Case 2: Dilemma (Discussion)

I got some interesting responses on this study. Some were of the opinion that he should save his mother and use the loan to pay for the surgery.

Another group opined that he should use the loan for the business and find a way to deal with the mother’s surgery.

Someone even said he should liquidate the loan immediately. Truth is that there is no right or wrong answer because reality might demands a totally different approach. Thanks to all for sharing your thoughts.

Anyway, here is my opinion, ideally your business account should be distinct from your personal account, and if it was the case with Biodun, he will not even have access to the 1.5m let alone use it for the mother’s surgery.

This leads me to the moral of this story, if you want your business to succeed;

1. Keep your business away from personal stuffs

2. Have structures and processes in place that deters drawing from the business, e.g get other signatories to the account

3. Have a Board of Directors or Mentors whom you are accountable to.

4. Pay yourself salaries and save for your personal needs from the salary

5. Sign up for some sort of medical insurance, they help prevent a lot of crisis that could consume your life savings.

For more tips on running a successful business, let us meet on 24th February 2018. See details in the flier below.

Have a great week.

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

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Case Study 2 : Dilemma

Biodun took a facility of 1.5 million naira from XY Microfinance Bank to inject into his business. Biodun sells electronics at one of the busiest malls in Ikeja. He makes good turnover but has been unable to meet demands lately. Some corporate bodies have lately started requesting for wholesale supply and 30 days payment terms.

Barely two hours after Biodun got SMS alert for the loan disbursement, he got a call from his sister. She sounded frantic and alarmed. Biodun’s 65 year old mother slumped and has been rushed to the hospital. The doctor diagnosis is a dangerous heart condition that can lead to death within 72 hours if not operated.

Biodun rushed down to Ibadan to see her mother who is still in coma. The surgery would cost 1.5m. Biodun is the eldest of three and his siblings are still in school.

What should he do? Should he use the bank loan to finance the surgery? 

Share your thoughts.

Good morning and have a great week!

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

Case Study 1 – Broken Love (Discussion)

Good morning and Compliments of the season. Trust you had a great weekend. For some of us, we resumed to work last week, while for some we are just resuming today. There is also school resumption today in most places. Here is wishing everyone a pleasant and fulfilling 2018.

Back to our story on the Abioyes, I shared the story two weeks ago (you can visit my blog http://www.adewumioni.com, if you missed it).

Some questions were raised, and here are my views:

1. Where did the Abioyes get it wrong?Upward change in wealth usually tempts us to buy new cars, houses or some fancy vacations or clubs. We start spending less time with our family, which is where the Abioye’s got it wrong. Did they need a maturing girl alike Ebele as an househelp? Maybe, but she should have been enrolled in school also.

2. Should David have told his wife when he stumbled into Ebele scantily cladded?

Absolutely. She would have been able to scold Ebele and plant some fear in her.

3. What should they do?

I believe Ebele needs to leave but they both have to take responsibility for her upkeep before and after delivery. They need to inform her mother and probably secure accommodation for Ebele and her mother.

4. What are the learning points of the story?

Consider well before accepting juicy job offers, they come with a lot of baggage that damage homes.

Don’t be in a hurry to change your status when your wealth increases. 

Spend more time with your spouse.

Be man enough to tell your spouse or a reliable mentor, when you are having strange feelings for someone other than your spouse. They can help you get over it.

Thanks to those who contributed. I will share another case study next week.

Have a great week!

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

Case Study 1: Broken Love

David and Michelle can be described as lovebirds, they are always in each other’s company. David runs a private consulting firm and business has been so good in the last two years. Michelle on her part got a job in one of the new generation banks, after four years in an insurance company.

The change in fortune for the enviable couple meant change of accommodation. They took a mortgage loan and bought a house in a semi-upper class area in Lekki. It is a five room duplex and so there is extra room for one or two guests, a complete departure from their rented two bedroom apartment at Gbagada.

The problem with this new level is that Michelle spends less time at home returning home late at night and sometimes going on official engagement on weekends. This has left them with no choice than to get a helping hand. 

Ebele is a 19 year old girl who lost her dad while writing her WAEC. Her Uncles took over her father’s properties immediately her dad died from road accident. Her mother was thrown out and their once rosy life took a downturn. Ebele decided to get a job anyhow to save towards her University education and support her mum and two siblings.

