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On How SMEs Can Attract Clients

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Your prospective cus
tomers are talking all day long. They’re showing up on Social Media e.g. Facebook talking about their dreams, their worries and their fears.  Forums are filled with prospective buyers who are looking for someone who will give them a listening ear.
Gone are the days of “Big CEO and Company” going into the marketplace with an announcement that draws millions. Telling the market what they need doesn’t work. The question might really be, did it ever?
Your present and future clients are savvy and they are smart. They won’t fall for the old “Straight Talk Method” much like a teacher messages, any longer. They aren’t listening and they don’t care. But they do want you to hear.
Will you hear their pain? Feel their needs and pay attention to what wakes them up in the middle of the night? Listen to what your customers are asking for. Listen to what your competitor’s customers are saying too. Lean in. Pay very close attention. Listen to the “chatter” and take copious notes. There’s no reason to go without this information that is steadily flowing. The key to big profits in today’s market is a good “listening ear”.
What do they need? Your clients are very aware of what they need. But when you enter the marketplace a bigger issue must be faced. Are YOU aware of what they need?  This is the real issue when it comes to selling products or services. The reality of being successful in sales is summed up in this principle: People are looking to have their needs met. Period.
You can bring joy, security, and satisfaction to them as you serve them what they want and as they come to know you even better, you can serve them again and again. This is brand loyalty and long-term business in the making. It might sound crazy, but to the successful business owner, it’s Business 101. As a Small Business Consultant, I have done this strategically for some firms in Port Harcourt here faced with customer acquisition problem, I advised them…we did a survey and did some test-marketing of what the target group wants and we worked out modalities in the product specification and needs as desired by the customers and it was successful, so it works for our environment.
What are they complaining about? If you pay attention online through forums, chat groups, social media and other places people hang out, you’ll quickly learn what they need. It’s right there for anyone to discover. But it takes time to pay attention and, sadly, far too many companies aren’t listening.
Amid all the headlines of dropping profits, increased layoffs and lost investments, Boko Haram insurgence, something has remained the same that only a select few are paying attention to. People are still buying what they love, dreaming about what they want and making it plainly obvious what they don’t like!
Solve a problem with a unique solution and you’ll make a huge profit. If people really love your solution, get great satisfaction and you treat them better than anyone else, you will never lack as a company. And if you pay very careful attention to your client’s growing needs, you could easily create a long-term business. Pretty simple, isn’t it?
Are people disillusioned and unaware? Another great key to long-term profits is in becoming a resource that people can turn to and trust. Revealing hidden information, making difficult things simple and serving as an expert is a great way to grow a company.
It is my belief that we are at a critical time in history when people really do want the right information, they desire change and truly do want to know the truth. This is also a vulnerable time where less than commendable or reliable so-called experts are teaching things they know nothing about.
Institutions fill our heads with notions of “security” and “long-term dreams” when the sad reality is this: if you don’t market a product that is highly in demand, you’ll have an extremely hard time making a profit. Pay very close attention to what people are asking for. What are your customers struggling with? What do they want? What are they seeking? If you can give it to them, with value and excellence, you’re on the verge of huge success.
The marketplace pays for value. Your value is directly related to how much you can bring to the people you serve. If you help those who are unaware, confused or even disillusioned you could be personally responsible for helping others change their lives. This is one of the most fun ways to build a business. Bring value and change to your customers and they will love you forever.
Give it with excellence and honour. Excellent customer service seems to have left the face of the earth. Business owners are watching their bottom line more than the satisfaction of the customers they serve. This has not helped our economy one bit and needs a serious change. Talk about needing a revival in the marketplace. Where are the happy service representatives, CEOs who can’t wait to serve and product developers who dream of inventions at all hours of the night!? If you serve people with excellence and honour, you will be remembered forever. Because it’s so rare, you could quite frankly triple your profits if you do it long term. While it might not be easy, it surely isn’t popular and it isn’t something you even hear about much any longer in business school, it is always and has always been right.
Goodwill and honour will pay you much more and it will always leave you with a good night’s sleep. But what defines goodwill? Is it being available to your customers 24/7 through social media for every question or notion they might have? No. Not at all. But it does mean that when you are open, you give with all of your heart and with all that you have. Serve with excellence and honour and you’ll rise to the top!
Nwokocha is a Port Harcourt-based business consultant

 

Smith Nwokocha

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FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions

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The Federal Inland Revenue Service has said that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments, and improve long-term fiscal stability.
The agency also clarified that the much-debated four per cent development levy on imported goods is not a new or additional tax burden, but a streamlined consolidation of several existing levies.
According a statement released Wednesday, one of the most misunderstood elements of the new tax framework is the four per cent development levy with the agency explaining that the levy replaces a range of fragmented charges — such as the Tertiary Education Tax, NITDA Levy, NASENI Levy and Police Trust Fund Levy — that businesses previously paid separately.
This consolidation, it said, reduces compliance costs, eliminates unpredictability and ends the era of multiple agency-driven levies. The law also exempts small businesses and non-resident companies, offering protection to firms most vulnerable to economic shocks.
Another major clarification relates to Free Trade Zones. Earlier commentary had suggested that the government was rolling back the incentives that have attracted export-oriented investors for decades. However, the reforms maintain the tax-exempt status of FTZ enterprises and introduce clearer guidelines to preserve the purpose of the zones.
“Under the new rules, FTZ companies can sell up to 25 per cent of their output into the domestic market without losing tax exemptions. A three-year transition period has also been provided to allow firms to adjust smoothly.
“Government officials say the reforms aim to curb abuses where companies used FTZ licences to evade domestic taxes while competing within the Nigerian market”, it said.
With the new measures, Nigeria aligns with global FTZ models in places like the UAE and Malaysia, where the zones function primarily as export hubs for logistics, manufacturing and technology.
The introduction of a 15 per cent minimum Effective Tax Rate for large multinational and domestic companies has also been met with public concern. But the FIRS notes that this policy aligns with a global tax agreement endorsed by over 140 countries under the OECD/G20 framework.
Without this adoption, Nigeria risked losing revenue to other countries through the “Top-Up Tax” mechanism, where the home country of a multinational collects the difference when a host country charges below 15 per cent. By localising the rule, Nigeria ensures that tax revenue from multinational operations remains within its borders.
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CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation

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The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.

In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.

However, with time, the need has arisen to streamline these provisions to reflect present-day realities.

The statement said the new set of cash-related policies is designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency.

“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.

“With the effluxion of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,”

“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.

According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.

Daily withdrawals from Automated Teller Machines (ATMs) would be capped at N100,000 per customer, subject to a maximum of N500,000 weekly stating that these transactions would count toward the cumulative weekly withdrawal limit.
The special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly has been discontinued.

The CBN also confirmed that all currency denominations may now be loaded in ATMs, while the over-the-counter encashment limit for third-party cheques remains at N100,000. Such withdrawals will also form part of the weekly withdrawal limit.

Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.

They must also create separate accounts to warehouse processing charges collected on excess withdrawals.

Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.

However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.

The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.

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Shippers Council Vows Commitment To Security At Nigerian Ports

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The Nigerian Shippers Council (NSC)has restated its commitment towards ensuring security at Nigerian seaports.
Executive Secretary/Chief Executive Officer of the Council, Dr Pius Akuta, said this in Port Harcourt, while declaring open a one day workshop organized by the Nigerian Shippers Council in collaboration with the Nigerian police( Marin Division).
Theme for the workshop was ‘Facilitating Port Efficiency; The strategic Role of Maritime police “
Akuta who was represented by the Director, Regulatory Services, Nigerian Shippers Council, Mrs Margeret Ogbonnah, said the workshop was to seek areas of collaboration with security agencies at the Ports with a view to facilitating trade
Akuta said the theme of the workshop reflects the desire of the council and the Nigerian police to build capacity of police officers for better understanding and administration of their statutory roles in the Maritime environment.
He said Nigerian seaports has constantly been reputed as one of the Port with the longest cargo dwell in the world, adding,”This is so, because while it takes only six hours to clear a containerized cargo in Singapore Port, seven days in Lome Port, it takes an average of 21 days or more in Nigerian Ports” stressing that this situation which has affected the global perception index on Ease of Doing Business in Nigerian seaports must be addressed.
Akuta said NSC which is the economic regulator of the Ports has the responsibility of ensuring that efficiency is established in the Ports inorder to attract patronages.
“Pursuant to its regulatory mandate, the NSC has been collaborating with several agencies to ensure the facilitation of trade and ease of movement of cargo outside the Ports to avoid congestion”he said.
Also speaking the commissioner of police, Eastern Port Command, Port Harcourt, CP Tijani Fakai, said Maritime police has played some roles in facilitating Ports efficiency.
He listed some of the roles to include ensuring security and crime prevention at the Ports, checking of illegal fishing activities at the Ports, checking of human trafficking and drug smuggling and prevention of fire incident at the Ports.
Represented by ACP, Rufina Ukadike, the CP said police at the Ports have also helped in the decongestion and prevention of unauthorized Anchorage.
He commended the Nigerian Shippers Council for the workshop and assured of continuous collaboration.
Speaking on the dynamics of cargo handling, Deputy Controller of customs, Muhydeen Ayinla Ayoola, said the launching of electronic tracking system and dissolution of controller General Taskforce has helped to ensure efficiency at the Ports.
Ayoola who represented the custom Area Controller Port Harcourt 1 Area command, however raised concerned over rising national security threat , which according to him has affected efficiency at the Ports.
John Bibor
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