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Career / Re: Private School Vs SFH Contract Offer by Eddee(m): 12:51pm On Jan 07, 2021
Wande22:


As a former Account Staff in NGO, I would advice you stay with the school
You can only "jump ship" if you are assured of continuity

Then you should know better! You almost speak in favor of perpetuity without taking into consideration that for most of last year, teaching/non-teaching staff of schools struggled to stay solvent as COVID-19 screwed our backward educational system. Sh*t can and will always hit the fan, the only way out is to be ready and stay dogged.
Career / Re: Private School Vs SFH Contract Offer by Eddee(m): 11:29am On Jan 07, 2021
Nisot7:
A very lovely Thursday to you all.

I was recently given a 6 months contract by SFH to work as a finance assistant of a project with a salary of N125,000 per month (subject to 5% withholding tax) and I currently work as an accountant for a private school which salary is N70,000 per month.

Is it advisable that I leave my current work of N70,000 per month and go for the contract offer with SFH or I should just reject the contract offer and continue with my present place of work?

Plz anyone?

Okay first and foremost, do you deduct and remit your income tax (PAYE) from the school you currently work for to the SIRS? If yes, then your net salary is roughly #66,673.33.

Your take home pay from SFH will be #115,500 and tax burden only #9,500 since you made no mention of Pension, NHF, NHIS, Life Assurance, Gratuity which could all act as relief in reducing your monthly tax burden. The difference in pay should easily cover 4-5 months of been out of a job if things go south with SFH.

Secondly, Short-term NGO contracts are tricky, anything 3-6 months means you’re obviously covering for someone on leave or they are looking to fill an urgent gap. Good thing is, this is January and contracts in my experience are usually for 12 months, so if you have a plug at Society for Family Health - you can put the question to the SFAO who you’d report to in the end anyway, ask him/her the project’s duration - this will give you an idea of contract renewal after the initial 6 months (your performance with regards to financial reporting and filing and documenting retirements will be key here).

Meanwhile, I personally love new challenges, so I’ll advise you to jump ship immediately grin of course, within the school policy’s notice period for resignation or termination. Refer to your letter of engagement or contract (usually 2-4 weeks or refund of the equivalent of 1 month salary).

Not for Profit accounting, will help your career growth in ways you can only imagine - there are loads of trainings, conferences to ensure your understanding of GAAP is top notch. So brush up on your Accounting for NGOs - basically just Income and Expenditure. Taxation is usually just income tax and WHT since NGOs are exempted from VAT. Your SFAO will put you on procurements immediately because that’s the core of what SFH does.

Finally, my guy, if you’re willing to stick your neck out, take the plunge and I’d always be here to walk you through any challenge you may face along this new journey.

Cheers

12 Likes 4 Shares

Car Talk / Re: Question On Starting System by Eddee(m): 7:49am On Dec 27, 2020
seanwilliam:
does myus receive package sent to the address other than the online shopping? I mean can someone send phone into my myus address??

No and Yes. Once you create a Myus account, you’ll be assigned a virtual address. Send your parcels to that address and Myus will handle the rest on your behalf for a fee.
Food / Re: Thread Of Foods You Can Cook On Christmas Day by Eddee(m): 3:05pm On Dec 11, 2020
HeavenlyBang:


I no follow for that one o. grin

Food / Re: Thread Of Foods You Can Cook On Christmas Day by Eddee(m): 2:20pm On Dec 11, 2020
HeavenlyBang come this side! This December na man dem go hold that kitchen stand #GenderEquality

1 Like

Car Talk / Re: Volvo Enthusiasts Association Nigeria "2020 Annual Get Together". Pics And Video by Eddee(m): 12:00pm On Dec 10, 2020
Man like Val. Nice one bro

4 Likes

Investment / Re: Treasury Bills In Nigeria by Eddee(m): 11:52am On Dec 10, 2020
NL1960:


Mind to share these valuable lessons?.

Why not. For clubs - size does matter, the smaller the better. Our space was just too big, makes it very difficult to fill up on ‘dry days’ and boy there are many dry days.

