SOFEE BUSINESS RIVIVAL 2017

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CENTAL BANK OF NIGERIA (CBN) INTERVENTION FUNDS AND THE RESURRECTION OF THE BANKERS EQUITY FUND

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  A couple of days ago I was pleasantly surprised by the announcement that the Central Bank of Nigeria  ( CBN ), has released the modalities for the operation of the 26.87 billion Naira Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) which was approved by the Bankers Committee at their meeting held in February this year (2017). They agreed under the persuasion of the CBN to set aside 5% of their Profit after Tax (PAT) annually to create an equity fund with which they will invest in Agri-Businesses and Small and Medium Scale Enterprises (SMEs), including start-ups. So soon 26.87 billion Naira has already been raised and an SPV named Bankers Fund Managers Ltd is up and running, geared to begin investing.     I was excited that the CBN is pushing on all sides to provide investible capital to complement the various intervention development loans it has been pushing to help heal a major disease afflicting Nigeria's small businesses - poo...
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NOW THAT APC HAS BECOME 'SUPREME',CAN THE 8TH ASSEMBLY BEGIN BUSINESS?

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When the history of the present political dispensation superintended by the Ruling Party-APC will be written, so many unique developments will be highlighted. One is that the President of the Federal Republic has run this country for the first time as a 'sole administrator'.Never in the history of our a nation have we seen this. Even throughout  the many years of the military rule in our country, including the years of the civil war, no Head of State or President has adopted this style of running Nigeria. As at today, all the Permanent Secretaries of all the ministries and heads of all the several Departments and agencies of government report directly to the President. What a large span of control! Since there are no ministers and no Federal Exective Council (FEC),we have the nearest example of absolute executive power being exercised by one man.    This may not be necessarily bad as it allows the President to take decisions without much arguments and delays. The ci...
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EMPOWERING PHARMACISTS TO CHECK DRUG MISUSE & ABUSE IN NIGERIA

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In the year 2001 or thereabout, I was a member of a delegation of the Nigerian American Chamber of Commerce (NACC) that visited President Olusegun Obasanjo at Aso Rock. The delegation was led by the President of the chamber at that time, Chief (Mrs) Priscillia Kuye SAN. When Mrs Kuye finished addressing the President, she graciously requested if I had something to add. I rose up to grab the opportunity. But before I would speak, she introduced me to the President as a Pharmacist and Chairman/CEO of Neimeth International Pharmaceuticals Plc, a successor company of Pfizer Products Plc. As I tried to open my mouth, the President charged at me, “You Pharmacists, you are the ones that import Fake Drugs into the Country!” . I was stunned, but quickly remonstrated that his statement was untrue. When he insisted, I told him emphatically that no trained and licensed Pharmacist will deal in fake, adulterated or counterfeit drugs, except if he was insane (mentally deranged) or did so unknowin...
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