driven approach 

to professional growth, 

underscoring the importance of 

mentorship, self-improvement, 

and the acknowledgment that 

success unfolds in stages. 

DAMIAN 

IKENNA NGERE 


Ikenna is a graduate of Physics 

and Education, who works as a 

freelance writer. He has interest 

in technology, humanity and 

sports. 


| 15

COVER 

Tony Elumelu, a Nigerian businessman, billionaire, 

investor, philanthropist, and champion of African 

entrepreneurs, holds the position of chairman at the 

United Bank for Africa and is the founder of the Tony 

Elumelu Foundation. 

The following quotes are drawn from some of his 

previous interviews. 

SELEC 

QUOT 

OF TO 

ELUM 

“The 

entrepreneurial 

adventure is not 

easy. It’s made up of 

ups and downs. So you 

have to stay focused and 

have a long-term view, 

because that’s when 

it’s all going to 

happen. 

“Eradication 

of poverty must 

be a collective 

responsibility.” 

“Young 

people need 

mentorship, they 

need inspiration, 

they need 

motivation, they 

need capital.” 

If you do not 

care about how 

your business is 

conducted, your 

very future may 

be at stake.” 

“The kind of 

challenges we 

face on the continent 

require not only vision 

but also patience 

and perseverance. 

“African youth 

need technological 

opportunities. They 

need hope. They need 

tech for good and they 

want tech for all.” 

For a long time, we 

have relied on government, 

and the mentality also of 

Africans thinking that the world 

owes us and they have to help us 

to develop. But, we also must look 

inwards to see that from Africa, our 

private sector doing business in 

Africa also has a role to play 

in the development of the 

continent. 

By Adebayo Afolabi 

16 | 

Accomplish Magazine

TED 

ES 

NY 

ELU 

“Capital 

formation starts 

from savings. If you 

do not save, you don’t 

have money to invest. 

If you don’t invest, 

you remain where 

you are.“ 

We need to invest in 

a manner that’s not just 

about profits for the investors. 

We should invest in a manner 

that creates mutual benefits 

for everyone, for investors, for 

communities where you do 

business in, for society at 

large. 

“We 

must all work 

hard to put the 

youth out of the 

streets. Failure to do 

so will spell doom 

for all of us.” 

“Africapitalism is 

about the intersection 

of economic prosperity 

and social wealth, the 

intersection of making 

profit and doing good, 

and not waiting to finish 

one before you do the 

other.” 

Opportunities 

don’t come 

twice. If you miss 

it the first time, 

you might have 

missed 

it forever. 

Be prepared 

to work very 

hard. You must have 

ambition. You must seek 

out opportunities and have 

a platform on which to start 

implementing your vision. 

You should think long term, 

10 years ahead, not just 

for tomorrow. 

“Successful 

entrepreneurs 

have these principles 

ingrained in them. 

They expect challenges 

because overcoming 

challenges provides 

opportunities.” 

COVER 

“You must realise 

that leadership to 

a large extent is not 

bestowed; it is not handed 

over to you. You must 

prepare yourself for 

leadership and it will 

come to you.” 

The 

road to 

success is not 

linear, it is up and 

down. You have to 

be very determined 

and be prepared to do 

whatever is required for 

your success. And you 

have to know what 

success looks like 

in your chosen 

field. 

Improving 

access to electricity 

in Africa will unlock the 

wealth of this continent; 

but lack of access to 

electricity is holding 

us back. 


| 17

• 

O 

In 

Picture 

• Tony Elumelu and his lovely wife received a 

visit by Afrobeat sensation, Wizkid 

• Tony Elumelu hosted Super Eagles and 

Napoli star striker, Victor Osimhen, in his home 

• Tony Elumelu with his wife and Nollywood veteran 

actress, Genevieve Nnaji at the All White Party In Lagos. 

• A photo of Tony Elumelu with Nigerian skit maker and 

comedian, Mr. Macaroni in his office. Mr. Elumelu was 

quoted saying “Always happy to see young talented 

Africans doing big things in the creative industry.” 

• Tony Elumelu with President Joe Biden of the United States of 

America at Windsor Castle, where they convened world leaders 

for the Climate Finance Mobilisation Forum. 

• 

to 

R 

C 

h 

th 


• Tony Elumelu with President Bola Ahmed Tinubu at 

the Summit for New Global Financing hosted by French 

President, Emmanuel Macron, in Paris. 

• Billionaire Tony Elumelu 

grinding on the dance floor at 

the All White Party in Lagos. 

• Tony Elumelu with his wife and 

the Executive Governor of Lagos 

State, Babajide Sanwo-Olu at 

the All White Party In Lagos. 

•H.E. Vice President of Nigeria, Kashim Shettima, invited @tonyelumelufoundation, @ 

Alikodangotefoundation and International Development Partners, for a meeting to discuss 

the Human Capital Development Programme of the National Economic Council (NEC) 

Tony Elumelu with Businessman 

bi Cubana at the All White Party 

Lagos. 

A photo of Tony Elumelu speaking 

a group of brilliant teens at the 

CCG TEAP Zone Teens Career 

onference 2023. During the event, 

e told his story as Tony Elumelu, 

e businessman and father. 

• Tony Elumelu hosted Won Ju Jung, 

the Chairman of Daewoo Engineering & 

Construction Co. Ltd., - to explore partnership 

and collaboration opportunities between 

Daewoo Group and @heirsholdings Group. 

HARRY 

CHOMS 


Harry Choms is a freelance 

writer with a passion for 

words and a keen eye for 

details, an editor, and an avid 

tech believer. His works can 

be seen on EntrepreneurNG. 

com, Imautomator, Secureblitz, 

Withinnigeria, Feelgospel, 

Kemifilani, and Glamsquad 

Magazine. He is the Webmaster 

and sole owner of Matrismart. 

com and biowiki.com.ng. 


| 19

FEATURE / ANALYSIS 

ANALYSING 

NIGERIA 2024 

NATIONAL 

BUDGET TAGGED 

‘RENEWED HOPE’ 

By Oluwatobi Ojabello 

In the fiscal corridors of Nigeria’s governance, 

President Bola Ahmed Tinubu has unveiled 2024 

National Budget, christened ‘Renewed Hope’ 

beckoning both scrutiny and celebration. 

Delving into the intricacies of 

economic policy, this analysis aims to 

unveil both the positive and negative 

aspects woven into the financial fabric. 

Despite the optimistic name ‘Renewed 

Hope,’ underlying challenges such as 

an 18-year high inflation rate of 27.33%, 

naira devaluation, and 31.53% food 

inflation, all pose significant economic 

complexities. As earlier reported by 

BusinessDay. 

However, this analysis interprets 

the basic variations distinguishing 

this budget from its predecessors, 

shedding lights on promises, hurdles, 

and narratives shaping Nigeria’s 

economic destiny. 

The 2024 budget, specifically 

named ‘Renewed Hope,’ unfolds 

key themes, each contributing to 

the nation’s economic landscape. 

Delving into the intricacies of this 

financial masterpiece, it’s evident the 

government strategically emphasises 

areas for a revitalised and resilient 

Nigeria. 



Let’s unravel these major themes, 

each holding promises for the nation’s 

future. 

Aggregate Government Expenditure 

President Bola Ahmed Tinubu 

officially introduced the inaugural 

appropriation bill, known as the 

2024 Budget, to a joint session of the 

Nigerian National Assembly. Aptly 

named “The Renewed Hope Budget,” 

the proposed expenditure for the 

REVENUE 

PROJECTION 

SEES A 

SIGNIFICANT 

65.8% INCREASE 

TO N18.32 

TRILLION, 

SURPASSING 

THE 2023 

REVISED 

BUDGET OF 

N11.05 TRILLION. 

year is N27.5 trillion, marking a historic 

high and representing a 10.9 percent 

increase from the 2022 revised budget 

of N24.83 trillion. 

However, breaking down the 

aggregate expenditure, N7.72 trillion 

is allocated to capital expenditure 

(28.07% of the fiscal budget), and 

N9.92 trillion goes to recurrent 

expenditure (36.07%) as compared to 

his predecessors such as: 

*Yar’Adua in the 2008 fiscal budget: 

While aggregate government 

expenditure stood at N2.74 trillion, 

capital expenditure was N787.17 billion 

which is 28.72 percent, and recurrent 

expenditure was 1327. 55 billion which 

is 48.45 percent of the fiscal budget. 

*Jonathan in the 2011 fiscal budget: 



capital expenditure was N809.96 billion 


expenditure was 2527.26 billion which 

is 58.78 percent of the fiscal budget. 

*Buhari in the 2016 fiscal budget: 



capital expenditure is N1587.59 billion 


expenditure is 2646.38 billion which is 

43.66 percent of the fiscal budget. 

*Debt Servicing: 

In the 2024 fiscal budget, N8.25 trillion 

was allocated to debt servicing 

indicating that of the N27.5 trillion 

aggregate expenditure, 30 percent 

is to be used to service debt as 

compared to President Tinubu’s 

predecessors: 

*Yar’ Adua in 2008: While aggregate 

government expenditure stood 

at N2.74 trillion, 372.20 billion was 

allocated for debt servicing which is 


| 21


13.58% of the fiscal budget. 

*Jonathan in 2011: While 

aggregate government 

expenditure stood at N4.299 

trillion, 527.07 billion was 

allocated for debt servicing 

which is 12.59% of the fiscal 

budgets. 

* Buhari in 2016: While 



trillion, 1475.3 billion was 

allocated for debt servicing 

which is 24.34 of the fiscal 

budgets. 

Budget Deficit: 

The 2024 fiscal budget further 

reveals the ‘Deficit budget.’ This 

implies that the government’s 

estimated expenditure of 

N27.5 trillion is greater than her 

proposed estimated revenue of 

N18.32 with a variance of N9.18 

trillion known as ‘Deficit budget.’ 

Compared to His Predecessors: 

Yar’Adua in 2008: While 



trillion, the estimated revenue 

was N2.226 trillion. This indicates 

that the estimated expenditure 

is greater than that of revenue 

with a variance of N514 billion. 

Jonathan in 2011: While 



trillion, the estimated revenue 

is N3.393 trillion. This indicates 



with a variance of N906 Billion. 

*Buhari in 2016: While 



trillion, estimated revenue is 

N2.855 trillion. This indicates 

•Yar’Adua 

•Goodluck Jonathan 

•Buhari 



with a variance of N2.205 trillion. 

Statutory Transfer: 

Ranking the government 

expenditure in terms of 

allocation as presented by 

President Bola Ahmed Tinubu 

for the year 2024, among the 

five items listed in the fiscal 

budget that sum up to N27.5 

trillion, statutory transfer, ranked 

the fourth position as N1.37 

trillion was allocated, which 

shows that 4.98 percent of the 

fiscal budget goes to statutory 

transfer. 

As compared to His 

Predecessors: 

Yar’ Adua in 2008: While 



trillion, statutory transfer was 

N162.57 billion. This indicates 

that of the estimated 

expenditure, 5.93 percent is 

allocated to statutory transfer. 

Jonathan in 2011: While 



trillion, the statutory transfer was 

N326.7 billion. This indicates that 

of the estimated expenditure, 

7.59 percent is allocated to 

statutory transfer. 

Buhari in 2016: While aggregate 

government expenditure stood 

at N6.06 trillion, the statutory 

transfer was N351.3 billion. This 

indicates that of the estimated 

expenditure, 5.79 percent is 

allocated to statutory transfer. 

Further insights into the 

2024 budget christened ‘The 

Renewed Hope Budget’ as 

compared to 2023 budget 

proposal are analysed below: 

Following the presentation 

of the budget, some key 

assumptions are within Nigeria’s 

Federal Government’s 2024- 

2026 Medium-term Expenditure 

Framework (MTEF), including 

$77.96 per barrel of crude oil, 

1.76 million bpd of crude oil 



production, N750/$, and a 21.5% 

inflation rate. 

Revenue projection sees a 

significant 65.8% increase to 

N18.32 trillion, surpassing the 

2023 revised budget of N11.05 

trillion. Expenditure projection 

rises by 10.3% to N27.5 trillion 

from the 2023 revised budget, 

breaking down into capital 

expenditure (31.6%), recurrent 

(36.1%), and debt servicing 

(30.0%). 

Debt service projection 

improves to 45.0% of revenue 

in 2024 from 73.5% in the 2023 

budget proposal. The projection 

for capital expenditure improves 

by 34.7%, while recurrent 

expenditure increases by 19.1%. 

The total deficit reaches N9.18 

trillion, about 3.88% of the GDP, 

signalling a positive shift toward 

better fiscal management. 

