The Nation Newspaper

Tag: items

  • Photographer loses cash, items worth millions to robbers

    One of the photographers of the 2015 Akinwumi Ambode Campaign Organisation, Niyi Adeniran, has relived how he was robbed of N200,000 cash and items worth millions of Naira, at his 18, Adeleke Street, Magboro, last April 14.

    Adeniran, a Digital Photography Executive with Chain Reactions Nigeria, said the robbers went away with valuables including a Canon camera 1000D, 2 Canon 70D, Canon 5D Mark3, 70-300mm Canon lens, 25-300mm Canon lens, Canon lens 18-135mm, a hard drive containing all his archive storage of 2TB Seagate, 1TB of Seagate and 2TB of Transcend hard drives.

    He listed other items stolen to include an iPad, Windows phone, Infinix, one mini HP laptop, a normal size HP laptop and N200,000 meant for his children’s school fees.

    Adeniran’s wife, Funmilayo, said the family left home around 7am on April 14 but returned home to see the house scattered and all valuables gone.

    “We all left home around 7am that day; my husband and I left home for work, our children were dropped off in school. It was when I got back home later that day that I discovered the burglary; I saw that everywhere had been ransacked; I was scared, so I rushed out of the house with my children to inform neighbours of what I noticed. They followed me back to our house and I called my husband to inform him about the incident.

    “He was also shocked but told me to call the Estate Security which I did. They came to see what had happened and my husband later reported the case at Ibafo Police Station when he got back from work. I have never experienced something like this in my life; this incident has affected my husband; he is worried about how to care for his family now that all the tools of his trade have been stolen.”

    Adeniran, who is yet to get over the incident, said he is grateful to God that the robbers did not injure anybody.

    “I cannot imagine what would have happened if anyone was at home when the incident happened. I thank God that nobody was hurt, but it is still a bitter experience for some unknown persons to enter my house and steal all my valuables. It is painful and I pray God’s mercy and protection will always be over my family.”

     

  • Strategy for putting items on clearance

    Merchants need to maximise all available selling space to maintain the highest profit margins possible. To do so, they must implement a process for weeding out slow-selling items and replacing them with newer or more in-demand merchandise. Getting rid of the slow sellers quickly and efficiently requires a well-thought-out strategy for identifying and liquidating them.

     

    Item selection

    Experts have advised that retailers  have a clear-cut method of determining which items they need to discontinue, such as using inventory-control software to show where items rank in their particular product category. Even if an item has sold well in previous years, its failure to outsell other items may be a sign that it is headed for obsolescence. Hanging on to these previously successful items in hopes will rebound they say, could increase inventory costs and tie up precious selling and storage space.

     

    Timing

    Experts have also advised that it is important to review profits for items at the end of their particular selling season to determine slow movers and enhance the success of the clearance sale. For instance, marking down slow-moving park as at the middle of the year will likely yield better results than doing so at the end of the year.  Also, instead of cluttering sales space with out-season merchandise that generates little interest, retailers will have more room in for displaying seasonal items.

     

    Deepest discount first

    To move clearance merchandise quickly, it is wise to offer deepest discount first. The goal is to move discontinued merchandise out and cut losses, not necessarily to turn a profit, so a 50 percent markdown will generate much more interest than a 10 percent markdown. Generally, the slower an item sells, the deeper the retailer   makes the initial discount.

     

    Marketing

    If there are a number of items to clear out at once, experts have said it may be beneficial to hold a storewide clearance sale and advertise it through media outlets. This they say, can increase traffic through store and help build an identity as a source for bargains, if that image suits  overall marketing strategy. If a retailer operates more of an upscale establishment or have only a few clearance items, it is wise to set up a small clearance area or keep items on the shelf and identify them with a “special sale” sign.

  • Ban on 41 items stays, says CBN

    Ban on 41 items stays, says CBN

    The Central Bank of Nigeria (CBN) yesterday refuted claim that it has reversed part of its policy on the none-ligibility of some import items for forex sale on the interbank forex market. The apex bank said it has not reversed its policy on the ineligibility of the 41 items for forex sale through the interbank forex market.

