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Chevron Nigeria Local Content Drive: A Credit to President Buhari and Dr. Pantami

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By Bode S. Ojerinde – Ph.D

I read with mixed feelings the piece on Chevron Nigeria and its firm belief and support for local content promotion, notably its many years of patronizing Zinox, an indigenous tech giant.

Mixed feelings because, on one hand, I was delighted and extremely proud of the management of Chevron Nigeria for shining the light, leading from the front and even showing the way to government, other sub-national entities in Nigeria, as well as the hordes of other multinationals operating in Nigeria.

The moving article equally made me proud to be a Nigerian because, most times, Nigeria makes the news for the wrong reasons owing to the actions of a misguided few. But to see a renowned, American-based multinational retaining a strong faith in the capacity of a Nigerian tech company, is something worth celebrating.

But on the other hand, the article also elicited some misgivings within me.
Here we are, hailing Chevron Nigeria, an American-headquartered multinational, for choosing a Nigerian brand ahead of other competing foreign brands, including a few known names from the country where it is based, but we can hardly find Nigerian government establishments and their agencies giving a similar fair chance to local businesses.

This was the biggest contradiction that hit me from that well-written article by a Nigerian US-based academic.

Thankfully, the company in question – Zinox – did not betray the trust reposed in it by Chevron Nigeria. It would have been a missed opportunity if Zinox had failed, maybe when it received the first supply contract from Chevron Nigeria, as I doubt that they would have had a second chance and that door would have been closed forever, even to other local players. Such is the merit-driven and highly competitive nature of the tech sector that it would have been virtually impossible for the management of Chevron Nigeria to consider entrusting its supply contract to Zinox for over 16 years without a strong justification.

We must begin to patronize and promote our best brains, rather than accord unnecessary privileges to foreigners. This is the only way we can employ our youths creatively and reduce security challenges confronting the nation.

I have not met Leo Stan Ekeh, the Chairman of the Zinox Group one-on-one but I have followed his landmark strides in the ICT sector. A huge inspiration, I recall when Haroun Adamu, a former Chairman of the Petroleum Trust Fund (PTF) described him at an event as a miracle child, a genius. He had told the story of how Leo Stan returned to Nigeria against the advice of his tutors in the UK, eventually leading the current wave of digital democracy that ushered the Nigerian printing and publishing industry into the next level by computerizing all the newspapers, magazines and book publishing establishments in the country.

According to him, Mr. Ekeh, who used to wear an afro back then as a young man, was like a pastor, an evangelist moving from city to city across Nigeria with a lot of energy, taking his message of digital evangelism to various parts of the country and transforming the landscape with his introduction of technology into the entire printing ecosystem.

Also, in 2001 or thereabouts, I was privileged to attend an oil servicing conference at Eko Le Meridien and during a short break, I was able to sneak into another event taking place at the same venue. The event, which had a long list of dignitaries, prominent Nigerians and even diplomats in attendance including the-then Vice President, Alhaji Atiku Abubakar, the Senate President at the time, Anyim Pius Anyim, many serving Ministers of the Federal Republic and Executive Governors, saw the hall packed full, with many people unable to even get in. That was the launch of Zinox and equally the first time I saw Mr. Ekeh from a distance.

I still recall the emotional gesture he made at that event which left many people in tears. Incidentally, it happened within the short period I spent in the hall. After tracing the history of Nigeria’s disadvantaged status as a country which many in the advanced world believe would not experience technology in the next 30 years, Mr. Ekeh had raised his right hand and declared that he was mentally, physically, financially and spiritually prepared to create an IT identity for Nigeria. That gesture got the hall charged and was a remarkable sight to behold. I left the place highly touched as I had to return to the conference I was attending. But that scene remained with me for a long time.

Same Zinox, a few years later, changed the face of Nigeria and other African countries’ elections by deploying digital democracy tools to aid the process.

Nigerian businessmen are not known to stick to one line of business. The majority are always on the lookout for the next big thing to invest in. However, Leo Stan is one man who has remained consistent in his chosen field of technology and his roadmap.
Therefore, it is hardly surprising that the same man, Leo Stan Ekeh backed by his team, has today achieved all he has in the tech sector.

It is gratifying, a sign of hope and a story that is worth telling, especially with the recent revelation of the long years of patronage from Chevron Nigeria, that this man has achieved so much with little or no support from government, still setting records, creating jobs and a bright future for millions of Nigerian youths.

I recall reading in the same article about Chevron Nigeria how well the administration of former President Olusegun Obasanjo supported local content drive. While I am aware that this was the case, government, at that time, was not really buying a lot of technology products as it was largely analogue in its processes.

There are thousands of Nigerians in the same technology sector who are struggling out there today. Many of them have quietly exited the sector after being unable to keep their heads above water. This brings into sharp relief the commendable efforts of Leo Stan as a shining light who has consistently built new successful businesses, while also expanding the Zinox Group for over 30 years. To see all these happen while not been able to count on the patronage of government is nothing short of a miracle.

