Connect with us

News

The Mentality of Winning

Published

on

Kindly share this post

By Austin Okere

I first wrote this article on April 03, 2017, exactly three years ago. I feel compelled to share it again, as I believe that it is even more relevant today in this challenging circumstance; where nothing short of Visionary Leadership and a deep sense of Community and Resilient Followership is needed to steer our nation along this rocky path and to the other side of the wave.

Austin Okere

“The thing about winning and losing is that they are both self-reinforcing.” …Austin Okere

The Gunners as a metaphor

As an Arsenal football club fan, how do I convince anybody that the team is good or that coach Arsene Wenger is doing a good job, given the long spate of trophy draught and inexplicable losses in the current season both in the English Premier league and the Champions league?

The mentality of winning and losing – the Tyson effect

Winning reinforces your self-confidence and instils an inherent mythical fear in your opponents. The whole team is energized and ready for the next win. Losing on the other hand, engenders a loss of confidence and a significant level of demystification, inviting all manner of opponents to fancy their chances at you, as happened when the erstwhile unbeatable heavyweight boxing champion, Mike Tyson lost to a lowly challenger, Buster Douglas in 1990 in Tokyo, Japan.

This was followed by a string of losses leading to a less glorious retirement, highlighted by his biting off the ear of an opponent, Evander Holyfield, during a boxing match. Thus, was dimmed a golden opportunity of going down in history as one of the greatest heavyweights of all time.

Reversing the pattern – Leicester City FC finds her magic

Taking the steps required to reverse your losing spree and shifting into a winning mentality restores your lost glory, seemingly obliterating the past string of losses e.g. Leicester City Football Club; after parting ways with coach Claudio Ranieri (ironically the same coach that propelled them to the dizzying heights of winning the English Premier League title last year) have suddenly become unstoppable again; beating the better rated Spanish side, Sevilla FC for a place in the Quarter Finals of the UEFA Champions League. Even as first timers, they are the only English team still flying the British flag where great teams such as Manchester City and Arsenal have crashed out.

Winning is ‘In spite of’; Losing is ‘because of’ – the Usain Bolt determination

A loser’s mentality is strongly underpinned by a culture of excuses; finding ‘very good’ reasons why you didn’t make it, or why you lost; as if this will magically convert the loss into a win. An earful of balderdash at best.

A winner’s mentality on the other hand, is centred on ‘making it’ in spite of all odds. A very good example being Usain Bolt, who not only holds the world record for the fastest human dead or alive, but also winning three gold medals in the 100m, 200m and 4X100m races in three consecutive Olympics; Beijing (2008), London (2012) and Rio (2016) – Now, that is a winner with a strong winning mentality.

Believe me, it is never a walk in the park. He knew what he had to do when overconfidence brought an embarrassing loss to his training partner and competitor Johan Blake. Blake beat Bolt to second place in both the 100m and 200m at the 2012 Olympic trials in Jamaica, and this was just about a month to the London Olympics.

Just imagine the pressure that Bolt would have felt. In the beginning he resorted to excuses; he blamed the 100m loss on a poor start, and the 200m on a poor bend. Realizing that a golden dream was evaporating before his eyes, he quickly faced reality in his following statement capturing his renewed attitude “it’s all about work and just needing to get my things together and get it right. I’ve got to get in the work and figure out what I did wrong”.

And with that he got himself in shape in time to win both events at the London Olympics. He did work very hard and deserved the results and his place in history (watch the documentary on him titled ‘I am Bolt’).

The Nigerian Super Eagles – Our ‘Invincible’ of old

I remember with nostalgia when all the immigration officers in the countries that I visited in the 1990’s became very friendly upon sighting my Nigerian Passport, reeling the names of our Super Eagle players and asking me if I knew them; Jay-Jay, Kanu, Amuneke, Keshi, Okewchukwu, Taribo, Oliseh, Rufia, Amokachie, Yekini, Siasia, Ikpeba and the host of others .

These were the glory days of Nigerian soccer, where other teams’ reverence of our players conferred on us very deep respect as a country. Not so these days; we have managed to get ourselves stuck in a losers’ mentality to the extent that ‘the giant of Africa’ did not even qualify for the last edition of the African Nations Cup in Gabon this year.

We managed to win the bronze medal at the Rio Olympics, but who remembers, after the unbelievable story of our players being stranded in America and arriving only hours before their opening match; what manner of organization?

The headlines in the global media were enough to make every Nigerian bow their heads in shame. The Mirror succinctly captured it thus “Nigerian Olympic football team stranded in Atlanta hours before first game after unpaid flight bill”.

You did not need to read the body of the copy to see how shoddy our organization could be. How can we aspire to Gold with this attitude?

