1. Mr Demola Aladekomo CEP 1 - LBSAA President

MINUTES OF THE LBSAA GOVERNING COUNCIL MEETING HELD ON SATURDAY, FEBRUARY 16, 2013, AT ASTROTURF 2000, OFF SECOND AVENUE, OSBORNE ROAD, IKOYI, LAGOS

ATTENDANCE

2. Mr Steve Obiago SMP 40 - LBSAA Secretary

3. Mrs Irene Ubah AMP 8 - LBSAA EXCO Member

4. Mr Victor Dike AMP 12 - Class President

5. Mr Rufai Ladipo AMP 13 - Class President

6. Mr Idris Yakubu AMP 22 - Class President

7. Mr Victor Inyang AMP 24 - Class Secretary

8. Engr Godwin Amos Akpan CEP 15 - Class President

9. Mrs Kofo Akinkugbe CEP 18 - Class President

10. Mr Frank Uyakonwu CEP 19 - Class President

11. Mr Olanrewaju Bolu CEP 20 - Class President

12. Engr Charles Akindayomi CEP 21 - Class President

13. Mazi Philip Obioha EMBA 1 - Class President

14. Mrs Clare Omatseye EMBA 3 - Class President

15. Mr Isa Omagu EMBA 6 - Class President

16. Mr Tunji Agbaje EMBA 9 - Class President

17. Mrs Yetunde Badejoko EMBA 13B - Class President

18. Mr Dokun Ogunbodede EMBA 14A - Class President

19. Mr Paul Orajiaka EMBA 14B - Class Secretary

20. Mr Bolaji Akinola EMBA 15 - Class President

21. Mrs Ade Jibowu FTMBA 1 - Class President

1 22. Mr Udoka Okonta FTMBA 7 - Class Secretary

23. Mr Dapo Adelegan OMP 2 - Class President

24. Mr Sinari Daranijo OMP 4 - Class President

25. Prince Aderoju Ademoroti OMP 13 - Class President

26. AVM Femi Gbadebo OMP 15 - Class President

27. Ms Osude Adeola OMP 16 - Class Secretary

28. Mr Paul Abiagam SMP 36 - Class President

29. Mr Emmanuel Ehinola SMP 39 - Class President

30. Mr Kunle Ojelabi SMP 41 - Class President

31. Mr Tony Egunjobi SMP 45 - Class President

32. Mrs Bukola Raji SMP 46 - Class President

33. Mr Henry Onukwuba EMBA 9 - Director, Alumni Relations

34. Mr Seyilayo Ojo OMP 13 - Class Secretary (in attendance)

35. Mr Dianabasi Akpainyang Alumni Relations Administrator (in attendance)

APOLOGIES

1. Mr Felix Ovbude AMP 14 - Class President

2. Mr Tayo Obasanya EMBA 12 - Class President

3. Chief Poly Emenike OMP 3 - Class President

4. Mr Oluwaseun Fajebe FTMBA 9 - Class President

5. Mr Adedayo Ojo SMP 21 - Class President

6. Mr Wole Oshin CEP 9 - LBSAA Vice President

7. Dr Enase Okonedo EMBA 1 - Dean, LBS

8. Mr Peter Eze SMP 19 - Class President

9. Mr Abimbola Olashore AMP 5 - LBSAA EXCO Member

2 AGENDA

1. Opening

2. Minutes of Last Meeting and Adoption

3. Matters Arising

a. Career Portal

b. 2013 President’s Dinner

c. LBS Endowment Fund

d. Walkathon

4. Alumni Director’s Report

5. Class Reports

a. SMP 44

b. SMP 46

c. MBA 9

d. EMBA 15

e. OMP 16

f. CEP 21

6. A.O.B.

7. Closing

1. OPENING

The meeting started with an opening prayer by Mr Seyilayo Ojo (OMP 13). The President of LBSAA, Mr Demola Aladekomo who presided over the meeting, thanked everyone present for making out time to attend the meeting and noted that it was a show of support and commitment to the aspirations of the leadership of the Lagos Business School Alumni Association.