    It said the report followed wrong interpretations of its circular titled: Revised Documentation Requirements for Allocation of foreign exchange for Small-Scale Importation dated May 03, 2017, to the effect that importers of items classified as “Not valid for Forex” with transactions value of $20,000 and below per quarter shall now qualify for allocation of foreign exchange subject to the completion of form Q”.

    “This provision does not refer to the 41 items that remain ineligible for forex sale in the interbank market,” it said in a statement.

    lThe apex bank had in 2015, placed a restriction on 41 items for which importers could no longer get dollars, including rice, toothpicks, cement, private jets, steel products, plastics and rubber, soap, cosmetics, furniture, Indian incense and foreign bonds.

    Aimed at conserving  foreign reserves, the move curbed access to dollars for importers of  a wide range of goods, helped fuel the currency black market and worsened investor perceptions about policy in the economy.

    Last month the bank cut the amount of paperwork needed for small firms to buy dollars, to ease doing business and help narrow the gap between official and black market exchange rates. It said it will offer them up to $20,000 per quarter.

  • Forex ban on 41 items stays, says CBN

    Forex ban on 41 items stays, says CBN

    The Central Bank of Nigeria (CBN) has rejected calls by the Organised Private Sector (OPS) to reverse its foreign exchange (forex) ban on 41 goods, which the country can produce.

    The CBN said it would continue to support the real sector rather than lift the ban.

    CBN’s Acting Director, Corporate Communications, Mr. Isaac Okoroafor, said despite criticisms, CBN would not drop the policy nor bow to  “self-serving” interests.

    “We have observed with great concern the continued and unwarranted attack on our policies by a group of Nigerians, whose real interests, findings have shown, are anything near altruistic, but rather self-serving and unpatriotic,” Okoroafor said.

    He said while the CBN respected Nigerians’ or stakeholders’ views, it found it curious that some interests have remained persistent in misinforming the public, with the aim of discrediting the genuine management of the economy.

    Okoroafor said this could create  distrust and panic within the financial system. “Indeed, self-centered individuals, who have failed to assail our patriotic position, have resorted to the sponsorship of serial propaganda to misinform and mislead the public on the objectives of our policies,” he said.

    He said some unpatriotic elements were pushing for a reversal of the policy aimed at conserving forex, stimulating agriculture and manufacturing, and promoting exports.

    Okoroafor blamed the economic challenges on the past practice of frittering away huge oil earnings.

    “Our decisions on forex management are prompted by the challenge posed by the level of depletion of the country’s reserves, arising from issues, such as drastic reduction in oil earnings, speculative attacks and round tripping,” he explained.

    According to him, the pressure on the foreign reserves has persisted due to huge reduction in monthly foreign earnings, which fell from over $3.2 billion monthly in 2013 to below $500 million last year, when the demand for the US dollar, particularly by importers, continued to rise.

    Despite the challenges, the CBN has continued to ensure that there is liquidity and transparency in the forex market, while checking inflation, and promoting productivity in critical sectors of the economy, Okoroafor said.

    However, the Organised Private Sector (OPS) members are not swayed by CBN’s position. Describing the policy as worrisome, they insisted that the apex bank’s unorthodox forex allocation system would continue to hamper  growth.

    The Lagos Chamber of Commerce and Industry (LCCI) Direc-tor-General, Mr. Muda Yusuf, said, in Lagos, that it was worrisome that the CBN had remained silent on some forex-related issues that were affecting the economy.

    He listed them to include acute illiquidity,  inflow impediments and too tight regulations on movement of funds.

    Others, he said, were the effects of the forex policy on non-oil exports, its disincentive to foreign direct investments and the negative impact of the policy on portfolio inflows.

    “Others are adverse effects on remittances by airlines, foreign investors’ dividends and profits; adverse effects on Diaspora remittances and the effects on investors’ confidence,” Yusuf said.

  • Police arrest robbery suspects, recover items

    Operatives of the Assistant Inspector General of Police (AIG) Zone II, Onikan, have arrested 10 suspected robbers terrorising 15 Lagos and Ogun communities.

    The suspects – Lekan Akinola, Mutiu Oyekan, Akeem Sanusi, Olahusi Rasaq, Kazeem Oladipupo, Waheed Amusan and four others – were arrested on Tuesday after police tracked a mobile phone stolen from one of their victims at Arigbajo in Ogun months ago.

