An interview with Seyi Tinubu, CEO & Founder of Loatsad Promomedia; Founder of Noella Foundation, on his role on mentoring young millennials in the tech sector and other inspiring empowerment programs to ensure greater economic growth.
RECENTLY, YOU HAVE EXECUTED SOME GREAT INITIATIVES TO EMPOWER CERTAIN SECTORS OF THE ECONOMY; WHAT MOTIVATES THESE PROGRAMS?
ANS: I think we are in an era like no other where individuals with innovative ideas need to be empowered so they can add value to society. Also, I feel individuals who demonstrate winning spirit despite the challenges they go through should also be empowered; and so giving back to the community through various programs and initiatives would help us achieve greater economic growth, which eventually leads to achieving the Millenium Development Goals (MDGs)
PLEASE TELL US ABOUT SOME OF THESE INITIATIVES
ANS: OK, my wife and I came up with the Noella Foundation, birthed from the idea of giving back to humanity. We thought about what we could do to empower people, children and adults alike. So the Foundation is the umbrella body of these initiatives. The maiden initiative of the foundation is the STEP initiative where my passion lies, developing the tech space so we can develop and play on a global scale through technology. So, the STEP initiative was to fuel innovative tech startups with mentorship and seed funding of 5 million Naira, so these young businesses can grow with the knowledge and capital provided them. We also go further to ensure that we keep tabs with these startups to ensure that the required growth and expansion is achieved. We have other initiatives like scholarship schemes, empowering disabled, welfare schemes, equipping schools with facilities etc These initiatives are carried out by the foundation and supported by Loatsad Promomedia.
DO YOU HAVE ANY KIND OF PARTNERSHIP TO ENSURE THE INITIATIVES ARE ACHIEVED?
ANS: Oh yes, for the STEP initiative, I bring together some of the top players in various sectors to help coach and mentor the young millennial entrepreneurs, guiding them on how to grow their business, making the right business decisions, co-partnering with other businesses and other best practices they require to build, nurture and expand their businesses. For other forms of empowerment which Noella Foundation embark on, Loatsad Promomedia stands as a sponsor and partner to these initiatives, because the Noella Foundation is solely a non-profit organization.
WHAT SPECIFIC GOALS WOULD YOU SAY THE FOUNDATION HAS ACHIEVED
ANS: Through the STEP initiative, we have impacted tremendously in the tech sector by disbursing a seed fund of 5 million Naira to the winner to grow and expand their operations. In addition, we monitor the tech startup closely to ensure that growth is achieved after providing the winner with money and mentorship. We are not just interested in giving these startups money but we want to achieve a significant growth and expansion through our impact and initiative. In addition, one of our goals is to ensure that we see 10 students through university, 20 pupils through secondary school with the disbursement of scholarships. We also want to ensure that certain schools in certain communities within Lagos State get materials to better equip their pupils and increase their education standards. Recently, we donated six inverter batteries to Pacelli School of the Blind in Surulere, Lagos, while Eagle Wings School at Ilaje, Bariga got classroom chairs and tables and renovation of a flooded area within the school. Consequently, our goal is in giving back in key areas that would help achieve Millennium Development Goals (MDGs).
HOW HAVE YOU MANAGED TO CARVE A NICHE FOR YOURSELF IN ADVERTISING, BEING A YOUNG LEADER AND MENTORING YOUNG MINDS?
ANS: It has taken a great deal of hard work, commitment to adding value and dedication to achieving our goals. Most importantly, it has been about having the right team who buy into your vision of empowerment and innovation. We are a young workforce, driven, and with a great deal of passion. Everyone at the company is involved in decision making and finding locations. We sit as a group and try to find out what is missing in the country or where we could have a presence. We are persistent and tenacious and we believe we offer real value. Our aim is to let brands thrive in the best possible way and we see our services as a unique medium to facilitate that process. For mentoring young minds, I would say at some point in your hustle, you have to share your journey with people to inspire them and let them know that they can achieve success as well. So I have to let young people see the brighter future by teaching them the tricks, not forgetting that the process requires a lot of effort from them as well.
WHAT ARE YOUR EXPECTATIONS FOR 2019
ANS: We want to empower more people. Several initiatives that would be executed to create opportunities for people to excel. We envision a new year of growth and greater empowerment. For Loatsad, 2019 will be a better year than the last four, we expect to create more iconic sites and to expand on our digital offerings as well. We hope to give more brands better locations for advertising opportunities; also, to have more strategic partnerships. We want to light Lagos up. In all, we are optimistic we will conquer new grounds in business and empower more people for greater economic growth.
Baba Bajaj, Runs Faster, Lasts Longer, Covers Over 5500 Kms On Tough Nigerian Road
For the first time ever, Nigeria experienced its own Keke rally that kicked off on 7th August from the Stallion Auto Keke- Ijesha Showroom for Bajaj Kekes. The Stallion Bajaj Keke Rally has now completed a tough terrain of 5594 km through 27 cities and 18 states in the West, East, and North Central in less than 41 days.