Operating cost/Working Capital - No Light (this one is a serious problem). when business doesn’t go as planned, the moral thing to do is not owe people. We didn’t reduce salaries like other competitors did and we paid the highest. We downsized but in the end we had to pull the plug so we don’t owe or reduce people’s means of livelihoods. As someone with considerable experience in Finance, we had long term framework agreements so we didn’t have supply related challenges (diesel, drinks, food etc). But we just couldn’t break-even.

Taxes - need I say more. Biggest challenge for Nigerian businesses is double-taxation. But this isn’t a problem if you file properly and are willing to visit your area tax office often instead of dealing with middlemen/agents and help them with the calculation if necessary.

Target market - our greatest undoing. We underestimated the loyalty points existing businesses had built in our chosen niche and their attendant reach and we paid dearly.

7 Likes 2 Shares

Investment / Re: Treasury Bills In Nigeria by Eddee(m): 11:17am On Dec 10, 2020
NL1960:


Did you run it yourself or employed somebody to run it for you?.

Long story- we went throught five or six managers in nine months, last one stayed the course til the very end. We are results based, we hire you, you get a budget (everything from endorsement with Henessey to runs with Jameson) to turn things around and you get a timeline. Fail and we move on immediately, might look like a knee jerk approach to running a business. But a club is just no ordinary business unless you use it to clean money. We cut our losses after a year and moved on, so many valuable lessons learnt with regards to actually running a business that depends on people (staff, customers, promoters) ’showing up’
Investment / Re: Treasury Bills In Nigeria by Eddee(m): 10:18am On Dec 10, 2020
Lazyyouth4u:

If it wwas that easy to make money there, why not put all your money directly in those sectors and come back to tell us how you have made huge returns? grin

You’re wasting your breathe arguing with paper tigers. I usually don’t suffer people who can’t put their money (assuming they even have) where their mouth is. I’ve lost money (collaborated for a Night Club/Lounge last year and learnt valuable lessons) and I’ve equally made a couple bucks here and there (currently into livestock farming). I still keep a 9-5 on a low! Anybody that wants to be taken seriously has to proffer solutions not constantly whine unnecessarily.

4 Likes 2 Shares

Car Talk / Re: The Official Car Comparison/Recommendation Thread by Eddee(m): 3:55pm On Dec 09, 2020
radautoworks:


Sorry about the other day. One of those days.

HeavenlyBang:


We good. wink

She don gree to give you that family connect? Think about the possibilities grin
Investment / Re: Treasury Bills In Nigeria by Eddee(m): 3:41pm On Dec 09, 2020
Macktaob:

Finding it hard to find the notes you submitted to be compared...

Nigeria is fucking poor as a nation, you were just regurgitating the same old cliche bs you African folks feed yourselves for self consolation instead of facing reality.

No doubt of course the little we got been and being mismanaged...

You’re an alt account- I don’t talk nor argue with ghosts. There’s nothing to prove to you about the wealth of your country - it’s visible and the ‘reality’ is that mismanagement, greed and wickedness put us in this position, this is my first and last response. Consider it a favor!

2 Likes

Investment / Re: Treasury Bills In Nigeria by Eddee(m): 3:26pm On Dec 09, 2020
emmanuelewumi:


Japan has human resources. What is the quality of our education? How functional is our education? How many researches are our universities carrying out every year? We produce graduates of engineering and science every year, how have they been able to use their knowledge to solve our problems? How many children are out of school?

What about health care? How many Nigerians live in a decent accommodation? How many of us have access to clean water? How many of us have toilets at home? Come to Lagos early in the morning and see open defecation by Lagosians who are homeless.

I’d love to stay here and engage with you but you’re obviously angrier at the state of affairs of our beloved country than I am. And this may degenerate from a purely fun-based interaction to a sentimental based conversation. Hopefully, we birth in the country of our dreams but I go still japa!!!

It’s been nice comparing notes, So long brother

2 Likes

Investment / Re: Treasury Bills In Nigeria by Eddee(m): 3:10pm On Dec 09, 2020
emmanuelewumi:


How can put this to Naira, dollars or pounds. Major economies have gone beyond mineral resources, what are the mineral resources in Japan?

I’ll like to clarify one thing, the initial conversation revolved around whether Nigeria was poor or not and not how well we compete with developed nations that have a fraction of our population.