Consequently, it was not strange when Zinox made the news early in 2018 with its acquisition of e-commerce brand, Konga. Nevertheless, many had queried the rationale behind Mr. Ekeh’s decision. For some, it was a suicide mission. I also understand that at that juncture, Konga was technically dead, as one of my cousins, who was a merchant trading with the business then, reliably informed me that, before the acquisition, the former managers of Konga had invited them to come and pick up their items warehoused with them. But a new story is being told about that e-commerce giant barely three years down the line. Today, that same Konga was recently reported to have broken a global e-commerce record, becoming the first African e-ecommerce company to turn profitable.

The Chevron Nigeria article represents another eye-opener and I wish to congratulate Zinox and, especially, Leo Stan Ekeh, for what he is building. He has done this for over 30 years without any hint of a scandal which is not an easy feat in a Nigerian business terrain that is prone to blackmail and betrayals. Perhaps, what has saved him from the minefield of subterfuge and the pull-him-down syndrome is the fact that many Nigerians are still analogue and Leo Stan is operating in a sector in which only a few Nigerians really understand.

I would equally like to appreciate the current administration led by President Muhammadu Buhari and the referenced Minister of Communications and Digital Economy, Dr. Ibrahim Pantami, a young man I admire, for their unequivocal commitment to Nigeria. I believe their clear signal is helping domestication in this sector and I advise other Ministers of the Federal Republic to emulate Dr. Pantami to create jobs for our educated youths and reduce security challenges caused by employment. I also urge them to concentrate some of their efforts in pushing our best talents forward.

Certainly, we must support and promote our best so that other emerging ones can be encouraged to outdo their feats, not only in the area of technology, but in other sectors as well. There have been a few surprises in the fintech sub-sector and in agriculture where some young Nigerians are leveraging technology in transforming the space.
However, there is no doubt that Nigeria lacks new model mentors and world class entrepreneurs in the mould of Leo Stan Ekeh.

The government must promote our best names, men and women whose rise to prominence is documented, people we know their background and their history and not fly-by-night entrepreneurs or undeserving foreigners.

It is by so doing that we can assure these patriotic/successful entrepreneurs of government’s support and encourage them to do more, inspire the next wave of budding entrepreneurs and contribute in building the Nigeria of our collective dreams.

Bode S. Ojerinde – Ph.D. wrote in from Lokoja, Kogi State


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Resolving The SIBAN Crisis

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By Barr. Mela Claude Ake

In my opinion, the SIBAN kerfuffle is as political as it is legal. We cannot divorce the two — but the legal aspect is far weightier.

Barr. Mela Claude Ake

On the political side is a power-grab. A small group of individuals who think they should be the lords and masters of Nigeria’s crypto space are fighting for control. They want control of SIBAN and they want control of the SIBAN presidency. Essentially a shadow administration that runs the show from behind the scenes. For this to happen, the president has to be a puppet. What they fail to understand is that being a pioneer of a vision doesn’t necessarily mean that you must control it in perpetuity. Succession-planning is a vital part of corporate governance. Across the world, several major organizations abound, whether they be companies, political parties, associations and even nations where the founders of these visions are alive but do not call the shots anymore and quite frankly, that’s okay.

Coming to the issue of registering SIBAN with the Corporate Affairs Commission, the detractors are doing themselves a huge disservice. It’s both ridiculous and risky that an unincorporated body was carrying on and presenting itself as it did. I mean think about it; how do you hold high-level meetings and organise national industry conversations involving the SEC, NITDA etcetera as an unregistered body? Legally speaking, the implications are better imagined.

How does a group present itself as the foremost industry association for the blockchain sector in Nigeria and by extension Africa but is not registered with the Corporate Affairs Commission? Whose bank account were the dues being paid to? How do you woo foreign investors? How? Do you show them your WhatsApp group? Because that’s essentially what SIBAN was reduced to. A mere Whatsapp group. Can you imagine the Nigeria Bar Association not being registered with the CAC? The excuse about organizations with words such as “Blockchain” or “Crypto” not being accepted for registration by the CAC is weak because there are records of such organizations having been allowed to be registered by the CAC even as far back as 2018. The records are out there.

Now that the detractors are wailing, kicking and screaming can they prove by law that SIBAN has not been properly incorporated by this board of trustees? Can they prove that this incorporation exercise did not satisfy the extant corporate laws and regulations of the Federal Republic of Nigeria? If they have a good case, they should go to court and remember to sue the Corporate Affairs Commission as well. However if they know they cannot prove it, then they should be quiet because what they are doing is simply inviting more trouble than necessary with all this brouhaha. People in glass houses shouldn’t throw stones.

It should be on record that I was invited by the president to join this board and when he extended the invitation, I was shocked, to say the least, to find out that SIBAN was yet unincorporated. I was invited because he believes I will bring some value to the association and I will.

As a lawyer and a compliance and consumer rights advocate I am personally concerned about the several sharp practices that have been happening in the blockchain sector, that have caused unwitting investors to lose millions and in turn making the entire sector appear less trustworthy. My mission as a member of the SIBAN Board of Trustees is to help us tighten the loose ends and remove the permissive environment that has hitherto allowed sleazy fellows and shady schemes to thrive unchecked. Personally, I believe that if any crypto practitioner wilfully puts investor funds or public funds at risk, the practitioner shouldn’t only be banned for life, they should be locked up.

