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Mistress of all trade CEO Bodex Group Talks About How She Hawks in Lagos Streets to Dining with Kings

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Enjoy this interview with the graduate of industrial chemistry.

When did the journey begin and why so many areas of interest?

I started in 2007, but now I have three companies—Bodex Beauty House, Bodex Media and House of Bodex— all under one umbrella, Bodex Group International. However, I really don’t have particular areas of interest. All I do is start a business. The outcome determines if I should continue or not. Once the outcome is good, then it becomes the area of interest. It must have been due to my childhood experiences. While growing up, I had this mentality that too much of comfort is deadly and coming from a polygamous family made it tougher. I started hawking because things turned out unpleasant. I hawked ‘puff-puff’, bread, biscuit and more. My late father was rich, but when your father loved a set of people more than you and will pay their school fees first and delay yours, you should know you have to work hard. So I vowed to be successful and stand on my own to change such narrative.
However, capital is the most difficult in any business, especially when you are, well, not from a well-to-do family or couldn’t save money. But once you have passion for anything, the spirit of wanting to succeed automatically becomes your capital. For my shoe company, for instance, I didn’t start with one naira. I made some shoes for myself, wore them around and people liked them. When they asked that I make for them, I said it is pay before production. Someone paid N50, 000 for some and I made a profit of N20, 000. And it has been like that. As I said, your passion is your money, before you start cashing out.


You studied Industrial Chemistry; at what point did you delve into public relations and why?

I felt I had free internet and time in the office while working as personal assistant/secretary to Jimoh Ibrahim in 2014. So, I decided to start what I called ‘play play blogging’ instead of wasting time. I began blogging about my daily activities, posting about myself, my everyday experience with people, my mode of dressing and more. I never knew some important people noticed and were constantly reading my ‘play play’ blogging. When it was time for 2015 elections, I was contacted through my blog and invited to meet with the then President Goodluck Jonathan on media grounds. After my meeting with him, I was asked to be his Media Consultant and my job was to organise bloggers for press briefing, adverts and a lot more.
I pulled that crowd and His Excellency was amazed and impressed. From then onward, I decided to add PR consultancy to my job and since then, I have consulted and is still consulting for government, public and private individuals and organizations.

Did education and/or training help?

Yes. You need them. You must keep learning. Though a graduate of Industrial Chemistry from Olabisi Onabanjo University, Ago Iwoye, Ogun State, over the years, I have taken trainings across sectors. These include HSE Competence Development Training, Basic Fire Safety, Effective Communication, Value-Based Customer Service, shoe, belt and bag making, How May I help You Programme and Google News Lab, among others.
So, it’s been 12 years of working the public, private and entertainment industry as a digital business woman knowledgeable in social media strategy, digital marketing, blogging, PR consultancy, TV presentation/production, brand management and, of course, as a renowned female cobbler. I have also gained considerable project experience while working with NAPIMS-NNPC, MTN, Global Fleet Oil and Gas. As a PR consultant, I consulted for former President Jonathan; Otunba Gbenga Daniel and former Vice President Atiku Abubakar. I am the PR consultant for La Campagne Tropicana and do jobs for Globacom, Lagos State government and some entertainers.


I read about you in a Turkish shoe factory

Yes, I was in Turkey to partner with one of the biggest shoe factories so I can start large scale shoe production. I also went to check out new shoe-making machines and their cost. During the tour, I realised that so many things I use my hands to make here in Nigeria can actually be done with some specific machines designed for such purposes. I also got to know that the Turkish government has some money set aside for entrepreneurs, who have talent but no capital.

Do you have your eyes on the foreign market?

I am already in the foreign market. I currently have two offices in United States where I sell my footwear and both whites and blacks love them. I also have clients in Dubai, London, Ghana and South Africa. Many of them buy from me and resell over there.

Let’s say you have the powers. What would be the one thing you will do to boost entrepreneurship in Nigeria?

