Michel Koopman

Leadership lies at the intersection of driving outcomes and cultivating human connection. Balancing these forces—what I call “edge” and “soul”—is the hallmark ofleaders who make a genuine impact.   

Think of edge as the sharp, results-oriented side of leadership. It’s the ability to drive outcomes, make tough decisions, and relentlessly focus on metrics like efficiency, ROI, and growth. Edge ensures that your vision translates into action.   

On the flip side, soul represents humanity in leadership. It’s about empathy, purpose, and connection. Leaders with soul prioritize relationships, foster trust, and create a culture that resonates deeply with employees and stakeholders.   

Combined, these traits become complementary forces that empower leaders to navigate challenges while inspiring teams to reach new heights. McKinsey identifies four critical leadership behaviors: being supportive, seeking diverse perspectives (soul), focusing on results, and solving problems effectively (edge). Together, they demonstrate how the best leaders integrate these aspects to inspire teams and achieve results.  

WHY BALANCING EDGE AND SOUL MATTERS

As Randal Meske, advisor, C-level operator, investor, and fellow executive coach, points out:

“A leader who leans too heavily on edge risks alienating their team, creating a culture of burnout and disengagement.  Conversely, a leader focused on soul might avoid a strong metrics-based approach and making hard calls, which leads to inefficiency and stagnation.”

What happens when leaders fail to strike this balance?  

Take the example of a tech startup founder laser-focused on edge. Their single-minded drive to scale quickly boosts metrics but leaves their team exhausted and undervalued. This is not sustainable, and thus, success will fizzle out. By integrating soul—acknowledging team contributions, aligning work with purpose, and listening to concerns—they could create a more resilient, motivated workforce, one that will continue to thrive and commit to excellence.

 Now, picture a nonprofit leader who exudes soul, deeply committed to their mission and people. Yet, their reluctance to prioritize data or make cost-saving decisions jeopardizes their organization’s future. A mission that started from a place of passion, will lack the ability to expand its impact. Adding edge—by setting clear priorities and streamlining operations—would strengthen their capacity to serve the cause exponentially.  

Leaders must recognize that success doesn’t stem from one trait alone but from the thoughtful balance of both.  

Leaders who thrive at balancing edge and soul understand that intentional habits and mindful adjustments make all the difference. The following strategies offer practical ways to build this duality into your leadership style.   

REFLECT ON YOUR LEADERSHIP STYLE

Self-awareness is the cornerstone of balanced leadership. We all show up with a characteristic tendency to over-index on either edge or soul. Regularly ask yourself questions like:   

• Am I prioritizing metrics at the expense of human connection?   
• Do I shy away from tough decisions to maintain harmony?   

 Seeking feedback from colleagues and team members can help you identify where you naturally gravitate—and where you need to adjust. For example, a data-driven COO might benefit from building more personal relationships with their team, while a highly empathetic HR leader might need to cultivate comfort with conflict resolution.   

 TAILOR YOUR APPROACH TO THE SITUATION

Great leadership is contextual. Before acting, consider whether the moment calls for edge, soul, or a mix of both.   

• In a crisis: Edge becomes crucial. Swift, decisive actions and clear communication take precedence.   
• During growth or transformation:Lean into soul. Articulate a compelling vision, address team concerns, and ensure everyone feels valued.   
• In routine operations: Strike a balance. Foster efficiency while ensuring people feel heard and supported.   

Think of this as reading the room—not every situation requires the same leadership instrument.   

BUILD BALANCED ROUTINES

Develop habits that encourage both edge and soul to thrive:   

• For edge: Schedule time to review KPIs, set performance benchmarks, and follow through on tough decisions.   
• For soul: Conduct regular one-on-ones, celebrate team wins, and create spaces for open dialogue.   

Even small shifts in your daily routines—like starting meetings with a quick check-in or carving out time to connect with a struggling team member—can yield meaningful results.   

PERFECT YOUR APPROACH TO FEEDBACK

Feedback is where edge and soul intersect most visibly. A balanced approach ensures honesty without losing humanity.   

