Business
Varsity Don, Familoni urges govt to reduce interest rate for SMEs
THE importance of capacity building cannot be overemphasized. Hence, there is a need for training and retraining for every leader that wants to remain relevant in his or her sphere of business.
It is against this backdrop that various professionals such as engineers, business executives, legal practitioners, medical executives, IT experts, human resources managers, bank executives, accountants and others gathered in Victoria Island, Lagos for a three-day entrepreneurial leadership training.
Speaking at the training, a professor of Entrepreneurship and Management Strategy, Prof. Olajumoke Familoni, who is the founder and Chairman of International Centre for Leadership and Entrepreneurial Development (ICLED), urged the government to reduce interest rate for businesses to thrive.
Prof. Familoni maintained that a high interest rate would increase the cost of borrowing.
The Executive Director of Global Professor Forum in the USA and member of think tank of Global Business and International Institute, Madrid, Spain, stressed the need for flexible policies that can make private investors survive. The Don urged the government to make data available for them and updating them with new information. She stressed the need for synergies between entrepreneurs and the government.
Speaking on the qualities entrepreneurial leaders must possess, Familoni said they must have skills to process the risk, learn fast, change with ambiquity and use new techniques because the times are uncertain and chaotic.
Speaking further at the entrepreneurial leadership training which was organized by ICLED in conjunction with University of Salamanca, Spain, the professor hinted that ICLED, a 15-year-old organization collaborated with University of Salamanca, Spain for a cutting edge business training for business executives. It was the first cohort.
She added that the cohort was practical and engaging with faculties from topnotch universities in the world such as Harvard and others.
The programme involved case studies of successful entrepreneurs such as Steve Jobs, Bill Gates, Aliko Dangote, evaluation, brainstorming, exchange of ideas and others.
Others included a cocktail networking session where participants shared their experiences and told their success stories in their various businesses, real life experience and how they started their businesses.
Participants at the programme who spoke with journalists expressed happiness for taking part in the training.
Branch Leader, Fidelity Bank, Mr. Chris Ibe-Lamberts and Prof. Familoni at the cocktail network session
A Branch Leader of Fidelity Bank, Mr. Chris Ibe-Lamberts, said the training was very wonderful and rewarding. Ibe-Lamberts said he would have ownership concept by seeing his branch as his business and ensure that it succeeds, saying if a branch leader has an ownership concept, the business would succeed.
He added that the training would help him to excel in any leadership role he found himself in the future, saying life does not end in the bank industry.
He highlighted some of the challenges faced by entrepreneurs to include unfriendly environment, funding, lack of experience and knowledge ,
He emphasized that entrepreneurs ought to have an understanding of what they want to do and have a knowledge in the business they want to venture into.
On her part, Mrs Temitayo Oladejo,
Head of Human Resources and Administration of Information Connectivity Solutions Limited who highlighted qualities of good entrepreneurial leaders, said they must be focused, visionary, adaptive to change,more innovative and intelligent.
She added that entrepreneurial leaders must be content creators, calculative risk takers, goal getters and running the business at a profit.
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The human capital expert equally urged the government to support SMEs and encourage them in funding.
Speaking on her experience during the training, Mrs. Oladejo noted that the methodology is unique. Adding that :”No pressure. Everybody is contributing. It is learning the same thing in different ways”.
Oladejo said she would pass the knowledge to those working with her.
While emphasizing the need to provide premium services for customers in order to sustain a business venture, she urged those who play managerial role not to get drunk with power but delegate more.
Sedabuk Oil and Gas Industry Limited has been listed among the 100 Safe Companies to Do Business With in Africa for 2025 by Emerging Elites Magazine International, in recognition of the firm’s integrity-driven operations, strict compliance culture, and employee-focused policies.
The award was presented to the Managing Director of the company, Engr. Adunola Oseni, at a ceremony attended by members of Sedabuk’s management and staff, alongside the editorial board and team of Emerging Elites Magazine in Lagos.
Presenting the award, the Editor-in-Chief of Emerging Elites Magazine International, Princess Olivia Chukwuma, said Sedabuk emerged after a “thorough, transparent and merit-based selection process” designed to identify African businesses that exemplify excellence and ethical conduct.
According to her, the 100 Safe Companies to Do Business With in Africa Award is an international initiative created to recognise indigenous African companies with proven records of integrity, safety, and best business practices, noting that awardees are continuously monitored and recertified every three years if standards are sustained.
The MD of Sedabuk Oil and Gas Industry Limited, Engr. Adunola Oseni, poses with the Certificate of Award shortly after the company was recognised among Africa’s 100 safest companies to do business with.
Chukwuma said Sedabuk was selected for its employee-centric culture, stressing that the company has no record of unpaid salaries since inception, maintains fair wages, and prioritises staff welfare through initiatives such as its “One Nutritional Meal a Day” programme, which she described as “rare and commendable” in Nigeria’s oil and gas sector.
She also cited the firm’s zero-tolerance policy for fraud, recalling a June 2022 incident in which a pump attendant was sanctioned for under-dispensing fuel while affected customers were compensated, an action she said “clearly reflects Sedabuk’s philosophy of integrity in service delivery.”
Other factors that earned the company the award, she said, include its reputation for honouring contracts, absence of contract-related court cases, strict adherence to safety standards, and voluntary compliance with regulatory obligations, taxes, and statutory dues without coercion.