2. READING AND ADOPTION OF MINITUES

The minutes of the last Governing Council meeting were read and adopted by a motion moved by Mr Tunji Agbaje (EMBA 9) and seconded by Mrs Clare Omatseye (EMBA 3).

3 3. MATTERS ARISING a. Career Portal:

Mr Henry Onukwuba assured the Council that the career portal will be functional within a month as finishing touches are currently being put on the portal. b. President’s Dinner 2013:

The dinner is set to hold on Saturday, June 8, 2013 at Eko Hotel and Suites. The event planner of last year – Senantra Limited, has been retained and will take charge of the planning of the dinner. A budget of over N27m has been drawn up for the dinner and a substantial part of the funds will be paid to Eko hotel as cost of venue, food and drinks. Mr Henry Onukwuba disclosed to members that allotment of tables will be done on first-come-first-served basis in order to give opportunity to classes and companies which make early payment to choose the table locations suitable for them.

Furthermore, the dinner ticket cost has been increased slightly from N20, 000.00 to N25, 000.00 for a couple’s ticket and from N12, 000.00 to N15, 000.00 for a single’s ticket. Mr Onukwuba encouraged members to buy corporate tables as the benefits are numerous. Some of the benefits he highlighted include: association with the strong LBS brand, mention in all communication materials before and after the event, mention in newspaper advert publications, networking opportunities and free advert in Footprints (for the major sponsor alone).

Mrs Clare Omatseye announced that her company, JNC International Limited will take a corporate table at the dinner. Mr Demola Aladekomo and Engr Charles Akindayomi also announced a table each for Chams Plc and CA Consultants Ltd respectively. Class Presidents made bookings for tables on behalf of their classes as listed below:

i. EMBA 3 - 1 table (paid)

ii. EMBA 1 – 1 table

iii. CEP 21 – 1 table

iv. CEP 15 – 1 table

v. EMBA 9 – 1 table

vi. OMP 13 – 1 table vii. EMBA 14A – 2 tables viii. OMP 15 – 1 table

ix. AMP 24 – 1 table

4 x. CEP 19 – 1 table

xi. AMP 12 – 1 table xii. AMP 22 – 1 table xiii. SMP 41 – 1 table xiv. EMBA 15 – 2 tables xv. OMP 2 – 1 table

It was resolved that payments for the bookings made should be done within the next one month and that priority should be given to the classes listed above with respect to choice of table locations (provided that payment is made before March 15). Council members advised that the event planner should come up with a sitting arrangement that will give everyone in the hall a sense of belonging minding the fact that having people occupy the tables at the back of the hall will be inevitable. The need to pay early in order to help the organisers do their job effectively was emphasised.

4. ALUMNI DIRECTOR’S REPORT

Mr Henry Onukwuba summarised his 9-page report to the Council under the following sub- headings: Membership, Class Activities and Highlights of Activities Held in 2012. The following corrections and comments were made after the presentation of the report:

 CEP 21 had 20 participants and not 24 as stated in page 1 of the report. Mr Onukwuba clarified that 4 participants were members of CEP 20 who did not complete their programme the previous year.

 The representative of OMP 16 also disclosed that they were 37 in number and not 42 as stated in the report.

 EMBA 3 had a meeting at Dr Fabian Ajogwu’s residence last year but it was not captured in the report. Mrs Clare Omatseye will furnish the alumni office with details of the meeting. According to Mrs Omatseye, a new vice president was elected for the class, in the person of Mr Shola Olubi.

 EMBA 9 class meeting at Crown estate carried the wrong date.

 EMBA 14B had a class meeting within the review year that was not captured in the report.

 AMP 22 CSR event at Anambra State in December 2012 was also not in the report.

 AMP 22 class meeting in August 2013 at Lekki was not included in the report.

5  EMBA 15 CSR event at Ikoyi Prisons was missing in the report. Mr Bolaji Akinola clarified that the visit to the Nigerian Stock Exchange was not a CSR event.

