abduljaleel128:
Pls o...is it online...and pls what should we be expecting

If you are shortlisted, you will be invited for a written test.

Familiarize yourself with GMAT questions, Skye bank products and recent development in banking industry and the economy.

Know your basic arithmetic.

EngrDecenti:
These are normal businesses already crowding the Nigerian environment na. Well, at list you gave out some tips to help them run it effectively.

op, please properly format your articles before posting them here o!

Meanwhile, learn how to setup a profitable subscription-based website here https://www.Ghavoch.com/setup or you let http://www.laticodes.com do it for you.

OK, then make way for those who do not know it already... Thank you.

Amazing how you completely ignored the @bedfordng who mentioned a major issue with your service that is making people call it a scam including the op as the op mentioned the same thing.

You ignored the whole thing and this is the response you can give? You expect the op to publish his real name or website name on public forum? Why can't you check your live chat logs for the customers who have been chatting regarding the issues the op raised and also the support tickets open and resolve them.

Not trying to divert the thing.

You have said it all brotherly..

7 Profitable Business Ideas in Nigeria for young Entrepreneurs. Nigeria is a multiple business opportunity nation in West Africa, with a population figure of about 180 million people. This population has continued to attract foreign investors despite harsh business realities that abound in the area of erratic power supply and high level of insecurity of lives and properties.

It’s worthy of note and emulation that Nigerian youths have not been deterred from pursuing viable and profitable business ideas across all divides in the country.

In this guide, I will disclose to you 7 profitable business ideas you can venture in Nigeria while making so much money within shortest period of time.

1.Home food Item Delivery- The nature of life in present day Nigeria had continued to deprive households the immediate comfort of food items from the surrounding markets. Why is it so? Mothers or the supposed house keeper most often do not have time to visit the markets to buy household materials ranging from food items, provisions etc. This is largely due to the nature of their jobs.

8 to 5 is the rat race and a reality we have come to live with as such various departments in our homes have suffered untold neglect with reckless abandon.

Home food items delivery is one of the emerging business ideas you need to key into very fast giving to its lucrative nature. You will make money supplying these food items to homes in your neighborhoods and beyond.

Where and how to get your customers:

Your customers are in business offices in town, go to these offices and introduce yourself and your business to them. You can print business flyers and cards, hand them to your prospective customers and sound convincing beyond doubt that you can deliver. Collect their lists of items, go to the market and buy these goods. Do your constructive market surveys to know where you will have best and cheapest prices with relative demand quality.

Supply the goods for a commission, you may have to charge say N300 for a start. By the time you are able to win 20 customers in a day you can do the math yourself N300x20= 6,000 for a day. Say you spent N1000 on transportation you will still pocket N5000. There are few businesses that make such amount as profit in a day.N5000x30=N150,000 that’s for your profit for one month.

Continue growing your customer base across divides while maintaining a high integrity and honesty.

2. Home Laundry- This is one of the business ideas that’s gradually taking over the scene, it’s quite different from the normal Dry Cleaning services in the sense that you only wash clothes and deliver without ironing, if a customer wants you to do the ironing it goes for a different price. A washing machine is pertinent, you can do home deliveries after washing.

This opportunity thrives because households are continually growing lazy and highly occupied with other domestic chores and will rather decide to send their children clothes and theirs for you to wash and get paid. You do the job and give them the bills.

Where to get your customers:

Move around homes and advertise your services with the word of the mouth, you must dress neatly and presentable as a custodian of what you preach to offer. Print flyers and business cards so your customers can easily contact you when they need your services. You must deliver these clothes promptly to maintain the business relationship.

You may need to visit the nearest dry cleaning services store around you to learn the art of stain removal and chemical mixtures for different samples of fabrics. You must iron professionally if you must offer the services too.

Get an office and offer a professional dry cleaning services when your customer base increases beyond bounds.

3. Run a crèche and daycare service from your home- This is where toddlers and kids are being kept in the absence of their parents. Like I have said earlier, this business ideas is owed to lifestyle in Nigeria which had pressured and given room for this crèche and daycare business to thrive. Working class mothers spent just three months with these toddlers at home after that work begins and are not allowed to bring their kids with them in these offices for optimal concentration, that’s corporate job for you.

This is one of the lucrative business ideas I implore women and mothers who are housewives to take advantage of, you may convert a section of your flat to offer this services till may be the business grows that your apartment cannot accommodate it anymore.

Requirements:

There’s no legal requirement for daycare and crèche services in Nigeria yet, get sizable neat student matrasses, the house should be well ventilated. You will have to invest a fortune in toys and wall graphic papers on children education. The environment should always be neat and void of dirt for health issues. A steady electricity supply is ideal for high profile customers.

In such standards, you will have to charge N8000/monthly for a baby and they will be glad to pay especially if their kids improves physically while staying with you as a result of intensive care and adequate feeding. Say you have 20 babies to take care of:

20xN8000=N160,000 for the month. The population could increase far beyond that.

Where to get your customers:

Visit corporate offices in town and neighborhoods, market your services with flyers, business cards and word of the mouth. Your first set of customers will do the advertisement for you if you had a good working relationship with them, that’s called referral.

4. Open a bet shop/Agent- You may say why bet shop? No matter your principles and what you believe in, it remains the fact that running a bet shop is one of the greatest business ideas in the contemporary Nigerian society.

You can become an agent for Bet9ja, Nairabet, merrybet etc, and make huge returns at the end of every given week in Nigeria. Businesses are collapsing owing to government unstable and poor policies, people are therefore finding solace in trying out their lucks on bets. I know a bet shop that earns a commission of N100,000 a week.

Requirements:

1 . Get a very good site for your shop where football fans dominate, especially where there are football viewing centers. An area with high concentration of people may not really categorize a good site for this business if there are no target customers.

Bet9ja will not approve an agent shop less than ten minutes of walk from another. The major challenge with this business is siting, if you are opportune to get a very good one congratulations on your success in advance.

2. Get two fairly used laptops and two monitors for virtual and game selections for a start. You may need to buy all networks SIM cards in case others fail for internet services.

3. Build the cashier point away from the customer areas. You may take a look to a nearest bet shop to see samples for yourself.

4. Get one plasma Television on a wall in a strategic point and a cable subscription.

5. On approval, you will need at least a starting capital of N50,000 to settle winnings.

6. Generator set for 24hrs power supply, 2900 or 3000 is ideal. Avoid the I pass neighbor syndrome of generator.

Alternatively you may have to buy an existing shop with a notable goodwill, this may cost nothing less than N400k depending on the location. This means that on payment you own and inherit everything in the shop including the cashiers, you will start raking profits from that very week.

Things to note before buying a bet shop:

Try to see the weekly income statement of the existing user, this will decide if you are pricing too high for the shop. A shop with a weekly commission of N70,000 is not too bad for N400k or N600k buyout clause. Seek council from an existing agent to guide you right in this investment decision.

The difference between a new shop and an existing one is the revenue and the customers. You may need some time before you start making the kind of profit you desire in a new shop, while existing shop is selling a goodwill to you, to start making profit immediately without experimenting.

5. Engine oil business- selling engine oil has been one of the lucrative business ideas only few chose to venture into and have been making serious money from it.

