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Keshi’s labour of love for Togo

Keshi’s labour of love for Togo

As captain of the Super Eagles, Stephen Keshi was known as the ‘Big Boss’ for his no-nosense style on and off the pitch.

Years later when he became coach of the Hawks, Togo’s national football team, he retained something of that attitude, a fact that helped him qualify the West African country for its first ever World cup in 2006.

He failed, however, to lead the squad to the World Cup after falling out with officials of the Togolese Football Federation (TFF).

One year later, in February 2007, the TFF re-engaged Keshi for a friendly against Cameroon, but the questions concerning his dismissal continued to linger. The rumours at that time were that he (Keshi) wanted to manage the career of Nigerian-born Togolese star, Emmanuel Adebayor but because the former Arsenal player did not agree to the proposal, Keshi dropped him to the bench.

His second stint with the Togolese squad proved to be short-lived with the former Nigerian international showing up in Mali to lead the country to the 2010 Africa Cup of Nations in Angola.

Keshi, who was laid off by Mali after the 2010 Nations Cup in Angola, also lost out to Samson Siasia, in the race to become the coach of the Super Eagles in November.

Third missionary journey

After losing out to Siasia, Keshi weighed his options and last Tuesday, March 22, he made a dramatic return to the job he had handled and lost twice. TFF President, Gabriel Ameyi called a press conference in Lome to reveal that a temporary arrangement had been reached with Keshi to lead the team once again.

He has assigned him the job of leading the Hawks to Blantyre for yesterday’s 2012 African Cup of Nations Cup qualifier against Malawi.

So what is different now?

Keshi is now back in his third stint as Togo coach. He has successfully weathered the storms of the accusations about his wanting to manage Adebayor. With the passage of time, the world has come to know that Adebayor is not an easy player to manage as he has shown first at Arsenal and then at Manchester City.

Whether his erratic behaviour will be curbed by the ‘Special One’, Jose Mourinho, at Real Madrid remains to be seen.

Keshi was welcomed heartily by Togolese football fans at the team’s first training session on Tuesday where he smiled and waved to fans who had come to watch the exercise.

But there could be a cog in the wheel with the naming of Emmanuel Adebayor in the list of 22 players; the former African Player of the year striker had ostensibly retired from the national team last year after the Togolese bus was attacked in Cabinda, shortly before the Nations Cup in Angola leading to the death of three persons.

Instability in Togo football

Togo’s football administration is one that can be said to be worse than their neighbour’s, Nigeria’s. The tiny West African country has a penchant for hiring and firing coaches and the football community surely must be wondering why Keshi returned after previous emabarrassments.

Since February 2009, Togo has had four coaches- Otto Pfister, hired after Keshi’s sack also quit the team over player bonuses before a ball had been kicked in Germany in 2006 but returned to the team for the opening 1-2 loss to South Korea.

Frenchman Patrice Neveu was expected to replace German Otto Pfister as the coach of the Hawks last month but his appointment was blocked by the government. Neveu was appointed by Gnassingbe Eyadema but when the son of the former Togolese president was voted out of office, Tata Avlessi, the TFF President became reluctant to endorse an appointment packaged by the previous regime. Thierry Froger resigned to take charge of French side Nimes earlier this month.

The national team players have also staged protests at various times over the World Cup bonuses of about $200,000 each, with additional payments.

The future of Keshi and Togo interwoven

As a football player, Keshi achieved many feats – the first Nigerian player to play in the Belgian league and ensured that the lexicon; foreign-based became entrenched in football journalism in the country. He has also become the first Nigerian coach to manage the affairs of three national teams – Nigeria, as assistant to Shuaibu Amodu, as coach of Togo and then Mali. Now, he has thrust himself back into the limelight perhaps to prove naysayers wrong.

If he can lift the Hawks to the heights of 2005 and 2006, then maybe Keshi will have proven beyond any doubt that he has the capability to coach at the highest level.

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Youngsters gunning for glory

Youngsters gunning for glory

When the junior tennis national team boards the plane to Botswana tomorrow, they will be going to the Southern African country to once again prove to the rest of Africa that Nigeria is rising again in the game.

Twenty years ago, Nigeria sat comfortably at the pinnacle of tennis on the continent but things went awry.

Now it seems that the ‘giant’ of Africa is rising again to take up her position as the leader in the sport. The team of six players and two coaches has four male and two female players who have vowed that they will be giving an early Easter present to Nigerians.

Sarah Adegoke, who will play in the 14 and under category said at their practice venue in Lagos on Thursday that:

“We have to make sure that we come out tops in Botswana; we are definitely going to surprise a lot of people.

