“My Wife Is The Executive Director Of Slot, She’s The Reason The Company Is Successful “-Slot CEO, Nnamdi Ezeigbo

The Chief Executive Officer of Slot Systems Limited, Nnamdi Ezeigbo, speaks to OGHENOVO EGODO-MICHAEL about his career, lifestyle and other issues

What inspired you to start Slot Limited?

My entrance into the business world was borne out of necessity. I did not plan to start a business. I was just like any young man who wanted to go to the university and study engineering to get a good job, especially in an oil company. I studied Electrical Engineering, but unfortunately, I discovered that the jobs were too few to go round. It dawned on me that I needed to do something on my own. While I was waiting to start something, I was really confused because I needed to align my passion with market opportunities and I needed to do something to create value as that was the only way I could survive. So, my entrance into the business world was based on survival instinct. Since I studied Electrical Engineering, it was natural to find something within my area of study. In the late 90s, computer engineering was very popular because computers were gaining momentum. There were also a few computer training schools springing up thus, there was a need for computer engineers, and I thought that was something I could fit in. However, I needed to acquire basic skills to be able to fit in. So, I decided to work with a friend who at the time had a computer engineering outfit. I worked with him as an apprentice for six months, just to hone my skills and acquire basic computer engineering knowledge. That was how I started. SLOT was primarily a computer engineering outfit and not a trading company. I started as a computer engineer, maintaining computers for individuals.

What were some of the biggest challenges you faced in the early days of the company?

From the beginning, one of our primary focuses was on training our staff to effectively communicate and sell our products. We emphasised the importance of our core values—integrity, honesty and transparency—as these were essential for building customer trust. We understood that to promote quality products and services, we needed to have quality people on our team.

One of the significant challenges we encountered was convincing Nigerian consumers to trust our products and services. Many customers would walk into our store questioning whether our devices were original. Over time, we worked diligently to address those concerns by consistently demonstrating our commitment to quality and aligning our staff with our core values.

By focusing on selling not just our products but also our services and the integrity of our team, we gradually earned the trust of customers.

Another challenge we had was managing people and business operations. Imagine an engineer doing business without any business knowledge. The first few years of business were chaotic because we had friends and families working in the organisation. I struggled as an engineer who had no business experience, no organisational or leadership skills.

Eventually, we hired a consulting company. They helped us to set up our business system, and hire the right people to fit in the right places.

Beyond training employees of the company, you also organise training sessions online. What is the drive behind this?

As an entrepreneur, one of the responsibilities I have is to help young people learn from my experiences, particularly mistakes. I believe everyone should get to a stage where they give back to society. I have been able to acquire knowledge and experience over the years because of my education and exposure running Slot. So, I think I’ll be doing a lot of good service impacting and training young entrepreneurs from time to time. I also teach at Lagos Business School. On my YouTube channel, every week, I post stuff that I think will be relevant to young people. I think entrepreneurs should always get to a point where they will not just depend on business to draw inspiration, they can also get inspired by training other people, and that is what I’m doing. I have written a book on entrepreneurship called, Entrepreneurship the Slot Way, and it’s also a means of giving back. I am also writing my second book that will be unveiled soon. Beyond doing business, there is also a need to inspire young entrepreneurs and guide them to success.

How did you identify the gap in the Nigerian market for affordable mobile phones?

One of the things I look out for is how to creatively solve problems for society. We have been able to always meet the needs of our customers, particularly in terms of pricing. One of the things we’ve done was to introduce the first dual-sim phone in Nigeria in 2006. The drive for us then was to introduce an affordable phone that would have a dual-sim, to meet the needs of people who couldn’t afford expensive phones.

We solved that problem by partnering with a Chinese company and then setting Tecno up in Nigeria. We also ensured that the brand became successful to the point where today Tecno is not just a Nigerian company but a global one. So, it’s about solving societal problems, meeting the needs of the consumers, and growing sustainably.

How do you approach top brands for collaboration?