Aptly named 

“The Renewed 

Hope Budget,” 

the proposed 

expenditure 

for the year is 

N27.5 trillion, 

marking a 

historic high and 

representing 

a 10.9 percent 

increase from 

the 2022 revised 

budget of N24.83 

trillion. 

In conclusion, the 2024 ‘Renewed 

Hope’ budget, while ambitious, 

appears disconnected from 

the current economic reality. 

Clear support through the 

Finance Bill 2023 is essential for 

effective implementation, and 

the government must focus on 

revenue optimisation, institutional 

strengthening, and efficient 

expenditure practices to truly 

realise the ‘Renewed Hope’ it 

promises. 

Editor’s Note: This piece by 

Oluwatobi Ojabello was first 

published by Businessday with a 

different title. 

This analysis was done 

before the National Assembly 

passed the budget and we had 

gone to press. 

OLUWATOBI 

OJABELLO 

•President Bola Ahmed Tinubu 


| 23


Who’s Benefitting from 

the Illicit Oil 

Subsidy Feast? 


the issue of fuel subsidy in 

Nigeria has been a longstanding 

one, an invincible 

monster of sorts, with 

various administrations 

attempting to grapple with 

its complexities. Initially introduced 

in the 1970s to cushion the impact 

of rising global oil prices, subsidy 

has become a controversial subject, 

prompting perennial debates on its 

removal and implications. 

In 2012, the word “subsidy” 

resonated throughout Nigeria, 

sparking widespread public 

discourse and protests when then- 

President Goodluck Jonathan made 

the controversial announcement of 

its removal. When the decision was 

made to remove the subsidy, fuel 

prices surged dramatically from 

N65 to N140 per litre. 

This abrupt increase sent 

shockwaves throughout the country, 

resulting in fervent responses from 

the public. The protests which 

followed, collectively known as 

‘Occupy Nigeria’, persisted for 

almost two weeks as citizens voiced 

their discontent and opposition to 

the soaring fuel costs. The intensity 

of the protests eventually compelled 

President Jonathan to reconsider, 

leading to a reversal of the subsidy 

removal decision - in an effort 

to quell the unrest and restore a 

semblance of civil stability. 

President Bola Tinubu, while making 

his first speech after he had been 

sworn-in as president, declared 

an end to the fuel subsidy right 

there - emphasising that sustaining 

it was no longer feasible in the 

country. He argued that the trillions 

of naira previously allocated to 

subsidy could now be redirected 



to vital sectors like health care, 

transportation, education, housing, 

and national security. 

During the Buhari administration 

(2015-2023), the subsidy payments 

amounted to a staggering N11.4 

trillion. Data from Budgit, a civictech 

group, reveals fluctuations in 

subsidy payments over the years, 

reaching an alarming N1.42 trillion in 

2022. 

President Tinubu, in his August 1 

national address, claimed that the 

removal of the petrol subsidy had 

saved about N1 trillion in just two 

months, presenting an opportunity 

to allocate funds to various 

economic needs. 

Despite these claims, fuel prices 

go up, the economy struggles, and 

President Tinubu, in 

his August 1 national 

address, claimed 

that the removal of 

the petrol subsidy 

had saved about N1 

trillion in just two 

months, presenting 

an opportunity to 

allocate funds 

to various 

economic needs. 

• President Bola Ahmed Tinubu 

concerns linger about the lack of 

transparency in communicating 

the financial gains from subsidy 

removal. The World Bank has raised 

issues about the Nigeria National 

Petroleum Corporation Limited’s 

opacity regarding subsidy arrears 

and the impact on federation 

revenues. The cost at the fuel pump 

has tripled, shooting up from around 

N200 to about N600. This surge has 

caused a ripple effect, resulting 

in higher prices for goods and 

services and making the economic 

conditions of millions of Nigerians 

even more challenging. 

Despite the announced palliatives 

by President Tinubu to ease the 

impact of removing the fuel subsidy, 

either these measures haven’t been 

put into action, or their benefits are 

yet to be experienced by Nigerians. 

Currently, the average price of petrol 

stands at N630 per litre, adding to 

the financial burden faced by the 

people. 

The important question emerges: 

Who is truly benefiting from the 

end of the illicit oil subsidy feast? 

ADEBAYO 

AFOLABI 

•Oil refinery 

There is a pressing need for the 

government to ensure transparency 

and accountability in managing the 

funds saved, reassuring the public 

that the end of subsidies is not 

merely a policy shift but a strategic 

move for the nation’s overall wellbeing. 

As Nigerians continue to observe the 

aftermath of the subsidy removal, 

the focus remains on whether the 

dividends will genuinely reach the 

average citizen or if the benefits 

will be concentrated elsewhere in 

the intricate web of the Nigerian 

economy. 


I am a passionate 

business writer with a 

knack for translating 

complex concepts into 

accessible content. With 

a keen eye for detail, I 

deliver compelling content 

that educates, inspires, 

and drives positive 

change in the realm of 

finance and business. 


| 25


DO PEOPLE 

KEEP NEW YEAR 

RESOLUTIONS? 

By Diiyi William-West 



new Year resolutions 

have become a 

common tradition 

for many individuals 

all over the world. As 

usual, as the clock 

struck midnight on December 

31st, many people began to 

eagerly make promises to 

themselves, vowing to improve 

their lives in various ways. 

However, the question remains: 

do people actually keep their 

New Year resolutions? The answer 

to this question may not be a 

straight ‘Yes’ or ‘No’. Therefore, 

it’s necessary to consider the 

reasons why some individuals 

successfully achieve their New 

Year resolutions while others 

fail, asserting that with the right 

mindset and approach, anyone 

can accomplish their goals for 

the year. 

One of the primary reasons 

why people fail to keep their 

New Year resolutions is the 

lack of commitment and 

determination. Many individuals 

make resolutions without fully 

understanding the effort and 

dedication required to achieve 

them. For instance, someone 

might resolve to lose weight but 

fail to commit to a consistent 

exercise routine or a healthy diet. 

Without strong willpower and 

perseverance, it becomes easy 

to abandon one’s resolutions 

when faced with challenges or 

setbacks. 

From observation, successful 

resolution keepers possess a 

strong sense of determination 

and discipline. They understand 

that achieving their goals requires 

consistent effort and are willing 

to make sacrifices to reach them. 

These individuals set realistic 

and achievable resolutions, 

breaking them down into smaller, 

manageable steps. By doing 

so, they create a roadmap that 

guides them towards success, 

making it easier to stay motivated 

and focused throughout the year. 

Another factor that contributes 

to the failure of New Year 

resolutions is the lack of 

accountability. Many people keep 

their resolutions to themselves, 

without sharing them with others 

or seeking support from friends 

and family. Without external 

accountability, it becomes 

easier to give up on resolutions 

when faced with obstacles or 

temptations. Additionally, without 

a support system, individuals 

may feel isolated and lack the 

encouragement needed to 

persevere. 

In contrast, successful resolution 

keepers understand the 

importance of accountability 

and support. They share their 

resolutions with trusted friends or 

family members who can provide 

guidance and encouragement 

along the way. By involving others 

in their journey, they create a 

sense of responsibility towards 

their goals, making it harder to 

abandon them. Furthermore, 

having a support system allows 

individuals to celebrate their 

achievements and seek advice 

during challenging times, 

increasing their chances of 

success. 

Lastly, a significant reason why 

people fail to keep their New 

Year resolutions is the lack of a 

specific plan or strategy. Many 

individuals set vague resolutions 

without outlining the necessary 

steps to achieve them. For 

example, someone might resolve 

to “be more organised” without 

specifying how they plan to do so. 

Without a clear plan, it becomes 

challenging to track progress and 

stay motivated. 

In contrast, successful resolution 

keepers develop a detailed 

plan of action. They break down 

their resolutions into specific, 

measurable, attainable, relevant, 

and time-bound (SMART) goals. 

By setting clear objectives and 

outlining the steps needed 

to achieve them, they create 

a roadmap that guides their 

actions throughout the year. This 

approach allows them to track 

progress, make adjustments 

when necessary, and stay 

motivated by witnessing their 

achievements along the way. 

In conclusion, the success of New 

Year resolutions largely depends 

on an individual’s commitment, 

accountability, and planning. 

While many people fail to keep 

their resolutions due to a lack of 

determination, accountability, 

and a specific plan, successful 

resolution keepers possess 

the necessary mindset and 

approach to achieve their 

goals. By understanding the 

reasons behind both success 

and failure, anyone can increase 

their chances of keeping their 

New Year resolutions. So, as the 

New Year approaches, let us 

approach our resolutions with 

determination, accountability, 

and a well-thought-out plan, 

ensuring a higher likelihood of 

success. 

DIIYI 

WILLIAM-WEST 


More fondly known as DDWEST, 

he has several years of media 

practice experience spanning 

magazines, newspapers, 

television and radio; laying 

emphasis on maintaining 

standards in media practice. He 

practised and lectured Public 

Relations for nearly a decade 

before going into leadership 

consulting and real estate 

consultancy. 


| 27


IS THE NJC AN 

INADVERTENT 

UNDERTAKER? 

By Dave Baro-Thomas 

judicial misconduct and corruption are global phenomena that 

portend grave danger for society and, no doubt, a national emergency. 

The point when the chairman of the Independent Corrupt Practices 

Commission, ICPC, declared the judiciary the most corrupt in terms of 

the incredible amount of bribes taken by judges handling political and 

electoral cases was the needed cue to “shut down” the entire system 

and demand surgical reforms - because as Justice Samson Uwaifo, 

a retired Justice of the Supreme Court puts it, a corrupt judge is more 

harmful than a man who runs amok wielding a dagger in a crowded 

street. While the man can be physically restrained, the corrupt judge 

deliberately destroys the foundation of society. 

•Abba Kabir Y 

The appellate court’s judgement 

in the matter between the sitting 

Governor of Kano State, Abba Kabir 

Yusuf of the NNPP, and his rival, 

Nasir Yusuf Gawuna of the APC, is 

making what looks like a cracked 

judiciary, broken and derailed in the 

eyes of Nigerians; the reason for this 

being that some critical contents 

of the certified true copy (CTC) of 

the judgement is in dissonance 

with the verdict given by the court 

during judgement and this ugly 

development is being lavishly 

discussed in the public courts. 

The Nigerian judiciary has never 

come under such intense scrutiny or 

disparagement by the public before 

now. The people’s criticism rages like 

a broken dam, and the consequences 

could be far-reaching if the keepers 

of the gate fold their hands and 

watch helplessly. 

What could embolden the politicians 

and the Nigerian public to poke their 

fingers in the eyes of the judiciary, 

the current attorney general of 

the federation wonders, or may 

be pretending about it? It was this 

same APC government, under the 

penultimate President, General 

Muhammadu Buhari, rtd, that opened 

the floodgate for the near desecration 

of the judiciary when the then Chief 

Justice of the Federation, CJN, Justice 

•Justice 

Olukayode 

Ariwoola 

•Justice Samso 



usuf 

•Nasir Yusuf Gawuna, 

APC chieftain 

Walter Onnoghen, was unjustifiably 

and tyrannically dragged to the market 

square and stripped naked before 

Nigerians – rubbishing the sanctity 

of the judiciary in this country! If the 

Federal Government, with access to 

a wide berth of intelligence, can say 

that the judiciary is corrupt and it was 

cancer stifling democracy, what can 

the average Nigerian do? 

This singular issue from Kano State 

has thrown up countless questions 

about the supposed sacredness of the 

judiciary, the impartiality of judges as 

well as corruption and sharp practices 

in the judiciary. And, it appears the 

National Judicial Commission, NJC, 

lacks the will to save the judiciary from 

this downward trajectory. 

To properly deal with this nuisance, 

the first port of call is the unmistaken 

groundswell of insinuations in the 

public court that one of the biggest 

problems in the judiciary is the NJC, the 

body entrusted with the responsibility 

of appointing or recruiting judges, 

equipping them for the job, ensuring 

their welfare and sanctioning erring 

ones but which has not lived up to this 

billing - the results are out there. 

Nigerians demand 

an overhaul of 

the judiciary, 

and until judges 

are disciplined, 

punished 

stringently and 

held accountable 

for their actions, 

progressive decline 

is inevitable. 

processes and dealings, could there be 

any hope for the judiciary? So, what is 

the verdict on the judiciary? Judiciary 

save thyself or remain in ignominy 

and utter disrespect! Because, alas! 

This NJC looks like an inadvertent 

undertaker! 

n Uwaifo rtd. 

