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BOOK REVIEW: Leadership Turnaround By Ifie Sekibo

Published

3 years ago

September 3, 2021

Reviewed by: Olukorede S. Yishau

The man Ifie Sekibo is an astute Nigerian banker and entrepreneur adept at returning moribund companies to the path of sustained profitability. He is the pioneer and current CEO and Managing Director of Heritage Bank, Nigeria’s most innovative bank. A post he held since 2012.

He wrote his book (Leadership Turnaround” out of his quest to tell his story from climbing the ladder of success to attain leadership positions. He did not hold back on the failings and challenges he encountered on his way up. From his successful revival of Societe Generale Bank of Nigeria (SGBN), a massive success by any metric, to the creation of Heritage Bank.

Leadership Turnaround is a condensed commentary from a leader who has recorded remarkable successes, failed in some instances along the way, picked himself up and made it a duty to get better. It is the story of a leader, reputed for turning around failed enterprises, as well as having a knack for spotting and nurturing SME’s.

The book downplays what has become the regular leadership clichés, and opted for the language of experience, presented in a dialogic and conversational tone. Perhaps, knowing that the many leadership books hanging on bookshelves are heavily laden with theories, the author adopted a practical approach, which sets it apart from the others.

Written on the premise that “The essence of true leadership is that you impact your local community for a wider benefit,” the author reveals how he turned a dead banking institution into a successful endeavour benefiting thousands and ushering him onto the global stage.

In building brands, for instance, the author admonished Nigerians to build businesses that will outlive their generation. Citing the case of the Arthur Guinness family, the author shared the remarkable story of how the enterprise was handed down generations, through vision, faith, values and commitment.

In Leadership Turnaround, the author made a brilliant analogy of the processes in the fractional distillation column of a refinery, and the process that distils an individual from his raw talent into a fine leader. The book likens the Training School set up for Heritage Bank as the refinery. Leadership needs to go through such catalytic cracking to refine the attributes and qualities from the crude form. In setting up the refinery, the author did not settle for an artisanal refinery for quick fixes, with attendant environmental impact.
Rather, he invested in efficient “fractional distillation columns” for human resource, to refine the leaders he needed to run the organization, prosper and hand it to the next generation.

Sustainability! He set up a solid training school that reached beyond just banking, to teach etiquette, relationship, social assets, law, and many more. He wanted well-rounded leaders.

Leadership Turnaround stirs up an interesting conversation of globalization and the hybrid form, glocalization.

The author admonished young people to substitute the mindset of globalization with that of glocalization, so they can customize their global outlook to solving local problems.

This is an interesting perspective which I consider very apt for Nigerian youths who want to hit the international headlines, without first making headlines in their local ecosystem. The pathway to global success should be facilitated by the local problems you solve. According to the author, this is what set the likes of Jack Ma apart.

An interesting experience shared by the author in this book, is the revival of the dead bank, Societe Generale Bank.

Reviving a failed bank in any country of the world is never easy. In Nigeria, this is even more difficult. In fact, it could be as difficult as raising the dead. You will need the faithful sisters Mary and Martha, as well as the son of God, all present and joined together in faith, to call “Brother Laz” back to life. And yes, that did happen; not literally, but in some sense. The author and his team (the Mary’s and the Martha’s) apart from the vision, commitment, positive thinking and resources, also relied on faith. Yes, you need faith to dream of getting over 200 bank customers to withdraw their cases in a single day and settle out of court. This account was intriguing, and loaded; albeit, told with such simplicity that demystified what ought to be a complicated success story.

The author reached for examples, case studies and scenarios from different perspectives. He made a lot of Biblical references, not surprising, as a section of Leadership Turnaround was on the role of faith in leadership. In one analogy he cited the power of single-mindedness and unity of purpose, as exemplified in the Biblical tower of Babel, which struck a chord with me. I have often used this analogy while teaching the role of Protocol in Computer Communications and Networks, and it epitomizes the power of a common understanding and mindset. Once a team is united and have a single mindset, it is difficult to defeat them. God identified this in the case of the tower of Babel. The author highlighted this as an important ingredient for success in the corporate space.

The book has several “Take Action” stopovers after each chapter; where readers are refreshed with simplified but impactful action points. The lessons that follow each are drawn from the real world of successful business enterprise. So much was covered in such short space. Some of these include lessons on the complexities of the world of mergers and acquisition; lessons on dealing with soft issues; lessons in Emotional Intelligence; lessons on having the right mindset; lessons on visioning and the kinetics of visioning; lessons in entrepreneurship; the importance of hitting the road, and gaining traction.

