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CONTENTS STAYING THE COURSE LBS NEWS
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COVER STORY 20 CLASS REUNION 2017 28 PRESIDENT’S DINNER 30 SPEED NETWORKING EVENT 34 FROM THE ZONES 36 Editor: Bunmi Afolabi
Deputy editor: Dianabasi Akpainyang
Editorial adviser: Aderayo Bankole All correspondence go to:
Bunmi Afolabi, Director Alumni Relations, Lagos Business School.
Km22, Lekki Epe Expressway, Ajah, Lagos. P.O.Box 73688, Victoria Island, Lagos.
Email: oafolabi@lbs.edu.Ng
Direct line: 0902 666 6640 Design & production:
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HOW PRODUCTIVE ARE YOUR MEETINGS 46 TOP TEN REASONS WHY YOU SHOULD AUTOMATE YOUR BUSINESS PROCESSES 49 ALUMNI IN THE NEWS 51 CLASS NOTES 54 GUIDE TO ALUMNI MEMBERSHIP BENEFITS 59 CALENDAR OF EVENTS 65
TAYING TH OURSE 4 |
Staying the Course I am heaving a big sigh of relief as I write this. 2017 has been a long year in many respects. I am glad it is finally winding down. It has been quite an eventful year, no doubt. As I think back over our Alumni Relations activities during the year, I am glad to see the progress we have made and the positive impact that we have made as testified by alumni members. The Alumni Relations team have had to dig its feet in to achieve what we have. We have had to “stay the course”. All this led me to think about what is required to remain steady and steadfast as we pursue our various individual and corporate goals. Three words sprung to mind: 1. Sacrifice (verb) – give up something valued for the sake of other considerations 2. Resilience – The property of a material that enables it to resume its original shape or position after being bent, stretched, or compressed; elasticity 3. Consistency (noun) – Logical agreement among parts Achieving set goals requires all the above elements. John Maxwell talks about the Law of the Big Picture. Sacrifice is required when we consider the big picture. It is often tempting to take short-term wins and run with them at the expense of the bigger goal. One must also sacrifice gratification, or at least delay it if one is to achieve something meaningful and lasting. It is about long-term impact, rather than short-term gains. The need for consistency applies to a team or an organisation as much as it applies to the individual. Even for your personal goals, if you have dreamed big enough there will be some element of sacrifice needed in the short term as you work towards the main prize. Nigerians are said to be quite resilient. We have endured various shocks and hardships in the last couple of years and, yet we somehow kept going on in spite of those twists and turns in our journey. That resilience seems to be decreasing when one considers the increase in suicide rates in the last year. Nevertheless, most people seem to have that ability to bounce back. As we pursue our goals, there will be all kinds of setbacks and delays and unplanned incidences. The “bounce back” factor enables us to continue doing whatever
I like the definition of consistency as a "logical agreement between parts". In any endeavour, there will be several moving parts, but they must all make some sense and tie into the bigger picture. There must be some sense in the seeming chaos of daily deadlines and activities. If you cannot identify how any one activity furthers the overall objective, you will need to reassess the need for that activity. I also like the fact that the definition talks about a logical agreement. There is a place for gut feelings and emotional intelligence in decision making. Logic, however, is still the first criteria. We may temper some decisions based on gut feeling or emotional intelligence, but that should not be the primary and constant basis for decision making. Organisations spend lots of money to gather data and analyse it. There is a reason for this. As we wind down 2017 and prepare for 2018, let’s make up our minds to stay the course. Whatever has happened this year, do not lose hope. There is a world of opportunity to take advantage of, but it will not happen overnight. Dig your heels in and keep working it. Your season of harvest will come. Let me use this opportunity to wish everyone compliments of the season and a happy new year in advance. Please do stay connected with the alumni body in the coming year. Participate in our various activities. We will be introducing live streaming and utilising social media a lot more in our quest to keep you connected with the school and the bigger alumni body in 2018. If you are not signed up on Alumni Connect (http://lbsalumniconnect. com) yet, now is the time to get on board. It's also available as an app on both Apple and Google Play stores. There is no excuse not to get connected.
We announced the formation of affinity groups at the beginning of the year. That would have happened by the time you read this. We are starting off with groups for Agriculture, Finance, Real Estate and Technology. Join any of the groups that are relevant to you. We hope this provides an extra layer of value to our members, but we need everyone to contribute to making it so. Thank you to all our advertisers, sponsors, partners and those who consistently support our Alumni Relations efforts in various ways. We could not do it without you. We are grateful. Keep hope alive! Stay the course! Don’t give up! Bunmi Afolabi oafolabi@lbs.edu.ng
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we are doing. We adjust, recalculate, reroute, do whatever is needed; but continuing the journey is non-negotiable. We must also surround ourselves with people who can encourage and inspire us during the times when we are tempted to throw in the towel. At times like this, continuous learning plays a role. It is one of the reasons our alumni sessions continue to be valuable to our members. I believe that short bouts of learning and the interactions that happen when we take time out like that is key to rekindling the fire in our belly. Even if the fire is still burning, it is always good to fan the flames with times of “learning refreshment”.
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LBS NEWS
LAGOS BUSINESS SCHOOL CO-CURATES THE NIGERIAN TRANSFORMATIONAL MAP WITH THE WORLD ECONOMIC FORUM
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igeria is undeniably one of the largest economies on the continent of Africa. In order to identify the factors that shape this great nation, the World Economic Forum (WEF) approached faculty members of Lagos Business School to co-curate the Nigerian Transformational Map.
These faculty members are Dr. Franklin Ngwu, Strategy; Dr. Yinka David – West, Management Information systems and Dr. Ndidi Nnolie Edozien, Strategy. The Nigerian Transformational Map highlights five key issues challenging the growth of the Nigerian economy. The issues highlighted include Infra-
structural development; Youth Unemployment; Internal Insecurity; Good Governance and Human Capital. Speaking on the significance of the report to Lagos Business School, Dr. Ngwu notes that it puts LBS on a global map and it affirms the aims of LBS to keep contributing to a better society.
LBS PARTNERS AFC FOR STRATEGIC BUSINESS DEVELOPMENT PROGRAMME
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frica Finance Corporation (AFC) is partnering with Lagos Business School (LBS) to deliver an intensive Strategic Business Development Programme for Analysts, Associates, and Senior Associates. The Strategic Business Development Programme (SBDP) is borne out of the need to invest in employees, preparing
them for enhanced management responsibilities. The objective of the programme is to introduce participants to core business principles and skills in general management functions, supporting them in taking their performance to a higher level. The SBDP will deliver relevant subject issues and powerful tools that they can apply in the workplace.
LBS WELCOMES EXCHANGE PARTICIPANTS FROM KENYA AND ADVANCED MANAGEMENT PROGRAMME – AMP 30
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agos Business School hosted a exchange participants from Strathmore Business School in Nairobi, Kenya, as well as participants from the 30th edition of the Advanced Management Programme (AMP 30) on Monday, May 8, 2017. In line with the student exchange partnership between Lagos Business School (LBS) and Strathmore Business School (SBS); Owner Manager’s Programme participants from SBS joined the 24th edition of the Owner
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Manager Programme (OMP 24) class for a week of intensive learning. The exchange participants expressed high expectations of their programme and stay at LBS. Catherine Masitsa, CEO and Founder, Samantha’s Bridal, notes that LBS is a quality provider of executive education. “I am here from Strathmore Business School in Nairobi; I believe LBS has established itself as a leader in executive education. LBS has a lot of references, and I hope me being here will
give me the skills and knowledge needed to allow me to run a better and more profitable business” she said. LBS has student exchange agreements with various business schools worldwide. They include; IPADE Business School, IESEG School of Management, University of Stellenbosch Business School, Indian Institute of Management Ahmedabad, Graduate School of Business, University of Cape Town, IESE Business School and Bocconi University.
LAGOS BUSINESS SCHOOL MAINTAINS FINANCIAL TIMES RANKING AS TOP BUSINESS SCHOOL
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agos Business School has once again been ranked as a top global school by the Financial Times (FT). This is LBS' eleventh consecutive appearance in the annual ranking of top business and management education providers in the world done by FT. According to the FT's Executive Education 2017 ranking published in London on Monday, May 15, 2017, LBS is ranked among the most prestigious
business schools globally in two categories: open enrollment and customs executive education. The Lagos Business School is one of only four schools in Africa that made the prestigious list. Dean of LBS, Dr. Enase Okonedo in her remarks, reiterated the commitment of the School to providing global standard business and management education. "The FT ranking is further recognition of our continuous efforts
at providing worldclass business and management education with local relevance to Nigeria and Africa. Our business school's determination for excellence has also recently been recognized by our accreditation by the Association to Advance Collegiate Schools of Business (AACSB) and the Association of MBA's (AMBA)."
AFRICA RISING – LBS HOSTS PREMIER OF GAUTENG, SOUTH AFRICA
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he Premier of Gauteng, South Africa, David Makhura, visited Lagos Business School (LBS) on Friday, June 2, 2017, and was welcomed by members of the Management Board and faculty. Dr. Uchenna Uzo, MBA Director, Lagos Business School in his welcome address stated that the visit was in line with the objective of developing responsible leaders for Africa and the world. He explained that such visits would expose the LBS MBA students (future African business leaders) to Pan-African perspectives of business, cross-border opportunities, and connections outside the classroom.
The MBA students appreciated the Premier for the lecture and engaged him with questions which led to healthy discussions bordering on how the LBS MBA is helping them shape their understanding of the Africa Rising narrative and how they hope to be responsible and effective leaders for the growth that Africa is bound to record. During his visit, the Premier delivered a lecture which critically examined the narrative of 'Africa Rising.'
He stated that even though economic growth plays a key role in determining how far Africa has risen, it is not the only factor that should be considered in the Africa rising narrative.
LBS MBA DIRECTOR, DR. UCHENNA UZO BAGS AWARD AT PAN AFRICAN CASE STUDY COMPETITION
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agos Business School is widely known for its stellar achievements and accolades. The School is proud to announce that its MBA Director, Dr. Uchenna Uzo's case study titled "Indomie Noodles in Africa: Lessons on Digital and Cultural Branding"
came third place in the just concluded 2016-2017 Emerald/Association of African Business School (AABS) case study competition. The Emerald/AABS case study competition was launched in 2011. The competition aims at encourag-
ing and promoting the development of high-quality teaching case materials derived from real life situations in Africa. Winners are usually selected by a judging panel who deliberate over each case study, by analysing both the case and teaching note before giving an overall manuscript score.
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To commemorate his incredible win, Dr Uzo has been invited to Cairo, Egypt, for the upcoming AABS conference where he will be awarded his certificate. Dr Uzo's case study will also be published in a forthcoming
release of Emerald's Emerging Sources Case Collection. Emerald Publishing which was founded in 1967, manages a portfolio of nearly 300 journals, more than 2,500 books and over 450 teaching cases.
EXECUTIVE MBA (EMBA 22) STUDENTS WINS LBS DEAN'S CUP FOOTBALL COMPETITION
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agos Business School is concerned about transmitting world-class management and business knowledge, and also interested in the total conception of the human person. Balance in life aids maximum productivity; as the saying goes; “all work and no play makes Jack a dull boy.” Therefore, LBS recently hosted the Dean's Cup Football Competition. The Dean's Cup Football Competition began in 2011. The competition is contested amongst the various MBA classes of the School – the full-time MBA, the Executive MBA (EMBA) and the Modular Executive MBA (MEMBA) classes. The Tournament Director, Henry Onukwuba, notes that "the competition is aimed at enhanc-
ing the campus experience of the students; affording them moments of relaxation and also opportunities to network in a relaxed mode." The Executive MBA (EMBA) 22 class emerged winners at the 2017 Dean's Cup Competition, after defeating MBA 15, with a penalty goal, in the final played at the School grounds on Saturday, June 10, 2017. It is safe to say that experience won
agility, as this is the first time in the history of the Dean's Cup Competition that the EMBA class which consists of more mature players will come out victorious against the younger MBA (full-time) participants.
