Serial digital entrepreneur, Leo Stan Ekeh, the Chairman of Zinox Technologies Limited, identified corporate blackmail and bullying as significant reasons for the exit of multinationals from Nigeria.
While acknowledging the challenges related to forex scarcity, Ekeh emphasized the destructive impact of corporate blackmail on businesses and urged President Bola Tinubu to address these issues.
Ekeh pointed out that while some companies attribute their exit to forex challenges, they often face blackmail and corporate bullying, hindering their operations. He urged the government to tackle these issues and create an environment conducive to the ease of doing business.
He cited his company, TD Africa, as an example of facing false allegations and blackmail. Ekeh stressed the need for a legal system that can efficiently protect businesses from such tactics, emphasizing the negative impact on foreign direct investments (FDI).
Ekeh urged President Tinubu to promote policies that support indigenous manufacturers and service providers, fostering self-sufficiency and boosting the economy. He highlighted the importance of embracing local capacities and creating a market for indigenous products.
Additionally, Ekeh called for the activation of the suspended national census, emphasizing the need for a credible database for decision-making.
He suggested releasing Tablet PCs used during the census to educational institutions, allowing students to acquire digital skills for global competitiveness.
In addressing these challenges, Ekeh believes that Nigeria can attract more foreign investors and create a more robust and self-sufficient economy.
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