For example, when addressing performance issues:   

• Edge: Be clear and direct about areas that need improvement.   
• Soul: Acknowledge the person’s strengths and express confidence in their ability to grow.   

This method not only drives accountability but also fosters trust and motivation. But, it is not only about giving feedback. It is also by receiving it. Ask those you work with about how you are being perceived, how else you can assist, what the morale feels, etc. Be open to adjusting your focus between edge and souls as required.  

LEARN FROM THOSE WHO DO IT WELL

 Identify leaders you admire and study how they navigate edge and soul. Pay attention to the ways they adapt to challenges, inspire their teams, and drive results without sacrificing relationships.   

For example, a leader who thrives during crises may excel at decisiveness but also ensures their team feels supported through acknowledgment and encouragement. Use these insights as a blueprint for your own growth. Just last week, I watched a founder and CEO of a major hospitality technology platform handle a crisis during a launch event with just the right amount of grace, decisiveness, involvement, and team empowerment. The team was inspired, the problem was solved, and the launch was a success after all.  

REAP SUSTAINABLE SUCCESS

 When leaders harmonize edge and soul, the impact is transformative. Teams feel energized and valued, innovation flourishes, and organizations achieve purpose and performance. More importantly, these leaders leave a lasting legacy in what they achieve and how they inspire others to lead.   

Balancing edge and soul requires intention and adaptability. Small steps today can lead to a legacy of inspired, sustainable leadership tomorrow.  

Fast Company

Nigeria's inflation rate continued its upward trajectory in December 2024, reaching 34.8% from 34.6% in November, according to data released by the National Bureau of Statistics (NBS). This marks the fourth consecutive monthly increase since September 2024, further intensifying the nation's cost of living challenges.

Key Findings

The headline inflation rate saw a marginal increase of 0.20 percentage points compared to November, primarily driven by heightened demand during the festive period. On a year-over-year basis, this represents a significant 5.87 percentage point increase from December 2023's rate of 28.92%.

Food Inflation Shows Mixed Signals

Food inflation recorded a slight decline to 39.84% in December, down from November's figure. The increase in food prices was particularly notable in:

- Root vegetables (yam, water yam, sweet potatoes)

- Beverages, including beer

- Cereals (guinea corn, maize, rice)

- Fish products (dried sardines, catfish)

Regional Variations

The impact of inflation showed significant regional disparities across Nigerian states:

Highest Food Inflation (Year-on-Year):

- Sokoto: 57.47%

- Zamfara: 46.39%

- Edo: 46.32%

Lowest Food Inflation (Year-on-Year):

- Ogun: 34.24%

- Rivers: 35.43%

- Kwara: 35.58%

Monthly Trends

On a month-to-month basis, the headline inflation rate showed some improvement, decreasing to 2.44% in December from 2.64% in November. This suggests a slight moderation in the pace of price increases, though the overall trend remains concerning.

Historical Context

The current inflationary pressure can be traced back to significant policy changes in 2023, including:

- The devaluation of the naira

- Removal of fuel subsidies

- Multiple interest rate hikes by the central bank

The twelve-month average inflation rate through December 2024 stood at 33.24%, representing an 8.58 percentage point increase from the previous year's average of 24.66%.

The National Bureau of Statistics (NBS) website is back online, following 29 days of inaccessibility caused by a cyberattack. The bureau had confirmed the hack on December 18, 2024.

While the website is now functional, a notable omission is the controversial “Crime Experience and Security Perception Survey,” which was previously available. The cyberattack occurred just 24 hours after the publication of the report, which detailed alarming crime statistics in Nigeria.

The report revealed that Nigerians paid a staggering N2.23 trillion as ransom over the one-year period between May 2023 and April 2024. It also estimated that 51.89 million crime incidents occurred nationwide during the period. The north-west region recorded the highest number of crimes, with over 14 million cases, while the south-east reported the lowest, with just over six million. Additionally, rural areas experienced a higher crime rate (26,526,069 incidents) compared to urban areas (25,360,963 incidents).