LBS FIRST BANK SUSTAINABILITY CENTRE HOSTS SUSTAINABLE FINANCE STRATEGY WORKSHOP FOR NGOS
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he Lagos Business School, First Bank Sustainability Centre (FSBC) hosted a Finance Strategy Workshop for NGOs recently.
Strategy & Sustainability; Dr. Franklin Ngwu, Strategy & Risk Management and Dr. Akintola Owolabi, Accounting & Finance.
The workshop was designed to bring together NGOs and Funding Organisations in an interactive learning environment, to enhance their understanding and implementation of internal and external sustainable funding mechanisms for the financial sustainability of their entire operations.
The participants present were impressed with the quality of information they received and had wonderful things to say about the workshop. Aissatou Gaye, Wave Academies said "It was an insightful event to take part of, I very much enjoyed every session, especially the interactive session and the panel discussion. The key takeaways for me were definitely around "retro-budgeting," "friendraising", "selling impact" and "board member alliance."
The workshop was conducted by three seasoned faculty members of Lagos Business School: Dr. Ijeoma Nwagwu, 1 0 | L B S Ne w s
Julie Osakue ,JLOS World said "I enjoyed the workshop, we should have a WhatsApp group which will make things easier in organising more training for the actualisation of needed growth in the industry." The First Bank Sustainability Centre of Lagos Business School seeks to empower individuals and business organisations to implement sustainable solutions to Nigeria's needs for reliable energy, a resilient environment, as well as robust human and economic development.
LAGOS BUSINESS SCHOOL'S DEAN, DR. OKONEDO, RINGS THE NIGERIAN STOCK EXCHANGE (NSE) CLOSING BELL Oscar Onyema, CEO, Pai Gamde, Acting Head, Corporate Services, and Haruna Jalo – Waziri, Executive Director, Capital Markets Division.
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ean of Lagos Business School, Dr. Enase Okonedo, rang the closing bell of trading on Thursday, June 22, 2017, at the Nigerian Stock Exchange (NSE). Okonedo was received by
This was part of the activities of the partnership between Lagos Business School and Duke Executive Education; International Executive Development Programme, which is being conducted for the Banking Sector Education and
Training Authority (BANKSETA) of South Africa. This makes it the second year in a row, that the Dean of LBS will ring the closing bell at the Nigerian Stock exchange, as she did so during last year's International Executive Development Programme. Ringing the opening or closing bell at NSE is widely considered a great honour and symbol of a lifetime of achievement. Dignitaries and celebrities are often given the honor of ringing the bell to mark the open and closing of floor activity.
LBS HOSTS INTERNATIONAL EXECUTIVE DEVELOPMENT PROGRAMME
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agos Business School in partnership with Duke Corporate Education (South Africa) hosted the International Executive Development Programme (IEDP) for the Banking Sector Education and Training Authority (BANKSETA), South Africa. The IEDP consists of three study blocks with partners in South Africa (Duke CE); Nigeria (Lagos Busi-
ness School) and the United States of America (New York University). The five-day programme was designed as an immersive and action-based learning intervention to ensure that participants learn from best practices in the industry through discussion sessions with thought leaders in different sectors of the economy. The programme exposed delegates, made up of investment bankers from
different banks in South Africa to best practices in the Nigerian business environment and economy. BANKSETA is an enabler of skills development and transformation in the broader banking & microfinance sector and supports people development through partnerships, skills development, alleviating unemployment, creating a brighter future and enabling change in South Africa.
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LBS FACULTY, PROFESSOR AJOGWU JOINS STANBIC IBTC BOARD AS DIRECTOR Corporate Governance at Lagos Business School, where he has been teaching Business Law, Negotiation, and Corporate Governance for over 16 years.
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agos Business School is pleased to announce that one of its faculty members, Professor Fabian Ajogwu was recently appointed as an Independent Non-Executive Director on the Stanbic IBTC Board. Ajogwu is a Senior Advocate of Nigeria (SAN) and currently a Professor of
He has his a first degree in Law (LL.B) from the University of Nigeria, BL from the Nigerian Law School, a Master's Degree in Law (LL.M) from the University of Lagos, an MBA from IESE Business School, Barcelona, Spain and a Ph.D. from University of Aberdeen, Scotland. He is also an alumnus of the Said Business School of Oxford University and Lagos Business School.
Ajogwu has written over ten books, published numerous articles in peer-reviewed academic and professional journals, and developed case studies and technical notes used at a number of the School's programme. His current research interests include professional ethics, mergers and acquisitions, and arbitration of commercial disputes. The learned Senior Advocate has been a lead Counsel to the Federal Government of Nigeria in several cases of national importance. He chairs some companies, including ARM-Harith Infrastructure Fund, Novare entities in Nigeria, and previously LEAP Africa.
ALIKO DANGOTE HOSTS LBS AT DANGOTE LEKKI REFINERY
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resident/CEO, Dangote Group, Aliko Dangote hosted students, participants, and staff of Lagos Business School (LBS) at the Dangote Lekki refinery, recently. This is the second year in a row that students from LBS will be visiting the Dangote Refinery for an experiential leg of their study programme. Ifeanyi Obiorah, Director, Executive Educa-
tion LBS stated that the visit to the refinery was an experiential learning experience conducted for the participants of the Owner Manager Programme with the aim of exposing them to unique opportunities that can inspire them to scale their businesses and transform the Nigerian economy.
The visit to the refinery came to a close with a guided tour of the ongoing construction of the Dangote refinery grounds which includes a petrochemical project, gas pipeline project, and a fertiliser project.
CHARTERED INSTITUTE OF PERSONNEL MANAGEMENT APPOINTS LBS ADJUNCT FACULTY AS CEO
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agos Business School (LBS) is pleased to announce that Ajibola Ponnle, an adjunct faculty member was recently appointed as the Chief Executive Officer and Registrar of Chartered Institute of Personnel Management (CIPM).
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Ponnle holds a B.Sc. degree in Economics from the University of Ibadan and a
Masters in Organisational Psychology from the University of London. She is an organisational psychologist and certified professional coach. Ponnle is also a Chartered Accountant and Chartered Tax Practitioner with over 20 years' experience in various fields ranging from finance and business audit to team development and
coaching. She started her career with Arthur Andersen (now KPMG International), having worked in various units including audit, process re-engineering, and HR consultancy. She was
an instrumental member of the culture change project after the merger of BAT and Nigerian Tobacco Company and she pioneered the establishment of the Marketing Finance Department.
She has worked with all levels of management in companies such as PZ Cussons, Total, GTBank, FCMB, Etisalat, Airtel, Seplat, Sterling Bank to mention a few.
LAGOS BUSINESS SCHOOL RECEIVES N500 MILLION DONATION FROM GAMALIEL AND SUSAN ONOSODE FOUNDATION (GAMSU) Lagos Business School (LBS) has received the second and final part of a pledged donation by the Onosode family on behalf of the Gamaliel and Susan Onosode Foundation (GAMSU). The Foundation is a not-forprofit and non-political organisation whose objective is to foster the success of the Nigerian Child through innovative and flexible learning opportuni-
ties while providing the enabling environment. This donation will go towards the building of the International Management Research Centre (IMRC), which will be used for the School's research activities. To honour the family for their benevolence, the
IMRC building will be named "The Gamaliel Onosode Management Research Centre" after the late Gamaliel Onosode.
PROFESSOR OGBECHIE APPOINTED PRESIDENT OF THE GOVERNING COUNCIL OF BANK DIRECTORS ASSOCIATION OF NIGERIA (BDAN)
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rofessor Chris Ogbechie, Management Board Member, LBS, was recently appointed as the President of the Governing Council of Bank Directors Association of Nigeria (BDAN). BDAN is a non-profit organisation aimed at promoting honourable prac-
tice within the Banking Industry. The association promotes sustainable banking best practices within banks and financial institutions in Nigeria, and collaborates with regulatory agencies and other stakeholders to ensure the public interest.
LBS FACILITATES UTILITY PRICING AND REGULATION PROGRAMME FOR THE LAGOS METROPOLITAN AREA TRANSPORT AUTHORITY (LAMATA)
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agos Business School recently conducted a Utility Pricing and Regulation Programme for the staff of the Lagos Metropolitan Area Transport Authority (LAMATA).
This programme was facilitated in response to the need for credible and fair sustainable regulatory arrangements of utility infrastructure in the country. Ikechukwu Kelikume, Programme Academic Director,
stated that the programme equipped participants with a comprehensive understanding of the key elements involved in Utility Regulation and Management.
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LBS ANNOUNCES NEW ADDITION TO FACULTY
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agos Business School is pleased to announce that it has added another seasoned expert, Dr. Edwin Agwu to its faculty base. Agwu will be joining the Sustainability and Strategy department. He holds an NCE from Federal College of Education Okene; a BSc. in Science/Education, from the University of Lagos; an MBA from Adekunle Ajasin Univer-
sity; MSc. in International Strategic Management from Staffordshire University Business School; and a Ph.D. in Strategic Management from the University of Wales Business School. He is an astute banker, versatile researcher, a seasoned lecturer, management/training consultant, and accomplished education/busi-
ness manager. He has over with twelve years banking and finance experience and more than fifteen years of lecturing experiences in various academic institutions in the United Kingdom and Nigeria.
HARVARD KENNEDY SCHOOL OF GOVERNMENT AND MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) STUDENTS VISIT LBS
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agos Business School hosted students from Harvard Kennedy School of Government (HKS) and Massachusetts Institute of Technology (MIT) on August 9, 2017. The visit to the School was part of the activities of the Public Sector and Innovation Field Trip organised in partnership with the Lagos State Government. Toyosi Akerele-Ogunsiji, Vice Pres-
ident International Student Affairs, Harvard Kennedy School of Government stated that the idea behind the public sector leadership and innovation field visit to Nigeria is to show some of the brightest and best students from HKS and MIT the beauty, talent and accomplishments of Nigeria and Nigerians. Akerele-Ogunsiji, further noted that the students had to come to Lagos Business School because the
School is a case study of success and excellence in the educational system in Nigeria.
INSURANCE MANAGERIAL LEADERSHIP IN SALES AND MARKETING ENDS WITH GLOWING TESTIMONIES "
I am so impressed by the course content and the facilitators. The classes were very interesting and practical; I could relate with the case studies vis a vis where I work. The environment is very welcoming and serene. The coor1 4 | L B S Ne w s
dination was fantastic as our needs were met and we were made very comfortable" Akomolafe Oludayo of Boff & CO. Insurance Brokers Ltd. "Every time I am here, I see clearly
and appreciate why business schools are different from the conventional universities. The programmes are practical and extremely relevant to workplace issues. The case studies and syndicate groupings are excellent. I recommend every organisation to avail its cherished staff the opportunity here at LBS" Popoola Babatunde of Gras Savoye Insurance Brokers Nig. Ltd. These were some of the testimonies received from the Insurance Managerial Leadership in Sales and Marketing Programme organised by Lagos Business School.
LBS AND OTHER EXPERTS ADDRESS THE MANAGEMENT SKILLS GAP IN AFRICA
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he Global Business School Network in partnership with the Center for Global Enterprise recently brought together a group of experts and academics to speak on management skills gap in Africa.
developing world. GBSN has over Seventy (70) member schools which demonstrate a commitment to improving access to quality, locally relevant business education.
Lagos Business School is a member of the Global Business School Network (GBSN), a non-profit organisation that partners with business schools, industry, foundations and aid agencies to improve access to quality, locally relevant management education for the
Founder & CEO of the Global Business School Network, Guy Pfeffermann noted that the high unemployment rate in Africa is evident by the existence of two organisations: National Association of Unemployed Graduates in Nigeria and the Unemployed
Graduates Association of Ghana. Sharing the Lagos Business School history and approach, Dr Yinka DavidWest of LBS presented the educator perspective on efforts to address the management skills gap in Nigeria.
