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Ruby Jubilee: Interview With Michael Orimobi, Global Chairman, Tokunbo Orimobi Legal Group



Michael Orimobi, is the Global Chairman and Managing Partner of the Nigerian office of Tokunbo Orimobi Legal Group, a global law firm listed with the International Financial Law Review (IFLR1000) as one of the world’s leading financial law firms and has the status of a “Recommended Firm” with the IFLR1000 with presence in Africa, Europe and America. In this e-Interview, Michael speaks with Alaba Ayinuola, on the firm’s 40th Anniversary, running a global law firm, accomplishments, diversity and inclusion, predictions for 2019 amongst others . Excerpts.


“I am extremely grateful that all our plans to be Nigeria’s first international legal practice are unfolding.”


Q: Tell us about the history and heritage of Tokunbo Orimobi Legal Group, and how the firm has evolved? 

A: Tokunbo Orimobi was established on January 12, 1979. The firm will be 40 years this week. From a small boutique law firm in Mainland Lagos founded by my late father – Mr. Tokunbo Orimobi – in 1979, the firm has grown into a full service commercial law firm with 8 offices in 5 countries today. Our total staff strength as at today is circa 50 persons globally.


Q: Few days from now, your firm will be celebrating her 40th Anniversary. How do you feel and what thoughts and emotions come to mind? 

A: It is not very often you see any business survive four decades. God has been very faithful and we thank God for His mercies and grace. It has been an interesting and exciting journey for the firm. We had a vision and we stuck to that vision. I am extremely grateful that all our plans to be Nigeria’s first international legal practice are unfolding. I am happy, elated, ecstatic and proud of what we have achieved as a law firm.


Q: With offices in Africa, Europe, and America, what are some of the challenges in running a global business, and how are you leveraging opportunities? 

A: Growth and expansion are very good and exciting concepts but they need to be managed wisely. Ambition coupled with Wisdom leads to Sustainable Growth and Development. If one of these traits is present and the other absent, then you might have a problem. One of the major challenges of running a global business is that you have liabilities in multiple currencies thus; the movements in currencies become quite important to your cash flow. Also, having a global business means you are having to deal with the laws, rules and regulations of different jurisdictions. With offices in five countries, we are gradually becoming a global one-stop shop for bespoke legal advisory services. Clients have started engaging us for multi-jurisdictional retainers and for solutions to their legal problems in multiple countries.


Q: What are the biggest accomplishments since inception in 1979?

A: We became Nigeria’s first international legal practice with offices in Abuja, Ibadan, Lagos, London, New York, Port Harcourt, Port Louis and Pretoria. We grew in size with circa 30 people in Nigeria and circa 50 people globally. We have made a profit as a business every year since inception with a growth of at least 10% in gross income annually. Quality clientele has increased over the last few years with over 200 active clients globally.


Q: Where does your firm stand regarding diversity and inclusion, specifically female partners? 

A: We are committed as a business to diversity, equality and parity. As at today, I believe we have more female employees and most of our heads of departments are female. They are very committed and less distracted with the vicissitudes of life than their male counterparts. We have had a female partner in the firm in the past and currently have a female partner in our Mauritius Office. I look forward to having more female partners in our offices globally and even as members of the executives in our Global Executive Committee.


Q: What is the future for your firm and in what ways are you expecting growth? 

A: We are constantly expanding and growing and we look forward to having 10 offices by the end of 2019. Our plan is to be a global one-stop shop for our clients. When you come to us, you have access to our multiple offices, our partners and other fee earners globally. “Global” is the new currency of law practice and we are happy to be the mastermind of this new style of legal practice in Nigeria. We have also set up a foundation with which we would run our various CSR projects. We have benefited a lot from the society and we are definitely giving back in full scale. I intend to transition from the law firm and run the foundation full time in a few years from now.


Q: Tell us your leadership style and the best piece of leadership advice you have received? 

A: Tokunbo Orimobi is a knowledge bank. You come in, you learn and you are free to use the knowledge in whatever manner you want to use it. I love to train my staff, expand their legal knowledge and make them complete entrepreneurs. Our lawyers get exposed to administrative matters like business development, branding, budget, finance etc. This is the way I run the business. If you are open minded, you come in as a greenhorn and if you decide to leave the firm, you leave as an full-fledged entrepreneur. We might not be the wealthiest law firm in town, but we are certainly one of the smartest business lawyers in town.

Q: How do you feel as an African Entrepreneur?

A: Exciting times ahead for Africa. Africa is already becoming the toast of global investors. Africa is a territory of high risks and high rewards. I love taking calculated risks hence my penchant for making Africa the launchpad for all my businesses. Over the years, I have transitioned from being a commercial lawyer to being an investor with interests in various sectors of the African economy – banking, financial services, manufacturing, agriculture, commodities etc. I also sit on the Board of a decent number of African and Global businesses. This is why I love being a lawyer, it is a veritable spring board to do absolutely anything legal and beneficial. I started my career as an investment banker and this has helped a lot in transitioning me into an emerging face of Corporate Nigeria.


