Nigeria Local Market, LAPO and other Micro Finance Banks

Micro Finance Banks in theoritical aspects are special banks set aside to help small business find their feets in the populated world of business. But coming to the practical aspect  especially here in Nigeria, it is like a trap waiting to catch a prey.

Lately, I have studied the trend in our Local market, by market here I mean commodity markets. It has come as a shock to most people that not all shops or stalls which are full to the brim are from the capital of the owner, most traders trade on debt which is fund by money borrow from Micro Finance like LAPO and the rest.

You will see many of our pepper sellers, food vendors and the likes running to these banks. You might be wondering why do they run to these banks? Well, these Micro Finance banks are easy to access unlike the normal banks where you need a collateral security, all a Micro Finance bank needs is a Gaurrantor or Surety they can hold  incase the borrowers makes away the loan.

But beneath it being easy to collect, is the difficulty in payment due to the high interest you have to pay either every 7days, 5days etc. 

Apart from this, refusal to pay is like shooting ones foot, Micro Finance Banks do not toy with their money. They go as far arresting defaulters and most trader are given restless and sleepless night.

Above all these, Micro Finance Banks have been doing a nice job, it could be that our traders do not understand you don’t take a loan to fund a celebration but for the main business.

A suggestion to Micro Finance banks is to create a monitoring team to ensure traders given loan use it for what they should as this will both help the banks and customers.

How many of this banks do you know, relate your experience.


Nine Reasons You Need a E-Invoicing System.

The World is evolving fast likewise likewise every sector of the economy.
For you to clicked on this link to read shows you have been attracted by what you saw as the headwords, my best shot is you are a Business Owner, Entrepreneur in the making or a lover of knowledge who wants to know.

Well, lets go to the discuss, Invoices as is popularly known is a written document which is written by a seller to the buyer showing clear description of the goods or services purchased. As we know Invoices in the past as moved away from the traditional system of scribing down of information about goods and services on a paper to electronic invoicing that is with few clicks on your electronic and internet enable gadget, you can send your invoice in a jiffy. While using an Electronic invoicing tool what is needed is the Buyer’s Email address or Phone number which will serve as recipient of the invoice.

Many Business do not take into cognisance how their invoices looks to customers but Do you know the way your invoice appears also attract prospective customers?
Therefore, if you want to attract your customers and prove to tell them that you a professional in your field  then you need to have a nice and neatly designed invoice which you will be proud to send out for the first time. Always Remember your invoice speaks a lot about your business.

Well, it has also been noticed that once things work out well and you begin to have a large base of customers, your number of invoices will also increase and you start feeling stressed out filling invoices.

Therefore, instead of following the traditional way of writing out an Invoice which can be  time consuming and error prone I encourage you to make use of an online Invoicing tool also known as Electronic Invoicing tool that will give you more time to relate with your customers, less tasking and has a low error rate.

Here are some Reasons why you need an online invoicing tools are:

1. Time Saving – like they do say “Time is the universal currency” a minute wasted cannot be regain not talk of hours. Now, with an online invoicing tool You can save up time which you have normally used to write invoices for other productive activities. Time is precious.

2. Professionally Styled – This is one of the many reason you need an invoicing tool because with an it your invoice can contain your logo, business description and even general terms and conditions without wasting time and also makes you look more professional.

3. Error rate is very low – yes, with an invoicing tool error rate is very low. Having had a little time in an accounting department of an organization, I can stay writing out an invoice is a difficult thing especially especially if there are other things to do, you will have to hurry up which can lead to making a lot mistakes but when you use an online invoicing tool the system is automated and there are little chances of making error.

4. There are Automated Reminders -online invoicing tool will  aid your invoice to be paid faster because you will be able to set up automated reminders unlike in the traditional system where you have to have a good memory of all unpaid past invoices, the question is how many people can do that perfectly when there are a lot of other things to do?

5. You Get access to your business finance – with an online invoicing tool you will be able to view your dashboard  which will enable you have more knowledge on your business’s finances.

6.  Easy to use and access – this is one of the best reasons because you wouldn’t have to carry your invoice notes all around since you can manage and send out your invoices from your tablet, laptop or smartphone 24/7. with this, you always on the go.

7. Your Information are very safe – you might be getting worried, are my information safe? Oh yes they are, all your information are saved on a safe location and also very secure.

8. Less expensive: Some people might be thinking “I like it already but it is going to be very expensive!” Well let me give you s shocker, setting up an invoicing tool will cost you less than 1000 naira  a month, yes I meant one thousand naira. It is not expensive at all.

9. Less paperwork – with an online invoicing too you are saved from too much paper work which normally would have let your office look bulky with papers littered here and there.

Above all, the world of business is transforming and you wouldn’t want to be left behind in the stone age, you have to embrace technology as it comes. Online invoicing tool is the latest key to preparing your invoice.