•Justice Walter 

Onnoghen, former CJN 

Despite all the hue and cry from critical 

stakeholders, the feeble interventions 

from the NJC belie the required 

capacity, competence and operational 

governance required to salvage 

this bastion arm of government 

from imminent self-destruction. 

Nigerians demand an overhaul of 

the judiciary, and until judges are 

disciplined, punished stringently and 

held accountable for their actions, 

progressive decline is inevitable. 

The fact is if the NJC is politicised, 

insensitive, patronising, nepotistic, 

corrupt and undemocratic in its 

DAVE 

BARO-THOMAS 


A Banker, Special Project 

Executive (BusinessDay 

Media) and Event/Conferences 

Manager (Vanguard 

Newspapers). A Producer, Editor, 

Author/Publisher, (Development 

Post & Agrobusiness Times) 

Columnist, Voice-over artist, 

Content Specialist (Pan Atlantic 

University), Trainer, and 

Media Entrepreneur (GreenStel 

Communication/Zemeef 

Communications) with a strong 

flare for marketing 

and research. 


| 29

GL BAL InfoDIGEST 

How to Repair a Corrupted 

External Hard Drive. 

Wondershare Repairit is a data 

recovery and repair tool that can 

help repair corrupted files. 

However, if your external hard drive is 

corrupted due to file system errors or 

software issues, you can use 

Wondershare Repairit to attempt file 

recovery and repair. Here's a general 

process to use Wondershare Repairit to 

repair a corrupted external hard drive: 

1. Download and Install 

Wondershare Repairit: 

Start by downloading and 

installing Wondershare Repairit 

on your computer. Make sure to 

get the latest version from the 

official website. 

2. Connect the External 

Hard Drive: 

Connect the corrupted external 

hard drive to your computer. 

Ensure it is recognized by your 

operating system. 

3. Launch Wondershare 

Repairit: 

Run the Wondershare Repairit 

software. 

4. Select the Drive or File: 

In the software, select the 

corrupted external hard 

drive or the specific file 

that you want to repair. 

5. Scan the Drive: 

Click the "Start" button 

to initiate a scan 

of the drive or file. 

Wondershare Repairit 

will search for issues 

and corrupted data. 

6. Preview and 

Repair: 

After the scan is 

complete, you'll see a list 

of recoverable files. Preview 

the files to ensure they are 

intact. 

7. Select Files for 

Repair: 

Choose the files you want 

to repair, and click on the 

"Recover" or "Repair" button. 

8. Save Repaired Files: 

Specify a location on your 

computer or another storage 

device to save the repaired 

files. Do not save them to the 

same external hard drive. 



•External 

Hard drive 

9. Check Repaired Files: 

Once the repair process is complete, verify that 

the repaired files are accessible and functional. 

10. Backup and Format the External 

Hard Drive: 

If your external hard drive was the source of the 

corruption, consider backing up any remaining 

data, and then format the drive to ensure it's in a 

healthy state for future use. 

* Editor's Note: This piece was written by 

Louie Morgan and published by Quora.com. 

ANECDOTE 

FROM LATE 

PROF. CHINUA 

ACHEBE 

rat swallowed a 

A diamond. The owner 

of the diamond contacted 

a hunter to kill it. When the 

rat hunter arrived, there 

were more than a 1,000 

rats bunched up and one 

sitting by itself away from 

others. The hunter spotted 

and killed the one sitting 

by itself. To the surprise of 

the owner of the diamond, 

the rat the hunter killed 

was the one that had 

swallowed the diamond. 

The amazed owner of 

the diamond asked: "How 

did you know it was that 

rat?" He responded, "Very 

easy. When idiots get rich, 

they don't mix with others!" 

(The Editor would like to 

receive readers' opinion on 

the moral of this story.) 

* Editor's Note: This piece 

was posted by Gboyega 

Olokunbola on LinkedIn. 

• Tool Kit 


| 31


14 

7. The saddest aspect of life 

right now is that science gathers 

knowledge faster than society 

gathers wisdom. - Isaac Asimov. 

8. Hold fast to dreams. For if 

dreams die, life is a brokenwinged 

bird that cannot fly. 

- Langston Hughes. 

9. Count your age by friends, not 

years. Count your life by smiles, 

not tears. 

- John Lennon. 

Wisdom Quotes 

for 

High Fliers 

11. May you live every day of your 

life. - Jonathan Swift. 

12. It is the mark of an educated 

mind to be able to entertain a 

thought without accepting it. 

- Aristotle. 

13. Any fool can know. The point 

is to understand. - Albert Einstein. 

14. The secret of life, though, is 

to fall seven times and to get up 

eight times. - Paulo Coelho. 

• Nassef Sawiris 

1. The fool doth think he is 

wise, but the wise man knows 

himself to be a fool. 

- William Shakespeare. 

2. It is better to remain silent 

at the risk of being thought a 

fool, than to talk and remove 

all doubt of it. 

- Maurice Switzer. 

3. Whenever you find yourself 

on the side of the majority, it is 

time to reform (or pause and 

reflect). - Mark Twain. 

4. When someone loves you, 

the way they talk about you 

is different. You feel safe and 

comfortable. - Jess C. Scott. 

5. Knowing yourself is the 

beginning of all wisdom. 

- Aristotle. 

6. The only true wisdom is in 

knowing you know nothing. 

- Socrates. 

10. In a good bookroom, you feel, 

in some mysterious way, that 

you are absorbing the wisdom 

contained in all the books through 

your skin, without even opening 

them. - Mark Twain. 

• Mr. Singh 

* Editor's Note: This set of quotes 

were originally published by 

Goodreads (www.goodreads. 

com) with a different title. 



1 

2 

3 

4 

5 

6 

7 

Unspoken Rules 

for Winners 

Listen more than you speak, but 

when you speak, speak slowly, 

calmly and directly. 

Never be afraid to say “I don’t 

know”, and then ask for help. 

Be humble when you win and 

gracious when you lose. 

The one thing no one can take 

from you is your word. Never 

break it for anyone. 

Always choose the harder right 

over the easier wrong. 

Always do things the right way… 

even when no one is watching. 

Never, under any circumstances, 

no matter how bad you think it 

is…never hit a girl. 

8 

Never gossip, spread 

innuendo or talk behind 

someone’s back. Anything 

that you have to say, say it to 

the person’s face. Be a man. 

9 

Never lie or deceive anyone. 

The truth sometimes hurts, 

but everyone will respect you 

for it. 

10 

Never take advantage 

of others or manipulate 

people to serve your own 

needs and desires. 

11 

Always stand up for the 

people who cannot do it 

themselves. Be a protector, 

not a predator. 

12 

Always take your hat off 

when you are indoors or at 

a place of worship. 

13 

Be proud of your country, 

your heritage and your 

family’s lineage. 


was originally published 

by Human Mind Readers on 

Quora.com. Title was edited. 

LIVING SMART 

Mr. Singh walks into a 

bank in London and asks 

to see the bank manager. 

He explains he's going to 

Europe on business for two 

weeks and needs to borrow 

£5000. The Manager says the 

bank will need some kind of 

security for the loan, so Mr 

Singh hands over the keys 

to a new Rolls Royce, which 

costs quarter of a million 

pounds. 

“The car is parked on the 

street in front of the bank,” 

says Mr Singh, “and I have all 

the necessary papers.” 

The bank manager agrees to 

accept the car as collateral 

for the loan. After Mr Singh 

leaves, the manager, the 

bank's area manager and 

all their colleagues enjoy a 

good laugh at the man for 

using a £250,000 Rolls Royce 

as collateral against a £5,000 

loan. One of the employees 

drives the Rolls into the 

bank's underground carpark 

and parks it there. Two weeks 

later, Mr Singh returns, repays 

the £5000 and the interest, 

which comes to £15.41. 

The manager says, "Sir, 

I must tell you, we’re all 

a little puzzled. While you 

were away, we checked you 

out and discovered that 

you’re a multimillionaire. 

Why would you bother to 

borrow £5,000?" 

The man replies, "Where 

else in London can I park 

my car for two weeks for 

only £15.41?" 


was written by Ana Lorde 

and published by Quora 

com. 


| 33

INTERVIEW 

Chuks 

Akamadu 

Devoted to Making ‘Cultour’ the 

Mainstay of Nigeria’s Economy 


Only few people literally “live in” their passion for 

any cause they have set their hearts on. For such 

unique individuals, their thoughts, words and 

actions reveal their zeal to influence positive 

developments in the field of endeavour they engage in. One 

only needs to spend a few minutes with Mr. Chuks 

Akamadu, a lawyer, youth activist, entrepreneur, public 

affairs analyst and author to see how passionate he is 

about making ‘cultour’ (his coinage for jointly driving 

culture and tourism for more far-reaching economic 

prosperity) a reality. Accomplish Magazine Interviewed 

Akamadu after the public unveiling of his second book, 

“Harnessing Cultour for Economic Growth”. With the critical 

state of the Nigerian economy, the views he presented in 

the book could make a difference. 


INTERVIEW 


| 35

INTERVIEW 

• Chuks Akamadu flanked by his wife, Michelle and Book launch Chairman, 

Maj-Gen IBM Haruna (Retd) at the pub;ic presentation of HARNESSING 

CULTOUR FOR ECONOMIC GROWTH on November 30, 2023 

Accomplish Magazine: 

Please, introduce 

yourself to our readers. 

My name is Chuks 

Akamadu; a lawyer 

with primary bias 

in copyright law, a 

cultour entrepreneur 

and scholar. I’m the 

Managing Director of 

Afrocultour Limited. 


The name of your 

company, Afrocultour, 

is unique. Judging by 

the title of your book 

unveiled on November 

30, it seems you have 

been working on the 

‘cultour’ combo for 

some time. Tell us 

about Afrocultour, 

especially ‘cultour’. 

Actually, the Afrocultour 

idea was conceived 

after my stint at 360 

Entertainment Limited, 

where I had functioned 

as pioneer General 

Manager. Before 

then, I also had had 

the opportunity of 

functioning both as 

Head of Media and 

Publicity and Secretary 

General of Performing 

Musicians Employers’ 

Association of Nigeria 

(PMAN). I guess it was 

my administrative 

and general industry 

knowledge that 

inspired me to establish 

Afroculour Limited in 

2008. 

Fundamentally, I was 

sufficiently persuaded 


INTERVIEW 

that the artificial or should 

I say purported separation 

of culture and tourism was 

doing the industry more 

harm than good, especially 

in a struggling economy 

that desperately needed 

to optimise the economic 

potential of an industry I was 

too sure could perform better 

than it was doing at the time. 

In effect, Afrocultour Limited 

was my first bold assertion 

in this regard and a private 

sector initiative that sought to 

mainstream cultour into the 

economies of Africa, African 

states and local communities. 


What inspired you to write 

“Harnessing Cultour for 

Economic Growth”, a book 

that has been widely hailed 

as bold and timely? 

Without a shred of doubt, 

it was in furtherance of 

Afrocultour Limited’s vision 

and mission, on the one 

hand, and the urgency of 

the times as regards the 

imperative of economic 

diversification in Nigeria, on 

the other hand. Additionally, 

having successfully done 

post-graduate academiccum-professional 

studies in 

both Cultural Administration 

and Tourism Management, 

I thought the least I owed 

the sector, as a competent 

player and scholar, was 

to share my thoughts 

on how best to relocate 

cultour from the fringes of 

our national economy to a 

place of deserved relevance 

and priority, for the overall 

well being of Nigeria and 

Nigerians. 


Some people think your 

book is both expository 

and explosive. Do you think 

leaders at various levels 

of governance will rise to 

the challenge of treating 

“cultour” beyond “leisure” 

as you advocated in the 

book? 

I have made my modest 

intervention. What is left to 

be seen is whether or not 

the government, national 

and sub-national, would 

find the nerve to accept the 

blunders of the past, the 

current unacceptable state 

of affairs and the urgent 

need to redeem the future by 

embracing the cultour model 

which my book satisfactorily 

explains and quickly hit the 

ground running. 

Let me, at this point, pause 

to give the immediate past 

government a pat on the 

back for making the Nigerian 

Development Tourism 

Authority (NTDA) Act 2022 

come through. Truth is that 

the abundant deficiencies 

of the NTDC Act actually hurt 

the cultour industry while it 

lasted. So, the expectations of 

stakeholders which my book 

harped on is that the present 

administration should move 

in swiftly to consolidate on 

that milestone by ensuring a 

conclusive review of Nigeria’s 

Policy for Culture 1988, which 

is too obsolete and actually 

an embarrassment to the 

country. 

