BU$IN£$$ DIG£$T for today 11/10/2014

On BU$IN£$$ DIG£$T this morning:
The Holy Writ says, it is with understanding a wise woman builds her home……
It also says in another portion that in all your getting, get understanding…..now hear this
UNDERSTANDING makes you OUTSTANDING in business.
It is not enough to know, but with understanding you will be able to navigate the troubled terrain of business to a harbour which is success.
I…t struck me so hard recently, that a woman/wife/mother is an Entrepreneur as she manages to succeed in her home with the resources at her disposal….Think about it

Yours-in-Entrepreneurship
Emmanuel Idenyi Shaibu Esq
The Millennium Entrepreneur
Twitter handle @EIdenyi
Like and read our fan page: www.facebook.com/emmabglobalconcept
Blog www.idenyi1.wordpress.com
Our website www.emmabglobalconcept.org under construction is almost live and it’s just for you….

Nigeria Pension Reform Act (PRA) 2014

 

Subject: Highlights of the Pension Reform Act (PRA) 2014

Dear all,

On 01 July 2014, the President signed the Pension Reform Act (PRA) 2014 into law and this repeals the Pension Reform Act 2004. The new Act will continue to govern and regu…late the administration of the Contributory Pension Scheme for both the public and private sectors in Nigeria.

5 notable highlights of the Act that impacts a Retirement Savings Account holder

Upward review of the minimum rate of contribution
Section 4 (1) of the new Act reviewed upwards, the minimum rate of pension contribution from 15% to 18% of monthly emoluments, where 8% will be contributed by employee and 10% by the employer. This will provide additional benefits to employees thereby enhancing their pension benefits at retirement.

Access to contributions before age 50
The Act in section 7 (2) now allows an individual who voluntarily retires, resigns or is disengaged from employment access to 25% of his/her retirement savings account (RSA) balance if he/she is unable to secure another job within a period of 4 months. This is different from what was obtainable under the PRA 2004 where only individuals who were involuntarily disengaged from employment were entitled to access 25% benefits after remaining unemployed for 6 months.

Tax on Voluntary contribution withdrawals
Withdrawal of voluntary contributions (VC) within 5 years from the date the contributions were made is still subject to tax. However, as clarified in section 10 (4), only the income earned on the VC will be subject to tax at the point of withdrawal.
VC that is withdrawn after 5 years from the date the contribution was made will still be tax free.

Access to Mortgage
Section 89 (2) of the Act provides that a Pension Fund Administrator (PFA) may subject to guidelines issued by the National Pension Commission, apply a percentage of the pension assets in a Retirement Savings Account (RSA) towards the payment of equity contribution for a residential mortgage by a RSA holder.
We however await the issuance of guidelines for implementation of this provision from the Commission.

Punishment for defaulting employers
Section 11 (6) of the Act provides that an employer who fails to deduct or remit the contributions of its employees within 7 working days from the date salary is paid, in addition to making the remittance already due, will be liable to a penalty to be stipulated by the Commission.

Furthermore, Section 105 (1& 2) on offences under the Act empowers the National Pension Commission (PenCom), subject to the fiat of the Attorney General of the Federation (AGF), to institute criminal proceedings against employers who persistently fail to deduct and/or remit pension contributions of their employees.
For more information about the PRA 2014, kindly visit www.pencom.gov.ng

 

DECISION TIME FOR SOUTH-WEST by Wel Sight Asika

EBOLA VIRUS-BE GUIDED ACCORDINGLY

This was forwarded to me, I’ve no certain proof but I guess it’s good to be cautious. Also the Minister of Health in Nigeria has also requested that we all be cautious

‘The First case of the Ebola virus has been reported in Ghana.The carrier of this are Chimpanzee, Monkeys and Bats. It is therefore safe to assume this virus is in Nigeria, knowing how frequently our people travel back and forth to and from Ghana. More importantly, the strain has similarities with other virus initially thus it might not be recognized early enough. Please take the following precautions:
(1) wash your hands frequently.(2) get a hand sanitizer for people to use in your office and homes. And let them know why.
(3) get one for your kids to use in school frequently, and if possible, one for their class, let them know why.
(4) be careful with hand railings, doors and other utilities used by the public.
(5) avoid bush meat or meat of which you are not sure of its source.
Lastly, watch out for people with flu like symptoms such as fever and malaria.Pls note that it has NO CURE. Prevention is BETTER and CHEAPER than cure

Zion High International School, Jos

With just a phone call you call pick up your application form and start preparing your ward for the entrance exams on the 19th of April 2014. You surely will be glad you did. Call now 08033344414

#ZHIEducation

Zion High International School, Jos

If you are a PARENT, or you are a friend to a parent, you need to CALL this NUMBER now: 08032405216

ASK them about the EDUCATIONAL NEEDS of your CHILDREN: 1. Daycare 2. Nursery 3. Primary 4. Secondary.

