SECTION ONE

1.0 INTRODUCTION

1.1 STUDENTS’ INDUSTRIAL WORK EXPERIENCE SCHEME (S.I.W.E.S): THE

CONCEPT AND ITS MEANING

The Students’ Industrial Work Experience Scheme (S.I.W.E.S) is a system imbued

with the ability to provide tertiary-level students with the opportunity of gaining

practical-based work experience in relation and addition to what they have learnt in

school within the time framework of their undergraduate academic tutelage. It is

designed to prepare students for the industrial working situation they will likely face

after graduation by bridging the gap between theory and practice.

The Federal University of Technology, Akure (F.U.T.A.) being a tertiary

institution with the vision of producing technologically sound and self-reliant graduates

has made the SIWES programme an integral part of the requirements for the award of

Bachelor of Technology graduate degree for her students.

The Students’ Industrial Work Experience Scheme (S.I.W.E.S), a programme

initiated by the Federal Government is organized and managed by the Industrial

Training Fund (I.T.F.) for a period of 3 months to 1 year depending on the institution

involved. The SIWES programme was initiated by the Federal Government in 1971

during the second national development plan under decree number 47 of 1971. It was

saddled with the responsibility of promoting and encouraging the acquisition of skills in

commerce and industry with a view to generating numerous locally trained manpower,

sufficient to meet the needs of the country.

The duration of the programme in FUTA is six months for fourth year (400

Level) students commencing from the end of the first semester of their academic

session.

1.2 OBJECTIVES OF SIWES

The Students Industrial Work Experience Scheme (SIWES) aims at:

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1. Enhancing the industrial skill acquisition and work experience of students thus

augmenting their theoretical knowledge to make them efficient at solving the

practical problems of the work environment.

2. Ensuring the involvement of the related industries and organizations in the

training, education, exposure and development process of the students which

they will in turn recruit as their staffers after their academic experience.

3. Exposing students to different categories and classes of people to improve their

people skills, interactional abilities and team spirit and enhance their abilities to

build positive working relationships with a wide range of individuals and

organizations.

4. Increasing the marketability and entrepreneurial skills of students by exposing

them to the odds of fieldwork and the challenges of meeting personal and

organizational expectations by preparing students for the industrial situation

they will likely meet after graduation.

6. Affording students the additional opportunity of learning how to write field

reports.

7. Contributing to the quality and size of the nation’s manpower, technological

development and overall skill levels.

1.3 OBJECTIVES OF THIS REPORT

The objectives of this report include the under-listed:

1. To put into writing the practical experience gained and industrial knowledge

acquired during the SIWES programme at Resort Securities &Trust Limited Head

Office.

2. To offer useful suggestions and proffer recommendations as the case may be.

SECTION TWO

2.0 THE S.I.W.E.S SITE: RESORT SECURITIES & TRUST LIMITED

2.1 THE ORGANIZATION AND HER HISTORICAL BACKGROUND

Located on the 10th floor, NECOM House, 15 Marina, Lagos, Resort Securities &

Trust Limited, a private company limited by shares was incorporated in Nigeria on 18

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May, 1990 as a non-banking financial institution to “carry out inter-alia, capital market

operations, corporate finance series and investment advisory functions.”

Providing capital market services vis-a-vis stock-broking, issuing house

functions, bonds/debentures and equities trading, sourcing of loan stocks, capital

sourcing and trading of annuities, mutual funds and unit trust holdings, Resort

Securities & Trust Limited also offers corporate finance packaging services vis-a-vis

investment advisory functions and consultancy, hybrid of equity projects,

fund/portfolio management, feasibility studies, management services and many more

within the scope of her operational capabilities.

With an eleven-member board chaired by Femi Ekundayo (Esq.), an

accomplished management executive and entrepreneur, also a fellow of both the

Institute of Directors (IoD) and the Chartered Institute of Bankers of Nigeria (CIBN), the

company’s assets are currently in excess of N2 billion with 15 shareholder funds in

excess of N1 billion. Led by Mr. Nyemike Ogbechie, a seasoned stockbroker who is the

Managing Director, the top management team comprising of Alhaji Jibril Ibrahim, the

Executive Director and Mr. David Olusegun Adefolaju, a fellow of the Chartered Institute

of Stockbrokers (CIS) who is the Assistant General Manager has a combined

brokerage/financial experience in excess of 50 years.

