Feature/OPED
Seyi Bickersteth: For or Against Diamond Bank’s Minority Shareholders?
Over the past few weeks, Diamond Bank has been enmeshed in various dramas and just when it seemed that the bank had risen from the storms and was on an upward trajectory, a new twist emerged when Mr Bickersteth, one of the ex-directors that resigned from the bank made some allegations against the management of the bank.
Mr Bickersteth is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation of Nigeria (CITN) and has served as Chief Executive Officer at KPMG Professional Services Limited.
There is a popular maxim that says “He who comes into equity must come with clean hands.” Mr Bickersteth also served for a time on the board of ARM Holding company (Asset Resource Management) and it is rumoured that his exit was shrouded with allegations of improper conduct. What exactly took him off the board of ARM? A quick search of his profile online does not list his time at ARM under his biography. The CBN similarly appointed him to the board of 9mobile (formerly Etisalat) and till date, we are yet to see how well that has fared so far.
The former minister of petroleum, Mrs Diezani Alison-Madueke, likewise appointed Mr Bickersteth to a special committee to oversee the Petroleum Industry Bill (PIB) during her tenure. The brazen allegations of corruption and mismanagement carried out under her watch has since been exposed and is currently the subject of international probes and is being investigated by the courts even now.
His involvement with Diamond Bank started when he was appointed as an Independent Non-Executive Director in Diamond Bank on June 26, 2018 and resigned in October of the same year. He has denied his resignation, claiming that he did not resign but was forced out but investigations reveal this as a falsehood. There is evidence that he did resign and his letter was forwarded to the appropriate regulatory authorities. His denial of his resignation brings to question his motives.
Mr Bickersteth’s actions after his resignation have been questionable to say the least. This leads one to wonder, is he acting out a sinister agenda hatched out by some people? He has tried to portray himself as a saint yet his actions run contrary to this image and depict that of a person on a mission to bring down an institution with a well-established name and history.
As a professional who has worked at executive level at a highly reputable consulting firm, if there were issues with Diamond Bank should he not have approached the regulator and tabled his matters rather than sending or leaking letters to the press, engaging in interviews that have only served to sully the brand name of an organization he was chosen to serve?
He has embarked on a campaign of calumny against the bank alleging all sorts of allegations and claims against the management. In one of his attacks, he wrote a letter where he stated that “My overall and irrevocable interest remains ensuring the reversal of the declining fortunes of DIAMONDBANK, as well as ensuring that no party, however and wherever placed, threatens the survival of Diamond Bank”.
Curiously however, financial and market analysts maintain that before his recent attacks against the bank, Diamond Bank shares were actually on the upswing and rose by 57% in five days after its announcement of CBN’s approval of its application to operate as a national bank in line with its “objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market, and economy as a whole.”
Barely had shareholders begun to heave a sigh of relief and analysts start to look through the positivity of this new development as reflected in the new Capital Adequacy Ratio (CAR) of Diamond Bank with Financial experts lauding the move as an indication that its management is strengthening its domestic competition and boosting its earnings at the same time creating value for its shareholders, when another letter hit the media and public again.
Mr Bickersteth’s actions seem in direct contradiction to what he claimed in his letter. He claims to be acting in the interest of the bank and its shareholders yet his actions have directly led to a drop in share price which will adversely impact on the shareholders. Investigations have also revealed that before his resignation, Mr Bickersteth was appointed to the Diamond Bank board on the recommendation of a majority shareholder in Diamond Bank yet his actions are running contrary to the interest of the group. Sources even say that the CBN had questioned his independence on the board of Diamond Bank. This begs the question, in whose interest is Mr Bickersteth acting and why is he crying louder than the majority shareholders who have maintained a dignified silence in the face of his rants and accusations. In the past few months, the value of the shares of Diamond bank has dropped dramatically following all these board shenanigans.
So exactly whose side is he on? From a neutral standpoint, it appears that the Diamond Bank brand is being dragged through the mud, in trying to “protect” the interest of the business, the staff and shareholders have watched helplessly as their beloved business is maligned in letters and statements leaked to the press. Is this the best way to go?
Is Mr Bickersteth’s buttons being pushed by a group of people that are threatened by the rising potential of Diamond Bank and are seeking to ruin its upward trajectory by any means or are his attacks based on a more personal reason? Why is Mr Bickersteth the only one of the Directors that resigned the one making all the accusations and trying to tarnish the banks image? After all, there are three board directors who resigned at the same time that he did and these people have not in any way corroborated his misinformation and have distanced themselves from him and his actions. These are some of the questions that these silent sufferers would want to ask the erstwhile chairman.
Feature/OPED
How Christians Can Stay Connected to Their Faith During This Lenten Period
It’s that time of year again, when Christians come together in fasting and prayer. Whether observing the traditional Lent or entering a focused period of reflection, it’s a chance to connect more deeply with God, and for many, this season even sets the tone for the year ahead.
