Business News

Wema Bank’s board has appointed Moruf Oseni, the bank’s deputy managing director, as its new chief executive. The development followed the imminent retirement of the current CEO Ademola Adebise, who exits the bank at the end of the first quarter of 2023. Wole Akinleye, an executive director, will fill the void Oseni will be leaving by taking up the deputy managing editor’s role. On 2 January, 2023, Adebise will commence a terminal leave, the culmination of his 13-year service to the bank. Under his stewardship, Wema Bank’s asset base grew by 155 per cent to over N1.2 trillion, and its…
As 2022 winds to a close, I think we can all agree on one thing – it's been a weird year. With the worst of the pandemic (hopefully) behind us, many people have emerged blinking into the light from two years in survival mode, looked around and wondered: What do I want to do with my life now? That confused determination to chart a new course is reflected in persistently high quit rates, ballooning interest in entrepreneurship and digital nomadism, a surge in labor organizing and millions of posts, articles and think pieces about just how many of us are…
Company growth is the ultimate strategic challenge, and it gets harder as your business matures. Once your business is running and sustainable, you're expected to grow quickly as an indication of long-term health and competitiveness. Thus continued growthbecomes the biggest challenge for many business owners I meet in my consulting practice. Everyone is looking for that magic strategy that will keep them growing even during market and company changes. In fact, I have long believed continual growth gets more and more difficult as your company gets bigger and more mature, as your organization develops repeatable processes and adds overhead to…
Wednesday, 28 December 2022 05:56

Why fear is the entrepreneur's best friend

During a recent fireside chat with the Metro Atlanta Chamber (hosted by my friend John Yates), I was asked whether there was some magic pill that I take that helps me get up and keep fighting the entrepreneurial good fight every day. My answer: Yes, it’s called fear. I drink it every morning. There’s something really powerful about the idea of fear within the entrepreneurial experience. Entrepreneurship is, at its heart, an incredibly scary thing; individuals are laying everything on the line to pursue an idea, dream or passion. Often, new business founders are putting themselves at an incredible risk…
As a mentor to many business professionals and owners who want more, and to aspiring entrepreneurs, I find a wealth of innovative ideas, but often less insight on what it really takes to transform ideas into an income stream that can excite new customers into long-term business success. Thus, my guidance is usually more on the realities of creating a business, rather than critiquing ideas. For example, innovative technologists often come up with a new device or app, just because they can and assume everyone will want one. Social entrepreneurs pitch me their latest idea for reducing world hunger (such…
I’m a big advocate of value-driven wealth creation. In simple terms, this means recognising that we have limited time and resources. We’re all mortal, and one day we will die. So, we have to make the most of the time and resources we do have. We have to face facts: most of us can rely on a single salary and don’t have unlimited cash to fund our goals and dreams. As a result, we have to focus. If we focus our time and energy on our resources, we can dramatically increase the probability of creating wealth. Those who spend time…
Shell will pay 15 million euros ($15.9 million) to communities in Nigeria affected by multiple oil pipeline leaks in the Niger Delta, the oil company on Friday said in a joint statement with the Dutch division of Friends of the Earth. The compensation is the result of a Dutch court case brought by Friends of the Earth, in which Shell's Nigerian subsidiary SPDC last year was found to be responsible for the oil spills and was ordered to pay for damages to farmers. The money will benefit the communities of Oruma, Goi and Ikot Ada Udo in Nigeria, that were…
The management of Ibadan Electricity Distribution Company (IBEDC) Plc, has assured customers across its network of its commitment to provide quality services during the Christmas holiday. The management in a statement issued in Ibadan while wishing all its customers and Nigerians a merry Christmas and New year celebrations, said the birth of Jesus Christ was an embodiment of sacrificial love which all mankind should emulate. It said, “It is important that we dedicate ourselves to the service of humanity in line with the true teachings of Jesus Christ on tolerance, patience, brotherly kindness, care for the needy and love for…
It's not easy to run one of the world's largest and most complex companies. Thirty percent of Fortune 500 CEOs last less than three years. The odds that a CEO will lead an average company to become a top-quintile performer are only 4 percent. Those who get it right, however, deliver outsized results. According to McKinsey research, top quintile companies create nearly 90 percent of their industry's value and 30x more value than the middle three quintiles combined. They also have tremendous social, environmental, and ethical impact. The multi-billion-dollar question, then, is what is it that separates those who deliver…
Let's talk about finding the first true-believer who will put money into your startup. There's a killer Catch-22 about raising money in that you can't get that first investor until you land that first investor. Having gone through the fundraising process over and over again, I can assure you it's absolutely as convoluted as it sounds. Having been an angel investor myself at one point (but no longer), I can also confirm that investing in startups – whether it's private, angel, or venture capital – is rooted in herd mentality. No one wants to be first, then everyone wants to…
June 09, 2025

Nigerian energy firm achieves 200,000 barrels daily output after Shell acquisition

Renaissance Africa Energy Company Limited (RAEC) announced it has successfully increased crude oil production beyond…
June 09, 2025

Northern leaders criticize Tinubu for focusing on 2027 re-election instead of national challenges

The Arewa Consultative Forum (ACF) has criticized President Bola Tinubu and the ruling All Progressives…
June 10, 2025

5 crystal clear signs to quickly spot someone with good leadership skills

Marcel Schwantes So many leaders in high perches chase titles, perks, bigger offices and even…
June 07, 2025

‘Nigerians are marrying all our daughters’, Kenya’s President Ruto, cries out

Kenyan President William Ruto has stirred up a storm on social media with his provocative…
June 10, 2025

13 killed in fresh attacks in sokoto and plateau states amid rising insecurity

At least 13 people have been killed in separate violent incidents in Sokoto and Plateau…
June 10, 2025

What to know after Day 1202 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Russia conducts ‘retaliatory strikes’ on Ukrainian airfield – MOD Russian forces have conducted…
June 10, 2025

Apple announces biggest software changes in years

Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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