BLACK COCKTALE

In view of this, the mindset of every current and wise Nigerian undergraduate should be to ‘educate’ themselves during this period where the Nation has failed to educate them. By the term ‘educate’, I simply refer to a practical form of knowledge seeking and empowerment that is directly relevant to twenty first century paradigms and the sectors which are of interest to the individual concerned. This is in direct contrast and opposition to those rigid ‘note-taking’ activities called ‘lectures’, that occur characteristically between the hours of 8 – 6 pm daily across many Nigerian University campuses and yet do not necessary position the undergraduate for real job readiness. In case the typical undergraduate had not heard, the average recruiter in Nigeria today has expressed dissatisfaction with what has been termed a situation of “lack of job readiness” by a majority of graduates who are produced by Nigerian universities. Therefore, in my humble view, the average Nigerian undergraduate who is currently sitting at home, stuck in a rut, penniless, and bemoaning the strike should be saying to himself or herself “How do I acquire necessary competencies and skills that are relevant for today’s world and the twenty first century work environment, many of which, thousands of older Nigerians who graduated ahead of me had to learn or acquire the hard way i.e. under hard pressure, vicious time lines and extreme financial cost”.

Below are some carefully thought out steps which every (wise) affected Nigerian undergraduate can begin to practice so that the period lost to the ongoing ASUU strike will not count as wasted time. However, I must stress before going further that the goal of any affected undergraduate at this critical point of a forced, meaningless and indefinite holiday, must not be to make money or profit. Rather the goal must be to learn as much and as quickly as possible what the real world expects of you at the point of graduation (I dare say even now) and how you can begin to position yourself now, through acquired skills and alternative learning platforms to meet those expectations.

Step 1: Actively seek Information

Every undergraduate who is currently affected by the strike should become an active seeker and devourer of information. If you do not have a habit of reading books (try to form the habit) then spend as many hours on active information search engines or sites on the internet reading articles, opinion blogs, as well as local or foreign news and discussion sites. Equally students should try to read daily news papers, paying keen attention to the business sections containing sector reviews and analysis. Through the habit of seeking information, you will discover hidden opportunities (such as affordable short courses, free skills workshops and trainings, volunteer opportunities,  internships, competitions etc) which are not only relevant but also exist around you and you can begin to take benefit of such opportunities.

Step 2: Acquire a new skill

This advice includes but is not limited to lower skills or skills relevant to trade. Yes, now more than ever, I encourage undergraduates to learn such skills as hat making, tailoring, bead making, baking, hall decorations for events, make-up, photography etc because these are huge revenue-spinning activities which individuals can build successful businesses around. But, very importantly also, I encourage undergraduates to acquire as many higher skills as possible (which is what many of your counterparts in various parts of the developing world are currently doing). During this strike period, Nigerian undergraduates are encouraged to enrol for beginner courses and trainings in professional programmes such as personnel management, project management, Human Resources Management and other trainings that will expose them to modern skills requirements. Undergraduates are not too young to start acquiring such high level professional skills or building such formative lines of future career expertise.

Interested undergraduates can also dedicate this period to learning or acquiring knowledge of a second language. Many firms are willing to pay individuals who can translate contract documents effectively from Mandarin (a Chinese language) or French for example, into English. Young Undergraduates can also acquire new skills in areas of technology such as web design or the use of specific soft ware to create certain web applications. Many of such skills can be learnt through e-learning guides that can be freely downloaded on the internet. Correspondingly many individuals and organizations are willing to pay for the services of proficient web designers, graphics designers as well as innovative software writers who can write specific and relevant Apps for companies.

Step 3: Engage as a Volunteer or Intern within a work-place environment.