How Did We Get Here? E-Tribal War.

Nigeria has a country has been going through a lot of challenges at the moment, which no one is proud of.
Is it the trouble from Boko Haram in the North? or the Militancy in the East? or the kidnapping and “Badooing” (if there is any word like that in existence.) In the West?  No where in Nigeria can be described to be perfectly save.

Despite these challenges, the Nigerian online community seems to be building up another kind of war, which is hatred for another ethnic group. It has gotten to stage that political post online can’t be viewed without sentiments rather than with  a lucid mind and this has led to people giving different solutions which usually turn to online bashing.
Imagine a post on the Notorious Kidnapper Evans, some tribe moved for the motion that he be killed immediately, others were of the opinion of since he didn’t kill anyone he should be released.
Another issue is this bickering can be found on known websites and forums like Facebook, Nairaland  etc. The funny aspect is that these E-fighters have given each tribe a name, Yoruba are called Brown roof or Afoja, Igbo are called Flat heads or IPOB while the Hausa/Fulani seems to be the odd one in these E-clashes as it is usually rare to find the Hausas having an ethnic clash online.

This is a call on everyone especially sites owners, bloggers, site adminstrators to look at a way to stop this online division and hatred. We are still trying to bring “a dividing Nigeria” together offline please don’t add online division to it.

5 reasons you need a Bank Account.

Five Reasons you need to have an
Account with a bank..
It might interest you to know that
some Nigerians still do not have an
Account with any bank even as it is
now as easy as ABC to open an
Account with banks.. Here are the 5
reasons you need a bank account:
1. Safe keep: this has usually been
part of the definition of a bank, the
safest place to put those “life savings”
is a bank.Your money are safe not
just from thieves but from reckless
spending.If you put your money at
home you might be moved to take a
little from for no sane reason but
once it is at the bank you start having
this thought if it make sense to go
and withdraw the money for what
you want but you don’t need.
2. Increase in the habit of saving: do
you know having an Account with a
bank will boost your habit of savings?
You wouldn’t want to leave the
account empty even it is, it means you
don’t enjoy the service of the bank
where you are an Account holder but
you have an Account elsewhere
where the service suits you,In short
having a bank account will boost your
savings pattern which is good for
3. Easy transaction process: the bank
gives you easy means of transaction
without having to carry money
around and free of stress..example is
asking your bank to carry out a
standing order on your behalf this
means they pay on your behalf while
you face other pressing matters and
this can only be enjoyed by an
Account holder with the bank.
4. Statement of monthly spendings:
some people don’t know how they
spend money what they is know the
money comes and leaves.having an
Account with the bank will let you
know your monthly spendings and
incomes as the bank will always send
you a statement which you can use to
track how you spent your money and
this is possible if only you have a
bank account.
5. Investment purpose:if you put your
money in a bank it wi yield interest
even though it is not much it is
something you cannot get if you don’t
have a bank account ,therefore this is
a form of investment.

When your debt is more than your revenue.

When your debt is more than your revenue.

I have always wished to acquire in life but things i know would satisfy me and at the same time not run me of my money, most people live there lives to impress others and as such deep their hands into debt beyond what they can carry,some Nigerians are so badly informed that you start to hear words like ” even Nigeria is in debt,then who am I?” they use this statement as a proof that their act is right but is it really right ?
Mind you to the professionals reading this am taking this case from an individual view.
Why will your debt be more than your revenue?
The major reason is due to our act of extravagance,”oh yes I want to prove a point,I want to show the world I have got this money” your ego pushes you to fall into debt which leads to alot of debts then you start running from pillar to post seeking succour,some at this stage start having high blood pressure and before you know it something else happens.
But How do I overcome this act of careless spending?
Some people always have this urge to buy whatever they see even if it is not useful,once they have the money they will buy,some will not even have the money but will go ahead to buy on credit. To stop this careless buying you can follow this procedures:
1. When you go out especially to a market,write down the things you want to buy and their expected amounts.
2. Do a rough calculation of the exact money you need and just add a little amount to be on the safer side.
3. When the urge to buy what is not on your list comes,bring out your list and recite what you want to buy,in that process you have toyed with your brain and as such made it lose focus on its earlier thought by the time you will raise your head your mind will lead you to the exact location to buy what you are suppose to buy.
4. And finally have a record,yes record of your daily spendings this will help you monitor what you have and what you don’t.I have written something about this creating your record in the past,check my previous updates.

My Revelation.