Of course, staying focused isn’t always easy. Life has a way of throwing distractions your way, a nosy neighbour, a bus driver who refuses to give you your change, or that colleague testing your patience. Keeping your peace takes intention, and turning off the noise and staying on course requires an act of devotion.
Fasting is meant to create a quiet space in your life, but if that space isn’t filled with something meaningful, old habits can creep back in. Sustaining that focus requires reinforcement beyond physical gatherings, and one way to do so is to tune in to faith-based programming to remain spiritually aligned throughout the period and beyond.
On GOtv, Christian channels such as Dove TV channel 113, Faith TV and Trace Gospel provide sermons, worship experiences and teachings that echo what is being practised in churches across the country.
From intentional conversations on Faith TV on GOtv channel 110 to true worship on Trace Gospel on channel 47, these channels provide nurturing content rooted in biblical teaching, worship, and life application. Viewers are met with inspiring sermons, reflections on scripture, and worship sessions that help form a rhythm of devotion. During fasting periods, this kind of consistent spiritual input becomes a source of encouragement, helping believers stay anchored in prayer and mindful of God’s presence throughout their daily routines.
To catch all these channels and more, simply subscribe, upgrade, or reconnect by downloading the MyGOtv App or dialling *288#. You can also stream anytime with the GOtv Stream App.
Plus, with the We Got You offer, available until 28th February 2026, subscribers automatically upgrade to the next package at no extra cost, giving you access to more channels this season.
Feature/OPED
Turning Stolen Hardware into a Data Dead-End
By Apu Pavithran
In Johannesburg, the “city of gold,” the most valuable resource being mined isn’t underground; it’s in the pockets of your employees.
With an average of 189 cellphones reported stolen daily in South Africa, Gauteng province has become the hub of a growing enterprise risk landscape.
For IT leaders across the continent, a “lost phone” is rarely a matter of a misplaced device. It is frequently the result of a coordinated “snatch and grab,” where the hardware is incidental, and corporate data is the true objective.
Industry reports show that 68% of company-owned device breaches stem from lost or stolen hardware. In this context, treating mobile security as a “nice-to-have” insurance policy is no longer an option. It must function as an operational control designed for inevitability.
In the City of Gold, Data Is the Real Prize
When a fintech agent’s device vanishes, the $300 handset cost is a rounding error. The real exposure lies in what that device represents: authorised access to enterprise systems, financial tools, customer data, and internal networks.
Attackers typically pursue one of two outcomes: a quick wipe for resale on the secondary market or, far more dangerously, a deep dive into corporate apps to extract liquid assets or sellable data.
Clearly, many organisations operate under the dangerous assumption that default manufacturer security is sufficient. In reality, a PIN or fingerprint is a flimsy barrier if a device is misconfigured or snatched while unlocked. Once an attacker gets in, they aren’t just holding a phone; they are holding the keys to copy data, reset passwords, or even access admin tools.
The risk intensifies when identity-verification systems are tied directly to the compromised device. Multi-Factor Authentication (MFA), widely regarded as a gold standard, can become a vulnerability if the authentication factor and the primary access point reside on the same compromised device. In such cases, the attacker may not just have a phone; they now have a valid digital identity.
The exposure does not end at authentication. It expands with the structure of the modern workforce.
65% of African SMEs and startups now operate distributed teams. The Bring Your Own Device (BYOD) culture has left many IT departments blind to the health of their fleet, as personal devices may be outdated or jailbroken without any easy way to know.
Device theft is not new in Africa. High-profile incidents, including stolen government hardware, reinforce a simple truth: physical loss is inevitable. The real measure of resilience is whether that loss has any residual value. You may not stop the theft. But you can eliminate the reward.
Theft Is Inevitable, Exposure is Not
If theft cannot always be prevented, systems must be designed so that stolen devices yield nothing of consequence. This shift requires structured, automated controls designed to contain risk the moment loss occurs.
Develop an Incident Response Plan (IRP)
The moment a device is reported missing, predefined actions should trigger automatically: access revocation, session termination, credential reset and remote lock or wipe.
However, such technical playbooks are only as fast as the people who trigger them. Employees must be trained as the first line of defence —not just in the use of strong PINs and biometrics, but in the critical culture of immediate reporting. In high-risk environments, containment windows are measured in minutes, not hours.
Audit and Monitor the Fleet Regularly
Control begins with visibility. Without a continuous, comprehensive audit, IT teams are left responding to incidents after damage has occurred.
Opting for tools like Endpoint Detection and Response (EDR) allows IT teams to spot subtle, suspicious activities or unusual access attempts that signal a compromised device.
Review Device Security Policies
Security controls must be enforced at the management layer, not left to user discretion. Encryption, patch updates and screen-lock policies should be mandatory across corporate devices.
In BYOD environments, ownership-aware policies are essential. Corporate data must remain governed by enterprise controls regardless of device ownership.