Likewise, the 2005 Nigerian 

Tourism Development Master 

Plan is outdated and can 

no longer respond to the 

prevailing needs of the sector. 

But again, why should a 

tourism-strong country like 

Nigeria be making do with a 

master plan? What stops us 

from having a tourism policy 

under which master plans 

can be accommodated? 

As my book pointedly 

argues, what we actually 

need – and urgently, too – 

is an integrated three-part 

National Cultour Policy that 

provides a definite direction 

for the sector under three 

key subheads namely: 

culture, tourism and creative 

• Mr. Aso Vakporaye, Director Economic Growth at the maiden edition of 

Nigeria Entertainment and Economic Roundtable organized by Afrocultour 

Limited and hosted by Lagos State Government. 


| 37

INTERVIEW 

economy. These three 

are inseparable, mutually 

supportive, administratively 

convenient and more 

than anything else, bear 

much more economic 

fruits when allowed to stay 

merged. My thoughts on 

this are elaborately shared 

in Harnessing Cultour for 

Economic Growth, and I 

challenge scholars to 

vacate my thesis. 


Wow! That’s quite 

a bold declaration 

to make! In your 

book, you stated that 

Nigeria’s 35-yearold 

cultural policy 

is unsuitable for real 

progress. Our readers 

would like to know why. 

The reason is simple: the 

document is no longer 

suitable. It might have made 

a lot of sense in the military 

era, but I can assure you that 

having read it cover to cover 

countless times, the policy 

didn’t have in contemplation 

the rapidly growing economic 

prominence of cultour, nor did 

it envisage the dramatic twist 

that is being experienced in 

the cultour sector on account 

of robotics and artificial 

intelligence. Moreover, the 

competition in the global 

economic firmament has also 

become much fiercer to the 

point that nations are now 

concentrating more on where 

they have comparative and 

competitive advantage. 


You practically stated 

that some people in the 

tourism and culture industry 

have contributed to the 

stagnancy in the industry. 

Can you explain that? 

Oh yes! The guilds in the 

industry and their leaders are 

Let 

me, at this 

point, pause to 

give the immediate 

past government a 

pat on the back for 

making the Nigerian 

Development Tourism 

Authority (NTDA) 

Act 2022 come 

through. 

actually part of the problem 

assailing the industry 

today. That much I used my 

personal experience at PMAN 

to illustrate. People have to 

read the book to see what I 

mean in detail. 

Accomplish Magazine: You 

wrote about your rejection 

of the call for a National 

Endowment for the Arts and 

stated your preference for 

full commercialisation of 

the arts through “cultural 

entrepreneurship”? Like 

‘cultour’, is this also your 

original idea? 

Cultural entrepreneurship 

is, unlike cultour, not my 

brainchild. But I seem to be 

swimming against the tide 

by arguing that the arts 

subsidy called “National 

Endowment for the Arts” 

should be jettisoned for full 

commercialisation of the 

arts by means of promoting 

‘Cultural Entrepreneurship’. 

I personally think that 

that advocacy had since 

become wrong-headed and 

unsuitable for the dire straits 

Nigeria has found herself in at 

present. 


Looking at Nigeria’s 

economy, what 

can respective 

governments do 

to boost the local 

economy and foreign 

exchange earnings 

besides cultour? 

My answer would be 

culture, tourism and 

creative industry; the product 

(not sum) of which would still 

be cultour! (Laughs heartily). 

DIIYI 

WILLIAM-WEST 





magazines, newspapers, television 

and radio; laying emphasis 

on maintaining standards in 

media practice. He practised 

and lectured Public Relations for 

nearly a decade before going into 

leadership consulting and real 

estate consultancy. 


CCOMPLISH 


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OUR VISION: 

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manufacturing, agriculture, 

academia, administration, 

entertainment and innovation in 

Nigeria, Africa and, 

indeed, globally. 

+44 7424 594773, +234 815 262 6743

GRAND DESIGN / ARCHITECTURE 

By Damian Ikenna Ngere 

• Zaha Hadid Architects Reshapes Modern Landmark for Prag 

as They Complete the Spectacular Masaryčka Building Façad 

Prague’s urban landscape is being reshaped by the towering 

Masaryčka building, a landmark designed by Zaha Hadid Architects. 

This 28,000-square-metre office and retail complex is divided into 

two parts: a seven-story eastern section and a nine-story western 

section. It is designed to accommodate the expanding corporate 

sector while maintaining modern working practices. Integrating 

Masaryčka’s design with Czech Railways’ modernisation of the 

historic Masaryk Railway Station is one of its key features. In addition 

to improving accessibility to the platforms below and creating 

pedestrian routes between Florenc and Hybernská on either s 

the station, this cooperative effort creates a new public squar 

is partially over the railway tracks. Now that the facade is finish 

project should open in 2026. 

With the Masaryčka building, Zaha Hadid Architects has broug 

new life to a long-abandoned site next to the railway platform 

Masaryk Station to the south. 


GRAND DESIGN / ARCHITECTURE 

oversaw the design and 

development process. 

The official 

groundbreaking for the 

structure is scheduled for 

2024. The designs aim to 

provide a forum for public 

and communal reflection. 

• Design for the Memorial at the Tree of 

Life Synagogue in Pittsburgh Revealed by 

Studio Libeskind 

Working closely with 

the Memorialisation 

Working Group, Studio 

Libeskind has released 

the initial concept for the 

memorial for the eleven 

people who were slain on 

October 27, 2018, at the 

Tree of Life Synagogue in 

Pittsburgh, United States. 

The families of the victims 

and communal leaders 

For this reason, the 

outdoor area at the 

intersection of Shady and 

Wilkins avenues will be 

redesigned as a gathering 

space. The rebuilt 

structure will contain the 

Tree of Life congregation, 

as well as areas for 

learning and scholarship 

and the country’s first 

museum devoted to 

examining the causes and 

contemporary expressions 

of anti-Semitism in the 

United States. 

ue 

e 

ide of 

e that 

ed, the 

ht 

s of 

• Neil Dusheiko Architects 

Transforms London Terrace, 

Infusing Owner with Nature 

Renovated by local studio, 

Neil Dusheiko Architects, 

House of the Elements is a 

Victorian home in London 

defined by a charredtimber 

extension and a 

green wall. The Peckham 

home was renovated to 

brighten its gloomy, closedoff 

interior and help bring 

nature in, with the goal 

of emulating a ‘spa-like 

retreat’. 

Neil Dusheiko Architects 

expanded the building’s 

rear with charred timber 

siding while also opening up 

the interior to the exterior. 

The late-19th-century 

home now has a number 

of skylights, voids, and 

openings added to it, 

including a double-height 

area that is surrounded by 

a living wall. 

The late-19th-century 

home now has a number 

of skylights, voids, and 

openings added to it, 

including a double-height 

area that is surrounded by a 

living wall. Plaster mouldings 

and the original fireplace 

still stand in the front living 

area and entrance hall of 

House of the Elements. 

Complete with 

contemporary furniture, 

white-painted walls, and 

wooden floors, the living 

room opens into a doubleheight 

space that joins 

the addition to the original 

house. 

DAMIAN 

IKENNA NGERE 









| 41

Going Into Rea 


Estate Busine 

In Nigeria Part 2 

in order to be successful in the real estate industry, one 

should have good knowledge and information of the 

field. The basic guide provided here will equip you with 

the knowledge you need to acquire to start your own 

very successful real estate business in Nigeria. 



l 

ss 

1. Have a Strategic 

Business Plan. 

You need to strategically plan 

your business to be able to 

conquer the market. Investing 

in real estate is just like 

starting any other commercial 

endeavour; you can’t start on 

a whim - without having a 

specific business plan in mind. 

A business plan is vital for any 

real estate investor, and one 

of the best advice you’ll get 

in the housing market is to 

start out small and plan, plan, 

plan! This step is especially 

important if you’re planning on 

becoming a real estate investor 

for the long term. In this case, 

you want to grow your real 

estate investment portfolio 

strategically. 

2. Build a Unique 

Brand. 

Brand credibility is important in 

building a successful business 

in Nigeria especially when it 

has to do with the investment 

of millions of naira. Branding is 

all about creating a perception 

about your business in the 

minds of people. 

To turn your real estate 

business into a trustworthy 

brand, you need to give your 

customers more than enough 

value for their money and build 

a relationship by engaging with 

them on a personal level. 

Also, set your own real estate 

business apart from the 

competition by investing in 

premium branding identities 

such as logo, website, adverts 

and more. 

3. Legally Register 

the Business. 

If you really want to take 

the business to the highest 

level possible, then you have 

to legalise its existence by 

registering the business 


| 43


with the Corporate Affairs 

Commission (CAC). Registering 

as a business name with CAC is 

enough at this stage if you can’t 

afford to register it as a limited 

liability company (LLC). 

Also, search out for and abide 

with the rules and regulations 

guiding professional real estate 

bodies in Nigeria to ensure 

that you are not operating 

against the law. Some of the 

popular real estate professional 

institutions to look out for 

include: Association of Estate 

Agents in Nigeria (AEAN), Real 

Estate Developers Association 

of Nigeria (REDAN) and Nigerian 

Institution of Estate Surveyors 

and Valuers (NIESV). 

4. Raise the Required 

Capital to Start. 

If you do your business 

research well, you would know 

the minimum amount of money 

it will require to get you started, 

depending on the scale at 

which you choose to start. If 

your savings and financial 

capacity are not enough 

to start, you can source for 

alternative fundings. 



Real estate business is very 

capital-intensive and requires 

a huge amount of investment. 

If you do not have enough, 

it is important that you look 

for investors. You can look for 

equity investors that can give 

you enough leverage in the 

beginning and accelerate 

growth. 

5. Get Started and 

Get Working. 

The last step to starting a 

real estate holding company 

is execution. Execute on 

everything that you’ve 

developed in your business 

plan. A good number of 

Nigerian businesses fail due to 

very poor execution. Execution 

comprises of your day-today 

activities in the business. 

This includes the closing of 

deals, passionate marketing, 

networking, client orientation, 

human resources etc. 

Starting a real estate business 

isn’t for the faint-hearted. 

Therefore, to be successful, 

you must be prepared to face 

the challenges that will surely 

come. At a personal level, and 

as a business owner, nurture 

your ambitions and become a 

goal-oriented and organised 

person. Keep in mind that the 

real estate sector is not about 

achieving instant success. 

Instead, it is a long-term game, 

which requires a lot of patience. 

Conclusion 

Starting your own real estate 

business in Nigeria is a journey 

filled with opportunities and 

challenges. By following the 

steps outlined in this guide 

and staying committed to your 

goals, you can pave the way 

for a successful venture in this 

dynamic industry. 

Remember to invest in your 

real estate business logo as it is 

more than just a visual symbol. 

It represents your brand’s 

identity and values. Just as 

you carefully select properties 

and build client relationships, 

give equal thought to creating 

a logo that resonates with 

professionalism and trust. 

JOHN 

ABIODUN OLAITAN 

AUTHOR BIO 

John Abiodun Olaitan is a real 

estate consultant, realtor and 

emerging developer and CEO 

of Arklanded Properties Ltd. 

He diversified into real estate 

after decades of experience 

in the oil and gas sector. He’s 

happily married 

with children. 


| 45

THE INCUBATOR 

with Diiyi William-West 

SERIES 

Master Your 

Operational 

Environment 

....Philip Gill, of Explic8 says 

“developing a culture of 

operational excellence requires 

time, commitment, and a 

collective effort from all levels of 

the organization. 

many people 

have 

gone into 

business 

or chosen 

a career 

inspired 

by mere whims; they board such 

flights with, perhaps, readyto-spend 

cash as the only 

‘qualification’ they possess. In fact, 

in some cases, even the available 

cash is borrowed or received 



as aid. Just imagine someone 

starting a juice packaging 

business with ‘adequate cash’ 

in the bank and nothing more 

certain. No knowledge of where 

to get the best raw materials 

at most competitive costs, no 

knowledge of competitors’ 

market size and prices, and no 

knowledge of the core target 

market! Wouldn’t we equate 

that to pouring resources into a 

bottomless pit? Should we refer to 

that as ‘wastage’ or ‘investment’? 

Have you done anything like this 

or do you know someone who 

did? As you consider this, you 

should understand the need to 

master the environment you are 

already operating in or about to 

get into. 

What does ‘operational 

environment’ mean? The term 

has a military background; it 

was first used in military circles. 

However, with time, it began to 

enter the lexicon of other fields of 

endeavour. 

With regards to business, for 

instance, www.the-definition. 

com opines that an “operating 

environment is the ecosystem 

in which a business operates. 