SIBAN has what it takes to accelerate prosperity through blockchain and I think Obinna Iwuno and this BOT as currently constituted have the requisite skills, passion and grit to make that happen.

– Barr. Mela Claude Ake. Member, SIBAN Board Of Trustees


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Court Dismisses Echefu, TSTV CEO’s Bid to Stop Trial of Alleged N2Bn Fraud

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A Federal High Court in Abuja has dismissed a suit by Dr Bright Echefu, managing director/chief executive officer, Telcom Satellite Television Service (TSTV), with which he had sought to stop the Inspector General of Police (IGP) from investigating the allegation of N2 billion fraud against him.

Court Dismisses Echefu, TSTV CEO’s Bid to Stop Trial of Alleged N2Bn Fraud

Dr Bright Echefu, MD/CEO, TSTV

Kabiru Turaki (SAN), former minister of Special Duties, had, in a petition to the police, alleged among others , that his N2 billion investment in TSTV had been fraudulently diverted.

Upon being invited by the police for questioning, Echefu filed the suit marked: FHC/ABJ/CS/234/2024, praying that the IGP and his agents be restrained from conducting investigation into the case.

It was Echefu’s contention that the ex-Minister’s N2 billion investment was a civil transaction and the police have no power under any known laws to investigate such transactions.

He argued that the police cannot act as debt recovery agent for the normal complainant (Turaki).

In his judgment, Justice Inyang Ekwo held that the suit by Echefu was frivolous and lacking in merit.

Justice Ekwo held that it was wrong of the plaintiff to seek the court’s protection from being investigated over a petition against him on alleged stealing and misappropriation of N2bn investment in TSTV.

The judge was of the view that the allegations against Echefu related to stealing and misappropriating N2bn investment and not debt recovery drive as he erroneously claimed.

He held that the plaintiff failed to establish his claim that the N2b was in relation to civil transaction when the petition before the police alleged stealing and misappropriation of the fund invested in TSTV for its expansion.

Justice Ekwo faulted Echefu argument that the police have no power to investigate such petition against him.

He added that when a petition has the colour of stealing and misappropriating, the police are empowered under Section 4 of Police Act to inquire into such allegations.

The judge said: “The plaintiff (Echefu) has not denied being given the several sums of money by the 4th defendant (Kabiru Turaki) as investment in the companies mentioned in the averments in this case.

” The case made against the plaintiff (Echefu) is that of stealing and misappropriation. For the plaintiff to assert and actually sustain the assertion that this matter is contractual and that police cannot be involved, the onus is on the plaintiff to demonstrate with concrete evidence that there was no stealing and misappropriation.

“This is so because the mere claim that a relationship between the parties was and is contractual in nature is not a magic wand that will indiscriminately shield a person from being investigated on the allegations of criminal act arising from civil transaction”.

“To allow a plaintiff to coast home with the treasures of his loot on the grounds that such was contractual matter, will enhance a judicial victory for the undeserved.

“A citizen who is a victim of any act of crime, has right to make a report of same to the police and in the Nigerian system of administration of justice, when a crime is committed, it is the Nigerian police that moves in to investigate it.

“On the whole, the plaintiff has not given me any cogent ground to interfere in the exercise of the statutory power of the 1st and 2nd defendants (Police) on the petition by the 4th defendant (Turaki) that his investment has been stolen and misappropriated by the plaintiff.

“On this ground, I find that this action lacks merit and ought to be dismissed. I therefore make an order dismissing this case on those grounds,” he said.

Listed as defendants in the suit are the Nigeria Police Force, the IGP, the DIG Force Investigation Bureau, Turaki and the Attorney General of the Federation (AGF), who name the judge struck in the earlier part of the judgment as not being a necessary party.

 

 


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MultiChoice-Canal+ Approach Regulators with Merger Terms

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MultiChoice and Canal+ have given details of the next steps in Canal’s mandatory takeover of the South African pay-TV company.

MultiChoice-Canal+ Approach Regulators with Merger Terms

In a Combined Circular setting out the terms and conditions of the offer, it is confirmed Canal will acquire all the issued ordinary shares in MultiChoice it doesn’t already own, excluding treasury shares, from MultiChoice Shareholders for ZAR125.00 per share, payable in cash.

Canal+ and MultiChoice have now made a joint merger control filing to Competition Commission and are also engaging with the Independent Communications Authority of South Africa (ICASA) and other regulatory authorities.

Under the South Africa competition law, the transaction is classified as a ‘larger merger’, which requires approval by the Competition Tribunal.

MultiChoice officially accepted the offer from the Vivendi unit in June.

The combined company will have a presence in both the French and English-speaking markets. While Canal naturally has a hold over French-speaking African nations, MultiChoice has a stronger presence in English-speaking countries, including South Africa, Nigeria and Kenya.


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