AL-BARKAR TRANSPORT INVESTIMENT In response to the growing unemployment among the muslim youth graduates in the country, we feel it is necessary to come up with a strategy that will provide solution to the problem. It is our belief that muslims are naturally blessed by God. It is to this end we propose to use one of these blessings which is unity to address the problem. It is also our belief that with the present sophisticated legal and economic environment which our government has provided to enable ideas to thrive and with sincerity and Allah’s grace, this problem can be tackled using our Islamic principles. Transportation is one of the most lucrative sectors in our economy today. Millions of Nigerian jobs are found in the sector. It is a fact that every Nigerian spends their money on transportation every day because there is nothing we do that does not have transportation cost. The sector has saved millions of muslims from poverty. However, there is a segment in the sector that has completely been neglected by the muslims. The segment is luxury bus transit. This segment is completely controlled by the non-muslims. And it is a segment that commands respect in the business. It is to this end I have come to the conclusion that this sector will be a good start for the programme we have in mind. The reason being that to embark on a public project like that, one must do something that will earn him an instant public trust. And this segment of transportation will provide instant result because its profit is daily. VIASIBILITY STUDY This business is possible because it is less difficult to run. What one needs is to go to the motor-park and talk to the people around there. Recruitment is also simple as there are many capable and responsible drivers who can be recruited during our recruitment exercise. It is also a corruption-free business in the sense that the drivers are not responsible for collecting the money. In fact the passengers can pay to the bank who will issue them a pin. Because it is a business that can be organized in a modern way, it makes it attractive to the reputation of the investors. The product (luxury bus) is easy to buy and easy to sell. People cannot do without travelling. According to the research that we have conducted, a new luxury bus costs 20 million Naira. We are hoping to start with 6 luxury buses travelling from Lagos to Kano, Sokoto to Lagos and Port Harcourt to Lagos. In the buses, we shall allow propagation of Islam by showing Islamic programmes on the televisions in the buses. Each of these routes will cost a passenger N5050 per seat. A luxury bus has 57 seats. Multiplying 57 by N5050 it will give us about N290000 Naira. A tour to any of these routes will cost N40000 Naira diesels to complete a journey. All the six buses are expected to turn in 45 million Naira in 30 days (monthly). 14 drivers are needed with N150000 Naira salaries each-making N2100000. There is need for a manager who will be paid N200000 monthly. We will also need 5 financial secretaries and 13 bus attendants who will be paid N50000 each. The total of their salaries will be N900000. So roughly the overall salary will be 4 million Naira monthly. Deducting this from the remaining turnover it will give us N45000000-N4000000= 41 million Naira. This 41 million Naira will be divided by 4. ¼ goes to depreciation account. This is because we are dealing in a business that its product must depreciate. We hope to replace all the buses every year. And with ¼ of the turnover set aside for depreciation which is roughly 10 million Naira monthly. So in 12 month (a year), we will have 120 million Naira which is equal to the initial capital. Another ¼ will be used as plough back capital. This money will be used to expand the business therefore increasing the value of a share. Another ¼ will be distributed among the shares as dividend monthly. The remaining ¼ will be paid to our investment company as the regulatory body. This money is for the regulatory and administrative services provided by our investment company. The investment company shoulders the responsibility of recruiting the general manager who himself has the power to recruit and fire other staff members working under him. The sacking of the general manager is vested in the hands of the investors. The good news is; our investment company is offering automatic jobs to the first 100 investors to complete their payment as we allow installment payment to be made because we believe our investors will rely largely on their allawis to invest in this project. A form register for a share is N5000. The second 200 investors to complete their payment will be offered jobs in our industrial production companies automatically. And promise to continue on that thread until everyone is employed. We are still going to establish telecommunication companies which we believe will have the capacity to employ a great number of people. PROCEDURES FOR PARTICIPATION The prospective investors are to buy form from any of our authorized dealers. You are to fill the form and submit it to the authorized dealer after you must have made a duplicate. The investment company will send you a facebook usersname and password through the phone number you provided. You are expected to change the password to your taste. You will then be admitted to our facebook page. You are to consult the authorized dealer if you do not receive such information from us. It is this facebook address created for you that will allow you to interact with the business and our investment company. During voting, you are expected to like the post if you agree with