Ebele got the job with the Abioyes and was grateful to God. She fell in love with the Abioyes two lovely children (David Junior and Sophia, 5yrs and 3yrs). David and Michelle also took an instant liking for Ebele, who speaks very good English and takes their children like her siblings.

After six months with the Abioyes, David returned back early one mid-afternoon to pick up a document he left at home. He parked outside and rushed in to the sitting room. The sight he met changed his life forever. It was Ebele asleep on the couch in bra and pant. Apparently she fell asleep after finishing housechore and wanted to enjoy the Air Conditioner in the sitting room before going to take her bath.

She was startled awake by the bang of the door as Uncle David ran in. As she stood to dash in the room, her bra fell off because she didn’t hold the strap at the back. She ran and left the bra on the floor of the living room. David struggled to run up the stairs to pick the documents and drove back to work. 

From then on, David’s mind kept replaying the entire scene. He couldn’t tell his wife. Ebele too started avoiding direct eye contact with him, but always caught Uncle David staring somehow at her.

A week after David returned back home around 11am and asked Ebele to prepare early lunch for him and bring it to the bedroom. Ebele woke up at 1pm in the arms of Uncle David after they have had sex. Thus began their steamy affair and was on for months until Ebele missed her period. 

Unfortunately David’s mother came visiting and was the first to observe the change in Ebele’s body. She drew the attention of Michelle to this and after deep interrogation, Ebele was taking for pregnancy test, and it turned out positive. Ebele confessed when Grandma threatened to beat the living day out of her and all hell broke loose. (End of story)

Questions

1. Where did the Abioyes get it wrong?

2. Should David have told his wife when he stumbled into Ebele scantily cladded?

3. What should they do?

4. What are the learning points of the story?

Have a great week!

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

Glad to be Back

Season’s Greetings to all my friends and followers. Thank you all for allowing me take a long and much needed vacation from weekly broadcasts. I am grateful to you all for always allowing me to invade your private spaces with my broadcast. You give me reasons to keep this running.

It is so good to be back and in a new way. I don’t want to wait till January before resuming. Time, they say, waits for no one and time is precious. 

My approach will be different, but I hope to achieve better results, greater participations, increased knowledge sharing and more wisdom.

This new approach will be more of sharing stories (adapted), case studies and quotes, with the intention of  discussing, distilling and sharing morals from such stories, cases and quotes. I will share the stories every Monday and we will discuss it all week while finalising every Saturday, with a short piece on Sundays.

Join me in this interesting journey by following and contributing to the discussions. You can also share your stories with me, and your anonymity is assured.

Thank you and God bless .

Have a great week!

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

​THE PRESIDENT WE VOTED FOR

There is no gainsaying that President Buhari assumed power with the best political capital in Nigeria’s history, both locally and internationally.  His popularity and confidence rating were such that stock prices automatically moved Northward and fuel queues suddenly disappeared within his first two months in office. Though this only lasted for a few months before Nigerians reversed back into its old mode and since then the political capital has been gradually eroded and one wonders what is left of it.
My thrust in this article is therefore to critically discuss the capital (moral, political and economic) that President Buhari brought into power in 2015 and what is left of that capital. 

Before he emerged winner of the presidential election in 2015, he had lost the same bid three times and had even decided to quit until he was ‘purportedly called out from retirement’. Perhaps it would have been better for him to stay retired. My reasons for saying this are not farfetched.

Sequel to his victory in 2015, most Nigerians were tired with the administration of former President Goodluck Jonathan for several reasons. For some, Goodluck Jonathan lacked the political will to fight corruption (which has been adjudged as Nigeria’s greatest enemy). For another, Goodluck Jonathan had ceded the running of the nation to some few elites, who took full advantage of this to the detriment of the nation, squandering and personalizing the nation’s resources. For some others too, Jonathan should never have been President in the first place, having usurped the opportunity offered him by the Constitution upon the death of former President Y’aradua. 

Not to talk of the First Lady’s high-handedness which made her become overbearing, perhaps with more power than the then President himself, breaching presidential protocols on many occasion and causing several embarrassments for Nigerians. 

