By Ahmed Rahma
As more youth embrace entrepreneurship to resolve the country’s unemployment challenge, a non-profitable organisation, Fate Foundation, is launching a handbook series to provide business owners with practical resources to compete in the business climate.
The book titled The Nigerian Entrepreneurs’ Handbook, published by A’Lime Media Limited, is part of several programmes to commemorate two decades of FATE.
FATE Foundation was established by Mr Fola Adeola in 2000 with the mission to foster wealth creation by promoting business and entrepreneurial development among Nigerians through the key focus areas of enterprise training and business incubation; growth and advisory enterprise support; sector accelerator support; research policy dialogue and policy advocacy.
According to the FATE Foundation, “The handbook is set to provide entrepreneurs with practical resources required to compete favourably in the Nigerian business climate.”
Over the years, FATE Foundation has launched targeted schemes geared towards revitalising the Nigerian entrepreneurial space and equipping entrepreneurs with knowledge, skills, and network to survive and thrive.
Twenty years in, the organisation has built an institutional legacy of enterprise development that has and continues to have a significant socio-economic impact for Nigerian entrepreneurs and the entrepreneurship ecosystem at large.
Speaking of the book, the Executive Director of FATE Foundation, Adenike Adeyemi, explained that, “This handbook series aims to provide Nigerian entrepreneurs wit simplified insight and practical insights on how to grow a thriving enterprise in the challenging Nigerian business environment.”
The foundation will be presenting a series of high-level virtual programmes spanning five days from December 2020 starting with the launch of the Fate Foundation story documentary; ecosystem policy dialogue and design workshop; signature Annual Celebration programme to graduate entrepreneurs enrolled in the year; award prizes to worthy volunteers and entrepreneurs and also launch FATE Insights, a multi-part documentary series on major industries of the Nigerian economy featuring alumni and ex-faculty members of the foundation that deep dive into the sectors, highlights challenges and opportunities using the successes and pitfalls of key stakeholders and leading brands and draw insightful pointers and learnings for current and future entrepreneurs with keen interests.
Alongside these programmes, FATE Foundation will also launch a 7-part entrepreneurship handbook series that cuts across seven key areas of Financial Management, Digital Technology, Marketing & Communication, Human Capital, Tax Management, Legal and Strategy.
Each book features contributions from prominent C-level executives, top-notch business owners and prominent entrepreneurial leaders.
The books are also a combination of text, infographics, illustrations, pictures and diagrams to deliver content that will guarantee a quality reading experience.
The content partners for the handbook series include ACCA, Verakki Partners, A’Lime Media Limited, Stresert Services Limited, Deloitte, Banwo and Ighodalo and KPMG Nigeria.
EFCC Goes After Car Dealers, Real Estate Agents, Others
By Modupe Gbadeyanka
The Chairman of Economic and Financial Crimes Commission (EFCC), Mr Abdularasheed Bawa, has hinted that a searchlight will be beamed on car dealers, jewellery sellers, real estate agents and others.
The anti-money laundering agency, while addressing newsmen in Abuja on Thursday, disclosed that evidence has shown that these set of people use proceeds of corruption for their business transactions.
He said the EFCC was working on a number of proactive strategies including a special control unit against money laundering, established particularly to address non-designated financial institutions including car dealers, real estate, jewellery dealers, among others.
Mr Bawa said that he was confident that when the unit is fully established, corruption will significantly decline in the country.
He added that the agency was equally working towards the development of a biometric ownership database to address money laundering.
According to him, most proceeds of crime are laundered through real estate and have become a huge challenge, giving examples of property acquired especially in Lagos, Abuja, and Port Harcourt where billions of naira were laundered through this means.
He, however, declined to disclose actual perpetrators or the properties involved but revealed that since his assumption, a number of recoveries have been made including N6 billion, $161 million, £13,000, €1,730, among others.