The Ibadan-based player also added that the tours of Ghana and Togo have prepared her for the trip to Botswana.

“In Ghana, we showed the stuff we were made of but now even though the games will be harder and tougher, we are prepared for the challenges ahead.” She also spoke on her West African nemesis, Ghanaian, Elizabeth Archimpong, who defeated her in the finals of the Ghana competition.

“I do not know what happens to me when I meet Elizabeth – it just seems that I forget my game and get all jittery and nervous and that was what happened in Winneba.”

This view was corroborated by her coach, Mohammed Ubale, who said he has been working on mental toughness for his young players.

“We have had times in the past when the players have frozen on the big stage but that has to do with tour experience and the team has some tours under their belt now. Going for more competitions is the only way to prepare these kids – there is no other way.”

The team, after their triumph in Ghana had gone on a two-week programme to Togo where the Nigerian team also came out tops, a development that helped this team prepare very well for their Botswana expedition.

Tough task

Bulus Husseini, a former national player who has had coaching stints in the United States of America said the coach has a lot of work to prepare the team for the task ahead. He says the South Africans and the North Africans always have a mental toughness about them that the Nigerians must copy:

“The coach should work on the players’ fitness, skills, tactical awareness, perseverance, mental toughness and psychological fitness” and he also added that “the Nigeria Tennis Federation (NTF) needs to work much harder by introducing a lot of junior tournaments” like the NNPC/Chevron Junior Masters tournament which ends today (Sunday) which at the moment are almost non-existent, Husseini said.

He continued: “The NTF should have regular meetings and many junior and senior tournaments should be introduced to offer the players much exposure. Presently we have about four senior and one junior functional tournaments in our yearly calendar; these are grossly inadequate compared to the situation three decades ago”, Husseini said.

After the championship

Most of the players that will be representing the country have had their future brightened by plans designed to help achieve the goal of producing tennis players who will improve to later on play on the ATP and WTA circuits.

Samuel Omoile, who is one of the players representing the country in Botswana, is on his way to the famed Sanchez Vicario tennis academy in Barcelona, on account of the NNPC/Chevron initiative. He has been admitted for a three-year programme and that will culminate with him turning pro in 2014.

“I have to make sure that this opportunity does not pass me by. I want to be one of the best players in the world like Roger Federer,” Omoile said.

For him to get that dream on the road, he must first beat the best juniors that other African countries have to offer and that quest will start on Tuesday in Gaborone.

The Nigerian team was camped in Lagos and the male players used the 12th NNPC/Chevron tournament to prepare adequately for Botswana. The two girls – Sarah Adegoke and Afolarin Akosile trained with their male counterparts for the one week that they were in Lagos. The team is billed to depart for Gaborone, Botswana by 11pm, Sunday night aboard South Africa Airways.

The tournament had to be moved to Botswana from Egypt where it was originally slated on account of the political upheaval that swept the country in February. The competition will end on April 8, 2011.

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RED CARD: Time to clean up our act

RED CARD: Time to clean up our act

In the course of discharging my duties as a sports journalist, I have come across people who have bluntly accused sports journalists of being responsible for the rot in the Nigerian sports sector.

I have often defended my colleagues and I, arguing that the charge is akin to holding political reporters responsible for bad leadership in the country.

After careful review of the situation, I have come to the inescapable conclusion that we are more than culpable. As journalists we are expected not only to faithfully report on society but to go a step further to hold those who activities we reflect in our media and whose activities impinge one way or another on the health of society, accountable.

That is where we have been remiss as sports journalists. That the different sports in Nigeria particularly key ones like football, boxing, athletics and basketball, which in decades past thrust Nigeria into global limelight, have atrophied right before our eyes makes us as guilty as the sports administrators who have through acts of omission or commission, run them down.

As watchdogs, we have not asked the hard questions but have preferred to cuddle the army of misfits and charlatans who have superintended our sports. We accept at face value the lies and half-truths peddled by these administrators instead of digging deep to unearth the truth.

It is for this reason that we find individuals not particularly distinguished either by sharp intellect or sound moral judgment building empires and carving out fiefdoms while the sports entrusted to them decays.

How else do we explain the matter of Habu Gumel and volleyball? How do you explain the fact that the man has spent the whole of eighteen years as President of the Nigerian Volleyball Federation and in the intervening period has been a member of the International Volleyball federation and the sport is dead in this country?

