BON is founded to combat tribalism, lift falling literacy standards, build Human capital and raise the dieing Start-ups in Nigeria. By using private and public funding network strategy to finance its activities. We seek to drive educational and financial support for individuals and Start up businesses facing potential economic threat. The support can take the form of grants, cash, enlightenment or capacity building. A bailout may or may not require reimbursement and is often accompanied by BON regulations.
The reason for bailout is to support entities that have the potential capacity to affect millions of people nationally either at the moment or in the nearest future.
Bailout policies come in various forms, the most common being public funding from the BON network to the rescued citizen. These bailout funds are often on terms favoring the entity being rescued. Sometimes even direct subsidies are provided to the parties concerned. For instance, individuals who intend to further their career by learning a skill or attend a school could have the expenses related to such decision subsidized on BON network. With BON network in Nigeria, every child can go to school, illiterates can become Professionals, Start-ups and Medium Scale businesses can become multinational company and people of different tribes can live as one as a result of rigorous enlightenment.
Bailouts have several advantages. First, they ensure continued survival of the entity (individual users or businesses on BON) being rescued under difficult economic circumstances. Secondly, a complete collapse of personal finance can be avoided when people make financial mistakes due to ignorance and inexperience as a result of bad decisions made earlier in their lives or career. BON in these cases steps in to prevent the insolvency of Start-ups and medium scale businesses that are needed for the smooth functioning of the economy and scarcity of human resources needed to improve national productivity.
A new Nigeria, where every citizen is literate, a productive human resource, with access to timely business and personal finance to promote the well being of all and enlightened enough to live above tribalism
By partnering with leading organizations and building public networks of Nigerian citizens, we can provide spaces where people can acquire various skills set for personal development, BON is a system of organization in which money, skills and enlightenment is offered to all members to cushion the effects of low standard of living and to improve productivity in the National economy at large. To achieve its national goal, BON is structured such that individual users, apart from BON bailout, also have the opportunity to bailout other members and as a result building for themselves credits to get bailed out whenever they need it. (Public funding). BON is a direct response to four major issues facing Nigeria: Mass illiteracy, inadequate Human capital, the dieing Start-ups and tribalism. Its activities therefore extend across all sectors of the economy including Agriculture, Science & Technology, Finance, Oil/Gas, Education, Manufacturing, Engineering and Health as well as all regions in Nigeria.
REQUIREMENT FOR BAILOUT
The financing body (BON) places strict requirements such as a well built bailout credits, cogent and meaningful reasons for the application, and in some cases, good review ratings. This may also be followed by a temporary relaxation of rules that may impact the accounts of the rescued entity.
BON is a free NGO network. All members must register for free. After registration, a member can proceed to review for BON. BailoutNigeria publishes enlightening articles addressing major issues in the Nation on its home page on regular bases. These posts are to be reviewed, responded to and submitted. No member is allowed to operate multiple accounts. All members must provide their BVN to BON which is used to verify that only one account exist for each member of the BON community. BON expects all members to update their educational level, age and gender as soon as they are logged in to the community. Referring friends and family is not mandatory for application for Grants or start review work on BON, it is however necessary for certain withdrawals. Referrals are done simply by sending invitations from the BON member areas to anyone by filling in some details of the invitee in the invitation form and sending. The people will receive this invitation as messages on their emails and phone to come join BON network, once they honor the invitation, and complete registration too, the inviter will automatically have them placed in their community chain on BON. The minimum number of invitation is 5 and the maximum allowed is 500. Members do not need referrals to make or request for money on BON.
WHY PAY READERS FOR REVIEW?
BON seek to enlighten the entire public through the publication of research articles and posts with special interest to facilitate public literacy about concerned issues, to enlighten the society, to teach technical topics and to give public orientation. We hope to stimulate reading culture in our members. BON therefore pays all readers per article to achieve its aim. This payment has no hidden motive; it is our own way of financing education and enlightenment online. It also provide a means to improve reading culture in Nigeria and to appreciate users time and resources spent responding to each article on BON. The pay ranges from N10 to N1, 000 depending on the weight of each article and the total number of responses needed as considered by the BON executive bodies. The articles cover four major areas namely education, finance, capacity building and cultural diversity in Nigeria. These are geared towards building literacy levels, funding, providing human resource and tackling tribalistic behavior in the nation.
WHAT IS MY DUTY AS A MEMBER?
All registered members are expected to focus on two major duties, namely to review posted articles and to bailout other members who need it. All members shall load certain amount of credit on their own account separately meant to support other members. This money does not belong to BON, it is as much like the credit you load on your mobile phones, it belong to the user to be used for bailout purposes as decided by the user. The minimum loadable credit is 200.00NGN. This money will be reserved on the users account and will be available for them to bailout others as they want. It costs N100 per bailout. That means N500 for instance can enable a member to bailout others five times or to bailout 5 other members. The number of times a user bail out others is called “Bailout count”. The system always tracks this number and keeps it in record under ‘bailout count’ for the user. This bailout count will be required if the user want to apply for a Grant on BON in the nearest future.