You will do well in this business with a location very close to mechanic shops or general mechanic market like one popular Nkwo Nnewi automobile repair market in Anambra state and Mgbuka Obosi Onistha.

You could finish selling a drum of oil in three days making a profit of around N30,000 from a drum. Do your market visibility studies and thank me latter.

6. Private lesson/Tutorials- If you are a teacher in need of extra means of income, then this is for you. Fresh graduates can as well take to private tutoring and make decent income for themselves while applying for jobs. The truth is that you do not offer what you don’t have, you must have a very good knowledge of the subject you intend to teach.

Subjects on high demand are normally English language, Mathematics, Chemistry, Physics and biology. These parents are always willing to pay heavily for your services and time only if you know how to get In touch with them and prove that you actually deserve your bills.

Advertise your services on cardboard papers clearly displayed in conspicuous areas around streets and busy areas especially a high and middle class citizen residential areas. You can advertise your business on social medias, print flyers and share among parents in social gatherings, packaging is key.

7 . Sell memory cards/phone original batteries and chargers- You can actually start this business through mini importation. Go to online stores and search for these products like Iike on Alibaba, Walmart stores, Aliexpress etc, you will meet sellers who will like to do business with you. Make your product preference and shop around different prices to get best quality and prices as well. It's one of the business ideas that has the potential to make you an instant millionaire.

I will advise you to buy from merchants who offer free shipping, this is not only profitable but reduces overhead cost.

Choose to pay the merchant via Escrow, this means the merchant will only get paid after you might have confirmed the receipt of your goods to avoid scam.

You can only attract customers with quality and durable batteries, fast and durable chargers as well original memory cards. Go for the best to avoid killing your business young.

You could get these batteries at very good prices say N400 and sell for as high as N2k, N3.5k and N4k as the case may be, likewise the phone chargers, adapters and codes. If done properly your goods should be delivered to your doorsteps..

Are there viable business ideas you think should have made this list, let’s get to hear from you. If this article is resourceful and you think will help your friends and loved ones, kindly share these business ideas on social medias for a wide reach.


https://financengr.com/2018/04/25/7-profitable-business-ideas-in-nigeria-for-young-entrepreneurs/

The mods have done their worst.

For this thread not to get to front page shows their is no transparency in deciding what gets there.

This is a great disservice to mankind and I think the Nairaland management should look into this.

A similar thread that arrived this evening has been moved to front page, what a world..

alan056:
Application Succesful!

Congratulations..

mickel00:


Bro please how do i get past questions?

Familiarize yourself with GMAT questions, banking industry latest development..

Make a research on Skye bank products, know her mission and objectives. Good luck.

amiberry:
The site is not.going and i am using chrome browser
Anyome with the same problem

The site is currently undergoing upgrade to accommodate increasing traffic, kindly be patient. You are encouraged to use all browsers except Opera mini.

You may also have to contact yes centre for your enquiries on 01-2799500 or 01-4482100

Ojebo:
Pls how do I submit??..av filled all the required details but no Submit button o..hw do I go about it,pls

Is your browser updated, change browser. Use chrome preferably...

destino24:
I can't create an account

Which network are you applying with?

Lalasticlala please do the needful...

Skye Bank recruitment: Apply for Skye Bank entry level recruitment.

Skye bank is one of the leading commercial banks in Nigeria, committed to promoting customer convenience and lifestyle through arrays of electronic banking solutions.

In line with its commitment to improving lives through job creation, the management hereby approves fresh graduate entry level recruitment.

To apply for this job, you have to be passionate and result oriented.

Skye bank offers a competitive work environment and attractive compensation and incentives that enable you meet your career aspirations.

CRITERIA:

1 .A university degree with minimum of Second Class Lower  from accredited institution.

2. Completed the mandatory NYSC Scheme or have an exemption certificate.

3. 26 years or younger.

4. Willing and ready to work in any part of the country.

HOW TO APPLY:

1 Log on to Skye Careers on: www.skyebankng.com

2. Fill in your details via career portal.

3. Test Date is Saturday, April 28, 2018.

Note: Only shortlisted candidates will be contacted.

Signed

Management.

For enquiries and clarity please call: 01-2799500 or 01-4482100 or send email to yescenter@skyebankng.com


https://financengr.com/2018/04/24/skye-bank-recruitment-apply-for-skye-bank-entry-level-recruitment/

See how you can receive and make swift payment with mCash today. mCash is an innovative solution designed to facilitate low-value retail payments, grow e-payments by providing accessible electronic channels to a wider range of users and to further enhance financial inclusion in Nigeria, by extending e-payment benefits to payers and merchants at the bottom of the pyramid where usage of cash has been predominant.

This solution proposes to aid payments to Merchants (sellers) for commodities and services. It leverages the NIBBS Instant payments infrastructure for immediate fund delivery to Merchants accounts and the mobile telephone ussd technology which in recent times has become the most accessible channel for financial and non-financial transactions.

Features:

1 Merchant (seller) code is assigned without charge.

2. The seller receives instant credit for all transactions against T+1 of POS.

3. Payment is made directly from the buyer bank account, no need of card for mCash.

4. There’s no charge for ussd messages as the mCash ussd channel is zero rated.

5. Merchants (sellers) will not bear any cost for transactions below N10,000.

6. Payers get full refund for any transaction done in error.

7. Payments are made from any type of mobile phone.

8. Transaction security is guaranteed by usage of PIN when transacting and authentication with the BVN during enrollment.

Who can use mCash?

1 All business owners (Merchants/seller) who have goods and services.

2. Barbing saloons/Hair dressing Saloons.

3. Supermarkets/Grocery stores.

4. Lottery companies.

5. Pharmacies

6. Clothiers/Bootiques

7. Drycleaners.

8. Artisans.

9. Loungees/bars/ restaurants.

How to start using mCash for payment collection/receipt.

As a business owner, Merchant or Seller

Register with your bank by filling mCash form.
You will be issued an 8 digit Seller code.
Display the allocated mCash merchant code at various business locations for proper payers notification.


As a payer or buyer simply follow the below steps to make your payment for goods and services.

Step 1. Dial *402*Seller code*Amount#

Step 2. List of banks will pop up on your mobile phone, select the bank you want to use for payment.

Step 3. Select the account number.

Step 4. You will be required to provide your date of birth and create a passcode.

Step 5. Final stage: You will receive a confirmation message. As simple as that….

NB; A returning buyer will not be required to provide date of birth.

Benefits of mCash payment system:

1 Merchants are settled instantly without delay or recourse to reconciliation.

2. It does not require internet access.

3. It virtually works on all mobile phones.

4. Ussd service is available on all mobile networks with a wide coverage across Nigeria.

5. 24/7 availability.

6. It is easy and convenient as it limits the volume of cash individuals need to carry around.

7. It provides necessary information to the beneficiary E.g  Payee’s name and payment Narration to help with reconciliation.

What is seller code?

A seller code is an 8 digit unique number assigned by a financial institution to any Seller on mCash.

Can I make payment using any network?

Yes, mCash is available across all network.

What do I need to make payment using mCash?

You are required to have a mobile phone, an account in any CBN licensed financial institution who will require that you create a PIN/PASSCODE to secure your transactions.

Are transactions on mCash instant?

Yes, the payer is debited instantly and the Seller receives instant credit.