The only plausible explanation is because as journalists, we let him get away with it. Have we engaged him enough to tell Nigerians while he should continue in that position when his nearly two decades tour of duty has not been meaningful? Eighteen years in the life of an individual is a long time, long enough for him to record ground-breaking achievements. If there had been a modicum of seriousness on the part of Gumel, would Nigerian volleyball not have appropriated a spot in the commanding heights of the sport globally?

Anyway, this piece is not about Gumel.

It is about how we can pull sports writing from the mud into which our indifference and sometimes criminality, plunges it daily.

Re-inventing ourselves

We have come to the point where we must look ourselves in the eye and tell ourselves the truth and that truth as we are wont to say here in Nigeria is bitter. And it is that sports journalism is going to the dogs; it is getting alarmingly pedestrian with a new generation of practitioners who have neither the inclination nor the competence to faithfully discharge their duties. The situation in our profession has become like the situation in the banking industry where economic recession forced jobless graduates to seek to become bankers with a good many of them managing to squeeze themselves into banks and ultimately helping in the collapse of some of them.

While it is evident that there is still a crop of decent and professionally minded sports writers who are still able to challenge the rabid status quo with a view to bringing about a change in the way sports is run in this country, we have in the main, mercenaries and journeymen whose stock-in-trade is to massage the bloated egos of our for the most part, vacuous and mercantilist sports administrators. Given this, it is not surprising to see the clear lack of will on the part of most of us to see for instance, the crisis in Nigerian football come to an end.

While a good many of us like to reminisce about the good old days of Sunday Dankaro, Mahmoud Kadiri and Patrick Okpomo in football administration for instance, few are willing to exert the mental energy required to make the present superintendents of Nigerian football administer the game like these gentlemen mentioned, failing which we make things unbearable for them.

Looking at the profession today, it is hard to imagine that it produced brilliant minds like Fabio Olanipekun, Walter Oyatogun, Yinka Craig, Sunny Ojeagbase, Frank Ilaboya, Tayo Balogun, Chris Eseka, Robert Ndabai, Mitchell Obi,

Ejiro Omonode, Kunle Solaja, Ikeddy Isiguzo, Patrick Odili, Segun Adenuga to name a few of them.

We desperately need to do some soul searching; we need to re-invent ourselves for it is only by doing so that we can put ourselves in the position to help lift Nigerian sports from the morass into which greed and incompetence has plunged it by pointing the way forward through informed objective commentaries and analysis. To do otherwise would be to sentence sports to certain death.

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From rookies to Champions

From rookies to Champions

A year ago, girls at Ajigbeda Girls Secondary School in Lagos State knew next to nothing about the game of basketball and getting a chance to represent the state at a national championship was the last thing on their minds.

All that has changed.

Ajigbeda Girls Secondary School won the recently held finals of the Milo Basketball Championships for Lagos State and thus secured the ticket to represent the state at the next stage of the tourney, which is the Western Conference scheduled to come up in June at Ibadan.

For the young girls who say they are ready to fly the state’s flag high at the basketball event, it is all thanks to the Hope4Girls foundation.

“I feel very happy and grateful to the coaches and Hope 4Girls for all their support” a member of the team disclosed.

Akiode’s project

A brain child of former Nigerian basketball player, Mobolaji Akiode, ‘Hope 4 Girls’ is dedicated to the increased participation and empowerment of disadvantaged young African women in sports and education. Because of the initiative and the desire to help the coming generation of women, Akiode said she quit her accounting job at American Cable sports company, ESPN and returned to Nigeria to set up the basketball camp to help young girls in the country. She had been a member of the 2004 Nigerian Olympic basketball team.

“This is such a great achievement mainly because a year ago this school didn’t even have a basketball team and with just a little support from us the girls really showed how much they love basketball and hope4girls!,” Akiode said.

The former WNBA star added:

“Although we would have had more schools enter, our academy currently works with eight schools. It’s just unfortunate those games masters are not as dedicated as we are and are holding the girls back. My motto has always been giving these children an opportunity to explore their creativity and you will see greatness in them.

“As for me I’m just so proud of them and their hard work, they make me feel like I should do more and support more. To me they are champions and anything that happens in the regional is icing on the cake,” she added.

Making a champion

Iyabo Yusuf, lead camp administrator of the foundation further explained the journey at making the new champions.

“Hope4girls introduced basketball to eight girls secondary schools in District IV of Lagos State Educational Board in March 2010 during the Princess Classic Camp and Ajigbeda Girls Secondary School happens to be one of the schools,” she said.

“The students of these said schools have never played basketball before, and after the camp, about 200 girls were enrolled into the Princess Academy from the eight schools”.

