Opinion
Increase in Minimum Capital Requirements for Nigerian Banks (Pt. II)
Published
2 years agoon
By
Eric
By Bashorun J. K. Randle
It is self-evident that whatever the Governor of the Central Bank is doing (or not doing), the backing (and banking!!) of the President is critical. On that score, President Bola Ahmed Tinubu did not pull any punches when he spoke at the Hague, Netherlands during the business session of the bilateral meeting with the Dutch team, led by Prime Minister Mark Dutte.
“I am ever ready to take tough decisions in the best interest of the people, even if with initial pains. I am a determined leader; I will continue to take the difficult decisions that will benefit our people, even if there is a short-term pain. I am unafraid of the consequences once I know that my actions are in the best long-term interests of all Nigerians.”
Hence, we must recognize the over arching influence of Mr. President in economic, financial and political matters. When he was sworn in on 29th May 2023, he released an unscripted bombshell while delivering his inaugural address at Eagle Square, Abuja: Shortly afterwards, he spilled the beans in Paris while addressing Nigerians. According to AFP [Agence Francais-Presse]
“When I got to the podium, I was possessed with courage and I said fuel subsidy is gone. Also, no more parallel (black market) for dollars.”
On November 22, 2023, when President Tinubu addressed German-Nigerian Business Forum again he did not pull any punches:
“Nigeria voted for me for reforms, and from day one of my inauguration, I started the reforms. To me if you didn’t mention me in the Guinness Book of Records, I’d strive to find a way to insert myself because I did it without expectation.”
The endorsement of the IMF [International Monetary Fund] followed on February 14, 2024.
“The new Tinubu Administration has made a strong start, tackling deep-rooted structural issues in challenging circumstances. Immediately it adopted two policy reforms that its predecessors had shield away from: fuel subsidy removal and the unification of the official (dollar/naira) exchange rates.”
Front page editorial of “Nigerian Tribune” newspaper.
Headline: “BRIBES : TINUBU’s CHARGE TO INVESTORS”
“President Bola Tinubu recently set tongues wagging when, during his just concluded trip to Doha, the Qatari capital, he told the country’s captains of industry to report directly to him if any Nigerian official demanded a bribe from them in order to facilitate a business transaction. Revealed in a signed statement by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the president’s message to Qatari investors at the Nigeria-Qatar Business and Investment Forum could not have been clearer: “Do not offer a bribe to any of our people, and if it is requested or taken from you, report to us. You will have access to me.”
Eager to drive home the point that the country is open to business and will adopt a business-friendly approach on his watch, he added: “Whatever is the obstacle or problem that some of you might have experienced; it is in the past because there is no obstacle in the future. We are removing obstacles today, and we are going to continue to remove all obstacles. We have done so much within nine months. And I assure you, it is free entry, and free exit. Your funds will flow smoothly into and out of our country. Bring your investments.” Finally, he urged Qatari investors not to allow “perceptions” about the country to “become a hindrance to [their] will to invest,” since “Nigeria is serious about revolutionizing investment promotion.”
We could not be more delighted to read this promise of radical transparency from the president since, at the very least, it shows that he is not unaware of the tremendous odds typically faced by any entity- individual or corporate- seeking to do business in Nigeria. While, as the president mentioned, corruption is the most significant among these challenges, it goes without saying that it is just one of many tangible and intangible obstacles to investment.
Accordingly, not only do we welcome the president’s statement, for nothing could be more timely, we urge him to do everything within his capacity to ensure that the book is thrown at whoever flouts it, no matter how highly placed such a person is in the current administration. In other words, nothing is more important than the president backing his rhetoric with action, for understandably, many Nigerians are bound to sneer, saying that they have heard such soaring rhetoric before and that when the time came for egregious misdemeanors to be punished, the government lost its nerve. Since such skeptics have a point, the task before the president is to show that their skepticism has no basis, and that he will let the hammer fall on whichever official demands inducement to do their job.
Until then, he can, as a matter of fact, do something about the current situation in the upper legislative house, where rumours of budget-padding and dubious awards to senators have cast a shadow upon the integrity of the lawmakers. If the government is truly interested in fighting corruption, it can do no better right now than to act on the many cases of corruption dotting the landscape, including those affecting and relating to those within the inner circle of government. This would send the right and correct signals that Nigeria is ready for positive change and a new approach to public life rather than following the usual ineffective and tawdry public assertions that mean nothing in reality.”