In Leadership Turnaround, the author did not hold back on the failings and challenges he encountered on his way up. From his successful revival of SGBN (a massive success by any metric) to the creation of Heritage Bank, and to the quickfire acquisition of Enterprise Bank – which turned to be a poor decision on timing. The author shared these lessons to illuminate the path of the reader, so the mistakes are not repeated. Mistakes are not to be buried and filed out of memory; they can be converted to steps on the ladder on the way to the top. They form part of the script of success.

The author once shared with us the role of chance in the Nigerian business terrain. While I agree with him, I would add that you need to be deliberate to take your chances; as deliberate and measured as he was, and still is.

This is the story told by the author with such candour and remarkable simplicity. I recommend this book to all who seek practical insights into leadership.

Each chapter concludes with Take Action questions and recommendations designed to stir your views and beliefs—setting in motion ideas and theories that need to be explored and acted upon to advance your successful future. Leadership Turnaround may focus on Nigeria—but every person, including youth and mature adults in every nation, can benefit from the wealth of knowledge and wisdom contained within every page of this book.

About the reviewer:

Olukorede S. Yishau is a journalist of about 22years and have won the prestigious Nigeria Media Merit Awards (NMMA) four times and have been finalist several other times in the Media Merit Awards. He is also Nigeria Prize for Literature nominee, a decorated newspaper columnist, and author of In The Name Of Our Father and Vaults of Secrets

News

Bandits Seek Peace Talks With Zamfara Gov In Viral Video

Published

1 hour ago

April 19, 2024

Editor

Some bandits have called for a peace talk with the Zamfara State Governor, Dauda Lawal.

The decision of the gun-wielding men was made known in a viral video on Thursday.

In the video, a bandit, Garba Habeeb, who claimed to be the leader, appealed for negotiation between his group and the state government.

He said, “Because I represent Zamfara State (bandits), after that I need to send message to Dauda Lawal. Dauda Lawal Dere ‘ittakullaha’ (fear God)!

“As from today, we need peace. We need peaceful coexistence in Zamfara State. Continued fighting will not bring us peace. Peace is what is required of you.

“If you look at what’s going on in Eastern Africa, you’ll agree we need to find common ground to resolve our differences.

“After that, I need to send a message to the military, Tukur Usman Gusau, because he’s the one who sends warplanes to bomb bandits.

“Last week, a vigilante group came to my area to follow my cow and sheep to go (sic). This one is not good.

“Dauda Lawal Dare, you’re the leader of Zamfara State, fear God. If you lead a peaceful Zamfara, (sic) then call all the leaders of Fulanis and all the ‘Kachallas’ (bandits commanders) to the negotiation table for the benefit of all,.”

Efforts by to reach the governor’s spokesperson, Sulaiman Idris, for comment proved abortive as his phone lines were not connecting and text messages were not replied to.

In 2019, bandits in Zamfara gave conditions for laying down their arms, one of them being the halting of extra-judicial killings of herdsmen.

The bandits also demanded that they be allowed to attend local markets without fear or intimidation.

Recently, the governor called for the deployment of more soldiers due to the high level of insecurity plaguing the state.

He made the call when he visited the Chief of Defence Staff, Christopher Musa, at the Defence Headquarters in Abuja.

A statement by the governor’s spokesperson disclosed that the governor briefed the CDS about the security situation in the state during the meeting.

Lawal expressed concerns over the resurgence of attacks in some parts of his state and appealed to Musa, an army general, to deploy more troops and weapons to the state.

PUNCH

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JUST IN: More Trouble For Bello As Immigration Service Places Ex-Kogi Gov On Watchlist

Published

2 hours ago

April 19, 2024

Editor

The Nigerian Immigration Service on Thursday put the immediate past Governor of Kogi State, Yahaya Bello, on its watchlist.

This came hours after the Economic and Financial Crimes Commission declared Bello wanted in connection to an alleged case of money laundering to the tune of N80.2bn.

The circular sighted by The PUNCH was dated April 18, 2024 and was signed by Assistant Comptroller of Immigration, DS Umar, for the Comptroller-General, Kemi Nandap.

The service detailed the name, nationality, and passport number of the former gpvernor (B50083321) saying “I am directed to inform you that the above-named person has been placed on the watch list.