Following the publication, media reports suggested that Adeniran Adeyemi, Statistician-General of the Federation, was questioned by the Department of State Services (DSS) over the methodology and data used in the survey. However, Ichedi Sunday, the NBS Head of Communications, refuted these claims, stating that the statistician-general was never interrogated by the DSS.

The restoration of the website has raised questions about the missing report, but the NBS has yet to issue an official statement on its removal.

The Nigerian Communications Commission (NCC) has authorized Mobile Network Operators (MNOs) – MTN, Airtel, Globacom, and 9mobile – to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine commercial banks over unpaid debts.

The affected banks include First City Monument Bank (FCMB), Zenith Bank, Sterling Bank, Jaiz Bank, UBA, Polaris Bank, Unity Bank, Fidelity Bank, and Wema Bank. This decision stems from years of complaints by telecom operators regarding the banks’ failure to pay for USSD services, despite charging their customers for the platform.

If the disconnection goes into effect, millions of customers of these banks will lose access to USSD services, making it impossible to perform transactions through the platform.

Two-Week Ultimatum

In a notice issued on Wednesday, the NCC gave the banks a two-week grace period to settle their debts. If they fail to comply by January 27, 2025, their USSD codes will be withdrawn and could be reassigned to other entities.

The notice, signed by Reuben Muoka, the NCC’s Director of Public Affairs, stated:

“The Commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025. This action is in line with the Commission’s Guidelines on Short Code Operation in Nigeria, 2023.”

Non-Compliance and Debt Accumulation

The NCC revealed that out of 18 financial institutions, only the nine listed banks have failed to comply significantly with the directives of the Second Joint Circular issued by the Central Bank of Nigeria (CBN) and the NCC on December 20, 2024. Some of these debts have been outstanding since 2020.

The circular outlined the settlement of outstanding invoices owed to the telecom operators. Failure to meet these obligations disqualifies the banks from fulfilling the Good Standing requirements necessary for the renewal of their USSD codes.

The NCC emphasized the urgency of immediate compliance to avoid service disruption, urging the banks to resolve their outstanding debts promptly.

Israel, Hamas ceasefire accord followed by airstrikes on Gaza, residents say

Israel intensified strikes on Gaza hours after a ceasefire and hostage release deal was announced, residents and authorities in the Palestinian enclave said, and mediators sought to quell fighting ahead of the truce's start on Sunday.

The complex ceasefire accord between Israel and militant group Hamas, which controls Gaza, emerged on Wednesday after months of mediation by Qatar, Egypt and the U.S. and 15 months of bloodshed that devastated the coastal territory and inflamed the Middle East.

The deal outlines a six-week initial ceasefire with the gradual withdrawal of Israeli forces from the Gaza Strip, where tens of thousands have been killed. Hostages taken by Hamas would be freed in exchange for Palestinian prisoners held by Israel.

At a news conference in Doha, Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani said the ceasefire would take effect on Sunday. Negotiators are working with Israel and Hamas on steps to implement the agreement, he said.

"This deal will halt the fighting in Gaza, surge much-needed humanitarian assistance to Palestinian civilians, and reunite the hostages with their families after more than 15 months in captivity," U.S. President Joe Biden said in Washington.

His successor, Donald Trump, takes office on Monday and claimed credit for the breakthrough in Gaza.

Israel's acceptance of the deal will not be official until it is approved by the country's security cabinet and government, with votes slated for Thursday, an Israeli official said.

The accord was expected to win approval despite opposition from some hardliners in Israeli Prime Minister Benjamin Netanyahu's coalition government.

While people celebrated the pact in Gaza and Israel, Israel's military escalated attacks after the announcement, the civil emergency service and residents said.

Heavy Israeli bombardment, especially in Gaza City, killed 32 people late on Wednesday, medics said. The strikes continued early on Thursday and destroyed houses in Rafah in southern Gaza, Nuseirat in central Gaza and in northern Gaza, residents said.

Israel's military made no immediate comment and there were no reports of Hamas attacks on Israel after the ceasefire announcement.