 Mr Kunle Ojelabi complained of the poor service delivery to the vice president of his class while the latter tried to use the airlines discounts. This, he noted may affect his membership dues marketing drive to his class members.

 However, Mrs Clare Omatseye observed that she has saved a substantial amount of money by using the airline discounts. She commended the responsiveness and professionalism of the staff of the LBS alumni office as well as staff of HRG travel agency.

 Mr Paul Orajiaka suggested that subsequent study trips to China should be scheduled within the period of Chinese international trade fairs to enable participants benefit from the trade and networking opportunities that abound at such fairs. The Council supported this suggestion and Mr Onukwuba was advised to consider it when choosing dates for the trip.

 On the LBS Endowment Fund, the LBSAA President informed the Council that the pledge of N10m made on behalf of his class – CEP 1 will be redeemed by April 2013. In the same vein, Mr Philip Obioha promised that his class will redeem their N10m pledge by April 2013. Engr Godwin Akpan and Mrs Clare Omatseye promised that their classes – CEP 15 and EMBA 3 will redeem their pledges of N1.25m and N10m by June and December 2013 respectively. Mr Rufai Ladipo made a pledge of N1m on behalf of AMP 13 to the LBS Endowment Fund and assured the Council that the pledge will be redeemed by end of June 2013.

5. CLASS REPORTS

i. SMP 45: The class secretary who showed up earlier was not available at the appropriate time to give his class report.

ii. SMP 46: Class President, Mrs Bukola Raji reported that the class has 31 members out of which 22 are financial members of LBSAA. The class is currently building up its financial base which has led to the opening an account with First Bank of Nigeria Plc. Mrs Raji noted that the class graduation day pledge of N1m to LBS will be redeemed by the end of February. The class met for the first time at Radisson Blu Hotel on Wednesday, November 21, 2012 and plans to pay a charity visit to an old people’s home by Easter 2013. Other highlights of the report were career advancement news and celebrations by class members.

6 iii. EMBA 15: In his class report, the president, Mr Bolaji Akinola notified the Council of the giant strides attained by his class within the review period. Some of these include: the convening of a class strategy session at Saipem Restaurant, VI, shortly after leaving LBS, where the vision, mission and governance structure of the class were formulated. An EMBA 15 yearbook was created to keep memories alive. The class also formed the EMBA 15 Limited, registered and inaugurated the EMBA 15 Multipurpose Cooperative Society to adequately harness the investment potentials of class members while boosting the welfare credentials of the class. The class opened an account at Zenith Bank Plc where financial transactions are consummated. From monthly contributions of class members, the sum of N100, 000.00 was instituted as cash gift to any financial member who is bereaved of a parent and gifts worth N20, 000.00 for new birth celebrations. The class held a total of four meetings (one per quarter) in 2012 and the class president was privileged to ring the closing bell to end trading on the floor of the Nigerian Stock Exchange, after the class was invited there by a guest speaker at one of their meetings. A charity visit was also paid by the class to Ikoyi Prisons on Saturday, November 10, 2012. According to the membership records of LBSAA, 32% of the 65 members of EMBA 15 are financial members of the Association. The class also made a pledge of N1.3m at their convocation ceremony to the LBS Endowment Fund. A cheque of N720, 000.00 was presented by Mr Bolaji Akinola to partly redeem the pledge at the meeting.

iv. OMP 16: The class report was presented by Miss Adeola Osude, secretary of the class. Significant highlights of the report include: a total of 27 class members (representing 73% of the class) have signed on to the financial membership of the LBSAA. The class members actively participated in most LBSAA events in 2012 including four members being in the study trip delegation to Singapore and two members participating in the trip to Shanghai. A total of 15 class members also paid a visit to Strathmore Business School in Kenya where they exchanged ideas with OMP participants at the School and also networked with several business leaders in Kenya. The class has formed an investment club which is expected to come alive before the end of the first quarter of 2013. Their graduation pledge of N2m (Two Million Naira) to LBS will be redeemed by March 2013. The planned sponsorship and renovation of the Police College, Ikeja by the class had been overtaken by the federal government’s recent intervention and this has necessitated the decision by the class to consider another CSR project of equally substantial magnitude. A member of the class, Miss Rosana Forsuelo of Wave Crest College of Hospitality, Surulere, Lagos, organised a dinner to raise funds to help Nigerian youths, and class members attended the event, giving ample support to the worthy cause. The class met for the first time on Friday, November 30, 2012. To keep the class members in touch, OMP 16 launched a Blackberry and WhatsApp group and this initiative has been aiding constant communication among members. A good number of class members have