The Central Bank of Nigeria used to boast of an excellent Research Department with a world class library. The King’s College Old Boys Association [KCOBA] would not take matters for granted. Here is a list of books which are to be delivered to the Governor of the Central Bank, Mr. Yemi Cardoso and Deputy Governor, Mr. Phillip Ekeazor (who are both old boys of St. Gregory’s College, Lagos:
(i) “Curse of Cash” by Kenneth S. Rogoff
(Harvard University)
(ii) “The Origin And Prevention of Major Wars” by Professor Robert Rothberg
(Harvard University)
(iii) “The Bottom Billion” by Professor Paul Collier
(Oxford University)
(iv) “What Terrorists Want: Understanding the Enemy, Containing The Threat” by Professor Louise Richardson
(Oxford University)
(v) “The Elite Africa Project” by Professor Peter Lewis
(John Hopkins University)
(vi) “WONDER DRUG”
(7 Scientifically Proven Ways
That Serving Others Is The
Best Medicine for Yourself) by Stephen Trzeciak M.D.
and
Anthony Mazzarelli M.D
(vii) “THE ROAD TO FREEDOM, ECONOMICS
AND THE GOOD SOCIETY” by Joseph E. Stiglitz
(Winner of Nobel Prize)
Professor at Harvard; Yale;
Emerson College, University
Of California, Berkeley
From the archives we have the following vignettes:
(i) When the British Bank For West Africa
(now known as First Bank of Nigeria Plc)
was formed in 1894 among its founding
shareholders was Dr. J.K. Randle. The
inaugural meeting was held at the Colony
Hotel, in London.
(ii) When British Bank of West Africa launched a branch in Kano in 1929, Alhassan Dantata (Aliko Dangote’s grandfather) opened an account by depositing twenty camel-loads of silver coins.
(iii) “The Chairman of EFCC [Economic and Financial Crimes Commission] has announced that the embattled former Governor of Kogi State, Yahaya Bello withdrew funds from the government treasury and obtained U.S.$720,000 from a Bureau de Change to pay for his children’s school fees in advance at American International School, Abuja”
“Business Day” newspaper of May 8, 2024
Headline: “CHIKE-OBI CAUTIONS AGAINST POOR EXECUTION AMID BANKS’ RECAPITALISATION”
Mustapha Chike-Obi, chairman, Bank Directors’ Association of Nigeria, on Friday lauded the Central Bank’s latest bank recapitalisation policy but warned that poor execution could scuttle the gains.
Chike-Obi spoke at a roundtable assessing the bank recapitalisation policy organised by BusinessDay Media Limited in Lagos. He noted the 2004/2005 recapitalisation exercise was a good policy but was poorly implemented due to governance issues.
The CBN on March 28 announced new capital requirements for Nigerian lenders from commercial to merchant banks. The last such exercise was in 2004/2005, two decades ago.
During the recapitalisation of 2004/2005, a surge in liquidity occurred without adequate investment opportunities, leading to an asset bubble and subsequently the dismissal of several bank chiefs.
“A good policy that brings bad results means execution was problematic along the way. We are seeing bad results from good policies and nobody is taking responsibility for that. We should celebrate the policy and the results,” he said.
Speaking further, he said, “I encourage more engagement from the CBN, it’s better if they talk to the banks about why retained earnings are not considered at this point in time.
I think there should have been better engagement, some things need to be explained. Why does an international licence require more capital than a national licence? If you’re diversifying across nations, does that mean more risk? If I have one branch in London as Fidelity, am I in the same boat as a UBA who has many branches in many countries?” Chike-Obi, Chairman of Fidelity Bank Plc, said.
The CBN said all international banks should move their capital to a minimum of N500 billion; national banks up to a minimum of N200 billion; regional banks (N50 billion); merchant banks (N50 billion) and N20 billion for non-interest banks operating nationally and N10 billion for those operating regionally.
In his keynote address, Ike Chioke, Group Managing Director Afrinvest (West Africa) Limited, noted that “after the announcement of the last recapitalisation we had 89 banks operating with N311 billion total capital, which was equivalent to $2.4 billion at the time.
We ended up by December 31 2005 with 25 commercial banks each with a minimum of 25 billion and a total capital of N932.0 bn.
He said that commercial banks have a capital gap of N3.7 trillion to meet the capital requirements while the merchant banks have N200.6 billion.
There is some scepticism that banks will take on significantly more lending to the private sector once their minimum capital is raised given the risk in an economy battling with accelerating inflation and a severe cost-of-living crisis.
“We can still lend, but we’re limited in how much. As a banker, it’s more attractive to buy Treasury bills at 25 percent than to lend to people,” Chike-Obi said.
“There’s a reluctance by banks to lend. I would have reduced CRR, and told banks they can’t buy more than 10 percent of T-bills. This will force them to lend to people.”
He also said the notion that banks give people money to buy FX is not true.
“People only buy FX because it makes sense to them. It’s a rational economic decision. What we have to do is to make it more rational to hold assets in naira than in dollars. I’ll raise short term rates to 30%, and prevent banks from having more than 10 percent in T-bills.