We need the right attitude to aspire to greatness – the China and Dubai examples

Countries like the UAE did not attain their heights by sudden flight, but rather toiled over the midnight candle while other less ambitious ones floundered, more so the ones with more human and natural resources and much more potential. They have keyed into a certain winners’ mentality that sees them breaking record after record.

For instance, The Burj Khalifa in Dubai is the tallest building in the whole world. A trip to Dubai will convince you beyond doubt about how seriously they take themselves, and how seriously everybody takes them. China is another story. For over three decades, China has had the world’s fastest growing major economy.

The country is in the midst of urbanization on an unparalleled scale. With more than 1.3billion citizens, China is the world’s most populous country. Until the late 20th century, most of her citizens lived in rural areas. Within a 50-year span, the percentage of city-dwellers rose from 13 to 50%.

On a recent visit with my wife, we could only marvel at the scenic beauty of the West Lake area of Hangzhou, the capital of Zhejiang province. Our Chinese tour guide, Mr. Forrest informed us that the plan of the Government was to lift a third of the population into the millionaires club within the next 10 years.

Without power, we have not even started – the Murtala Mohammed Airport blues

Africa is called the Dark Continent for a reason; it is ‘literally’ pitch dark when you fly overhead at night, due to the dearth of electric power. The sound track of Lagos, and indeed many Nigerian cities is the din of generators coughing up smoke into the already polluted environment, making the ban on public smoking of tobacco quite superfluous.

From reliable reports, our International Gateway, Murtala Muhammed Airport (MMA) has had to rely on candle lights more than once, due to power outage (and unbelievably, failure of the Generator secondary source).

To tell it the way it is, MMA being the first and last impression of a visitor to Nigeria is either a misrepresentation, or a sad commentary on us as Nigerians. The non-functioning escalators over many years, projects us as a set of very unserious people.

How complex is the technology and what will it take to fix it? The drive from the airport to the foot of the Third Mainland Bridge that takes you into the commercial business districts of Victoria and Lagos Islands could qualify as one of the most uninspiring airport rides in the world – again, can this not be fixed; Really? A famous Irish proverb that says ‘nodding the head does not row the boat’ seems to sum this up.

Are we passionate about our country – should we be?

Is it true that passion is something you value more than your life? Something you are willing to die for? If so, are we passionate about Nigeria? Should we be? Are other nationals passionate about their countries? Growing up in Ghana, my motherland, I really felt very passionate about her, as I believe were the sentiments shared by my other classmates.

The Chinese, Japanese, Europeans, Americans and all the places we love to flock to are very passionate about their countries and will gladly use their talents to help her to win; be it at the Olympics or the World Cup.

Many a times our Athletes and Players have made money a precondition; and who can blame them? The experience seems to suggest that the officials bail with the money immediately after the games. The objective all round seems to be the money rather than the glory for country.

Epilogue – where we should be headed

As a country, we have the complete ingredients for success; human, mineral and material resources in abundance. What we need are people that can dream and turn the dream into an executable plan. Execute and live the dream. Dubai has proved this theory, we just need to follow the path to success.

We have to strongly shun the temptation to try to ‘win by shortcuts’. Imagine that Nigerians lost a whooping N18b ($45m) to the MMM Ponzi scheme, despite many warnings by the Central bank.

This is not the first time and unlikely to be the last time we embark on such get-rich-quick misadventure. We flock to all manner of religious centres and shrines looking for money doubling miracles instead of putting in brainpower and manpower towards our endeavours.

As Mary Robinson said, nobody can go back to create a new beginning but anybody can start today to create a new ending. This is what we must do as a country. Everybody needs to put in the disciplined hard work and dig into our inner recesses to find our own winning ways! We need to start in earnest to develop and sustain the serious mentality of a winner.

We need to genuinely create an enabling environment underpinned by peace and security that nurtures prosperity for all, rather than all for a cabal.

This is our chance – the tide in the affairs of Nations

“There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now afloat, And we must take the current when it serves, Or lose our ventures”. This is the admonition of Brutus to Cassius in William Shakespeare’s epic, Julius Caesar.

Nigeria today is presented with such an opportunity. The current economic challenges after decades of squander and squalor have presented us with the golden opportunity of a reality check devoid of the distractions of easy oil money. This difficult period is too painful to waste. We must seize the opportunity for a reawakening, and realign towards doing the right thing and cultivating a winning mentality. If not now, then when? If CWGnot you, who?

