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Posts Tagged ‘Kunle Manuwa’

nig limted ii

August 25, 2011 Leave a comment

About three weeks ago, I received an email from my lawyer, Kunle M* notifying of his receipt of the search results. He did three searches – the first two were refused, and only SKA Pearl Kreations Nigeria Limited was successful, because SKA Nigeria apparently already exists.

It would seem I have met a brick wall as I will not have with SKA and Pearl Kreations combined as the company’s name. There is however a silver lining – SKA Nigeria Ltd is a moribund company; hence The SKA Group can still be registered and there are two options towards getting that done:

  1. Getting the Registrar of Companies to strike the moribund company off the Register of Companies. My lawyer’s contact at the CAC Headquarters in Abuja advised that it will be almost impossible to move the Registrar to strike out one company when more than sixty percent of companies on the register are dead! Besides that, the law apparently prescribes a procedure to be adopted before a name can be struck off and this procedure involves publication of warnings in national newspapers. If the striking has to be done, it would be done holistically and not just for one company.
  2. Applying for a ‘Change of Directors’, a ‘Change of Name’ or a ‘Report of Same Ownership’ of the moribund company i.e. declare that SKA Nigeria Ltd and The SKA Group Nigeria Ltd are owned by the same entity.

Obviously, my best option is the second, but I will need a copy of the Certificate of Incorporation of the moribund SKA Nigeria Limited! I began to wonder how I would find them and if it was worth the trouble.

Fortunately, I managed to get in contact with one of its (SKA Nigeria Limited) majority stakeholders and he has agreed to do the change directors. Even though a scanned copy of the Certificate of Incorporation would have to suffice, we set a tentative meeting date for sometime in December because I felt I should meet the gentleman in person. Also, I might as well go because I’m sure I will have a bunch of documents to sign in person -__-

nig limited i

January 18, 2011 Leave a comment

I’m so happy – The SKA Group is finally in the process of being registered in Nigeria.

A few hours ago, I met with my lawyer, Kunle M* at my residence to sign the documents for the registration. I have never ever ever ever signed so many documents! It was probably so many because I had to sign for two (2). I’ll explain – First, I had to sign for The SKA Group. As a Corporation, it is recognized as an independent entity under law. The SKA Group will own seventy percent (70%) of all subsidiaries. I also had to sign for myself as I will own thirty percent (30%) of them. My mum had to sign a couple too because unlike Canada, there has to be a minimum of two (2) directors for a company in order to have it registered in Nigeria; and I chose my mum. I will retain ninety percent (90%) ownership of the conglomerate, while she will have ten percent (10%) ownership. The conglomerate has to have the majority share of the companies in order to be the parent company. I don’t lose any control as I already own ninety percent (90%) of The SKA Group Inc. It took me a while to understand that lol.

I do not recall if I mentioned it in the last year’s post, but in Nigeria, the parent company plus each of the subsidiaries will have to be separately registered as individual companies. Once that is completed, the subsidiaries will then be consolidated under the parent company as subsidiaries. I initially thought it was total fee of N90,000 for the whole thing, but apparently, it is N90,000 per company including legal fees. That would make it a grand total if N810,000 for the parent company and its eight subsidiaries.

In order not to pull my hair out, I decided to register just two for now. Unfortunately, this means I have to endure another 14 hr flight back to Nigeria when it is completed. I was hoping I would be able to get all that done before returning. Oh well, more family time for me! I will put updates as it goes on as nig limited II, III and so on.

Cheers!

new dawn

June 10, 2010 1 comment
Earlier on in the year, I decided to make everything about me business-wise, more professional. I started by opening up different departments under customer service for Pearl Kreations; and then with its success, I did the same for all the other Businesses.

Next on the list were the websites. I believe websites are very important. Websites are the windows of the world into Companies. Hence, a good website is the product of a good Company! I initially designed and maintained two of my Businesses’ websites myself. For those without websites set up, I have both mental and/or tangible blueprints of what they should/will be like.

