It was earlier noted by the prospective students of Abubakar Tafawa Balewa University (ATBU), Bauchi that some courses offered by the university are not accessible by them on the JAMB website. This was followed up by the University Management and was found that these courses are erroneously omitted by JAMB. Meanwhile all the affected courses are NOW FULLY AVAILABLE ON JAMB WEBSITE. The affected courses which are now fully available among other courses offered by the University are:

1. Agricultural Economics and Extension
2. Animal Production
3. Crop Production
4. Applied Botany
5. Applied Ecology
6. Applied Zoology
7. Estate Management and Valuation
8. Business Management
9. Accounting Technology
10. Banking and Finance
11. Agricultural Education
12. Business Education
13. Library and Information Science.
Long Live ATBU.

Phase II Complex of the Faculty of Management Sciences, Abubakar Tafawa Balewa University, Bauchi is a place to learn with state of the heart academic facilities. These are just some of the exclusive pictures of the Building. Long live Faculty of Management Sciences, Long live ATBU.

An Assessment of E-Payment Infrastructures towards an Efficient Cashless Policy in Nigeria


Department of Accounting & Finance
Faculty of Management Sciences
AbubakarTafawaBalewa University, Bauchi
08077223399, 08032495760

It is obvious that our dear country, Nigeria is presently experiencing nothing less than galloping inflation as confirmed by scholars and especially the economists. Prices of commodities and services have skyrocketed than our expectations. The citizens are suffering, lamenting and thereby clamouring for government economic and financial interventions to ease the state of the economy. But it is good to know that the problem can hardly be solved totally by financial intervention from the government but rather our active involvement in the production of goods and services within the country, which improves our Balance of Payment vis-a-vis economic growth and development. The major cause of the situation is largely related to the forces of demand and supply among other factors.

The nation produces little in the country and largely depends on foreign products and even services like health care, education, tourism among others. The more we get goods and services from foreign country, the more we demand for foreign currency, and the more we demand for such, forces of demand and supply set in as a result of law of demand and supply, which improves the rate of exchange for the foreign currency and reduces ours which is hardly demanded for.

In a nutshell our major problem lies on our inability to produce adequate goods and services needed by the residents within the country let alone exporting such to other country which determines our Gross Domestic Product (GDP) and will also boost our Balance of Payment. And for this to be improved the nation needs to develop its entrepreneurship mindset.

Entrepreneurship is a process of discovering, assessing and exploitation of opportunities, most especially related to new products, services, production processes, new strategies among others, but which did not previously exist (Shane and Venkataraman, 2000). Entrepreneurship is as well defined by Okpara (2000) as the willingness and ability of an individual to seek out investment opportunities in an environment and be able to establish and run an enterprise successfully based on the identifiable opportunities. Bolton and Thompson (2000) also defined an entrepreneur as “a person who habitually creates and innovates to build something of recognized value around perceived opportunities”. Therefore, Entrepreneurship is a process of undertaking a business which is innovative in nature.

Base on their attitude to business, there are three major types of entrepreneurs. They are:
1.      Innovative
2.      Imitative
3.      Drone
Innovative: These are types of entrepreneurs that start a business of their own, which its type has never been in existence before. They so much invest in research and development in order to come up with new ideas and develop the market.

Imitative:These are the entrepreneurs that focus on improvement of an existing product and services. These people imitate but improve other peoples’ idea and make it better for others consumption.

Drone: These are entrepreneurs that have phobia for change. They though come up with idea but believe in an old way of doing things.

1.      Innovative
2.      Creative
3.      Risk Taker
4.      Start little
5.      Persuasive
6.      Passion
7.      Perseverance
8.      Be a shameless promoter


There are three main types of business entity:
1.      a sole proprietorship;
2.      a business partnership;
3.      a company (a limited liability company).