The Head Office oversees the operations of branches in Abeokuta, Abuja, Ado-

Ekiti, Port-Harcourt, Warri, Kano, Ikeja, Lekki, Onitsha and Owerri all of which are

established in tandem with the requirements of the Nigerian Stock Exchange (N.S.E).

Currently among the top 10 players in the business of stock-broking in the

Nigerian Capital market, Resort Securities & Trust Limited aims to expand its tentacles

to other African countries at the conclusion of the on-going process to integrate and

merge all African capital markets.

2.2 VISION, MISSION AND CORE VALUES OF RESORT SECURITIES & TRUST

LIMITED;

Just like every corporate entity that aims at making giant strides in its operating

sector of the economy, Resort Securities & Trust Limited has a well defined three-

pronged vision that propels it to action. Its vision includes:

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1. Becoming a leading financial service organization with great reputation for

efficiency

2. Rising to the pinnacle of brokerage business and becoming one among best three

brokerage firms in Nigeria and best ten in Africa.

3. Ensuring customer satisfaction to the highest level possible.

The company’s mission statement which defines in precise and unambiguous

terms the type and quality of service it will strive to provide entails “being committed to

excellence using well-equipped and a highly motivated workforce for customer delight

and enhanced stakeholder values.” This mission statement is hinged on the belief that a

company’s mission determines the quality of service it will render, while the service

rendered produces a public image or client perception which in turn culminates into

financial profitability/reward.

Her core values which serve as the bedrock upon which the mode and quality of

her relations and interactions with both corporate and individual clients are built are

contained in the acronym ‘FITED’ meaning:

F- Friendliness

I- Integrity

T- Team Spirit

E- Excellence

D- Dedication

2.3 ORGANIZATIONAL STRUCTURE OF RESORT SECURITIES & TRUST LIMITED

Resort Securities & Trust Limited has a typical modern-day organizational

structure. A board consisting of 11 directors headed by the board chairman sits atop the

hierarchical chain of organization. This board meets at an agreed periodic interval to

deliberate on decisions relating to the direction, financial state and overall business of

the company. The board directors along with other executive shareholders also meet

with the management team at least twice each financial year to evaluate the company’s

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profitability and vote on decisions bordering on dividend pay out and other important

financial issues.

The everyday activities of the company are manned and overseen by the

management team. Though led by the Managing Director, the team which includes the

Executive Director and the Assistant General Manager who also doubles as the Head of

Business Development Department collaborates with the various heads of departments

who are next to them in the leadership chain. Staffers of the seven departments form

the workforce that carry out the daily business of the company. The professional staff

members some of whom are chartered stockbrokers are placed higher ahead in the

organizational structure ahead of the non-professional staff members (drivers, cleaners,

security guards, office assistants).

2.4 OPERATIONAL DIVISIONS OF RESORT SECURITIES & TRUST LIMITED

Providing an array of brokerage and corporate client functions, the seven

departments that make up Resort Securities & Trust Limited work closely together to

ensure maximum customer satisfaction, optimum efficiency and smooth running of all

her business operations.

The departments are as follows:

1. CUSTOMER SERVICE/FRONT DESK DEPARTMENT

2. BUSINESS DEVELOPMENT DEPARTMENT

3. OPERATIONS/STRATEGY AND CONTROL DEPARTMENT

4. FINANCE AND ACCOUNTS DEPARTMENT

5. INFORMATION TECHNOLOGY DEPARTMENT

6. HUMAN RESOURCES DEPARTMENT

7. FACILITATIONS DEPARTMENT

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SECTION THREE

3.0 BUSINESS SERVICES AND DIVISIONAL FUNCTIONS OF RESORT SECURITIES

& TRUST LIMITED

3.1 SERVICES PROVIDED BY RESORT SECURITIES & TRUST LIMITED

With the scope of her initiating Memorandum of Understanding (MOU) broadly

embracing the business of corporate finance packaging and capital market services,

Resort Securities & Trust Limited is involved in a wide range of non-banking financial

functions. The services offered by the company can be discussed under the following

two headings:

3.1.1 CAPITAL MARKET SERVICES

The capital market serves as a medium of exchange of equities and

shareholdings, a source of financial gearing and leverage for businesses and above all,

an institutionalized platform for investment and profit making.