Q: What are your predictions for 2019?

A: As a capital markets and finance lawyer in Nigeria, I will focus my answer on the fiscal and economic matters.

Fiscal policy should loosen up in Q1 2019 due to scheduled elections in Nigeria; possibly another round of devaluation also in 2019. Due to increased spending from elections, there would be inflation which would increase the yield on bonds and thus bond prices would fall.

Fast-Moving Consumer Goods (FMCG) and Services sectors should drive growth in 2019 as we expect some increase in disposable income and consumer spending.

Most likely, investors would be in a holding pattern trying to see what happens with the scheduled elections in Nigeria. We are hoping that the government focuses on the economy this time around rather than on only corruption. We have a massive budget we need to fund and it is time to think out of the box.

For investors with “long-term money” this is the time to raid the equities market. Most stocks are trading below book value and stock fundamentals remain resilient.

Visit Tokunbo Orimobi Legal Group 

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Possibilities of Making Profits On Crypto, Risk-Free



Over the course of the last decade, cryptocurrencies have experienced unprecedented growth and garnered a lot of interest across a range of demographics from all over the world. Interest in digital currencies is spiking globally and search terms such as “how to buy Bitcoin” have seen an uptick in interest according to Google trends. This is just one of many indicators that suggests a notable influx of people are entering the blockchain space and looking to explore the crypto ecosystem.

While the market cap of digital assets has varied extremely with price fluctuations, it, however, grew from about US$10 billion in 2013 to about $237 billion in 2019. Also, in the last 5 years, the increase in Bitcoin (BTC) private accounts and trades has averaged about sixty percent every year. Currently, the market cap for digital currencies is just above $2 trillion.

Even though many people have made early gains in digital assets, the cryptocurrency space is still in the early phase of development. The Internet for example, was created in 1969 and the “worldwide web” was designed in 1989 and subsequently the first web browser in 1990. Compared to those revolutionary technologies which massively transformed the communications landscape, blockchain technology is nascent and cryptocurrencies have only been in use for only a decade.

Crypto goes mainstream

Social media has exposed a lot of people to the crypto industry. The mass media is quick to broadcast the movements in bitcoin prices, leading to FOMO and FUD or the hysteria that sometimes characterizes crypto markets. Overall the ever growing coverage has done more to spur further development of new innovations within the space.

The price increase of cryptocurrency will probably be boosted by increased cryptocurrency adoption. While many institutions have started to invest and buy Bitcoin, there are still a lot of firms waiting in line to invest and buy Bitcoin. The average volume of digital assets transacted on any given day is just one percent of the FX trade. Regardless of cryptocurrencies increasing to more than $2 trillion in market cap according to Coinmarketcap, digital assets are still a tiny fraction of global equity trade ($34.8 trillion in 2020) and worldwide debt trade (over 281 trillion in 2020) according to Bloomberg.

With more institutional adoption of Bitcoin and other digital assets, traders and investors are presented with more chances to make money in the digital asset space.

How to make money with crypto

There are several ways of making profits with digital assets. Given that digital assets are basically volatile, many digital assets involve a great level of risk while some need greater expertise. It is important to have prerequisite knowledge about digital assets before you buy bitcoin.

One of the ways of making profits with cryptocurrency is through investing. This is generally for long-term purposes. It requires you to buy Bitcoin or other cryptocurrencies and hold them for a chosen period of time. This can be done via different traditional crypto exchanges or P2P platforms like Remitano. Digital assets are usually well-suited to the investing practice of buying low, holding and then selling high. Cryptocurrencies are highly volatile in shorter timeframes, however, they typically and have historically offered a much more lucrative upside over long periods compared to traditional investment vehicles.

Studies have also shown that most BTC profits are realized in the ten best trading periods of the year.

Due to cryptocurrencies being naturally volatile, investing for a long period is one of the ways of making profits with cryptocurrency. Just like with any type of investing, risks have to be thoroughly considered and expectations of rewards have to be managed well.

Another way of making profits with cryptocurrency is to trade digital assets. The most notable difference between investing and trading is the general time frames between entering and exiting positions. Investing is for a long period, while trading is basically to leverage opportunities over a short period. To trade digital assets successfully, it is important to know the basic fundamentals and have the capability to conduct technical analysis in order to avoid making costly mistakes.

Making profits via trading cryptocurrencies is more about knowing the price trend and pattern and utilizing it to forecast future value, many times over a short period. Find out the 20 best platforms to buy Bitcoin and other digital currencies in South Africa.

What is the possibility of making profits on crypto, risk-free?