LBS IN PARTNERSHIP WITH RESEARCH ICT AFRICA (RIA) TO CONDUCT RESEARCH STUDY ON BROADBAND ACCESS IN NIGERIA
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agos Business School (LBS) in partnership with Research ICT Africa (RIA), South Africa is conducting a research study aimed at enhancing broadband access in Nigeria.
The objective of this research study is to address the knowledge gap in broadband access in Nigeria. Measuring broadband performance will help ensure consumer needs and expectations are met by the providers and that service levels remain reliable.
SENIOR MANAGEMENT PROGRAMME ENDS WITH GLOWING TESTIMONIES FROM GTBANK AND FBN STAFF The 63rd edition of Lagos Business School's Senior Management Programme (SMP 63) recently came to an end. Many of the participants were impressed with the quality of knowledge they received and had wonderful things to say about the programme.
mmanuel Ocheme, Senior Associate, FBN Capital noted that attending the SMP programme is the highlight of his educational journey. "For me, the best thing that has happened to me in my educational effort is attending the SMP programme at LBS. The programme
provides immediate actionable skills, tools, and strategies to improve self and work performance. I am glad to belong to the LBS Alumni network which provides a platform for continuous learning and improvement" he said.
Olufunso Tooki, Head, Organisational Development, Guaranty Trust Bank said "bringing together participants from diverse sectors of the economy to brainstorm on solutions to workplace challenges has proven to be very powerful in driving and learning. Without a doubt, my colleagues and I are leaving the programme with a wider outlook and deeper insight. We are determined to make a difference after this and we will". L B S Ne w s | 1 5
LBS HOSTS 40 SUCCESSFUL CANDIDATES AT THE 4TH EDITION OF THE COMPETITIVE YOUNG TALENTS PROGRAMME
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agos Business School (LBS) recently hosted 40 talented young people at the fourth edition of the Young Talent Programme (YTP). The bright candidates, comprising mostly of first-class honours graduates, emerged the successful 10% of a highly competitive recruitment process. The one-day programme gave the young talents the chance to receive
first-hand information from faculty members and experts on the various career opportunities available to them in academia and industry.
LBS ATTAINS MBA CAREERS SERVICES AND EMPLOYER ALLIANCE MEMBERSHIP
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agos Business School recently became a member of MBA Careers Services & Employer Alliance. Membership to the MBA Careers Services & Employer Alliance is only open to schools accredited by the Association to Advance Collegiate Schools of Business (AACSB).
oping the relationships and providing the supportive information and services that produce ongoing success for graduate business career services offices and employers.
MBA Career Services and Employer Alliance (MBA CSEA) is the global leader in delivering the tools, devel-
Working together, employers and schools collaborate to support each other's success. Members explore
topics and challenges they face, work together to develop innovative solutions and use this dual perspective to benefit schools, students, and employers.
LBS ALUMNI NETWORKING PORTAL AWARDED THE BEST PERFORMING PROFESSIONAL SCHOOL PORTAL
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raduway recently awarded the "Best Performing Professional School Portal" to Lagos Business School Alumni Networking Portal, LBS Alumni Connect. The award was given in recognition of the engagement of Lagos Business School Alumni through the Alumni Connect Network. The portal, which also serves as a repository for information on alumni activities, has been very beneficial to alumni members. Bunmi Afolabi, Director, Alumni Relations in her acceptance speech thanked members of the community for their engagement in the alumni
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activities of the School and acknowledged that this was a huge feat for the Alumni Relations Team as Graduway has over 500 top educational intuitions worldwide that engage with its network. According to a statement by Daniel Cohen, CEO of Graduway, "many business schools across the world use a Graduway platform; however, Lagos Business School has excelled in finding lost alumni and connecting them with existing students. Congratulations, LBS on this well-deserved award" Cohen concluded. Graduway was founded in 2013. The network, which is recognised as the leading
provider of alumni networking platforms, has over 500 leading educa-
tion and non-profit institutions. The vision of the company is rooted in the belief that alumni are at the heart of improving philanthropy, employability, and enrollment. Graduway's soft-
ware empowers a valuable network for alumni, students and supporters of an institution to connect and engage with each other and as a result, bring them closer to the institution.
LBS EMERGES TOP THREE IN THE MCKINSEY AND LBS CASE COMPETITION
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agos Business School as part of its ongoing efforts to strengthen its connections and engagement with industry with the aim to be the number one contributor to the knowledge and practice of management in Africa hosted a case competition in partnership with Mckinsey on Saturday, 16 September 2017 at the School premises. The competition, which kicked off with a welcome address by the Dean of LBS, Dr. Enase Okonedo, was aimed at strengthening the analytical and problem-solving skills of professionals in Africa by creating more awareness about management consulting as a profession. It was judged by seasoned experts in the business analysis and management consultancy industry. They include Dr.
Yetunde Anibaba, Faculty, Analysis of Business Problems, LBS; Bolanle Njideofor, Engagement Manager, McKinsey; Karan Keswani, General Manager, Artee Group Ltd (Park and Shop/SPAR); Dolapo Adejuyigbe, Engagement Manager, McKinsey. The thorough competition which offers the participants the opportunity to develop their consulting skills had the shortlisted eight teams present their findings to the panel of judges after two hours of rigorous debates and analysis. The LBS team emerged top 3 at the end of the judging process. McKinsey & Company is a global management consulting firm that serves leading businesses, governments, non-governmental organisations, and not-for-profits.
LBS HOSTS STRATEGY EXECUTION PROGRAMME FOR ZENITH INSURANCE EXECUTIVES
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agos Business School recently hosted a strategy execution programme for Zenith Insurance executives. The participants on the programme were extremely pleased with the knowledge gleaned and acknowledged that the programme had gone a long way in sharpening their strategy execution skills.
LBS PARTNERS WITH STANBIC IBTC FOR SENIOR MANAGEMENT DEVELOPMENT PROGRAMME
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agos Business School recently partnered with Stanbic IBTC to deliver the Senior Management Development Programme for the Senior and Assistant General Managers of Stanbic IBTC Pension Managers Limited
as part of the ongoing custom executive development programme for members of the Stanbic IBTC group. Participants who attended were pleased with the information and knowledge garnered from the
programme. "The relevance of this programme for managers cannot be overstated. This programme has made a significant positive impression on me and would be useful in my professional and personal development" Charles Omoera, Head, Research and Corporate Strategy, Stanbic IBTC Pension Managers Limited.
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LBS FACULTY, KAYODE OMOREGIE ADMITTED AS A FELLOW OF THE BUSINESS RECOVERY AND INSOLVENCY PRACTITIONERS ASSOCIATION OF NIGERIA; REAPPOINTED TO ICAN BOARD
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ayode Omoregie, Faculty, Finance at LBS was recently admitted as a Fellow of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) with effect from September 12, 2017. Omoregie, a member of the governing council of BRIPAN, has also been appointed a member of the executive committee and Assistant Secretary General of the Association. BRIPAN, an affiliate of International Insolvency Association (INSOL) comprises professionals from the accountancy, legal, tax, and management consulting, with expertise in
the areas of Business Rescue, Corporate Restructuring, local, international and Cross-Border Insolvency practice. BRIPAN aims to raise the standard of business rescue and insolvency practice in Nigeria in line with global best practice. Mr. Omoregie was also reappointed to serve on the Board of the Corporate Restructuring and Reengineering Faculty of the Institute of Chartered Accountants of Nigeria (ICAN) for a second term.
LBS IN PARTNERSHIP WITH FIDELITY BANK HOSTS PRESS CONFERENCE TO COMMEMORATE THE FIFTH EDITION OF THE EXPORT MANAGEMENT PROGRAMME
L
agos Business School hosted a press conference on Wednesday, 27 September 2017, to commemorate the fifth edition of the Export Management Programme (EMP). The five-day programme, which is in partnership with Fidelity Bank and Nigerian Export Promotion Council (NEPC ), is designed to promote export growth, give professionals more insight and knowledge about the benefits of exportation to businesses as well as expose participants to realities facing the Nigerian export industry. In attendance at the press conference were: Ayodele Adedeji, Deputy Director, Development Finance, CBN;
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Mohammed Balarabe, Deputy Managing Director, Fidelity Bank; Dr. Frank Odaji, Faculty, Operations, LBS; Dr
Uchenna Uzo, MBA Director, LBS; and Babatunde Faleke, Zonal Director, Lagos and South-West, NEPC.
LBS SIGNS MOU WITH TOTAL
L
agos Business School (LBS) recently signed a Memorandum of Understanding (MoU)/ Educational Partnership Agreement with Total to optimally harness the knowledge transfer and sharing initiative between both organisations. The highlight of the mutually beneficial 3-year MoU will have LBS support Total in its managerial development efforts. Others will include participation by T000otal in certain courses, presentations, conferences, case stud-
ies, knowledge sharing workshops and forums conducted by LBS; customisation of LBS-developed courses that are best suited to the needs of Total and the petroleum industry in general; participation by deserving LBS' students at Total's summer school. LBS and Total will also collaborate in research.
2ND EDITION OF GNAM WEEK COMES TO AN END
T
he second edition of Lagos Business School's Global Network for Advanced Management (GNAM) week themed "Selling Strategies for Consumer Markets: Perspectives from Africa's Largest Economy" recently ended. LBS hosted MBA students from Yale School of Management in the United States, IPADE Business School, Mexico, Fudan University School of Management, China and UBC Sauder School of Business, Canada.
understanding of the selling strategies in Nigeria's formal and informal market structures. Activities included: a learning trip to Trade Fair International Market
The one-week programme was filled with several activities which enabled the students to have an in-depth
(Aspamda) Badagry Expressway, Lagos, and Novare Shopping mall, located at Sangotedo – Ajah; lectures on Understanding the Buying and, Selling Process; and How Digital Buying and Selling Works in Nigeria. It also featured company visits to selected SMEs and a presentation which constituted of free consultation services to participants on the Owner Management Programme (OMP).
LBS PARTNERS WITH STANBIC IBTC FOR COMPETITIVE STRATEGY DEVELOPMENT PROGRAMME
L
agos Business School recently partnered with Stanbic IBTC to strengthen the strategic approach of the members of staff of Stanbic IBTC.
Participants who attended were pleased with the information and knowledge garnered from the programme. Isichei Robinson Ogochukwu said "LBS has over and over proven to be a place to receive quality training. The training facilitators are knowledgeable and courteous, always willing and ready to guide you through the sessions.�
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Nigeria Beyond Oil: LBS Alumni in Entertainment, Point the Way – Bunmi Afolabi and Dianabasi Akpainyang
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The entertainment industry in Nigeria remains one of the most loaded with potential. Several scholars have documented facts to show that the industry holds the key to how the international community perceives Nigerian culture because of its ability to project aspects of the culture in its celebrated performances. From Nigerian music, films, festivals, comedy, theatre, and arts, to mention just a few, Nigerian entertainment products have made enviable sales both locally and internationally. Good news? The entertainment industry has the potential to change the country’s economic narrative positively for good. This is the considered opinion of people who should know. From the days of the groundnut pyramids, cocoa, and palm plantations, to the current dealings in crude oil and natural gas, the Nigerian economy has come a long way. There are many emerging trends, especially with the recent economic recession in mind, that point to the need for the
country to prepare more aggressively for life after crude oil. Economic experts and analysts have pointed towards the direction of agribusiness as the next big earner of foreign exchange. This is understandable as Nigeria had survived its early years before the oil boom of the 1970s on the proceeds of agricultural production and export. In addition to agribusiness, other sectors stand tall and possess an enormous capacity to support the Nigerian economy and move it away from over-dependence on crude oil, protecting it from the attendant volatility of global oil markets. One of such sectors is entertainment. Nigerians love entertainment; they love to entertain and to be entertained. Little wonder the industry is booming and effectively gathering steam. We made a choice in this edition of Footprints to focus on how Lagos Business School alumni
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are making an impact in this industry which is usually not the main subject of many economic debates. According to PwC’s Spotlight on the Nigerian Film Industry of July 2017, the entertainment industry contributed 2.3% (N239 billion) to Nigeria’s Gross Domestic Product in 2016. It is also considered one of the priority sectors by the Federal Government’s Economic Recovery and Growth Plan to add $1billion in export revenue by 2020. Take the film industry – Nollywood alone; an estimated 1500 films get churned out every year, making it the largest film industry in Africa and second largest globally, after Bollywood of India. To accept that such a globally prominent industry is still in its developmental stages, according to experts, is difficult but not misplaced. One only needs to take an incisive peek into the industry to observe the challenges that continually blight its effectiveness and somewhat stall the realisation of its full potentials. Interestingly, if the full potential of the entertainment industry in Nigeria were close to being realised, the country would be the better for it. Not only would the much-debated economic transformation come close to being achieved, but the social impact would be massive. As one of the gateways to the cultural perception of the Country by outsiders, getting it right with the entertainment industry can also mean getting Nigeria’s image and reputation right.