In her capacity as a major player in the Nigerian capital market, Resort Securities

& Trust Limited provides client stock-broking services which include execution of

individual and corporate share purchase and sales mandates, cross-dealings, processing

of physical share certificates to the Central Securities Clearing System (CSCS) online

depository amongst a myriad of stock-broking functions. Also registered as an issuing

house, the company is involved in issuing house functions for public offers, private

placements, convertible redeemable bonds, debentures, treasury bills, unit trust

holdings, mutual funds, annuities, loan stocks and much more.

The company as well facilitates the ‘listing by way of introduction’ of companies

wishing to go public (i.e. becoming listed on the Nigerian Stock Exchange) and helps

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already listed companies to ensure that their business are carried out in line with the

dictates of the Nigerian Stock Exchange (N.S.E) and Securities and Exchange

Commission (S.E.C). Providing capital market investment services, Resort Securities &

Trust caters for the needs of high net worth individual and organizations such as asset

management companies, pension fund managers/administrators, pension fund

custodians, insurance companies, discount houses, state governments, ministries,

mutual benefit organizations etc.

3.1.2 CORPORATE FINANCE PACKAGING

Covering a wide range of services from fund/portfolio management, investment

advisory functions to amalgamations, liquidations, mergers, management services,

feasibility studies and consultancy, corporate finance packaging covers numerous issues

bordering on funds and its management.

Making investment advisory decisions and financial projections based on

feasibility studies from a standpoint of profit, Resort Securities & Trust Limited offers

consultancy services on existing product line/packages and expanding businesses.

Facilitation of business mergers, absorptions and amalgamations as well as liquidations

are all part of her professional capabilities and functions.

Management of client portfolios and their investment packages at various

discretionary levels and maturity tenors as well as fund management based on

negotiated terms form the core of the company’s Asset/Portfolio/Funds Management

Service package.

3.2 OPERATIONAL DIVISIONS OF RESORT SECURITIES & TRUST LIMITED AND

THEIR SERVICE LEVEL MANDATES

Every operational division/department of the Resort Securities & Trust Limited

is saddled with the responsibility of ensuring that all her service level mandates (i.e.

designated duties) are taken to with all sense of dedication and commitment. The

operational divisions and their responsibilities are as follows

3.2.1 CUSTOMER SERVICE/FRONT DESK DEPARTMENT

The department as the name implies caters for all customer enquiries, client

complaints and official correspondences. Providing answers to questions bordering on

client account details and cash balance, stock-holding positions, transfer certificates

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processing state, certificate lodgement details, transaction alerts etc, the customer

service department ensures that all clients are satisfied to the maximum level possible.

Staffers of this department make all efforts to respond satisfactorily to all

enquiries presented either physically or electronically via phone calls, faxes or e-mails.

They also refer clients to the relevant departments on matters requiring further

clarification and ensure that all official correspondences are followed up. The staffers of

this department are responsible to the Head, Department of Strategy and Control.

3.2.2 BUSINESS DEVELOPMENT DEPARTMENT

With a service level mandate accommodating a wide range of key

responsibilities, this department can be said to be the power centre of the company. The

department covers responsibilities bordering majorly on revenue mobilization and

client base expansion as well as budgeting, branch co-ordination and funds allocation,

corporate liaison roles, fund/portfolio management and corporate conflict resolution.

Her functions also include the processing of indemnity documents, ‘no-objection’

documents for credit facilities, service level agreement (SLA) negotiations, client

business briefings, agency commissioning, marketing activities etc.

Staffers of this department secure clients –corporate and individual– seeking to

transact business in the capital market, and make efforts to route such dealings through

the company to secure a brokerage commission and ensure profitability. They also

serve in advisory and decision-making capacities as portfolio/fund managers providing

qualitative overall market analyses, professional portfolio evaluation, price projections,

market indices analyses, portfolio briefings and as many conditions negotiated with the

clients whose portfolio(s) are in focus.

