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SPIDS LOGISTICS BOSS, AYO AKINRINSOLA RECOUNTS GRASS TO GRACE STORY +Why He Is Eyeing Ondo Governorship Seat

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The grass to grace story of SPIDS LOGISTICS LIMITED boss, Ayo Akinrinsola is not only inspiring, it is also must read for those who want to build their business from the scratch. Having graduated from The Obafemi Awolowo University his search for jobs without success led him to start a Logistics firm on a small scale and today the business has grown beyond his expectation. He also stated why he will be contesting for Ondo state governorship in the next election in this interview

 

 

Why did you decided to set up a business after school and not search for jobs?

Of course i do searched for jobs after i graduated from the Obafemi Awolowo University but the jobs are not coming forth. The expectation was that i get a job,but i realised it was not easy as i thought it would be, after my NYSC I came to Lagos and did some job tests but at the end I was not shortlisted for the job I applied. I have a friend who was into Logistics, I joined his team instead of staying at home on a voluntary basis. With that I learnt the rudiments of the business, I also did teaching job because I don’t like to stay idle, at that time I got a scholarship for a Post Graduate course in Netherlands, after the course I came back to Nigeria and I decided to leverage on my experience on the business to start immediately, I reached out to my contacts and thats it. Fortunately for me I got a contract from a Telecommunication company, they needed a warehouse which i got for them, that was my first job and from there we were expanding gradually.

 

What would you say is working for you in this kind of business this far?

 

The grace of God has kept us going, Apart from that you must be a very good resource manager to succeed on this job, accountability also matters, transparency and discipline. Another thing that has sustained us is the good name, I have a name to protect, you can give me your job and go to sleep. We have got referrals from big organisations, multinationals, it is because we have integrity. I don’t also joke with staffs welfarism their salary is very important because they too have to make a living.

 

Could you please define the exact nature of the task at Spids Logistics?

 

We are into warehousing management, supply chain management we do warehouse sourcing and management, we do customize warehousing, distribution of goods and services. We source for warehouse for multinationals and big organisations, we help them keep their goods and also help distribute to the end users

 

Does one need a lot of money to set up a business like this?

 

You don’t need a lot of money to set up business like this, I started by understudying somebody who was also into the business, in the process i met so many people who took interest in me. The most important thing is if you meet people who believe in what you can do, you don’t need huge capital to start the business, the business is all about trust and integrity

 

You studied Accounting in the University, how much of that would you say has helped you in this business?

 

It has in a way, I studied Accounting at Obafemi Awolowo University, I did Financial Management in Netherlands, I did other course that is related to management.Yes my educational experience has helped and is still helping me in the business especially in the area of cost management. But it is not always what you study in school that come to play outside there, it is all about what you can do, the people you relate with and your perception. Because of competition I sleep less, I am always looking for new ideas that can give us the edge over others.

 

How would you describe life as the CEO?

 

It is quite challenging, when you have a lot to think about, the business, staff welfarism, family, the growth of the business matters to you more. It is not all work and no plays, I play golf for relaxation, nobody is perfect but i try as much as possible to strike a balance between my work and family.

 

How would you describe your lifestyle?

 

I live a simple lifestyle, i don’t drink alcohol,i don’t smoke and i don’t womanize. During my leisure time i like to dance, i play indoor games like Basketball, Scrabble, Chess. I love gadgets, cars but i only buy them when i think it is necessary.

 

Give us a brief about your immediate family?

 

I got married in 2005, to the glory of God we are blessed with three children

 

Why the sudden interest in politics?

 

I have being following politics since the days of SDP and NRC in the early 90s, I remember when i clocked 18 i was excited that i would be able to vote. I am from Ile Oluji in Ondo state, i was born with a silver spoon but I wasn’t trained with a silver spoon, i am from a Polygamous family. I joined Politics because i want to impact in the lives of my people especially in Ondo state, that state is blessed with natural resources that if well managed will create job opportunities for the youths in that state. People will not run to Lagos to seek for job again, this is the time to make impact. I admire people like Asiwaju Bola Tinubu, he is the Architect of a new Lagos that is why people like me can succeed in this environment. I am a supporter of well organised Political Party, APC as a party understand the plight of the common man.

 

So why do you want to contest for the Governorship and not from a lower profile?

 

This is the time that i still have the energy, i want to manage the endowment of the state, i want to bring my experience as a resource management to bear in the governance of Ondo state. In Ondo state we have oil, bitumen and others, we need accountability in governance of the state, who says we cant have sea port in Ondo state? I have thought about it very well and i am convinced it is possible.