the issue being voted on. And you can express your disagreement by ignoring the post. Voting lasts for 24 hours. Decision on the issue will be reached by deducting the total number of those who support (those who like the post) from the total number of the investors. If the number of those who support the motion reaches 70% the motion will be adopted and if less the motion will be rejected. PAYMENT PROCEDURES A prospective investor will buy a share-form from any of our authorized dealers nationwide at the rate of N5000 each. Each share costs N120000. In order to ensure transparency, the investment company has designed a means of payment that guarantees the safety of your investment. When an investor has bought a share-form, he or she is expected to proceed to any of First Bank branches close to him or her. You are to obtain a joint account form. You will fill your part of the form with all the necessary information needed and submit it to any of our authorized dealers together with your share-form which you bought from us. The investment company shall fill its part and submit it to the bank. You are expected to verify whether it is actually joint account that was opened for you before you make payment (N120000, money for share) to the account. This system has been adopted to assure you that our investment company cannot dupe you since we cannot withdraw your money without your conscience. Before the investment company will withdraw any money from the account, the investor must sign, that is why we are using joint account. Another measure we have also taken to assure you that your investment is save is that when we are ready to start the business, it is not the investment company that will pay for the products. The bank will do that. The responsibility of the investment company is only to look for the product and inform the investors about the prices and other details for them to cross check. It is after the investors have certified with the prices that the bank will be asked to pay for it by the investors signing their withdraw slip and forward it to the investment company to sign so that the bank can pay for the products. And this will be done through voting. When the business has started, the investment company will dissolve the joint account and make it a unit account which will belong to the investor. It is this account that will be used to pay dividends to the investor. An investor can pay in installment. But you are expected to complete your payment within 12 months. Note that when 70% of the investors have agreed to the prices, all the investors must sign their withdrawal slip. Failure to do this within 7 days by any investor will mean forfeiture of his or her registration and the investment company will not allow him or her to withdraw his or her money until two years. REGISTRATION FORM NAME ………………………………………………………………………………………………………………………………………………………. NYSC CALL-UPNUMBER/SCH. CERT REG.NUMBER…………………………………………………………………………………… STATE OF ORIGIN ………………………………………………………STATE OF SERVICE………………………………………………… PHONE/MOBILE………………………………………………………………………………………………………………………................... NEXT OF KIN……………………………………………………………………………………………………………………………………………… TERMS AND CONDITIONS OF CONTRACT 1. An investor must be a serving or ex- corps member or a university student. If found otherwise; forfeiture of his or her investment is penalty. 2. The investors’ say in the business is limited to the vote of his share. He or she can only sack manager through his or her vote. An investor does not have any other say in the running of the business organization. Every year the investment company will ask the investors to vote whether they want the manager to continue with his job or not. The investors enjoy other rights enjoyed in the conventional share-market business. 3. In case there is any grievance, the aggrieved investor can only report that to the investment company. 4. Any investor who works in the organization can be sacked at anytime when the management feels his or her service is not longer needed. 5. The investment company is not liable for any loss incurred by the shareholder through mishandling of his or her personal data by him or herself. The investor must keep his pin number and other secrete information save. 6. There is no refund of money by the investment company once an investor has invested in the business. The only way to get back his or her money if he or she does not have interest in the business again is to sell his or her share to anyone who is qualified to invest. 7. In the case of liquidation, the investment company shall sell all the company’s assets and distribute the money base on the ratio of the value of each share. SHARING OF DIVIDENDS 8. The monthly profit will be divided by 4. ¼ goes to depreciation account. This is because we are dealing in a business that its product must depreciate. We hope to replace all the buses every year. Another ¼ will be used as plough back capital. This money will be used to expand the business therefore increasing the value of a share. Another ¼ will be distributed among the shares as dividend monthly. The remaining ¼ will be paid to our investment company as the regulation body. 9. All the terms and conditions are subject to reform at as when the investment feels except item number 2, 7 and 8. I………………………………………………agree to all the terms and conditions provided above. …………………..…….Date ………………………. AUTHORIZED SIGNATORY …………………..…….Date ………………………. AUTHORIZED SIGNATORY …………………..…….Date ………………………. AUTHORIZED SIGNATORY
Posted on: Sat, 17 Aug 2013 17:44:07 +0000
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