I believe that in order to make The SKA Group live up to the expectations and the level of professionalism expected of it, I needed to start from scratch. Hence, I started by re-doing the oldest website – Pearl Kreations’ http://www.pearlkreations.com. The reconstruction contract was awarded to GobbleAbba Web Studios Limited (http://www.gobbleabba.com). And in about three (3) weeks, which ended today, it was ready. I’m highly impressed. I’m so impressed that I just might most likely will give them all the websites to re-do and/or setup…let’s see if they deliver and how our business relationship pans out over time.

Also, as part of our current efforts to reconstruct the Company, marked by the modernization of the Pearl Kreations website, the P.K. Customer Service email address has been changed in order to make the Business more professional. The new Pearl Kreations Customer Service email address is: service@pearlkreations.com. The former, mr.buttons@live.ca is now invalid and not in use anymore. Customer service related mails will be received and sent via this email address only from hence forth. Notifications were sent to everyone in our database via both email addresses about 24 hours ago to inform them of the change. Another message will be sent via Facebook shortly.
Another thing that got changed was the complimentary card.
Because there is a new logo, new email and new website, we gave it a new look.

In the beginning, it was:

A few days ago, it was:

And this would have been the final, but then I wondered why I asked for the Twitter information to be included on the card.
After the change of mind, it became:

This might change this later. Right now, I’m thinking of adding: “the makers of the most innovative button-badges and lapel pins” in a bold font just below our slogan. What do you think? Anyway, right now, the difference is very clear! lol. It feels good to grow; and then look back and see how far you’ve come.

I recently, looked into fully establishing The SKA Group in Nigeria as a limited liability company. Some of the subsidiaries are already operational, but I want every one of them legally under one “umbrella”. So I obtained legal counsel on Company Registration in Nigeria from Kunle M*. He’s a Lawyer whom I had the pleasure of meeting while in Nigeria last year.

After exchanging a few emails, as I presumed, the Nigerian Constitution has way too many protocols for a Conglomerate! It is so different for Canada – here, the Parent Company has a base fee, and additionally companies/subsidiaries are an additional subsidized fee. After that, it is completely straightforward. All I had to do was submit a document profiling the Company! The document only has to contain information of establishing The SKA Group as the Parent Company, the business model, the Company’s vision, the Company’s mission, the Company’s ethics, the Company’s values, and the description of the Parent Company’s business as well as those of the Subsidiaries. All logos, if any, could be included for trademarking. Any other piece of information that could be necessary, such as the Hierarchy. And that was it!

In Nigeria, it’s a completely different ball game. It doesn’t even matter if the Company is already registered and legal in a foreign Country! In Kunle’s words, “Getting things done in Nigeria is always herculean! Cumbersome forms and procedures! It can be tiring”. First of all, for a Conglomerate, there has to be documentation of the proposed allocation of shares. That basically means, there should be a document which will state the percentage of the Parent Company that will belong to the owner(s). Plus, the amount of shares (usually a major stake) in each subsidiary that will be controlled the Conglomerate. In essence, the document will be legal proof that, the subsidiaries belong to the Conglomerate, and the founder(s) own(s) and control(s) most of it!Then, I would also need to submit the names of the Directors (at least, two). Oh yeah, and there was something about listing the start-up capital, which will automatically determine the legal fees!
Anyway, the good thing about it all is, it isn’t expensive; or at least, not as expensive as I imagined :). By God’s grace, first week in November, I’ll begin pursuing the Registration of The SKA Group in Nigeria.

These modernizations and improvements cost money; and I need a break! I guess top-notch improvements = top dollar, but these are the sacrifices I have to make.

These little steps mark the end of an era.
The end of an era of mediocre business and the start of top-notch service.
I’m starting now because time waits for no one.
Some people have told me to relax, I’m only 23, but I read about 17-year-old self-made Millionaire!

In seven (7) years, I’ll be 30 and I’m not close to where I want to be! I’ve set goals for each and I’m well on my way. It might seem like a long time, but it isn’t! My reality check: I graduated high school in 2003…seven (7) years ago! The normal era ends and the dawn of the Super era begins 😀