A Palestinian official close to the ceasefire negotiations said mediators were seeking to persuade both sides to suspend hostilities ahead of the ceasefire going into effect.

JUBILATION IN GAZA

In social media posts, some Gaza residents urged Palestinians to exercise extra caution in the belief Israel could step up attacks in the next few days to maximize gains before the ceasefire starts.

Nevertheless, news of the ceasefire deal sparked jubilation in Gaza, where Palestinians have faced severe shortages of food, water, shelter and fuel. In Khan Younis, throngs clogged the streets amid the sounds of horns as they cheered, waved Palestinian flags and danced.

"I am happy. Yes, I am crying, but those are tears of joy," said Ghada, a displaced mother of five.

In Tel Aviv, families of Israeli hostages and their friends likewise welcomed the news, saying in a statement they felt "overwhelming joy and relief (about) the agreement to bring our loved ones home."

In a social media statement announcing the ceasefire, Hamas called the pact "an achievement for our people" and "a turning point."

If successful, the ceasefire will halt fighting that has razed much of heavily urbanised Gaza, killed over 46,000 people and displaced most of the tiny enclave's pre-war population of 2.3 million, according to Gaza authorities.

That in turn could defuse tensions across the wider Middle East, where the war has stoked conflict in the Israeli-occupied West Bank, Lebanon, Syria, Yemen and Iraq, and raised fears of all-out war between arch regional foes Israel and Iran.

With 98 Israeli hostages remaining in Gaza, phase one of the deal entails the release of 33 of them, including all women, children and men over 50. Two American hostages, Keith Siegel and Sagui Dekel-Chen, were among those to be released in the first phase, a source said.

FOOD LINED UP AT THE GAZA'S BORDERS

The agreement calls for a surge in humanitarian assistance to Gaza, and the U.N. and the International Committee of the Red Cross said they were preparing to scale up their aid operations.

"A ceasefire is the start - not the end. We have food lined up at the borders to Gaza - and need to be able to bring it in at scale," said Cindy McCain, World Food Program executive director, on X.

Global reaction to the ceasefire was enthusiastic. Leaders and officials of Egypt, Turkey, Britain, the United Nations, the European Union, Jordan, Germany and the United Arab Emirates, among others, celebrated the news.

Biden and Trump both claimed credit for the deal that was months in the making but was helped across the line by a Trump emissary.

Trump's Mideast envoy Steve Witkoff was in Qatar along with White House envoys for the talks, and a senior Biden administration official said Witkoff's presence was critical to reaching a deal after 96 hours of intense negotiations.

Biden said that the two teams had "been speaking as one".

Israeli hostage families expressed concern that the accord may not be fully implemented and some hostages may be left behind in Gaza.

Negotiations on implementing the second phase of the deal will begin by the 16th day of phase one, and this stage was expected to include the release of all remaining hostages, a permanent ceasefire and the complete withdrawal of Israeli forces from Gaza.

The third stage is to address the return of all remaining dead bodies and the start of Gaza's reconstruction supervised by Egypt, Qatar and the United Nations.

If all goes smoothly, the Palestinians, Arab states and Israel must still agree on a vision for post-war Gaza, including the unanswered question of who will run Gaza after the war.

Israeli troops invaded Gaza after Hamas-led gunmen burst into Israeli border-area communities on Oct. 7, 2023, killing 1,200 soldiers and civilians and abducting over 250 hostages, according to Israeli tallies.

Reuters

RUSSIAN PERSPECTIVE

Russia strikes key Ukrainian gas storage facility – MOD

Russia targeted Ukraine’s critical gas and energy infrastructure in response to recent attacks on Russian territory using Western-supplied long-range missiles, the Russian Defense Ministry announced early Thursday.

The combined strikes, carried out on the morning of January 15, involved drones and high-precision weaponry and successfully hit several targets intended to weaken facilities supporting Ukraine’s military-industrial complex.

