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The Mentality of Winning

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By Austin Okere

I first wrote this article on April 03, 2017, exactly three years ago. I feel compelled to share it again, as I believe that it is even more relevant today in this challenging circumstance; where nothing short of Visionary Leadership and a deep sense of Community and Resilient Followership is needed to steer our nation along this rocky path and to the other side of the wave.

Austin Okere

“The thing about winning and losing is that they are both self-reinforcing.” …Austin Okere

The Gunners as a metaphor

As an Arsenal football club fan, how do I convince anybody that the team is good or that coach Arsene Wenger is doing a good job, given the long spate of trophy draught and inexplicable losses in the current season both in the English Premier league and the Champions league?

The mentality of winning and losing – the Tyson effect

Winning reinforces your self-confidence and instils an inherent mythical fear in your opponents. The whole team is energized and ready for the next win. Losing on the other hand, engenders a loss of confidence and a significant level of demystification, inviting all manner of opponents to fancy their chances at you, as happened when the erstwhile unbeatable heavyweight boxing champion, Mike Tyson lost to a lowly challenger, Buster Douglas in 1990 in Tokyo, Japan.

This was followed by a string of losses leading to a less glorious retirement, highlighted by his biting off the ear of an opponent, Evander Holyfield, during a boxing match. Thus, was dimmed a golden opportunity of going down in history as one of the greatest heavyweights of all time.

Reversing the pattern – Leicester City FC finds her magic

Taking the steps required to reverse your losing spree and shifting into a winning mentality restores your lost glory, seemingly obliterating the past string of losses e.g. Leicester City Football Club; after parting ways with coach Claudio Ranieri (ironically the same coach that propelled them to the dizzying heights of winning the English Premier League title last year) have suddenly become unstoppable again; beating the better rated Spanish side, Sevilla FC for a place in the Quarter Finals of the UEFA Champions League. Even as first timers, they are the only English team still flying the British flag where great teams such as Manchester City and Arsenal have crashed out.

Winning is ‘In spite of’; Losing is ‘because of’ – the Usain Bolt determination

A loser’s mentality is strongly underpinned by a culture of excuses; finding ‘very good’ reasons why you didn’t make it, or why you lost; as if this will magically convert the loss into a win. An earful of balderdash at best.

A winner’s mentality on the other hand, is centred on ‘making it’ in spite of all odds. A very good example being Usain Bolt, who not only holds the world record for the fastest human dead or alive, but also winning three gold medals in the 100m, 200m and 4X100m races in three consecutive Olympics; Beijing (2008), London (2012) and Rio (2016) – Now, that is a winner with a strong winning mentality.

Believe me, it is never a walk in the park. He knew what he had to do when overconfidence brought an embarrassing loss to his training partner and competitor Johan Blake. Blake beat Bolt to second place in both the 100m and 200m at the 2012 Olympic trials in Jamaica, and this was just about a month to the London Olympics.

Just imagine the pressure that Bolt would have felt. In the beginning he resorted to excuses; he blamed the 100m loss on a poor start, and the 200m on a poor bend. Realizing that a golden dream was evaporating before his eyes, he quickly faced reality in his following statement capturing his renewed attitude “it’s all about work and just needing to get my things together and get it right. I’ve got to get in the work and figure out what I did wrong”.

And with that he got himself in shape in time to win both events at the London Olympics. He did work very hard and deserved the results and his place in history (watch the documentary on him titled ‘I am Bolt’).

The Nigerian Super Eagles – Our ‘Invincible’ of old

I remember with nostalgia when all the immigration officers in the countries that I visited in the 1990’s became very friendly upon sighting my Nigerian Passport, reeling the names of our Super Eagle players and asking me if I knew them; Jay-Jay, Kanu, Amuneke, Keshi, Okewchukwu, Taribo, Oliseh, Rufia, Amokachie, Yekini, Siasia, Ikpeba and the host of others .

These were the glory days of Nigerian soccer, where other teams’ reverence of our players conferred on us very deep respect as a country. Not so these days; we have managed to get ourselves stuck in a losers’ mentality to the extent that ‘the giant of Africa’ did not even qualify for the last edition of the African Nations Cup in Gabon this year.

We managed to win the bronze medal at the Rio Olympics, but who remembers, after the unbelievable story of our players being stranded in America and arriving only hours before their opening match; what manner of organization?

The headlines in the global media were enough to make every Nigerian bow their heads in shame. The Mirror succinctly captured it thus “Nigerian Olympic football team stranded in Atlanta hours before first game after unpaid flight bill”.

You did not need to read the body of the copy to see how shoddy our organization could be. How can we aspire to Gold with this attitude?

We need the right attitude to aspire to greatness – the China and Dubai examples

Countries like the UAE did not attain their heights by sudden flight, but rather toiled over the midnight candle while other less ambitious ones floundered, more so the ones with more human and natural resources and much more potential. They have keyed into a certain winners’ mentality that sees them breaking record after record.