Their responsibilities entail “all activities officially pronounced or otherwise

with inherent opportunities of expanding the marketing frontiers and client base of the

Resort Securities & Trust Limited.” Their service level mandate is to “bring business to

Resort Securities & Trust Limited and ensure that the business is done.”

3.2.3 OPERATIONS/STRATEGY AND CONTROL DEPARTMENT

The activities of this department can be explained under these under-listed

headings:

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(a) Transaction jobbing and Trade-running: Before the close of work each day,

this department collates all duly authorised transaction mandates (purchase,

sales and cross-deals) and key them into the jobbing book for the next day’s

trading at the company’s trading booth on the Stock Exchange floor and the

online trading terminal at the office. This involves making calculations on

purchase prices, price limits and quantity to be purchased or sold within the

range of such a client’s available account balance (for purchase mandates) and

stock-holding position (for sale mandates). At the end of each day’s trading, they

run the day’s trade, ensure that all trade details are updated and check for

deviations from the duly authorised transaction mandates for rectification.

(b) Share transfer processing and Registrar functions: Also involved in the

process of transferring physical share certificates of companies issued to owners

of such share securities purchased on the primary market through public offers,

private placements, reconstructions etc., to the online depository on the Central

Securities Clearing System (C.S.C.S), this department ensures the smooth sailing

of share transfers and transmissions. They ensure that documents such as

banker’s confirmation, indemnity documents, sworn affidavits, court injunctions,

newspaper publications of death, death certificates (for estate accounts)

required by the various registrars of such companies for this process are made

available by the clients to ensure a speedy and hitch-free share transfer process.

Representations are also made by this department on behalf of the

company at various Registrar offices as at when required, clarifying knotty

issues, ensuring speedy processing and following up on all official

correspondences with registrar companies.

(c) Client account registration and Stock Exchange relations: When new client

accounts are opened, they have to be registered with the Stock Exchange and put

on the Central Securities Clearing System (CSCS). This department ensures that

this is perfected within the shortest time possible for such clients to commence

transactions and dealings. The department also caters for matters such as

transaction alert registration, change of name, change of address, client account

viewing clearance etc., and other documents required to be submitted to the

Nigerian Stock Exchange office for processing.

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(d) Internal Control and Standards Compliance: This involves ensuring that the

financial activities of the company are carried out in compliance with industrial

standards, internal code of conduct and acceptable ethical boundaries.

3.2.4 FINANCE AND ACCOUNTS DEPARTMENT

Commissioned to ensure a healthy financial state of the company, this

department carries out various functions.

Being a non-banking financial service organization, Resort Securities & Trust

Limited does not accept cash thus making commercial banking and its attendant

responsibilities inevitable. Acceptance and clearance of cheque deposits, bank

overdrafts, bank transfers, international money wires, bank cash lodgements etc., are

done by this department. They receive updated account statements of the company

from all banks commissioned to carry out business on her behalf on a daily basis so as

to ensure that the internal books of the updated in line with all customer deposits and

withdrawals.

Issuance of cheques, internal auditing, provision of profitability indices and

financial internal control documents are all done by this department. They also make

representations on behalf of the company when occasions for financial expertise arise at

banking houses, corporate financial departments, negotiation tables and industrial

standard control organizations.

3.2.5. INFORMATION TECHNOLOGY DEPARTMENT

Overseeing all matters relating to information and communication technology,

this department is in charge of providing the most reliable and advanced technology

within reasonable and acceptable budgetary limits required for the daily business of the

company.

Networking and maintenance of the company’s computer systems and

communication lines at various clearance levels, provision of adequate security to the

company’s website and online office are all part of the department’s functions. They are

also saddled with the responsibility of selecting from the plenteous midst of available

financial programming packages those most suitable for the daily business of the

company.

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The department is also involved in the production of the company’s official

newsletter, official brochures as well as the updating of the company’s website,

programming packages and daily trading and transaction details.