I will create an open market—online or offline— where entrepreneurs can showcase their craft with maximum media buzz. But for now I, am into a women empowerment scheme called Bodex Exceptional Women Initiative, BEWI, which aims at training, promoting, showcasing, influencing and empowering exceptional women in men-dominated professions. Although a new initiative, we already have Mrs Toyin Saraki on board. The first summit will be in October, God willing, and we have young girls submitting entries to be part of it.

What business principles have helped you and, in retrospect, what mistakes did you make that you would advise entrepreneurs against?

The personal business principle that has helped me over the years, and still helping me, is sticking to whatever I believe or have passion for; as long as it keeps people talking, then that’s good business. I have made a lot of mistakes, such as ‘chopping’ my profit and then ending up spending from capital. Again, I combined my personal account with the business account, which isn’t good for business. Every business owner should separate personal account from business account.

What gives you the most satisfaction?

My home.

Business

Court orders Binance to release comprehensive data of all Nigerian users to EFCC

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A federal high court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission (EFCC) with the comprehensive data or information of all persons from Nigeria trading on its platform.

Emeka Nwite, presiding judge, gave the ruling on an ex parte motion moved by Ekele Iheanacho, EFCC’s lawyer, on February 29.

“The applicant’s application dated and filed 29th February 2024, is hereby granted as prayed,” the judge held.

“That an order of this honourable court is hereby made directing the operators of Binance to provide the commission with comprehensive data/information relating to all persons from Nigeria trading on its platform.”

The ex-parte motion, marked: FHC/ABJ/CS/259/2024, was brought pursuant to Sections 6(b), (h), (I), 7(1), (a)(2), and 38 of the Economic and Financial Crimes Establishment Act, 2004 and Section 15 of the Money Laundering (Prevention and Prohibition) Act, 2022 (as amended) and the inherent powers of the court.

In the affidavit in support of the motion, Hamma Bello, an operative of the EFCC, said following the inauguration of the Technical Committee on Currency Stability and Forex Manipulation by the ONSA, the special investigation team (SIT) “received an intelligence stating the nefarious activities (money laundering and terrorism financing) on Binance, a cryptocurrency exchange platform”.

“That on receipt of the intelligence, the team began investigation by conducting surveillance of the activities of the platform,” Bello said.

“The team uncovered users who have been using the platform for price discovery, confirmation and market manipulation which has caused tremendous distortions in the market, resulting in the Naira losing its value against other currencies.

“The damage the platform has caused was clearly explained to the operators of the platform and they were requested to delist the Naira and avail the ONSA on the activities of the Nigerians on their platform.

“The information afforded to the team by Binance shows that the total trading volume from Nigeria in 2023 alone stood at $21.6 (twenty-one billion, six hundred million dollars).

“Attached and marked as Exhibit EFCC 1 is a copy of the document from Binance to the ONSA stating this fact amongst others.

“That the commission will ensure that investigation is conducted within such reasonable time.”

Bello stated that the information would help the panel with its investigation, and that the subject was of the utmost urgent public interest.

He claimed that granting the application was in the interest of justice because rejecting the request would seriously impede the commission’s inquiry.

BACKGROUND

In February 2024, Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, said Binance and other crypto platforms should be banned from operating in Nigeria.

Onanuga had accused Binance of “blatantly setting exchange rate for Nigeria,” and hijacking the role of the Central Bank of Nigeria (CBN).

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FG releases N12.7bn for prepaid meters in army barracks nationwide

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Adebayo Adelabu, minister of power, says the federal government has released N12.7 billion to provide meters in army barracks across the country.

Adelabu said the amount is from the N40 billion earmarked for the mass metering project, according to a statement by Bolaji Tunji, his special adviser on strategic communication and media relations, on Monday.

The minister, who spoke during the flagoff of the metering exercise at the headquarters of the 9th brigade of the Nigerian army, Ikeja Military Cantonment, said the exercise would be in phases.

He said the Ikeja cantonment is the first phase of the exercise, which would last for six weeks before the second phase begins.

“Mass metering in army formations nationwide will enable us to know what is being consumed on a monthly basis in order to ensure appropriate billings and ease collections,” the minister said.