What type of mobile device can be used?

You can use any type of mobile phone.

How will the seller and the payer know that a transaction is successful?

The payer and seller both receive a flash screen SMS message showing status of the transaction.

What do I do in the event of a dispute?

The seller can dial *402*1*Sellercode# to get the list of his/her last 5 successful transactions or dial *402*1*Sellercode*Transaction Ref# to confirm a specific transaction. The payer can also report to his or her bank and a refund will be made in 24hrs after verification.


https://financengr.com/2018/04/23/see-how-you-can-receive-and-make-swift-payment-with-mcash-today/

ceeroh:
My fellow nairalanders, I'm in a dilemma at the moment. I presently work in a small company (one man business) with a ridiculously low pay, I can't even afford to save, no defined job description; I run all sorts of errands and yet, I still remain committed. And my boss, he never appreciates whatever you do, uses you as if you're not human, a chronic micromanager. So I wake up every morning feeling depressed and demotivated. But una know na, if I don't work, hunger will wire me and Bubu will call me lazy.
So recently, I went for an interview and I think I did well cos I was asked to come back tomorrow. During the course of the interview, the salary was mentioned and it's more than what I earn presently but the office is on the Island while I live on the mainland. So the t.fare will be much, even as high as what I earn at the moment. Which means I'll have little or nothing left with me after all the monthly expenses.
Now, I was asked to come tomorrow... should I go and hear what they wanna say? If the offer remains the same, should I reject or accept? I'm confused.
And I'm so so tired of my present job. No zeal, no motivation, nothing whatsoever.


Please push this to FP, I have less than 24hours to decide.

Citing the latter part of your submission

"And I'm so so tired of my present job. No zeal, no motivation, nothing whatsoever[/b].

Citing the latter part of your submission

"A[b]nd I'm so so tired of my present job. No zeal, no motivation, nothing whatsoever."

bluediesel03:
You just said, banks would not tell her customers this. Then I ask, don't you think banks will frustrate any of her customer that wish to invest in treasury bills? I need urgent reply. Thanks

Thank you very much for citing that observation, you see your investment is a function of your choice and decision.

No body has the right to frustrate your effort while trying to invest in treasury bills rather they could choose not to market it as that will discourage you from having a fix deposit with them.

The major problem here is information which you now have.

You have the leverage to write to CBN directly stating your frustrations if any, then see how the apex bank will handle that.

Hope my lines are not ambiguous?

Pentools:


this is highly informative. Pls can I have ur contact maybe ur email address or WhatsApp contact, need your utmost financial guidance/advice. Thanks in anticipation...

Glad to know you find it helpful. You can forward your mail to raphdon515@gmail.com better still visit my blog attached to my signature for further educative materials.

Welcomed decision/development, but long overdue!!!

You will be remembered forever.

#Respect!!

Well detailed and simple. This must be a product of experience and experimenting. Sometimes it's always good to have been there to tell the lessons better.

Keyword research before content creation is the way to go if you expect to get organic traffic from search engine, I use think it's a mere say till I almost got frustrated with my first blog.

I don't write contents now without doing a keyword research first and aim at a target and profitable keyword. Since I imbibed in it, my blog has been getting organic traffic like mad. There's no rocket science.

Creating quality back links will as well compliment your effort, this is very very important for search engine to rank your site.

Having done that carefully, relax and be patient while your dividends matures.

Cromcruach91:


During GEJ 's time, oil was, from 2011-14 above $100 per barrel...so the money was 'techincally' there to meet demands.

Except that even at that....it was not enough. Failure to remove oil subsidy plus spending on heavy infrastructure plus bad economic practices left little money for salaries.

Now the problem has carried over to Bubu...who met oil at $70 , then it dropped to $29 , and now it is just up to$70 again. Unless govt takes another loan....

And you think it's wise to meet the demands of Doctors and abandon other health workers, FG managed to answer the Doctors then gave a deaf ear to the Nurses, Pharmacists and other staff.

These people are buying from the same market for crying out loud. I think you should do well to understand why JOHESU Embarked on strike. Ngige just served a peripheral piece to serve their wicked act towards JOHESU.

Find out what real problem is, thank you.

Just when think you've seen or heard it all, another surfaces!!!

9ja home of comedy!!! We hail thee..

Lalasticlala

Introducing the new Skye bank mobile banking application. The era of technology has driven innovation to the next level, thus the ease of accessing bank products at the comfort of your home through mobile phones.

Nigerian banks may have different philosophies, goals and objectives alongside perceptions in diversity when it comes to products they sell, how they sell it to the public, but mobile banking is one area they seem to have similarity in diversity.



The emergence of Skye bank mobile banking application has helped its’ customers immensely. It’s also worthy of note that some customers still encounter difficulties while trying to install and sign up on the Skye bank mobile banking platform.

I will really want to take you by the hands then show you the A, B and C of how to install and start using the Skye bank mobile application.

Skyemobile: This is a mobile solution that avails you the opportunity to have access to your bank account through your mobile phone. This is however irrespective of your GSM network.

Benefits of Skyemobile:

1 You can check account balance via the Skye bank mobile banking application

2. You can purchase airtime of any category and even transfer same to your loved ones be it MTN, Glo, 9mobile, Airtel.

3. It gives you the opportunity to pay your bills like DStv subscription, Go TV, PHCN, Donations to churches, nongovernmental organizations, payment of school fees etc.

4. Card control

5. Master Pass

Who can use it?

Skyemobile can be accessed by every Skye bank customer with a phone.

Is there any charge for transferring money into another Skye bank account?

No, transferring money within Skye Bank is free. However there are processing charge for transfers to other bank accounts.

Read also: See How You Can Get A Bank Teller Job Anywhere In Nigeria

If I lost my phone and simcard probably damaged or stolen, what will happen?

Your money is safe, your account PIN protects your Skye bank mobile banking account. You will have to contact yes Centre on these numbers: 0700075932265, 08069880000, 01-4482100, 01-2705850 or emailYescenter@skyebankng.comyou can as well visit your nearest branch for complaint and support.

Who do I contact for support?

For complaints and dispute resolution, contact Yes Centre on 08069880000, 0700075932265, 01-4482100, 01-2705850.

How do I register or activate my SkyeMobile?

After downloading the Skye bank mobile banking application (Skyemobile) from the Google play store, sign up if you are a new user, provide your credentials to register and activate thereafter. If you are an existing user, select “Existing User” provide your credentials to register and activate.

Note: The phone number to be used must be the registered Skye Bank account phone number as well the email address.

What do I do when I forgot my pin?

Login to the Skyemobile App with your phone number and password, then select the menu button on the top left of the app screen. Select “My Profile”, then select the “Pin Reset”. You will be required to provide any 2 answers to your security questions created during registration. The answers are case sensitive and can be provided in any order. Finally create a new PIN and save. You are done.

If I don’t get my activation, what do I do?

On the “enter activation code page”, click on ”resend activation code button” or dial *389*076*0# from your bank registered line to get an activation code.

What if I forgot my password for Skye bank mobile app?

On the login page, click on “forgot password button.” You will be required to provide any two answers to your security questions created during registration. The answers are case sensitive and can be provided in any order. Finally create a new password and save.

And when I forgot the answers to my security questions?