“One of the successfully hit targets was the ground infrastructure of the largest underground gas storage facility in the city of Stryi in the Lviv region,” the ministry stated. According to previous media reports, explosions were also heard at various facilities in the Khmelnitsky, Vinnitsa, Ivano-Frankovsk, and Kharkov regions, although the Defense Ministry has not disclosed the full list of targets.

The ministry said the strikes were a direct response to Ukraine’s use of US-made ATACMS and British-made Storm Shadow missiles in attacks deep into Russian territory, as well as Kiev’s attempt to target a Russian gas compressor station in the Krasnodar region. The facility is essential for operating the TurkStream pipeline, which delivers Russian gas to Türkiye and Europe.

Following Wednesday’s strikes, Ukraine’s state energy company Ukrenergo confirmed widespread power outages in Kharkov, Sumy, Poltava, and Dnepropetrovsk due to what it described as a “massive missile attack.”

Moscow has labeled Kiev’s attempt to destroy the TurkStream pipeline facility an act of “energy terrorism,” with Russian Foreign Minister Sergey Lavrov accusing Washington of green-lighting sabotage in Europe.

In early 2024, Moscow added Ukrainian power plants to its list of legitimate military targets, citing increased drone incursions by Kiev into Russian territory. The incursions have primarily targeted energy infrastructure but have also hit residential areas. Most of Ukraine’s non-nuclear generation capacity has been disabled or destroyed in strikes since then, with Ukrenergo acknowledging that the country’s power system is struggling to recover.

The Russian Defense Ministry warned in its statement that “any provocations by the Kiev regime will not go unanswered.”

Ukraine’s Bilche-Volytsko-Uherske underground gas storage facility, located near the city of Stryi, is the largest of its kind in Ukraine and Europe, with a capacity of approximately 17 billion cubic meters. Strategically situated near Ukraine’s western borders with Poland, Slovakia, Hungary and Romania, the facility has played a crucial role as a hub for the transit of Russian natural gas into the EU. Kiev halted the flow of Russian gas to European customers via Ukraine on January 1, after refusing to extend a transit deal with Russian energy giant Gazprom.

WESTERN PERSPECTIVE

Russia launches new missile barrage at Ukraine, targets gas infrastructure

Russia launched scores of missiles and drones at Ukraine on Wednesday, targeting gas infrastructure and other energy facilities in western regions in a new barrage against the struggling power system in the depths of winter.

President Volodymyr Zelenskiy said that the Russian forces launched over 40 missiles during the morning attack and used more than 70 drones overnight.

Ukrainian air defences shot down 30 missiles and 47 drones, the air force said. Another 27 drones were "lost" in reference to Kyiv using electronic warfare to redirect them.

"Another massive Russian attack. It's the middle of winter, and the target for the Russians remains unchanged: our energy infrastructure," Zelenskiy said in a social media post on X platform.

"Among their objectives were gas and energy facilities that sustain normal life for our people."

The capital Kyiv also came under attack, with hundreds of residents taking shelter in underground metro stations across the capital, sleeping on yoga mats and sitting on folded chairs with their pets.

The governor of Ukraine's western Lviv region said two energy facilities, in the Drohobych and Stryi districts, were damaged. In neighbouring Ivano-Frankivsk, the governor said air defences were fending off Russian attacks on facilities.

The air force also said that gas infrastructure facilities in the Kharkiv region in the northeast were attacked.

Russian Defence Ministry said that its forces conducted strikes on Ukrainian energy facilities, successfully hitting all designated targets.

In a further statement issued after midnight, the Russian ministry said the strikes were in response to Ukrainian attacks using U.S. ATACMS missiles and British-made Storm Shadow missiles and an attack on Russia's Krasnodar region aimed at halting gas flows through the Turkstream pipeline network.

The ministry said its forces had made a successful strike on a large gas storage facility in the western Ukrainian town of Stryi.

GAS SUPPLIES STEADY, KYIV SAYS

Ukraine's oil and gas company Naftogaz said there were no outages, adding that "gas supplies to the population were uninterrupted."

Ukrainians use natural gas mainly for heating homes and cooking. The country uses gas stored over the summer months to use in winter, when daily production does not cover consumption.

