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Capital Market Operations in Nigeria; who is the watchdog in Nigeria? To view full forum page, please click here
The case of failed banks raising funds through the capital market, the unfortunate incident with Cadbury and more recently, the collapse of the wonder banks in Nigeria all point to the fact that there is little or no protection for the vulnerable investor who is attracted by the promise of high yield on these investments. Is our Corporate Governance Code weak? Is the sector well regulated?
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Name: Toyin Olaleye
Teeto Limited- 10,Eloseh Street, Off Agboyin Street, Surulere, Lagos
I am in the bakery business, I make cakes, cookies and bread, I supply my products to major supermarkets around Lagos. Prior to the workshop some aspects of my business were not transparent to members of my staff. I have a mixture that was known to me only, this affected my business because when I am not in the office, my staff are not able to go ahead with the business. I had a lot of accounting materials that were not sorted properly and this affected my business a great deal.
The session on accountability, transparency and systems. People management has been a major challenge to me. Prior to the workshop, I didn’t have a proper system for managing my staff. The lessons learnt at the workshop made me realize that I had to do away with some of my staff who did not share my values. I sacked some misfits in my business and employed more hands whom I believe share my values. However, in applying the lessons I learnt at the workshop, I have been able to employ someone whom I revealed the mixture for my baking and who can hold fort for me when I am not in the office. This has been a big relief to me.
My business deals are more open especially as it concerns my mixtures. I have a member of my staff who I have shown the mixture and who can handle the business when I am not available. I have purchased a computer system that assists me in tracing all my costs, I have comprehensive records that shows all my accounting expenses on periodic basis.
If I am able to implement all the lessons that I learnt at the workshop, then I would have a business that can outlive me. I want a business I can pass on to my children and grandchildren.
This is one of the best workshops that I have attended. It has a direct impact to the way
My business operates. The facilitator made sure that the contents were applicable to our
Businesses by giving real situation illustrations.
The facilitator did a good job considering also the contents of the Toolkit. I would gladly recommend this workshop to anyone and I am available for future workshops.
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Name: Zainab Abdulaziz, Zaiba Café
National Assembly complex
I started my business in 1999. At that time, I had just been through a traumatic experience and I needed something to keep me occupied as well as get an income. I started with selling Zobo drink. However, by the end of year 2006, I had secured a space in the premises of National Assembly where I operate my restaurant.
The session on accountability and transparency. Making sure that you keep proper accounts and making sure that members of your staff are open to dealings in the business. At the moment, I account for every money that I spend on the business. I have a manager/accountant who helps to check to see that that I comply with the business accounts by keeping all receipts, invoices and other relevant documents.
Attending the workshop for me was quite timely because it came at a time that I just started my restaurant business. I needed to do things differently, especially as quite a number of restaurants already operate in the premises. I have introduced some new dishes to my customers, there is a touch of Nigerian dishes. I prepare some tribal dishes and advertise to my customers which particular day of the week they can get their own tribal meals. I started by selling only 8cups, but now I cook a bag of rice a week. This has led to an increase in my customers and it has grown my business.
I have been able to introduce some new menu to my customers and they keep coming to learn from me, this has given me the idea to open a catering school so as to pass the knowledge to them. Already, I have a friend who operates a school, so I would just partner with her to open a catering side to it. Eventually, I would open my own catering school.
At first glance, it appears that you would have to be literate to a certain level to understand the language used. However, I shared the Toolkit with my husband and we looked at it together, it then became simpler and the issues became real, it now became easier to implement it in my business.
I would gladly recommend this workshop to anyone especially the SMEs so that they build up a structure that ensures that their business will be run ethically
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Name: Mr. Dipo Davies
Real House Communications- 50/52.Toyin Street, Ikeja, Lagos
Publishers of Castles Magazine
I run a publishing company. We are publishers of the renowned property magazine called “Castles”. We started quite small with printing magazines in some cities.
My Business is expanding and growing rapidly. We are gradually moving out of the SME industry.
We intend to extend our reach to all the cities of the country., where everyone can have access to our magazine.
Though, I would need to take some time to study the Toolkit again, at first glance, it appears cumbersome and the stages for joining CBi seems rigorous.
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Yes, I would. The facilitator is a good speaker.
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Office: 5th Floor, SIO Towers, 25 Boyle Street, Onikan, Lagos, Nigeria. Telephone: (+234 1) 473 8689 , 791 5712
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Copyright 2007 The Convention on Business Integrity |
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