Young undergraduates should readily volunteer their services within organizations and firms that will in turn serve as platforms for training and exposure through the process of experiential learning. This is not the time for such individuals to quote salary expectations to firms in view of the presumption (except in rare instances) that an undergraduate has not qualified and so does not present any direct skill to the organization. This is a time for you to gain knowledge about the workplace environment, the structured running of its systems, the disciplined nature of operations, the manner of client or customer relations, the effectiveness of management and Human resources. Such an undergraduate will not likely be given independent assignments but he or she may likely be assigned to a team, conduct internet based research, run administrative errands, welcome clients or customers at the reception or execute slight clerical duties. Depending on the undergraduate’s disposition to knowledge as well as personality he or she may likely be mentored by a more senior individual within such an organization which could turn out to be a turning point in terms of future career options and progress. Undergraduates should therefore create (where none exist) or avail themselves of existing volunteer or internship opportunities during this strike. Not only do these constitute privileged platforms for learning and experience gathering but in addition they reflect on the beneficiary’s CV positively and give him or her an edge over the rest of the competition in the labour market.

Step 4: Initiate social change solutions (and potentially earn an income) within your communities

One of the easiest ways to create an impact is by solving immediate social needs within your host community. This is also a fast way to rise and receive commendation in a modern world that is always on the lookout for change agents. Young undergraduates can come together within their communities and form collaborations to solve existing social challenges. The activities of such collaborations may be done freely for instance organizing free basic health sensitization talks for members of their communities, whilst occasionally calling on professionals or they could adopt a business model through which such undergraduates can earn an income for themselves. For example a group of four or five undergraduates can come together in their local church or mosque and provide basic computer literacy training programmes for adults or other youths at a reduced rate compared to commercial training centres. Another recommendation is for young undergraduates to organize and supervise local excursions for children within their communities or churches and mosques to recreational centres such as the local zoo or other local tourist attractions and acculturation centres for a small fee, particularly on weekends or during public holidays. Through such collaborations many undergraduates who are idling away at home can begin to tackle a host of social problems using sustainable business models for their host communities. I also recommend that whenever young undergraduates engage in such positive social activities they should document same through created blogs or pages on the internet where pictures and summaries of their activities may be posted as a model for other youths to adopt within separate communities.

Step 5: Engage in ongoing competitions, contests or provide research assistance

For the young undergraduates who are either study inclined or entrepreneurial, there are numerous creative writing and essay competitions on various subjects ranging from Science to the Arts as well as business plan and enterprise competitions, both local and international, which are either ongoing or crop up every day. It is wise for inclined individuals to be vigilant and visit potential news sites or channels where such information are likely to be published or subscribe to relevant online newsletters which will regularly update you on such information. I encourage many Nigerian youths and undergraduates to constantly participate in such competitions. One thing is certain, whether or not the individual wins such competitions (which could result in attractive financial rewards or even national recognition and media acknowledgment), he or she would have been nevertheless exposed to new knowledge on a wide array of subjects through the research involved in the preparatory stages of such competitions. In addition students with strong academic profiles can offer their services as research assistants to their lecturers who might currently be pursuing independent or private research for journal or self publication despite the pendency of the strike. Such services may also be offered to individuals or contacts within their family networks who might be professionals within the private sector or even governance and the nature of whose work may involve elements of research and summary of findings.

Step 6: Apply for short term jobs in Businesses with Low Entry Barriers or Become Mobile Money Agents

Many burgeoning small businesses and commodity based companies across Nigeria possess low entry barriers and many times they conduct recruitment for field agents in respect of which no formal degree qualifications are required. Some of such businesses engage in trade activities which in turn rely heavily on customer delivery or field marketing services. The drivers of such companies and businesses are therefore frequently in search of delivery agents or alternatively product marketing agents who can operate within designated local areas and render deliverables. For instance, as an illustration, many of the recent Nigerian online shopping sites assure online customers of prompt (usually 3 working days) deliveries of ordered products across every part of Nigeria. Such companies may be keenly interested in building a network of delivery agents. Nigerian undergraduates, in their various parts of the country, may consider approaching such companies with their services for a small or fixed commission.