3.1.6 HUMAN RESOURCES DEPARTMENT

Involved in a group relationship with companies such as DVCF Oil & Gas Limited,

Resort Savings & Loans Plc., Resort Consult Limited, and Resort Developers Limited

under the central headship of DEAP Capital Management & Trust Plc, Resort Securities

& Trust operates a group Human Resources Department

Though having the home office is situated at the group headquarters with DEAP

Capital Management & Trust, the department makes concerted efforts to ensure that its

presence and reach is visibly felt in all the companies involved in the group relationship,

Resort Securities & Trust Limited inclusive.

The department’s responsibility entails ensuring a satisfied and highly motivated

workforce to ensure in turn, maximum client satisfaction. The department oversees

matters such as staff promotions and appointments, allocation of leave periods,

recruitment and redeployment of staff members as well as maintenance of discipline,

control and compliance with company rules, job ethics and code of conduct among staff

members. This department also metes out punishments when required to erring staff

members and rewards to staff members who have proven worthy of such.

3.1.7 FACILITATIONS DEPARTMENT

The functions of this department involve ensuring the facilitation of all official

matters and the smooth running of the details concerning the daily operational

activities of Resort Securities & Trust Limited. All non professional staff members of the

company such as drivers, cleaners, office assistants and security guards work under this

department.

The activities of this department are overseen by the departmental head who

also doubles as the Secretary to the Managing Director. Designation of drivers and office

assistants for official assignments within and outside Lagos are all responsibilities

within the operational ambit of this department.

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SECTION FOUR

4.0 THE S.I.W.E.S EXPERIENCE

Though primarily attached to the Business Development Department of Resort

Securities & Trust Limited during my SIWES programme, I had the opportunity of

carrying out assignments, job descriptions, responsibilities, and learning processes that

cut across all departments of the company.

The activities I was involved include the following:

4.1 E-JOBBING AND EXECUTION OF TRANSACTION MANDATES

Responsibility for all the branches of Resort Securities & Trust Limited lies with

the Business Development Department –the department I was primarily assigned to.

Since all share transactions are executed from the Head Office, all branches are required

to send copies of duly authorised share purchase or sale mandates to the Head Office

through online means. I was responsible for certifying the validity of documents

required to execute these mandates as well as jobbing (i.e. authorisation and

preparation for trade executions by the broker) all mandates that satisfy these

conditions of validity. This involves doing this in consonance with client conditional

preferences such as price limits, sectoral preferences etc.

4.2 FUND/PORTFOLIO MANAGEMENT

High net-worth clients and corporate organizations seek opportunities for

investment in the capital market. Such clients commission brokerage agencies with the

expertise to provide Portfolio Management services with a view to increasing the initial

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capital base and ensuring profitability. I had the opportunity of managing a few client

portfolios.

4.2.1 SERVICE LEVEL AGREEMENT (S.L.A.) NEGOTIATIONS

Negotiations involving the terms and conditions of work and service as well as

decisions on discretionary allowances and possible provisional amendments are all

deliberated upon at this stage by representatives from the companies involved. A

document agreeing to service level conditions is signed by the duly authorised

representative of the companies involved at the conclusion of all negotiations.

4.2.2 MARKET ANALYSIS, PRICE PROJECTION AND INVESTMENT ADIVSORY

SERVICES

Analysis of investment options and opportunities are provided to the investing

client and joint decisions are made as to what and how to invest the funds made

available. The Portfolio Management team makes stock recommendations based on

price projections and market analyses. However, since the discretionary levels of

portfolios differ, the account officer can make investment decisions totally based on his

personal interpretation, judgment and expectations of market conditions subject to the

agreement reached with the investing client at the service level agreement (S.L.A)

negotiation stage.

Stock recommendations are however made available to all clients (having

portfolio management agreements or otherwise) via the company’s weekly newsletter.

4.2.3 CORPORATE LIAISON/BUSINESS BRIEFING FUNCTIONS

At an agreed periodic interval, clients are briefed as to developments in the

capital market as well as their investment portfolios. Clients without a specified

portfolio arrangement also have unhindered access to their account statement, stock

holding position, contract notes, certificate lodgement details and all such documents

regarding their accounts they may request for.