Trading digital assets sounds relatively easy, however, due to the highly volatile nature of crypto assets, it involves a lot of risks. One of the ways to make profits on cryptocurrency with relatively low risk is by doing cryptocurrency arbitrage. This trading method exploits price and demand gaps between different digital asset marketplaces. But, the trades have to be done almost instantaneously to realize gains.

Arbitrage Trading

Crypto arbitrage involves exploiting price differences on different crypto exchanges for your benefit. This method is effective in places where bitcoin price varies from one exchange to the other like in South Africa and Nigeria. The price differences could be a result of several factors.

Arbitrage trading involves buying bitcoin or other digital assets from one exchange and selling it on other exchanges at a higher price. Selling the asset after the purchase must be done relatively quickly to avoid price movements narrowing margins or leading to loss at times.

Exploiting the price difference using the cryptocurrency arbitrage technique requires a cryptocurrency market that has price discrepancies depending on the supply and demand in the different markets.

Remitano Invest

Another way to make money risk-free is with Remitano Invest. Remitano invest allows you to buy and invest in cryptocurrencies without putting your capital at risk.


With the Stop Loss and Take Profit features, your crypto asset will be liquidated to USDT (a stable coin) to prevent loss and maximize your profit. You simply set the auto sell price for the Stop Loss and Take Profit. When the asset you have invested hits your Take Profit price, Remitano Invest converts it into USDT to secure your profit. However, if the asset’s price falls to your Stop Loss price, the system will convert it into USDT to help you secure your capital and prevent further loss.

Risks and benefits are an intrinsic part of most money markets and they go hand in hand. Risks cannot be eradicated but they can be managed. Some risks can be managed by utilizing effective risk management practices. Personal risks like wallet hacks, coin theft, and loss of access to funds can be offset by making sure you implement good security practices.

Article & Image source: Heath Muchena



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How to Make Money Online by Buying and Selling Bitcoin



Bitcoin is a cryptocurrency that doesn’t require much introduction. It is the leading digital asset in terms of market cap and a top trend that has been around for a while. With increased popularity and adoption comes the debate around the best way to make money with Bitcoin. There are several ways to make money with the asset, it all depends on your investing approach or trading strategy. Buying and selling bitcoin or called bitcoin trading is one of the ways you can make money with the digital asset. But if you want to buy bitcoin and sell with the aim of making a profit, there are certain evaluations you have to make.

Bitcoin Trading

Trading simply means buying and selling, mostly with the aim of making profits/money. So bitcoin trading means buying bitcoin at a reasonably low price and selling it at a much higher price. Bitcoin trading depends greatly on how effective you are at gathering intelligence, analysing the market, and taking calculated risks. Having a good risk mitigation strategy and a profit taking plan is also crucial. Below are some of the strategies traders implement when crypto trading.

Day Trading

Day trading entails taking trades within short timeframes. The method involves a careful reading of the market, spotting the small opportunities to make profit, and making the most of those opportunities by taking decisive action. So basically, you buy bitcoin at a low price, wait for a little positive swing in price and then you sell. You are taking advantage of the daily volatility in the price of BTC and those price market movements. Although the gains could seem relatively small especially when trading with modest capital, over time those smaller profits accumulate into quite significant gains. When implementing the day trading strategy, you can open and close several trades daily. Traders implementing this strategy spend a lot of time closely monitoring their positions. Some experts believe that day trading is the most effective way to make profits from bitcoin trading since the market is highly volatile.

Swing Trading

Swing trading mainly involves a trader buying an asset at a low price, then waiting for that asset’s price to appreciate before selling it off at a higher price. In essence, this type of trading involves taking advantage of swings in crypto asset prices. Swing trading may require waiting a long time compared to day trading, but not as long as when you are implementing the HODL strategy. Basically, you buy BTC at a low price, wait a while for a positive price swing, and close your trade at a higher price. Swing traders don’t spend much time looking at their screen as they can wait for weeks or sometimes months before closing a position.


This simply means taking advantage of varying bitcoin prices on different digital currency exchanges rather than within the same exchange. This method is effective in places where bitcoin price varies from one exchange to the other like South Africa. So you buy bitcoin from an exchange at a low price and sell on another exchange at a higher price.

Buying and HODLing

HODL is just a play on the word HOLD that has become a common word within the crypto community. HODLing simply means buying bitcoin and then holding with an expectation that the price will go higher in the future. Although the concept of the strategy might sound easy, it nonetheless requires patience and emotional stability. Basically, there are two factors that make trading quite difficult, the first is FOMO which is the fear of missing out, and FUD – fear, uncertainty and doubt. Traders who cannot keep their composure when markets are volatile typically end up buying or selling as a result of either FOMO or FUD which means they buy above the market price or sell at a loss.