Ukraine's underground gas storage facilities are located in the western part of the country, including in the Stryi area. Their role has grown since Kyiv refused to extend a gas transit agreement with Russia.

Russia has stepped up its bombardments of Ukraine's power sector and other energy infrastructure since March 2024, knocking out half of the available generating capacity and forcing long, rolling blackouts across the country.

Ukrainian cities, businesses, and residents rushed to install new generating capacities, including solar panels, batteries, generators, and other equipment to increase their energy independence and survive the critical cold months.

Zelenskiy, who visits neighbouring Poland on Wednesday, reiterated his pleas to Kyiv's Western allies to strengthen Ukraine's air defence.

"We have also discussed licenses for the production of air defence systems and missiles for them, which could serve as one of the effective security guarantees for Ukraine. This is both realistic and necessary to implement."

RT/Reuters

In response to the outcry over their manner of handling the sons of Nigerian billionaire Chief Razaq Okoya, Subomi and Wahab, over alleged naira abuse versus their priors, the EFCC finally issued a public invitation for those boys to appear at their office on Monday. Respectfully summoning those boys for an investigation was a far cry from their approach to confronting the same “crime” when it involved the child of a non-billionaire just last year. The same EFCC that wrote a tame letter to the Okoyas ferociously stormed Pinnock Estate to arrest Bobrisky (Okuneye Idris). They were so carried away by the sensation they generated that they turned Bobrisky’s arrest into the defining trophy of their institutional life. So, what happened to all their boasts about “we are very serious about restoring the dignity of the naira”? They even mentioned setting up a department dedicated to tackling naira abuse.

In any case, I do not think that the Okoya boys did anything that warranted their invitation. Their act was not that serious, and it would not have been taken as such by the public if the EFCC had been reasonable. I have always thought of the whole idea of criminalising “naira abuse” as specious. Abusing a currency cannot be achieved by pursuing those who indulge in harmless fun with money; it is always about the (in)actions of the agents and institutions whose activities torture the economic value out of it. Restoring the dignity of the naira will not be achieved by elevating the paper notes into a national fetish but through serious political and economic activities that enhance its value. The EFCC must know this already, but they still had to invite the Okoya boys because they set themselves up to an iberiberi standard which they must now uphold. That is why you do not make ridiculous laws. Enforcing them makes you look stupid.

The EFCC is not the only organisation that finds itself in the crosshairs of Nigerians over the Okoya boys’ issue. Even the police whose officer appeared in the video helping the boys to hold the bales of naira as they played now must explain themselves to the public why they did not act on the supposed naira abuse. In justifying themselves, the spokesman for the Nigeria Police Force, ACP Olumuyiwa Adejobi, noted that the officer had the duty to prevent a crime or at least not participate in it. On that score, I agree with him one hundred per cent. Even if there is no offence called “naira abuse” listed in the books somewhere, the officer should still have known better than to participate in such a silly display. If he let the boys use him as a prop, you can bet his interaction with them off-camera will be unprofessional.

Where I depart from Adejobi is his failure to recognise himself and his organisation in that officer. If he looks well enough, he will see that unnamed officer as a metonym of the police impotence when interacting with a higher power. The Nigerian police is one organisation that knows how to rage, but only at people who have little or no power. There is a reason that the people they serially arrest, detain, and on whose behalf they even defy the courts to incarcerate extendedly for frivolous crimes like “cyberbullying” or “cyberstalking” in a matter involving the rich and the poor are mostly the economically weaker party. Their understanding of what constitutes crime and punishment is driven by personalities and not necessarily principles, and that is why it would never have occurred to anyone in either the police or the EFCC to storm the Okoya mansion to arrest those boys. Their postured zeal always capitulates to a higher power (aka money, which, of course, buys the political capital that protects the Okoya family from police indignities).