What we have doesn’t allow growth and banks aren’t lending. I believe GDP growth will be lower in the fourth quarter than predictions. The raise in capital is necessary because the FX adjusted basis has gone down. So, the recapitalisation isn’t as massive as it looks from the outside,” he said.
Front page of “The Punch” newspaper of April 22, 2024
Headline: The Institute of Chartered Accountants of Nigeria
Recommendations made by the Institute of Chartered Accountants of Nigeria on the New Minimum Capital Requirements for Banks in Nigeria: Our Position.
“Given the above, the following recommendations are made to ensure a successful implementation of the programme:
1. The CBN may consider allowing the inclusion of retained earnings on the condition that they are not impaired by losses, to make it easier for the banks to comply with the new capitalization policy.
2. The two-year period allowed is considered sufficient to implement the programme. However, in view of the young age of non-interest banks in Nigeria, they should be allowed a longer period, probably three years, to meet the minimum capital requirements.
3. The Institute urges the CBN to extend the 30-day period it gave banks to come up with an implementation plan to 60 days given that it would take some time to obtain the consent of shareholders.
4. It is also important that the CBN provides some incentives to banks to facilitate the recapitalization exercise as was done in 2005. This can take the form of tax incentives and ensuring that the overall cost of recapitalization is low by seeking the cooperation of relevant stakeholder institutions such as the Federal Inland Revenue Service, the Securities and Exchange Commission, the Nigerian Exchange as well as the Federal Competition and Consumer Protection Commission given that banks have the option of raising funds through the Capital Market or Mergers and Acquisitions.
5. The CBN should adequately supervise the banks to ensure that the costs of recapitalization are not transferred to their customers by way of higher bank charges.
6. The CBN is advised to engage the Bankers Committee on measures to put in place to ensure adequate compensation to staff of banks that may be disengaged as a result of the recapitalization exercise.
7. Exercise due verification to ensure that corrupt and laundered money do not find their way int the capitalization.”
Frontpage of “ThisDay” newspaper of April 13, 2024
Headline: AUDIT REPORT: SENATE PROBING 774 FEDERAL AGENCIES OVER AUDITOR GENERAL’S QUERIES”
“The Senate is currently scrutinizing the financial records of 774 Federal Agencies based on the queries raised against them in the 2019 report of the Auditor General for the Federation.
The Chairman, Senate Public Accounts Committee (SPAC), Senator Aliyu Wadada, disclosed this yesterday in his Keffi, Nasarawa State, country home while speaking with journalists. He noted that his committee was not out to witch-hunt anyone but pledged that members of the panel would discharge their responsibilities diligently in the best interest of the country.
Wadada, also disclosed that the 10th National Assembly with the support of President Bola Tinubu and critical stakeholders in the nation’s economy would soon embark on the amendment to the 2007 Procurement Act so as to curb financial infractions before they take place.
He nevertheless appealed to leaders at all tiers and heads of government institutions at the Federal, State and Local government levels to embrace the spirit of self-discipline and fear of God in the discharge of their responsibilities.
The Senator, who is representing Nasarawa West Senatorial District on the platform of the Social Democratic Party (SDP), said no matter how beautiful a law is crafted, it needed godly people to implement it.
Wadada said, “When I became the Chairman, Senate Public Accounts Committee (SPAC), I was emphatic on the need for President Bola Tinubu to appoint the substantive Auditor General for the Federation (AuGF).
“I even wrote a letter to that effect to the President and he responded by appointing a substantive AuGF.
The AuGF report for the 2020, 2021, 2022 fiscal years were not all ready. It was only the 2019 Auditor General’s report that was then ready for us to take actions on.
The Auditor General’s report for 2020 was ready at the time I became the Senate Public Account Committee but it could not be signed by the acting Auditor General for the Federation.
As we talk, the 2020 Auditor General’s report is ready and the substantive AuGF has appended his signature to it. The development is a confirmation that the Presidency under the stewardship of President Bola Tinubu is available, is responsive and supportive of the Committee on Public Accounts in the two chambers of the National Assembly. We have since started work on the 2019 Auditor General’s report before us.
Under my chairmanship of this sensitive and strategic committee, I have repeatedly said that we are not out to witch-hunt or pull down anybody.
Our ultimate objective vis-à-vis the primary focus of the committee is to ensure transparency and accountability in the management of public funds.”
Front page of “The Punch” newspaper of April 12, 2024
Headline: VIETNAM TYCOON SENTENCED TO DEATH IN
$12BN FRAUD CASE”
“A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46bn) financial fraud case, the country’s biggest on record, state media reported.
CNN reports that her trial, which began on March 5 and ended earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged to stamp out.
Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said.
We will keep fighting to see what we can do,” a family member told Reuters, speaking on condition of anonymity. Before the verdict, he had said Lan would appeal against the sentence.
Lan had pleaded not guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan’s lawyers told Reuters.