In business, when one has the right structure, the right people and good values, one attracts partnership. That’s how it works. Strategic partners are looking for local businesses to partner with but they are looking for businesses that have developed a structure that they can relate with. They are looking for local businesses they can trust. That means there’s need for credibility and trust. They are looking for local businesses that have the right people they can relate with, and that’s what we’ve been able to do.

What are some innovations in the industry that your company has championed?

There are several things we’ve been able to introduce over the years. First, we were able to introduce a tracking software that enables us to track our devices. If one buys a phone from us, we don’t need receipts for us to identify that the phone was purchased from us. We can simply identify if a device was purchased from us with the tracking software. We also introduced the ‘Buy Now, Pay Later’. So, customers can make a purchase and pay over six months or one year. We were also the first to introduce the Trade In system where one can trade in an old phone for a new one with an additional discounted fee. We’ve also been able to introduce and commission the first mobile phone academy. Today we have Slot Academy, where over 3,500 young people have graduated. Those who pass through our academy are the ones repairing phones, and working in organisations as phone engineers and technicians.

We have also expanded the organised retail market to the point where Nigerians now have trust, and can actually buy from locally organised retail stores contrary to buying primarily at network telecom stores or buying from Dubai, United Kingdom or the United States.

Can you share with us some experiences with foreign stakeholders that have impacted your business strategy?

The UK, Irish, European and Chinese markets actually have a great influence on our style of business. We benchmark against what happens in the international market. A company in focus here is Carphone Warehouse. Carphone Warehouse runs the kind of business model that we have. They run an open market, open store and they are also a tech retail company. They sell unlocked devices. We identify with their business model and learn from them. We’ve also learnt from the Chinese market. As you can see today, there are a lot of services that we’ve introduced into the industry. We are in tune with what happens in the international market. We are very conscious of that, and we are learning and growing with it.

What do you think are the biggest challenges faced by the technology industry in Africa?

Technology is still new in Africa and I’m happy it is really impacting on the way we live and work. The major cause of technology limitation in Nigeria is infrastructure. We need a lot of electricity, good Internet connectivity, and that’s a big challenge in Africa. We cannot also overlook the cost of technology. Technology is expensive to acquire and when one begins to look at the income per person in Nigeria, one would understand why businesses and individuals struggle to acquire the right technology. Lack of skilled people is also a challenge. The japa syndrome is part of the challenges associated with lack of skilled people. Education and training is a challenge as well, and it’s one of the areas we should work on.

Education is also a way of reducing the challenges associated with technology. We continue to encourage training and development, organisations, schools, governments, establishments, government agencies and parastatals.

Government can encourage partnerships, such as private-public partnership which can help to reduce all the challenges associated with technology. The issue of cyber security is a serious challenge too.

What is the best advice you can give to anyone looking to buy a new gadget?

Over the years, owing gadgets have become a social status. So, people want to own devices that meet their social standings. So, it’s more of a social symbol. However, people should be concerned about the values, capabilities and the features of the device or the gadgets. You should know what you want, what you expect, especially for those who work. You should look out for the features, capabilities, and be sure that it aligns with your needs. If you don’t know what you want, you can get such professional advice from any of our salespeople or from our online stores.

Theft by employees is a major issue faced by businesses like yours. How are you able to manage it?

This is a very sensitive question but in every business, there would be a few bad eggs. However, what we’ve done as a business is to have the right structure and right people in place. We are blessed to have good members of staff. Once you have the right structure in place, as well as the right accounting and auditing system that creates a watertight process, you are obviously going to be more efficient, and the system will prevent anyone from stealing. However, there is a need to always hire people from the right agency, and also run background checks on them. Then if they have guarantors, they will know that they have something at stake, so they will always act right.

Who or what inspires you to keep pushing forward in your career?

I am inspired by the fact that every day I’m able to solve problems and touch lives through Slot Foundation. I am inspired by the value I create, the lives I’ve touched, the quality products we sell, and the feedback I get from our customers. Our foundation is about helping young people acquire vocational skills in computer engineering and phone repair. The foundation uses Slot Academy as a vehicle to train young people between the age of 18 and 35. Over 3,500 people have benefited from the Slot Foundation. We are also in partnership with some organisations and states, including Lagos, Edo and Abia. The idea is to help young people acquire vocational skills to become employable. We are not philanthropists so, ours is not about giving money, we believe in empowering people. We believe in helping them to acquire vocational skills that will make them relevant to the world.