    It was gathered the unnamed victim reported the case and the Zonal Intervention Squad (ZIS) was deployed to fish out the hoodlums.

    The Nation learnt the detectives, with the cooperation of police ICT experts, arrested Akinola, who led the team to his accomplices.

    The zonal police spokesman Muyiwa Adejobi said the suspects confessed to have robbed residents of Ibafo, Ifo, Ewekoro, Mowe, Adigbe in Abeokuta, Iju-Ota, Alakuko and Agege in Lagos.

    Adejobi said some of their victims were identified and their items recovered.

    He said: “Items recovered from them include refrigerators, laptops, plasma television sets, generators, wears, electrical appliances and their operational bus, a Mazda: Lagos BDG602XM.”

    “AIG Abdulmajid Ali directed that the suspects be charged to court, and that fleeing members of the gang be apprehended.”

  • Local govt. provides items, cash for traders

    Local govt. provides items, cash for traders

    Bothered about the level of poverty among some residents of Surulere Local Government Area, Lagos State, the council instituted a monthly empowerment programme through which relief materials are distributed to some of the needy.

    In line with the policy, the council recently empowered no fewer than 12 businessmen and women in its July edition of the programme to enable them to enhance their businesses and improve their economic well-being.

    Items including foodstuff, packs of table water and other drinks, freezers, grinding machines, vulcanising machines, rice cookers, screw drivers and sockets, among others were distributed to the beneficiaries. In addition to the items, each beneficiary received a cash gift of N10, 000, strictly for the purpose of doing business and making profit.

    The Sole Administrator of the local government, Sheriff Balogun said: “I inherited the monthly empowerment programme from my predecessor, Mrs Hussain Bamidele. The purpose was to identify those who are in need and avail them a sustainable source of income.

    He said: “At the maiden edition of the programme in my administration, it is pertinent to note that 12 people who are in need of these items are benefiting today.”

    He advised the beneficiaries to make good use of the items, as the local government would monitor them to ensure that the items are used for the purpose for which they were provided. Also speaking, former Deputy Speaker of the Lagos State House of Assembly, Shakirudeen Ajao advised the recipients not to engage in credit-selling to avoid accumulating losses.

    One of the beneficiaries, Mrs Ganiyat Kuku, who received 10 crates of soft drinks, 10 cartons of water and a deep freezer, with N10, 000 cash, expressed her gratitude to the local government, saying she had been hoping to benefit from the scheme for a long time.

    “I will add the drinks to the ones in my shop and make some gains. The profit made from the sale of these items would enable me to send my children to school and live comfortably. I am very happy and I pray the government continues to do more. I am sure I will still benefit in more of the great programmes organised by the local government. I have been hoping to partake of this for so long. I am so happy it is now my turn,” she said.

    Another beneficiary, Mrs Taiwo Adedeji, who got similar gifts, was also full of gratitude to the council, saying she would complement her husband’s income.

  • Must-have fashion items

    Must-have fashion items

    FIND out the essential items every man should have in his closet and learn to successfully mix and match vital pieces for a variety of timeless, stylish looks.

    *Boxers and briefs

    Nothing much to be said here. A man’s underwear is a must- have accessory.

    *A pair of good ‘solid’ black and brown shoes

    The colours, black and deep brown, will blend with most fabrics. A man should have several pairs of shoes, but owning two pairs of black and two pairs of brown shoes is ideal.

    *Wristwatch

    Wristwatches are particularly important for meetings and appointments. There are some sophisticated ones that display the day, date, month and year. Some even have past and future dates and months. A few ones like Rolex also serve as status symbols. They differentiate between  boys and  men.

    *Blazer

    A cool blazer is definitely a must-have item, and the styles available really give blazers a life of their own. Do not go for wild colour, rather go for neutral tones that can easily be worn with jeans and as well as a dress shirt or with a printed tee underneath.

    *Palm or flip flop sandals

    This simple and comfortable men’s footwear goes well with casuals, but some men still wear the stylish ones for their formal outings. These slippers are essential part of a man’s wardrobe. They can be used to dress up or down, depending on the occasion. And they are also good for leisure and for moving around the house.

    *Fitted carton-coloured chinos and black trousers

    Fitted trousers are classic, perfect for formal or more casual occasions. The details on the  pinstriped trousers will spice up what otherwise might be an ordinary ensemble.