“Of course she will appeal the verdict,” he added, noting she was sentenced to death for the embezzlement charge and to 20 years each for the other two charges of bribery and violations of banking regulations.
Vietnam imposes the death penalty mostly for violent offences but also economic crimes. Human rights groups say it has executed hundreds of convicts in recent years, mainly by lethal injection.
The Thanh Nien newspaper said 84 defendants in the case received sentences ranging from probation for three years to life imprisonment. Among them are Lan’s husband, Eric Chu, a businessman from Hong Kong, who was sentenced to nine years in jail, and her niece, who got 17 years.
Lan started as a cosmetics trader at the central market in Ho Chi Minh City, helping her mother, she told judges during the trial, according to state media.
She later founded her real estate company, Van Thinh Phat, in 1992, the same year when she got married, according to state media. She was found guilty, along with her accomplices, of siphoning off more than 304 trillion dongs from Saigon Joint Stock Commercial Bank, which she effectively controlled through dozens of proxies despite rules strictly limiting large shareholding in lenders, according to investigators.
From early 2018 through October 2022, when the state bailed out SCB after a run on its deposits triggered by Lan’s arrest, she appropriated large sums by arranging unlawful loans to shell companies, investigators said.
The defendant’s action not only violate the property management rights of individuals and organisations but also put SCB under scrutiny, eroding people’s trust in the leadership of the Party and State,” state newspaper VnExpress cited the jury as saying.
The bank is currently propped up by the central bank and faces a complex restructuring under which authorities are trying to establish the legal status of hundreds of assets that were used as collateral for loans and bonds issued by VTP. The bonds alone are worth $1.2bn.
Some of the assets are high-end properties, but many others are unfinished projects. Before her fall from grace, she had played a key role in Vietnam’s financial world, getting involved in the previous rescue of troubled SCB more than a decade before she contributed to the bank’s new crisis.”
Front page of “Africa Voice” newspaper of 29 April, 2024
Headline: “PROF WINS TOP AWARD FOR ISLAMIC MORAL ECONOMY”
“Professor Mehmet Asutay has been selected as the first-place winner of the 2024 Islamic Development Bank (IsDB) Prize for Impactful Achievement in Islamic Economics and influential contributions to the field of Islamic economics and finance.
The prize laureate is a Professor of Middle Eastern and Islamic Political Economy & Finance at Durham University, United Kingdom. He is an internationally recognized academic who produced pioneering and impactful scholarly works.
Professor Asutay was selected in recognition of his novel work on Islamic moral economy and the articulation of Islamic finance to be supportive of sustainable development and the welfare of human beings. This year’s prize cycle aims to recognize, reward and encourage significant knowledge contributions in Islamic economics with the potential to solve major development challenges of IsDB member countries. The prize comes with a US$50,000 award for the first prize winner, US$30,000 for second prize, and US$20,000 for third prize. However, the second and third-position prizes are withheld this year.
Every year the winners of the IsDB Prize are selected by a different committee of experts from outside the IsDB Group, whose work is coordinated by the Islamic Development Bank Institute (IsDB).
The winner of this year’s prize will receive the award during the IsDB Group Annual Meetings, scheduled for 27 – 30 April 2024 in Riyadh, Saudi Arabia. In his comments on this occasion, the President of the ISDB, H.E. Dr. Muhammad AI Jasser, congratulated the laureate for his impactful knowledge contributions and wished him success in this various endeavours. Acting Director Generl of IsDB, Dr. Sami Al-Suwailem, also congratulated H.E. Dr. Al Jasser for guiding the Institute towards the successful coordination of the prize.”
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Opinion
The Six Focal Dimensions of Leadership: A Holistic Framework for Personal Mastery
Published
2 days agoon
March 14, 2026By
Eric
By Tolulope A. Adegoke, PhD
“True leadership awakens the highest in others by first mastering the highest in oneself: it weaves inner clarity with outward vision, human connection with disciplined action, collective harmony with unyielding integrity—transforming individuals, institutions, and societies into their fullest potential.” – Tolulope A. Adegoke, PhD.
Leadership constitutes a pivotal force in human progress, operating as a multifaceted process that shapes personal trajectories, drives organizational excellence, and steers national destinies. Far beyond positional power, it integrates psychological depth, behavioral agility, strategic acumen, relational wisdom, systemic orchestration, and unwavering ethical commitment. The focal dimensions—self-leadership, visionary direction, relational influence, strategic execution, team and systemic alignment, and ethical integrity—serve as enduring pillars, drawn from an evolving synthesis of leadership theories including trait, behavioral, contingency, transformational, servant, authentic, and collective models. These dimensions interact dynamically, adapting to cultural nuances, technological advancements, generational shifts, sustainability demands, and geopolitical complexities in our interconnected era.
