Samuel & Doxa LP

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Samuel & Doxa LP Corporate Attorney's focused on Corporate Governance issues and business promotion. Keep updated, be informed!

A great leader must possess the Eagles anointing. We have often seen eagles flying gloriously in clear blue skies and wo...
04/08/2022

A great leader must possess the Eagles anointing. We have often seen eagles flying gloriously in clear blue skies and wondered what makes this set of birds so unique from the others. Being one of the largest birds, eagles are aerial predators that symbolize power, ferocity, and freedom.

Here are 7 amazing facts about Eagles and how they directly reflect great leadership skills.

1. Eagles Have Vision
Vision is a successful leadership characteristic
You must have a vision that guides and leads your team towards the organization's or societal goals. The vision must be big and focused. A big, focused vision will produce big results.

2. Eagles are fearless
An eagle will never surrender to the size or strength of its prey. It will always give a fight to win its prey or regain its territory. Successful leaders are fearless. They face problems head on.

3. Eagles are Tenacious
The eagle takes advantage of the very storm that lesser birds fear and head for cover. Like an eagle, a leader can only rise to greater heights if he takes up the challenges head on without running away from it.

4. Eagles can fly up to an altitude of 10,000 feet, but they are able to swiftly land on the ground. At 10, 000 feet, you will never find another bird. If you find another bird, it has to be an eagle. Great leaders are problem solvers. They love to take challenges as the eagle does when the storm comes.

5. Eagles Never Eat Dead Meat
In other words, an eagle does not scavenge. It only eats the meat from the prey it kills itself. A true leader spends time with people who are vibrant and liberal in thinking. There is a saying that goes like this: "People you hang around with and the books you read eventually determines the person you become."

6. Eagles posses Vitality
Eagles are full of life and are visionary but they find time to look back at their life and re-energize themselves. Great leaders are the ones that always do "check and balance"of their personal and professional lives and make an effort to learn things every day.

7. Eagles Nurture their younger ones.
Research has shown that no member of the bird family is more gentle and attentive to its young ones than the eagles.

DID YOU KNOW?THAT THE WORD NEXT-OF-KIN MEANS ABSOLUTELY NOTHING IN LAW;It carries no legal weight.Your next of kin is si...
11/11/2021

DID YOU KNOW?

THAT THE WORD NEXT-OF-KIN MEANS ABSOLUTELY NOTHING IN LAW;

It carries no legal weight.

Your next of kin is simply the person who could be contacted in case you're not available.

Your Next- Of- Kin is not the person who stands to inherit the millions in your bank account;

He or she may well be in possession of all your Land documents ; but he or she will never have the power to sell your property;

Nor will they be allowed to touch any money from your bank account.

Nobody prays to die early,

But if you are opportuned to own valuable property or assets,

Please do not hesitate to write a Will

AND PLEASE: DO NOT WRITE IT BY YOURSELF AND FILE IN A DRAWER;

Call your Lawyer, let him/her write your Will.

The Will would need to be filed in the Probate Registry before it can be acceptable in law.

If you do not write a Will,

Your relatives would have to pay a lawyer to apply for Letters of Administration, when you are no more;

They would need to advertise in a newspaper,

Apply to a Judge to grant the order,

And pay a big chunk of the value of your assets to the State Government before they can have access to your bank accounts or your property.

Sometimes when people consider the stress involved in obtaining Letters of Administration,

They just abandon all the money and it becomes the property of the bank.

There are several reasons why an individual would consider converting a business name to a limited liability mostly beca...
10/11/2021

There are several reasons why an individual would consider converting a business name to a limited liability mostly because there are limitations to the advantages and benefits enjoyed by a registered business name, and the most prominent reason would be for the purpose of expansion of business objects or upgrade of the business name, or for projecting a more professional image.

A limited liability company has a lot of advantages accrued to it than a registered business name.

The requirements for the conversion of a business name to a limited liability at the Corporate Affairs Commission are as follows:

1. The applicant will make a formal application of conversion to the Registrar General of the Corporate Affairs Commission. The applicant will also attach the Original Business Name Certificate to the application.
Where the application is made on behalf of the proprietor of the business name, an authorization letter from the proprietor will be attached alongside the formal application to the commission.