Austin Okere is the Founder of CWG Plc, the largest ICT Company on the Nigerian Stock Exchange & Entrepreneur in Residence at CBS, New York. Austin also serves on the Advisory Board of the Global Business School Network, and on the World Economic Forum Global Agenda Council on Innovation and Intrapreneurship. Austin now runs the Ausso Leadership Academy focused on Business and Entrepreneurial Mentorship


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

Lasaco Assurance Gets Shareholders Approval to Advance Capitalization Plans

Published

on

Kindly share this post

Lasaco Assurance Plc has received formal commitment letters from shareholders following its recent Extraordinary General Meeting, strengthening confidence in the company’s plan to raise additional capital in line with regulatory requirements and ongoing insurance sector reforms.

Speaking on the development, Ademoye Shobo, acting managing director of Lasaco Assurance Plc, said the confirmation from shareholders provides clarity and certainty as the company moves to execute its approved capital-raising strategy.

“The commitment letters from our shareholders give us the confidence to proceed with our capitalisation plans in line with the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and other regulatory requirements guiding the insurance industry.

“We will leverage all available opportunities to raise the approved capital, and our existing shareholders should watch out for our rights issue as part of the process,”  Shobo said.

With shareholders’ backing now formally documented, Lasaco Assurance Plc plans to actively pursue available funding options to deliver the approved capital raise. The company plans to deploy a mix of market-based instruments, including a rights issue and other permissible fundraising structures, to ensure timely and effective capital mobilisation.

The Management noted that the commitment letters reinforce investor confidence in the company’s growth strategy, governance framework, and long-term outlook. The capital raise is expected to support balance sheet strengthening, improve underwriting capacity, and provide greater flexibility for business expansion across core insurance segments.

As part of the process, existing shareholders have been advised to watch out for the forthcoming rights issue, which will provide them with the opportunity to participate proportionately in capital expansion. The company reaffirmed its intention to ensure transparency and regulatory compliance throughout the fundraising exercise.

Lasaco Assurance Plc views the capitalization drive as a strategic step toward sustaining competitiveness, enhancing risk-bearing capacity, and positioning the company for future growth within Nigeria’s insurance market. The initiative also aligns with broader industry efforts aimed at strengthening the company’s financial resilience and protecting policyholders’ interests.

 


Kindly share this post
Continue Reading

News

Ecobank Nigeria to Host Customer Forum on Strengthening Regional Integration for Economic Transformation

Published

on

Kindly share this post

Ecobank Nigeria is set to host the second edition of its Customer Forum, at the Ecobank Pan-African Centre, Ozumba Mbadiwe Avenue, Victoria Island, Lagos.

The forum, organised by the bank’s Fixed Income, Currencies and Commodities (FICC) Business (Treasury), is themed ‘Strengthening Regional Integration for Economic Transformation.’

It is designed to examine critical issues shaping Nigeria’s and Africa’s economic outlook in 2026, with particular focus on trade, financial markets, foreign exchange liquidity and regional integration, especially as the African Continental Free Trade Area (AfCFTA) agreement enters a strategic phase of implementation.

Announcing the event in Lagos, the Regional Treasurer, Ecobank Nigeria Limited, Olumide Adebayo, said the one-day programme reinforces the bank’s role as a trusted financial partner and customer-focused institution, with intention to foster dialogue, support informed decision-making and deeper regional economic integration across Africa.

According to him, the programme will open with welcome remarks by the Managing Director/Regional Executive, Ecobank Nigeria, Mr. Bolaji Lawal, who will underscore the bank’s commitment to supporting customers and driving inclusive growth through strategic dialogue, innovation and pan-African collaboration.

The keynote address, titled ‘The Future of Trade in Africa: Harnessing the AfCFTA for Economic Transformation,’ will be delivered by the Group Chief Economist & Managing Director, Research and Trade Intelligence, African Export-Import Bank (Afreximbank), Dr. Yemi Kale.

His address will provide insights into Africa’s trade prospects and the transformative potential of the AfCFTA.

The forum will feature two high-level panel discussions: balancing the Risk between Interest Rate and Exchange Rate: Business Expectations and Outlook in 2026 and Export Proceeds, Oil Receipts and Remittances in 2026: Exploring Options that Best Support FX Liquidity and Flows in Nigeria.

The event would be moderated by Messrs. Aruoture Oddiri, Host and Producer of Global Business Report on Arise News and Barnabas Vajeh of Ecobank Nigeria Limited.

Ecobank Nigeria is a member of the Ecobank Group, the leading pan-African banking institution with operations in 33 African countries and international offices in London, Paris, Beijing and Dubai.

With over 220 branches, more than 36,000 agency banking locations, and robust digital platforms, Ecobank delivers accessible, affordable, and instant banking services. The bank is strategically positioned to support pan-African trade, particularly under the African Continental Free Trade Area (AfCFTA).


