YOU CAN COMFORTABLY DO BUSINESS IN NIGERIA IF THESE STEPS ARE FOLLOWED

Consider one or two of the following CBS Services:

These products are designed to reduce the uncertainty of doing business in a country like Nigeria, Ghana and others.

Credit Report (CR)

You need to know who the company is with whom you intend to do business.  Before a “yes” or “no” response answer to a business proposal coming from or offered to a company in Nigeria, there is wisdom in insisting that your company require CBS Credit Report on them.

Take this seriously; whether or not the proposed transaction terms will be on Letter of Credit, you still have to insist on Credit Report.  The reason is that some companies in Nigeria have the habit of doing one or two L/C transactions with their suppliers and later capitalize on that confidence to ask for shipment on credit terms which sometimes they purposely plan to default.  Asking for CBS Credit Report on such company from the onset may avert this “funny” possibility.  Also, the credit report will show you if the subject company have capacity to raise L/C in the first instance.  You may even build the cost of the credit report into your product prices so there won’t be any resistance from the potential buyer.

What you get in CBS Credit Report?

Our reports are arranged in five broad categories:

• Ownership and Management
• Legal Status and History
• Operations
• Financial Information and analysis
• Credit Appraisal and an opinion on a specific or maximum credit level.

We offer complete national coverage and make up-to-date investigations on all enquiries.  All our reports are delivered by fax or e-mail. We will not bore you with any un-necessaries.

Credit Rating Report (CRR)

For a large or high profile transaction or deals involving huge offshore investment, product supply or financial lending, full scale Credit Rating Report should be requested.  It could be on a state government, local government or high profile corporate in Oil and Gas, Banking, Telecommunication, Aviation, Manufacturing, Real Estate, etc.

Make no mistake, no matter how persuasive, convincing and pragmatic some promoter’s or  business partner’s presentation may sound or appeared to be, your first reaction like most people is to “let them know that you must confirm their claims through a professionally prepared “Credit Rating Report – CRRC”

Inability and lack of patience to get adequate business information, economic, political and administrative related risk information are to a very large extent responsible for avoidable business burnouts or losses often experienced by some offshore product and service suppliers, funders/lenders and investors in dealing with their Nigerian patronizers.    CBS Credit Rating Report will assist in reducing the risk of doing business with these entities.

What you get in CBS CRR?

• All the elements you find in the CBS Credit Report are also in CRR.
• Indepth analysis of political risk, economic risk, industry risk, market risk, management risk, and business risk to which the subject entity is vulnerable are covered column by column in this report.  We highlight the possible impact such vulnerability may have on the ability of the subject entity to honour short or long term obligation, including identification if any of the entity’s internal constraints in relation to capacity structure capable of undermining its ability to discharge obligations to obligor.

Corporate Investigation Report (CIR)

Nigeria, like many other African countries is an “import economy”.  In many years to come, foreign products and services suppliers as well as funders/lenders and investors will continue to make fortune from African economies.

Therefore, the need to know how much is the presence and/or influence and reputation of a particular supplier, funder/lender, and investor and their local partners or associates becomes strategic.  Questions like; who is or are the people behind this organization? How are they funded? What links do they have? And so on, begs for compelling answers, and CBS Corporate Investigators are on hand to unravel what has been concealed. 

Consumer Credit Vetting Report (CCVR)

CBS is a professional credit reference company providing objective and timely credit reports on consumer and corporate customers.

We wish to offer our services to organizations which provide post-paid credit to individual customers in the area of consumer credit vetting report to support approval decisions process.

As a credit management expert firm, CBS believes that for your organization to successfully manage its post-paid subscribers stock, there is need for indepth personal and business information on those who apply for post-paid accounts.

The information you find in our (CCVR) Consumer Credit Vetting Report includes:
Subject’s correct residential addresses, place of work, position in office, employment or business history, responsibilities in workplace, financial standing, personal identities, among others, including specific information requested by the client.

There is no doubt that your line of business have continued to face the huge need to provide post-paid services to corporate executives and business professionals to enable them respond promptly and conveniently to business demands.  To cope with this challenge, CBS has developed CCVR package that will enable your type of organization manage effectively the consumer credit build up that will arise from post-paid subscription package, including the capture of information that ensure efficient distribution of bills and payment response.  We believe CBS can add value to your company service delivery in a more significant fashion.

We hope your organization will take advantage of CBS services to strengthen its present operational structure.

We will be willing to discuss further with your management at your earliest convenience.

E-mail: cbspscfm@cbspscfm.com.

Project Viability Report (PVR)

CBS Credit uses its expertise to construct an investor-friendly PVR.  We put ourselves in the position of an Investor and lender, trying to see things much more from the point of view of worse scenario. As you know, decision to throw out “good money” is harder than to welcome “easy money”.

Though other outfits claim overwhelming competence in molding superior project business plan which at CBS we call it “PVR”, we suggest that CBS’ PVR is reasonably better than the best of these other competitors in terms of structural simplicity, scope of coverage and expert opinion.  This is why IFC (International Finance Corporation) have no trouble recommending clients to us.  Our “Project Viability Report” which others call “Business Plan”, contains a comprehensive statement of business direction on a new project looking for investor’s funding.

What you get in PVR?

• Why is the project viable?  ….the need.
• Identification of associated risk scenarios – SWOT
• Environmental appraisal – risk bands
• Financial calculations – cashflow projection
• Operating structures – management capabilities
• Project Viability rating – to fund or not to fund

Market Penetration Report (MPR)

Some other players calls it “Market Intelligence Report”.  But in our view, this does not explain everything well.  So CBS calls it “MPR”.  You look at the market because you have something in mind….. to penetrate or strategize if you are already inside the market.

CBS Credit can help you to enter into Nigerian market either as a “fresher” or one time actor trying to re-enter, to re-capture your market share.

What you get in MPR?

1. Strength and weakness of current players
2. Who are the distributors/other outlets
3. Preferred terms and conditions for distributorship
4. Reputation of distributors
5. Market regulations and regulatory requirements
6. Market size, product price
7. Import requirements and ports clearing systems

Credit Facility Review Report (CFRR)

You have been doing business with your current buyer in Nigeria with impressive business relationship experience.  From time to time your customer comes up with request for increase of credit limit.

Most time, some buyers, not all, when they want to blow up a relationship do come up with such requests.  They want credit limit to increase from £10K to £50K and so on.   CBS handled some cases like this even presently for some suppliers in UK, Germany, China, USA and Japan. At the end of the day, you find a situation where goods were shipped and the customer disappeared with it.

When you come to face this type of request, it is advisable that you throw the ball back to the buyer by politely stating that you will consider the request for the increase of credit limit subject to a CFRR which will be done by CBS Credit.

What you get in CFRR?

• Why the increase
• Proof of market growth
• Any possible diversification of business line; or is business expanding
• Is the buyer facing internal debt problem
• Current Relationship of the buyer with his bank
• Current audited accounts
• Immediate past 6 months management accounts
• Personnel audit.