As part of Hope4Girls’ plan to empower young Nigerian girls through sports and education, the organisation reduced the 200 girls to 60 girls using their academic performances and commitment to the game as part of the criteria for the screening. Sixteen girls from Ajigbeda Girls Secondary School scaled the screening and their performance in the Hope4Girls academy has been remarkable.

Other schools in the academy include; Ideal, New Era, Wesley, Gbaja, Itolo, Clegg and Surulere Girls Secondary Schools.

Iyabo noted that emerging as champions wasn’t a stroll in pack the Ajigbeda Girls.

“The challenges were posed mostly (by the) District VI representative, which is Ilupeju Grammar school; this school has been representing Lagos State in the Western Conference for the last three years with a bunch of experienced players compared to the girls that started the game a year ago. But with the help of God and hard work of our coaches, we were able to defeat Ilupeju in the final 15-10 points”.

Looking ahead

Already looking ahead, Iyabo said the new goal is making it to the next stage of the championship, which is the Western Conference scheduled to come up in June at Ibadan, Oyo State.

“We are in the same zone with Delta, Oyo, Ogun, Ondo, Ekiti, Kogi and Osun States.

Looking at the vast experience of Oyo and Delta in the game, we are working out a strategy on how to pick a ticket to the national level of the championship,” she said.

For Iyabo, the outstanding player is the captain of the team, Saidat Ali, 14, of Senior Secondary (SS)2. She led the team to victory with her last minute 3 pointer.

Aside the latest feat by the foundation the body had last year also helped two girls secure scholarships to study in the United States amongst other projects it is presently executing.

At the moment, Akiode, is he reliving her experiences as a blogger with ESPN where she talks about experiences like the one she is currently having at the National Youth Service Camp in Abuja.

“I created Hope4Girls to try to better the lives of underprivileged girls. The game of basketball was great to me, and I want to share with others the opportunities it gave me. Of course, I’m not the first athlete to try to inspire others. [But] I want Hope4Girls to have the same impact as many other conscientious charities by athletes, which tackle poor education, address social inequalities and inspire youth.

“Trying to run H4G hasn’t been easy. If you think getting support for girls’ sports is difficult in America, you can’t even imagine the bigger obstacles in trying it in Nigeria. But as the great Muhammad Ali would say, “Impossible is nothing!”

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Eagles in win or bust tie with Ethiopia

Eagles in win or bust tie with Ethiopia

The Super Eagles will tackle the Ethiopian national football team – the Walya Antelopes, in a 2012 Africa Cup of Nations qualifier inside the main bowl of the National Stadium in Abuja with only one thought on their mind – victory!

In what will be Samson Siasia’s first official match, not just a victory will do for his boys tonight against the East Africans, they need to secure a wide-margin victory in order to reduce the advantage currently held by Group B leaders, Guinea, who currently have six points, three points ahead of the Super Eagles.

The Guineans also enjoy a comfortable plus-four goals difference over the Eagles, who only have plus-one following the 1-0 loss they suffered at the hands of the Guineans back in October last year.

Guinea will also be in action today against Madagascar in Antananarivo but if the poor run of form of the Madagascans since the start of the qualifiers is anything to go by, then the Guineans should emerge from this game with at least a point.

A win is equally possible for the Guineans; after all, they will be taking on a Madagascan side that has lost all their Group B matches to date, including a 1-0 loss to Ethiopia last October in Antananarivo.

But a lot has happened to the islanders since suffering back to back losses to Nigeria (2-0) and Ethiopia as there has been a change in coaching personnel with Frenchman Jean-Paul Rabier making way for local coach Maurice Mosa who will also make his competitive debut today.

That will be the scenario today for the Eagles as they seek to win and win-over the fans.

Siasia though has another agenda – the coach will seek to prove that the people’s mandate was not mis-placed.

Arguably one of the best Nigerian coaches of his generation, Siasia has the arduous task of changing the fortunes of a side that has become a shadow of its once illustrious past for the better; the Super Eagles no longer commands the respect of other teams on the African continent and in the world.

Intense pressure

The match takes on added significance considering the fact that only one team from Group B is guaranteed automatic qualification to next year’s Africa Cup of Nations to be co-hosted by Equatorial Guinea and Gabon. And with three rounds of matches to go after tonight’s game, Siasia is no doubt under immense pressure to grab a win over the Ethiopians.

“The man must know that he has to win. I’m sure he sees the log and knows that Guinea is ahead of us,” said Ademola Olajire, the media officer of the Nigeria Football Federation. “I’m sure he knows that if we do not win this match we may not play at the Africa Cup of Nations next year.

