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CBN Lauds EDC on Training



Africa Leadership Forum Secretariat

Impressed by the success of an ex-trainee of Entrepreneurship Development Centre (EDC), Lagos, the Central Bank of Nigeria (CBN), has commended the Centre for evolving a system of training that facilitates the growth of small businesses.

This commendation was given by an official of the apex bank, Mr. Muhammed Dawa, during a field visit to ex-trainees. Mr Dawa was in company of two EDC specialists, Mr. Victor Malaolu of the Monitoring and Evaluation unit and Mr. Adetoro of the Business Development unit, to participate in the evaluation exercise.

The destination of the experts was Beckon Nigeria Limited. Mr. Samuel Olubobokun, the subject of CBN's accolade, is the Managing Director of the company, located in Ogun State.

Mr Olubobokun told the visitors that the training he received at EDC, Lagos helped his business grow in many ways. He lauded the training modules of the Centre and said he had become a better manager.

According to him, the adhesive producing company was rapidly growing as a result of the changes he made in its management.

“I was combining so many things together. But then came the opportunity to acquire business training at EDC, Lagos,”Mr Olubobokun said. “Now as result of the training, I am able to separate my personal interest from the business by employing a general manager who now oversees the day to day running of the company.

“The experience has been great. Since I came back from the training nothing has been the same again. The company now operates a regular organogram clearly defining personnel and their functions. I experienced turmoil. I was gloom all over the place but the training especially, that on management, has really helped.

“It did not take long before the changes came. The business experienced a turn around and we began to produce new products and that has resulted in more sales and of course, more income for the company.” The CBN official, after listening to the entrepreneur, expressed satisfaction with his progress. He praised the EDC, Lagos for its efforts in training people like Mr. Olubobokun and advised the Centre to always stand by their graduates in accessing credit facilities.

The monitoring visit also afforded the CBN official opportunity to shed more light on the rationale behind the establishment of EDCs, saying it was an initiative for the economic empowerment of Nigerians. “Entrepreneurship Development Centres were established for the purpose of equipping people, with entrepreneurial skills so that they can be self employed and consequently be employers of labour.

“Nigeria should stop the illusion of everybody getting white collar jobs. All over the world, self employment through small and medium scale enterprises is replacing the multinational corporations in providing employment. The big companies can only employ thousands. Getting jobs for teeming millions is in the hands of small scale entrepreneurs. The good thing is that EDC, especially with what I have seen in Lagos centre, is up to the task of empowering Nigerians, especially the youths.”















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