It comprises various factors 

that can directly or indirectly 

impact business operations, 

performance, and long-term 

sustainability”. For a businessman, 

these factors will include: 

political, security, economic, 

social, information, infrastructure, 

physical environment, and time. 

On its part, www.igi-global. 

com says “the operational 

environment of an organisation 

consists of the organisation and 

its stakeholders, social networks, 

the local community and society. 

The organisation has to adapt 

its internal processes, resources 

and capabilities to the changing 

operational environment in the 

strategic plan.’ 

Drawing from these, we can see 

that every field of endeavour has 

its own operational environment. 

Therefore, there’s political 

operational environment, legal 

operational environment, 

judicial operational environment, 

business operational 

environment, legislative 

operational environment, 

economic operational 

environment, cultural operational 

environment, diplomatic 

operational environment etc. 

Experts at www.the-definition. 

com have categorised how the 

operational environment of a 

business can be ascertained. 

First is appreciating your firm’s 

competitive position which refers 

to strong or otherwise you are in 

the market. There’s composition 

of customers which refers to the 

demographic references of your 

firm’s customers or clients. Next is 

reputation among suppliers and 

creditors. In this case, it’s about 


| 47


the value these stakeholders 

place on your business based on 

what they know about you and/or 

your firm. There’s also the ability 

to attract capable employees; 

which is self explanatory. threat, 

one thing’s for sure: globalization 

isn’t going anywhere, and we 

all have a role to play in this 

interconnected world. 

These and other factors directly 

and indirectly affect a firm’s 

operations, performance and 

sustainability - from the shortterm 

to long-term. The businessminded 

person would give good 

attention to these factors with 

open-mindedness in order not 

to take anything for granted 

while also seeking win-win 

proactive or reactive responses to 

developments that arise from the 

aforementioned. This is what is 

meant to master your operational 

environment. 

Philip Gill, of Explic8 says 

“developing a culture of 

operational excellence requires 

time, commitment, and a 

collective effort from all levels 

of the organization. It’s not a 

quick fix, but the benefits—such 

as increased efficiency, higher 

quality, and improved customer 

satisfaction—are well worth the 

investment.” 

His recommended strategies 

for winning in the operational 

environments are: 

i. Lead by example so others 

can follow; 

ii. Clearly define objectives of 

your firm; 

iii. Empower your employees to 

take initiatives; 

iv. Encourage continuous 

learning; 

v. Ensure transparent, effective 

communication and encourage 

feedback; 

vi. Apply current data in making 

decisions; 

vii. Standardise your firm’s 

operational processes; 

Many people have gone into business or chosen 

a career inspired by mere whims; they board such 

flights with, perhaps, ready-to-spend cash as the 

only ‘qualification’ they possess. 

viii. Use recognition and 

rewards for staff, suppliers, 

creditors or customers that go 

the extra mile to boost your 

firm’s performance; 

ix. Encourage collaboration 

across departments; and, 

x. Embrace change and remain 

adaptable - as long as they 

keep your firm on the path of 

progress. 

DIIYI 

WILLIAM-WEST 


xi. celebrate each milestone or 

achievement the firm makes. 

xii. Make operational excellence 

a sustainable effort through 

regular reviews and process 

updates. 

Conclusion 

As you master your operational 

environment, your operational 

environment will keep yielding it’s 

best to you! 

More fondly known as DDWEST, he has several years of media practice 

experience spanning magazines, newspapers, television and radio; 

laying emphasis on maintaining standards in media practice. He 

practised and lectured Public Relations for nearly a decade before 

going into leadership consulting and real estate consultancy. 


AFRICA RISING: NEWS ABOUT AFRICA 



South Africa Settles for Nuclear 

Power to Tackle Electricity 

Challenges 

South Africa, which is 

economically devastated by 

severe electricity problem and 

frequent power outages, aims 

to enhance its nuclear power 

production, which is currently 

marginal, according to the 

government’s announcement on 

Tuesday, December 12, 2023. 

Africa’s largest industrial 

power now has the only nuclear 

power facility on the continent. 

However, the facility located 

near Cape Town, Koeberg, is only 

running at half capacity. 

The government declared 

that it had begun talks with 

“several potential suppliers” 

on the purchase of additional 

production facilities. These could 

be small modular reactors, 

which are less expensive and 

less powerful than conventional 

reactors. 

At a press briefing, Zizamele 

Mbambo, the Ministry of Energy’s 

nuclear power coordinator, 

expressed optimism that the first 

reactors will be put into service 

by 2032-2033. 

IMF Announces Somalia as 

Beneficiary of $4.5bn Debt 

Relief to Propel Economic 

Recovery 

In order to pay off its debt, 

Somalia will gain access to a 

US$4.5 billion debt reduction 

plan with international creditors, 

the International Monetary Fund 

(IMF) said in a statement on 

Wednesday, December 13, 2023. 

The International Development 

Association (IDA), a World Bank 

organisation that provides loans 

to the world’s poorest countries, 

and the Executive Boards of the 

IMF approved this debt relief for 

Somalia. The Heavily Indebted 

Poor Countries (HIPC) Initiative 

was used to carry it out. 

The IMF contributed US$343.2 

million, IDA contributed 

US$448.5 million, and the 

African Development Fund 

(ADF) contributed US$131 million 

towards debt service reduction 

or interest on these loans. In 

addition to the US$573.1 million 

from other multilateral creditors, 

the $3 billion came from bilateral 

creditors and organisations like 

the Paris Club. 

The IMF and the other 

institutions stated that they 

have “determined that 

Somalia has made satisfactory 

progress towards meeting the 

requirements necessary to reach 

the HIPC completion point”. 

Jumia Halts Food Delivery 

Operations in Seven Markets 

Jumia Technologies, a prominent 

e-commerce platform in 

Africa, reportedly stopped 

delivering food in seven different 

markets, according to reports in 

December 2023. 

Reuters said on Wednesday, 

December 13, that the company’s 

primary goal will be to expand its 

online retail division. A little over 

11% of Jumia’s total merchandise 

value for the nine months that 

concluded on September 30, 

came from Jumia Food. 

At the time of the 

announcement, the meal delivery 

service was available in Ivory 

Coast, Algeria, Morocco, Kenya, 

Uganda, Nigeria, and Tunisia. 


TECHNOLOGY 

POLITICS 

Senegal: Sonko’s Supporters 

Jubilant as Court Clears His Path to 

Run for Office 

In Senegal, there is joy among those 

who support opposition politician, 

Ousmane Sonko. A Dakar court on 

Thursday, December 14, ordered the 

opposition leader to be added back 

to the electoral roll, removing one 

obstacle from the already treacherous 

route leading to the 2024 presidential 

election. 

Sonko has until Tuesday, December 

26, to submit his presidential 

candidacy. It’s unclear, though, if the 

administration will agree to give him 

the paperwork he needs to submit his 

candidacy. 

Rwanda Relaxes Nightlife 

Restrictions as Festive Season 

Approaches 

Just in time for the holiday season, 

Rwanda’s government had relaxed 

operating restrictions for bars, 

nightclubs, and entertainment 

TotalEnergies launches construction of a solar plant with 

battery storage in South Africa 

TotalEnergies and its partners started construction on a massive 

hybrid renewables project in South Africa that will include a 

500 MWh battery storage system in addition to a 216 MW solar 

plant with the goal of managing the intermittent nature of solar 

production. The site, which is in the province of the Northern Cape, 

will provide the South African national grid with dispatchable 

renewable electricity for twenty years, or more than 400 GWh 

annually. As per the terms of a Power Purchase Agreement signed 

in November 2023, the project will continuously supply 75 MW of 

dispatchable power to the national utility Eskom from 5 a.m. to 9.30 

p.m., or longer than the available sunshine, because of the storage 

system. 

A group led by TotalEnergies (35%), Hydra Storage Holding1 

(35%), and Reatile Renewables (30%), a B-BBEE2 partner, is 

developing the project. As part of the Department of Mineral 

Resources and Energy’s Risk Mitigation Independent Power 

Producer Procurement Programme, which aims to increase the 

country’s capacity for producing electricity and ease its supply 

constraints, it reached financial close on December 14 and is 

anticipated to begin operations in 2025. 

all of East Africa. 

venues. When these limitations 

on “non-essential services” were 

first put in place, in September 

2023, to address worries about 

“noise pollution” and public 

disturbance, they were met with 

opposition, particularly from 

owners of nightclubs, restaurants, 

and hotels who had to reduce 

their business hours. A reprieve 

was declared by the state-run 

Rwanda Development Board. 

Bars are allowed to remain open 

until 2:00a.m. (local time) from 

December 15, 2023 to January 17, 

2024. Additionally, there are no 

restrictions on Fridays, weekends, 

or public holidays. 

The board has issued a stern 

warning against infractions 

despite this relaxation, stressing 

the importance of establishments 

adhering to noise pollution 

regulations. 

DAMIAN 

IKENNA NGERE 


Ikenna is a graduate of Physics and 

Education, who works as a freelance 

writer. He has interest in technology, 



| 51

GLOBAL NEW 

TECHNOLOGY 

By Damian Ike 


Open AI CEO Fuels 

Impressive Growth 

of Worldcoin 

Following Successful 

Fundraising Report 

Sam Altman, the CEO of 

OpenAI, has reaffirmed his 

goals for the cryptocurrency 

project, Worldcoin, in the 

wake of rumours that the 

business was looking for $50 

million in funding. According 

to Worldcoin, its goal is to 

establish a global financial 

network and identity. 

In exchange for a digital ID 

and free cryptocurrency, 

over 2.6 million people have 

signed up to have their irises 

scanned by Worldcoin’s “orb” 

devices. 

Fed Rate Outlook 

Triggers Dollar’s 

Darkest Week in 5 

Months 

Due to weekly gains of the euro 

and pound sterling, combined 

with the possibility of rate cuts 

from the Federal Reserve and 

a tough stance on monetary 

policy from European central 

banks, the dollar was headed 

for its biggest weekly decline 

in five months on Friday, 

December 15. 

The Bank of Japan was the 

final major central bank to meet 

in December 2023, and traders 

and investors wondered if it will 

announce that it is ending its 

policy of maintaining ultra-low 

interest rates. 

. 

China’s Industrial 

Growth Reaches 

Extraordinary Heights, 

Breaks 2-Year Speed 

Record 

China’s industrial output 

increased in November 2023 at 

its fastest rate since February 

2022, according to data 

released on Friday, December 

15. However, retail sales 

growth fell short of forecasts, 

suggesting that the secondlargest 

economy in the world is 

only slowly recovering. 

With a small base effect, 

economists are approaching 

the China data cautiously. In 

the latter quarter of 2022, the 

country was nearing the end of 

its strict zero-Covid curbs, which 

had a negative effect on the 

economy. 

. 

US Bank Shares Eye 

Future Surge as Loan 

Growth Prospects Rise 

from Rate Cuts 

U.S. bank stocks continued their 

rally before the bell on Friday, 

December 15, following the 

Federal Reserve’s dovish stance, 

which increased the likelihood 

of interest rate cuts in early 

2024. These gains were driven 

by the expectation of higher 

loan growth and lower deposit 

costs. Gains in big and regional 

bank stocks contributed to the 

industry reaching its highest 

point since three mid-sized 

lenders failed because of lack of 

liquidity in early March 2023. 


S ROUND UP 

nna Ngere 

ENTREPRENEUR 

POLITICS 

Israel-Hamas Clashes 

Shake Gaza to Its Core 

as US Strives to Ensure 

Safety of Civilians 

Witnesses reported that Israeli 

and Hamas forces engaged 

in combat throughout Gaza 

on Friday, December 15, 

indicating that Israel’s ground 

offensive was running into more 

resistance as the United States 

pressed its ally to change a 

war plan that had resulted in 

a significant number of civilian 

deaths. There was fighting 

in Sheijaia, Sheikh Radwan, 

Zeitoun, Tuffah, and Beit Hanoun 

in north Gaza, east of Maghazi in 

central Gaza, and in the centre 

and northern outskirts of Khan 

Younis, the main southern city, 

according to residents of the 

small enclave. 

US Senate 

Contemplates Funding 

Ukraine, Enhance 

Border Security amidst 

Global Crises 

The United States’ Senate 

Majority Leader, Chuck 

Schumer, announced on 

Thursday, December 14, that 

negotiations over changes to 

U.S. border security policy that 

would be tied to funding are 

ongoing. The U.S. Senate will 

vote on military aid for Ukraine 

and Israel next 

week. 

In order 

to give 

negotiators 

more time 

to come to a 

consensus, 

the Senate 

reconvened 

on Monday, 

December 

18, instead of 

starting its 

holiday break 

on Friday, 

December 15. 

