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Anyone in the world

“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
― Thomas Jefferson

Nigeria’s top 5 banksFirst Bank, UBA, GT Bank, Access Bank and Zenith Bankmade a total revenue of N1.57 trillion for the first half of the year (H1 2020). This is according to the information contained in the financial statements of the banks, released on the Nigerian Stock Exchange (NSE).

Here is a comparative analysis of the performance of the aforementioned banks;

 Revenue

 The FUGAZ banks made a total of N1.57 trillion as revenue. Access Bank led the chart with N396.76 billion, followed closely by Zenith Bank with N346.08 billion, UBA with N300.61 billion, First Bank with N300.14 billion and GT Bank with N225.14 billion.

In terms of changes in their total revenue, the FUGAZ all recorded increases in their total revenues, as Access Bank’s revenue increased by 22.31% from N324.38 billion to N396.76 billion, while UBA declared a 2.24% increase in revenue from N294.03 billion to N300.61 billion.

FBNH recorded a 1.11% increase in total revenue from N296.85 billion to N300.14 billion. GT Bank recorded 1.47% increase from N221.87 billion to N225.14 billion. To cap it, Zenith Bank also recorded an increase in revenue of 4.37% from its initial figures of N331.59 billion to N346.088 billion (June, 2020).

 The revenue increase of these banks is attributable to the digitization of the banking system, as banks have digitized their payment and transaction platforms, adopting mobile apps, USSD codes, internet banking and social media as veritable tools.

 Profit After Tax (PAT)

 Zenith Bank Plc’s Profit After Tax increased from N88.88 billion to N103.83 billion, indicating a 16.8% increase. GT Bank’s PAT decreased by 4.8% from N99.1 billion to N94.3 billion, while UBA’s PAT declined by 21.7% from N56.74 billion to N44.43 billion. FBNH’s PAT increased by 56.32% from N31.64 billion to N49.46 billion, while Access Bank’s PAT decreased by 1.36% from N61.87 billion to N61.04 billion.

 Return on Asset

 The FUGAZ banks recorded a decline of their Return on Asset (ROA) with an aggregate ROA value of 1.05% lower than the H1 2019 value at 1.27%. In terms of ROA value for H1 2020, GT Bank led the chart, followed by Zenith Bank, Access Bank, FBN, then UBA.

 In terms of Price-to-Earnings, it was a mixed result as the values of Access, FBNH and UBA appreciated, while GT Bank and Zenith recorded mild declines in terms of their historical records, or the measure of their share prices relative to their per-share earnings.


 
Picture of Elizabeth Ayo-Vaughan
by Elizabeth Ayo-Vaughan - Tuesday, 8 September 2020, 12:21 PM
Anyone in the world

The last time I sat on a table to study hard for an exam was August 3rd 2012. I remember vividly because August 4th was graduation. I could not wait to get out of college and start a job because this academic life was not for me. 

Anyway, fast ward to now, history repeats it self with three finals on the way and the race with myself to do exceptional well is on again, and yes it is personal. 

As can be read, the motivation is to do well and to do well, one must plan. Working and going to school has not really been easy but with proper planning, I have been able to scale through (barely). So its time to double down. As with many things in life, there are also social responsibilities that you cannot really do without and that can also be prioritized as well without sounding like a total nuisance  to the others or be the "is-she-the-only-one-that-is-busy" kind of person.

So here are some tips on how I planned my time (this will be more helpful for WFH folks)

Get up at a set time: I can not tell you how important this is, Sleeping in for an extra hour messes up everything because there is so much to be done. The earlier you wake up the better. Lockdown holiday has finish. Be wise. Exam is coming so wake up at 6:30am

Set the time for prayer or/and exercise, use an alarm clock to help you. 

Pick the duration of time for office  work. I will recommended 6 hrs. In Japan,people are seen to be more productive when they spend 5 hrs to work than 8 hrs working. 

Have rest time and social media time too. I'm not an advocate of cold turkey behavior. Yes you can cut time wasted but leave a little to lounge to avoid brain fatigue.

Dedicate an hour to two hours on catching up with other things

Set time for your study and then time you want to go to bed.  In all, make sure you have 6hr of sleep. Its more healthy. Typical study time for me is from probably 8-1 am. Breaks in between of course. 

To be more energized, I have noticed exercise helps a lot. Gets that dopamine flowing, gives you a lot more energy during the day with little possibility of feeling tired (exception is driving in Lagos monstrosity of a traffic). 

Eat better too. Athletes eat banana because of its high potassium that helps feed the muscles. Also potassium is one of the key elements for neurotransmitters along with Sodium. Feed your brains with one banana a day. smile

With these little day tips, I hope I gave you some ideas on how to manage time. 



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Picture of Edward Waji
by Edward Waji - Tuesday, 8 September 2020, 11:23 AM
Anyone in the world

I have tried it a couple of times but it’s not just working so I decided to quit trying to figure out why I don’t budge when it comes to soccer.