What is the Naira, Dollars or Yen since you mentioned Japan? Okay I’ll answer that. First and foremost, a unit of measure for payment of goods and services. Essentially an advanced barter system! I guess you’re looking at exchange rate which has to do with economic health and standard of living. And I mentioned the fact that one of our biggest problem is ‘inequitable distribution of wealth’ - I don’t want to get started on corruption and nepotism.

As for comparing, what mineral resources a country like Japan has to Nigeria, they have the same Number 1 resource as we do - HUMAN. You must have read a lot about capital flight in the 70s, 80s and even 90s. But how about ‘human capital flight’ by our brothers and sisters over the same period and even now?

2 Likes 1 Share

Investment / Re: Treasury Bills In Nigeria by Eddee(m): 2:49pm On Dec 09, 2020
emmanuelewumi:


Okay sorry about the tone. Can you give your reasons why you think Nigeria is not a poor country

Nigeria is likely the second or third wealthiest country in Africa. We have great human resources (mostly tapped already), great swathes of arable land for agriculture of whatever nature. Petroleum/Natural gas reserves in quantities and quality that other countries will envy, we have zinc, bitumen, limestones, gold, coal and a host of other natural resources in commercial quantities. Like I said earlier and still insist respectfully, our problems are in no particular order; corruption, bad leadership and inequitable distribution of wealth.

7 Likes

Investment / Re: Treasury Bills In Nigeria by Eddee(m): 2:38pm On Dec 09, 2020
emmanuelewumi:



There is nothing to debate, Nigeria is a poor country about 80% of the states are not economically viable and sustainable.

Again this is very subjective. The economic matrices/indices government agencies base their poverty lies upon are geared towards creating the perception that we are poor - Nigeria just like Congo is not poor, only poorly run! Would love to discuss this over a drink or two and not argue online seeing the tone your response has taken!
Investment / Re: Treasury Bills In Nigeria by Eddee(m): 2:27pm On Dec 09, 2020
emmanuelewumi:



We don't generate enough income, the few generated are mismanaged, our population is huge and also growing at a rate higher than our economic growth rate

Chief, this is debatable. You’re right about mismanagement or should we use misappropriation/misapplication of hard earned IGR on recurrent/white elephant expenditures?

Anyhow you look at it, I don tire for this country!
Investment / Re: Treasury Bills In Nigeria by Eddee(m): 1:56pm On Dec 09, 2020
Lazyyouth4u:

I think this has to do that with Edo State’s credit rating of BBB- by Agusto. To raise funds from the domestic PFAs, bonds must have a minimum rating of BBB. Since Edo state doesn’t, the SPV will issue the bond and then on-lend to Edo State, who will in turn issue an irrevocable guarantee backed by the ISPO to the SPV for this loan.

No matter what happens to Edo state, the FGN will be deducting the amount due to SPV’s bond investors from Edo State’s allocation and paying into the sinking fund held by the SPV’s trustees. The PFAs can invest in the SPV as it is rated BBB by Agusto.


Interesting read, still don’t understand Nigerian governors’ obsession with debt angry
Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 9:19pm On Dec 08, 2020
HeavenlyBang:


Amen!
Who no see AMG buy go buy BMW M!

Louder for the Audi RS enthusiasts for back. Even Buhari fuel prices no fit hold us down. Seriously you should take King406’s offer and come drive in Abuja, worthy opponents everywhere (although 90% of them no fit drive anything other than straightline)!

3 Likes

Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 9:07pm On Dec 08, 2020
HeavenlyBang:


Na so we take hype 2020 wey make am cast like this so. angry

E no get wer e reach 2021 no fit bad pass 2020. I don do offline consultation with prophet dannybrasky. Everywhere go stew and Baba God don gree say all man must buy Benz. AMG for that matter!

6 Likes

Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 8:49pm On Dec 08, 2020
OPUSDEI1:
A veeeery sweeeeeeeet car to drive. Just purring as you quietly drive along, silently waiting for your throttle command to unleash the dragon, especially in the sport mode.

Diportivo, we await your testimony.

Senior man you go wait enter wahala grin - Dipo na that kind man, him no dey share war stories!

