Interswitch Boss Identifies Basic Elements for Business Growth

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Raheem Akingbolu

The Group Managing Director of the Interswitch Group, Mitchell Elegbe, has said although having a high intelligence quotient (IQ) is necessary, IQ alone is not enough to make a headway in life.

He was speaking to the 81 finalists of the InterswitchSPAK National Science Competition during the InterswitchSPAK Masterclass 1.0, held in Lagos recently.

Speaking on the topic ‘Emotional Intelligence and Leadership Responsibility of Youths,’ Elegbe stated that emotional intelligence has become a necessity in today’s world, explaining that many people are getting more interested in the ‘softer’ skills.

He said: “Emotional Quotient or Emotional Intelligence is very necessary in today’s world. What this means is that your high scores and academic brilliance might have gotten you this far, but you need a lot more than that to be successful in life.

“The reason is that Nigeria continues to churn out highly intelligent people every day, so the only thing that will stand you out in life is that extra quality. This is where emotional strength, which includes attitude, good character and so on, come into play.”

He admonished the students not to set expectations that are too high for themselves and others, explaining that when people fail to meet set expectations, dissatisfaction was inevitable.

Elegbe challenged the students to break out of their cocoons and strive to be the best in their chosen careers, noting that challenges create opportunities for growth, as many innovators in the world today identified problems in the society and then proffered solutions to them.

He said: “If you come from a poor home, you are in a better position to see problems that need to be solved because those challenges are always around you. So, my advice is just be focused and be the best you can be.”

Also speaking at the event, the CEO of Stanbic IBTC Holdings Plc, Yinka Sanni, who spoke on the topic: ‘Social Innovation – The Power of Transformative Ideas’, noted that most of the wealthiest Nigerians made most of their money in the country.

He said: “I hope you students will accept this challenge to generate ideas that will help the country solve real problems to improve the lives of your country men and women.

“This country has real problems and social innovation starts with you seeing a specific problem and finding a solution to it.”

Another speaker, MD Endeavor Nigeria, Eloho Omame, who spoke on ‘Entrepreneurship – A Tool to creating Impact in Our Society,’ urged the students to start businesses that would grow and have high impact by providing employment for many people, as this was the only way to grow the economy.

Following the Innovation Challenge was the TV quiz competition around STEM subjects for home viewers, targeted at students aged between 14 and 17 years in SS 2. It aimed to encourage and guide the students on career paths that will help them achieve full optimisation of their potentials and dreams to become inventors or entrepreneurs.

The winner of the TV Quiz competition got a N7.5 million scholarship over five years in a tertiary institution. The second prize was N4.5 million in scholarship funding over three years of tertiary education while the third prize is N1.5 million scholarship for one year.