In addition the mobile money platform recently introduced into the Nigerian market is a viable payment platform for an open ended list of services and business which, if applied, can give birth to the creation of thousands of jobs for individuals who are willing to serve as agents of such payment platforms within their host communities and subsequently campuses. Undergraduates can approach some of the existing Banks and financial institutions in the Country (notably Stanbic IBTC and First Bank) which currently operate mobile money platforms and subsequently apply for roles as agents or marketers of some of the existing and potential mobile money payment platforms for businesses in their communities.  Through this means young undergraduates can begin early efforts in student entrepreneurship and also engage in positive self reliance through income generation.

These are but a few strategic and  potentially rewarding activities which current Nigerian undergraduates who are affected by the ongoing nationwide ASUU strike can engage in, towards securing relevant skills and ensuring that they are not relegated to the fringes in the midst of a high competence driven and competitive global environment. As the wise undergraduates pursue this course of action, I urge private sector entities and organizations to become receptive stakeholders of this proposed action plan for student undergraduates. Private business organizations are at this critical period strongly enjoined to open their places of business and operations to seeking undergraduates who are eager for exposure and learning within a structured workplace environment. Such private organizations and businesses should also engage interns and volunteers in practical day to day activities that will foster quick learning and the building of work place competencies. I also urge such private business organizations to create a practical support environment for such students who are eager to learn by attaching them under mentoring systems within the organization and also facilitating the transportation costs of all such young individuals who are their volunteers or interns.

Finally this is an emergency period, in my humble opinion in which every Commissioner for Youth across the thirty six states of the Federation and the FCT, is expected to put on his or her thinking hat and begin to devise short term projects through which each State government can engage their fraction in the flood of undergraduates (who grow more restive by the day) in short term activities that will not only keep them busy but will build their knowledge and skills levels. Youth Idea Hubs, Skills and Entrepreneurial centres and walk-in facilities should gradually be planted (community by community) across the entire country which the average youth can access daily and experience a positive innovative culture. It is my further advice that both the Federal and State government agencies and parastatals should, at this time, recruit many of such Nigerian undergraduates as volunteers for as many short term government activities and projects as possible e.g. local government elections, trade fairs, sports tournaments, organized conferences, etc. Finally, whilst there is no gainsaying the fact that it is a challenging notion to be a Nigerian youth living in the country – I know because I am one such youth, it is equally a privilege of which i am most proud. Let ALL of us do what we can, amidst the challenges, to forge the most positive outcomes and discourage the worst.

INFORMATION ABOUT RELATED COMPANY MATTERS  

Hope you had a great weekend. It’s a start of a new week and we will be sharing how you can help take your Business to the next level by getting your Business registered with Corporate Affairs Commission (CAC).

Proper registration is one of the important things many small business owners neglect to their detriment. This is because a good number of them think it’s not important and some others who think it’s important assume it will be a very difficult task.

Why bother registering with CAC?

The importance of registering a business can never be over-emphasized.

For one, when it comes to doing serious business, many agencies will never take you serious if your company is not registered.

Secondly, you might have to discover that people and that includes you and I, feel more comfortable paying for services and products into a corporate account with the name of an organisation than paying into Individual account.You may have missed an important sale because when your prospect made up his mind to buy, the account number you sent him was an individual account in your name.He thought it too risky because it was a sizable amount involved.

People feel if the account is in a corporate name, the organization can be traced if the transaction went foul. If you register your company, you can use the documents to open a corporate account with less stress.

Moreover, if you have a business idea and you go ahead and register the business name, even if you spend 2 years perfecting the plan and raising the capital, for it, those 2 years from when the business was registered can count for you as years of experience.

In this post, you’ll be learning simple steps you can take to register your business name with the corporate affairs commission in less than 21 days.

A little about CAC:

The Corporate Affairs Commission (CAC) was established by the Companies and Allied matters act, which was promulgated in 1990 to regulate the formation and management of companies in Nigeria. The CAC is in charge of registering businesses in Nigeria. They have offices all over Nigeria and in the concluding part of this post, you’ll see the addresses of their offices in different locations in Nigeria, so finding the one nearest to you should be very simple.