You seem very interested in upholding your roots and culture. What advice do you have for Nigerians to help them stay in tune with their roots?

We should be very authentic and stay in tune with our culture. It is very interesting when we understand who we are and how our culture has evolved. We should be conscious of who we are, and I worry about why we have moved far away from our culture. I am puzzled when I see Nigerians bearing English first names and surnames. I don’t know how we got to that point. I think we should stay very close to our culture, because there is nothing wrong with it. A blend of our culture and a little bit of foreign cultures is fine. But, there are some things we should not take out of our lives, such as our names, languages and fashion. I have four beautiful kids and they don’t have English names. I also don’t have an English name. It goes a long way in reminding me of who I am.

At almost 60, how do you keep yourself active and fit?

First, I thank God. I feel blessed. But also, I believe one has to stay active. The body is not built to sit in one place and be inactive. I believe in engaging in activities. I play long tennis and a little bit of golf. I also exercise. I go to the gym once in a while, and I do all things to keep my mental state and active nature.

I am also conscious of self-care and concerned about my state of mind. Self care helps me feel better.

What kind of relationship do you share with your wife and children?

My wife and I have grown as individuals, and together as a couple. We have a wonderful relationship and interestingly, my relationship with my wife goes beyond family. She is also a formidable partner. She is the Executive Director of Slot. She has really contributed to the growth and stability of the company in the past 26 years. Our relationship is as old as the company. We will celebrate our 27th wedding anniversary by December. Our relationship has evolved over the years and I can say she is one of the reasons the company is successful. Her contribution and support cannot be understated. When one goes through the stress of doing business, one needs a family that can always make one feel better and ready to face challenges. So I see my family as my rock and a safe place.

How did you meet your wife?

We actually met on our way to work. You know how it is when you know what you want, and your spirits just clicks in agreement. That was what happened to me. I was praying for my wife for over six months. I was very intentional about it. I remember my friends were making fun of me. They kept asking me if I had met her. When we met, we started a conversation and I was really convinced that she was the one. My spirit aligned with her spirit. In less than three months, we got engaged and married.

Are any of your children following after you career wise?

I have a wonderful relationship with my children and I allow them to pursue their passion and areas of interest. They are busy doing their own things right now. Maybe in the future they will find the need to be part of the business. They are very confident and well trained. They all have professions they are pursuing. But, they are all aligned with what we are doing here at Slot. They are tech-inclined. One is pursuing a career in finance, and another is pursuing a career in law.

What kind of childhood did you have?

I had a very humble background growing up in a family of nine children where I happened to be the first. My parents worked with a company in Sapele, Delta State. I grew up with friends from different tribes. I learnt basic discipline and values, such as hard work, respect and honesty. I came to Lagos for university education when I was about 18 years old. At the time, coming to Lagos was like going to London for me.

Take us through your educational background.

In terms of educational background, I have quite a long list. I obtained an HND in Electrical Engineering from the Yaba College of Technology. Then, I proceeded to the Lagos State University to acquire a degree in Computer Engineering. I also attended Ladoke Akintola University where I acquired a Master’s degree in Information Technology. I also attended Lagos Business School for my MBA. I attended Harvard Business School as well. So, I am a businessman with basic street sense and book knowledge.

How would you describe your fashion style?

My personal style is a blend of elegance, smartness and simplicity. I like to dress professionally and a little bit stylish. I don’t go overboard. I like the classic European attire and contemporary African style.

What kind of music do you enjoy?

Music, they say, has no boundary. So there’s no boundary when it comes to music for me. I love good music, particularly contemporary Nigerian music. I also love to listen to gospel music. It has a way of inspiring me and lifting my spirit. On my playlist, I have Frank Edwards, Nathaniel Bassey, Davido, Wizkid, Tiwa Savage, Burna Boy, Flavour, Phyno and Yemi Alade, among others. I enjoy contemporary music.

Source: Punch

Email: elora.akpotosevbe@yahoo.com