This article discusses consistency in the omnichannel experience. The Importance of Consistency in the Omnichannel Experience As users move from channel to channel to complete a specific task or many different tasks over time, they are exposed to various channel experiences. These channel experiences are influenced by elements such as visual design, content, tone of voice, and functionality.
In developing countries, the advancement of SMES have been greatly constrained by the non advancement of the economies in these countries and the inability of their Banking sector s to extend medium and long term credit facilities to the SMES.
There is also to this writer the legal question of whether the conditions presently put in place by the Banks and the Bankers Committee to assist the SMES with credit is sufficiently covered by the Law?
An attempt will also be made to proffer some suggestions, both legal and practical, on the way forward.
The SMES must be a registered limited liability company that have complied with all corporate and tax laws in Nigeria. The SME must have a minimum staff strength of 10 ten employees and a maximum of three hundred employees.
The ownership structure of the SME will be diluted to the extent of the Bank's investment in the SME with the Bank also having the power to appoint at least one person to an executive director position. The Bank is expected, from the guidelines, to exit from the SME investment after three 3 years.
In return and as incentives for this investment, the following tax reforms and incentives have been proposed: Five 5 years tax holiday to the SMES.
Of interest also will be Section of CAMA, which empowers any aggrieved shareholder to apply for an order from the Federal High Court in the form of an injunction restraining his company from: Entering into any transaction which is illegal or ultra vires the objects with which the company was incorporated.
Restraining the taking of actions which requires a special resolution to be passed by the company. Committing fraud on either the company or its minority shareholders.
Restraining the company or another shareholder or director where the director or shareholder is likely to be deprived of profit or benefit, or to have profited or benefited from their negligence or breach of duty.
CAMA has made some other effort aimed at protecting the investors in a company. Some of these protections include: Restrictions on the alteration of the Memorandum and Articles of Association of a company.
Restrictions against insider trading. Prohibition of untrue statements in the prospectus of a company. Statutory requirement for the publication of most information about a company. The locus classiscus on the above is the decision in Pender v.
Lushington  6 CH. The CBN in turn has discovered that the Banks, to take advantage of the incentives offered by the scheme and as a result of the refusal of the SMES to allow them to invest under the above conditions, have established their own SMES, which are nothing but indirect subsidiaries of the Banks.
To protect all the stakeholders, it is suggested that the scheme be reviewed and the following alternatives be considered: The requirement or qualification that the SME must have a minimum or maximum? This is because a serious enterprise with this kind of asset base in present day Nigeria or in most developed economies should not qualify for categorisation as an SME.
The Trustees to these co-operative societies must be people of credible financial reputation and banking record who in addition to entering into contracts with a Bank for the disbursement of the credit facilities must also give their personal guarantees securing the facilities. Another form of practical collateral is the provision by the SME of a fixed and floating charge over all the assets of the SME, to the granting Bank.
However, the Banks should exercise more due diligence when executing this and other charges, as there have been reported cases of multiple charges on the same property by some SMES with the suspected connivance of the officials of some Banks.
It is thus suggested that to discourage this terrible practice of multiple charges over the same assets of a company, the Banks should through the Bankers Committee, establish a sort of data bank where these kinds of charges can also be registered in addition to the ones, which should be registered with the Corporate Affairs Commission, Abuja as provided for by Law.
Interestingly, some financial institutions only obtain from the Lender a deposit of title deed without executing and registering a deed. Banks, who are members of the Bankers Committee, can on the Internet, using their security codes and in the spirit of healthy competition, assess this data bank and share confidential information concerning it.
The current practice of equity participation by the Banks should be more closely reviewed, as the first rule in any enterprise is that an investor should not invest in a venture that he is not proficient in.
There is also the problem of well trained man power specialised in investment Banking to supervise the investment of the Banks in the SMES as experience has shown that a business in Nigeria transcends the keeping or monitoring of accounts.
After all, the joke is that businessmen worldwide always have multiple accounts for multiple purposes. The exit period of three 3 years by the Banks after which they should disinvest from the venture may not be practicable and should be reviewed as it takes a longer period of time, in a volatile environment such as ours, for a venture to make a commercial return on investment.Oct 27, · A synthesis is a piece of writing that combines information from two or more sources.
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