2. The applicant for the conversion of a business name to a limited liability will submit evidence of up to date payment of annual returns for the business name.
Business name annual return is due for payment from 1st January to 30th June each year except the year it was registered.

3. When all required payment are made and the filled forms are submitted, they would be transferred to the office of the Registrar General in Abuja, who would grant consent for approval when satisfied with the application, but where it is queried, approval will not be given.
Finally, where approval is given, the applicant can commence the registration of the previous name as a limited liability company.

17 years at the Nigerian Bar, God is faithful.
08/11/2021

17 years at the Nigerian Bar, God is faithful.

DID YOU KNOW...that you can mitigate the risk of fraudsters carting away your hard earned money without involving the la...
22/07/2020

DID YOU KNOW...
that you can mitigate the risk of fraudsters carting away your hard earned money without involving the law enforcement agencies in Nigeria?
A lot of fraudulent transactions are on the rise these days especially online where some businesses in the name of delivering goods or offering a service take advantage of the creditor, collects their money and never delivers the goods or offers the service. Sometimes, they go as far as blocking them off social media afterwards.
Most times the cost of involving the law enforcement agencies are a lot higher than the money you have paid for goods you never receive and this has led to several cases of forfeiture on the part of the creditor and loss of trust for future online transactions.
To mitigate this risk, follow the following steps:
1. Always document your transactions. Opt to chat or send emails rather than talk on the phone so you have a trail to fall back on should the need arise. Document everything please.
2. If you have to pay before delivery, opt for bank transfers and not cash payment. That way, you have the persons bank details and transaction details too. If there is an option for payment on delivery, please take that option
3. When the transaction goes soar, make sure you ask for a refund by chat or emails. Document your demand notice. Give a week notice for the benefit of doubt then write to your bank.
4. Add all the documentary evidence and follow up. If its not the same bank, ensure the transaction is escalated to the debtors bank. Make sure you escalate it
Once the debtors bankers receives multiple complaints (at least 3) on the same account, it will be flagged off and the amount will be frozen in the persons account.
If after a while the debtor doesn't respond, the debtors account (or all of his/her accounts as linked by BVN) will be frozen and the person will have to come physically to the bank to unfreeze.
The bank may choose to involve the law enforcement agencies at this point depending on the magnitude but all in all you will get your money back.
Try this & thank me later.
Also please beware of fraudulent social media influencers!
@ Lagos, Nigeria

Time ManagementThe challenge:Time management is probably the biggest problem, especially for the new entrepreneurs.In yo...
09/07/2020

Time Management
The challenge:
Time management is probably the biggest problem, especially for the new entrepreneurs.
In your own business, you have to take care of everything unlike a regular job where you only have to take care of certain tasks.
The solution:
You have to enhance your time management skills. Following are some useful tips:
Create goal lists: Make a lifetime goals list and break it down to annual, monthly, weekly and daily goals. That way, your daily goal will be in front you and you just have to be on track.
Delegate the jobs that don’t require your personal involvement.
Simply eliminate the unnecessary tasks.
Assess yourself on a regular basis.























This here is the absolute truth.Everyone wants a solution to their problems, what problems are your business's solving?T...
07/07/2020

This here is the absolute truth.
Everyone wants a solution to their problems, what problems are your business's solving?
The 1st person the start the pure water business in Nigeria cashed out because it was a solution to a problem the masses faced.
It was the bridge between home water and bottled water and it was affordable and accessible water on the go.
Stop doing a business just because everyone is doing it, ensure your business is solving a problem and watch that Business prosper.
























Quitting Another CareerThe challenge:Most of the new entrepreneurs leave their regular jobs in the overwhelming joy of b...
27/06/2020

Quitting Another Career
The challenge:
Most of the new entrepreneurs leave their regular jobs in the overwhelming joy of becoming self-independent. And that too with less than the amount in bank required for living at least a month or two even without any payment whatsoever.
The solution:
Money is something inevitable for living. So, quit your present job when you’ve at least the required amount for living a standard life as a financial cushion and have a robust business plan, or when you’re earning a standard amount from your new business endeavor.