They have SOMETHING SPECIAL happening on the 19th April 2014. Its their ENTRANCE EXAMS

Zion High International School, New Juth Road, Rayfield, Jos…Getting it RIGHT educationally.

Daily BU$IN£$$ DIG£$T

On BU$IN£$$ DIG£$T this morning,
Know what your competitor is up to; many of your outsourced service providers like Lawyers, Bankers, Accountants, Brokers, Insurance Agents, etc. also cater for your competitors. Although these professionals will not break confidence, they will share timely and relevant intelligence so try to engage them more frequently. I have always advice that in marketing, never ever down play your competitor or talk about their weaknesses, emphasize on your own strength and what you can offer better and not what your competitor cannot do. The customer will sort it out by the quality of service you are rendering, that way you haven’t breached promotional ethics.
Yours sincerely,
Emmanuel Idenyi-Shaibu Esq.
The Millennium Entrepreneur
…never ever believe in microwave success.
Follow @EIdenyi

Zion High International School, Jos

Learning Tips:

OBSERVATIONAL learning:
Children Are Good Observers!

A tremendous amount of learning happens through this process of watching and imitating others. In psychology, this is known as OBSERVATIONAL LEARNING.

Observational learning is sometimes also referred to as shaping, modeling, and vicarious reinforcement. While it can take place at any point in life, it tends to be the most common during childhood as children learn from the authority figures and peers in their lives.

Therefore, as parents, guardians, brothers, sisters, teachers, etc what we DISPLAY before this children are SHAPING their lives. We must become EXCELLENT EXAMPLES/MODELS they can learn from.

Have a great day!

Sponsored by Zion High International Schools, Jos, Plateau State.

Call 08033344414 for more on the EDUCATION NEEDS of your CHILDREN.
Entrance Interview, 19th April 2014.
#ZHIEducation

On BU$IN£$$ DIG£$T this week, we shall continue on more about “Being in the know” in the world of business today. This brings to my mind the first definition of marketing I came across in 1994, which was a summary of how Philip Kotler and Garry Armstrong defines marketing. I will not fail to give kudos to my teacher through whom I learnt this definition and it has stock up till now, Mr O.Y. Salami defined marketing as “all those activities that are directed towards converting the purchasing power in the hands of the ultimate consumer into an effective demand for a firm’ product and at a profit”
Simply put, your business must seek to add value first before talking about monetary gains.
I tell you if value is being seen to be added and actually added, people will be willing to pay any amount for that service. Therefore for any business in 2014 and beyond, seek to go beyond the ordinary, to deliver the perceived impossible, in the quest for excellence. In the course of the week we shall expatiate more on this and many more….

from the point of business startup, you need to have identified “What’s Important” to you and imbibe the culture of always be the first to have new information. Aside from reading/listening to the news, you must subscribe to Articles that write about your chosen industry and also articles that analyse the changes in the economy as a whole to assess the impact on your business..

by understanding a product’s or service’s purpose and why consumers use it, business owners can speed-up every aspect of their learning and marketing. Conducting continuous survey and analysing feed-backs on your product or service offering to make improvements to suit your customers’ ever changing wants and needs will greatly keep your business ahead of others.
I remain yours sincerely, the Millennium Entrepreneur who never ever believes in microwave success,

Emmanuel Idenyi-Shaibu Esq.

twitter handle @EIdenyi

Daily BU$IN£$$ DIG£$T 10-4-2014

On BU$IN£$$ DIG£$T this morning,
Know what your competitor is up to; many of your outsourced service providers like Lawyers, Bankers, Accountants, Brokers, Insurance Agents, etc. also cater for your competitors. Although these professionals will not break confidence, they will share timely and relevant intelligence so try to engage them more frequently. I have always advice that in marketing, never ever down play your competitor or talk about their weaknesses, emphasize on your own strength and what you can offer better and not what your competitor cannot do. The customer will sort it out by the quality of service you are rendering, that way you haven’t breached promotional ethics.
Yours sincerely,
Emmanuel Idenyi-Shaibu Esq.
The Millennium Entrepreneur
…never ever believe in microwave success.