“With these attributes and more, Sedabuk Oil and Gas has become a beacon of hope—a new breed of Nigerian company that is trustworthy, valuable, and safe to do business with,” Chukwuma said, as she inducted the firm into the Hall of Fame of the 100 Businesses Safe to Do Business With in Africa 2025.
MD, Engr.Adunola Oseni and staff of Sedabuk Oil and Gas Industry Limited during the presentation of a Certificate of Award by The Emerging Elites Magazine International, honouring the company’s adherence to safety standards and best business practices.
Responding, the Managing Director, Engr. Adunola Oseni described the recognition as “a validation of our core values and a strong motivation to do more,” adding that the award belonged to the entire workforce of the company.
“We will continue to uphold integrity, safety, and transparency in all our operations, remain committed to staff welfare and regulatory compliance, and set standards that others in the industry can emulate,” the Sedabuk boss said.
Sedabuk Oil and Gas Industry on Tuesday reinforced its reputation as a people-centred organisation as it rewarded outstanding employees with cash prizes totalling over ₦10 million at its 2025 Employee Recognition and Awards ceremony held in Lagos.
The event, which attracted over 300 staff members alongside top management officials from across the company’s divisions and subsidiaries, was organised to celebrate excellence, dedication, and loyalty within the Sedabuk workforce.
Speaking at the ceremony, the Managing Director, Engr. Adunola Oseni, described the occasion as one of the proudest moments in the company’s journey, noting that Sedabuk’s steady growth has been deliberately anchored on staff welfare and well-being. She said the company, from inception, made a firm commitment to put its people first, stressing that no organisation can truly thrive if its workforce is neglected.
Oseni disclosed that Sedabuk has never owed or delayed salaries since it commenced operations, describing prompt payment as a mark of respect and responsibility. She added that the company reviewed and increased salaries twice in 2025, improved wages across the board, and sustained its seven-year-old One-Day-Meal Programme to ensure employees do not work hungry.
The managing director announced cash awards spanning retail operations, station-based roles, marts, laundromats, and group-wide excellence categories, explaining that the initiative was not just about financial rewards but about recognising hard work and reinforcing a culture of appreciation. According to her, a loyal and motivated workforce remains the company’s most valuable asset.
She assured staff that management is entering 2026 with stronger welfare policies, better incentives, and more opportunities, with the aim of positioning Sedabuk as one of the best organisations to work in Nigeria. Oseni further urged employees to raise the bar in the coming year by working harder, smarter, and together.
Several employees emerged winners across key categories, including Pump Attendant of the Year, Station Captain of the Year, Mart and Laundromat Excellence Awards, and Special Recognition honours.
The highlight of the ceremony was the Group Chairman’s Spirit of Excellence Award, where Adediran Segun Aderonke emerged Sedabuk Star of the Year with a ₦2 million prize, while Ibiloye Olayinka won the Most Outstanding Employee of the Year award with ₦1 million.
In his remarks, the Group Head, Human Resources and Administration, Mr. Adeleye Olusanjo, lauded the managing director for her consistent leadership and unwavering commitment to staff welfare, assuring employees that more incentives and improved support structures are already being planned for 2026.
The event was attended by senior executives, including the General Manager, Finance and Strategy, Mr. Aderoju Sola; the Group Head, Operations and Logistics, Mr. Rufus Enioshunwa; and the Group Head, Corporate Audit, Risks and Ethics, Mrs. Tolulope Omotola, among others.
Established in 2018, Sedabuk Oil & Gas Industry Ltd operates over 12 petrol stations across Lagos, Ogun, and Oyo states.
The Securities and Exchange Commission (SEC) has raised a red flag over two cryptocurrency products — Zugacoin and Samzuga GPT — warning the Nigerian public to steer clear of them.
In a strongly worded statement issued on Wednesday, the apex capital market regulator described the digital assets as unauthorised crypto schemes with no legal backing or regulatory approval in Nigeria.
According to the Commission, neither the promoters nor issuers of Zugacoin and Samzuga GPT are registered to operate in any capacity within the Nigerian capital market.
“Preliminary investigations revealed that Zugacoin and Samzuga GPT are meme coins,” the SEC said. “Meme coins generally have no use case, intrinsic value, or tangible projects backing them.”
The regulator added that the only perceived value of such coins often stems from aggressive promotion by their creators or community hype, making them prime candidates for “pump-and-dump” fraud — a deceptive scheme where promoters artificially inflate the price of a coin through misleading information before dumping it at peak value, leaving unsuspecting investors with massive losses.
“Once the promoters dump their coins and stop hyping the coin, the coin price typically falls and investors lose money,” the SEC warned.
The Commission urged members of the public to avoid engaging in the purchase or promotion of Zugacoin, Samzuga GPT, or any similar crypto assets, noting that anyone who chooses to invest in such schemes does so entirely at their own risk.
To further safeguard investors, the SEC advised the public to always verify the legitimacy of any virtual, crypto, or digital assets and their promoters through its official platforms:
https://home.sec.gov.ng/fintech-and-innovation-hub-finport/registered-fintech-operators/
www.sec.gov.ng/cmos
This warning is the latest in the SEC’s ongoing crackdown on fraudulent digital asset operations targeting unsuspecting Nigerians amid a rise in crypto-related scams.
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