 

How would you describe the current political situation in Nigeria?

If you see the manifestoes of the two major political parties in Nigeria the All Progressives Congress APC is the only party that has the interest of the people in their plan. APC is a party of highly intellectuals who know how to meet the needs of the common man, they know what it entails to make the common man relevant, they know the pain that the common man is going through. You can see leadership by example since APC took over, President Buhari and his Vice Yemi Osinbajo led by example by cutting their salaries by half, the wind of change is blowing and i am ready to channel that wind into my state Ondo so that people will also enjoy the new things, there is no better time than now.

 

Was it because you want to contest for an election that you set up an empowerment scheme for the youths?

 

Before the end of the year we are going to launch the scheme fully and it is called, AYO AKINRINSOLA YOUTH EMPOWERMENT FOUNDATION. I am concentrating on the artisans, market women, petty traders, farmers, commercial drivers, unemployed youths, civil servants, pensioners, widows. This is what i have being doing before now, it has being part of my lifestyle to help people, it is not because i want to run for an elections. I just want to extend it to the state and allow more people to benefit.

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Access Holdings: Imprints of a Thriving Banking Powerhouse

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Access Holdings: Imprints of a Thriving Banking Powerhouse, By Bolaji Israel

Access Holdings has continued to evolve and reinforce its corporate stature as a formidable force in Nigeria’s financial sector, demonstrating capacity for relentless growth, resilience and ambition through strategic expansion and innovative approaches. The entity owes its significant bulk to the Access Bank Group, supported by other allied services firms.

Also known as Access Corporation, the group has grown over the last 35 years to emerge as Nigeria’s largest financial holding company, offering services such as commercial banking, lending, payment, insurance, and asset management.

Though Access started off as a corporate bank, it swiftly expanded into personal and business banking in 2012, solidifying its role as a well rounded financial solutions provider.

In his memoir, ‘Leaving the Tarmac: Buying a Bank in Africa, ‘ Aigboje Aig-Imoukhuede detailed how himself and his partner, Herbert Wigwe walked the delicate path of buying Access Bank and never looked back since.

The bank’s acquisition in March 2022 by the maverick duo of Aig-Imoukhuede and Wigwe, which changed its entire growth, profit and branding trajectory as well as its merger with Diamond Bank in 2019 which shot up its customer base to over 42 million, granting it a status of the largest bank in Africa by customer base and the largest in Nigeria by assets, form a part of its remarkable and turnaround milestone.

With a keen focus on digitisation-driven growth and customer satisfaction, it has not only solidified its status in Nigeria but has also set its sights on becoming a formidable player in the international banking arena.

The group’s growth and expansion drive has been marked by a series of strategic acquisitions and mergers aimed at enhancing its market presence and delivering value to customers. In 2021, Access Bank acquired African Banking Corporation (ABC Holdings), a move that significantly bolstered its operations in Southern Africa. This acquisition allowed Access Bank to enter markets such as Botswana, Mozambique, and Zambia, thereby enhancing its regional footprint and customer base.

In addition to its African ventures, Access Holding has been eyeing opportunities in Europe and Asia. Recent announcements highlight the bank’s interest in potential partnerships and acquisitions that could facilitate its entry into these lucrative markets. The bank’s management has stated, “We are committed to diversifying our operations and exploring new markets that align with our growth strategy.”

The results of the expansion efforts have been promising. For the year ending 2023, Access Holding reported a staggering 300 percent growth in profit after tax to N612.4 billion, from N204.1 billion in 2022. This represents the largest profit ever recorded by the company, under the leadership of its late co-founder, Herbert Wigwe.

It revenue soared by 80% to N2.6 trillion, from N1.4 trillion in 2022 while assets rose by 78% to N26.7 trillion, from N14.99 trillion in 2022, marking a significant growth trajectory that positions Access Holding as one of Nigeria’s largest and most influential banks.

Leading Force in Financial Sector

Access Holding’s influence in the financial sector extends beyond its impressive growth metrics. The bank has taken on a leading role in advocating for financial inclusion and economic empowerment across Nigeria and Africa. Through various initiatives, Access Holdings is committed to providing access to banking services for underserved populations, thereby contributing to the broader goal of economic development.

The bank’s emphasis on technology and innovation has positioned it as a leader in the digital banking space, setting benchmarks for other financial institutions to follow. By continuously enhancing its service offerings and embracing new technologies, Access Holding is shaping the future of banking in Nigeria and beyond.