So, for the majority it was ‘anything but Jonathan’ at the last Presidential election. This mentality was what paved way for old man ‘Buhari’, who many perceived as the exact opposite of Jonathan. Disciplined, firm, resolute in the fight against corruption, vast military experience, with a lot of moral and political capital at that time, having won so much votes across the entire country. 

Alas, times have proved even the staunchest supporters of Buhari wrong. President Buhari since assumption of office, has repeatedly disappointed his believers. Starting with the delay in formation of cabinet, the lack-luster team he formed and the unending strings of allegations of corruptions within his cabinet and government, which have been repeatedly swept under the carpet. 

Just to mention a few, Chief of Army Staff alleged possession of properties worth millions of dollars in Dubai, President Buhari’s certificate saga, suspended SGF’s sleazy grass-cutting deal, the embarrassing revelations about the Police IG and the latest being the allegations against NNPC GMD Maikanti Baru. 

To compound issues, President Buhari has openly shown disdain for some parts of the country through his remarks and appointments. Most of his appointments have been largely skewed towards the North while leaving out the South-East zone completely. Whoever thought President Buhari had metamorphosed into a Nationalist should have a rethink, the Buhari we wanted may have died during that tortuous three times trouncing at the Presidential Polls.

The kid-gloves manner of handling the Fulani herdsmen’s matter is another evidence that the Buhari we envisaged may have died. The Fulani herdsmen have wrecked and continued to do so much damage to people’s lives and properties and yet there is no firm law to checkmate this menace, not even to bring to book those who have marauded innocent villagers. They have become ‘unknown soldiers’ from neighboring countries, yet our military has been firm in dealing with Boko Haram and IPOB. 

Should we even mention his disinterest in the clamour for restructuring, which surprisingly was one of his party’s major campaign strong points? 

While statistics are not readily available to support this, I daresay never have Nigerians being utterly disappointed as they are under this administration, and this has been evidenced in the droves of young and even old professionals who continue to leave the country for better lives in other countries! 

How much of moral, political and economic capital does the President have left? I will leave the answers for the readers to make. However if the Presidency and his team think he has enough to make him the darling of many at the next Presidential poll, they should have a serious rethink. 

Truly, but not in the manner being peddled by some, the Buhari we wanted may have died during his three-time unsuccessful Presidential bids! Or maybe the real Buhari only exists in our imagination!
Adewumi Oni
Published in Independent Newspaper

Sunday 15th October 2017

The Man (4)

First my apologies for the break in this series last week, it was due to some pressing engagements.

I also wish my fellow countrymen and women a Happy Independence. At 57, Nigeria may not be where it is meant to be, but we have left where we used to be and our chances of getting to the desired destination depends on all of us. Yes it depends on You and I. It depends on how ready we are to become accountable.

Accountability is a major prerequisite for success or fulfiling destiny for everyone. Accountability, according to Business Dictionary is the “obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.” In other words, it is stewardship, it is accepting responsibility for one’s actions and consequences, as well as prompt disclosure.

This is perhaps the toughest call on a man, because it requires a lot of sense of submission, humility, self-discipline and integrity. Naturally, men like being in charge, being independent and not having to give account. This is however a sure recipe for disaster. This is the trap most leaders fall into, turning them into dictators and tyrants. 

As a man, you must hold yourself accountable to someone, it may be your mentor, father, religious leader or even God. You must be willing to let someone who is in a higher position put your actions under scrutiny. The moment we all start being accountable, our lives will become more cleaner and this will translate to a better society.

In the same vein, accepting responsibility is another tough call. Every man hates being found wanting, but there is no way that won’t happen from time to time. When it happens, rather than looking for who to blame, you should accept the blame and pick the lessons from the experience. We fall repeatedly when we fail to accept responsibility for our actions.

Be humble enough to share your experience. Sharing your failure experience doesn’t make you weak, it helps to reinforce your resolve not to make the same mistake again. It also helps others not to fall into the same error. Don’t bother yourself about what people will say, be more concerned about what impact your disclosure will have on humanity.

The whole essence of man is in being responsible. Stephen Covey said “Accountability breeds Response-ability”. You can’t be responsible without being accountable. 

At the heart of our problems as a nation is the absence of men of responsibility who are willing to be held accountable. Start being accountable in your own little world.

Have a great week!

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010