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4.3 REGISTRAR FUNCTIONS

Registrars act as custodians and regulatory organizations concerning

information regarding share securities of various companies listed on the stock

exchange. Listed companies have the liberty of setting up their own registrar arms, so

long as they meet up with the requirements of the Nigerian Stock Exchange (N.S.E) and

Securities Exchange Commission (S.E.C) or appointing already existing registrars to act

on their behalf in an official capacity.

I had the opportunity of transacting various businesses with different registrar

companies on behalf of Resort Securities & Trust Limited. These activities include:

4.3.1 BATCHING, PROCESSING AND TRANSFER OF PHYSICAL SHARE

CERTIFICATES

For transactions to be possible on them all share certificates issued to the

owners during public offers, bonus declarations, private placements etc., they have to be

converted to the online depository format on Central Securities Clearing System (CSCS),

and these can only be done through stock-broking houses. The process involves

batching of these certificates with transfer forms and presenting them with all required

documents to the registrars on behalf of the client. Besides being involved in the

batching and processing of these certificates, I had the opportunity of catering for

special cases such as estate accounts (for the deceased), share transmission (in cases of

name changes) etc.

4.3.2 REVALIDATION OF STALE DIVIDEND WARRANTS/RETURN MONEY

When companies declare their profit at the end of their financial year at their

Annual General Meeting (A.G.M), decisions are made as to the issuance or otherwise of

dividend warrants. However since these warrants operate like cheques, though still

legally tenable, they expire after six months thus requiring revalidation. I had the

opportunity of providing revalidation services for clients by presenting the required

documents to various registrars on behalf of such clients so as to gain unhindered

access to their money. This involves provision of a covering letter, a letter of authority, a

valid means of identification and stock holding positions as the case may be.

4.4 PREPARATION OF FINANCIAL BOOKS

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Saddled with the responsibility of catering for the branches, the Business

Development Department where I was attached to prepares certain financial documents

for management decisions to be made. These include:

4.4.1 BUDGETING, COST ALLOCATION AND REVENUE PROJECTION

At the commencement of the new financial year, I was commissioned alongside

other staff members of the department to provide documents as regards budgeting, cost

allocation and revenue projection.

The process involved making recommendations based on the overall financial

situation of the operating area and incorporating them into a pre-designed budget

format in line with revenue expectations from the Head Office and all the branches.

4.4.2 WEEKLY/QUARTERLY/END-OF-THE-YEAR FINANCIAL REPORTS

At the end of each financial week, I was specifically commissioned to produce the

weekly report for the weekly management meeting alongside a senior colleague of the

Business Development Department. Preparation of this weekly financial report entails

calculations of brokerage commission due to share purchase and sales transactions as

well as calculations on revenue generated due to processing of certificates, indemnity

documents, ‘letter of no objection’ documents, embassy reference documents and other

miscellaneous sources of income.

I was also opportuned to participate in the preparation of two quarterly reports

and one end-of-the-year financial report. Cumulative figures derived from weekly

financial reports within the time span of the period being worked upon alongside other

important parameters are used in the preparation of quarterly and end-of-the-year

financial reports. The reports are then prepared in spreadsheet and graphical formats

with revenue generation levels broken down for all branches as well as the Head Office

serving as a tool for measuring effectiveness by the management and governing board.

4.5 REVENUE MOBILIZATION

Since the conditions of my industrial attachment were not as broad and stringent

as those of full time regular staff members, no revenue mobilization target was set for

me.

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I was however involved in helping secure a number of individual and corporate

new client accounts. Persuasiveness, tenacity, consistency, integrity, dedication and

transparency were key factors in winning the trust of these clients and securing their

financial commitment in opening and maintaining brokerage accounts and management

portfolios.

4.6 BRANCH MATTERS CO-ORDINATION

Certain information as regards client accounts and other related matters are

accessible only from the Head Office thus making it necessary for all branch offices to

maintain regular correspondence with the Head Office.