Innovations and Technological Advancements

Access has prioritized innovation as a cornerstone of its growth strategy. Over the past two years, the bank has invested heavily in upgrading its technology infrastructure to provide customers with seamless and efficient banking experiences. The launch of a robust digital banking platform is a clear testament to this commitment. The improved platform allows customers to perform a wide range of transactions, from fund transfers to bill payments, all from the convenience of their mobile devices.

The bank’s mobile banking app has also seen significant upgrades, incorporating features such as biometric authentication, personalized financial insights, and enhanced security protocols. These innovations have resulted in a marked increase in user engagement, with over 10 million active users reported in 2024.

Moreover, Access has revitalized its Point of Sale (POS) services to cater to the growing demand for cashless transactions. The bank has deployed thousands of POS terminals across Nigeria, facilitating secure and efficient payment solutions for businesses and consumers alike.

Leadership and Succession

The unfortunate demise of Dr Herbert Wigwe, CFR, the Company’s founding Group Chief Executive Officer and former Group Managing Director of its flagship subsidiary, Access Bank Plc on Friday, February 9, 2024, in a helicopter accident in the United States of America, would have constituted a permanent clog for any company without a formidable structure.

Access Holdings has however been able to rise above the dark moment and steadied the ship with the return of Aigboje Aig-Imoukhuede as Chairman and emergence of Bolaji Agbede as GCEO. The swift realignment is a clear testament to the group’s ability to deftly manage succession.

Growth Outlook and Ambition

Access growth results and targets highlight its ambitious nature. The banking group aims to achieve a market capitalization of ₦10 trillion by 2025, with plans to expand its customer base to over 50 million across its operational territories. This ambition is supported by strategic partnerships and potential mergers, not only within Nigeria but globally.

Analysts have noted that Access Holdings is well-positioned to capitalise on the growing demand for financial services across Africa and beyond. With a solid foundation and an eye on expansion, the bank is poised to become a leading financial institution on the global stage.

The landscape of mergers and acquisitions in the banking sector has been vibrant, and Access Holdings is keen on exploring potential opportunities. In Nigeria, the banking industry has witnessed a wave of consolidation, with several banks seeking to enhance their market positions through strategic mergers. Access has expressed interest in potential acquisitions that align with its growth strategy, particularly in the areas of technology and customer service.

Globally, the banking group is also exploring partnerships that can facilitate its entry into new markets. The management has indicated that Access Holding is open to collaborating with fintech companies and other financial institutions that can complement its service offerings and enhance customer value.

Awards and Commendations

Access Corp’s commitment to excellence and innovation has earned it numerous accolades over the past year. The bank was recognized as the “Best Bank in Nigeria” at the Global Finance Awards, a prestigious honour that underscores its leadership position in the industry. Additionally, the bank received the “Most Innovative Bank” award at the African Banking Awards, highlighting its commitment to embracing technology and improving customer experiences.

These awards reflect a solid dedication to maintaining high standards of service and its ability to adapt to the rapidly changing financial landscape.

Access Holdings trajeectory stands as a testament to what can be achieved through strategic expansion, innovation, and effective leadership. With its aggressive growth strategy, commitment to technological advancement, and dedication to customer satisfaction, it is firmly establishing itself as a thriving banking conglomerate.

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Adron Homes Marks 13 Years of Redefining Real Estate in Nigeria

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Adron Homes Marks 13 Years of Redefining Real Estate in Nigeria

Adron Homes Marks 13 Years of Redefining Real Estate in Nigeria

 

Adron Homes and Properties, Nigeria’s foremost real estate development company, proudly celebrates 13 years of transforming dreams into reality. Since its inception, Adron Homes has been at the forefront of providing affordable yet luxurious housing, making homeownership accessible to Nigerians across all socioeconomic classes.

 

With an unwavering vision to bridge the housing deficit, Adron Homes has set new industry standards, delivering thousands of high-quality homes in prime locations, including Lagos, Ogun, Oyo, Abuja, and Nasarawa. Through strategic expansions, the company continues to shape Nigeria’s modern real estate landscape.

 

Reflecting on this milestone, Adron Homes’ Chairman/CEO, Aare Adetola EmmanuelKing, expressed gratitude to clients, stakeholders, and staff for their support. “Our 13-year journey has been defined by resilience, innovation, and a relentless pursuit of excellence. We are proud of our impact and even more excited about the future as we continue to revolutionize real estate with world-class housing projects.”

