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Why Igbo Apprenticeship Is World’s ‘Largest Business Incubator System’ – Don

Published

2 years ago

September 1, 2023

A Professor of Marketing at the Lagos Business School in Pan-Atlantic University, Lagos State, Ogechi Adeola, has explained why the Igbo apprenticeship is the largest business incubator system in the world.

Adeola, who is the Head of the Department Marketing, Operations and Information Systems at the LBS, while speaking at the 15th Inaugural Lecture of the institution titled, “Decolonising Africa’s Business Practices: Pro-Indigenous Marketing Pathways To A Paradigm Shift”, monitored by The PUNCH on Friday, said Igbo apprentices are groomed at a very young age to be great businessmen and women.

She leveraged her research on a couple of books she had authored and co-authored including ‘Indigenous African Enterprise’ and ‘Igba boi’ which she said gave an insight into the Igbo apprentice system commonly referred to as ′Igba-Odibo/Igba-Boi/Imu-Ahia/Imu-Oru′ is a framework of formal and informal indentured agreements between parties that ultimately facilitate burgeoning entrepreneurial communities within the Igbo people.

“The system has three major types namely, Igba-boi also known as Igba Odibo (become an apprentice); Imu Oru also known as Imu Oruaka (learn a craft) and Imu Ahia (learn a trade).

“All types are geared towards the transfer of knowledge or entrepreneurial skills but they differ in approach.

“Unlike the Igba-boi/Igba Odibo where a mentee will be tutored for free for a period of pre-agreed years, in the Imu Oru/Imu Oruaka and Imu Ahia types, tutorship is paid for by the mentee or mentee’s parents/sponsors.

The professor cited an understudy done by an American journalist, Robert Neuwirth, in a 2017 TedTalk presentation that described the Igbo people’s ‘Igba Boi’ scheme as “the largest business incubator platform in the world”.

She said Neuwirth looked at the Alaba International Market, where 10,000 merchants do business for over $4bn a year, and identified the sharing principle behind it.

She spoke further about what ignited her deep interest in Africa referencing it to The Economist’s ‘Hopeless Continent’ article in 2000 that declared the new millennium as one that has “brought more disaster than hope to Africa”.

She also shared her journey towards reshaping the ‘wrong’ characterisation in the article and others including Time’s tripartite – Agony of Africa, The Hopeless Continent and Aids in Africa published in 1992, 2000 and 2001 respectively while writing against them all to protect the Africa of her dream at a very tender age.

However, Adeola said she was pleased to read The Economist publication of December 3, 2011, titled, Africa Rising’ appraising African ethos saying, “I could see the sun. Africa now has a real chance of following in the footsteps of Asia. So, from a hopeless continent to a rising one.”

The academic pleaded with youths leaving the country to put Africa in the spotlight by marketing the continent as a sellable point to the world.

Among those in attendance at the event were the institution’s Vice Chancellor, Prof Enase Okonedo; Registrar, Mr Kingsley Ukaoha; Dean of Media and Communication, Dr Ikechukwu Obiaya; Associate Dean of LBS, Prof Olayinka David-West; Dean of Science and Technology, Dr Darlington Ahano; husband, siblings of the lecturer and other well-wishers.
PUNCH

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JUST IN: PENGASSAN Strike May Trigger Nationwide Blackout, Thermal Plants Shut Down

Published

22 minutes ago

September 28, 2025

Editor

Nigerians may face a nationwide blackout from Monday as power generation companies have raised the alarm over an imminent shutdown of thermal plants following directives from the Petroleum and Natural Gas Senior Staff Association of Nigeria.

The Executive Secretary of the Association of Power Generating Companies, Joy Ogaji, raised the alarm over the imminent blackout in a WhatsApp message on Sunday.

She revealed that gas suppliers had issued notices to halt supply to thermal power stations in line with PENGASSAN’s strike resolution.

“Good day, all. Thermal GenCos have received notification from our gas suppliers to shut down our thermal power plants following directives from PENGASSAN. The Nigerian Gas Infrastructure Company has specifically requested GenCos to comply,” Ogaji said in the post.

She warned that the development could plunge the country into darkness, as hydroelectric dams alone cannot sustain the national grid.

“Please all be notified of the imminent darkness, as hydros alone cannot sustain the system,” she added.

The warning comes hours after PENGASSAN announced that it would commence a nationwide strike on Monday to protest the dismissal of over 800 workers at the Dangote Petroleum Refinery.

The oil workers’ union, after an emergency National Executive Council meeting on Saturday, directed its members in all oil and gas installations to down tools until the sackings were reversed.

The action could cripple crude production, fuel supply, gas distribution and now electricity generation, worsening the hardship faced by Nigerians.