Login to Skye bank mobile banking platform with your phone number and password, then select the menu button on the top left of the app screen. Select my profile, then select the “forgot security questions option.” You will be prompted to create a new set of security questions. You will then be required to enter your current PIN to save.

How do I add my other accounts to Skye bank mobile banking app?

Login to Skyemobile with your phone number and password, then select the menu button on the top left of the app screen. Select my accounts, then click the (+) sign on the top right of the (My Accounts) page. Enter the account number of the account you want to add, select the account type and enter your existing primary SkyeMobile PIN and send.

Read also: 5 reliable ways to receive money in Nigeria

Features of the newly improved  Skye bank mobile banking app.

Improved user experience

Performance improvement

Customizable background and profile picture

Automatic account verification

Meter number verification for PHCN payment

MasterPass/ Payment

Landing payer transaction history

Login page background music

Horizontal account navigation

Delete push message

Improved DSTV and GOTV verification and bundle selection

Live chat with Yes Center

Note: If you can not launch the app after downloading and you are pretty sure you have a good data network, kindly follow these steps:

1. Go to settings on your mobile phone.

2. Click on the apps option.

3. Identify Skyemobile app.

4. Enable and grant permission for all parameters.

6. Launch the application again, you are good to go.

On activation of Skyemobile on your mobile phone, you can only transfer N1000. To increase your limit, visit the nearest Skye bank branch.

Are their questions you wish to ask or further suggestions? It's your turn now.



https://financengr.com/2018/04/16/introducing-the-new-skye-bank-mobile-banking-application/

13+ ways to grow your entrepreneurial business. Virtually everyone who has been involved in the 8-5 race wants to be self reliant, provide for themselves, dictate their own pace and do not want to have a boss over their shoulder.

Probably wants to wake up from the bed without recourse to time while they make enough money to boost their financial status through a viable business.

These are people with entrepreneurial mindset. According to Zig Zigler "If you can dream it, you can achieve it", that's the power if the mind.

This guide will teach how to grow your entrepreneurial business to a profitable end.

Entrepreneur: Is used to describe someone who creates income streams or make money by starting his own business. They usually do this when they identify new opportunities and take risk as well.

To grow your entrepreneurial business you will have to adhere to the following steps:

1. Know who your competitors are: Obviously you may not be the only one in your chosen line of business, other entrepreneurs must have been operating prior to your arrival, it's then important to know who they are and what they are doing. Are they direct or indirect competitors?

Direct competitors are businesses that have same product  or offering same services as you do, these are the type you must watch closely, while indirect competitors are those who don't offer same service, but meet the same needs in an alternative way. You should be able to know;

A. How your competitors position themselves: The same products and same service can be offered in different ways.

B. Understand the pricing: You must not be too far or low, your pricing should be in line with what the buyers are looking out for, what are the people in your market willing to pay for?

C. Identify your competitors strength: Your idea is to beat your competitors in the same business for same buyers or customers, what do their customers like about them? You may want to offer those things too in unique ways, you will definitely gain ground in the market.

D. Identify your competitors weakness and capitalize on them: Knowing your competitors weakness will help you identify your strength, satisfy the customers in that area and improve your entrepreneurial business.

2. Provide exceptional services: Everyone in business has a service to offer particularly your competitors, but the uniqueness or how these services are being offered to meet needs is what makes the difference, you should go that extra mile to make the difference and stand out to improve your entrepreneurial business.

A. You must know your product inside out: Having good knowledge of what you are offering as you could entertain questions from customers, sounding convincing and confident indicates you know your business.

B. Be friendly: This is natural, being friendly with your customers is a natural way of winning their loyalty, improving bonding while attracting referral benefits. A hostile customer service will kill your business. Every customer wants to feel welcomed and a sense of belonging.

C. Say thank you: Appreciate your customers for choosing you out of many. Gratitude is worth remembering and will always push your customers to your end.

D. Train your staff: Your employees must respect your customers, integrate this in your policy. They must be held to a high esteem, provide trainings that will sensitize them on the need to attend to customers with passion and respect.

E. Listen to your customers and provide their needs.

F. Work and improve on their complaints: This is necessary to maintain their loyalty to your brand.

3. Maintain communication and feedback: Reach out to your customers especially if they haven't come visiting for a while, enquire to know what has gone wrong if any quickly address it and apologize genuinely no matter who's at fault. Whatever feedback you get should be treated with all seriousness it required. Send text messages on their birthdays and wish them well at festive periods. This will help you maximize sales in your entrepreneurial business.

4. Your team must be customer centric: Your customers are key and kings. Strive to leave them with an impression that they are highly valued and welcomed to your fold, never let a dull moment with them. This must be communicated to your employees, the customer is a friend and should be treated as one. See how you can achieve that,

Get everyone involved with the customers no matter the department.

Reward employees for exceptional service quality and customer satisfaction.

Put customer satisfaction ahead of everything else.

Create awareness in your organization.

Make customer satisfaction a part of your values and philosophy. At all times your team should be taxed with providing an exceptional customer experience.

5. Product design and packaging: Create and acceptable and appealing product through creative design and packaging. Your product outlook must be inviting and appealing to the your intending, would be and existing customers.

Judging the book by its cover, some customers will associate with your brand because of its packaging and design. But the quality must as well compliment the packaging and design otherwise your will fail and your entrepreneurial business will suffer.

6. Conduct periodic market survey: Market survey will enable you to understand the needs and demands of your customers relative to quality and pricing. Listen to their feedbacks, conducting a survey will expose your weakness to yourself as well that of your competitors and their strength. Improve on your weakness, capitalize on theirs to win a new business ground. You may use questionnaire and direct interaction approach, this will improve your entrepreneurial business.

7. Pricing: Right pricing to a great extend will determine your success, if it's higher than the expected market condition with all variables being constant, customers will switch to your competitors who provide relatively affordable market price.

If you ate just arriving at the market, you may scale down your price a bit then up when your product gained entrance and widely accepted, the quality must prevail.

8. Reward customer loyalty: Reward your customers for patronizing your products this will go a long way to improve your entrepreneurial business, you may achieve that doing the following,

Offer discount on sales.

create and introduce a loyalty card

Give a way free items with multiple purchases like buy one get one free.

Invite customers to trial developing products and services for free, ask customers to provide feedback on a new offer.

Take your best customers for a day out.

Reward introductions and referrals.

You cannot be that wrong doing these at intervals, keep it up and record steady growth.

9. Grow your contact base /email list: Keep in touch with your customers, announce your new arrival using this channel.

The customer base is the lifeblood of your business future success, the relationship you build with the base is how you grow or not.

10. Provide sponsorship

11. Motivate your employees. This is an integral aspect of your business. A happy employee will treat your customers processionally. You can do this by improving job offer, appraisals and promotions, rewarding exceptional service.

12. Diversify your business.

13. Aggressive advertising campaign

14. Create customers forum and have heart to heart discussions.

Conclusion: You now have what it takes to drive your entrepreneurial  business to the highest level.

Use the comment box to drop your questions and  suggestions if there's any on growing entrepreneurial business. Share this post of if think its helpful.

https://financengr.com/2018/04/15/13-ways-to-grow-your-entrepreneurial-business/

How to invest in treasury bills in Nigeria. I'm here to teach you yet another interesting topic that will guarantee your financial success if towing the part of financial literacy is what you desired.