“Suffice to mention that the subject is being prosecuted before the Federal High Court Abuja for conspiracy, breach of trust, and money laundering vide letter Ref; CR; 3000/EFCC/LS/EGCS.1/ TE/Vide/1/279 dated April 18, 2024.

“If seen at any entry or exit point, he should be arrested and referred to the Director of Investigation or contact 08036226329/07039617304 for further action.”

Earlier, the EFCC declared Bello wanted, asking members of the public with useful information about the former governor’s whereabouts to contact any of the commission’s offices across the country.

The anti-graft commission had earlier stated that it would arraign the former governor before a Federal High Court sitting in Abuja on Thursday.

This came after the EFCC was granted a warrant of arrest by the Federal High Court in Abuja to apprehend Bello.

Bello, alongside three other suspects, Ali Bello, Dauda Suliman, and Abdulsalam Hudu, were to be arraigned before Justice Emeka Nwite on 19 counts related to money laundering.

But drama ensued when officers of the Nigeria Police Force foiled the EFCC’s attempt to arrest Bello at his Abuja residence on Wednesday.

A group of armed men, identified as “Special Forces,” along with officers from the Nigeria Police Force, intervened to prevent the EFCC operatives from apprehending him.

The PUNCH gathered that the current governor of Kogi State, Usman Ododo, had intervened to prevent the arrest of his predecessor.

Ododo’s security team reportedly escorted Bello out of the location in the governor’s vehicle.

News

Ex-Anambra Gov, Obiano Loses Bid To Stop Trial In N40bn Fraud Charges

Published

4 hours ago

April 18, 2024

Editor

Justice Inyang Edem Ekwo of the Federal High Court in Abuja has dismissed the application by a former Anambra State Governor, Willie Maduabuchi Obiano, which sought to quash the N40 billion money laundering charges brought against him by the Federal Government.

The Judge, in a ruling delivered on Thursday, faulted and rejected all grounds upon which the application was predicated by Obiano.

The former governor had, among others, prayed the Judge to dismiss the 9-count charges instituted against him by the Economic and Financial Crimes Commission, EFCC, on behalf of the Federal Government.

He claimed that there was no connection between the proof of evidence supplied to the court by the EFCC and the accusations against him.

He averred that there was no testimony from any witness indicating that he issued directives for the disbursement of security votes and other funds belonging to the Anambra State Government.

Obiano also claimed that he could not be held accountable for any alleged unlawful actions by officials of the Anambra State Government as there is no concept of vicarious liability in the criminal justice system.

His motion on notice was brought pursuant to Section 6(6)(a) and (b) and Section 36(6)(b) of the 1999 constitution as amended and Section 1(1) & (2), 266, 271(b), 383(4) &492 (3) of the Administration of the Criminal Justice Act 2015.

Among others, Obiano sought “An order of the court quashing the instant charge for it amounts to flagrant abuse of judicial process and a mockery of the criminal Justice

“An order quashing the charge for non-disclosure of a prime facie case being vague and devoid of precision in respect of all the 9 count charges.

“No prima facie case has been disclosed against the defendant in this charge. There is no link between the proof of evidence and the purported allegation made against the defendant in the charge

“No evidence exists from any witness showing that the defendant passed down a directive for the disbursement of security votes and other funds belonging to Anambra State government.

“The defendant cannot be made answerable for any purported unlawful actions of officials of Anambra State government as there is no vicarious liability in our criminal jurisprudence.

“The thinking and conclusion of the prosecution on the counts arose from speculation and suspicions.

“The subject matter of the charge borders on accountability for security vote funds.
The honourable court lacks the requisite jurisdiction to entertain issues on accountability for security vote funds

“There is an appeal filed by the Anambra state government challenging the powers of EFCC to investigate the security vote of Anambra state government.

“The preferment of the entire charge is in bad faith. This honourable court has inherent judicial power to grant all the reliefs sought above.”

But in the ruling, Justice Ekwo held that all the reliefs sought by Obiano are not grantable because they are premature and lacking in merit.

The Judge said there is no way the court would know whether the former governor is linked with the alleged offences or not unless the trial is conducted in line with the provisions of the law.

The former governor is being prosecuted by EFCC on 9-count charges bordering on money laundering to the tune of N40 billion.

Meanwhile, the Judge has fixed June 24, 25, 26 and 27 for full blown trial of the charges.

In the same vein, Justice Ekwo permitted Obiano 60 days to travel abroad for medical treatment.

The Judge ordered that Obiano be made to sign an undertaking to return to the country after the treatment and to deposit his travelling passport within three days of his return to Nigeria.