7 had cause to celebrate and colleagues are always on hand to celebrate with them and to share in the grief of those who mourn the departure of loved ones.

v. CEP 21: Engr Charles Akindayomi, the president of CEP 21 informed the Council through his report that 50% of the 20 class members are financial members of the LBSAA (made up of 9 life members and 1 annual member). The class is in the process of formulating a policy of frequent contributions from members to enhance its financial viability. The class met on Thursday, February 7, 2013, at the Victoria Island campus of Pan African University, where the members presented their graduation gift of N8m (Eight Million Naira) to the Dean of Lagos Business School. The class, in conjunction with the AMP 2012 class of Strathmore Business School, Kenya, set up a Nigeria-Kenya Business Association to create a platform for consultation and collaboration of members towards the development of business linkages between Nigeria and Kenya. A Memorandum of Understanding has been signed to that effect and the first Annual General Meeting of the Association will hold before June 2013. Many class members benefitted from the CEP programme and are restructuring their businesses to align with current best practices.

In his response, Mr Demola Aladekomo thanked the various classes for the reports and encouraged them to put in more effort to sustain the impressive initiatives for the continuous growth of their classes in particular and LBSAA in general.

6. AOB

 Mr Dapo Adelegan emphasised the need for the LBSAA to take a frontal position in the pursuit of positive change in Nigeria. He suggested that the Association should advance a leadership emergent plan in order to ensure that the best of Nigeria’s citizenry emerge to take up national responsibilities.

 Mr Rufai Ladipo asked for assistance by way of ideas to get his class active again as he had lost touch with a good number of his class members. He promised to strategise with the alumni office as he seeks to get AMP 13 back to vibrancy.

 Miss Toyin Sanwo of FTMBA 10 addressed the Governing Council, calling for financial support for her and colleagues to participate in the Hult Global Case Challenge in London holding from 1st to 3rd of March 2013. The total financial requirement for the trip, according to Miss Sanwo will be N2.1m. In their reaction, Governing Council members expressed displeasure at the idea of bringing such request to the Governing Council meeting and cautioned against a recurrence. They were of the opinion that Lagos Business School should provide the sponsorship to the MBA students from funds contributed by alumni to the School. It was observed however, that

8 the constitution of the LBSAA does not authorise the Governing Council to decide how funds that go into the account of LBS are spent. Mr Henry Onukwuba apologised to the Governing Council, noting that such a request will not be brought to any of the Council’s meeting in future. The President of LBSAA, Mr Demola Aladekomo, intervened and appealed to members to respond positively to the MBA students’ request, which he noted was a good cause, after which a message will be sent to LBS against future demands of that nature. In response to the President’s appeal, members made contributions and pledges (some pledged on behalf of their classes) and the sum of N1.5m (One Million Five Hundred Thousand Naira was raised on the spot. Consequently, a motion was moved by Mr Dapo Adelegan that the balance of funds after the contribution from the LBSAA Governing Council should be provided by LBS. The motion also called on the School to pay for such laudable programmes in future from funds contributed by alumni to the School. The motion was unanimously supported by Council members.

7. CLOSING

In his closing remarks, the President, Mr Demola Aladekomo expressed appreciation to OMP 13 for sponsoring the meeting and commended the class president; Prince Aderoju Ademoroti for hosting the meeting in his company premises. He called on Council members to patronise Astro Soccer Nigeria Limited. A motion for adjournment was moved by Mr Rufai Ladipo and seconded by Mr Frank Uyakonwu. Mrs Irene Ubah led the closing prayers, bringing the meeting to a close at 1:30pm.