“The overall intention is to eliminate and make estimated billing a thing of the past.

“The current exercise is part of President Bola Tinubu’s renewed hope agenda to ensure regular supply of electricity to army formations nationwide.

“This is one of Mr. President’s objectives as contained in the renewed hope agenda to ensure that electricity supply to the armed forces is prioritised and they do not suffer, especially in the enjoyment of public utilities.”

Adelabu said the smart meters being installed are tamper-proof and would eliminate energy theft.

He said it would be difficult to bypass the meters which also come with an app where customers can get statements of their consumption on a monthly basis.

The minister added that the meters allow interconnectivity between grid and off-grid solar power supply.

According to Adelabu, part of the energy blueprint for the country involves building off-grid power sources such as solar energy for military barracks located in remote areas without grid supply.

He said where there is a grid supply, there would be an interchange between the grid and solar supply if not satisfied with the number of hours supplied by the distribution companies (DISCOs).

“Beyond metering, we have to prioritise electricity supply to the barracks,” the politician said.

On his part, Ashade Olatunbosun, chief executive officer of De Haryor Global Services, said the second phase of the project would begin in Abuja and Enugu, simultaneously.

He said military formations across the 11 electricity distribution companies (DisCos) would benefit from the exercise.

“Army formations in Jos, Abuja, Ibadan, Enugu, Kaduna, Ikeja and Eko DisCos will benefit from the exercise,” Olatunbosun said.

Speaking earlier, Adegoke Adetuyi, commander of the 9th brigade of the Nigerian army, Ikeja, said the federal government’s metering initiative was timely as the brigade headquarters had been getting epileptic power supply over time.

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CBN fires some directors as Cardoso commences reorganization process

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The are reports that the Central Bank of Nigeria (CBN) has sacked at least 5 directors in what seems like the commencement of reorganization process at the apex bank.

Reliable sources familiar with the internal workings of the bank told Nairametrics that the affected officials have already received termination notices since March 15th, 2024.

Although details and reasons for the sack of these top officials still appear quite unclear, sources within the bank revealed that the directors affected include Trade and Exchange Department, Securities Department, Development Finance Department, as well as Purchasing and Support Services Department.

These directors, according to sources, were initially reassigned to FSS 2020, a division of the bank under the Governor’s Directorate located in the Maitama District of Abuja on November 24th, 2023, and kept in a holding pattern for further directives.

Samuel Chukwuyem Okojere, Abdulmumin Abdulsalam Isa, Dr. Elizabeth Amos Kwaghe, Dr. Maureen Omolola Chukwurah, and Mr. Arinze Stanley were among the directors who were transferred to the FSS 2020 division on November 24th of the preceding year.

The sources could not verify whether those being disengaged have been implicated in any wrongdoing.

However, investigations by Nairametrics shows that the affected directors had headed departments of the apex bank under the tenure of Godwin Emefiele, whose activities have been under scrutiny by the current administration.

A source at the corporate communication department who confirmed the disengagements noted that told Nairmetrics that there is no official statement on the development yet.

According to the reports, the news of this impending dismissal has been widely circulated since last Thursday.

The decision still shrouded in confidentiality from the media, has stirred considerable apprehension among CBN staff, who fear it may herald further job cuts under the current management of the banking regulator.

Before this latest development, the CBN had relocated no less than 150 employees from the Banking Supervision Department (BSD), one of its 29 departments, to Lagos. The BSD operates under the Financial System Stability Directorate of the CBN.

The relocation had sparked heated controversy nationwide, with many individuals from northern regions alleging an attempt to displace northern staff from the institution.

However, the CBN dismissed these allegations, maintaining that it was part of a necessary restructuring to ensure thorough onsite examinations of the country’s 24 banks, most of which are headquartered in Lagos. Additionally, the bank cited the need to alleviate congestion at its corporate headquarters.

There have been widespread allegations that political figures abused their privileges during the Buhari Administration to secure positions for their relatives in the CBN, resulting in redundancies. Consequently, many staff found themselves without proper office space or equipment, such as chairs and desks, at the bank’s headquarters.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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