So, for Adejobi, if the police organisation right up to its topmost cadre cannot maintain principled professionalism, why should that lowly officer be different? If his bosses get so regularly swayed by money power that they hold themselves back from the ethical discharge of their duties, what can anyone expect from an officer confronted by billionaire sons holding cash he has probably never seen before? I do not know why Adejobi thinks the officer could have straightened out those boys when even his own bosses do not have a record of doing so in their dealings with rich people. If the police find the picture of their officer serving money cringey, it is good because they at least get an idea of how the public views their lack of self-assurance.

Instead of merely scapegoating him, they should take some time to consider how the psyche of the officers they send to the houses of wealthy Nigerians is impacted by being in such an environment. Poorly paid officers cannot but be intimidated by the wealth and power of folks who are also (often) haughty, making it hard for them to be consistently professional. That is why police officers assigned to wealthy Nigerians usually become servants.

There are countless cases of police officers who have become gatemen, drivers, nannies, and even handbag carriers. Female politicians (or consorts) use policewomen to carry their accessories like designer handbags. They must derive satisfaction from accessorising themselves with an officer of the state serving their vanity. Remember that video Davido posted of himself where, in his background, a police officer was washing his Rolls Royce? If not an ego trip, who buys a vehicle like a Rolls Royce and uses untrained hands like that of a random police officer to clean it?

These things happen every single day across the country. When the manifestation of police servitude cuts too close to the bone in its depiction of their organisation, PROs like Adejobi throw a fit. They recall that one single officer while the rest of his poor colleagues continued to wash plates for the madams at the top.

If there is any reason that the officer in the Okoya mansion could not challenge those boys as his bosses expected him to, it is because the police system does not autonomously run as an agency staffed with professionals who approach their duties with the self-assurance of knowing the law and enforcing it detachedly. They are vulnerable to the intimidation of power and that spirit percolates right through to the smallest officer deployed to the spaces occupied by rich and powerful people. If the EFCC and the police could not confront the Okoyas, do you blame a powerless officer for not being able to stand on his two feet before those boys?

In justifying why the police officer had to be recalled and punished, Adejobi reportedly said he was never attached to the young men. He was supposed to be on guard duty at the Okoyas’ family business, Eleganza. Several things are instructive here. One is that Eleganza is a private company that has been in business long enough to pay for the services of a security agency to guard their facilities. Why impose an officer on them at the expense of the public already starved of efficient policing too? The fact that the Eleganza administrators forwarded the officer to their house to serve their children suggests they find police security redundant. Why retain him then? There must be some self-glorifying feeling to having a police officer in your house to run your errands.

If the officer’s bosses knew that the family had reassigned him and they did not withdraw him, it demonstrates the poverty of their organisational self-understanding. If they had no idea that the officer was reporting at the Okoya mansion instead of at Eleganza, then it calls into question their operational efficacy and their ability to provide “security.”

Punch

Melissa Houston

You may have heard “You need money to make money.” It’s one of the most common phrases you will hear in entrepreneurship. It can hold true in some cases, but to get started, you can start a business without going into debt.

Building a business without debt is not only possible, but also a smart approach. With careful planning, strategic decision-making, and a resourceful attitude, you can launch and grow a successful business without the stress of loans or credit card debt weighing you down.

Let’s look at some tips to learn how to build a business without going into debt:

1. Start small and scale strategically

One of the most important steps that cannot be skipped when starting a business is to prove your offer in the market. Before you invest significant resources it’s essential to determine if there is a demand for your offer. By proving your offer, you reduce risk of failure.

2. Leverage existing skills and resources

Use the skills, tools, and resources that you already have to get a business going. It’s expensive to hire consultants to do work for you, so learn how to do as much as you can yourself. This will help reduce costs and save money for more important investments.

3. Adopt a pay-as-you-go approach

You need to generate revenue before you invest in growing your business. This generates the financial stability you need to grow your business. By securing paying customers first, you can reinvest profits strategically, avoid unnecessary debt, and create a solid financial foundation for long-term success.

4. Build a strong cash flow plan

Cash is queen in a business and a solid cash flowmanagement plan will ensure sustainability in your business. Create a business budget and follow it to ensure that you don’t overspend and put your business at risk.