LBS Alumni Pulling their Weight in the Industry Many individuals, agencies, and companies jostle various roles to ensure that Nigerians are entertained. We beamed our searchlight on LBS alumni who are plying their trade in this very important industry. Though we came across quite a number of them; we restricted our conversation to two heavyweights – Green36 Concerts and Royal Roots Communications Limited, with appreciable credentials working assiduously to entertain Nigerians in the best way possible.
About Green36 Concerts Green36 Concerts is an entertainment outfit formed in 2013 by Mr. Dapo Simon Ajeniya, MBA 8 while he was the CEO of Loopy Music – now Chocolate City Music, following a merger. Dapo co-founded Loopy Music as a record label with Nigeria’s foremost rapper and artist; Mr. Jude Abaga aka M.I (Mr. Incredible) in 2011. Green36 Concert is a platform for creating festivals, exhibitions, fairs, artist tours and concerts which feature both established and upcoming performances. The Company has supported over one hundred artists since inception. Events so far
created by Green36 Concerts include the Rock Alive Concert, Isolo Shopping Festival, Vibin Indie Music festival, Green36 Concert, The Listening Sessions, Studio 36, Stringed out Music tour and documentary. The Company aims to give its guests a memorable experience and all its partnering brands a robust platform that allows them to engage profitably with current and potential customers.
About Dapo Ajeniya
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Dapo obtained a BSc in Business Administration from the University of Ilorin before going on to study for a Diploma in Humanities at the University of Tel-Aviv in Israel. He worked at Cashlinks Finance and Investments Plc and later at Intercontinental Bank. During the global economic crisis of 2008, Dapo felt an unease with his role at the bank and decided to exit, opting instead for an MBA programme at Lagos Business School.
How He Ventured into Entertainment Dapo’s interest in entertainment was kindled when he participated in the Israeli Reggae Festival during his time studying at the University of Tel-Aviv. The Israeli experience also triggered his love for and interest in tourism. While at Lagos Business School, Dapo took part in a student-led activity (SLA) known as SME Logic. As President of the initiative, he spearheaded the inclusion of entertainment on the list of sectors to consider for representation. From there, the MBA team got the well known Nigerian rapper – M.I to attend the event from whom they got to hear about the dearth of professional managers in the entertainment industry. He partnered with two other classmates to start Loopy Music to provide management services to artists. The company grew and merged with Chocolate City Music. When he noticed that the fundamentals of the recording arm of the music industry were not as strong and lucrative as he thought, Dapo veered into the concert initiative in line with his Israeli (and Dubai) experiences, and that led to the birth of Green36 Concerts. Dapo is so into entertainment that anytime he travels abroad; his eyes remain set on the entertainment make-up of his host cities. He said: “When I travel to other cities around the world, I usually look out for the entertainment within those cities. I also wonder how their entertainment is structured. In Dubai, you find out that, even though the city is so small, you get this feeling that there is so much to do, packed into such a small space. As I said earlier, I started out in Israel; Israel has almost the same structure, the same size as Dubai, slightly bigger but you also notice that you have so many (entertainment) activities going on.
It almost feels like you are in a country that is in Disneyland because there is so much going within a very small space.”
How He intends to Impact Nigerian Entertainment Dapo intends to take the giant but steady strides necessary within the next few years to dominate the concert space in Nigeria. His dream is to first dominate the city of Lagos, one neighbourhood at a time. The Isolo neighbourhood is his first spot of dominance mainly because of its proximity to the Lagos airports and the existence of a good number of high-quality hotel brands – a fantastic combination for tourists to be adequately serviced. With his focus on having international guests troop into Lagos for his concerts, Isolo being the ‘gateway’ to Lagos stands tall. However, he is also intent on replicating the ‘Isolo model’ to other parts of Lagos before venturing into West Africa and then Africa. Mr. Ajeniya and his team have moved on from grumbling about the negatives in their environment to taking action to make positive change. Having been involved in an industry so plagued with challenges, the team has taken the initiative to engage government and policymakers at the local level to formulate policies that will engender growth and bring business to practitioners in the entertainment industry. They are pursuing an initiative to get traditional rulers to become more vocal with the stories of their communities that highlight the history of the people living there. These would provide ready material for tour companies to present to tourists with delightful historical narratives and get them longing for more by visiting other communities.
“I see entertainment as a tool to achieve business goals.” Dapo has a message for marketers and strategy managers of companies: “use entertainment platforms to reach your target markets.” He recommends that rather than recruit an ‘army’ of salespeople to take products to the market, brands can take advantage of endorsement of artists and the gathering of potential customers at events to reach out to their target markets. Like the Isolo Shopping Festival which his company facilitates, companies can partner with them and grow it to become the Nigerian version of the Dubai Shopping Festival, lasting up to a month for optimal impact. Dapo emphasises that for him: “entertainment is actually a tool for achieving business objectives.”
Achievements Though still a small company, Green36 Concerts has achieved much in its few years of existence. A good number of the over 100 artists who have graced the stage at events organised by the company have risen from relative obscurity to fame. Companies have also used these platforms to activate their brands and launch products. Artists like Falz (the Bad Guy) and MI who have benefitted from the expertise
of Green36 Concerts have gone on to become role models for upcoming artists. The Company’s concert, festival, and tours entertainment model have open doors to many other performances as they require music, dance performances, etc. to run, because the events are usually all-encompassing.
About Royal Roots Communications Network Royal Roots started as a radio/ television production and events management company in 1997. The company prides itself on possessing some of the latest and best production equipment available in Nigeria today. Royal Roots Communications Network stands on three pillars; first, the Royal Roots Communications arm which deals with production services, commercials, event coverage and documentaries. Second, R2TV which is the television channel of the company available on GOtv channel 112. The third pillar is the R2 Radio, operating as 92.9FM Ibadan. The TV and radio stations are youth-focused and have as guiding slogan – “…entertainment at its best.” This stresses their resolve to provide top-notch entertainment programmes and drama series.
About Greg and Debbie Odutayo Royal Roots Communications Network owes its conceptualization and existence to two brilliant minds who have been inseparable partners both conjugally and professionally. Greg Odutayo, OMP 11 and AgMP 6 is the managing director while Debbie Odutayo, AMP 26 is the executive director. Both teamed up to establish the company and set it rolling in 1997. The story of the Odutayos is quite interesting. You’ve got to see the smile on Debbie’s face when she told us that Greg was once her ‘client’ during her days as a producer for another company. The smile inadvertently communicated to us that well, that’s the client who became my husband. These things happen, don’t they? Greg conceived the idea of starting a content production company while working as production services manager at Bates Cosse Limited and Debbie was a producer at Minaj Television. They both thought that it was an ideal time for them to harness their skills, passion, and competencies to run a proper content production company to produce top quality content for the Nigerian market. After gathering experience in producing content for television, they had to, for a
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The company provides content for many drama series and situation comedies (sitcoms). Some of the series credited to Royal Roots include House Apart, Bella’s Place, My Mum and I, Soul Sisters, About to Wed and Edge of Paradise. These programmes sit really well with viewers such that eleven years after Edge of Paradise was produced it is still very highly rated. Royal Roots ventured into the movie space with the premiere of the home movie – Beyond Blood in January 2016.
while, endure the frustration of being told by television stations that they had to pay for their content to be aired. They also fought compliance battles with television stations which would not show advertisements that had been paid for. The frustrations and battles expressed above did not deter the duo from pressing forward with their passion. They rather spurred them to look inwards for answers. The answer came when the agreed that with the quality of content they had, coupled with their passion and experience in the trade, it was high time they started their television station. That was how R2TV started.
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‘Our target is the youth… to give them a voice.’ The Couple knew the direction to go from the outset. With the planned digitization of television in Nigeria and the advancements in technology, Greg and Debbie chose to target the younger generation because of their high adaptability to new ways of doing things. While setting up the television station, Royal Roots came up with a slogan that they want you to watch their programmes “whenever you want, wherever you want, however you want.” The demography that
matched that slogan is obviously the group that practically ‘lives on mobile phones.’ The major preoccupation of the founders of the R2TV especially was to take television viewership to the people, and that is what they have achieved with the focus on the youth population who are easily drawn by the emphasis on entertainment that the station is known for. To adequately capture the essence of the involvement of the youth population, R2TV encourages programmes developed and presented by young people. According to Debbie: “A lot of our content are by them (the youth) as well; so it is not older people creating programmes for the youth, rather it is the youth doing programmes for the youth because they want to see themselves, listen and appreciate themselves better.” Greg adds: “…when we wanted to start up Royal Roots TV, we understood that youths in Nigeria are not allowed to speak for themselves, they don’t have a voice… we (the older generation) speak for them, we assume things for them, concluding erroneously that this is what they should need, this is what they should have rather than allowing them to do it themselves.”
The R2FM station is youth-centric; it targets persons between the ages of 15 – 35. The main programmtes covered are in fashion, lifestyle, music, drama, talk shows, sports and news (strictly entertainment news). These programmes must exude excitement and fun; two lifestyle ingredients of the Nigerian youths. However, though the plan is to allow the youths express themselves, the Odutayos admitted that they play a guiding role to ensure that what goes on air is suitable for public consumption and meets the well-known Royal Roots high standards.
“Our vision is to ensure the Royal Roots name spreads all over the world.” Nigeria is in dire need of citizens who would help clean up its image in international circles through an intensive publicity of the enduring delight of being a Nigerian or living in the Country. Royal Roots Communications has offered itself as one of such corporate citizens. Intent on moving the company to the next level of exhibition and distribution; the leadership of Royal Roots has commenced the deliberate circulation of their premium content to African countries with an eye to reaching the rest of the world. Indeed, the Company is in advanced discussions to have its flagship movie – Beyond Blood and future content hosted on the online film distribution service – Netflix. Additionally, R2FM is one of the first radio stations that can be listened to on Facebook. The station is on Radio Garden – the interactive map of global radio stations. The radio station can be heard live on the website http://r2929fm.com/. These platforms offer listeners the opportunity to hear their favourite radio station on the go, anywhere they are in the world.
Debbie: “Awesome!” Greg: “It’s fun!” For many married couples, running a business together is usually off limits. But these two have been building a business ‘empire’ for twenty years with relative ease. This is possible because they have subscribed to an unwritten guiding philosophy to respect each other’s strengths, roles, and input to the business. They claim to be an ‘open book’ to each other, ensuring that frank communication and a clear demarcation of responsibilities remain guiding principles. They also agreed to “never take the office home or the home to the office,” according to Debbie. Though they admit that they can’t help but discuss business issues at home; but they do not allow both aspects of their lives interfere in a negative way. In such a loveable and romantic way Greg described Debbie as; “the best producer anyone can have” while Debbie says of Greg; “… when you have someone like him (as husband and boss) then that’s the height of it for you.”