“I’m also sure as he lives his life daily; he meets people and gets phone calls from friends to want him to know what is at stake. All that can put pressure on a person so I know he is under some pressure but it is not coming from us.”

The history between both sides backs the Super Eagles to emerge victorious at the end of tonight’s game as they have only lost once to the East Africans in four previous meetings.

That loss (1-0) came in 1993 in Addis Ababa but the Super Eagles retaliated in grand style by securing an overwhelming 6-0 victory over the Ethiopians in Lagos to qualify for the 1994 Africa Cup of Nations in Tunisia.

The Super Eagles went on to win the Tunisia ‘94 Africa Cup of Nations with Siasia playing an integral role in that side’s all-conquering route to the cup.

Siasia said he dreams of becoming the first Nigerian coach to lead the Super Eagles to an Africa Nations Cup title but readily admitted that he will first need to secure qualification ahead of the Guineans beginning with victory in tonight’s tie against the Walya Antelopes.

“We have to first secure qualification before we can start thinking of winning the trophy,” he said. “And to be sure of that we have to win all our games starting with this one. Everyone in the team is aware of that (and) will be doing their best to make it come to pass.”

Siasia will, however, have to make-do without the services of the duo of Osaze Odemwingie and Obafemi Martins who are currently nursing injuries.

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Finance group to invest N112.5b in Union Bank

Finance group to invest N112.5b in Union Bank

Union Bank has signed a memorandum of Agreement (MOA) with the African Capital Alliance Consortium (ACA Consortium ) to invest N112.5 billion ($750 million) in the bank. This is sequel to the earlier announcement that the bank had entered into negotiation with a core investor.

A release from the bank signed by its spokesperson, Francis Barde, added that the MOA will in the main, provide a framework for the process by which the bank will be recapitalised.

“However, the entire process will be subject to the approval of the bank’s shareholders, the Central Bank of Nigeria (CBN), the Securities and Exchange Commission, the Nigerian Stock Exchange, and the Federal High Court,” Mr. Barde further said.

The ACA Consortium is a group of institutional investors led by African Capital Alliance (ACA), a leading independent private equity firm investing in West Africa, principally in Nigeria and Gulf of Guinea.

The ACA Consortium was founded in 1997 with a mission to build Africa’s premier private equity investment firm by mobilising capital, technology, and management resources from local and international sources to unlock Africa’s private sector potential.

The ACA Consortium, which will invest as Union Global Partners Limited, consists of ACA B-Holding Limited, (comprising an ACA managed fund, FMO Netherlands, an international development financial institution, and other co-investors), TRG Management LLP, The Keffi GroupVIII LLC (comprising the Keffi group and other United States-based institutional investors), ABC Holdings Limited (Bank of Botswana) and the Discovery Group.

Status enhancement

The bank said its recapitalisation by the ACA Consortium will enhance its liquidity, corporate governance, and capital adequacy and restore its strong competitive position.

Union Bank is among the banks rescued in 2009 by the CBN, and the chief executive officers sacked. The regulator then injected about N120 billion to save the bank from imminent collapse.

At a meeting held with shareholders in October, the various interest groups in Union Bank agreed that the management should pursue its recapitalisation plans in order to restore the bank to its prime position in the Nigerian banking industry. They agreed that the new core investor should have been in existence for years, with known financial pedigree and global clout that will give the bank leverage in the industry.

“The forum also suggested that the board and management should involve credible shareholders with substantial holdings to be part of the engagement processes with interested investors,” according to a statement signed by Mr. Barde.

This capital injection is so far the most outstanding progress in the effort of the Central Bank of Nigeria to get new core investors for the rescued banks.

Apart from Afribank, which announced the signing of memorandum of understanding (MoU) recently, none of the five other rescued banks have disclosed progress in its agreement with new core investors.

The other banks namely Oceanic Bank, Intercontinental Bank, Bank PHB, Spring Bank, Finbank, Equitorial Trust Bank are yet to announce appreciable success.

Aggrieved shareholders of Bank PHB last week secured a court injunction against the planned sale of the bank to Habib Bank of Pakistan.

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FINANCIAL MATTERS: Inflation, what do the numbers mean?

FINANCIAL MATTERS: Inflation, what do the numbers mean?

The inflation
numbers for February are in, and they do surprise. Prices, it seems,
are not growing as fast as they did two months ago. According to the
new numbers, consumer prices in the country rose by 11.1% in the year
to February, down from 12.1% in the year to January. Why? The most
basic problem with inflation statistics in the country is its failure
to tell a coherent story.