 

Adron Homes’ success is built on its customer-centric approach, offering flexible payment plans that make property ownership stress-free. Beyond housing, the company has pioneered infrastructure development in its estates, ensuring residents enjoy premium amenities, security, and sustainable living environments.

To mark this anniversary, Adron Homes has unveiled a series of customer appreciation initiatives, including exclusive discounts, giveaways, and impactful CSR projects to give back to the community.

Looking ahead, Adron Homes remains committed to redefining real estate through innovation, strategic growth, and an unwavering dedication to customer satisfactions.

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Rite Foods Partners NASRE Foundation to Support Ailing Journalists

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Rite Foods Partners NASRE Foundation to Support Ailing Journalists

*Rite Foods Partners NASRE Foundation to Support Ailing Journalists

 

Rite Foods Limited, a leading indigenous manufacturer in the Food & Beverages sector, has partnered the Noble Association of Social and Resourceful Editors(NASRE) Foundation to provide support for ailing journalists and widows of deceased media practitioners in the country.

 

 

This collaboration comes as part of NASRE’s ongoing efforts to assist journalists facing health challenges across the country, having embarked on three outreach programmes last year.

Rite Foods Partners NASRE Foundation to Support Ailing Journalists

The NASRE team was warmly received on Wednesday, February 5th, 2025, by the management of Rite Foods at its Head Office in Ikeja, Lagos State.

Receiving NASRE team on behalf of the Managing Director of the company, Mr. Saleem Adegunwa, the Head of Corporate Communications and Brand Management , Mr. Ekuma Eze was elated with the visit.

Earlier during the visit, the Public Relations Officer (PRO) of NASRE, Mr. Adeyemi Obadimu had outlined the foundation’s mission and the purpose of the meeting. He revealed the health and financial challenges facing most veteran journalists, who had, during their active years, served the country meritoriously, but are now struggling to survive.

Obadimu highlighted that NASRE’s outreach programme last year was a success, benefiting over 70 individuals, including journalists suffering from partial stroke, widows, and widowers of deceased practitioners . He emphasised the importance of taking care of journalists in need, especially, the veterans who have contributed greatly to the industry.

“Journalism is a thankless job, and as much as we may be appreciated in our bylines, it is crucial that we care for our colleagues who have dedicated their lives to the profession,” said Obadimu.

Butressing his point, the Director, Public Engagement, Mr. Bunmi Obarotimi who represented the President of the association, Mr. Femi Oyewale said: “NASRE’s intends to launch the Foundation officially in this current year and we are proud to have Rite Foods as our partner going forward.”

In his response, Ekuma Eze commended NASRE Foundation for its noble and impactful initiatives, recognising the significant difference it has made in the lives of journalists and their families. He praised the foundation’s efforts in providing assistance to over 70 journalists and their dependents last year. Eze reiterated Rite Foods’ unwavering commitment to supporting initiatives that foster the well-being of the media community.

“At Rite Foods, we are deeply invested in contributing to the development of our society. We understand the importance of health and well-being, especially for those who dedicate their lives to sharing vital information with the public. We believe in the mission of NASRE and are committed to supporting your work in every way possible,” Eze stated.

“This partnership will go beyond just providing financial support; we are dedicated to helping create an ecosystem where journalists can thrive, even in the face of adversity,” he added.

He also spoke about the company’s long-term goals, highlighting Rite Foods’ plan to expand beyond Nigeria and into other African countries. “We have exciting plans for the future,” he added. “Rite Foods is committed to not only strengthening its footprint within Nigeria but also extending our reach to the wider African continent. We believe that our growth will not only benefit our business but also contribute to the national economy, creates job opportunities, and foster the development of the beverage and food sectors.”

Eze emphasised that Rite Foods has been actively involved in national economic development, focusing on reducing unemployment and improving service delivery. As one of the leading manufacturers in the beverage, drinks, and sausages sectors, Rite Foods remains committed to excellence in all its business operations, he said.

Through innovation, quality products, and partnerships like the one with NASRE, the company aims to continue breaking new ground in the industry.

He concluded that, “Our mission at Rite Foods is clear: to improve lives, deliver quality products, and contribute to the economic growth of Nigeria and Africa as a whole. We are proud to partner with organizations like NASRE that share our values of social responsibility and community development.”

The partnership between Rite Foods and NASRE marks a significant step in supporting the health and well-being of journalists, ensuring that those who have dedicated their careers to the industry receive the care and recognition they deserve.

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