Sole Proprietorship
The business of a sole trader is owned and managed by one person. Any individual, who sets up a business of his/her own, without creating a company, though may register a business name, is a sole trader/ proprietor.
A business partnership is an entity in which two or more individuals (partners) share the ownership of a business. Each partner contributes funds (‘capital’) to set up the business.
Company (Limited Liability Company)
A company is a special form of business entity. Nearly all companies in business are limited liability companies with liability limited by shares while others could be limited by guarantee or unlimited company.
(a) Company limited by shares: This is a company having the liability of its members limited to the amount (if any), unpaid on the shares respectively held by them.
(b) Company limited by guarantee: This is a company without a share capital. It is a not-for-profit company where the liability of its members is limited to such amount as the members respectively undertook to contribute to the assets of the company in the event of it being wound up. Due to the tax exemption and other benefits granted to this type of company, the Consent of the Attorney General of the Federation is required for the registration.
(c) Unlimited Company: This is a company where the members’ liability is not limited to any particular amount.
PrivateVsPublic company
Each of these primary types of companies may be a private or a public company. A private company is one, which places restriction on transfer of shares by members, and limits its membership to 50 persons. It is also prohibited from inviting the public for subscription to its shares or debentures. On the other hand, a public company has no such restrictions as its shares can be freely traded on.
Registration of Business Names
Business name registration is done by the Corporate Affairs Commission (CAC) in respective states of the federation. The procedure for the registration of a Business Name for use by a "sole proprietor" or "partnership/firm" essentially involves three major steps, which are:
1.      Search for availability of name
2.      Submission of duly completed statutory forms with two passport sized photographs of each applicant attached to the form.
3.      Payment of filing fees of the Corporate Affairs Commission (CAC)
Some documents items are so important while filling the form and must accompany the form for submission. These include:
1.      reservation of Name Form with the proposed name(s)
  1. inclusion of the general nature of the business or proposed activities;
  2. the full address of the principal place of business and every other subsidiary place of business;
  3. the owners forenames and surnames, nationality, age, sex, occupation and usual residential address of each of the individuals who are the intending partners, and the corporate name and registered office of such corporation which is an intending partner as the case might be;
  4. the proposed date of commencement of the business or activities;
  5. Passport size photographs of the owners.
  6. Certificates of professional qualification where the business is of a professional nature.
  7. Where one of the partners is a non-Nigerian and intends to work in Nigeria, evidence of his immigration status.
Reservation of Name
The law allows the promoters of a new enterprise to apply to it to determine whether or not the proposed name is available for use, and if so to reserve it for a period of sixty days.
Minimum Share Capital Requirements & Disclosures
The minimum share capital required of a private company is N10,000, and for a public company, it is N500,000. This requirement seems inadequate with the value of the naira having changed drastically between 1990 (when the law was made) and today.
Registering a Company: Basic Requirements
In registering a company the following should be delivered to the Corporate Affairs Commission: -
  • Availability/Reservation of Name Form
  • Memorandum & Articles of Association duly stamped by the Commissioner for Stamp Duties, and duly subscribed to by at least two Nigerians or persons of foreign nationalities who have been granted Business Permit. However, in the absence of a Business Permit a foreign investor could authorize a Nigerian citizen or organization by means of a Power of Attorney to subscribe on its behalf pending the grant of a Business Permit;
  • Copy of Business Permit if the subscribers are of foreign nationalities;
  • Duly completed Form CAC 2.2/C.O.6 (showing the address of the company)
  • Duly completed Form CAC 2.3/C.O.7 (showing the first directors as well as Consent Letters to act as a director, duly signed by each individual director).
  • A Statement of the Authorised Share Capital, on the prescribed Form CAC 2.4 and duly stamped by the Commissioner for Stamp Duties;
  • Duly completed Form CAC 2.5/C.O.2 (showing the Share Allotments);
  • A Statutory Declaration of Compliance by a Nigerian legal practitioner engaged in the formation of the company;
  • Bank drafts for the amounts for CAC Filing fees, and stamp duties.
The CAC shall register the Memorandum and Articles of Association, unless in the opinion:
  • they do not comply with the provisions of the Companies Act; or
  • the business which the company is to carry on, or the objects for which it is formed, or any of them, are illegal; or
  • any of the subscribers to the Memorandum and Articles is incompetent or disqualified; or
  • there is a non-compliance with the requirements of any other law relating to the registration and incorporation of companies; or
  • the proposed name conflicts with or is likely to conflict with an existing trade mark or business name registered in Nigeria.
Usually, this process could take between 2 weeks to 4 weeks from filing all the requisite documents to obtaining the certificate of incorporation
Fees and Charges by CAC for Registering Business Name
1.      Reservation of Name                                                  N500
2.      Registration of Business name                        N10,000
3.      Filing of notice of change of business name   N5,000
4.      Filing of notice of change of business address       N1,000
5.      Filing of notice of change in proprietorship    N1,000
6.      Filing of Annual return                                   N1,000

Fees and Charges by CAC for Registering a Company
1.      Reservation of Name                                                                                                  N500
2.      Registration of Private Company with share capital of N1m or less;             N10,000
3.      Registration of Private Company/increase in share capital above N1m – N500m;  N5,000 for every N1m share capital or part thereof
4.      Registration of Private Company/increase in share capital above N500m;              N7,500 for every N1m share capital or part thereof
5.      Registration of Public Company/increase in share capital;                             N20,000 for the first N1m share capital or part thereof
6.      Registration of Public Company/increase in share capital above N1m – N500m;  N10,000 for every N1m share capital or part thereof
7.      Registration of Public Company/increase in share capital above N500m;              N15,000 for every N1m share capital or part thereof
8.      Registration of a company not having a share capital                        N20,000

My dear brothers and sisters, it will be best of us to identify our talents, develop these talents in form of skill acquisitions and entrepreneurship development, package the talent and start business of any kind to enhance self-reliance to develop our dear country, Nigeria. By God’s grace, together we shall be great.

ibroprofessor is a blog that focus on mentoring youth on leadership skill, self-reliance, entrepreneurship and self-development. The idea of the blog (ibroprofessor) was as a result of the need for our youth (male and female) not to only rely on ‘certificate’ but knowledge and skill acquisition. There might not be job opportunities but there are untapped potentials in the economy that needs to be utilized by the youth.
The blog will be providing information, news and ideas among others in order to achieve its targeted objectives of ensuring leadership skill, self-reliance, entrepreneurship and self-development among the youth. This is done by:
1.     Bridging information gap on leadership skill, self-reliance, entrepreneurship and self-development
2.     Showcasing entrepreneurs and leaders that could motivate people (especially the youth)
3.     Creating forum that would allow sharing of experience
4.     Building Hub of professionals that are ready to train and educate others (especially youth) selflesslys
5.     Provide any relevant information and news that would be useful to the youth and the blog’s fan
The blog is established by Shittu Oladipupo Ibrahim who hails from Lagos Island Local Government of Lagos State. He had his primary and secondary education at Expressway Primary School Ketu, and Ikosi High School Ketu, Lagos respectively. He obtained a Diploma in Computer Technology (DCT)from Obafemi Awolowo University, Ile-Ife, Osun State as well as National Diploma in Accountancy from Federal Polytechnic, Ede also in Osun State. His quest for knowledge, unity and cultural diversity takes him to Abubakar Tafawa Balewa University, Bauchi where he obtained his first degree and MSc. in Banking and Finance with ‘First Class’ and ‘Distinction’ respectively. He is presently a Lecturer with the Department of Accounting and Finance, Faculty of Management Sciences, Abubakar Tafawa Balewa University, Bauchi.

Contact: +2348077223399, +2348032495760

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