While all staff members of the Business Development Department attend to

branch matters, I was however designated to attend to certain specific issues ranging

from e-jobbing of branch transaction mandates, processing of branch indemnity

documents to processing of transfer certificates, client account details, stock holding

positions and all such requests as may be made by Branch Offices

SECTION FIVE

5.0 RECOMMENDATIONS AND CONCLUSION

5.1 RELEVANCE OF TRAINING PROVIDED

The relevance of the training afforded me during my SIWES period at Resort

Securities & Trust Limited cannot be over flogged. While certain aspects of the training

provided can be spoken of in quantifiable terms, the psychological benefits, confidence

gained, team-playing abilities acquired and human relations lessons learnt are difficult

to calibrate in quantifiable terms. I was afforded the opportunity of learning first hand

important lessons of life with inherent abilities of making patient and willing

individuals great successes in their chosen fields of endeavour.

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It is however important for evaluation purposes to state clearly the relevance of

training provided during my period of internship at Resort Securities & Trust Limited.

They include but are unlimited to the following:

1. I was able to observe first-hand the drivers of the capital market as well as

factors influencing transaction volumes and price volatility while understudying

market movements during a financial recession- a phenomenon that occurs only

once in a while.

2. I also learnt the basics of corporate finance packaging and the internal workings

of an archetypal corporate environment.

3. Adequately trained in the fundamentals and processes involved in

funds/portfolio management, I was commissioned to act in that capacity for

certain client accounts –a relevant experience in my training as a Manager.

4. I learnt a great deal about financing, capital sourcing and credit facility

processing for different types of businesses, agriculture inclusive.

5. Also, important lessons on human relations, team skills as well as initiating and

maintaining business relationships were learnt during my SIWES period.

5.1 RECOMMENDATIONS

Having undergone the statutory period for the SIWES programme, it is difficult

to feign ignorance of the reality of what obtains during scheme. While the concept and

philosophy behind the scheme deserves applauses, like every other major programme

in Nigeria, execution and maintenance are issues that need to be addressed.

In line with what has been said above, my recommendations as regards the

Student Industrial Work Experience Scheme (S.I.W.E.S) include the following:

1. When requested, efforts should be made by the concerned departments to

provide internship opportunities for their students in line with individual

preferences, academic strengths and future focus. This will help in reducing the

difficulty many students face in securing SIWES placements.

2. To encourage participating students and lend them credence at their place of

work, the University should make efforts to carry out industrial visitations to

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these students. It was observed across board that no student was afforded the

seeming luxury of industrial visitations by University representatives.

3. Also, to cushion the effects of transportation, feeding and accommodation costs,

stipends and allowances should be provided by the Industrial Training Fund

(I.T.F.) and/or relevant agencies and parastatals for students on SIWES to reduce

the financial burden thrusted on them during their SIWES period.

5.2 CONCLUSION

In conclusion, it is highly important to recognize that the Students Industrial

Work Experience Scheme (S.I.W.E.S) provides an ample opportunity for students to

acquire relevant training and industrial experiential knowledge as regards their field of

study.

The thrust of my quest to gain comprehensive insider knowledge of the capital

market is borne out of the fact that agriculture has failed to maximally utilize the

opportunities inherent in the capital market in Nigeria unlike what obtains in other

developed nations.

Providing an all important platform for capital sourcing as well as leveraging and

gearing opportunities, the capital market has the potential of providing for what proves

to be the major problem agriculture faces in Nigeria -adequate capital. It is important to

observe that the banking industry maximally utilized these same opportunities which

are abundantly available in the Nigerian capital market by attracting local and foreign

investors during their capital sourcing for the N25billion capital base benchmark for

banking institutions.

Noteworthy is the fact that the Nigerian capital market is the second most

prolific in the world in terms of dividend payout history and bonus declaration and as

such investors are willing to make financial commitments to business schemes with the

potential of generating profit. Therefore, farms, agro-allied and agro-related industries

and organizations all stand the chance of sourcing sufficient capital for their businesses

-both existing ones and yet to be initiated ones- from willing Nigerian and foreign

investors who have learnt from experience the high rate of investment returns in the

Nigerian capital market.

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Therefore, the challenge is to ensure that new and upcoming agri-business

schemes prove to these willing investors that they contain the potentials for growth,

expansion and profit-making thus standing them a chance of securing a huge capital

base for their operations.

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