Before the 12.1% in
January, the Composite Consumer Price Index (CPI) was 11.8% in
December, and 12.8% in November. Try as hard as you may, it is well
nigh impossible to make sense of these movements, still less predict,
on this basis, the inflation trajectory over three months.

In an election
year, there were reasons galore to imagine that government spending was
going to be a major source of pressure on domestic prices. Pork-barrel
politics is almost unavoidable in a democracy as young as ours, and
with its lack of proper political party/electorate connections. The
structure of government spending is an additional consideration. For a
while now, the bulk of it has been on consumption.

So, if government
was going to spend more in an election year, invariably it was going to
do this at a time when its failure to spend money to improvie domestic
productive capacity has limited supply responses across every sector of
the economy. Moreover, did it matter for relative prices in the local
economy that this is a government that has, since coming into office,
made a poor fist of staying within its spending commitments? Maybe!

The new inflation
numbers upend this logic. Strange though this is, it would seem that
government has not spent as much as most commentators had anticipated.
That somehow, its spending has been sufficiently sterilised.
Alternatively, that because domestic prices have become insulated from
government over-spend, and with both consumer spending and business
investment in the doldrums, inflation is well contained.

There is a
different possibility. Monetary policy may just be working a lot better
than we give the process credit for. Beginning at its September 2010
meeting, the Central Bank of Nigeria’s rate setting committee (the
Monetary Policy Committee – MPC) signalled a lower appetite for
inflation when it added 25 basis points to the policy rate to move it
from 6.0% to 6.25%.

This concern with
“continued high inflation rate” was re-visited at the MPC’s November
meeting, where, even though it agreed to keep the policy rate unchanged
at 6.25%, it included “fiscal consolidation and the continuation of
comprehensive economic and structural reforms to remove supply-side
bottlenecks,” as necessary conditions to relieve the build-up of
pressure on domestic prices. January this year, MPC members voted 11 to
1 to put up the policy rate by another 25 basis points. “Perceived
inflation risks in the near term” was again the main worry of the
monetary tightening process.

Giving this effort,
what chance is there that the CBN’s signals may have worked to moderate
the adverse effects of fiscal excesses on domestic prices?

The apex bank
itself will not pretend that it has a firm enough grip on the
relationship between its base rates and domestic prices, that it then
takes comfort from any of this. The best that can still be said is that
by tinkering with its policy rate, the CBN can nudge interbank rates
along certain tracks for some distance.

But by how much it
can do this is still moot. Anyway, the CBN’s efforts cannot matter that
much, given that the industry through which its rate increases ought to
affect domestic prices, has very tenuous linkages with the real economy.

That said, there
are still questions arising from the inflation numbers. The National
Bureau of Statistics indicates that “Average monthly food prices rose
by 2.9% in February 2011 when compared with January 2011 figure. The
level of the Composite Food Index was higher than the corresponding
level a year ago by 12.2%. The average annual rate of rise of the index
was 13.9% for the twelve-month period ending February 2011”.

Thus, prices did
come under pressure, and significantly too. What the new numbers allude
to is that compared with the figure for the corresponding period last
year, domestic prices have not risen as fast.

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PERSONAL FINANCE: International Women’s Day and the Proverbs 31 Woman

PERSONAL FINANCE: International Women’s Day and the Proverbs 31 Woman

On March 8, 2011,
several events took place all over the world to mark the centenary of
International Women’s Day. Nigeria was no different and several
workshops, seminars and conferences celebrated the economic, political
and social achievements of women.

Traditional gender
roles historically presented household income from a perspective where
women were expected to stay at home and look after children. The
economic reality today is that to lead even the most modest existence,
more often than not, requires a two-income family. Most families have
to rely on incomes from both partners in order to meet family goals of
educating children, living in a decent home and planning for retirement.

Barack Obama, on
October 5, 2010, addressed the 2010 Fortune Most Powerful Women Summit
in Washington, D.C. where he honoured accomplished women from around
the world. He stated that women make up half of America’s workforce and
are primary or co-breadwinners in two-thirds of American families.

Women all over the
world are earning more than ever before, and many are contributing a
significant part of the household income, sometimes even assuming the
role of primary breadwinner. This social phenomenon is bringing about
profound changes and has financial, emotional and psychological
implications for both men and women particularly in a patriarchal
society such as ours with its traditional views of gender roles. Any
role reversal can be destabilizing, and this trend can lead to
frustration or resentment as an increasing financial burden is placed
on women on the one hand and potentially bruised male egos on the other.