The Nigerian Entertainment Industry in the Eyes of these Practitioners The two companies in focus operate in different specialties in the entertainment industry. However, the perspectives of the principal actors on the potentials and challenges of the Nigerian entertainment industry are not different. Regarding potential, they see the entertainment
industry as being capable of replacing crude oil and natural gas as Nigeria’s biggest foreign currency earner if the right things are done.
Potentials Dapo Ajeniya believes that Nigeria has tourism and entertainment hotspots that if properly harnessed would help the country earn foreign currency and depend less on the volatile oil. He sees Lagos State as one of those hotspots and recommends that moribund markets like the Aswani market in Isolo which in times past used to attract buyers from all over West Africa be revamped. He thinks that entertainment events should then be created around places like that which have a large convergence of foreigners who are usually willing to spend big to enhance their experiences. He also sees opportunities i n
large religious gatherings with sometimes hundreds of thousands of foreigners visiting every year. For him, entertainment practitioners should begin to target this segment and help to give the visitors the best entertainment experiences they can have. Dapo believes that if Nigeria begins to host entertainment events that could attract 10,000 to 100,000 visitors, the ripple effect on the economy would be massive in terms of job creation and business dealings. He thinks that all stakeholders in Nigeria should do a lot more to create events, festivals, and exhibitions to tell the Nigerian story, present historical facts about the Country in sophisticated ways as to attract
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The Experience Running a Company together as Husband and Wife?
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historians. By doing this, Nigeria could be home to a potpourri of foreign visitors all through the year. The attendant benefits would transform the Nigerian economy in the long run if sustained – Dapo’s considered opinion. Greg and Debbie Odutayo posit that the creative industry in Nigeria is capable of being the lifeline for the economy and can help steer it away from dependence on oil. For them, creativity is inbuilt in the human person and so cannot be exhausted in contrast to the oil resource which is exhaustible. They estimate that the Nigerian movies in cinema alone had churned out revenues in excess of N1bn in 2016 and the same has exceeded N2bn between January and August 2017. For the duo at Royal Roots, the informal and unstructured nature of the entertainment industry in Nigeria makes it difficult to estimate revenues accurately. Therefore, if services in the informal areas of the entertainment sector which do not have their revenue figures captured by banks and records are aggregated, then the revenue figures would sure go higher than the current estimates.
Again, the issue of job creation was brought up concerning the possibilities that abound for people to provide ancillary services to the entertainment industry. Most of what goes on in this area currently is not documented; but it is common knowledge that service providers abound in one way or the other in the industry and if the capacity of the industry is expanded, then more jobs and businesses would be created. All that needs to be done is that the policy makers (government) pay more attention to that sector to develop it while stakeholders like Lagos Business School could lend a helping hand by way of developing competent managers to operate in the sector.
Challenges Our featured guests were also unanimous in their articulation of the challenges that practitioners in the entertainment industry face. In summary:
• Piracy: industry practitioners have to contend with a very high rate of piracy of their works which drastically affects income generating potentials.
• Lack of structured funding: getting funding on the kind of terms that are favourable to practitioners in the industry is a big challenge. According to Dapo Ajeniya, in the recording arm of the music industry, it takes six months to one year to start earning income from a particular job. Where banks are not willing to give such moratorium but insist on immediate 30-day cycle payments, then the practitioner cannot make headway. Furthermore, Greg Odutayo sees the informal nature of the industry and the propensity of entertainers to defy structure and formalities as being major impediments to accessing funds where available. Therefore where the funds are there for the taking, sometimes the practitioners are unable to meet the conditions for such loans because their activities are not formalised. • Poor Infrastructure: this is a recurrent theme in almost all spheres of life in Nigeria. Greg likened his company’s premises to a generator dealer’s shop because of the number of generators they have installed to provide steady electricity. He bemoaned the instability of high-speed internet ser-
• Security: entertainment industry practitioners also have to grapple with security concerns. From crew members getting harassed by street urchins popularly called ‘Area Boys’ in Lagos to cost of hiring security escorts and paying for venue security during events, this is one aspect that certainly needs immediate and comprehensive attention. • Lack of Trained Manpower: the unstructured nature of the industry makes it an all-comers affair. People believe that as long as they have the talent, they should have a place in the industry and thus start making a living off it. But when they are confronted with the realities of running a proper business, they get
Dapo: “As a promoter of professionalism, people take me more seriously. Due to the informality that pervades transactions in the industry, people attempt to do verbal agreements. However, I insist on documentation and due process (as a result of my LBS training). During negotiations, my LBS training comes to play because in the entertainment industry, there are lots of negotiations to do. I have learnt to read contracts between the lines to avoid regrets and losses. My LBS training has greatly helped with these.” Debbie: “Most of the structures we have put in place (in our company) were learnt at LBS. I have benefitted greatly from the knowledge of team building and leadership which I learnt during my Advanced Management Programme. The relationships we built during the programme
people and not finance or structured people, we like to do things our own way. But our LBS training has helped us put certain structures and processes in place to enable us to maintain our standards of excellence. We have established processes in HR, finance and other aspects of our business. The LBS education has also helped us remain ethical in a very challenging business environment. Being ethical is a challenge in our industry, but each time I remember LBS, I remember ethics, and I chose to go the better way. LBS brought to my consciousness the fact that I cannot run my business in isolation of the whole economy. Consequently, I started to get interested in the GDP, my contribution to it and so on. So when I attend some of these economic fora, they open my eyes to the direction the economy is heading and where the areas of development
" The LBS education has also helped us remain ethical in a very challenging business environment." discouraged. The practitioners suggested LBS and other highly rated institutions should step in to help the industry to “help itself ” according to Greg Odutayo. How has the LBS Education helped your businesses?
also – many of our friends from the programme have supported our business; they have not let us go, and we have not let them go. We have benefitted a lot from the networking opportunities that LBS offer.” Greg: “LBS (education) to a large extent has helped us structure ourselves better. Because we are creative
are. Leading my OMP class of diverse business people (as President) also helped me to understand how to manage and appreciate diversity. Therefore, LBS has impacted greatly on our personal and professional lives.”
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vices which impact service delivery.
Fee WHAT A FEELING!
Reuniting Ten Years after the Caps Flew – Dianabasi Akpainyang It was a beautiful evening of hugs, banters and screams of excitement when cheerful LBS alumni of the 2007 Classes reunited at the Lagos Oriental Hotel earlier in the year. The classes that walked their LBS journey in 2007 are: CEP 16, AMP 19, OMP 10, SMP 30 and 31, EMBA 10 and MBA 3. Many members of these class sets were present on April 22 to reignite the bonds that their studies at LBS helped create.
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So, ten years after they flung their graduation caps in the air, these alumni met again, some for the first time, and the feeling was awesome.
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eling
PRESIDENT’S DINNER:
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ALUMNI DANCE TO CELEBRATE LBSAA AT 25 – DIANABASI AKPAINYANG
But the foregoing were not the only aspects of the annual event worthy of committing
to memory. There were the usual awards ceremony – Mr Peter Bamkole of EMBA 3 and CEP 22 going home with the distinguished alumni award for his outstanding work in developing entrepreneurs in Nigeria and Africa, the Gamaliel & Susan Onosode Foundation (GAMSU), received the President’s Award for their massive contribution to the development of Lagos Business School and yes! AMP 26 emerged the champions of the best class competition. LBS alumni appeared prepared to enjoy the evening. Perhaps the joy of their beloved association clocking 25 years fueled that feeling. As the innovative dancing competition started, alumni showed what stuff they are made of, especially when the atmosphere is right.
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The Lagos Business School Alumni President’s Dinner of 2017 will be remembered for many reasons. The lustrous lightings of the superbly decorated hall of Harbour Point in Victoria Island and the uncharacteristic blazing sunshine of Sunday, July 2 make great material for the memory. The electrifying ambience, reinforced by gorgeous guests adorning colourful garments of local and international extraction, fit for the camera flashes of the world’s biggest fashion red carpets could not go unnoticed. The delight and excitement on the faces of the guests as they hugged, shook hands and poked fun at one another was an amazing sight to behold.
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The dance steps, from the mild to the intense, to the outright hilarious, drew applause, laughter and glee from the audience. It was truly an entertaining evening boosted by the audience management wizardry of the event’s anchor – Dayo
Benjamins-Laniyi. Our ever-supportive sponsors made this possible, ensuring that there were plenty of gifts to go round so that the dancers and other lucky raffle winners had prizes to show for their efforts and courage.
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ALUMNI CO SEAL DEALS NETWORKIN
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ONNECT AND S AT SPEED ING EVENT
– ESTHER OJO
N
etworking is all about building strong and trustworthy relationships with people of like minds. It gives people access to the hidden or informal job market and also the ability to tap into professional information, advice and great opportunities for development. The LBS Alumni Speed Networking Event (SNE) helps alumni to build stronger professional and business networks by developing mutually beneficial relationships among themselves to expand their spheres of influence. The second SNE for 2017 held on Saturday, October 7, 2017, at NECA Building, Alausa, Lagos. The event held on the mainland axis of Lagos to accommodate alumni who are based there. The 2017 SNE was restructured based on feedback from alumni and the desire of the alumni relations team to give more value to the participants. There were anchors from different sectors such as legal, oil and gas, PR and media, manufacturing, consulting/ professional services, financial services and ICT/Telecommunications. Others are power & security, HR, medical/ pharmaceutical, entrepreneurship, marketing, brands, agribusiness, marketing communications, banking and real estate. The anchors were available for one-on-one interaction with each participant to guide them through their career paths, inform them about the challenges and opportunities available in the sectors for those planning to venture into such sectors. Those seeking to expand their businesses within their current
sectors also benefitted from the insights from the anchors. The anchors also answered important career and business questions. The interaction level was very high and intense with no dull moments. The objectives of the event are: • To build relationships • New ideas and identify opportunities • To connect with mentors/achievers in various sectors There were vivid testimonies of deals sealed and objectives achieved by the attendees. The alumni who served as anchors at the event are: • Dr. Femi Bankole (Medicine), AMP 25 • Peter Bamkole (Entrepreneurship), EMBA 3 • Dr. Batth Harbhajan (Manufacturing, Marketing), EMBA 7 • Nsima Ogedi-Alakwe (Manufacturing/ Brands), EMBA10 • Anu Eso (Legal), CEP 22 • Helen Emore (Agribusiness), CEP 22/ AgMP 5 • Deji Aliu (Oil and Gas), MBA 1 • Udeme Ufot (Marketing Communications/PR), CEP 3 • Nkolika Okoli (Banking), AMP 22
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LBS ALUMNI LIGHT UP PORT HARCOURT CITY WITH ZONAL DINNER – D I A N A B A S I A K P A I N YA N G
There was laughter, entertainment and learning at the South East/South South Zonal Dinner on Thursday, October 5, 2017. The dinner held at the Golden Tulip Hotel, Port Harcourt and was attended by glamorously dressed alumni and guests. Mr. Francis Toromade of Amo Byng Nigeria Limited delivered a lecture titled: “Operations, Opportunities, and Challenges in Agro Processing: A Case of Nigeria’s Poultry Value Chain.” A new executive council was inaugurated to pilot the affairs of the zone. The members are Mr. Moritz Abazie (CEP 19) – President, Mrs. Lawrencia Onyemachi (SMP 20) – Vice President, and Mr. Nkem Joseph-Palmer (EMBA 17) – Secretary.
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Alumni in the Northern Zone, Dinner in Abuja
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– DIANABASI AKPAINYANG
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T
his year’s Northern Zonal Dinner held on Thursday, October 12, 2017, at Bon Grand Towers Hotel, Abuja.