The rate at which Nigerians embraced financial securities in the past decade or more is no longer what's obtainable today probably owed largely to global economic melt down that hit the world at large in 2006 or so.

However, I deem it necessary to educate you on the impact of financial security to your life at whatever level you may think of.

Ever since the capital market crumbled, few Nigerians with reliable information on investment have continued to rake in profit from this same market and are not ready to stop anytime soon. "Who no want make money?"

What differentiates you from these few individuals is information, no wonder they say "information is power" and you beat that.

If you are ready to join the band wagon, kindly go through this article and do yourself a great favour by imbibing on the guidelines and instructors therein.

I'm committed to showing you how  to make money investing in treasury bills in Nigeria.

WHAT IS TREASURY BILLS?

Treasury bills are short-term maturity promissory note, issued by the federal government to the public as a primary instruments for raising funds to undertake its projects and as well regulating money supply in circulation. The federal government normally issues treasury bills through the Central Bank of Nigeria (CBN). Unlike the usual shares, treasury bills in Nigeria is normally traded for less than one year, typically three months, you will get back your funds.

How possible is it that the federal government will borrow money from the public when the oil money is there? The truth is that federal government can run out of fund, like it's not a news that at some points in this country last year the federal government could not pay salaries not to talk of releasing allocations to the State government. Some many factors led to that as such one of those things that could compel the federal government to borrow from the public.

BENEFITS OF TREASURY BILL

1. Treasury bills in Nigeria is risk free, this is an investment you cannot be afraid of. It doesn't go bad, you are lending your money to the federal government who must pay back at all cost.

2. Interest on treasury bills is paid up front: You are being paid the interest immediately you invest, then wait for the maturity date to collect your face value. Name any security that will pay you interest upfront on investment and I will wait. That's the beauty of treasury bills in Nigeria.

FEATURES OF TREASURY BILLS IN NIGERIA

1. there's a discount while interest is earned upfront.

2. It's used to raise short term funds to bridge seasonal/temporary gaps between receipt and expenditure of government.

3. It is a negotiable instrument: This is a document that contains guarantee or promise to pay a specific amount of money to a person or entity in possession of the instrument, whether on a specified date or on demands.

4. Assured yield and low transaction cost: Interest is guaranteed with less effort, it's a duty bound investment.

5. Fixed rate of interest

6. Maturity date, this is the date the investment tenure is expected to expire, usually 91 days, 182 days and 364 days.

7. Treasury bills in Nigeria are now  issued in electronic form.

ADVANTAGES OF TREASURY BILLS IN NIGERIA

Short term investment: The investment period is usually short within 91, 182 and 364 days.

Risk free: You can happily go home and sleep with your two eyes closed.

Can be used as loan collateral: You can use the treasury bills certificate to obtain loan from the bank as collateral. This is most acceptable collateral by banks.



It encourages individual investors: You can venture into it without much thoughts.

Monetary policy tool: Government uses treasury bills in Nigeria as a way of moping up funds in circulation from the public to reduce/ control inflation.

HOW LONG CAN MY INVESTMENT LAST IN TREASURY BILLS?

It's usually within 91, 182 and 364 days.

WHEN IS TREASURY BILLS SOLD IN NIGERIA?

It's usually sold bi- weekly.

HOW DO YOU CALCULATE TREASURY BILLS IN NIGERIA?

I= P × R/100 ×T/365

Example: Say you invested N1000000 at the rate of 12% for 364 days

Answer:

I= 1000000 × 12/100 × 364/365

= 1000000 × 0.12 × 0.99726027

= N119,671.232

It then stands that on your investment of N1000000 one million naira at the rate of 12% for 364days you will receive N119,671.232 immediately as your interest. This is one secret business the bank will never tell you, you can actually make a lot of money investing in treasury bills in Nigeria.

WHAT IS THE MINIMUM AMOUNT I CAN INVEST

You can invest from N10,000. Initially it was scrapped, but it has returned back to status quo. In fact you can invest any amount now, but make it reasonable as your profit depends on investment.

CAN INDIVIDUAL BUY TREASURE BILLS IN NIGERIA?

Yes you can buy treasury bills as an individual.

WHAT ARE THE RATES OF TREASURY BILLS IN NIGERIA?

The worst rate can go for 12%, meaning it could be above that.

ARE TREASURY BILLS TAX FREE?

Yes, you are not expected to pay tax on your profit.

WHERE CAN I BUY TREASURY BILLS IN NIGERIA?

Just like other instruments, it has primary and secondary offer.

The primary market is through CBN which you can access through the bank.

While the secondary market is across the counter, you can access this through your stock broker.

Definition of terms.

1. Face value: This is the amount paid to the holder at maturity.

2 Discounted value: Present value of a future sum of money to be paid at a stipulated future date.

3. Interest: Difference between the face value and the discounted value.

4. Tenor: The amount of time left for the payment of the face value of the instrument. Tenure is usually expressed in days.

5. Yield: The annual income earned from an investment, expressed usually as a percentage of the money invested.

6. Rediscounting: The act of exchanged for an amount of cash adjusted to reflect the current interest rate.

7. Discount rate: The interest rate of the instrument.

8. Mark to Market: Current market value of specific maturity. This is influenced by macro economic factors and is published daily by the FMDQ.

Conclussion: Having learnt all these secrets about investing in treasury bills in Nigeria, I hereby advise you to take a positive step towards enhancing and guaranteeing your financial future. The bank will never let this secret out to you, why not take advantage of a rare opportunity. Happy financial freedom in advance.

If you think this article has helped you today, kindly reciprocate by sharing it using the buttons below. Your friends and colleagues deserve to read and take charge of their financial lives as well.

Thank you for visiting this blog.

Let's have your questions in the comment box below.

https://financengr.com/2018/04/14/how-to-invest-in-treasury-bills-in-nigeria/

Hot ways to improve your personal savings in 2018. Developing a healthy financial structure is as good as practicing a healthy living, that being said, the importance of adopting ways to improve personal savings becomes Paramount on top of priority.

The purpose of this guide is not to promise an overnight millionaire, however following the below steps can actually make a great difference and improve your personal savings and finance.

Savings is a practice of taking away a fraction of your income for future use which could be aimed at unforseen circumstances.

Benefits of savings:

1. It provides a financial backup, life is full of uncertainty, need to save money to safeguard yourself when faced with harsh realities.

2. It can make up for seed money, you can startup a business without seeking out loans, no startup financial stress.

3. Can as well invest the seed money in stocks, bonds etc for a later yield.

4. With good savings plan, one can retire young while he pursue enterprise to better finance.

5. Entrepreneurship, one major problem of entrepreneurial development is the funding. With enough savings you can start a business with resilience, energy and hard work you are good.

You can improve your personal savings in 2018 through the following:

1. Set a SMART goal: The truth is, you can't get to your destination if you do not know where you are headed for. To live this dream, you need to set goals, what exactly did you want to save your money for? It should be stated if possible on a sheet of paper. Read it to yourself every morning and work towards its actualization.

Besides, your goals for whatever reason must be a SMART one.

S- Specific, you should set specific goals void of ambiguity, should be clear to your interpretation without any form of misconception, this is your motivation.