Elon Musk Commits 

Resources to Launch 

Futuristic School in 

Austin, Texas 

Elon Musk’s associates intend 

to use nearly a $100 million 

donation from the billionaire to 

help establish a new elementary, 

secondary, and eventually 

university in Austin, Texas, 

according to tax documents. 

The move might indicate that 

Musk wants to further build his 

empire of influence beyond X, 

the enormous communication 

platform he currently oversees 

as well as the numerous other 

businesses he owns and 

manages, his investments in 

the development of artificial 

intelligence and his interactions 

with international leaders. 

DAMIAN 

IKENNA NGERE 









| 53

CHALLENG 

OPPORTUN 

AI FOR BUS 

Ai TODAY & TOMORROW 


in today's tech-driven world, businesses are not 

sitting on the sidelines when it comes to (artificial 

intelligence) AI. They're actively using it to benefit 

their operations. AI is not just for specific industries; 

it's something businesses of all sizes are getting into. 

They see AI as a way to grow, make better decisions, 

and stay competitive. 

In the realm of business, it is important to recognise 

that challenges accompany the adoption of AI. Despite 

the potential benefits that come with integrating AI into 

business operations, businesses find themselves grappling 

with a set of challenges. 

One significant challenge for businesses venturing into 

AI is the financial burden associated with adopting and 

implementing these technologies. The upfront costs of 

investing in AI systems, software, and training for staff 

can be overwhelming, particularly for smaller enterprises 

working within budget constraints. The substantial 

financial commitment required for a successful 

integration of AI poses a hurdle for businesses looking to 

harness the benefits of AI. 

Another hurdle is the shortage of skilled professionals 

well-versed in AI. Businesses may struggle to find and 

afford experts who can develop, implement, and maintain 

AI solutions. This scarcity of expertise can impede the 

seamless integration of AI into their operations. 

As AI heavily relies on data, guaranteeing the 


Ai TODAY & TOMORROW 

time and resources, allowing teams to focus on more 

strategic initiatives. 

ES AND 

ITIES IN 

INESSES 

security and privacy of sensitive information poses a 

considerable challenge. Small businesses may lack the 

robust cybersecurity measures needed to safeguard 

against potential breaches, making them vulnerable 

to data-related risks. Resistance to change within the 

organisation is a common challenge when introducing AI. 

Employees may be apprehensive about adapting to new 

technologies, and management might face challenges in 

fostering a culture that embraces AI-driven processes. 

Small businesses aspiring to grow may encounter 

scalability issues with AI solutions. Some AI technologies 

may struggle to adapt or expand as business operations 

expand, leading to operational bottlenecks. 

While there are challenges with AI, businesses also have 

opportunities to benefit. One of the prime opportunities AI 

presents to businesses is the improvement of operational 

efficiency. Automating routine tasks can free up valuable 

AI also allows businesses to provide personalised 

experiences for their customers. By analysing customer 

data, businesses can tailor their services, improving 

customer satisfaction and loyalty. 

Embracing AI can give businesses a competitive edge 

in the market. Those who leverage AI effectively can 

stay ahead by offering innovative solutions, streamlined 

processes, and quicker responses to market changes. 

Businesses can leverage AI to adapt to changing market 

dynamics. 

Through predictive analytics, deploying chatbots, or 

leveraging other AI applications, businesses can maintain 

agility and responsiveness to ever-changing industry 

trends. Predictive analytics allows businesses to anticipate 

customer behaviours and market shifts, enabling 

proactive decision-making. 

Chatbots improve customer interactions by providing 

instant support, contributing to a positive customer 

experience. The diverse applications of AI empower 

businesses to adapt to emerging trends, fostering a 

competitive edge in dynamic markets. 

By embracing these technologies, businesses not only 

streamline their operations but also position themselves 

as innovative enterprises, capable of meeting the evolving 

demands of the modern business landscape. 

Amidst the incredible advancements in technology, there's 

a growing concern that recently came to light with a robot 

attack at Tesla. This event raises concerns about how 

we control and manage robots as they become more 

advanced. It makes us think about the uncertainties that 

come with relying entirely on AI. While robots are designed 

to make our lives easier, incidents like what happened at 

Tesla highlight the need for careful consideration and strict 

safety measures in the use of advanced technologies. 

ADEBAYO AFOLABI 


I am a passionate business writer with a 

knack for translating complex concepts into 

accessible content. With a keen eye for detail, 

I deliver compelling content that educates, 

inspires, and drives positive change in the 

realm of finance and business. 


| 55

LIFESTYLE 


ARTS & THE MASTERS 

•German 

Art Dealer, 

Johann König 

to Open New 

Berlin Gallery 

According to the Art 

Newspaper, German art dealer, 

Johann König, is set to launch a 

new gallery in Berlin. Positioned 

adjacent the Monbijou Park 

and Museum Island in the city, 

the new gallery is housed in 

a former telegraph office on 

Oranienburgerstrasse. 

This is König’s second Berlin 

location and among his first 

significant undertakings after 

he was accused of sexual 

misconduct in 2022. The 

allegations caused a great 

deal of damage, with the 

German publication Die Zeit 

being the first to report on 

them. As a result, the gallery 

lost several artists from its 

roster and was not invited to 

several prominent events. König 

disputes all of the since-started 

lawsuits seeking damages 

against Die Zeit. 

•Johann König 


LIFESTYLE 

• Rembrandt Painting Valued at $15,000 

Now Sold for Almost $14 Million 

Two years ago, a painting was estimated to 

be worth $15,000. In a shocking twist of events, 

the same painting was sold for nearly £11 

million ($13.8 million) at a Sotheby’s auction 

on Wednesday, December 6. This was after 

it was determined to be a piece by the 

renowned Dutch artist, Rembrandt. 

When “Adoration of the Kings” was first 

discovered in the 1950s, it had been 

essentially hidden. J.C.H. Heldring, a collector, 

purchased it in Amsterdam in 1955. In 1985, 

his widow sold it to a German family, where it 

stayed until two years ago, when Christie’s in 

Amsterdam sold it. 

At the time of the sale, Christie’s valued 

the biblical scene at between €10,000 

and €15,000 (roughly $10,600 to $15,900 

at the time), attributing it to the “Circle of 

Rembrandt” and implying that it was painted 

by a student or artist close to the well-known 

painter. 

DAMIAN 

IKENNA NGERE 


Ikenna is a graduate of Physics and Education, 

who works as a freelance writer. He has interest 

in technology, humanity and sports. 


| 57

ALTERNATIVE MEDICINE 

Oxygen 

Therapy, 

A Potent 

Anti-Cancer 

Treatment 

By Dr Joel Logbo 

Oxygen therapy is a term that 

refers to a number of different 

practices in which oxygen 

or ozone are administered 

for therapeutic purposes. 

While there are various forms 

of oxygen therapy, the one 

medical professionals often 

administer to patients is medical 

oxygenated water, which has 

yielded the most stunning effects 

in reversing a broad spectrum 

of diseases with the addition 

of some herbs or nutritional 

protocols as the case may be. 

Oxygen therapy is not new. The 

very first recorded case of its use 

as a medical remedy was in 1783 

by the French physician, Caillens, 

who treated a female patient 

with daily inhalations of oxygen 

and successfully cured her of 

phthisis (an archaic name for 

tuberculosis). The results of the 

therapy were published in the 

‘Gazette de Sante’. 

In 1820, practical observations on 

the use of oxygen in the cure of 

diseases were published by Dr. 

Daniel Hill, a surgeon who was 

one of the early advocates of 

oxygen therapy. Oxygen therapy 

was cited as being instrumental 

in successfully treating cases of: 

- Nervous debility 

- Epilepsy 

- HIV 



- Hydrocephalus 

- Scrophula etc. 

In 1857, The Lancet published an 

article by S.B. Birch, M.D. wherein 

it was suggested that a patient 

needs “more oxygen than he 

can possibly obtain under 

many circumstances and in 

many diseased states from the 

atmosphere around him.” He 

further wrote that oxygen may 

well be a powerful therapeutic 

agent, but at the time, the 

medical profession overlooked 

or ignored oxygen as medicine 

due to its high cost and nonavailability 

in large quantities. 

Throughout the rest of the 19th 

century, super-oxigenation 

and inhalation of oxygen gas 

were recognised as having 

therapeutic value, and as an 

effective remedy in disease 

treatment but was not used due 

to high costs. The 20th century 

ushered in the use of oxygen in 

medicine and surgery, as well as 

intravenous injections of oxygen 

and oral rhythmic insufflation of 

oxygen for therapeutic purposes. 

In 1915, a German doctor named 

Albert Wolff became the first 

doctor to use ozone to treat 

patients with skin diseases. In the 

1950s, several German doctors 

began using ozone (alongside 

mainstream therapeutic 

modalities) to treat cancer. 

In the same decade, hyperbaric 

oxygen therapy started 

becoming the focus of many 

clinical trials and was used by 

cancer researchers. This mode 

of oxygen therapy employed 

hyperbaric chambers, wherein 

the patient inhales 100% oxygen 

at pressures greater than normal 

atmospheric pressure. Since the 

1950s to the present, hyperbaric 

oxygen therapy has helped 

heal and restore function for 

people with various neurological 

disorders and injuries 

Based on several research and 

a lot of experiences over the 

years, we have developed a 

potent oxygen therapy for many 

diseases. It involves combination 

of vaporised water, vegetable 

juices and few herbs as the case 

may be. 

The following is a partial list of 


| 59


A highly 

oxygenated 

body is not 

only immune 

to disease, it 

also destroys 

diseases that 

already exist in 

the body. 

diseases our therapy can cure or 

treat significantly: 

- Alzheimer’s disease 

- Parkinson’s disease 

- HIV 

- Diabetes 

- Stroke 

- Multiple sclerosis 

- Lou Gehrig’s Disease (ALS) 

- Brain injury 

- Learning disabilities 

- Cerebral palsy (early stage) 

- Chronic fatigue syndrome 

- Autism 

- Anaemia 

- Cancer of all types 

- Prostate problems 

- Heart diseases 

- Liver diseases 

- Kidney diseases etc 

Why Does Oxygen 

Therapy Work So Well? 

Oxygen comprises 62% to 

71% of the human body, and 

is the body’s most abundant 

and essential element. Ninety 

(90%) per gcent of all our 

biological energy comes from 

oxygen. Furthermore, when 

you consider that diseasecausing 

microorganisms, 

viruses, bacteria and pathogens 

cannot survive in oxygen-rich 

environments, you begin to see 

why oxygen therapy is the most 

powerful weapon for fighting 

disease. 

A highly oxygenated body is not 

only immune to disease, it also 

destroys diseases that already 

exist in the body. However,if 

oxygen were, indeed, a cure-all, 

one might jump to the erroneous 

conclusion that ozone therapy 

and combination of some herbs 

is all one needs to create an 

oxygen-rich environment in the 

body. 

Even if our cities, towns and 

other residential areas had 

clean air with abundant 

amounts of oxygen (which they 

don’t because of air pollution), 

and even if human beings 

remembered to breathe deeply 

throughout the day (which they 

don’t), it still wouldn’t be possible 

to take in as much oxygen as 

our bodies need in order for 

healing to occur and health to 

be restored. 

It’s important to note that simply 

inhaling oxygen is not enough. 

Only 15% of the oxygen we inhale 

is absorbed into the blood 

stream. 

Oxygen must enter the blood, 

and the blood, in turn, needs to 

• Hand drawn 

oxygen tank 



deliver it to the cells and tissues 

of the body. This, then, would 

raise tissue oxygen levels, kill 

bacteria, viruses and defective 

tissue cells, enable healthy cells 

to survive and multiply more 

rapidly and ultimately create a 

stronger immune system. 

The bio-oxidative therapies we 

have developed for healing 

has the ability to stimulate the 

movement of oxygen atoms 

from the blood stream to the 

cells to a greater degree than is 

usually reached by other means. 

With higher levels of oxygen in 

the tissues, bacteria and viruses 

are killed along with 

defective tissue cells; normal 

cells survive and multiply more 

rapidly and the result is a 

healthier body. 

The basic length of treatment, in 

this wise, is one month At times, 

it might take longer, depending 

on the nature of the health 

challenge and severity. 

For clarification or more 

information, please, visit our 

website www.mahchealthcare. 

com. 

Hot line: 07030420960 

WhatsApp: 07030420960 

Recuperating patient... 

JOEL 

N. LOGBO 


Dr. Joel N. Logbo is a patientcentred 

Natural Medicine 

doctor with 12 solid years of 

industry experience in Lagos, 

Nigeria and Wales, Scotland. 