All members who are found guilty of the following will be penalized:
1. Scam review and registrations
2. Tribalistic practices and comments
3. Multiple accounts operation
4. False posts and information
HOW MUCH CAN I WORK FOR ON BON?
The amount each member can work for on BON vary from individual to individual and from what source the cash comes from. There are three sources of income on BON: REVIEW, BLS and BAILOUT. The following factors determine the total amount any user can have on balance at a given time.
1. The number of post reviewed on a daily bases on BON
2. The BLS capacity
3. The educational level of the user
4. The bailout count
Review payment is an active income from review work. Users can make between N2, 000 to N50, 000 monthly from this source depending on the educational level of the user.
BLS payment is a passive income from users network, users can make between N1, 000 to N500, 000 monthly from this source depending on the users community chain capacity.
Bailout count is a form of credit facility which users can use to acquire Bailout fund from BON. The minimum bailout count is 35 and can be used to request for a minimum of N5, 000 while the maximum bailout count is 10,000 and can be used to acquire bailout fund worth N20million at any given time.
HOW CAN I BUILD MY CAPACITY WITH BON? :
BON is about building capacity and then financing those capacities being built. Nigerians face major challenges, the biggest ones of which are high illiteracy, low technical know-how, very low capacity development and as a result Low national productivity. To start contributing to increasing national productivity, we must help facilitate public literacy, individual capacity development, and technical Know-how. BON seeks to partner with leading organizations to provide these requirements for free for the general public who might not have the ability to afford them. BON members can therefore request for skills he/she think is needed from BON to further their career and ambition in a certain area ranging from Agriculture, Engineering, Science and Technology, Humanities, Medicals and Management. It is however noteworthy that a range of bailout count is also required in the application for any skills set on BON. Once an application is approved BON will fund the program and assign the individuals to the nearest location (chosen by individuals or by BON) where such skills will be acquired.
WHAT IS BON TRYING TO ACHIEVE?
BON is a nongovernmental public organization. And this means that it is strictly made for public interest only. We render services that can build up the nation and we promote certain courses that we feel will enable us to achieve our aims and objectives. We want Nigeria to grow if possible independent of its government programs. We believed that an economy led by capitalists is much more able to survive than that which is completely dependent on Government. We therefore aim to stir up once more the capitalist spirit of Nigerian people as it were in times past. We start by trying to address the following major pillars of national problems:
1: Falling literacy level versus inadequate human capital
Illiteracy in individuals stems from different, generally inter-related causes which, together, create a series of often insurmountable barriers for those concerned.
For instance, for someone born into an underprivileged milieu to parents with little formal schooling, the likelihood of being illiterate or experiencing serious learning difficulties will be higher. This is known as intergenerational transmission of illiteracy.
The following are the most frequent causes of illiteracy in adults:
• Parents with little schooling;
• Lack of books at home and lack of stimulation as to the importance of reading;
• Doing badly at or dropping out of school—many have not completed high school;
• Difficult living conditions, including poverty;
• Learning disabilities, such as dyslexia, dysorthographia, etc.
Adults aged 45 and over with low literacy skills have the distinction of belonging to generations for whom there were attractive job opportunities despite a lower level of schooling. A very large number of them have always worked in the same field, founding their families, and thus have never felt the need to go back to school.
Owing to the closing of many companies over the past few years, especially in the manufacturing and primary sectors, these people have found themselves out of work, and are often unable to find a new job, because they have difficulty reading and writing. Also, they lack the necessary skills to meet current market requirements or to register in training that would allow them to requalify. For statistics on the falling standard of adult literacy visit UNESCO here : https://en.unesco.org/countries/nigeria
2. The dieing Start-Ups
The need for Start Ups to be adequately funded is very important. Start ups do not have the capacities of the large industries and therefore are in a weaker position to attract funding. Yet without funding we cannot expect meaningful progress from these productive growth drivers. But how has banks, our traditional source of finance reacted to start ups? According to research, the banks play a major role in the development process as they accept deposits and give loans in the economy. There are 89 commercial banks in operation under the supervisory purview of the central bank of Nigeria. The recent increase in minimum paid up capital for the existing banks from N1Billion to N25Billion will now enable the sector play its role of supporting the growth. However, the cumulative loans granted by banks to the economy from 1992 to 2001 amounted to 3.031trillion. of the total amount, accumulated loans to startups during the period of ten years accounted for N426.8billion(14%) while other sector took the lion share of 2.604trillion, it is easy to see that the commercial banks as one of the most viable sector of the banking industry has performed grossly below expectation. In 2008,a research was conducted to find out why the response rate of banks to financing startups has remain on low level, 25 projects were studied and out of them 20 cooperated by providing the necessary information needed for analysis. A structured questionnaire requiring company name, location, service or product, amount of fercilities applied for following presentation of a good feasibility report, the amount approved and if not approved, the reasons for rejection.