M- Measurable, your set down goals should be measurable. Don't set goals without measuring parameters towards  achieving such goals. It should fit into plans and well accommodated.

A- Achievable, set goals that are within the tenets of available resources, you should achieve this within a specified time frame.

R- Realistic, you should set realistic goals to help you improve your personal savings. It must not be a wishful thinking.

T- Time, there should be a time frame to measure your goals, which may be short, medium or long term, you should work towards achieving your goals within a specific period of time otherwise the aim of such goals will be defeated.

2. Make plans: Setting goals is like a wishful thinking without making adequate plans to back it up. Strategize plans that will bring your goals to fruition. These plans could be the much strategies you laid down to help improve your personal savings and finance. This could include savings pattern, choice of investments etc.

3. Create a budget: This is your financial plan for a defined period of time. Projects you hope to undertake, what you intend to spend your money on? They should be defined and spelt out in clear terms.

4. Kindly differentiate your needs from wants: Your needs are the basic and essential commodities of life such as food, shelter, clothes etc. Needs from your budget should be given priority, wants can wait, if you must improve your personal savings and finance, prioritize your needs and avoid the wants.

5. Ask for a pay raise: If you are a salary earner, it's necessary to have a discussion with your employer to improve your service terms and conditions, be bold enough to push for an increase in your salary this will improve your personal savings and finance as well.

According to Heather MCGregor, if you ask for a pay raise, you must believe that you are not being paid the right amount of money.

In practice, you will never get to be paid the right amount of money, because no body can actually pay for your time. A pay raise will improve your personal savings if you push rightly.

6. Save at source: There's a room to improve your personal savings if you choose to save at source. This is an agreement where you have your salary account being debited to credit a specified savings account automatically while you receive the residual balance. This will help you have a healthy savings, impressive way to save money from salary.

However, avoid requesting for ATM cards for this category aimed savings account, it will only break your savings rules through unwarranted withdrawals.

7. Consider a cheaper housing:  This could be a major reason you struggle to maintain a descent personal savings.

To improve your personal savings, find out if your rent is sucking or way too much for your income, you could be spending much on housing. Area you domiciled could be a factor as houses are being priced according to choice areas.

If you live and work in choice areas in Portharcourt, Lagos and Abuja, you will appreciate this revelation. Move to a less choice area with affordable rents to accommodate your budget as well improve your personal savings.

8. Pay yourself: That sounds strange but can be effective to improve your personal savings, in your financial struggle it pays to set up a modality to pay yourself from your earnings, it can amount to huge sum at long run.

9. Avoid Borrowing: He who goes borrowing goe sorrowing. Always live within your earning. Avoid habits of borrowing money to buy flashy electronic gadgets, phones, jewelries and expensive clothes to impress anyone it cannot in anywhere improve your personal savings, rather bring you embarrassment when you cannot pay back.

10. Remove your savings first, then spend: The difference between the rich and the poor is that, the rich save from what they have and spend what's left, while the poor spend what they have and save what's left if at all. It's a bad financial ideology to practice. You must remove your savings first no matter the circumstances, this can only be your bailout to improve your personal savings and finance.

11. Scale down your expenses: You may consider eliminating unnecessary expenses from your budget.

E.g Telephone bills, reduce the amount of money you spent on irrelevant calls, use text messages instead where necessary. This will amount to so much by the end of the month if you are able to monitor it.

How often do you steam your generator set, this is specific in Nigeria considering erratic power supply. You can instead buy rechargeable lamps, charge them for use at night than always buy petrol.

The money you spent in fuelling generator every night can pay your annual rent if you have ever cared to consider. Say you buy four liters each night at N600. N600 x 30 days= N18,000 for one month.

N18,000 x 12 = N216,000 for one year. Isn't that crazy to know how much you probably spent on fuel in a year while you may not have a complete savings of N50,000 for the whole year. Your rent could be N160,000 or N170,000 on average scale, be wise.

12. Keep cash away from home: There's always a direct correlation to spend when money is readily available, you had better keep the money in your savings account to improve your personal savings.

13. Convert your passion to cash: You can actually improve your personal savings  offering some services in exchange for money.

With good writing skills you can make money on Fiverr, do some data entry and freelance jobs part time online and earn decent income, to improve your personal savings.

You may start offering private lessons to students , can make it a mobile and part time job, name your price and parents who can afford it will pay.

Are there questions or contributions you wish make, field them in the comment box below.

https://financengr.com/2018/04/10/hot-ways-to-improve-your-personal-savings-in-2018/

May God bless their marriage!!!

You Can Import Goods With Letter of Credit in Nigeria, see how it works. The purpose of this guide is to reveal to intending importers how actually they can import goods using a seamless and easy means to source foreign exchange, which arguably has been the major challenge limiting importation of goods in Nigeria.

I will suggest you go through this guide with keen interest and concentration as it contains everything you will ever need for a successful importation of goods and services to as well guarantee profit after sales.

Letter of Credit commonly known as LC will form the pivot of this guide.

WHAT IS LETTER OF CREDIT?

Letter of credit is an order or document by a buyer through a bank, intending that a seller/shipper in another country be settled for the goods after all conditions are being met by both parties. The issuing bank is however acting or providing the foreign exchange for settlement on behalf of the buyer/importer. The shipper however could on his own choose a favorite bank in his own country he wish the payment routed through, otherwise it goes through the issuers corresponding bank.

WHAT DOCUMENTS DO I NEED TO PROCESS LETTER OF CREDIT (LC)?

To access Letter of Credit (LC) you will have to make available the following documents to your bank.

1 Valid Form M: Form M is a statutory document to to be completed by all importers for importation of goods and services in Nigeria.

HOW CAN I GET FORM M?

To get Form M you will need the following:

A SONCAP, is issued by the regulatory agency in charge of standard and quality of the product to be imported and for possible inspection.

B Insurance certificate: Like the name goes, this is to insure your goods in case of any eventuality.

C TIN Number: This is Tax Identification Number, by obligation you are required to pay tax to the government, this will serve as an evidence of tax payment. Recently Voluntary Asset and Income Declaration Scheme (VAIDS) was held in Nigeria as a way of granting tax amnesty to evaders, businesses, individuals to come out and declare their assets as well pay tax.

D Proforma Invoice: This is a document containing details of items to be imported, ranging from sizes, unit price, quantity, quality etc.

2 Application letter, you will have to apply officially to the bank stating your intention to access letter of credit (LC). This application must be made with your company letter headed paper, at this point you now understand that you need a company account for this transaction.

3 Bid request: This is simply an item showing that you voluntarily requested to source foreign exchange using letter of credit through the bank as every transaction is legally binding and can be enforced should anything go wrong.

4 LC application form: Apart from your initial letter, you are required to fill an (LC) Letter of Credit application form.

Having made provision for the above listed you are on your way to a successful letter of Credit (LC) offer.

5 Your Bank Account must be funded: Over the tune of the amount being sourced equivalent in USD.



HOW DOES THIS LETTER OF CREDIT WORKS?

Here is a typical example: Say an importer Mr. IK with the company name Ike God Investment Nig, Ltd approached a commercial Bank in Nigeria say Skye Bank Plc. Requesting a letter of credit to source foreign exchange to enable him pay his seller/shipper in China, whom he has agreed a specified price, items, quantity and quality as contained in the Proforma Invoice.