5. Avoid the “shiny object syndrome”

Establish clear priorities for your business and avoid overspending on expenses that you did not plan for. It’s important to say no to alluring marketing schemes selling you things that you don’t need for your business. It’s helpful to create a spending checklist to help you stay on track.

6. Plan for profit, not just revenue

Be sure that you have priced your offer profitably and understand the difference between profit and revenue. Monitor your profit margins and ensure you are keeping them competitive. Most importantly, ensure your business is making money.

When Debt Might Be Necessary

There are situations when taking on debt can be a strategic move, especially when you are scaling after you’ve proven your business model. For example, if you’ve validated your offer, have steady cash flow, and see a clear opportunity for expansion that requires upfront investing, then borrowing money might be required.

Before you borrow money, you need to ask yourself if the loan will directly contribute to revenue growth. Can your business take on the debt repayments even during slow periods? If the answer is yes, then look for manageable and low-interest financing options.

The bottom line is that debt free growth in your business is possible with strategic planning and patience. Building a business takes time, and most businesses do not experience huge growth overnight. The best approach to building a business without going into debt is to start small, prove your offer, manage your cash flow, and focus on profitability. You then reinvest the profit that you are making in your business into growing your business.

Forbes

The Nigerian Exchange Limited (NGX) experienced a significant decline yesterday as investors lost N1.1 trillion in a broad market selloff affecting 41 stocks. The All-Share Index fell by 1,745.16 points (1.66%) to close at 103,622.09, while the market's total value dropped to N63.188 trillion.

Major companies, including Dangote Cement, Julius Berger Nigeria, and MTN Nigeria Communications, led the downturn. The market showed overall negative sentiment, with 41 stocks declining compared to just 23 gainers.

Among the top performers, Northern Nigeria Flour Mills led with a 10% gain, closing at N45.10. Other notable gainers included Livestock Feeds (+9.91%) and Academy Press (+9.90%). On the losing side, Honeywell Flour Mills saw the steepest decline of 10%, closing at N9.54, while both Julius Berger and Dangote Cement fell by 9.98%.

Trading volume increased slightly by 1.1% to 511.157 million units, with a total value of N12.759 billion across 13,052 transactions. Guaranty Trust Holding Company (GTCO) was the most actively traded stock, with 54.352 million shares worth N3.152 billion changing hands, followed by Nigerian Breweries with 32.198 million shares valued at N1.029 billion.

The market decline reflects broader investor concerns, with significant pressure on large and medium-sized companies across various sectors of the Nigerian economy.​​​​​​​​​​​​​​​​

The Central Bank of Nigeria (CBN) has imposed fines totaling ₦1.35 billion on nine deposit money banks (DMBs) for failing to ensure adequate cash availability at automated teller machines (ATMs) during the festive season.

The penalized banks include Fidelity Bank, First Bank, Keystone Bank, Union Bank, Globus Bank, Providus Bank, Zenith Bank, United Bank for Africa (UBA), and Sterling Bank. Each bank was fined ₦150 million.

In a statement released on Tuesday, Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, explained that spot checks conducted by the apex bank revealed violations of its cash distribution guidelines. Consequently, the fines will be debited directly from the banks’ accounts with the CBN.

“This enforcement action demonstrates the CBN’s zero-tolerance stance on cash flow disruptions. The affected banks failed to comply with our guidelines, especially during a period of high demand for cash,” the statement read.

Sidi Ali further emphasized that the CBN remains committed to ensuring seamless cash availability across the banking sector and warned that additional sanctions would be imposed on any financial institution found violating its cash circulation rules.

The regulator also announced plans to intensify monitoring of cash hoarding and rationing at bank branches and point-of-sale terminals. It pledged to work with security agencies to combat illegal cash sales and enforce adherence to the daily withdrawal limit of ₦1.2 million for POS operators.

On November 29, CBN Governor Olayemi Cardoso urged customers to report any withdrawal difficulties using designated contact channels. This followed a directive from the CBN mandating banks to prioritize ATM cash disbursement or face penalties.