Key moments of the event were the lecture on the state of Nigeria’s economy by Mr. Opeyemi Agbaje, CEO, RTC Advisory Services, Lagos and the inauguration of the new zonal executive council. The members of the new EXCO include Mr. Mac Ekechukwu (AMP 22) – President, Mrs. Ekaette Umoh (OMP 21) – Vice President, and Mr. Kunle Ogunfile (SMP 40), Secretary. There were lots of laughter and fun too!
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SOUTH-WEST ZONE OF LBSAA TAKES OFF WITH SESSION ON ECONOMY
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– ESTHER OJO
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The LBS Alumni Association has expanded its zones
from two to three. The three zones are Abuja Zone which covers the Northern region, Port Harcourt Zone which covered the South-South and South-East regions and the latest – the Ibadan Zone which covers the South –West region. Activities in the new zone kicked-off on Thursday, October 19 with an inaugural session anchored by Dr Doyin Salami, LBS Faculty and Economics expert. The session held at Adis Hotel, Ibadan. Dr Salami spoke on “The Economic and Business Environment Outlook for 2018 and Strategies for Competitiveness.” It was an interactive and informative session. The alumni are excitedly looking forward to more sessions in 2018.
46 | Features
How Productive are Your Meetings? Tajudeen Ahmed
“When is this meeting going to end?” “What exactly are we still doing here?” “With only one hour left, we have
meeting, take phone calls, or practically sleeping and even snoring! According to “AthernaInsight,” unproductive meetings cost companies more than $37 billion annually. The National Statistics Council of the USA claimed that 37 percent of employee time is spent in meetings. Other data indicate that there are 11 million business meetings every day. Furthermore, Verizon Conferencing reported that it commissioned the “Meetings in Amer-
the United States, approximately $37 billion is wasted annually on unproductive meetings. “Industry Week,” in a study of over 2000 managers, reported that at least 30 percent of the managers’ time spent in meetings was unproductive. 3M conducted a similar survey with executives and found that 25 – 50 percent of people’s time spent in meetings was wasted. Without hesitation, I could safely assert that one of the most significant sources of unproductivity is too many prolonged meetings. In organisations, certain days and times are usually assigned for meetings on a weekly, fortnightly, monthly or quarterly basis. However, observations and studies have shown that such meetings could drag for too long, and the minutes are usually reflective of only a few pages! It is not uncommon to have meetings that lasted seven hours produce a two-page minutes! To understand this malaise, a quick highlight of some of the reasons for unproductive meetings become relevant. One of the major reasons for this development is lack of pre-determined time frame for meetings. Open-ended meetings tend to be long, monotonous, and unexciting. A meeting that has only three agenda items may last for six hours, whereas another (productive one) that has seven-agenda items could last only one hour.
only discussed three items on our ten-point agenda!” “Time is far spent, and we have not discussed any tangible thing.” Also, you may have noticed colleagues doing any (or all) of these at meetings: fiddling with mobile phones or other gadgets, chatting or sending text messages, playing online games, exchanging notes, discussing issues unrelated to the
ica Study” to gain a better understanding of meeting trends and the needs of its customers and it found out that 91 percent of people admit to daydreaming during meetings! And over one-third – 39 percent have dozed off during meetings. Peter Spark, a leadership and workplace expert and President/Founder of Peter Barron Stark companies, reported that whereas over 25 million meetings are held each day in
Another causative factor is the participants’ penchant for speaking at all cost, even when their views or suggestions had been mentioned by other participants. Such employees do this to demonstrate ‘ability to talk,’ popularity, eloquence, or authority. In doing this, sometimes, they completely veer off the meeting agenda. Undue significance placed on every member speaking is also a factor.
Features | 47
In both official and private meeting settings example meetings of residents’ associations, old students associations, university alumni, families and chieftaincy houses; how often do you hear these?
There are organisations where minutes of meetings reflect on perception of employees’ capacity and capability by superior officers, or they become one of the unofficial bases for reward and sanction. In such organisations, the ‘loudest noisemaker’ at meetings is wrongly perceived as having gravitas, being more knowledgeable and confident. How untrue! On this basis, employees struggle to say something at meetings, even if the opinions expressed are redundant, repetitive, or irrelevant. Therefore, employees don the toga of ‘union leaders’ at meetings through unnecessary grandstanding and verbosity. As mundane as it sounds, lack of proper (and adequate) communication about venue, timing, and participants is another factor for unproductive meetings. This occurs when members have to look for the venue of meetings, when meeting notices are sent too close to the date thereby disrupting participants’ schedules (except for emergency or ad-hoc meetings), when the wrong persons receive the notice, etc. Any, or a combination of these, may make participants arrive late at meetings and issues discussed in their absence may have to be reintroduced.
48 | Features
Lack of clarity regarding pre-meeting and post-meeting responsibilities also affect the productivity of
meetings. For instance, in already established (routine) meetings where there is no pre-determined secretary and ‘meeting leader/ anchor,’ the tendency to have chaotic outcomes would be high. On the other hand, a secretary and ‘meeting anchor’ could be selected among participants in cases of emergency or ad-hoc meetings. To stretch this further, nothing could be more confusing than concluding a meeting that requires execution of tasks and projects without responsibilities being assigned to anyone.
Recommendations In seeking to conduct efficient and effective meetings, organisations should ensure preparation of an agenda circulated among members in advance. Also, meetings should end on time or earlier where possible; without short-circuiting the focus of, and the reason for the meetings. Furthermore, meetings should not be jamborees; only employees relevant to the agenda or focus of the meeting should be invited. Without pre-empting the outcome of meetings, clear objectives should be set ahead of meetings. If possible, prior ground rules should be set. Such rules could include (but not limited to) keeping mobile devices away from the meeting venue or putting them in silent mode.
Others are starting promptly and sticking to the agenda. The meeting should also focus on substantive matters, example identifying problems/challenges, making progress towards quantitative goals, discussing new ideas for improvement, exploring lessons learnt and others. Minutes of meetings should highlight a summary of decisions and action items with attendant responsibilities assigned to relevant persons. Contributions at meetings should be moderated to avoid turning them into ‘student union rallies’ where everybody may have to speak about everything. Organisations should realise that productive meetings save enormous cost, engender employee engagement and inclusiveness, breed confidence in insider-sourced solutions and encourage a sense of ownership of the organisation and its future among employees. Hence, they should seek to conduct meetings that contribute to their growth and development, in contrast to those which waste resources.
About the Author Tajudeen is a strategy expert with several years of senior management experience in consulting, commercial banking, and FCMG. He is a member of SMP 42
TOP
– Glor y Enyinnaya
Thus the automation of processes is not a radical concept, it is simply about making sure that businesses can survive within very tough times!
Business Process Automation is the process of integrating your business functions, using software applications to make implementation seamless and effortless. Here are 10 compelling reasons why your company’s business processes should be automated.
2. Quality:
Each automated process will run the same way every time it is run; there will be no room for human errors and as popularly said, ‘to err is human’. Automated processes will thus reduce defects, which in turn saves money and enhances the production process.
1. Efficiency and Productivity: 3. Speed: When repetitive tasks are automated, labour costs fall, which translates into increased profit.
Anyone who has to undertake a repetitive task over and over again will get bored. This will slow down
their performance (and increase the risks of defects); however, an automated process will not become bored, no matter how often it is run, so speed of performance is maintained.
4. Compliance:
The automation of processes increases the likelihood of compliance with internal or external requirements, such as statutory requirements.
Features | 49
10
R E ASONS WHY YOU S H OU LD AU TOMATE YO UR BUS IN ESS PROC ESSES
5. Training Costs:
Historically it could have taken a long time to train staff to do even the most repetitive of tasks, especially if the task required a high degree of accuracy. However, if they are using an automated process, it takes far less training, thus reducing overhead.
6. Auditing:
Automated systems also make auditing an easier process as there is less time taken to analyse and audit the production process as a whole.
7. Flexibility:
50 | Features
Automated systems are also incredibly flexible, so it is easy to make changes, or at least far easier than it would be to change processes that involve only humans. This flexibility can be important if changes are required at short notice.
8. Customer Satisfaction:
10. Employee Turnover:
The fact that defects are reduced means that customer satisfaction is increased, often quite significantly, so customers will be kept happy whilst profits are increased, which makes good business sense and one of the most compelling arguments for automating any business process.
A happier workforce is also a more stable workforce, because they are less likely to leave the organization. This in turn further reduces staff training costs, because staff are not being constantly recruited and trained, only for them to leave. Staff retention rates thus remain constant.
9. Employee Engagement:
Thus the automation of processes is not a radical concept, it is simply about making sure that businesses can survive within very tough times!
A workforce that is not bored by repeatedly undertaking very repetitive tasks or who are not faced with reams of data that they need to analyse, and do not have to worry about achieving high degrees of accuracy each time, because the technology solves all these problems, will actually be a happier workforce.
ABOUT THE AUTHOR: Glory Enyinnaya (EMBA 21) is the CEO of KleosAfrica. KleosAfrica partners with African CEOs to provide solutions to their business problems, including process automation using software packages such as SAGE and ERP NEXT. She can be reached at glory.enyinnaya@kleosafrica.com or +2348022951048
IDRIS YAKUBU, AMP 22 APPOINTED MD/CEO OF NAHCO PLC Mr. Idris Yakubu, a former president of the award-winning class, AMP 22 has been appointed the managing director and chief executive officer of the Nigerian Aviation Handling Company (NAHCO) Plc. The Board of Directors of the Company informed the Nigerian Stock Exchange (NSE) that the appointment took effect from November 3, 2017. NAHCO Plc is an indigenous company with interests in various areas of the aviation industry, currently serving more than 35 airlines across 13 airports in Nigeria, with plans to spread out to other African countries. Mr. Yakubu is a distinguished professional with an illustrious career in banking and financial services, business development, strategy and corporate leader-
ship spanning over 28 years. Until recently, he was an executive director at Skye Bank Plc and a member of the team commissioned by the Central Bank of Nigeria to stabilize the ailing bank. Before that, Idris had worked in Continental Merchant Bank, United Bank for Africa (UBA) Plc and Fidelity Bank Plc. At Fidelity Bank Plc, he was an important member of the Fidelity Bank/FSB Consolidation Implementation Team and served as chairman, Marketing, and Products Sub-Committee. He holds a BSc degree in Accounting from the University of Jos, a Masters in Business Administration (MBA) from Ahmadu Bello University, Zaria and a Masters in Banking and Finance from the University of Lagos. He has attended other exec-
LBS ALUMNI DOMINATE THE HELM AT UNITYKAPITAL ASSURANCE PLC
T
he corporate leadership deftness of LBS alumni has been displayed again with the appointment of Mr. Polycarp Didam, AMP 22 and Mr. Thomas Etuh, CEP 17 as MD/CEO and Chairman, Board
of Directors of UnityKapital Assurance Plc, respectively. Polycarp Didam, AMP 22 is an accomplished insurance professional with a career spanning over two decades. Prior to this appoint-
utive management courses in top universities abroad. Idris is a member of the Nigerian Institute of Management (NIM), an honorary senior member (HCIB) of the Chartered Institute of Bankers of Nigeria (CIBN) and a member of Ikoyi Club 1938. He was elected to the Governing Council of the University of Jos in May 2017 after previously serving as the president of the school’s alumni association.