This expanded exploration delves profoundly into each dimension, weaving theoretical foundations with practical applications across individuals (peoples), corporations, and nations. It incorporates concrete, globally recognized examples—historical and contemporary—to provide clearer insight, deeper comprehension, and alignment with international standards of scholarship and practice. These illustrations highlight successes, challenges, and transferable lessons, underscoring leadership’s role in fostering resilience, innovation, equity, and sustainable flourishing.
Self-Leadership: The Internal Compass of Personal Mastery and Authenticity
Self-leadership forms the foundational dimension, emphasizing proactive self-direction through heightened self-awareness, emotional regulation, disciplined habits, continuous learning, and resilient agency. Rooted in cognitive-behavioral and positive psychology frameworks, it empowers individuals to align actions with intrinsic values amid external pressures.
For individuals, self-leadership manifests in personal triumphs over adversity. Viktor Frankl, the Austrian psychiatrist and Holocaust survivor, exemplified this during his imprisonment in Nazi concentration camps. Despite unimaginable suffering, Frankl chose his attitude and inner response, maintaining meaning through logotherapy principles and later authoring Man’s Search for Meaning. His practice of finding purpose in suffering demonstrates self-leadership’s power to preserve dignity and agency in extreme conditions.
In corporations, self-leadership scales to executive authenticity and cultural modeling. Leaders who engage in reflective practices—such as executive coaching, mindfulness, and vulnerability—cultivate environments of ownership. Companies like Google have institutionalized self-leadership through programs encouraging personal growth and error reflection, contributing to innovation cultures where employees proactively drive projects.
Nationally, self-leadership appears in statespersons exhibiting moral courage and transparency. Leaders who publicly acknowledge policy shortcomings while pursuing national interests build institutional trust. This dimension supports anti-corruption efforts and civic responsibility in diverse societies, enhancing social capital and intergenerational equity in education, health, and environmental policies.
Visionary Direction: Articulating and Mobilizing Toward Compelling Futures
Visionary direction involves crafting an inspiring, feasible future narrative and aligning resources through foresight, purpose communication, and motivational alignment. It draws from transformational leadership, integrating scenario planning and inspirational rhetoric.
Individuals harness this by defining legacy-oriented missions, channeling energy beyond daily survival toward skill mastery or societal contribution, sustaining motivation through setbacks.
Corporations depend on visionary direction for enduring success. Reed Hastings at Netflix pioneered streaming disruption, envisioning a world where entertainment shifts from physical media to on-demand digital access. By investing boldly in original content and global expansion while phasing out DVD rentals, Hastings aligned the company with technological inevitability, transforming it from a mail-order service into a dominant entertainment platform.
At the national level, visionary direction shapes long-term policy architectures. Jacinda Ardern, former Prime Minister of New Zealand, articulated a compassionate, science-driven vision during the COVID-19 pandemic, emphasizing “team of five million” unity, rapid border closures, and clear communication. This foresight enabled effective containment, economic safeguards, and high public trust, illustrating how inclusive national narratives mobilize cross-generational coalitions amid global crises.
Relational Influence: Building Trust, Empathy, and Inclusive Connections
Relational influence prioritizes authentic bonds through emotional intelligence, active listening, empathy, and mutual empowerment. Grounded in leader-member exchange and relational theories, it transforms interactions into collaborative partnerships.
Individuals apply this in nurturing supportive networks—family, mentorships, communities—that enhance well-being and collective efficacy.
In corporations, relational leadership fosters inclusive, innovative cultures. Satya Nadella at Microsoft shifted from a competitive to a collaborative ethos, emphasizing empathy, growth mindset, and cross-functional dialogue. By modeling vulnerability (sharing personal stories of his child’s disability) and empowering teams, Nadella revitalized innovation, boosted employee engagement, and drove market resurgence.
Nationally, relational influence bridges societal divides. Leaders who facilitate inclusive dialogue and empathetic policymaking reduce polarization. In multicultural or federal contexts, this strengthens democratic legitimacy and crisis coordination, building social capital vital for equitable reforms.
Strategic Execution: Adaptive Implementation and Problem-Solving Under Uncertainty
Strategic execution demands rigorous analysis, decisive action, resource optimization, and iterative adaptation. Informed by contingency and situational models, it balances efficiency with flexibility.
Individuals exercise this in career navigation or personal crises, converting obstacles into advancement.
Corporations require strategic execution for resilience. During Boeing’s 737 MAX crises, leadership (post-2019) executed comprehensive safety overhauls, MCAS redesigns, regulatory cooperation, and cultural reforms—demonstrating calibrated response to regain certification and stakeholder confidence.
Nationally, this dimension drives governance efficacy. New Zealand’s Ardern again exemplified execution during COVID-19 through evidence-based lockdowns, testing scaling, and adaptive economic support, minimizing health and economic damage while maintaining public adherence.