He is currently seeking more 

international collaborations 

to provide holistic, noninvasive 

medical care for 

patients and the public on 

health promotion. 

His unique approach 

that has led to admirable 

achievements include 

meeting with patients to 

assess their health and 

wellness, learn their health 

goals and create treatment 

plans. He also collaborates 

with various teams of 

medical professionals 

to provide first-line and 

supplemental medical 

treatments through a holistic, 

natural approach.He loves 

traveling, adventures, 

cooking and driving. 


| 61

EXECUTIVE HEALTH 

Top 5 

Virtual 

Fitness 

Programmes 

for Home 

Workouts 

By Tolulope Akinruli 

In recent years, virtual fitness programmes have gained immense 

popularity, especially in the wake of the global pandemic that forced 

many individuals to work from home. With the convenience of being 

able to work out from the comfort of your own home, virtual fitness 

programmes have become a go-to option for many. Whether you’re a 

fitness enthusiast looking to switch up your routine or a beginner seeking 

guidance, there are a plethora of virtual fitness programmes available to 

cater to your needs. 

Below is a short list 

of virtual fitness 

programmes to 

consider: 

1. Peloton: 

Peloton is a household 

name when it comes 

to virtual fitness 

programmes. Known 

for its high-energy work 

outs and impressive 

range of classes, 

Peloton offers live and 

on-demand work 

outs spanning from 

cycling and running 

to yoga and strength 

training. With topnotch 

instructors and a 

supportive community, 

Peloton provides a 

comprehensive fitness 

experience right in the 

comfort of your own 

home. 

2. Beachbody On 

Demand: 

Beachbody On 

Demand is another 

popular virtual fitness 

programme that offers 

a wide variety of work 

out programmes, 

including P90X, Insanity, 

and 21 Day Fix. With a 

diverse range of work 

outs and expert trainers, 


EXECUTIVE HEALTH 

Beachbody 

On Demand 

provides a wellrounded 

fitness 

experience for 

individuals of all fitness 

levels. 

3. Fiit: Fiit is a virtual 

fitness platform that 

offers a range of 

high-intensity work 

outs, yoga classes, 

and mindful sessions. 

With interactive 

features such as live 

leader boards and 

personalised training 

plans, Fiit allows users 

to track their own 

progress and stay 

motivated throughout 

their fitness journey. 

4. Les Mills On 

Demand: 

Les Mills On Demand 

brings the renowned 

Les Mills Group fitness 

classes straight to your 

living room. With a vast 

library of work outs 

including BodyPump, 

BodyCombat, and RPM, 

Les Mills On Demand 

offers a dynamic 

and engaging fitness 

experience for users 

looking to elevate their 

home work outs. 

5. Daily Burn: 

Daily Burn provides a 

diverse range of work 

outs, including 

dance, yoga, 

cardio, and 

strength training. 

With new work 

outs added 

daily and 

live work out 

sessions, Daily 

Burn offers 

a fun and 

ever-changing 

fitness experience for 

individuals seeking 

variety in their home 

workouts. 

Conclusion 

Virtual fitness 

programmes have 

revolutionised the 

way individuals 

approach their fitness 

routines, offering 

convenience, diversity, 

and motivation right 

at their fingertips. 

Whether you’re looking 

to break sweat with 

high-intensity work 

outs or unwind with 

yoga sessions, there’s 

a virtual fitness 

programme out there 

to cater to your needs. 

With the top 5 virtual 

fitness programmes 

mentioned here, you 

can embark on your 

fitness journey from 

the comfort of your 

own home, without 

compromising on 

quality or variety. So, 

why wait? Get ready 

to elevate your home 

work outs with these 

top virtual fitness 

programmes. 



My love to impact 

knowledge to the 

young and old led 

me to research and 

writing. Also, l have 

been business-oriented, 

right from childhood, 

which made me focus 

more on driving the 

business world and 

also to help people grow 

their business. As a 

writer, I aim to create an 

insightful image in the 

minds of every reader 

for maximum wealth 

and health. 


| 63

LIFESTYLE 

TOP 

5 

By 

Nutrition Options 

for Busy Executives 

Tolu Akinruli 

In today’s fast-paced business world, time is a precious commodity one 

cannot buy. The demands of work can often leave little time for proper 

nutrition. However, it’s important for professionals to prioritise their 

health and wellness, as good nutrition plays a key role in maintaining 

productivity and performance. With that in mind, we’ve compiled a list of 

the top 5 nutrition options for busy executives. 

In this era, that has become our new norm. We are obligated to do 

right by ourselves to extend our lives and protect ourselves and others 

by imbibing healthier options into our lifestyle choices. 


1 

Healthy meal prep services: 

For executives with hectic schedules who prefer 

to cook their own meals but lack the time for 

grocery shopping and planning menus, healthy 

meal prep services are a great option. These 

services provide pre-portioned ingredients 

and easy-to-follow recipes, allowing busy 

professionals to quickly prepare nutritious 

meals without the hassle of meal planning and 

shopping. 

2 

Protein shakes or meal 

replacement bars: 

When time is tight, protein shakes or meal 

replacement bars can be a quick and 

convenient way for busy executives to fuel 

their bodies with essential nutrients. These 

options are easily portable and can be 

consumed on-the-go, making them ideal 

for those who are constantly on the move. 

3 

Meal delivery services: 

These services provide ready-made 

meals that are tailored to individual 

dietary needs and delivered directly 

to the customer’s home or office. This 

eliminates the need for shopping 

and cooking, saving valuable time 

and ensuring that healthy, balanced 

meals are readily available. 

4 

Nutrient-dense snacks 

Busy executives often find 

themselves snacking on-thego, 

and it’s important to choose 

nutrient-dense options that 

provide sustained energy and 

focus. Nutrient-dense snacks 

such as mixed nuts, Greek yoghurt 

and hummus with veggies are 

convenient options that provide 

protein, healthy fats and fibre 

to keep energy levels stable 

throughout the day. 

In conclusion, with 

these top 5 nutrition 

options, busy 

executives can take 

control of their health 

and wellness, even in 

the midst of their very 

busy schedules. 

LIFESTYLE 

5 

Hydration 

Proper hydration is often 

over-looked but is crucial 

for maintaining energy 

levels and overall health. 

People in this category 

should prioritise drinking 

plenty of water throughout 

the day and consider 

adding electrolyte-rich 

drinks such as coconut 

water or sports drinks 

to replenish fluids and 

essential minerals lost 

through busy schedules 

and stress. 



My love to impact knowledge 

to the young and old led me to 

research and writing. Also, l 

have been business-oriented, 

right from childhood, which 

made me focus more on driving 

the business world and also to 

help people grow their business. 

As a writer, I aim to create an 

insightful image in the minds 

of every reader for maximum 

wealth and health. 


| 65

LIFESTYLE 

Fruit-Cake 

Recipe to 

Launch 

the New 

Year 

By Simnom Joshua 

The ingredients: 

- Plain flour: 1 1/2 cups 

- Sugar: 3/4 cups 

- Butter: one cup 

- Eggs: 4 medium-sized 

- Cinnamon: 1/2 teaspoon 

- Nutmeg: 1/4 teaspoon 

- Cardamom: 1/4 teaspoon 

- Clove: 1/4 teaspoon 

- Baking powder: one 

teaspoon 

- Baking soda: 1/2 teaspoon 

- Salt: 1/2 teaspoon 

- Caramel syrup: 3 teaspoons 

- Vanilla extract: one 

teaspoon 

- Orange zest: one 

- Orange juice: 2-3 teaspoons 

- Any nut of your choice: 1/2 

cup. 

Direction 

Before you start baking your 

fruit-cake, take all the dried 

are you thinking of a 

more delicious way to 

spark up your New Year 

celebration so your 

family and friends will 

be filled with joy and 

happiness? It’s my delight to share, 

with you, this rich, flavourful and moist 

fruit-cake recipe. You may not be 

a fan of fruit-cake but I assure you 

that this recipe has won its way to 

the hearts of many all over the world. 

This is because of its very soft and 

moist nature. This blend of dry fruits 

and nuts has become a most sort 

after delicious treat for families, funseekers, 

top executives and people 

seeking to eat something of quality 

in-between meals. 

Fruitcake is a dense and sweet dessert 

cake that is typically made with dried 

fruits, nuts, and spices. It is definitely 

a more ‘preferred’ cake, and is often 

associated with holiday celebrations, 

particularly Christmas and New Year 

– but it can be enjoyed year-round. 

I imagine that you are already 

salivating and can’t wait to try the 

delicious goodness of this fruit-cake. 

So, what are we waiting for? Let’s get 

into the process with these easy-toget 

but amazing ingredients. 


LIFESTYLE 

fruits and put them in a bowl. 

Add some rum to soak overnight 

at room temperature. Doing this 

step 24 hours before making the 

cake is the best. With time you will 

discover why. 

Now you are ready to make your 

fruit-cake. 

• Pre-heat your oven to 150° 

(300°). 

• Properly grease an 8-inch 

round pan with butter and 

line it with a double layer of 

parchment paper (for those of 

us that don’t have parchment 

paper, please, use flour to dust 

the pan after greasing with 

butter). 

• Sift the flour and all dry 

ingredients (spices, baking 

powder, baking soda, etc.) into 

a clean and dry bowl and set 

aside. 

• In another bowl, put the 

butter and sugar, mix until a 

creamy texture is achieved. 

(You can do that by using a 

mixer or a wooden spatula 

depending on what works for 

you or what is available). 

• Do the mixing for 10 minutes 

- if using a spatula or 3-4 

minutes when using a mixer on 

a medium speed. 

• Look out for when the 

mixture will get fluffy. 

Add your eggs one after the 

other as you mix to blend the 

ingredients. 

• Now, add the caramel syrup 

and vanilla extract and mix 

well. Il 

• In a separate bowl, mix the 

soaked fruits, orange zest, and 

nuts and set aside. 

• Fold in your sifted dry 

ingredients (flour, spices, 

baking powder, baking soda, 

etc.) into the wet ingredient 

mixture - alternating the fruits 

and nuts. 

• Lastly, add the orange juice 

and mix until all the ingredients 

are incorporated. 

• Pour the batter into the 

greased cake pan. Use a 

spatula to smoothen the top 

to have a levelled butter and a 

well-turned-out cake. 

• You can add topping glaze 

cherries and nuts. 

Bake for one and a half hours 

(90 minutes). Please, make 

sure you check on it after one 

hour of baking to see how the 

baking is going. 

To know if your cake is done or 

ready, use a clean skewer of knife 

to pass through the cake. If it 

comes out clean, viola! Your cake 

is ready. But, if otherwise, give it 

a few more minutes and check 

again. 

When you take the cake out of the 

oven, allow the cake to cool in the 

pan for about 10 minutes before 

you transfer it to the rack to cool 

completely. 

Oh yeah! Your fruit-cake is ready 

to be enjoyed with family and 

friends! 

Baking Tips: 

• Soaking the dried fruits 

overnight helps it to absorb 

the alcohol and plump up. 

• In case you don’t have time to 

make the cake, you can boil 

the dried fruits. This method 

allows the fruits to absorb the 

alcohol faster. 

• You can also make this cake 

without using alcohol. Simply 

substitute the alcohol with 

orange juice or cranberry juice 

to soak the fruits overnight. 

Ensure you do this overnight for 

better outcome. 

• Always plan ahead of 

time, making sure all your 

ingredients are available and 

processed. 

•Don’t cut your cake just after 

baking, it reduces the flavor. 

• It is always good to bake your 

cake a day or few days before 

use. It tastes better with time 

and it’s flavorful. 

• You can substitute white 

sugar to brown sugar then skip 

caramel. 

Nutritional Value of This Fruit- 

Cake: 

• Calories: 325 per serving 

• Carbohydrate: 65g 

• Protein: 3g 

• Fat: 10g 

Note: 

This is a go-to recipe for that soft 

and moist cake that will add value 

to your New Year celebration. You 

are in for a delicious delight! 

HAPPY NEW YEAR! 