A l u m n i i n t h e Ne w s | 5 1
a ^ok
_
ALUMNI IN THE NEWS
ment, he was the MD/CEO of Guinea Insurance Plc, having also served in the same position at Fin Insurance Company Limited. He has worked in other leading companies in the insurance and financial services sector such as Afribank Insurance Brokers, Industrial and General Insurance Co. Ltd and AXA Mansard Insurance Plc. Mr. Didam obtained a Diploma in Insurance from Ahmadu Bello University, Zaria in 1986 and both a Higher Diploma in Business Management and a Masters in Business Administration (MBA) from Abubakar Tafawa Balewa University (ATBU), Bauchi. He is an associate of the Chartered Insurance Institute of Nigeria (ACIIN), member of the Nigerian Institute of Management (MNIM), National Institute of Marketing of Nige-
ria (MNIMN) and the Institute of Directors (IoD). Thomas Etuh, CEP 17, on the other hand, is a consummate corporate executive and administrator with experience in banking and business management. He once served as the Chairman, Board of Directors of Unity Bank Plc and was also the pioneer ViceChairman of the Board of the Bank. He was the Managing Director of Fiztom International Limited, Kaduna and is the Managing Director/CEO of Tak Continental Limited, a position he has held since 2001. Mr. Etuh obtained a diploma in banking from Ahmadu Bello University, Zaria and an advanced diploma in public administration from the University of Jos. He went further to study for a postgradu-
ate diploma in management from Abubakar Tafawa Balewa University, Bauchi. He holds a Masters in Business Administration (MBA) from the Business School of Netherlands and an Advancement Management Programme from the University of Navarra, Barcelona.
OLUKAYODE PITAN, SMP 5 BECOMES MANAGING DIRECTOR OF BANK OF INDUSTRY (BOI).
T
52 | Alumni in t he Ne ws
he Federal Government of Nigeria in May 2017 announced the appointment of Mr. Olukayode Pitan, SMP 5 as Managing Director and Chief Executive Officer of Bank of Industry (BOI), Nigeria’s largest and oldest development finance institution. Mr. Pitan started his career at Arthur Andersen in 1984 but moved on to banking in 1986 at Citibank Nigeria. He subsequently joined Industrial Bank Limited (Merchant Bankers) as part of the pioneer team in the role of Head, Trade Finance. He left the Bank in 1991 to run Credit Lease Nigeria Limited, a company he founded to pursue his dream of export business.
He returned to the banking industry in 1996 joining FSB International Bank Plc as AGM / Head of Middle Tier market and public sector. He served as Group Head, Commercial and Consumer Banking Group. He also headed the Corporate Banking and Energy groups. He was promoted to Executive Director of the Bank and Managing Director of ENSEC (Energy division) in March 2001. Mr. Pitan joined First Interstate Bank Plc in August 2004 as Managing Director/Chief Executive Officer. He led the Bank successfully through a merger with eight other banks to form Unity Bank Plc. From January 2006 to February
2009 when he voluntarily retired, he served as Executive Director of Unity Bank Plc in charge of Corporate Banking and Treasury
Other top corporate positions he has occupied include Chairman of FUG Pensions Ltd and alternative Director of Kakawa Discount House Limited, Director Newdevco Investments & Securities Co. Limited, Director Banque International Du Benin (BIBE) and Chairman, Habitation of Hope – an NGO
set up by Pastor(Mrs) Folu Adeboye to salvage, transform and empower the abandoned, hopeless and homeless street boys and girls in our society. Before his appointment, he was the MD/CEO of Caroline Properties Ltd and Director of Excel E&P Ltd. He holds a BSc (Hons) degree in Economics as a UAC scholar from
the University of Ibadan and a Master's degree in International Management as a Rotary International Scholar from the American Graduate School of International Management, Thunderbird Campus, Glendale, Arizona. He is also an alumnus of London Business School and the Haggai Institute in Singapore.
HARUNA JALO-WAZIRI, SMP 13 APPOINTED MD/CEO OF CENTRAL SECURITIES CLEARING SYSTEMS (CSCS) PLC
M
r. Haruna Jalo-Waziri, SMP 13 became the CEO of the Central Securities Clearing Systems (CSCS) Plc, the company that facilitates the delivery and settlement of securities transacted on approved Nigerian exchanges. His appointment took effect from November 1, 2017. Mr. Jalo-Waziri started his sterling career at the Nigerian Stock Exchange before moving to the Securities and Exchange Commission (SEC). He has worked in Afrinvest West Africa, Kakawa Discount House Limited, later Kakawa Asset Management Limited (now FBN Merchant Bank) and First Alliance Pensions and Benefits Limited (now ARM Pensions Limited). He has previously served at the highest level of executive management
as MD/CEO of UBA Stockbrokers Limited and later UBA Asset Management Limited. In 2012, Haruna was appointed Executive Director, Capital Markets at the Nigerian Stock Exchange with responsibility for the overall capital market developments. Mr. Jalo-Waziri has served on the boards of the following organisations: FSDH Merchant Bank, Nigeria German Chemical Plc, Oakwood Protea Hotel and others. He is on the Board of Special Olympics Nigeria and is the Vice President of the AIFA Reading Society; an NGO set up to promote a reading culture and sustainable educational development across Africa. Mr. Haruna Jalo-Waziri is a graduate of Economics from the University of Maiduguri and attended the
Abubakar Tafawa Balewa Univer-
sity, Bauchi where he obtained his Masters in Business Administration (MBA). He is an alumnus of the Venture Capital Institute of America and a member of the Institute of Directors (IoD).
A l u m n i i n t h e Ne w s | 5 3
Management
Class Notes AMP 9
AMP 26
Bade Adeshina has been appointed Director at Premium Pensions Limited, effective May 2017. He also got appointed as Director, Health Assur Limited (HMO) with effect from July 2017.
The Class took students of their adopted school – Lekki Community High School on an excursion at Modupe Cole Home, Akoka and University of Lagos
AMP 19 Katchy Chukwuma PhD is now a fellow of the Nigerian Institute of Management
AMP 22 Idris Yakubu has been elected a member of the Governing Council of the University of Jos, effective May 2017
CEP 5 Alhaji Azeez Bello has been appointed the Pro-Chancellor and Chairman of Governing Council of Nnamdi Azikiwe University, Awka. He was sworn in on the 9th of May, 2017.
CEP 8
Abdullahi Ibrahim has been appointed Executive Director at First Bank Nigeria Limited. Prior to this appointment, he was the Bank’s Group Executive, Retail Banking, North.
54 | Class Notes
AMP 24 Dele Alimi is now the Director General/CEO of the Institute of Directors (IoD) Nigeria
Olusegun Aina has been elected the pioneer Chairman, Global Council of the Global Banking Education Standards Board (GBEStB). Elected during the Global body’s meeting of July 25, 2017, Mr Aina will lead the Council for the next two years.
CEP 19 Bukar Kyari has been appointed independent director at CRC Credit Bureau with effect from August 2017.
EMBA 2
Prof Babatunde Osotimehin, former minister of health and executive director of the United Nations Population Fund, died on Sunday, June 4, 2017, at age 68. A funeral service to honour the late patriot was held at the All Souls Church, Ibadan before he was buried on July 21, 2017.
CEP 14 Eddie Efekoha has been conferred with the fellowship of the Institute of Directors of Nigeria and was sworn-in as the deputy president of the Chartered Insurance Institute of Nigeria on July 25, 2017.
Soboma Ajumogobia was installed as the 57th President of the Rotary Club of Lagos at the Metropolitan Club, Victoria Island, Lagos on the 7th of July, 2017.
EMBA 3 Professor Fabian Ajogwu (SAN) was appointed an Independent Non-Executive Director of Stanbic IBTC Bank. The Board of Directors of the Bank made the announcement on July 4, 2017.
EMBA 4
CEP 15
Bunmi Lawson, CEO of Accion Microfinance Bank was awarded the MFB Banker of the Decade at the 9th LEAD Annual Lecture and Think Tank, November 2017 Oluwole Adeosun was elected member of the Council of the Nigerian Stock Exchange at the 56th Annual General Meeting of the Exchange on September 25, 2017
EMBA 5 Charles Lucas Nwaokorie departed this world on the 22nd of July, 2017 at the University of
C l a s s No t e s | 5 5
CEP 10
Port Harcourt Teaching Hospital, Port Harcourt. He was buried on Saturday, September 22, 2017
MEMBA 3 Nneka Eluma has been appointed Partner at KPMG Nigeria, effective October 2017.
EMBA 7 Magnus Ekwunife has been elected financial secretary of the League of Anambra Professionals (LAP), effective August 2017.
EMBA 9 Henry Onukwuba has been conferred with the Onitsha Excellence Award 2017 by the Onitsha Improvement Union (OIU), Lagos Chapter, for his selfless and exemplary contributions to the growth of the Onitsha society. The award was given to him at an elaborate ceremony, tagged Onitsha Day 2017, on Saturday, August 21, 2017, at the Police College Ground, Ikeja, Lagos.
OMP 12 Chief Chukwuma Noel Muoguilim died on September 1, 2017. A Service of Songs was organised in his favour on Wednesday, October 25, 2017 at the Anglican Church on the Peninsula, Ajah, Lagos while his remains was interred on Friday, November 3, 2017 at Egbema – Ozubulu, Anambra State Mopelola Imam-Lawal celebrated her 60th birthday on Sunday, November 5.
OMP 18
EMBA 10 M.K.O. Balogun celebrated his 50th birthday on Wednesday, July 5.
EMBA 14A Funke AlomoOluwa has been appointed Executive Director at Chams Plc. Prior to this appointment; she was Managing Director of ChamsAccess Limited, a subsidiary of Chams Plc
FTMBA 11
56 | Class Notes
Kelechi Okere got married to Judith Ihuoma Ugwuegbu on Saturday, June 3 at St Joseph’s Catholic Chaplaincy, Imo State University, Owerri
IMP 2 Mayowa Olaniyan has been appointed Executive Director at Chams Plc. Until her appointment, she served as Chief Strategist and Financial Officer of the Chams Group.
R Rogba Orimalade was elected the Chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Chapter. His investiture ceremony held on July 12, 2017 at the Civic Centre, Victoria Island, Lagos
SMP 6 Funmi Babington-Ashaye was sworn-in as the 48th President of the Chartered Insurance Institute of Nigeria on July 25, 2017 at the banquet hall of the Intercontinental Hotel, Victoria Island, Lagos
C l a s s No t e s | 5 7
SMP 14 Beta Glass Plc has appointed Seun Oni as Non-Executive Director with effect from September 21, 2017.
SMP 17 Udom Inoyo was inaugurated the 18th President/Chairman of Council of the Chartered Institute of Personnel Management (CIPM) on July 6, 2017 at Lagos Oriental Hotel, Victoria Island.
SMP 23 Catherine Ogbemudia, popularly known as ‘Mummy O’ clocked 60 years of age on October 22 She celebrated the milestone with her family, colleagues and friends
SMP 25 Bernard Akpoborie passed away on September 29, 2017. He was buried on Friday, October 10, 2017, at his hometown of Aviara, Isoko South Local Government Area of Delta State.
SMP 41 Babatunde Mimiko was appointed Executive Director at FBN General Insurance in August 2017
SMP 57 Ndubuisi Yerima passed away on July 6, 2017.
SMP 58 Aisha Bubaram has been has been promoted to the position of Assistant General Manager (AGM) at First Bank Nigeria Limited.