Registering a Business name

If you want to register a business name, you can do it in 2 ways.

One is to engage the services of a lawyer and he will get it done for you with about N10,000. The trouble is that the next time you want to register another business name, you will have to pay him another N10,000

If you are a serial entrepreneur with many business ideas flowing in you, you will be spending too much money for this when you can actually spend less by understanding the information I am going to share with you here.

  The second way to get your business name registered is to do it yourself. Yes, you can walk into any branch of the corporate affairs commission and you will get your business registered.

The trouble with this is that if you do not know the secrets of going about it, you will spend months trying to get your business name registered. A friend of mine spent over 6 months trying to register his business name because he worked through an agent who really wasted his time and messed him up real bad. For the sake of clarity, This guide shows the process of how to get your business name registered and not a limited liability company or an NGO.

Getting started:

Once you are ready to register your business name with the corporate affairs commission, the first thing you should do is to go to their office nearest to you.

Walk in to the nearest branch to you and ask for name reservation form. It costs just Five Hundred Naira only. You will be given a receipt and a form. On the form, you will be asked to fill in a few details. Details like…

 Your Name

 Your Address

 Your Desired Business Names

 A Space To Fill The Type Of Business You Want to Register

(Choose Enterprises/Business Name)

You will be required to choose two business names. The reason is that if one is not available, they can reserve the other for you. If none of them is available, you will need to do it all over again. You will have to pay the N500 again and you will have to wait for the result.

How long does it take to reserve a name with CAC?

Sadly in this our dotcom age, when you ask for a name reservation, it takes about 2 weeks before the results are returned. It is sometimes as fast as one week or 10 days but it generally takes 2 weeks. Now imagine if your chosen business name is not available, you have to go through that 2 week process again. If the new one is not available as well, you have to go over the process… again… and… again. That is why it takes people a long time to sort out.

So How Will You Prevent That From Happening To You?

Good question! What you need to do is to choose a name no one else would have chosen. Now, you have to be creative and ingenious about it. If you choose just any name, I can assure you someone has registered it.

Don’t even think about registering names like these…

 Obyno Enterprises

 Prosperity Ventures

 Good Hope Enterprises

 Adamu Hassan Ventures

 Wealth Resources Consulting

If you choose names like these, then there is a high probability that they have already been taken by someone else and as an entrepreneur, you don’t have time to waste experimenting on new names at every 2 week interval.Having sorted out the name issue and having submitted your form, you will have to wait till the result comes out. There is nothing you can do about that. You just have to wait. All I’ll advise you to do is to get ready so when the results come out, you will be prepared to register immediately.

 What you need

Prepare

_ 2 passport photographs

_ Stapler (believe it or not, some CAC branches do not have)

_ The details of a partner (you cannot register alone, add someone…

anyone)

_ The partner’s photographs.

_ Your address (you can use your home address)

_ Telephone number (use GSM)

_ Local government area and a few other requirements.

Why be prepared ahead of time?

Majority of upstart entrepreneurs will fold their hands while the 2 weeks passes but I advise you to work while you wait. Start gathering the materials you need one by one. Why? You see, your name reservation is just for a number of days, you have to register properly before the grace period expires and someone else can take up that name. We want to get your business name registered in record time so we want to move faster than normal. When name reservation results come out, what people normally do is to start studying the new documents they are provided with to fill.If you prepare early, you will get your registration done once the results are out.

According to the CAC Website, Fees for some services include:

Registration of Business Name =N=10,000.00

Change of Name =N=2,000.00

Business Name Search =N=500.00.

Change of Partnership =N=1,000.00

Change of Address =N=1,000.00

Certified True Copy of a Business Name Certificate =N=1,000.00

Filing of Annual returns =N=300.00

Business Name Registration Form =N=250.00

In the concluding part of  this post, you will learn about:

• Objects allowed by CAC
• CAC offices in Nigeria

 Visit CAC Website (www.cac.gov.ng) for more details, this serves as a guide as shared by Edwin Ndubisi.

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