The road trip was up of a team of 5 experienced riders and the Stallion Bajaj officials and security agents. Collectively the convoy covered more than 26000 Kms without any product issues.
Managing Director for the business, Mr. Manish Rohtagi stated that “The Keke Rally really boasts on how the New Baba Bajaj is tough, strong, reliable, and well equipped for the Nigerian roads. Having covered almost more than 5000 km the Kekes did not face any performance or maintenance challenges. It kept its brand promise of “Runs Faster, Lasts Longer” through every rider who was a part of this rally.”
The rally was flagged off from Lagos and covered states like Ogun, Oyo, Kwara, Kogi, Benue, Enugu, Ebonyi, Cross River, Akwa Ibom, Abia, Rivers, Anambra, Delta, Edo, Ondo, Ekiti, Osun, to prove the durability of Bajaj Keke. It even spread the message of urging people of Nigeria to be responsible for maintaining hygiene to curb the spread of the Corona Virus. The Stallion Bajaj Keke Rally visited celebrated cultural and historic sites in each state highlighting and sharing the Nigerian culture of host communities. The journey to these sites brought forth the stories around it to encourage connecting the youth to their rich heritage.
The vision from this rally was not only to take up the challenge of proving how credible the product is but also to engage in the stories of these riders that will go on to make the brand what it is. The alliance of Stallion and Bajaj will continue to improve lives by going the extra mile providing rider-training facilities, scholarship programmes, mechanic empowerment programmes, ease in the financing, ease of spare part availability, and differentiated customer service through its existing footprints within the auto industry.
Bajaj Auto Ltd. is a world leader in the intracity vehicle space. Loved in 70 countries the brand stands for integrity, dedication, resourcefulness, and determination to succeed and empower. It is a well-known brand for its durability, speed, and maneuverability and is the pioneer brand of tricycles in Nigeria loved by millions. It’s a Keke for the people engineered for a smooth journey and better livelihood.
Heritage Bank, PWC, Deloitte Canvass Use Of Tech To Rescind Effects Of Covid-19, Tackle Fraud
Heritage Bank Plc, Nigeria’s Most Innovative Banking Service provider has called on internal auditors of banks to adopt the various digital technologies to prevent fraud and annul the adverse impact of Covid-19 on the financial ecosystem.
Speaking at the just concluded 47th Quarterly Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), the MD/CEO of Heritage Bank, Ifie Sekibo disclosed that for improved banking operations and a safer financial system for stakeholders, internal auditors must be dynamic and quick to adopt various digital measures.
Raising the alarming impact of fraudulent activities in the banking sector, Sekibo quoted PricewaterhouseCoopers’ (PWC’s) Global Economic Crime and Fraud Survey 2020, revealing that the total cost of cybercrimes is worth an eye-watering $42 billion, which was cash taken straight off companies’ bottom line, whilst 13% of those who had experienced fraud said they had lost $50 million-plus.
Sekibo, who spoke on the theme, “Elevating Internal Audit’s Role in the Face of Emerging Risks and Opportunities” organized virtually and hosted by the Heritage Bank, urged, “While it was sufficient for yesterday’s auditor to understand regular and routine banking practices such as credit, treasury, etc in his traditional assurance role, for him to be relevant in harnessing the opportunities in today’s business world, he must become versed in cybersecurity, artificial intelligence, data analytics, fraud management, regulatory pronouncements, forensics, etc and having equipped himself, present balanced, objective audit reports to Executive Management while striking the right balance between the assurance and consulting responsibilities.”
In her keynote address, titled, “Elevating Internal Audit Role In The Face Of Emerging Risks and Opportunities,” Ibukun Beecroft, Partner Risk Advisory at Deloitte, noted that the banking industry in Nigeria today has adopted various digital measures to keep the business running and delivering services to the customers but there was a need for Internal Audit (IA) positioned to provide the required assurance and consulting services in the face of the changes and attendant risk, particularly increased cyber-risks.
Quoting the 2018 Financial Stability Report by the Central Bank of Nigeria, she stated that Banks recorded 25,029 confirmed cases of fraud and this resulted in a loss of N2.21 billion. More than 90% of fraud cases in 2018 were perpetrated via technologically driven channels.
“As Internal Auditors, the knowledge of the technology would enable us to identify gaps in our core banking applications and other applications and provide relevant recommendations to eliminating loopholes that may serve as an avenue for potential fraud.
She, however, advised auditors on the need to focus on advanced technologies and risk management operations as reflected around the Three Lines of Defense (3LOD) churned out by the Institute of Internal Auditors, which create opportunities for IA and its future role.
Beecroft warned that the ever-changing landscape and evolving risks in the banking industry could render the current internal audit plan obsolete.
According to her, internal auditors should reprioritize the audit plan as soon as possible to provide assurance over the most consequential risks while being cognisant of the impact on operations.
“To take advantage of these changes and disruptions, auditors need to rethink their role by adapting to and embracing change, enabling the IA function to become more agile, nimble, and forward-looking, thus driving change through the 3LOD,” Beecroft stated.