SIMNOM 

JOSHUA 


Simnom Josephine Joshua began 

her journey as a chef with just 

loving to cook. She loves creating 

new recipes and gets satisfaction 

from making great meals. Though 

she has years of experience in 

broadcasting and marketing, both 

fields of endeavour don't give her 

the happiness she feels when 

people around 

her enjoy her dishes. 


| 67

LIFESTYLE 

Business 

Ideas that 

Enhance 

Employees’ 

Mental 

Well-being 

By Tolulope Akinruli 

a 

work environment 

that supports mental 

health not only 

fosters a positive 

and productive 

work place culture 

but also ensures the overall 

success and sustainability 

of the organisation. Workers 

encounter mental health issues 

like stress, depression, diminished 

motivation, anxiety, and frustration, 

citing reasons such as being 

overworked, receiving inadequate 

compensation, lacking job 

security and support, and having 

insufficient benefits. Nearly 40% 

of employees believe work has 

the most detrimental impact 

on their mental well-being, with 

financial concerns coming in 

second at 42%. Moreover, one in 

five employees feels that his or 

her employer isn’t taking sufficient 

measures to address their mental 

health needs. 

One effective business idea for 

promoting mental well-being is 

to establish employee assistance 

programmes (EAPs). EAPs are 

designed to provide employees 

with access to counselling 

services, financial planning, legal 

assistance, and other resources 

to help them cope with personal 

and professional challenges. 

By offering EAPs, companies 

demonstrate their commitment 

to supporting the mental health 

of their employees and create 

a supportive environment for 

employees to seek help when 

needed. 

Employers can implement 

policies that allow for flexible 

working hours, remote work 

options, and paid time off to 

encourage 

employees to 

prioritise selfcare 

and personal 

time. Additionally, 

companies can 

organise wellness 

programmes such as 

yoga classes, meditation 

sessions, and stress management 

workshops to promote a healthy 

lifestyle and reduce work place 

stress. 

Again, employers can foster 

a supportive and respectful 

work place by promoting open 

communication, recognising 

employee achievements, and 

Emp 

can im 

policies 

for flexib 

hours, re 

options 

time off to 

emplo 

prioritise 

and p 

ti 


LIFESTYLE 

loyers 

plement 

that allow 

le working 

mote work 

, and paid 

encourage 

yees to 

self-care 

ersonal 

me 

encouraging 

team work. 

When 

employers 

create a sense 

of belonging and 

community within 

the work place, 

employees feel valued 

and supported, leading to 

improved mental health and 

job satisfaction. 

Moreover, providing 

opportunities for professional 

development and growth can 

contribute to the mental wellbeing 

of employees. Offering 

training, mentorship programmes, 

and career advancement 

opportunities can empower 

employees and enhance their 

sense of purpose and fulfillment 

in their roles. When employees 

feel valued and invested, they are 

more likely to experience greater 

job satisfaction and overall wellbeing. 

In conclusion, prioritising the 

mental well-being of employees 

is not only a moral imperative but 

also a sound business strategy. 

By implementing these business 

ideas, companies can contribute 

to employees’ overall mental 

well-being, increased capability, 

productivity, and success. 



My love to impact knowledge 

to the young and old led me to 

research and writing. Also, l 

have been business-oriented, 

right from childhood, which 

made me focus more on driving 

the business world and also to 

help people grow their business. 

As a writer, I aim to create an 

insightful image in the minds 

of every reader for maximum 

wealth and health. 


| 69

Travel / Escape 

Montego Bay: 

A Melting Pot of 

Culture & Fun 

By Joy Agbakoba 

Jamaica’s third 

most populous 

city and definitely 

most popular is 

a melting pot of 

culture which 

is buzzing with 

locals, tourists and expatriates 

that have now made Montego 

Bay their home; booming with 

attractions and activities for 

every type of traveller. 

The tropical adventure of 

your dreams awaits you in 

Montego Bay. Whether you 

are looking to relax on perfect, 

white, sandy beaches with 

clear blue skies, be swept 

away by the rocking night life 

steps from your hotel, or enjoy 

thrilling experiences of lifetime 

memories, you’ll find it in the 

enchanting “Mobay.” 

It is a marvellous melting pot 

of cultures, buzzing with fun and 

activities. Enjoy the exuberant 

pubs and clubs, the wide array 

of eateries, the glistening 

beaches, the incredible 

artistry and craftsmanship of 

the people. There is diverse 

accommodation ranging from 

2 to 5 star all-inclusive resorts 

to boutique hotels. There is 

something to suit every budget. 



| 71


Montego 

Accommodation 

You’ll find an assortment 

of beach front properties, 

all-inclusive resorts that 

cater to both families 

and adults, villas for large 

groups, and apartments 

and boutique hotels for 

the astute traveller. 

Club Mobay: 

Sangster 

Airport VIP 

Lounge & 

Concierge 

Arrive and depart 

like a superstar. 

Avoid crowded 

terminals at 

the Sangster 

International 

Airport and enjoy 


Rasta Safari Experience 

Experience a warm welcome at a Rastafari village 

during this half-day tour of the Jamaican countryside. 

With a guided tour, you will learn about the local culture. 

Following pickup from hotels in Montego Bay, ride an 

all-terrain buggy and stop to swim in natural mineral 

pools. 

admission to 

the Club Mobay 

lounges during 

your arrival and/or 

departure. You will 

receive fast-track 

service through 

security, customs, 

and immigration, 

as well as snacks 

and beverages in 

the comfortable 

private lounges. 

Your vacation starts 

here... 

Rafting On Lethe River 

Go rafting down the Lethe River and get a foot 

massage with this tour from Montego Bay. Your 

driver will pick you up at your hotel or cruise port and 

take you to the river, where you will hop a-board 

a 30-foot-long bamboo raft captained by a local 

guide. You will learn all about the surrounding 

ecosystem as you float downstream, stopping for an 

exfoliating limestone foot massage along the way. 


| 73


Dunns River Falls 

Climb, Zipline, Horse 

Ride & Swim 

Experience a day of adventure 

with this combo tour, 

which includes an ATV ride, 

horseback riding, swimming, 

and a ride on a zipline. Visit 

Dunns River Falls, ride a horse 

into the Caribbean Sea, take 

a back road adventure on a 

quad bike, and go ziplining, 

with the option to grab lunch 

along the way. 

Jamaica’s Dunns River Falls Party 

Cruise & Snorkeling 

Live the good life on a party cruise 

to Dunn’s River Falls. Everything is 

included on a half-day catamaran 

adventure, from a delicious 

Jamaican buffet lunch and drinks at 

an open bar to hotel transfers and 

snorkel gear, so you can explore the 

colourful Caribbean Sea without any 

worries. The highlight is a guided trek 

through the tropical forest and a 

climb straight up the falls. 

For small, intimate groups, private 

parties can be organised on a 

private yacht if you want to live it up 

the Mobay Way. 

Another popular and cost-effective 

way of exploring Montego Bay is Bus 

City Tour which will take you through 

various attractions - from museums 

to crafts markets and food tasting. 


Activities in “Mobay” 

You will feel the Mobay Energy 

as soon as you disembark 

at Montego Bay Airport. The 

people are warm, friendly and 

welcoming. A classy hospitality 

comes naturally. 


JOY AGBAKOBA 

Airport Transfers 

Private Limo services are available as well as bus 

shuttle to your resort or hotel. This is best pre-booked to 

avoid a long wait for your ride. 


Joy Agbakoba is the Chief 

Executive Officer of Travellers 

Haven Limited and has built 

its solid reputation since 2003, 

providing travel consultancy 

services as well as organising 

cruises and private tours. She 

is also the Founder of Women’s 

Business Arena, a market 

place for creative female 

entrepreneurs. 


| 75




UBA PLC: 

INDEED, 

A SUB- 

SAHARAN 

GIANT 


United Bank for Africa (UBA) 

set out to be the undisputed 

leading and dominant 

financial services institution 

in Africa with Oliver Alawuba 

as its Group Managing 

Director. It pursues its 

vision by creating superior value for all 

its stakeholders, abiding by the utmost 

professional and ethical standards, and by 

building an enduring institution. 

With a history of over 7 decades - dating 

back to 1949 when the British and French 

Bank Limited (BFB) commenced business 

in Nigeria. BFB was a subsidiary of Banque 

Nationale de Crédit (BNCI), Paris, which 

transformed its London branch into a 

separate subsidiary called the British 

and French Bank, with shares held by 

Banque Nationale de Crédit and two 

British investment firms, S.G. Warburg 

and Company and Robert Benson and 

Company. 

UBA is one of the leading and most 

recognised banks to originate from 

sub-Saharan Africa. UBA has growing 


| 77


•Tony Elumelu 

•Oliver Alawuba 

operations in 20 African 

countries, the UK, USA, 

UAE and a representative 

office in France. For more 

than seven decades, the 

bank has been providing 

superior financial services 

to small businesses, 

corporations, governments, 

institutions and individuals 

globally. 

Africa’s Global Bank 

The bank which is 

headquartered in Lagos, 

Nigeria, is one of the most 

recognised financial 

institutions to originate 

from sub-Saharan Africa 

with thriving operations 

in 20 African countries 

– Republique du Benin, 

Burkina Faso, Cameroun, 

Congo Brazzaville, Congo 

DRC, Cote d’lvoire, Gabon, 

Ghana, Guinea, Kenya, 

Liberia, Mali, Mozambique, 

Nigeria, Senegal, Sierra 

Leone, Tanzania, Tchad, 

Uganda and Zambia. 

UBA also operates in the 

United Kingdom and 

France and is the only sub- 

Saharan African bank with 

a deposit taking license in 

the USA. The bank officially 

opened for business in 

Dubai, the United Arab 

Emirates in 2022. 

UBA provides corporate, 

commercial, SME, 

consumer and personal 

(retail) banking services 

to more than 27 million 

customers, served through 

diverse channels: over 

1,000 business offices and 

customer touch points with 

2,669 ATMs, 87,223 PoS, 

and robust online banking 

services. Additionally, UBA 

offers pension custody and 

related services. 

The bank has proven 

expertise and capacity in 

key sectors of economies 

across Africa, especially in 

oil and gas, infrastructure 

finance, agric, and 



commodity export. This 

positions the bank as 

a preferred partner for 

structured solutions to 

key governments and 

corporates operating in/ 

into Africa. 

Strategic Intent 

UBA’s primary strategy is 

to focus on the customer 

and this informs it’s 

Customer First (C1st) 

philosophy which ensures 

that it always puts its 

customers first. The bank 

achieves this through the 

deployment of three key 

levers – People, Process 

and Technology – to give 

its customers the best 

offerings and services. The 

bank’s business strategy 

is built on being the bank 

of choice for individuals 

and businesses across the 

African continent and for 

those who are wishing to 

do business in Africa. 

UBA emphasises the 

core values of Enterprise, 

Execution and Excellence 

and aims to be the leading 

financial services institution 

as well as the undisputed 

sustainable financial 

institution in Africa. 

The bank’s strategic 

goal is to be a dominant 

leader in all the markets 

and geographies where 

it operates; to be the 

payment rail for funds and 

trade flows into and out of 

Africa and to be present in 

key global financial centres 

to foster our Africa reach. 

Strength, Large 

Balance Sheet Size 

and Strong Liquidity 

The bank has created a 

corporate culture founded 

upon strong organisational 

values and performancedriven 

operating standards. 

These enable it to play 

at the top end of all the 

markets we operate in. Its 

balance sheet size means 

that it’s the bank to go to 

for big-ticket transactions 

across Africa. UBA’s 

capacity in this regard is 

shown in the many bigticket 

transactions it has 

engaged in, either as a 

stand-alone financier 

or as a lead arranger in 

syndication deals. The 

bank has consistently 

played leading roles in 

arranging finance for 

critical sectors of the 

African economy, in the 

areas of oil and gas, power, 

telecommunications, 

and agriculture, amongst 

others. 

Strong Risk 

Management 

The extensive nature of the 

bank’s operations means 

that UBA adheres strictly to 

the best risk management 

practices. UBA currently 

has one of the lowest NPLs 

in the banking industry, a 

testimony to the bank’s 

rigorous credit risk 

management process. The 

bank has in place a strong 

enterprise management 

process that ensures that 

all risks are adequately 

covered in the bank’s 

operations. 

Strong Corporate 

Social Responsibility 

The bank is actively 

involved in community 

renewal and sustenance. 

UBA remains the only 

bank in Nigeria with a 

purpose-built foundation 

with a clear mandate for 

social intervention in the 

communities and countries 

in which the bank operates. 

The UBA Foundation is 

funded with one percent 

of the bank’s profit after 

tax. The Foundation’s 

interventions are in the 

need areas of education, 

health, human capital 

development and special 

projects. 

DIIYI 

WILLIAM-WEST 





magazines, newspapers, 

television and radio; laying 

emphasis on maintaining 

standards in media practice. He 

practised and lectured Public 

Relations for nearly a decade 

before going into leadership 

consulting and real estate 

consultancy. 


| 79

Accomplish Magazine January 2024

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