Generations of
women have held the Proverbs 31 woman as their role model. Even though
she existed thousands of years ago, her approach to life and her
finances, is more relevant than ever for the 21st Century woman.
Proverbs 31 forms a veritable guide to all women of what we can aspire
to and with wisdom, determination and focus, today’s woman is capable
of making a success of both her home and her work. Here are some
practical financial lessons from her that we can imbibe in our own
lives.

She is frugal

“She is like the
merchant ships, bringing her food from afar.” She is prudent about her
shopping and is quality conscious. She will go some distance to ensure
that she gets value for money. We too can be frugal in our shopping,
and avoid impulse buying.

She invests wisely

“She considers a
field and buys it; from her earnings she plants a vineyard”. Apart from
working to earn a living, she invests carefully. She not only plans for
the short term but understands and seeks the benefits of long term
investments and income and contributes to the financial well-being of
her household. She is reliable and dependable and her husband trusts
her and has full confidence in her ability to make the right day-to-day
decisions and administer the family assets efficiently.

She plans ahead and is organised

“When it snows, she
has no fear for her household; for all of them are clothed in scarlet.”
She is an organised and energetic woman who manages her time
efficiently; she accomplishes more by starting her day early and
carries out her responsibilities with diligence and good cheer.

She is an entrepreneur

“She makes linen
garments and sells them, and supplies the merchants with sashes.” “She
sees that her trading is profitable, and her lamp does not go out at
night.” This woman runs a business from her home and has the business
acumen to be a successful trader in the marketplace. Her effort and
industry supplement the family income.

She is talented and industrious

“She stretches out
her hands to the distaff, and her hands grasp the spindle” She uses her
creative talents to earn additional income to support her family. She
is a wonderful example of diligence and industry. With a little
imagination and determination you can put your talent to good use. You
may be a great cook, have a special voice, or be a gifted tailor. How
can you develop these skills through diligent application to the point
where they can increase your income?

She is generous

“She extends her
hand to the poor, and stretches out her hands to the needy.” She is
generous; not only did she care for her family and her domestic staff,
but she also gave back to society and cared for the poor and needy.

She keeps fit and strong

“She girds herself
with strength and makes her arms strong”. We get the impression of a
woman who kept herself physically and mentally fit and well, through
exercise and an appropriate diet.

She is submissive

There are
misconceptions about the word ‘submissive’. To many ‘modern’ women, the
word has a negative tone about it as it connotes weakness. Yet, a truly
submissive woman is not feeble. She lays aside all negative
connotations to rest and sees the ideals of submission not as
subservience or as a threat to her identity, but rather, as a
partnership. It does not undermine her, her confidence or her position.
There is no contest about who is ‘in charge’. She is her husband’s
helper. Whilst submission may not be an easy or popular choice, it
brings harmony to a home. It is that admission of dependence upon one
another and an acceptance of our traditional roles.

It is far too easy
to place the Proverbs 31 woman up on a pedestal as if to try to emulate
her is an unattainable goal. In examining the characteristics of this
remarkable woman, as we pass through our diverse and complex
lifestyles, juggling family, home, work, career and business, let us
see if we can come any closer to this ideal in our own lives and as
traditional gender roles evolve.

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Agency asks financial operators to educate consumers

Agency asks financial operators to educate consumers

The
federal government at the weekend expressed disgust over the attitude
of some financial operators to consumers, which include failure to
provide useful information on their new products.

Ify
Umenyi, director general, Consumer Protection Council (CPC), gave the
charge during a financial services stakeholders’ meeting marking the
2011 World Consumers’ Day in Abuja.

The
DG, described the recent Central Bank of Nigeria (CBN) directive to
micro-finance banks to acquire information technology infrastructure
before the end of the year as a move which would further protect the
interest of consumers at the market place.

Speaking
further on consumer education, Mrs. Umenyi lamented that “this outright
neglect of corporate responsibility has caused untold harm to
consumers, who often fall prey to some unscrupulous fraudsters that
exploit their ignorance to defraud them.”

She
said that the council is not comfortable with the zero level of
consumer education on these new services, stressing that this obvious
lack information placed a lot of statutory burden on sector regulators.

The
meeting, which was attended by sectoral players and various agencies of
government in the financial sector, has as its theme, ‘Consumers for
Fair Financial Service’.

“Much
as we appreciate many innovations brought into the industry by
operators to make financial service attractive to consumers, we are of
the firm belief that it is the responsibility of the operators to fully
educate the consumers properly on the new services and how to maximise
the services.