58 | Class Notes
Hotel s
AIRLINES
South African Airways
8 – 11% discount on Business class; 8% discount on economy class (all routes)
Emirates
From 5%
Sheraton Abuja Hotel
33 – 37% discount
Transcorp Hilton, Abuja
11 41% discount
NICON Luxury, Abuja
25% 35% discount
Bon Grand Towers Hotel, Abuja
Up to 67% discount
Barcelona Hotel, Abuja
30% discount on Rooms
Golden Tulip Hotel, Port Harcourt
20% discount
Hotel Presidential, Port Harcourt All rooms, including suites
30% discount
Banquet Halls
25% discount
Novotel Hotel, Port Harcourt
28 – 37% discount
Le Meridien Ogeyi Place, Port Harcourt
22 – 25% discount
Protea Hotel, Ikoyi Westwood, Lagos
16 – 22% discount
Eko Hotel and Suites, Lagos
12 – 49% discount
Southern Sun, Ikoyi
35% discount
Gran Melia Hotel, LekkiEpe Expressway, Lagos
33 – 36% discount
Blowfish Hotel, V/I, Lagos
Up to 57% discount on Rooms, 40% discount on Halls and 15 – 20% discount on Meals
The Wheatbaker, Ikoyi, Lagos
28 – 30% discount
Lagos Oriental Hotel
30 – 48% discount
Millennium Residence, VI, Lagos
30% discount on rooms (including meeting/conference rooms), 20% on food and nonalcoholic drinks
Epe Resorts, Epe, Lagos
N15,000.00 off the cost of rooms
Sheraton Hotel, Ikeja, Lagos
Up to 50 percent Discount on accommodation, 15 discount percent on meeting rooms
Sheraton Hotel, Gambia
Up to 36%
Labadi Beach Hotel , Accra, Ghana
29 – 38% discount
The Michelangelo, Sandton – Gauteng, South Africa
34 – 39% discount
The Michelangelo Towers, Raphael Penthouse Suites & Davinci Suites, Sandton, South Africa
29 – 64% discount
Alumni Benefits | 59
LAGOS BUSINESS SCHOOL ALUMNI ASSOCIATION GUIDE TO ALUMNI MEMBERSHIP BENEFITS
OTHER S 60 | Alumni Benefits
Davinci Hotel, Sandton – Gauteng, South Africa
27 – 28% discount
Centurion Lake Hotel, Pretoria – Gauteng, South Africa
29 – 30% discount
Sunnyside Park Hotel, Parktown – Gauteng, South Africa
30% discount
The Airport Grand Hotel, OR Tambo International Airport – Gauteng, South Africa
30% discount
The Commodore, V&A Waterfront – Cape Town, South Africa
44 – 50% discount
The Portswood, V&A Waterfront – Cape Town, South Africa
38 – 51% discount
Brookes Hill Suites, Summerstrand – Port Elizabeth, South Africa
30% discount
Bakubung Bush Lodge/Kwa Maritane Bush Lodge, Pilanesberg – North West Province, South Africa
35% discount
Tshukudu Bush Lodge, Pilanesberg – North West Province, South Africa
20 – 30% discount
Kruger Park Lodge, Hazyview – Mpumalanga, South Africa
30% discount
Kuzuko Lodge, Addo Elephant Park – Eastern Cape, South Africa
26% discount
Windhoek Country Club Resort (Windhoek – Namibia)
30% discount
Swakopmund Hotel and Entertainment Centre (Swakopmund – Namibia)
34% discount
Simba Group Nigeria
15% discount on inverters
Laterna Ventures (Bookstore)
10% discount on business books, 7.5% on Christian books
BusinessDay Newspapers
50% discount on cover price
Swift Networks Internet subscription
20% discount
Clean Ace Dry Cleaners members
15% discount for Life; 10% discount for Annual members
Soul Lounge, The Palms
10% individuals, 15% groups
MG Cars from Coscharis Motors
5% discount
Natives Hospitality and Services Limited, V/I, Lagos
20% discount on meals
Sovereign Trust Insurance plc, 17 Ademola
12.5% discount on motor insurance and 20% discount on all other classes of insurance Contact Lanre on 08056157400 or 08099929145; email; lanre.ojuola@stiplc.com
Smile360 Dental Specialists, Ikoyi
10 percent Discount on all dental services
Grover Medical Lifestyle Clinic
Free Registration and 20 percent discount on medical consultations
Footprints Alumni journal
Free copy
Alumni Sessions
Last Thursday of the month
Alumni Day and lunch
Free seminar/conference, tea/coffee
President’s Dinner
Right of attendance and discounted ticket
LBSAA website/Directory
Access
Right of brief consultation with LBS Faculty Use of the LBS library Access to research materials
How to Access the South African Airways Discount: To enjoy the South African Airways discount, please send an email to lbs@ng.hrgworldwide.com or call Mutiu Badmus on 012702690 – 4, 08087184000, Dianabasi Akpainyang on 08129120797 or dakpainyang@lbs. edu.ng for flight bookings.
How to Access the Emirates Airline Discount: Contact Dianabasi Akpainyang or any member of the alumni relations team to get the promo code for LBS. With the code, you can make a booking on the Emirates Airline website: www.emirates.com.
How to Access the BusinessDay Discount: Please pay your subscription fee to BusinessDay Media Limited, Zenith Bank account: 1012308966. Complete a subscription form and submit alongside the evidence of payment to: subscription@businessdayonline. com. For further enquiry, please call Gertrude on 08027754785 or Ezekiel on 07034809009
Alumni Benefits | 61
GENERAL: ALL ALUMNI
CHOOSE THE
MBA
THAT'S RIGHT FOR YOU
Programmes
MBA (full-time)
For Whom
Young professionals
Entry Requirements
5 credit passes including English and Mathematics from Senior Secondary School Certificate Examination Minimum of a second-class lower university degree in any discipline Good GMAT or GRE score. GMAT and GRE Exams can be taken multiple times (log on to www.mba.com and www.ets.org for useful information on the GMAT and GRE respectively) Minimum of 3 years postqualification work experience
Executive MBA
Modular EMBA Middle - Senior level Managers
Middle - Senior level Managers 5 credit passes including English and Mathematics from Senior Secondary School Certificate Examination Minimum of a second-class lower university degree in any discipline or if lower, a Post-Graduate Diploma from a university A satisfactory performance at the LBS entrance exam or the GMAT/GRE exam. Exams can be taken multiple times. Minimum of 7 years post-qualification work experience
5 credit passes including English and Mathematics from Senior Secondary School Certificate Examination Minimum of a second-class lower university degree in any discipline or if lower, a Post-Graduate Diploma from a university A satisfactory performance at the LBS entrance exam or the GMAT/GRE exam. Exams can be taken multiple times. Minimum of 7 years post-qualification work experience
Information Sessions
2017: 4 November – Accra, Ghana; 23 November - Abidjan, Cote D’Ivoire; 16 December - Douala, Cameroun 2018: 17 February – Port Harcourt; 21 April – Abuja
MBA Experiential Sessions
2017: 10 November; 2018: 19 January, 23 March, 18 May, 22 September - Lagos, Nigeria
Application Deadline
Early Bird: 9 December 2017 Round 2: 31 March 2018 Round 3: 2 June 2018
8 December 2017 Round 1 (2019 class): 4 June 2018 Round 2: Sep 1 2018 Round 3: Oct 13 2018
Round 1: 31 March 2018 Round 2: 2 June 2018
Call Tractrain: 08033557712, 07035375441; Total Ascent 08104224268, 07062100023; Bellaz 08060725686 OR log on to www.mba.com OR www.ets.org
2017: 25 November, 2 December 2018: 24 February, 24 March, 28 April, 19 May, 2 June, 7 July, 25 August
2018: 24 February, 24 March, 28 April, 19 May, 2 June
Entrance Exam Dates Start Date GMAT/GRE Deadline
September 2018 Early Bird: 11 December 2017 Round 2: 2 April 2018 Round 3: 4 June 2018
January 2018, January 2019
August 2018
Supplementary: 8 December 2017 Round 1 (2019 class): 4 June 2018 Round 2: Sep 3 2018 Round 3: Oct 15 2018
Round 1: 2 April 2018 Round 2: 4 June 2018
Duration
18 months (2 sessions)
24 months (2 sessions)
24 months (2 sessions, 12 intensive weeks)
Type
Full-time (Monday to Friday) International Exchange Programme 12 weeks corporate internship with different organisations within and outside Nigeria
Part-time Fridays: 1.30 p.m. - 8.00 p.m. Saturdays: 9.00 a.m. - 2.00 p.m.
1 intensive week in 2 months: during the intensive week, classes will be Mondays Fridays : 8.30 a.m. -5.30 p.m. and Saturdays: 9.00 a.m. – 2.30 p.m.
1 intensive week classes every semester 1 week international module (optional)
1 week international module (compulsory)
Current Fees*
N2,511,630 per session*
N3,500,000 per session*
N3,100,000 and $2,500 per session*
Application Fee
N5,000
N5,000
N5,000
N10,000
N10,000
Entrance Call Tractrain: 08033557712, 07035375441; Examination Fee Total Ascent 08104224268, 07062100023; Bellaz 08060725686 OR log on to www.mba.com OR www.ets.org
* The fees are for 1 session, and cover tuition and course materials. They are payable in installments and also subject to review Full and partial scholarships are also available
Register NOW for a webinar and/or an information session at www.lbs.edu.ng Applications can be filled online at www.portal.lbs.edu.ng
Further Enquiries Ifeanyi Ajaebili 234-708-007-0527 Ndubuisi Obiapi 234-808-429-6796 Olusegun Osoneye 234 -808-672-6690 Email: mba@lbs.edu.ng
Lagos Business School, Pan-Atlantic University, Km 22, Lekki-Epe Expressway, Ajah, Lagos Tel: +234-8025014623-4; 08058048473 www.lbs.edu.ng
Lagos Business School is ranked with the world's top business schools for 11 consecutive years. LBS is ranked in open enrolment executive education (2007-2017) and custom executive education (2015 - 2017). Financial Times, London
Full-Time
Young Professionals & Managers
International Exchange Programme
Jobs & Internship Placement
Modular Executive MBA
Top/Middle Level Managers
Compulsory International Module
Strategic Networking Opportunities
Executive MBA
Top/Middle Level Managers
Optional International Module
Strategic Networking Opportunities
64 | Alumni Benefits
MONTH
PROGRAMME
NOTE
Jan 25
Alumni Session 1 – Lagos Island
Lekki
Feb 8 Feb 15 Feb 22
Alumni Session 2 – Ibadan Alumni Session 3 – Abuja Alumni Session 4 – Lagos Island
TBC Grand Towers Old LBS VI
March 10 March 15 March 22
Speed Networking Island Alumni Session 5 – Port-Harcourt Alumni Session 6 – Lagos Island
Lekki Golden Tulip Hotel Old LBS VI
April 21 April 26 April 21 – 30
Reunion for Classes of 2008 Alumni Session 7 – Mainland IBRC Study Trip to the USA Footprints 1st Edition
TBC Venue TBC
May 7 – 11 May 10 May 24
Study Trip (tentative) Networking Lunch – Island Alumni Session 8 – Abuja
Singapore Venue TBC
June 23 June 28
President’s Dinner Alumni Session 9 – Port-Harcourt
Venue TBC Golden Tulip Hotel
July 14 July 26
Ibadan Zonal Dinner (tentative) Alumni Session 10 – Lagos Island
TBC Old LBS VI
August 30
Alumni Session 11 – Lagos Island
Old LBS VI
Sept. 20 Sept. 27
Port-Harcourt Zonal Dinner (tentative) Networking Lunch-Mainland
Golden Tulip Hotel Regent Hotel Ikeja GRA
Oct 6 Oct 11 Oct 25
Speed Networking Mainland Abuja Zonal Dinner (tentative) OMP Hangout
NECA House, Ikeja CBD Transcorp Hilton TBC
Nov 15 Nov 22 Nov 29
Alumni Day 2018 Alumni Session 13 – Ibadan CEP Hangout Footprints November Edition
LBS Lekki Campus
LBSAA EXCO MEETINGS: Jan 23, April 10, June 6 and Oct 3 GOVERNING COUNCIL MEETINGS – Feb 17, May 19 and Nov 10 Executive Programme Graduation: Convocation Ceremony: December 1
Calendar of Events | 65
2018 CALENDAR OF ALUMNI EVENTS
66 | Calendar of Events
Calendar of Events | 67
68 | Calendar of Events Custodian House, 16A Commercial Avenue, Sabo, Yaba, Lagos. Tel: 01-2774000-9, 0700-CUSTODIAN (0700-287863426) Visit us on the web today at http://www.custodianplc.com; email: enquiries@custodianinsurance.com for your free rate quote!