First of all, there are very few things I would rather watch than do, and for some weird reason, I don’t get much delight from the vicarious experience of watching players on a field.

I have seen the passion with which ‘fans’ from all over watch this game. I have also seen people get all aggy when ‘their’ team loses a game which I just don’t understand. A game is a game, so why sweat it arguing about it?? 

That is the exact part of me I am unwilling to trade for a sport. No doubt, there have been instances where I had to watch the sport and people around were quick to spot the zero enthusiasm I showed. I have been asked questions about what clubs I support and all of that, most of the time, they even try to me feel like the odd one out.

I like to think that our hopes and passions are only worthy of us when they are anchored in something far beyond a popular game.

Well, I hope it all lines up for me someday… I might just become another Barca or Arsenal fan. 


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Anyone in the world

The Central Bank of Nigeria released a public notice depicting digital currencies (Bitcoin and co) not regulated and can collapse. Digital currencies are not just naturally volatile. Government contributes to that misfortune. I like to list some of it.

  1. Lousy news hurts adoptions rate 
    When you hear about corruption news about digital currencies and some terrible news from the government regarding the adoption of digital currencies, expect that such incidents and the public panic that followed will drive the value of cryptocurrencies versus fiat currencies down rapidly. We have seen that play out with our fiat (i.e. government-issued currencies) based stock-exchange as well. Adoption rate plays a vital role in value and evaporation. 
  2. Power of Perceived Value 
    Cryptocurrencies are somewhat in properties related to other commodities such as Gold, which is highly backed by the government. For example, the design of Bitcoin is pegged around 20 million BTC (Bitcoin), which extensively differ from fiat. The government created economies of value around commodities like Gold, and it makes it easy for any investor to perceive the value of cryptocurrencies to be way less valuable, and that may make investors invest low or high in it.
  3. Security breaches cause volatility
    Nobody will like to hear a sum of BTCs was hacked away and feel very safe to invest in the same space. Incidents such as security breaches contribute to volatility. Maybe because of anonymity built into cryptocurrencies which I believe is a myth. That perception you cannot trace where the money went to is a lie. Companies trading in this cryptocurrency space have tried to produce so much security around wallet/account holders to secure their asset. KYC, etc. It will only get better sincerely. A myth around Bitcoin being anonymous is not valid. Research has proven it not to be anonymous. Bitcoin, is pseudonymous, rather than anonymous. Having worked in this space of expertise, we always know who sends what, when, where, and how. I think it is an advantage. If the government is worried about money corruption such as money laundering, they are just concerned for nothing, and they better get into it and regulate things. I even also do share a belief that no fiat (government-issued currency) based Bank is safe/secured. 

I can go on and on and share insight as to why cryptocurrencies are volatile, but I have to keep it short so as not to go beyond my planned threshold. The concern shared by the Central Bank of Nigeria and some of my colleagues regarding cybercrime is not a good reason to frown at the new currency technologies. The Pen Infused Embezzlements (PIE) of money we have in Nigeria is way worse than the crimes we experience with technologies. Everything in life has a backdoor, everything is safe, and nothing is safe. 

Nigerian Government shout digital currencies are volatile and not regulated. I really like to as that what is the value of the Naira they regulate/handle? Valueless, you want to say.

I hope this has been informative to you and I like to think you for reading. 

[ Modified: Monday, 7 September 2020, 1:11 PM ]
 
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by Uchenna Onyenakasa - Monday, 7 September 2020, 9:11 AM
Anyone in the world

During the last quarter of 2019, we had it very rough in my department. We had a lot of work to do that we were almost drowning in it. From our Head Office, an instruction was given that we must do everything possible to close out those jobs before the first quarter of 2020 without compromising the standard. Management gave us a blank cheque to get all the resource we need.

Having gotten the needed help, we were able to meet the deadline not without some toll on our sleep and rest. But the question on my mind was: why didn't we see these numbers coming? Why were we not able to start asking for help on time, hoping that we could cope?

As we approach the last quarter of the year, our numbers are rising again; the pressure is mounting gradually. I was wondering if we were going to get into the same situation we were in last year when I got a communication from my Line Manager to advise on ‘our situation’. What a coincidence.

I was wondering how to give an answer with facts; how to anticipate what could possibly happen in the last quarter when the thought of Forecasting and Prediction that the gentle Dr Francis Okoye thought us flashed on my mind. I had forgotten how to use it even though I have not even written the exam. But I went back to my note, revised it and used it with gratitude.

I already have the data on the number of jobs we previously close in my team each week. I also know the number of new jobs we receive from our hub each week. With these data, using the Excel and implementing what Dr Francis taught us, I was able to forecast the number of jobs we will be expecting and the number that we can close. The forecast clearly showed that if we do not increase the number of jobs we close each week by at least two percent, we will be in the state we were last year. Should we dare to be in such state again this year, I am certain that the consequences will be much.