He further said internet fraudsters numbering 1,502 have also been apprehended between January and June 2021, noting that efforts were underway to file about 800 of them.
Mr Bawa was at the Presidential Villa yesterday to clarify the specific Minister involved in the laundering of about $37 million into real estate to which he referred in his earlier statement.
He said the matter was an old case involving a former Minister of Petroleum, Ms Allison Diezani Madueke.
KedCo Warns Customers Against Meter Bypass
By Adedapo Adesanya
The management of Kano Electricity Distribution Company (KEDCO) has cautioned customers in its franchise areas against meter bypass as it intensifies efforts in meter installation.
According to a statement by KEDCO’s Head of Corporate Communications, Mr Ibrahim Sani Shawai, “the warning had become necessary as a way of ensuring that renewed efforts at speeding up metering are not sabotaged.
“Anyone caught bypassing our meters would not be spared as we will go all out within the provisions of the law of the land to ensure that violators are made to pay penalty after prosecution.
“We are speeding up processes to ensure that 87,747 meters are installed by the end of the month under the zero phase.
“We have met with all vendors and mandated them to increase manpower to ensure speedy deployment and installation of meters to customers.
“We appeal to our numerous customers to give vendors the necessary cooperation to ensure that estimated billing system is brought to an end in KEDCO franchise within the shortest time possible.”
The distribution company had recently warned customers against meter apathy as it observed that some customers were deliberately refusing to get metered, which it considers unacceptable.
KEDCO is one of the major Nigerian electricity distribution companies. KEDCO operates in the northwestern geopolitical zone of Nigeria and generates, distributes and markets electricity in three states. It covers the franchise states of Kano, Katsina and Jigawa.
Navy Seizes 251 Bags of Smuggled Rice in Akwa Ibom
By Adedapo Adesanya
The Nigerian Navy, Forward Operating Base (FOB), Ibaka, Mbo Local Government Area of Akwa Ibom has impounded 251 bags of rice smuggled through the waterways.
The Commanding Officer of FOB, Navy Captain Suleiman Abdullahi, disclosed this in Ibaka on Thursday when he handed over the bags of contrabands to the Nigeria Customs Service (NCS).
He said that the 251 bags of rice were seized from smugglers on June 15 during routine patrol operations by the unit, explaining that the suspects abandoned the rice and the boat and fled on sighting the naval patrol team, emphasising that the Base would not relent in putting an end to illegalities on the Akwa Ibom waterways.
“What you are witnessing here today is the handover of 251 bags of rice suspected to be smuggled into the Nigerian maritime border.
“By the directive of the Flag Officer, Eastern Naval Command, Rear Admiral Sanusi Ibrahim, we have zero tolerance for smuggling.
“By the directive, we have carried out intensive patrol and on June 15, 2021, we seized one wooden boat and 251 bags of smuggled rice.
“On sighting the patrol team, the smugglers abandoned the rice inside the boat and flee to escape arrest.
This is an indication of their awareness of the crime perpetrated by these suspects for them to have abandoned their boat and flee,” Mr Abdullahi said.
The commanding officer warned smugglers to relocate out of the Nigerian maritime borders, stressing that it would not be business as usual for them.
He urged them to desist from smuggling and other illegal businesses, but they should engage in legitimate endeavours.
“I will like to use this opportunity to warn those maritime criminals that it is not going to be business as usual.
“That they should desist from their criminal ways and engage in genuine business, otherwise the long arm of the law will catch up on them,” he said.
Receiving the 251 bags of rice on behalf of the customs, the Comptroller of Sector 1, Port Harcourt, Mr Shehu Abubakar, said the agency would do everything possible to stop smuggling in the country.
Mr Abubakar, who was represented by the Superintendent of Customs, Border Drill Patrol Team, Oron Axis, Mr Mustapha Ahmed, warned smugglers to desist from the illegal trade, stressing that the organisation would continue to checkmate all economic sabotage in the country.
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