This is my fourteenth year with Grandmother,I was placed in her care since only God knows when. Mama as i fondly called her would allow me do nothing all she wanted was for me to be by her side. At six i remembered playing with her sagged breast “Iya Eleko,you have spoilt Omokeyede” her friend seated with her said,Mama didn’t reply as she continue shelling melons while I played on with my new found toy.
Staying with Mama was fun until few months after my fourteenth birthday, Uncle John came to the village saying he was taking me to Lagos which Mama blatantly refused,I came out of my hiding and told uncle I wasn’t going either. He started complaining I was being over pampered and needed to be controlled before it gets out of hands,Mama stood up voicing out angrily,Uncle stood up too his voice loud and clear” Ever since the death of her mother you have refused me custody of my daughter,she even thinks I am her uncle,I want my child,we are leaving in three days time.”He said storming out.
Mama was quiet,I looked from her to Uncle getting into his car “What’s happening?why is uncle calling himself my father? but you said my father died a long time ago!” I asked. Mama drew me near “He is your father”she said. She explained how mother died during delivery,how father had gone ahead to marry another woman whom she thought would maltreat me. The uncle that always come home every three months buying things for me was my father, so it was a charage all these while,I jerked away from her “Mama,why did you lie to me?” I screamed as i ran to the backyard then into the bush to find solace,I heard Mama screaming my name

My Christmas Carol Experience

My Christmas carol Experience..

I was clothed in red and white
swaying here and there in my shoes
dancing to the various Christmas
songs.I was showcasing my dexterity
in various dancing steps when I
stepped on an old woman,i look back
to apologies and saw those eyes
through those big and ancient
spectacles staring at me,if eyes could
emit bullets i would have been shot
dead instanta,”i am sorry ma” i said
under my breath as i moved forward
to dance my sorrow away, “children
of nowadays!” i heard her say to
another older woman sitting by her
i was still displaying a move with my
peers when one of my favourite song
was sang i forgot i was in the house of
the Lord and was Carried away by the
euphoria and didn’t know when i
jump to the front and started
displaying worldly dance step before
the pastor,mind you i never knew he
was the one ,what i noticed at first was
my peers stopped dancing and
started looking at me from afar then i
noticed the song was stopped then
the musical instruments came to a
halt,then sense dawn on me i had pull
off my shirt and was dancing like a
gangster,i looked at everyone then my
eyes met the eyes of the old woman i
stepped on ,she murmured the word
again “children of nowadays” before i
could say “Jesus” i was surrounded by
prayer warriors “Every evil spirit in
your life….” they started praying while
i looked on amazed.what was meant
to be a Christmas carol had
metamorphosised into a Christmas
prayer session. i stared with my eyes
open as i was rounded up by the
mob of prayer warriors,soon it was all
over but i was drag to a new seat near
the grand ma in big glasses as my
friends giggle at the back about my
suppose evil spirit encounter ,i was
gentle all through the carol services
and i stood still, singing with my
crooked voice,then it was time for
Christmas wishes, i was called forward
to make my Christmas wishes,i took
hold of the Mic ,with the anxiety in me
i started thus “i want to wish
everybody a happy Christmas and a
merry new year” i committed the
greatest blunder of the century,my
peers burst into laughter while older
people shook their heads in shame,i
went ahead to complete my line with
“I wished you a prospective new year”
the old woman with big glasses spoke
out again “children of nowadays”
before i could say Jack the pastor and
the prayer warriors had rallied round
me again,”the evil spirit is still there”
the pastor screamed..
Christmas carol turn Christmas prayer
(Fiction )
merry Christmas and a prosperous
new year….2017 year of wonders.

Open Letter to the Minister for works and the Governor of Ogun State.

It is stated that one of the ways we can get in touch with government is the social media which I decided to use to pass this message across to you. I will like to appreciate the Minister of Works,Mr Raji Fashola for his hardwork in the Ministries he serves,you have always being loved by the masses due to your past achievements. I also appreciate you, Senator Ibikunle Amosun for your good work in Ogun State though this is not my first of writing you and i saw the adjustment few days after I wrote to you. I really commend you sirs.

The purpose of this letter is to make known to you the state of the Lagos Abeokuta road especially from Toll Gate to Sango Ota, the road is so bad a journey of few minutes can be elongated to hours which hinders the flow of movement on this road, Honourable Minister I know the road is a federal road and is not to be left like that because it is the road that links Lagos to Ogun State and I know you are after development,repairing that road will develop a lot because time meant for productive activities are wasted there,lives get lost due to accidents,vehicles get damaged,the worst part is when there is rain one would feel like crying, I am pleading to you Honourable Minister to come to the rescue of the masses that use that road before it totally get out of hand,it will be an achievement the people of Ogun and Lagos will never forget, you can send your staff to inspect the place,I will be expecting a speedy repair of the road.
Governor Ibikunle Amosun, I know you are a caring Governor,I am pleading with you as well to work hand-in-hand with the federal government to get this road done, we want Ogun to be great too which I know his part of your dream.
Thank you as you amend the road.

From A Concerned Nigeria.