Team and Systemic Alignment: Orchestrating Cohesion and Interdependent Success
This dimension empowers others, clarifies interdependencies, and aligns efforts via distributed leadership models, viewing outcomes as networked rather than hierarchical.
Individuals contribute through meaningful delegation and peer mentoring.
Corporations build high-performing ecosystems by dismantling silos and integrating functions. Relational approaches, as seen in collaborative cultures at companies emphasizing team empowerment, enhance knowledge flow and adaptability in global operations.
Nationally, alignment harmonizes institutions and partnerships. Effective leaders empower subnational entities while ensuring coherent direction, facilitating seamless development and crisis responses in federated or diverse systems.
Ethical Integrity: The Moral Anchor of Accountability and Sustainability
Ethical integrity demands principled consistency, transparency, stakeholder protection, and long-term orientation. Drawing from servant and authentic paradigms, it safeguards trust across all endeavors.
Individuals uphold personal codes resisting expediency.
Corporations embed integrity through governance and stakeholder focus. Johnson & Johnson’s 1982 Tylenol crisis response—swift nationwide recall, transparent communication, and tamper-proof packaging redesign—exemplified ethical prioritization of public safety over short-term profit, restoring trust and setting industry standards.
Nationally, ethical leadership combats corruption and upholds rule of law. Leaders modeling public-interest primacy enhance credibility, investment attraction, and civic virtue diffusion.
Interconnections, Global Relevance, and Pathways Forward
These dimensions interlink synergistically: self-leadership informs visionary clarity, relational trust enables execution, systemic alignment reinforces ethics. Cross-level synergies create virtuous cycles—personal mastery informs corporate innovation, which shapes national resilience.
In today’s context—AI integration, climate urgency, demographic changes, multipolar dynamics—hybrid, culturally intelligent leadership prevails. Measurement via assessments, scorecards, and indices supports development through mentorship, academies, and experiential programs.
Conclusion: Leadership as Catalyst for Interdependent Flourishing
The focal dimensions offer a timeless, adaptable framework elevating individuals to fulfillment, corporations to prosperity, and nations to inclusive progress. Through global examples—from Frankl’s resilience and Hastings’ disruption to Ardern’s empathy and Johnson & Johnson’s integrity—leadership demonstrates profound impact when harmonized with authenticity and service. Investing in these dimensions equips stakeholders to navigate complexity, fostering legacies of resilience, equity, and shared well-being across borders and generations in our interdependent world.
Dr. Tolulope A. Adegoke, AMBP-UN is a globally recognized scholar-practitioner and thought leader at the nexus of security, governance, and strategic leadership. His mission is dedicated to advancing ethical governance, strategic human capital development, and resilient nation-building, and global peace. He can be reached via: tolulopeadegoke01@gmail.com, globalstageimpacts@gmail.com
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Opinion
The Scars of Glory and the Burden of Leadership!
Published
1 week agoon
March 7, 2026By
Eric
By Tolulope A. Adegoke, PhD
“True glory is never unscarred, and authentic leadership is never unburdened; together, they forge the crucible from which resilience, innovation, and equitable possibilities emerge for peoples, corporations, and nations alike” – Tolulope A. Adegoke PhD
In the annals of human endeavor, glory is often portrayed as the pinnacle of achievement—a radiant summit where triumphs are celebrated and legacies are forged. Yet, beneath this luminous facade lie the indelible scars that mark the journey: the wounds of sacrifice, the echoes of failure, and the silent toll of perseverance. Leadership, in turn, emerges not as a crown of ease but as a weighty mantle, demanding unwavering resolve amid uncertainty. This write-up explores the intertwined realities of glory’s scars and leadership’s burdens, framing them as essential catalysts for unlocking possibilities across peoples, corporations, and nations. By examining these themes through a global lens, we uncover how embracing such challenges can foster resilience, innovation, and sustainable progress in an interconnected world.
The Essence of Glory’s Scars
Glory, in its purest form, is rarely bestowed without cost. It is the culmination of battles fought, both literal and metaphorical, where victories are etched upon the soul as much as upon history. For individuals—be they entrepreneurs, artists, or activists—the scars of glory manifest in personal sacrifices. Consider the innovator who toils through sleepless nights, forsaking family ties and personal well-being to birth a groundbreaking idea. These scars are not mere blemishes; they are badges of authenticity, reminding us that true achievement demands vulnerability and endurance.
On a corporate scale, these scars appear in the form of organizational trials. Companies navigating global markets often endure economic downturns, regulatory hurdles, and competitive upheavals. The 2008 financial crisis, for instance, left deep imprints on multinational firms, forcing restructurings that scarred workforces through layoffs and cultural shifts. Yet, from these wounds emerge stronger entities, equipped with adaptive strategies and diversified portfolios. In nations, glory’s scars are woven into the fabric of collective memory—wars, revolutions, and economic reforms that reshape societies. Post-colonial nations in Africa and Asia, for example, bear the marks of independence struggles, where the pursuit of sovereignty inflicted profound social and economic pains. These historical scars, however, pave the way for renewed identities and developmental trajectories, aligning with international standards such as the United Nations Sustainable Development Goals (SDGs), which emphasize inclusive growth and resilience.
