Connect with us

Banking

Why It Is Unethical For PR Agencies To Mark Their Own Homework—Philip Odiakose

Published

on

Philip Odiakose

The first independent communications/PR measurement agency in Nigeria, P+ Measurement Services, recently set a new feat by becoming the first member of the International Association for Measurement and Evaluation of Communication (AMEC) in the country.

In a recent chat with BrandArena, Philip Odiakose, Lead Consultant of the firm, spoke on the benefit of being AMEC member and why it is unethical, unhealthy and unprofessional for PR agencies to mark their own homework. Excerpt:

Communications/PR measurement is very key to the growth of any business. How well is this practice in Nigeria?

I will begin by stating the meaning of AMEC, AMEC is the International “Association for Measurement and Evaluation of Communication”. The PR measurement practice is a budding industry in Nigeria. Brands are gradually warming up to the idea that value measurement is a core aspect of every marketing communications campaign. Benchmarking has become more important, PR measurement is gradually taking centre stage and definitely trend setting will complete the revolution for future performances of businesses and brands and we are glad that P+ is at the forefront of this evolution in the Nigerian business space.

In South Africa they have an Independent Association called SAMMA (South African Media Monitoring and Measurement Association) governing the Monitoring and Measurement consultant. There are no independent associations in Nigeria for the consultants in Nigeria, that is the reason PR agencies can take Independent monitoring briefs; which is unethical, unhealthy and unprofessional for an agency to mark their own homework. It is not right for you to be the accused, the judge and jury of your work”.

Can you expatiate more on that?

From my experience in the IMC industry, I can tell you that sometimes, agencies trim down on the negative report in order to look good in the eyes of the brand owners. Especially if the story is being published in one of the second tier publications that they feel doesn’t matter. That is why part of the service we also provide to our clients is crises management advisory. We understand the behaviour of the online media; we have monitored them and their feeders for a long time to know how to engage them when we want to.

As Lead Consultant at P+, how do you feel becoming the first member of AMEC in Nigeria?

We are excited to be the first member of AMEC in Nigeria. We are also happy to be the first Independent Communications/PR measurement agency in Nigeria. Our drive has been to improve the value proposition of brands so as to create an environment where brands can improve their services after reviewing the results of their campaigns. We want PR agencies to start seeing Independent Communications measurement agencies as partners (friends) rather than foes as our work helps to reflect the effectiveness of their activities.

We look forward to becoming a member of FIBEP, FIBEP is the world’s media intelligence federation with over 120 corporate members employing over 13,857 people in over 60 countries.

Due to the harsh economic situation of the country, many brand owners have been cutting cost on marketing communications, how has that affected P+?

The economic situation has affected brands no doubt, but we have been able to play a vital role in the growth of several brands even in this recession. A communications manager once said “if I had my last penny to choose between a PR agency and a PR measurement agency, I will choose a PR measurement agency, because I’m a communications person so I can still handle the PR for my brand, but I won’t want to take the risk of evaluating and measuring my own homework as I tend to be biased naturally”. We have proved through this period of recession that our consistent services are valuable to our clients by constantly providing them with access to information about their brands and supplementary information about the economic situation, so the effect on us has been minimal.

Tell us briefly about some of the things P+ has done so far this year?

As new entrants into the Nigerian market, we are proud of some of the work we’ve been able to do this year. We have provided PR measurement and media monitoring for clients locally and internationally across diverse industries ranging from financial institution, airlines, mobile technology, politics and government, tourism and resorts (South Africa), beverages and regional carnivals. It is evident that there is a market for P+’s services in the Nigerian business landscape as we have been able to build trust of multinationals, government and PR agencies in less than 2 years of our operation.

P+ has been one of the fastest growing agencies that offer PR measurement service in the country. Where do you see P+ in the next 5 years?

In the next five years, I see an industry where brands will put a stop to the practice of allowing PR agencies to handle their media monitoring and reportage, an industry where professionalism is paramount and one in which P+ is bringing in new innovations to help PR agencies and communications managers implement the new public relations measurement standard of the industry.

Lastly, what are your thoughts about the future of Communication/PR measurement generally? And what does being a member of AMEC mean for P+ as a young agency?

AMEC membership is internationally representative, with members in over 48 different countries, providing an opportunity to network and do business across borders which P+ happens to be the only member in Nigeria currently.

I have always said that measurements and evaluations are destined for top management capacities; from the creative strategy sessions and the processes of determining results. The future of the measurement industry is an industry where measurement consultants are called in during the planning phase to help determine a scope for how to measure results of their campaigns on all platforms from the start.

We are gradually leading the evolution by monitoring 26 print publications daily and 71 print publications in total within Lagos, part of the south, east and west; knowing full well that it is impossible to do selective monitoring and provide a competitive analysis report for brands. Timeliness stand us out in the industry, as our daily report gets to clients as early as 5am around the clock (first of its kind in Nigeria), every communication/PR directors and managers want to see their daily media highlights when they are still on the bed or on their way to work; that’s what P+ provide.

We received testimonies from clients, that “our timely daily report has helped them to make quick management decisions”. P+ is a believer of the human analysis report as against machine generated reports, we currently subscribe to 3 online media monitoring tools for near real time monitoring for our clients, but we do not allow the tools to generate reports for us because when measurement is built into a news monitoring platform the general metrics used can be a horrible reflection of your actual impact, Studies have revealed that automated measurement can be, at best, 55% accurate at times. So here you have to ask yourself, can I afford to be wrong almost half the time?

Philip Odiakose1

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Banking

Secure IT, StockMed, 18 Others Make Wema Bank Hackaholics 6.0 Top 20 List

Published

on

Wema Bank Hackaholics 6.0

By Modupe Gbadeyanka

The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.

The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.

The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.

They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.

They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.

The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.

In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.

The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.

After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.

“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.

“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.

“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.

“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.

“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.

Continue Reading

Banking

Customs to Penalise Banks for Delayed Revenue Remittance

Published

on

edo Revenue Collection

By Adedapo Adesanya

The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.

This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.

“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.

“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.

“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”

Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.

He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.

“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.

“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.

Continue Reading

Banking

First Bank Deputy MD Sells Off 11.8m First Holdco Shares Worth N366.9m

Published

on

ini ebong first bank

By Aduragbemi Omiyale

The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.

A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.

It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.

The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.

Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.

He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.

Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.

He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.

He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.

At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.

Continue Reading

Trending