    *Ties

    As we all know, ties are like ornaments because they bring out the best of men’s style and personality. We have to take note of the importance of putting the appropriate type of ties for the right event.

    *Striped shirts

    They are the best among the different patterns of shirts that we have. Plain shirts always look too official and are mostly worn on suits, but striped shirts could be worn as office or ceremonial wear. That is why most designers have some sort of striped shirts or another. Striped shirts are more fitting, elegant and cool than plain shirts. For leisure, you can wear a striped shirt without tucking it in, but if you try that with plain shirt, you will certainly look out of place. Just get one. It can be worn independently with jeans, with a suit or under a sweater. It is easy to incorporate into any ensembles.

    *Cuff links

    They are the rave and it is for a reason: nothing gives your shirt a classier look than a nice set of good quality cuff links.

    *Jeans

    The last few years have seen jeans take a greater portion of our wardrobe. And it seems every few months a new, high-end jeans company pops up. From dark to light washes, there is so much variety that there is no excuse for not picking up a pair that enhances your best features. Most importantly, jeans can be paired with just anything. With jeans, you just can’t go wrong.

  • Items are sold more expensive in malls

    Ever wonder why sales at the malls by the tenants tend to be more expensive when compared to the open market? These tenants say some things are responsible. There is a common believe that malls are arena meant only for the wealthy class. To Some people, a mall is an expensive place to go shopping as prices of items could be two times that of its open market counterpart. Some mall tenants spoke on the reason for this. Mr. Muyiwa Adebayo owns a footwear store in a mall, he said: “One of the reasons why what we sell here in the mall is higher than other places is because of the rent we pay to the mall owners and management. The rent here is very high, and services we render is second to none.” He said

    Adding that the quality of products at the mall is guaranteed, he said “we can give you assurance that the things you get here is of good quality”.

    Mrs. Titi Elegbede of Wrangler store also gave a similar reason as to why items at the mall are quite expensive compared to other places. “The only reason why we sell higher is because of the rent we pay.  It’s very expensive to get a shop here and the only way we can recover our money and make profit is to increase the prices of our wares.” Elegbede said not all items at the mall are expensive. “Some of our items are cheaper but the expensive out number them”.

    At Health plus, Samson Ikuopami said the rent and importation rate is what is responsible for expensive items at the mall. He said one advantage of patronizing the mall is being able to trace stores where faulty items are bought for refund. “Faulty items can easily be returned to the store where they are purchased from”.

    At Accessories 2 die 4, an accessories store, reason items are more expensive in malls is because our customers have to pay for services rendered apart from paying for items bought.

  • ‘Open market best for baby items‘

    ‘Open market best for baby items‘

    Buying baby items for an expectant mother is an important aspect of pregnancy. Some of these items range from baby wear, bed-cot, dippers, flask, baby carrier, cardigan, cap, socks, baby walker, and feeding bottles.

    Although they are found everywhere, to get cheap bargains, the open market is the best place to visit.

    At the Ikotun market, Lagos, baby items are displayed to attract customers; merchants stand by the road side leading to the market to distribute their business cards to their target – pregnant women-  to enhance patronage.

    Mrs. Shade Ogundigba is a sales representative at Twins Faga, a baby store in the market. She said baby items are sold at cheap prices at the market. “We sell baby items here at wholesale prices for people who want to buy them to resell. We do not only stock cheap items, they are of good quality, so far, and we have been experiencing huge patronage because of our unique selling point which is affordability,” she added.

    However, prices of these items are determined by the brand. Baby wears range from N300 to N1, 000. Socks and caps go for between N200 and N500. A small size baby bed sells for N3, 000, while the big size is N9, 000. A small baby carrier is N3,000 and a big one is N9, 500. Baby wipes and dippers range from N200 to N 1, 000. Baby feeding bottles cost between N1, 000 and N3,000, walker sells for N4, 000 for the small size and N 10,000 for big size. Flasks go for between N1,500 and N 5,000, while a shawl and a blanket cost N 5,000 each

  • Hustle, bustle of shopping for school items

    With a new academic session fast approaching, it is time to shop for school items.

    Buying such items at the beginning of a new academic session can be challenging for parents, particularly the busy ones.