Internationally, the delivery of possibilities hinges on recognizing these scars as opportunities for learning. The World Economic Forum’s Global Risks Report highlights how past crises, like pandemics or climate events, scar global systems but also unlock innovations in healthcare and sustainability. By integrating lessons from these experiences, peoples can access education and empowerment, corporations can drive ethical capitalism, and nations can pursue equitable diplomacy. Thus, glory’s scars are not deterrents but gateways to transformative potential.
The Weight of Leadership’s Burden
Leadership, often romanticized as visionary guidance, carries an inherent burden that tests the mettle of those who wield it. At its core, this burden involves decision-making under duress, balancing immediate needs with long-term visions, and shouldering accountability for outcomes that affect multitudes. For individuals in leadership roles—such as community organizers or CEOs—the weight manifests in ethical dilemmas and emotional fatigue. The isolation of command, where leaders must project confidence while grappling with doubt, can lead to burnout, a phenomenon increasingly addressed in global mental health initiatives like those from the World Health Organization.
In the corporate realm, the burden of leadership is amplified by stakeholder expectations and market volatilities. Executives must navigate shareholder demands, employee welfare, and environmental responsibilities, often amid geopolitical tensions. The rise of ESG (Environmental, Social, and Governance) criteria exemplifies how leaders are now accountable for broader impacts, transforming corporate governance into a high-stakes endeavor. Successful corporations, such as those in the Fortune 500, demonstrate that bearing this burden fosters innovation; for instance, tech giants investing in AI ethics despite regulatory uncertainties create pathways for inclusive technological advancement.
Nationally, leaders bear the heaviest loads, steering policies that influence millions. Heads of state confront burdens like economic inequality, security threats, and diplomatic negotiations, all while upholding democratic principles or cultural values. The Paris Agreement on climate change illustrates this: national leaders commit to burdensome transitions from fossil fuels, yet these efforts unlock possibilities for green economies and international collaboration. In alignment with frameworks like the International Monetary Fund’s guidelines for fiscal responsibility, such leadership burdens ensure that nations deliver on promises of prosperity and stability.
Globally, the burden of leadership is a shared imperative for delivering possibilities. The G20 summits and similar forums underscore how collaborative leadership can mitigate burdens through knowledge exchange and resource pooling. By fostering diverse leadership models—incorporating gender parity and cultural inclusivity, as advocated by the OECD—peoples gain empowerment, corporations achieve sustainable competitiveness, and nations build resilient alliances. Ultimately, the burden is not a curse but a crucible, refining leaders to champion equitable futures.
Intersections: Where Scars and Burdens Converge
The scars of glory and the burden of leadership are inextricably linked, forming a symbiotic dynamic that propels progress. Leaders who bear burdens often accumulate scars through trials, yet these experiences equip them to inspire and innovate. For peoples, this convergence means access to role models who humanize success, encouraging grassroots movements that align with universal human rights standards, such as those in the Universal Declaration of Human Rights. Individuals scarred by adversity, like refugees turned advocates, embody leadership that uplifts communities, delivering possibilities in education and social mobility.
Corporations at this intersection thrive by institutionalizing resilience. Firms like Patagonia, scarred by environmental advocacy battles, shoulder leadership burdens in sustainability, setting benchmarks that influence global supply chains. This approach not only complies with international trade standards but also unlocks market opportunities in eco-conscious consumerism.
Nations, too, find strength in this nexus. Emerging economies, scarred by historical exploitations, burden their leaders with reforms that foster inclusive growth. Initiatives like the African Continental Free Trade Area exemplify how addressing these elements can deliver economic possibilities, harmonizing with WTO principles for fair trade.
In a world of rapid globalization, embracing these intersections adheres to international norms, such as those from the International Labour Organization, ensuring that progress is ethical and inclusive. By viewing scars as wisdom and burdens as duties, stakeholders across levels can co-create a landscape ripe with opportunities.
Pathways Forward: Embracing the Inevitable for Collective Advancement
To harness the scars of glory and the burden of leadership for global benefit, a proactive stance is essential. Education systems worldwide should integrate leadership training that acknowledges these realities, preparing future generations in line with UNESCO’s global citizenship education. Corporations must invest in wellness programs and ethical frameworks, aligning with ISO standards for sustainable management. Nations, through multilateral engagements, can share best practices, as seen in ASEAN’s collaborative leadership models.