“This
development underlines the need to adequate financial service literacy
and therefore, places a statutory burden on sector regulators such as
Central Bank of Nigeria (CBN), Securities and Exchange Commission
(SEC), National Insurance Commission (NAICOM), Nigerian Deposit
Insurance Corporation (NDIC), and others to raise tighter policies and
ensure adequate enforcement to guarantee a safe and satisfactory
financial service,” Mrs. Umenyi said.

While
commending the CBN on the directive to microfinance bank on IT
infrastructure, the CPC boss noted that the establishment of the Card
Fraud Arbitration Committee by the apex bank to provide a card fraud
arbitration framework for speedy resolution of card fraud complaints,
was a step in the right direction as it would help to look into the
various anomalies relating to the use of Automated Teller Machine (ATM).

Mrs.
Umenyi also commended the efforts of Lamido Sanusi, the CBN governor,
over his policy which stipulates N50, 000 fines on banks and e-payment
companies that breach its guidelines on the operation of ATM.

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BRAND MATTERS: When brands speak consumer language

BRAND MATTERS: When brands speak consumer language

I remember vividly
when I was a manager in the strategy/account planning department of
Centrespread FCB, an advertising agency. I had the onerous task of
conducting consumer insights on lottery business operations for Lotto
Nigeria. The agency developed some brand slogans ‘Levels fit change’
and ‘Level go change’. These slogans were tested across the key
geographical regions in the country.

‘Levels go change’
was eventually selected based on consumer insights. Consumers believed
it was their own language and in line with their thinking. They
believed the slogan definitely inspired them, that with a new lottery
company, their lives would experience transformation, as they would
never operate on the same level again.

In essence, the
slogan captured their language because it resonated with what they
wished and desired. Consumers tend to respond to any brand that deploys
their language to communicate with them. They develop both emotional
and physical attachments to brands that speak their language. Times are
really changing, and consumers want to maintain a direct relationship
with brands. When ‘Levels go change’ was being tested, the consumers
were already desirous to know the company that wanted to change their
levels for the better. The name of the brand was not revealed then.
Despite this, there was an instantaneous connection because the brand
communicated the language of the consumers.

The only way to get
true connection with consumers is to develop real, long-term
relationships with them. A major way to achieve this is through
language. It has been revealed through several researches that
consumers want to be reached in their own ways. Their own ways revolve
round their language, culture, and thinking. The era of developing
sophisticated communication campaigns is gone. Consumers want simple
and direct communication, and when brands identify with this, it builds
positive perception and fosters relationships.

They are further
captivated and engaged when brands speak the language that aligns with
their yearnings. Brands that speak consumer language can never fade
from their minds.

Etisalat deployed
this tactic in the ‘one million dollar’ promotion campaign. “I don
hammer o” was the language of the winner on the billboards after the
promotion. This strongly sends a signal to others that they can also
“hammer” (which means hitting a goldmine) with Etisalat. Brands should
touch local sentiments and make messages more endearing to the
consumers.

Companies should
engage consumers, listen to them closely, and deploy the major way to
communicate in their language. Companies with consumer mass appeal
brands can also breathe a new life into their brands by speaking
consumer languages. The brand image can be revitalised by speaking
consumers’ minds. I believe Airtel achieved this in their outdoor
communication. One of such is “With Airtel, there is no congestion”. A
traffic jam was the image used to depict ‘no congestion’. This is one
that refreshes the brand in the minds of consumers.

Though the written
or spoken language can be powerful as the imagery deployed, language
also unlocks the values trapped within the brand that consumers desire
or long for. The time has come indeed for companies to make their
brands forward thinking by adopting a strategy to think and act like
the consumers.

This can only be achieved through a strategic deployment of consumer language.

Kudos to my lecturers

I had a chance
meeting with some of my lecturers after several years, in the course of
promoting my company’s writing academy. I was at Redeemers University
where my former lecturer, Bayo Oloyede, is currently the head of the
Mass Communication department.

Mr. Oloyede was the
one who taught me courses like Writing for the Mass Media and Editorial
Writing. I also visited Caleb University, where I met the big don, Lai
Oso, the professor who taught me courses on Theories of Communication,
Communication and Development, at the Ogun State Polytechnic.

They and their
other colleagues are noble men who have impacted lives .They have
laboured to train several successful professionals who now excel in the
marketing communications industry. Through the thick and thin of pains
and toils, they remain in the ivory tower, moulding lives.

I appreciate their unfavoured commitment to nurturing even the upcoming generations, despite the ingratitude of the society.

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