Edit: baba don change - this is a sign 2021 will be great, all of us go buy benz

8 Likes

Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 8:46pm On Dec 08, 2020
king406:
mine never start yet grin. I might risk a tune but i will have to be running octane booster. The main purpose of my mods is not really for power gains, its just to refresh my love for the car, because i’m already thinking about another car and all my options are still on the high side.

Invidia Gemini exhaust, BC racing coilovers, Invidia test pipes, aFe Takeda intakes

All those plenty grammer na only ‘NVIDIA’ Graphics the enter my head. Ah, video games of old

4 Likes 1 Share

Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 2:02pm On Dec 08, 2020
GAZZUZZ:
I remember chasing this whip for 400+ km and never catching up angry




https://www.youtube.com/watch?v=eoTlxoK2RnE

You dey pursue Diportivo? grin grin - Senior man perish that idea I take God name beg you, guy drove a Corolla from Lagos to Calabar in just 9hrs. (Bad roads and checkpoints time-wasting follow for that promo)

5 Likes 3 Shares

Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 1:58pm On Dec 08, 2020
Kewtt:
Decent car but Old news. Blasphemous topic.

Heavenlybang fit tension you enter wahala officially now. It's even an E Class for that matter - with an updated version of the engine you so much love!

4 Likes

Car Talk / Re: On The Eight Day, God Made The V8: My Journey To 400 HP by Eddee(m): 1:56pm On Dec 08, 2020
Congrats Heavenlybang - na this kind news dey gladden the heart. God bless you immediately bro! Bambamk I see you - maximum respect to Baba GAZZUZZ

9 Likes

Car Talk / Re: Repairs by Eddee(m): 5:55pm On Dec 07, 2020
HeavenlyBang:


Thank you, my brother. cheesy



No dey whine me. I'm aggressively looking a wife with big bumbum.



Na offine talk be this baba. This family has so much to offer brave men.
Car Talk / Re: Mercedes Benz Thread by Eddee(m): 4:30pm On Dec 07, 2020
HeavenlyBang:


Everybody cannot be preaching peace.
I'm a war.

Attack is still the best form of defence eh? grin

2 Likes

Car Talk / Re: Repairs by Eddee(m): 4:27pm On Dec 07, 2020
radautoworks:


Shortage dey of that gender for this family grin

No be for my turn (sorry my padi turn) grin - we know our onions

Car Talk / Re: Repairs by Eddee(m): 2:57pm On Dec 07, 2020
radautoworks:
This post is to about two things.
1) people keep wondering why a woman chose this path
2) the myth about hybrids/electric cars in Nigeria.

So to answer number one, I grew up in a house full of men. Not any men, they were ALL engineers. My dad, my uncles, my cousins, engineers. So little wonder that tickled my fancy too.

This 'Engineering' family, wife-material vacancy dey? Asking for a good friend and brother cc: heavenlybang

1 Like

Car Talk / Re: Mercedes Benz Thread by Eddee(m): 2:49pm On Dec 07, 2020
HeavenlyBang:


Enheh. Na Tunde.


I can usually tell his alts.

He stays out of people's businesses these days - In the spirit of this festive period Baba maybe you for just free Benz for am make peace reign. wink

3 Likes

Car Talk / Re: Mercedes Benz Thread by Eddee(m): 11:17am On Nov 30, 2020
Aimuakeyz:
Good morning, my MOM’s Ml350 will just get stuck in park, sometimes it shift to reverse but doesn’t move then after some hours it works well. The mechanic can’t trace the problem. Anyone experienced such before? Thanks

Change your mechanic immediately. Confirm you’ve blocked and deleted his number - after that state your location so you can be directed to a competent person that will diagnose and fix your Transmission challenges.
Car Talk / Re: Harsh 1-2 Shift, 2-3 And 4-5 Shift Flares On 2008 Lexus ES350 When Cold by Eddee(m): 6:50pm On Nov 19, 2020
Inception:


Car has since been sold. It was simply not worth the stress.

Ah, just seeing this. wink
Car Talk / Re: Harsh 1-2 Shift, 2-3 And 4-5 Shift Flares On 2008 Lexus ES350 When Cold by Eddee(m): 6:49pm On Nov 19, 2020
thebigkendo:


??

I guess inception will give us feedback, yeah?

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