    In a world where many children are struggling with academic overload and growing demands on their time, parents are expected to provide them with the materials to ease their learning.

    Parents can make the best use of this weekend to shop for their children’s’ needs.

    This is the period parents flood shops selling school items to buy things their children need for the new session.

    For prudent management of the funds available, parents should make a list of everything their wards need and work through it; they should tick off items as they buy them.

    Divide your list into two; one part for those items you need to purchase once in a session —schoolbags, scissors, textbooks, cardigan, shoes, uniform and others. The second part should have items that will be replenished during the school year, like notebooks, stationeries and other consumables.

    The list will also ensure you don’t buy more than you need or spend more then you have.

    It is proper for school supplies to be bought before resumption. It saves stress and money. Being ready when it counts matters.Avoid last-minute trips to the stores.

    Endeavour to shop with your children. It is interesting, fun and less stress for you. You are sure to get more comfortable items for them, because they will be opportuned to pick what they want and what suits them most.

    Like everything else, school items have fashion trends. Don’t let your child end up disappointed if all the latest designs are sold out before you get to the market.

    The Nation Shopping spoke to some parents while they were shopping at the Idumota Market, Lagos, during the week.

    Mrs Theresa Omokaro, a housewife, said “I am now doing the last set of shopping for items like stationery and shoes. It was easy getting all items since the prices are still reasonable. I have four children who go to school; I have been able to get uniforms for them. The only problem I have is the branded items such as Hannah Montana lunch box which my children like; it is more expensive. Aside that, I have got everything else.”

    Mrs Latifat Usman , also a housewife, said “I have three children in secondary school and I’m finding it very difficult because of the prices and I am a single parent. Since 2005, I have been taking care of my children on my own since I do not receive any help from their father. So, I have to walk so that I can find prices which will suit my pocket; I have to do lots of walking to find the right places to buy from too. Time is catching up with me since this is the last week of shopping so I have to try to get some bargains on the items I still have to buy for my children.”

    Mrs Elizabeth Otoide, another housewife, said: “I find this shopping harassing because I have to do much searching. However, I have managed to buy the majority of items needed for school. Now, all that is left are the smaller items which I am buying right now. The prices are reasonable, so, it makes it easier to pick up the necessary stuff for my two kids. I will finish my last minute shopping today,” she said.

    Don’t leave it too late to start shopping for essential items for a new term, particularly shoes and uniform. You might end up not getting your choice and the child’s size. Buy items that enhance the school year for students.

    Some school supplies are necessary year after year, no matter what class a child is in. When planning for a new school year, it is safe to invest in Colored pencils, Eraser, Graph paper, Hand sanitizer, Organizer/planner, Pocket dictionary, Public Library card, Scissors for boarding students, Markers, Paper clips, Pens/pencils, Pencil sharpener, Spiral notebook, Tissues, razor blade, etc.

    However, extra supplies will be necessary. Requirements differ from school to school and class to class.

     

    Shopping for school bags and lunch boxes

    When it is time to start a new school year, most kids want a new school bag and lunch box. Therefore, when shopping for a school bag, look for sustainable materials, like leather, wool,or cotton.

    Stainless steel water bottles

    Stainless steel water bottles keep your children free from plastic toxins. They also last a longer time, so these bottles can be used for more than one year. Kid Konserve stores situated in Lagos Island makes some great sustainable lunch kit, with complete recycled organic cotton napkins, cotton lunch bags, stainless steel food containers and drink bottles.

     

    Note books, pens and pencils

    You can purchase these items in bulk, which helps keep the cost down. Pencils and pens either come in wood or plastics. They are of different colours and designs. Each pack cost less than N500

     

    Uniform

    When purchasing school uniform, look for good cotton fabrics, they last longer. The manufacturing of clothing has become a chemical based process, so avoid these harmful chemicals by purchasing natural fabrics.

    Art supplies

    Crayons are one of the school supply staples for young children. Unfortunately, traditional crayons are used mostly in schools today, probably because they are cheaper. The penciled crayon are better but more expensive, they are also higher in quality. They produce a smoother and richer colour when used. When looking for earth friendly markers and highlighters, search for brands that are made of plastic. The Red apple school supply is a store where you can find a variety of earth-friendly art supplies also situated in Lagos Island.