Note: Mr IK and the shipper, may be say Mr Chin Gao in China may not have necessarily known each other, their business could be on referral etc.

The bank will now require Mr Ik to apply for letter of Credit using his company/business letter head. He will as well be issued a bid request form, and letter of Credit application form. MR IK will then provide his Valid Form M which the bank could still help him access via the Form M window. Mr IK will have to fund his account to the tune of the amount being sourced in USD.

At this point the journey is half way done, the issuing bank (Skye Bank) will now reach to a corresponding bank In the Mr Chin Gao’s country i.e China. Mr Gao can decide or make a reference to a particular bank he wish to receive his money from. Once there’s a transmission the bank in China will contact Mr Gao with a notification of letter of credit on his behalf.

Mr. Gao will then release the shipping document to the bank in China, the bank in China will then contact Skye Bank with the details of the shipping document to ascertain if it’s actually what is contained in Mr Ik’s Proforma Invoice. All things been equal, the bank in China will be instructed to pay Mr Gao then Mr Ik will receive the shipping documents, will then wait for his goods to arrive Nigeria then clear his goods afterwards.

Hope it’s very clear and concise, importation does not involve a rocket science. You just need to equip yourself with necessary knowledge on how some principles involved work.

CONCLUSSION

NB: You must pay attention to the details of a letter of credit, ask questions, seek clarity where in doubt before you accept some terms, because once they are binding on you, they can be enforced.

None of these banks is a shipping agent and they do not have business with the quality of the product, all they do is act as foreign exchange providers and intermediaries on behalf of the seller and the buyer for accomplishing a smooth and healthy transaction between the shipper and the importer.

Also remember that the shipper will only get paid after he might have proved shipment in accordance with the dictates of the Proforma Invoice as well handed over the shipping document to the Bank.

You may ask how did the sourcing bank make its’ money? well, the bank provides the letter of credit on a particular rate to the customer, usually better than what is obtained in other foreign exchange markets.

Are there questions you wish to ask, avail yourself the opportunity to seek clarity where in doubt by simply using the comment box below.

https://financengr.com/2018/04/06/you-can-import-goods-with-letter-of-credit-in-nigeria-see-how-it-works/

Best banks for small business loan. There is a great financial need to support an existing business with funds, better still fund a startup. How and where to get these funds oftentimes become a herculean task, frustrating and difficult, with all variables in good shape it then becomes pertinent to source loans aimed at accomplishing this task.

While small business loan can be difficult to obtain, there are options not farfetched, in this article you will get to understand how small business loan works and how you can source the best loan for either a startup or to expand your existing small business.

Categorically as it concerns Nigeria, reading this guide will serve as an eye opener to your breakthrough towards accessing small business loan, to further assist advance your course into big time entrepreneur.

WHERE CAN I GET SMALL BUSINESS LOAN TO SUPPORT MY BUSINESS?

The answer to your question is tied down around few commercial banks in Nigeria who have in their own creativity, commitment and quest to assist dedicated entrepreneurs achieve their set down goals and objectives, made provision for seamless facilities that encourage small businesses.

First on this list is Diamond Bank: Diamond bank has a loan package termed PERSONAL LOAN, this loan actually came in existence for the purpose of assisting you overcome your financial challenges, you can actually access and convert this to small business loan.

Feature and Benefits of Diamond Personal Loan

1) It has a repayment period of up to 12 months, you can as well pay in installment.

2) The pricing is competitive, you can negotiate down the interest rate to your advantage, there’s no hidden charges.

3) You can access a minimum amount of N500,000 and a maximum amount of N5,000,000. Corporate Guarantee can access N10, 000,000.

There are however requirements to certify before you can access this facility

1 You must have a functional savings account with the bank, why not open one today and start funding your account gradually and build it up ahead of the business plan.

2 You will complete a retail lending application form provided by the bank.

3 You have to present your employment letter to the bank.

4 You confirmation letter is required or your last promotion letter

5 Staff ID

6 Valid ID card ( International Passport, driver’s license or national ID card).

7 Your proof of address. With all these details you are good to go sourcing your small business loan. Diamond bank is one of the easiest bank in history to get small business loan.



First bank: First Bank believe that Small and Medium Scale  Enterprises are key drivers of the economy, this is why they have designed products and services that create solutions for your business growth and sustainability. That being said, they have arrays of loan plans you can benefit from.

Oil and Gas Contract Finance: This facility is designed to meet the funding requirements of indigenous oil and gas companies who are either customers or prospects of First Bank.

Features:

1 The loan is self liquidating: Upon receipt of contract proceeds, you are required to be kneeling off.

2 The facility is usually short term tenured: This is mostly between 90 to 360 days.

3 The bank provides up to 70 percent of cost of contract execution and not that of contract value.

4 The product is essentially domiciliation of contract proceeds as the sole comfort except where the facility is in excess of N50 million naira for project finance which must be secured with tangible collateral.

Benefits:

1 There is an increased profitability

2 Contract Documents

3 Financial statement (Audited)

4 Evidence of past jobs executed, copies of payment advice.

5 Your application letter.



Import Finance: This is a First Bank loan scheme targeted at its’ customers who import raw materials or finished  goods and services into the country.

Features of Import Finance:

1 Credit facilities are made available through (LC) Letter of Credit, (BC) Bills for Collections etc. I will write exclusively about these two terms as it concerns importation in my next article on this blog for you to learn more.

2 It’s a short tenure facility with the lien on shipping documents serving as collateral.

3 Equity contribution is required

Benefits:

1 There is an ease of access to credit facilities for importation.

2 The customer can take advantage of volume discount and enlarge sales.

Accompanying Documents:

1 (KYC) Know Your Customer documentation has be in place.

2 Form M.

3 Proforma Invoice

3 Insurance

4 Risk Assessment Report (RAR). If your business is solemnly on importation of raw materials and finished goods, then back up yourself with this opportunity and make exploits, no doubt an effective small business loan.



Skye Bank: “Personal Term Loan,” This plan has been provided by Skye Bank to enable you meet your small business loan challenges, hence one of the easiest banks to get your small business loan.

Features:

1 Access up to N5 million

2 Flexible and convenient monthly repayment plan over a period of 36 months.

3 You will pay back from your salary domiciled with the bank.

4 There’s a competitive interest rate.

5 You are not required to provide collateral.



Eligibility:

1 Applicant must be in employment of reputable organization in private or public sector.

2 Applicant’s salary account must be domiciled with the Bank.

3 This facility is available to only confirmed staff.

How to apply:

1 Visit any Skye Bank branch closest to you to complete a loan application form

2 submit duly completed loan application form with all relevant loan documents.

3 Your loan is processed and disbursed within 48 hrs. Skye bank could be categorized as one of the top small business lenders, you can easily source your small business loan without much stress.



The aforementioned banks have been up and doing in providing what could be referred to as best small business loan for startups, they remain the industry good players with a track record over time.