In conclusion, the scars of glory remind us of the human cost of aspiration, while the burden of leadership underscores the responsibility of power. Together, they form the bedrock for delivering possibilities to peoples, corporations, and nations—fostering a world where challenges are not endpoints but springboards to excellence. By honoring these elements with integrity and foresight, we pave the way for a more equitable and dynamic global order, where glory’s light shines not despite the scars, but because of them.
Dr. Tolulope A. Adegoke, AMBP-UN is a globally recognized scholar-practitioner and thought leader at the nexus of security, governance, and strategic leadership. His mission is dedicated to advancing ethical governance, strategic human capital development, and resilient nation-building, and global peace. He can be reached via: tolulopeadegoke01@gmail.com, globalstageimpacts@gmail.com
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Opinion
Give What, to Gain What? Reflections on the 2026 International Women’s Day Theme
Published
2 weeks agoon
March 5, 2026By
Eric
By Oyinkansola Badejo-Okusanya
At first glance, the theme of this year’s International Women’s Day celebration sounded a little odd to me.
Last year’s theme, Accelerate Action, was clear enough. You read it and immediately understood it as a call to move faster, push harder, do more, close the gaps. It was energetic, direct and unambiguous.
But “Give To Gain”? Give what? To whom? And to gain what, precisely? How is giving a pathway to gender equity? In the legal profession, and in leadership generally, we are trained to think in terms of advantage. What do I gain? What do I secure? What do I protect? But the more I reflected, the more I realised that perhaps that reflection was the point. Because my reflection took me to some of the most defining moments in my professional journey, and they did not come from what I took. They came from what someone chose to give.
A colleague who gave me insights instead of indifference, a leader who gave me visibility in a room where my voice would have been overlooked, a mentor who gave me honest feedback when flattery or a comfortable silence would have been easier.
None of those acts diminished them. They did not lose relevance, influence, or authority. If anything, their giving expanded their impact. Sometimes, some of us act as though giving someone else room to rise somehow shrinks our own space. But leadership does not weaken when it is shared wisely. It deepens.
That is the quiet power behind “Give To Gain”, and the paradox at the heart of this year’s theme. “Give To Gain” is not a call to diminish ourselves. It is a call to invest in one another because when we give from strength, we gain strength. So give respect.
give access. Give honest evaluation. Give opportunity without prejudice. And you will gain trust, loyalty and potential. Give mentorship and gain contunuity, give equal footing and gain the full measure of talent available. That kind of giving multiplies gain.
So perhaps the theme is not so odd after all. In a world that often asks, “What do I stand to lose?” this year’s International Women’s Day asks instead, “What could we stand to gain, if we were all willing to give?”
In the context of gender equity, the theme becomes even more compelling. Giving equal footing is not about doing women a favour; it is about acknowledging merit. When barriers fall, capacity rises to the surface. When access expands, talent flourishes. When women thrive professionally, institutions gain.
Against this backdrop, I began to think about the remarkable women who embodied this principle long before it became a theme. Women who gave intellectual rigour to complex situations and gained distinction. Women who gave courage and resilience in the face of resistance or in rooms where they were the only one, and gained respect. Women who gave mentorship to younger women and gained a legacy that cannot be erased.
Women who gave integrity to public service and the private sector and gained trust and admiration that cannot be manufactured.
Women whose boldness did not ask for permission to contribute. They did not lower their standards to fit expectations.
They gave of their intellect, their discipline, their time and their resilience, and in doing so they expanded the space for others. That is the spirit I want to honour this IWD month.
Beginning tomorrow, on International Women’s Day and continuing through all the remaining days of March, I will be celebrating a female icon who exemplifies this principle. Women who have given and gained. Each day, one story. One journey.
One example of boldness in action. Not to romanticise their journeys or suggest that their paths were easy, but to illuminate them and show what is possible when you dare to try.
Each profile will tell a story of contribution and consequence, of how giving strengthens, and how excellence, when sustained with integrity, inevitably earns its place.
My hope is that other women will read these stories and recognise themselves in them. That men also will read them and see leadership, not limitation. And that we will all be reminded that progress is rarely accidental. It is built, often quietly, by those willing to give more than is required.
If this year’s theme “Give To Gain” means anything to me, it means that we must intentionally amplify the inspiring examples that prove what is possible when women are bold.
Because inspiration and visibility are forms of giving. And sometimes, the simple act of telling a story is the spark that lights ambition in someone who was unsure where or whether she belonged.
This March, I choose to give inspiration and visibility and honour where it is so richly deserved.
And I trust that in doing so, we will gain a stronger world, a clearer sense of direction and possibility and another generation of women bold enough to step forward without apology.
Now the theme no longer seems strange. Now I understand that when we give boldly, we gain collectively. And that is a theme worth celebrating.
Oyinkansola Badejo-Okusanya, SAN FCIArb
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