Decouple Identity from the Device
Legacy SMS-based authentication models introduce avoidable risk when the authentication channel resides on the compromised handset. Stronger identity models, including hardware tokens, reduce this dependency.
At the same time, native anti-theft features introduced by Apple and Google, such as behavioural theft detection and enforced security delays, add valuable defensive layers. These controls should be embedded into enterprise baselines rather than treated as optional enhancements.
When Stolen Hardware Becomes Worthless
With POPIA penalties now reaching up to R10 million or a decade of imprisonment for serious data loss offences, the Information Regulator has made one thing clear: liability is strict, and the financial fallout is absolute. Yet, a PwC survey reveals a staggering gap: only 28% of South African organisations are prioritising proactive security over reactive firefighting.
At the same time, the continent is battling a massive cybersecurity skills shortage. Enterprises simply do not have the boots on the ground to manually patch every vulnerability or chase every “lost” terminal. In this climate, the only viable path is to automate the defence of your data.
Modern mobile device management (MDM) platforms provide this automation layer.
In field operations, “where” is the first indicator of “what.” If a tablet assigned to a Cape Town district suddenly pings on a highway heading out of the city, you don’t need a notification an hour later—you need an immediate response. An effective MDM system offers geofencing capabilities, automatically triggering a remote lock when devices breach predefined zones.
On Supervised iOS and Android Enterprise devices, enforced Factory Reset Protection (FRP) ensures that even after a forced wipe, the device cannot be reactivated without organisational credentials, eliminating resale value.
For BYOD environments, we cannot ignore the fear that corporate oversight equates to a digital invasion of personal lives. However, containerization through managed Work Profiles creates a secure boundary between corporate and personal data. This enables selective wipe capabilities, removing enterprise assets without intruding on personal privacy.
When integrated with identity providers, device posture and user identity can be evaluated together through multi-condition compliance rules. Access can then be granted, restricted, or revoked based on real-time risk signals.
Platforms built around unified endpoint management and identity integration enable this model of control. At Hexnode, this convergence of device governance and identity enforcement forms the foundation of a proactive security mandate. It transforms mobile fleets from distributed risk points into centrally controlled assets.
In high-risk environments, security cannot be passive. The goal is not recovery. It is irrelevant, ensuring that once a device leaves authorised hands, it holds no data, no identity leverage, and no operational value.
Apu Pavithran is the CEO and founder of Hexnode
Feature/OPED
Daniel Koussou Highlights Self-Awareness as Key to Business Success
By Adedapo Adesanya
At a time when young entrepreneurs are reshaping global industries—including the traditionally capital-intensive oil and gas sector—Ambassador Daniel Koussou has emerged as a compelling example of how resilience, strategic foresight, and disciplined execution can transform modest beginnings into a thriving business conglomerate.
Koussou, who is the chairman of the Nigeria Chapter of the International Human Rights Observatory-Africa (IHRO-Africa), currently heads the Committee on Economic Diplomacy, Trade and Investment for the forum’s Nigeria chapter. He is one of the young entrepreneurs instilling a culture of nation-building and leadership dynamics that are key to the nation’s transformation in the new millennium.
The entrepreneurial landscape in Nigeria is rapidly evolving, with leaders like Koussou paving the way for innovation and growth, and changing the face of the global business climate. Being enthusiastic about entrepreneurship, Koussou notes that “the best thing that can happen to any entrepreneur is to start chasing their dreams as early as possible. One of the first things I realised in life is self-awareness. If you want to connect the dots, you must start early and know your purpose.”
Successful business people are passionate about their business and stubbornly driven to succeed. Koussou stresses the importance of persistence and resilience. He says he realised early that he had a ‘calling’ and pursued it with all his strength, “working long weekends and into the night, giving up all but necessary expenditures, and pressing on through severe setbacks.”
However, he clarifies that what accounted for an early success is not just tenacity but also the ability to adapt, to recognise and respond to rapidly changing markets and unexpected events.
Ambassador Koussou is the CEO of Dau-O GIK Oil and Gas Limited, an indigenous oil and natural gas company with a global outlook, delivering solutions that power industries, strengthen communities, and fuel progress. The firm’s operations span exploration, production, refining, and distribution.
Recognising the value of strategic alliances, Koussou partners with business like-minds, a move that significantly bolsters Dau-O GIK’s credibility and capacity in the oil industry. This partnership exemplifies the importance of building strong networks and collaborations.
The astute businessman, who was recently nominated by the African Union’s Agenda 2063 as AU Special Envoy on Oil and Gas (Continental), admonishes young entrepreneurs to be disciplined and firm in their decision-making, a quality he attributed to his success as a player in the oil and gas sector. By embracing opportunities, building strong partnerships, and maintaining a commitment to excellence, Koussou has not only achieved personal success but has also set a benchmark for future generations of African entrepreneurs.
His journey serves as a powerful reminder that with determination and vision, success is within reach.
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