Do you have a contrary idea, this list may not really appeal to everyone but do well to leave your contribution using the comment box below. Point out other banks you think are better in providing small business loan.



https://financengr.com/2018/04/05/best-banks-for-small-business-loan/

Bribery and corruption: Three police men detained for alleged N10,000 bribe. Emerging report can confirm that Imo State commissioner of Police , Chris Ezike , has ordered the detain of three police men in the state attached to anti cultism Unit of the command for threatening to defame a group of journalist while they collected N10,000 bribe from them to get pacified on Sunday.

Bribery and corruption is a cancer that has eaten deep into the social, civil, political culture and every sector across the Nigerian divides.

In a statement by the Imo state commissioner Police Chris Ezike on Tuesday said he had given Deputy Commissioner of Police in charge of the state Criminal Investigation and intelligence Department one week to conclude investigation into the matter.

In line with the commitment of the Nigerian Police Force to purge itself from corrupt officers who have continued to tarnish and paint the image of the Police Force in bad light.Ezike said “The three Police men are in detention now. I have directed the DC SCIID to investigate the matter.

“I have equally directed him to reach out to the complainants, because as we speak, no body has reported the incident apart from what we saw in the media.

“The Inspector General of Police is passionate about discipline and excellence. The allegation is bribery and corruption with impunity.”

The victims were understood to be members of the Online Media Practitioners Association of Nigeria who attended the Association’s convention inOwerri between March 30 and 31​

https://financengr.com/2018/04/04/bribery-and-corruption-three-police-men-detained-for-alleged-n10000-bribe/

N13.5m Running cost: leadership of National Assembly should be held for fraud- Prof. Itse Sagay (SAN)

Following a revelation made by Senetor Shehu Sani representing Kaduna, on illegal N13.5m received by senators monthly. The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has differed on the provision of the law on the alleged N13.5m running cost.

RMAFC has clarified its position on the supposed salaries and allowances of senators.

According to the Commission, the Law on Salaries and Allowances of Public Office Holders is very clear and as such

“it is only the management of the National Assembly Service Commission that can explain  the N13.5 million running cost allegedly being enjoyed by each Senator as  the Act only covers Salary and Allowances but not Running Cost,” it stated.

The statement which was issued by the Commission’s spokesman, Ibrahim Mohammed said a closer look at the monthly entitlement of Senators reveals that,

"Each Senator collects salary and allowances of the sum of N1,063,860:00 consisting of the following basic-N168,866:70, motor vehicle fuelling and maintenance allowance N126,650:00, Personal Assistant N42,216:66, Domestic Staff-126,650:00, Entertainment-N50,660:00, Utilities- =N50,660:00, Newspapers/Periodicals -N25,330:00, Wardrobe – N42,216, House Maintenance – N8,443.33:00 and Constituency – N422,166:66 respectively.” “It is instructive to note that some allowances are regular while others are non-regular.

Regular allowances are paid regularly with Basic Salaries while Non-Regular allowances are paid as at when due. For instance, Furniture allowance (N6,079,200:00); and Severance Gratuity (N6,079,200:00) are paid once in every tenure while Motor Vehicle Loan-(N8,105,600:00) is optional which the beneficiary has to offset before leaving office,”

Mr. Mohammed said. “The payment of Running Cost is not part of  RMAFC mandate, therefore only the NASS can explain it,” he added. The Statement adds that auditing does not fall within the purview of the Commission. Thus, RMAFC also wishes to use this opportunity to state that any other payments enjoyed by any political, or public office holders outside those provided in the Remuneration Act of 2008 is not known to the Commission and the Chief Accounting Officer of the Agencies concerned should explain it.

According to the chairman, Presidential Advisory Committee Against Corruption. Prof. Itse Sagay (SAN) "Both Senate and house of representative leadership should be held for serial monumental fraud. There's no need asking National Assembly Service Commission to justify or explain modus operandi of the fraud Prof. Sagay said.

Left to see if there could be more revelations and anomalies indicating a clear act of fraud order than the initial statement of Senator Shehu Sani.

https://financengr.com/2018/03/29/n13-5m-running-cost-leadership-of-national-assembly-should-be-held-for-fraud-prof-itse-sagay-san/

War against corruption: N2.4bn recovered from ex-chief of Air Staff, Marshall Adesola Amosu

The Economic and Financial Crimes commission (EFCC) has intensified its’ fight against corruption and embezzlement of public funds by political and public office holders. According to its’ briefing to Justice Mohammed Idris of the Federal High Court Lagos, the sum of N2.5 billion and $115,000 have been recovered from the former Chief of Air Staff, Air Vice Marshall Adesola Amosu rtd.

N383 million was as well recovered from his wife.

In the heat of the on going trial of Amosu over alleged N22.8 billion fraud. It could be recalled the former Chief of Air Staff had been arraigned in June 29, 2016 alongside Air Vice Marshall Jacob Bola Adigun, Air Vice Commodore Gbadebo Owodunni Olugbenga and other companies.

Included in the ongoing charges are: Delfina Oil and Gas Ltd, Mcallan Oil and Gas Ltd, Hebron Housing and Properties Company Ltd. Trapezides BDC, Fonds and Pricey Ltd, Deegee Oil and Gas Ltd, Timsegg Investment Ltd, and Solomon Health Care.

According to a confirmatory statement “About N100 million was recovered from the third defendant, Air Commodore Gbadebo. The funds were also left over in St. Solomon’s bank account, recovered through the first defendant’s wife. About N383 million was recovered through the first defendant’s wife.

Amosu also refunded two bank drafts of N2.4bn in our Lagos and Abuja offices. We also recovered $115,000 In one of the first defendant’s residences. Various landed property and buildings were recovered from the second defendant.”

Among the recovered vehicles include a bulletproof Lexus LX570, a bullet proof Land Cruiser Sports Utility Vehicle  and a Toyota Avalon.  The matter has however been adjourned to April 18.

Some of the counts against the accused persons read as thus: “That you, Air Marshal Adesola Amosu Nunayon (Rtd), Air Vice Marshal Jacob Bola Adigun, Air Commodore Gbadebo Owodunni Olugbenga, Delfina Oil and Gas Ltd, Mcallan Oil and Gas Ltd., Hebron Housing and Properties Company Ltd., Trapezites Bdc, Fonds and Pricey Ltd., Deegee Oil and Gas Ltd., Timsegg Investment Ltd. and Solomon Health Care Ltd., on or about the 5th day of March, 2014 in Lagos, within the jurisdiction of this honourable court, conspired amongst yourselves to commit an offence, to wit: Conversion of the sum of N21,467,634,707.43, property of the Nigerian Air Force, which sum was derived from stealing.

“That you, Air Marshal Adesola Amosu Nunayon (rtd), Air Vice Marshal Jacob Bola Adigun, Air Commodore Gbadebo Owodunni Olugbenga, Delfina Oil and Gas Ltd., Mcallan Oil and Gas Ltd., Hebron Housing and Properties Company Ltd., Trapezites BDC, Fonds and Pricey Ltd., Deegee Oil and Gas Ltd., Timsegg Investment Ltd. and Solomon Health Care Ltd. between the 23rd and 24th day of September, 2014 in Lagos, within the jurisdiction of this honourable court, indirectly converted the sum of N976 million, property of the Nigerian Air Force.”

The heat is on, Nigeria is winning the war.

https://financengr.com/2018/03/28/war-against-corruption-n2-4bn-recovered-from-ex-chief-of-air-staff-marshall-adesola-amosu/