Yetunde Oladeji, Director Internal Audit Services at PricewaterhouseCoopers Limited (PWC), who spoke on the theme, “Elevating IA’s role to meet today’s emerging risks,” advised that the banking sector should be dynamic, prioritize digitization and flexible workforce strategies as these would determine its ability to adapt to rapidly changing circumstances to survive and thrive.
Hymnodia Season 2: Ediomo Akpan Emerges Winner As Show Came To A Hymntacular End
Hymnodia Season 2, the triple E, entertainment, education and edification, reality TV show built around hymns and worship has come to a spectacular (hymntacular) end with Ediomo Akpan emerging the winner (Hymnodian) of the grand prize of an Asaph (a specially designed award named after David’s chief musician), a brand-new car and N5 million.
The grand finale, known as Hymncert, was held in grandeur on Sunday, 13th September 2020, in Lagos. Due to prevailing circumstances of the coronavirus (COVID-19) pandemic, the Hymncert was not open to the general hymn-loving public like before, but what it lost in the crowd, was more than gained in glamour and entertainment (hymntainment).
Minstrel Sarah Thompson set the tone for the evening with her soulful rendition of worship songs which got the few guests lifted in spirit and soul, after which came to the battlenodia (battle) for the prize. Five contestants (Hymntestants) made it to the Hymncert but only four contended for the prize.
The two Hymntestants with the lowest votes, Johnson “Json” Ikpeama and Yinka Odunayo, engaged in a contest for the judges to decide who would join the trio of Frank Okoye, Duke Asuquo and Ediomo Akpan in the grand finale, a situation that saw Odunayo outwitting her counterpart in a fierce battlenodia of hymns.
Other highlights of the show were the performances made by The [email protected] DemiladeAdepega and the legendary Kunle Batik, who thrilled the audience to melodious tunes with their saxophones.
The Hymncert proper started with Duke’s rendition of “Conqueror through the Blood” and followed by Ediomo’s performance of “Christ Our Mighty Captain”. Part one of the hymncert was Victory hymns all the way then followed by the Pidgination of hymns segment.
Returning Hymntestant, Stephen Nwosu, in his melodious voice also featured, singing and dancing with his performance of “Gukongozigi”, — Count Your Blessings in Igbo.
After the performances, came the moment of truth, as Gbenga Badejo & Company, the collation agency handed the results to the host, the Dean of the Hymnstitute (show’s house), Ben Ogbeiwi, who kept the guests longing to know the Season 2 Hymnodian.
Frank Okoye was declared the 3rd runner-up, Yinka Odunayo the 2nd runner-up, while the moment of truth for the real winner was held in a little suspense, which kept the audience eager to know what would follow.
Duke and Ediomo were invited by the Dean to join him on the diamond platform and there were palpable tension and anxiety in the hall. The two men standing were visibly gripped by tension and the Dean allowed it to build by inviting the dignitaries who would present the prizes onto the stage before announcing the winner.
Pastor Kenny Folarin of Day Star Christain Centre was to present the Asaph, The Very Reverend Olushola Makinde to present the car key while the Producer and Executive Producer, Kufre and Mrs Ezinne Kufre-Ekanem were to present the N5million cheque.
With all the dignitaries on stage, the Dean of he Hymnstitute and Host for the Show, Dean Ben Ogbeiwi, bellowed ‘the winner and true Hymnodian of Season 2 is Ediomo’.
The hall erupted with applause.
Ediomo was momentarily shocked but when he realised what had happened, overcome with emotion and sunk to his knees as other Hymntestants swarmed him.
A graduate of the ABRSM Advanced Chorale Singing programme, Ediomo has sung in several choirs over the past nine years and was never on probation for the whole period of the Season 2 show, with the favourite hymn, A Mighty Fortress is our God
He is a pseudo-polyglot, speaks English, Spanish and his native language Annang. He is an Akwa Ibom-born, Lagos-bred soloist with proficiency on the classical flute. He is a chorister, a tenor, at the House on the Rock Church, Lekki, Lagos.
In his remarks, Kufre Ekanem, expressed gratitude to God for his awesomeness in making Hymnodia Season 2, a success, and wished to see Season 3, which will take place in 2021.
The reality TV show on hymns and worship was a one-hour programme on Lagos Television (Channel 256 on DSTV, Channel 90 on GoTV and Channel 113 on Startimes) with a magazine show on the same channel on Wednesday evening. It was also streamed live online via the LTV App available on the app store and on the dedicated YouTube channel, Hymnodiahq.
The show was also viewed on GITV, Kaduna; Anambra Broadcasting Service, Onitsha; Ondo State Radio/TV, Akure; ITV, Abuja and Cross River TV, Calabar. Others are Akwa Ibom Broadcasting Corporation (AKBC); Kwara TV, Ilorin and Plateau Radio TV, Jos. All the stations aired Hymnodia on the same days (Sunday and Wednesday) but at different times.
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