Kindly share this post
Continue Reading

News

Lagos to Establish West Africa’s Premier International Financial Centre

Published

on

Jonny Baxter, British Deputy High Commissioner; Babajide Sanwo-Olu, Lagos State Governor; Anna Rogers, Director, International Development, TheCityUK; and Aigboje Aig-Imoukhuede, Board Chairman, EntrepriseNGR, at the launch of the LIFU report, last week at State House Marina, Lagos.
Kindly share this post

TheCityUK, in partnership with the UK Government, Lagos State Government, Lagos International Financial Centre Council (LIFCC), and EnterpriseNGR, have unveiled a landmark report, “Establishing an International Financial Centre in Lagos (LIFC), Nigeria”, outlining a strategic roadmap to transform Lagos into the West African hub for international investment capital driving innovation, and sustainable growth across the country and the wider region.

The LIFC initiative aligns with Nigeria’s Agenda 2050 and the Lagos State Development Plan 2052, to deliver long-term economic prosperity, deepen financial markets, and attract productive global investment. The project showcases the power of public-private partnership, bringing visionary leadership from the government together with private sector companies seeking to tap into Nigeria’s young, dynamic market to deliver economic growth.

The report was launched at an event at State House Marina with guests including Lagos State Governor, Babajide Sanwo-Olu, British Deputy High Commissioner Jonny Baxter, and EnterpriseNGR Board Chairman and CEO, Aigboje Aig-Imoukhuede and Obi Ibekwe.

Key Highlights from the Report:

  • Strategic Vision: The LIFC will support Nigeria’s ambition to become an upper-middle-income country by 2050, driving inclusive growth, reducing poverty, and creating high-value jobs, especially for Nigeria’s talented youth.
  • International Collaboration: The report highlights the benefit of strong UK-Nigerian co-operation, building on best practices and global benchmarks to align the LIFC with international standards.
  • Model Recommendation: The report recommends the development of an independent IFC model for Lagos, and the steps to achieve this. An IFCwill deliver, regulatory clarity, simplified tax and policy settings and offer greater investor confidence and economic benefits for the wider Nigerian economy.
  • Unique Selling Points: The LIFC should focus on areas which can deliver the greatest economic benefits matched to investor interest. Consultations have suggested three areas for its initial focus: Green and Sustainable Finance, FinTech & Innovation, and Commodities Trading & Capital Markets. These sectors are identified as key drivers for Nigeria’s future competitiveness and growth.
  • Governance and Legal Reform: The report calls for robust legal and regulatory frameworks, an independent governance framework, and strong collaboration between Lagos State, Federal Government, and private sector stakeholders to drive the implementation of the IFC.
  • Talent and Human Capital: A focus on developing domestic talent, easing visa regimes for international professionals, and building a pipeline of skilled workers will underpin the LIFC’s success.
  • Tax and Incentives: Recommendations include competitive tax regimes, tailored incentives for investment that aligns to the national vision, and streamlined business processes to attract global capital.

On the report, Babajide Sanwo-Olu, Lagos State Governor, said, “Lagos is fully committed to the birth of the International Financial Centre. We know that it is a veritable means of supporting seamless trading and to enhance competitiveness of financial markets.

As Nigeria’s largest economic and financial centre, Lagos plays a critical role in driving the nation’s capital markets. We need to create an ecosystem that will help to facilitate investment flows, enhance market liquidity, and promote financial literacy.

“The LIFC initiative will not only strengthen our market infrastructure but also unlock new opportunities for public-private partnerships in technology and capital market development. It will support seamless trading, attract foreign investment and enhance competitiveness of financial markets.”

Jonny Baxter, British Deputy High Commissioner, commented; “The launch of the Lagos International Financial Centre report reflects the deepening of UK-Nigeria partnership, combining Lagos’s comparative strengths with UK expertise.

Anchored in clear, evidence‑based analysis and launched at a pivotal moment in Nigeria’s reform journey, the LIFC has the potential to unlock major domestic and international investment, deepen capital markets, create jobs, and drive sustainable economic growth across the country, not just in Lagos State.”

Nicola Watkinson, Managing Director, International, TheCityUK, said, “Nigeria is a high-growth, dynamic and large market and the Lagos International Financial Centre could be vital to its future.

By building a modern, integrated business and regulatory environment and financial ecosystem, the LIFC will support the attraction of global and domestic capital, deepen domestic markets, facilitate innovation in FinTech and green finance, and create high‑value jobs for Nigeria’s youth.

“Supporting the development of Lagos as an international financial centre is a clear example of how the UK and Nigeria are deepening their strategic partnership.”


Kindly share this post
Continue Reading

Trending