For instance, The Burj Khalifa in Dubai is the tallest building in the whole world. A trip to Dubai will convince you beyond doubt about how seriously they take themselves, and how seriously everybody takes them. China is another story. For over three decades, China has had the world’s fastest growing major economy.

The country is in the midst of urbanization on an unparalleled scale. With more than 1.3billion citizens, China is the world’s most populous country. Until the late 20th century, most of her citizens lived in rural areas. Within a 50-year span, the percentage of city-dwellers rose from 13 to 50%.

On a recent visit with my wife, we could only marvel at the scenic beauty of the West Lake area of Hangzhou, the capital of Zhejiang province. Our Chinese tour guide, Mr. Forrest informed us that the plan of the Government was to lift a third of the population into the millionaires club within the next 10 years.

Without power, we have not even started – the Murtala Mohammed Airport blues

Africa is called the Dark Continent for a reason; it is ‘literally’ pitch dark when you fly overhead at night, due to the dearth of electric power. The sound track of Lagos, and indeed many Nigerian cities is the din of generators coughing up smoke into the already polluted environment, making the ban on public smoking of tobacco quite superfluous.

From reliable reports, our International Gateway, Murtala Muhammed Airport (MMA) has had to rely on candle lights more than once, due to power outage (and unbelievably, failure of the Generator secondary source).

To tell it the way it is, MMA being the first and last impression of a visitor to Nigeria is either a misrepresentation, or a sad commentary on us as Nigerians. The non-functioning escalators over many years, projects us as a set of very unserious people.

How complex is the technology and what will it take to fix it? The drive from the airport to the foot of the Third Mainland Bridge that takes you into the commercial business districts of Victoria and Lagos Islands could qualify as one of the most uninspiring airport rides in the world – again, can this not be fixed; Really? A famous Irish proverb that says ‘nodding the head does not row the boat’ seems to sum this up.

Are we passionate about our country – should we be?

Is it true that passion is something you value more than your life? Something you are willing to die for? If so, are we passionate about Nigeria? Should we be? Are other nationals passionate about their countries? Growing up in Ghana, my motherland, I really felt very passionate about her, as I believe were the sentiments shared by my other classmates.

The Chinese, Japanese, Europeans, Americans and all the places we love to flock to are very passionate about their countries and will gladly use their talents to help her to win; be it at the Olympics or the World Cup.

Many a times our Athletes and Players have made money a precondition; and who can blame them? The experience seems to suggest that the officials bail with the money immediately after the games. The objective all round seems to be the money rather than the glory for country.

Epilogue – where we should be headed

As a country, we have the complete ingredients for success; human, mineral and material resources in abundance. What we need are people that can dream and turn the dream into an executable plan. Execute and live the dream. Dubai has proved this theory, we just need to follow the path to success.

We have to strongly shun the temptation to try to ‘win by shortcuts’. Imagine that Nigerians lost a whooping N18b ($45m) to the MMM Ponzi scheme, despite many warnings by the Central bank.

This is not the first time and unlikely to be the last time we embark on such get-rich-quick misadventure. We flock to all manner of religious centres and shrines looking for money doubling miracles instead of putting in brainpower and manpower towards our endeavours.

As Mary Robinson said, nobody can go back to create a new beginning but anybody can start today to create a new ending. This is what we must do as a country. Everybody needs to put in the disciplined hard work and dig into our inner recesses to find our own winning ways! We need to start in earnest to develop and sustain the serious mentality of a winner.

We need to genuinely create an enabling environment underpinned by peace and security that nurtures prosperity for all, rather than all for a cabal.

This is our chance – the tide in the affairs of Nations

“There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now afloat, And we must take the current when it serves, Or lose our ventures”. This is the admonition of Brutus to Cassius in William Shakespeare’s epic, Julius Caesar.

Nigeria today is presented with such an opportunity. The current economic challenges after decades of squander and squalor have presented us with the golden opportunity of a reality check devoid of the distractions of easy oil money. This difficult period is too painful to waste. We must seize the opportunity for a reawakening, and realign towards doing the right thing and cultivating a winning mentality. If not now, then when? If CWGnot you, who?

Austin Okere is the Founder of CWG Plc, the largest ICT Company on the Nigerian Stock Exchange & Entrepreneur in Residence at CBS, New York. Austin also serves on the Advisory Board of the Global Business School Network, and on the World Economic Forum Global Agenda Council on Innovation and Intrapreneurship. Austin now runs the Ausso Leadership Academy focused on Business and Entrepreneurial Mentorship


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NIA Questions Legality of Reps’ Financial Probe

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The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.

In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.

It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.

The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.

In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.

“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.

“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.

“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”

Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.

“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.

17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.


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Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

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Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).

Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.

“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.

She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,

Learning through experience

Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.

Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.

Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.

Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.

World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.

The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.

The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.


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CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

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Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.

Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.

The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.

It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.

Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.

He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.

According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.

“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.

“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”

The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.

He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.

Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.

“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.

“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.

“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.

The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.

All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.


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