With thermal stations accounting for more than 70 per cent of Nigeria’s electricity supply, industry experts say the shutdown will trigger widespread outages, stretch hydro plants beyond capacity and heighten the risk of a nationwide system collapse.

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Customs Launches One-stop-shop To Cut Cargo Clearance To 48 Hours

Published

2 hours ago

September 28, 2025

Editor

The Nigeria Customs Service (NCS) says it has officially introduced its ‘One-Stop-Shop (OSS)’ initiative aimed at reducing cargo clearance time to 48 hours.

NCS spokesperson, Abdullahi Maiwada, made this known in a statement on Sunday in Abuja.

Maiwada said the initiative was unveiled recently during a meeting between NCS management and Customs Area Controllers, chaired by the Comptroller-General (C-G), Adewale Adeniyi, in Abuja.

He said the meeting deliberated on the service’s modernisation agenda and the role of leadership in driving reforms across commands.

Maiwada quoted the C-G as describing the OSS as a “transformative shift” which aligned with global best practices and the Federal Government’s Ease of Doing Business policy.

Adeniyi said the reform was designed to sanitise operations, reduce duplication of efforts and ensure predictability in customs procedures.

“The OSS initiative will not only shorten clearance time from 21 days to 48 hours, but it will also strengthen trader confidence, restore transparency and make our operations more business-friendly,” Adeniyi said.

The C-G acknowledged the role of technology in customs operations but also emphasised the importance of physical engagement with officers.

“As much as technology has helped us, it has its limits. There are moments when physical presence, coming together under one roof, adds weight and value to our deliberations,” he said.

The NCS boss said the reform would be piloted at Apapa, Tin Can Island and Onne Ports before being rolled out nationwide.

He added that the initiative was constitutionally supported by the NCS Act 2023 and aligned with the World Trade Organisation’s Trade Facilitation Agreement (TFA).

“This is not just a policy. It is a statement of intent that reflects our determination to build a modern, transparent and trader-friendly Customs Service,” he said.

The spokesperson said that under the OSS framework, all customs units would work jointly on flagged declarations, eliminating multiple checks and reducing delays.

According to him, consignments cleared under the OSS will not be subject to re-interception, thereby reducing costs and enhancing trade facilitation.

He said the meeting also provided a platform to review the NCS accountability framework, including a new central dashboard that tracks clearance times, interventions and stakeholder satisfaction.

News

SEC Warns Nigerians Over AI-generated Investment Scams

Published

2 hours ago

September 28, 2025

Editor

The Securities and Exchange Commission (SEC) has warned Nigerians to be cautious of a rising wave of artificial intelligence (AI)-driven scams that are targeting unsuspecting investors with promises of guaranteed profits and fake celebrity endorsements.

The Commission, in a statement, recalled that platforms such as CBEX, Silverkuun, and TOFRO were operating illegally by advertising AI-powered trading systems that promised unrealistic returns.

“These platforms are not registered or regulated by the SEC, yet they continue to mislead the public with false claims of AI-driven investments. They pose serious risks to investors; hence, the Commission issued a series of disclaimers against their activities,” the Commission stated.

The SEC explained that fraudsters are increasingly turning to deepfake videos and AI-generated content to lure victims, noting that manipulated videos featuring politicians, celebrities, and television hosts are being shared through Facebook adverts, Instagram reels, and Telegram groups to give fraudulent platforms an air of credibility.

According to the Commission, “Scammers are exploiting AI to fabricate endorsements and testimonials that appear genuine. This has made traditional fraud detection methods less effective, hence the need for tech-enabled regulation and greater public awareness.”

To counter the growing threat, the SEC explained that it is adopting advanced surveillance systems capable of detecting fraudulent activity in real time, adding that partnerships with the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU) are being strengthened to enable data sharing and joint enforcement actions.

“We are moving from reactive to predictive oversight. This is essential in combating fraud and systemic risks in our market,” the Commission emphasised.

The regulator said it has also engaged social media companies to clamp down on misleading adverts and cautioned influencers against promoting unlicensed investment schemes.

“Any influencer or blogger found to be complicit in promoting illegal platforms will face regulatory sanctions or even prosecution,” the SEC warned.

The Commission urged Nigerians to take extra precautions before investing, stressing that any scheme promising daily profits, zero risk, or celebrity-backed endorsements should be treated with suspicion.

It stated: “Any investment that guarantees unrealistic returns or uses manipulated videos of public figures should immediately raise a red flag.”

The Commission further encouraged Nigerians to verify the registration status of any investment platform on its website, where a list of licensed Capital Market Operators is available.

It added that investors should confirm that registration numbers displayed on company websites match the details on the SEC portal and avoid platforms that only operate through Telegram or WhatsApp without a verifiable office address.