Data Analysis did come to the rescue and we have taken the right decision to increase our output a little to not only save our job but to also save the pressure we may be in by the last quarter. This forecasting also helped us in eliminating working under pressure which is prone to a lot of error.

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[ Modified: Monday, 7 September 2020, 9:16 AM ]
 
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by Oluwasegun Babaleye - Sunday, 6 September 2020, 12:00 AM
Anyone in the world
A Marketing plan can be termed as a document that details the advertising strategy of an organization towards generating and achieving a link up with its target market. This plan details the outreach and strategies to be undertaken over a period, this also includes how the company plans to measure these initiatives.

 This plan includes but is not limited to the following:
 1. Product pricing
2. Strategies for market entry
3. Plans that target certain geographic areas or demographics
4. The channels to reach the consumers
5. Measurement and a feedback mechanism to gauge the results of the strategies.
   
A marketing plan should put the value proposition of a business into focus because this is the overall promise of the kind of value the customer should expect. This should speak to how the company aims to solve a customer's problem or the kind of service it is planning to give to the customer. Following the creation and completion of a marketing plan, the most important aspect thereafter is the execution. Without a proper execution strategy, the plan is bound to fail.
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Picture of Efe Rhima
by Efe Rhima - Saturday, 5 September 2020, 11:32 PM
Anyone in the world

In our Marketing class today, we where taught that every product should have its own marketing planning. It is also important to know that marketing can be expensive and it is always advisable a budget should be set fr this purpose Below are some of the features and advantages of marketing planning:

  • Marketing planning helps you know here you are going (your objective)
  • It helps you identify your SWOT and demography
  • It helps to set controls to monitor if your are on track
  • It helps to identify what we wan and how to go about doing it
  • helps us to understand the market, internal and external environment, key competitors, products and brands
  • Helps us to analyse the marketing mix 

Some of the key sections of a market plan are listed below:

  • SWOT analysis / situation analysis
  • objectives
  • target market
  • sales plan 
  • budget 
  • control ( Tracking and evaluation)
  • marketing mix action plan 
  • strategy

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Picture of Efe Rhima
by Efe Rhima - Saturday, 5 September 2020, 11:31 PM
Anyone in the world

In our Marketing class today, we where taught that every product should have its own marketing planning. It is also important to know that marketing can be expensive and it is always advisable a budget should be set fr this purpose Below are some of the features and advantages of marketing planning:

  • Marketing planning helps you know here you are going (your objective)
  • It helps you identify your SWOT and demography
  • It helps to set controls to monitor if your are on track
  • It helps to identify what we wan and how to go about doing it
  • helps us to understand the market, internal and external environment, key competitors, products and brands
  • Helps us to analyse the marketing mix 

Some of the key sections of a market plan are listed below:

  • SWOT analysis / situation analysis
  • objectives
  • target market
  • sales plan 
  • budget 
  • control ( Tracking and evaluation)
  • marketing mix action plan 
  • strategy


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Picture of Antonia Oguntubi
by Antonia Oguntubi - Saturday, 5 September 2020, 11:24 PM
Anyone in the world

A goal is what a company is trying to achieve for example increase market share

An objective is what the company is specifically trying to achieve for example increase market share by 20%

A strategy is how the organization intends to achieve its goals and objectives, for example, give discounts.


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Picture of Olaoluwa Afolabi
by Olaoluwa Afolabi - Saturday, 5 September 2020, 6:37 PM
Anyone in the world
One of the questions that were asked today in my Marketing class was the critical/key sections of the marketing plan. Having worked on ways to increase my company's userbase, I remember, I consumed those key sections of marketing plan just for knowledge sake as a Software person. Fortunately, my instructor did not ask me to give explanations to what I listed in the class, so this blog is about putting the resolution to those key sections.

What are the key sections of the marketing plan? They are:

  1. Situational Analysis
  2. SWOT Analysis 
  3. Goals and Objectives 
  4. Strategy and Plan 
  5. Budget 
Let us go through them one by one in a minimal explanation of what they are:

  1. Situational Analysis: This analysis pertains to information about a current event within the business, such as business performance and mostly where it stands in the market.

  2. SWOT Analysis: This gives information on the company's Strengths, Weaknesses, Opportunities, and Threats. You do this analysis to analyse how to make your company/product better than the competition.

  3. Goals and Objectives: It is essential to list your goals and objectives so as not to be lost. A good goal example is to increase profitability by 50% this year. Then you set the objectives that will make you achieve your goal, such as listing your product on e-commerce cart like Instagram, Facebook, Amazon.

  4. Strategy and Plan: Marketing strategy sections includes data about how the business and its items/products will be advanced and promoted.

  5. Budget: Budget is as what it sounds. You have to list financial expectation or forecast to how you will accomplish your marketing plans.
I hope this has been informative to you reading this blog, and I like to thank you for reading. Thank you.