In conclusion, bitcoin trading can yield amazing results when done correctly, however, it can also be risky when you don’t have an idea of how to properly make your profit out of it. The rule of thumb is always to only invest or trade what you are prepared to risk losing.

Bitcoin can be a highly volatile asset, and its price actions can be unpredictable at times. While its price movements can be exceptionally high and sometimes low, no one can time the market for certain as there are always many forces and factors that determine the trajectory of market performance.

That’s one reason why risking large amounts of money on a single trade is never recommended. Even if you think you’ve done enough research, making extremely risky moves such as leveraged trading when you don’t have the know-how to properly risk manage could result in massive losses which is never a good idea.

It is important to maintain your composure and to take a level-headed approach to trading. Knowing the fundamentals and understanding that sometimes a cryptocurrency can drop in price sharply but also rebound massively can help you avoid panic selling at a loss. However, also holding on to an asset that continues to poorly perform can sometimes be even worse. It’s ultimately about following through on your chosen trading strategy and adapting as you learn new information in order that your decision making and action taking are always aligned with your objectives. Find out more about 20 of the best platforms to sell or buy Bitcoin in South Africa.

Article & Image source: Heath Muchena 




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Press Release

Lami, Kenya-based Insurtech secures $1.8 million to accelerate digital insurance in Africa



Lami team and press release (Source: Eva Barasa/Lami Tech/medium)

Lami Technologies, a Kenyan insurance technology (insurtech) company that aims to democratize insurance products and services for low-income Kenyans, announced today it had raised $1.8 million in seed funding.

The round was led by Accion Venture Lab’s seed-stage investment initiative that provides capital and extensive support to innovative fintech startups that improve the reach, quality, and affordability of financial services for the underserved.

Founded by Jihan Abass in 2018, Lami is a digital insurance platform that enables partner businesses — including banks, tech companies, and other entities to easily and seamlessly offer digital insurance products to their users via its API. Lami can also be used by partner businesses to manage their own insurance needs. Lami connects partner organizations, such as the e-commerce platform Jumia, with underwriters and allows them to offer a superior customer journey. Through its API, users can get a quotation for motor, medical, or other tailored insurance products in seconds, then customize the benefits and adjust the premium to suit their needs, get their policy documents instantly, and claims are paid in record time.

Lami’s services are enabled by its flexible insurance rating engine and direct integration with several parties and insurance companies. Lami co-designs innovative products with its underwriting partners to enable businesses to offer unique insurance products to their underlying customer base, with flexible options that meet their needs and cash flows, such as monthly medical policies for startup employees.

Jihan Abass, CEO & Founder of Lami (Source: Eva Barasa/Lami Tech/medium)

Jihan Abass, CEO, Lami, said: “This funding will allow us to invest in hiring more people, improving our technology, and growing our presence across Africa as we can continue to address the persistent insurance gap. At Lami, our vision is to help improve the financial resilience of millions by making insurance products more accessible and affordable for underserved populations. By enabling our business partners to offer customized insurance solutions, we are helping them provide more value to their customers while enabling large volumes of users to access insurance, often for the first time.”

Africa’s insurance market currently stands at a 3 percent penetration rate, except for South Africa, and is facing modernization and innovation challenges. Most insurance providers on the continent fail to offer flexible, affordable and tailored insurance coverage to provide a safety net for the African consumer. Low insurance uptake is partly due to the traditional distribution and administration of policies, mainly relying on brick-and-mortar channels where policies are sold and processed manually. This results in a longer processing cycle, poor customer satisfaction, and higher distribution costs.

Lami’s digital insurance platform leverages cloud computing, automation, and third-party service providers such as emergency and valuation, or identity and asset verification databases, to offer a comprehensive ecosystem for the businesses they partner with to develop, distribute and manage highly streamlined and competitive insurance products that are designed to meet their customers’ needs.

Since its inception, the insurtech startup has sold more than 5,000 policies and has partnered with more than 25 active underwriters, including Britam, Pioneer, and Madison Insurance, distributing more than 30 products available including medical, motor, employee benefits, and device insurance. As an innovator in the digital insurance space, Lami aims to continue diversifying its business by looking for new partners and building on its core technology.

Michael Schlein, President and CEO, Accion Venture Lab, said: “Ninety-seven percent of Africans lack access to insurance — a financial safety net that can help them build resilience against economic shocks. Lami helps address this need for consumers across Africa through its innovative approach that leverages technology and partnerships to help any business develop and sell insurance.”

“At Accion Venture Lab, we’re excited by how Lami is using technology to create a pathway for customers to purchase insurance that is specific to their needs. By embedding customized insurance within businesses that customers know and trust, Lami is making insurance accessible for underserved populations in Africa and enabling them to build financial resilience. “said Ashley Lewis, Africa Director, Accion Venture Lab

This investment highlights the strong commitment of all organizations to ensuring that financial services are made accessible and affordable for the underserved.


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