by Admin | Sep 23, 2016 | Blog |
Follow @NigeriaPI Experts say companies with inexperienced managers often perform below expectation because they are unable to use good business strategies. They also point out that a proper understanding of business management techniques will prevent premature failure of start-ups. According to them, goal-setting and other fundamental business management skills can assist in decision making. They add that not all business management skills can be acquired in the classroom because most are learnt on the job. In order to build a sustainable business, there are management techniques that are indispensable. Monitor and measure performance Every business manager must make it a habit to monitor cash flow, especially when large amounts are involved. Though not all managers are accountants, they need to have a basic knowledge of accounting in order to identify loopholes. A business consultant, Mr. Caleb Makinde, suggests regular audits of a company’s finances and comparing them to the past financial statements in order to predict future expenses, revenue and cash flow. “In other departments as well, all employees’ performance should be benchmarked and incentives such as training can be provided where there are knowledge gaps,” he adds. Employ professionals for important tasks Business owner- managers often do not have all the skills needed for business operations, as such, they need people who have a track record of experience to work with them. Makinde says sometimes it is advisable to outsource some tasks that are crucial to the success of the business. He adds that it is important for experts in the areas of tax planning, procurement, quality control, accounting among others to work with budding entrepreneurs. Manage your...
by Admin | Sep 23, 2016 | Blog |
Follow @NigeriaPI A former Governor of Adamawa state, Mr. James Bala Ngilari, was on Thursday granted bail by Justice Nathan Musa of the Adamawa State High Court, Yola, in the sum of N1m and a surety with a property in Yola who must provide a court affidavit of means to that effect. Ngilari was remanded in the Economic and Financial Crimes Commission custody on September 21 following his arraignment on 19 charges bordering on alleged rigging of procurement process in the award of contract worth N167m. The court has adjourned till October 10 for commencement of trial. Ngilari is being tried alongside his former Secretary to State Government and his Commissioner for Finance and Budget, Ibrahim Welye and Sanda Lamurde respectively. Ngilari is the third former governor of Adamawa State to be charged for fraud after two former governors of the state, Murtala Nyako and Umaru Fintiri, who have been arraigned by the EFCC for alleged fraud. The EFCC had charged Ngilari for violation of procurement laws in the award of contract of N167m to one El-Yadi Motors Limited for supply of 24 units of Toyota Corolla vehicles. Source:...
by Admin | Sep 23, 2016 | Blog |
Follow @NigeriaPI The Benue State Universal Basic Education Board, under the chairmanship of Dr. Philip Tachin, has allegedly awarded contracts worth N7bn without due process. Investigation by our correspondent revealed that the board chairman, in conjunction with key officials of the board, had awarded the multi-million naira contracts to cronies and friends without going through tenders and due process. It was also gathered that in the last three months, they hurriedly awarded contracts worth the amount mainly to politicians, their friends and associates without going through the necessary processes. According to investigations, it was alleged that in the awards of these contracts, 70 per cent was paid upfront while 30 per cent was for kick-back after the projects had been inflated above the norm. “Though they are doing everything possible to cover the illegal and shady deal but many people who are aware of what is going on are not happy with the whole deal. This is despite the zero tolerance of Governor Ortom-led administration for corruption”, a source said. Another source said the whole thing was being covered. He said, “They are doing everything secretly so that the governor may not know because if he knows, they are in big trouble.” Meanwhile, two cashiers of the SUBEB, Paul Mella (Cashier 2) and Jacob Agera (Cashier 1) have been arrested by the Special Fraud Unit of the Nigeria Police Force, Abuja, for hoarding financial information concerning the board. When contacted, the SUBEB Chairman, Tachin, said the two financial officers of the board were actually arrested and taken to Abuja for questioning. He said, “The police officers from Abuja came...
by Admin | Sep 22, 2016 | Blog |
Follow @NigeriaPI The Delta State Police Command has nabbed suspected child traffickers of a seven-year-old boy who was reported missing since September 6, 2016. The kidnapped boy, Moses Ijoba, was said to reside in Okpanam, a community close to the State’s capital, Asaba, where various cases of child theft had been reported severally. According to Moses’ younger sister, he was lured by an unknown lady who pleaded with him to help her run some errands. The Delta State Police Command confirmed that it had arrested one Abigail Nwakama, also known by the syndicate as ‘Madam Cash’ as well as nine other members, in connection with child trafficking in the area. Parading suspects at the command’s headquarters in Asaba, the police said most of the suspects have admitted to the crime which in turn led to the recovery of about 12 children. The parents of the children have been asked to contact the police for immediate identification of their children. Among other reported cases where the arrest of one Chukwuma Ijoema who allegedly raped and killed one Blessing Ogammer, who prior to her death, was also reported missing. Suspected cultists, robbers, murderers and kidnappers were caught and paraded alongside recovered items – riffles, locally made guns, ammunition, cartridges and phones. The police have intensified efforts to achieve peace and order at all times in the state and re-unite seven-year old Moses, who was still declared missing, with his...
by Admin | Sep 22, 2016 | Blog |
Follow @NigeriaPI The Lagos State High presided over by Justice Kudirat Jose on 21 September, 2016 convicted and sentenced one Michael Ugochukwu to five years imprisonment on a one count charge of stealing to the tune of N10,500,000 (Ten Million, Five Hundred Thousand Naira Only) property of Patrick Ekeh. The convict was arraigned by the EFCC in early 2014 following investigation of a petition by one Patrick Ekeh who alleged that he imported a total of twenty eight vehicles for the convict from the United States of America sometime in January 2010 through the Lagos port. It was later discovered in April 2010 when the audit of the vehicles inventory was conducted that all the twenty eight vehicles were sold with the exception of one. But when confronted, the convict told the complainant that there were still five vehicles left to be sold whose total cost was N10,500,000. The petitioner did all he could to get his money but Michael refused to pay him which compelled him to report the matter to EFCC. Upon arraignment, Ugochukwu pleaded not guilty and full trial was conducted in which the prosecution led by Chidinma Anita called four witnesses. At the end of trial, the court found the accused guilty as charged and convicted him accordingly. Justice Jose sentenced the convict to five years imprisonment without option of fine. She also ordered that restitution of the stolen sum be made by the convict. Source:...
Recent Comments