Cash FlowThe challenge: Small businesses can’t survive if they don’t follow cash flow guidelines and this is probably on...
22/06/2020

Cash Flow
The challenge: Small businesses can’t survive if they don’t follow cash flow guidelines and this is probably one of the biggest problems that new entrepreneurs face.
For example, you perform a job timely, raise the invoice and get paid after a month. In the meantime, you’ve to bear all your business related expenses like your infrastructural cost, your employee’s salary and additionally, your personal expenses. And in case you don’t get paid at all, only some miracle can help you out.
The solution:
Proper planning and budgeting are crucial for maintaining cash flow. One way to increase cash flow is asking for a down payment whenever you receive an order. That way, you’ll be able to pay your expenses and that too while keeping some profit aside. Another way of increasing cash flow is asking your clients for faster invoice payments.
Say, instead of 30 days you can ask your clients to clear your invoice after 15 days. That way, if the client is late on payment, you’ll still have some time.
The third way is a little uncommon and it entirely depends on your rapport with your own vendors. If you can manage to make your vendors agree to invoice you after 45, 60 or 90 days, you’ll have sufficient time to receive your payments and then clear their invoices.























Choosing the right businessThe challenge: Two of the most crucial reasons behind failing of new entrepreneurs are the in...
20/06/2020

Choosing the right business
The challenge: Two of the most crucial reasons behind failing of new entrepreneurs are the inability of selecting the right business and doing it in the proper manner e.g. ethically.
The solution: Firstly, to attain success in your new business endeavor, you’ve to have an outstanding product or service that adds value to your customer’s life.
Secondly, you’ve to maintain your ethics.
Having said that, you’ve to deliver exactly what you’ve committed to. Because if you fail to do so, again by virtue of word-of-mouth publicity, you’ll hardly have your business expanded as you’ll fail to attract new customers or retain your existing clientele.
Remember, it is easier to attract first time customers, but it’s much more difficult to retain them.























Entrepreneurship is synonymous with a lot of challenges. Though both novice and experienced entrepreneurs have to face c...
20/06/2020

Entrepreneurship is synonymous with a lot of challenges. Though both novice and experienced entrepreneurs have to face challenges, the nature of such challenges is significantly different.
For the latter, most of the challenges encompass establishing a new brand or staying ahead in the league and making the business a significantly profitable one. But for new entrepreneurs, some unique and most common challenges like arranging the funding for startup, choosing the right business, maintaining cash flow etc. arise.
Let’s take a look at the most common small business challenges that new entrepreneurs often have to deal with, in addition to finding solutions for each of them.
If you’re an aspiring entrepreneur, the following advice will help to make your journey a little easier.
Capital
The challenge: You want to grow or start your new business endeavor, but you’re facing difficulties for financing for new business owners.
The solution: Though various ways are there for arranging small business funding, starting from friends and family to conventional bank loans, many experienced entrepreneurs believe that self-fueled growth model is the best and less-risky one.
Instead of trying to establish a big business house overnight, aim at your primary customers. If you can provide value added services to them, by the virtue of word-of-mouth publicity, your business will develop automatically.
However, if you need to take outside funding anyway, don’t forget to conduct your due diligence to avoid future complications.























Introducing new products and servicesCompanies that rely heavily on providing goods and services for large events and fu...
04/06/2020

Introducing new products and services
Companies that rely heavily on providing goods and services for large events and functions will have to indroduce new products to keep them afloat.
Since COVID-19 hit, in-person events suddenly dried up and most people have migrated to virtual events.
Event hall decorators may have to look at smaller learning decorations for home events such as balloon arrangements and bouquets, individual gifting options and so on.
Going forward, it would be wise to incorporate a lot more simple home decor for small and intimate events into their schedule.
Renew your focus on the basics
Many businesses have realized now that they had not been keeping up with their online presence.
The pandemic has forced them to update their information to ensure customers are aware of their business.























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