Out of 20 projects whose feasibility qualified for analysis based on the criteria, only 7 were able to raise funds through the banks. This represents only a mere 35% of the projects under consideration. Even then, the amount approved represents only 15.27% of the financial requirements of the projects put together. 65% of the projects that qualify for financing have not been able to get a facility due to lack of collateral, low level of education, poor business proposal, higher balance sheet leverage, shorter operating history or a variety of other traditional reasons. Where approved, the financing is also based on the security available. For the seven projects that were able to raise some funds through the banks, only 59.16% of the funds needed were raised. This amounts strictly represented amount which the projects could conveniently secure. A further attempt was made to find out from some of the banks to which the feasibility were submitted. The banks however saw nothing really wrong with insisting on security as the overall yardstick for approval of loan facilities to business as according to them, this represent the surest way of recovering back their loaned funds.
The role of BON is therefore partly to encourage Start ups with good feasibility proposal by funding them even without collateral in other to fix the lapses of traditional banks. The advantage of an economy booming with startups is obvious. The entrepreneur is vital factor in the process of production and so to improve the entrepreneur leads to higher and better production and so to economic growth and development of Nigeria.
3: Ethnicity and tribalism;
Tribalism is a serious threat to any country. Unfortunately, Nigeria is not entirely free from this issue either.Tribalism is a group of people who share common lifestyles, habits, and interests. The problem of tribalism is that people of different tribes are separated from each other. The tribe members usually identify with their tribe very strongly and they feel truly connected only with people of their own beliefs. They often have set stereotypes about the other tribes, which prevent them from broadening their mind, learning more about different cultures and befriending people who do not belong to their own tribe. A tribalist is a person who: Boasts about the merits and good qualities of the tribe, but refuses to recognize its bad qualities and faults, sometimes even trying to hide them. Shows favoritism towards people of their tribe and is picky when it comes to people who do not belong to their tribe. Gives all the privileges to the native tribe’s people, but tries to exempt them from any obligations and duties when it comes to humiliating and dangerous missions. Firmly believes that people from the other tribes are not worthy of help, sticks to the stereotypes against them. Prefers marriage only between the members of a native tribe, as opposed to the intertribal marriages. There is a huge number of tribes in Nigeria. This includes lots of different minor tribes, but the largest and most famous ones are Igbo, Yoruba, and Hausa. All of them have their own customs, culture and beliefs. Sometimes, these tribes can misunderstand each other because of their different worldviews, and this is one of the biggest social problems in Nigeria nowadays.
What are the causes of tribalism in Nigeria? Tribalism can be interpreted as superiority complex among specific ethnic group, which makes them prejudiced towards their neighbors. The existence of tribalism traces back to the era of slavery. However, in the modern days of Nigeria, this issue still exists and prevents so many people from getting along and uniting to combat more relevant issues, which concern all of the Nigerian people. Tribalism influences many spheres of social life – for instance, quite often competent workers is overlooked because of their tribal identity. There are a lot of causes which contribute to the unfortunate tendency of tribalism in Nigeria.
1. Amalgamation 2.–Resource control, 3. –. Marginalization, 4.–. Constitutional reform, 5.–. Religious intolerance, 6. –. Lack of vision
Since the country is formed out of different nationalities which all have their own views and traditions, there is no such thing as patriotism when it comes to Nigeria. It is hard to inspire the patriotic feeling in the citizens. Even though Nigeria has a national anthem, flag and other symbols of national identity, not many people attach any deep meaning to them.
What are the effects of tribalism in Nigeria? Tribalism obviously has an extremely negative effect on Nigeria’s unity, and in some cases, can even be life-threatening, because some people are ready to do anything to stand for their ideals. The tribalism experiences of the other countries show us that such division brings nothing but conflicts, fear and exclusion. To become a really strong nation, we have to accept each other with all the differences and try to find the compromises in a peaceful and non-violent way. Nigerian people show their strongest qualities and learn to get along with each other regardless of their cultural and social differences, Nigeria will become a nation instead of a territory. Fighting tribalism with acceptance is extremely significant for every Nigerian. Instead of pointing out each other’s differences and blindly following the stereotypes, people need to learn to see good things and possible contribution to the future of the country in each other. Today, the young generation is really aware of how important is tolerance, and how much it helps to build healthy relationships between people. There is still a lot to learn, but the first steps are done. Here are some of the ideas which can bring us closer to combating tribal rivalry and prejudice. Eliminating this issue is a collective effort, that is why it should be done not only by the influential governmental figures but every single person. Perhaps, if every Nigerian will consider following these principles, we will become a powerful and advanced nation together: The religious leaders should help people fight tribalism instead of emphasizing religious differences and trying to impose certain aspects of religion and culture on people who have different beliefs. The tribes have a hard time realizing the issue of tribalism and its importance. Many people have never heard about how dangerous it can be, and they mix up healthy patriotism with prejudice towards other tribes. The problem of tribalism should be more publicized, this way more people will learn about it and contemplate the issue. People should learn and understand at least the basics of the other languages. It will significantly tone down the misunderstandings between different tribes. That is why the major tribe languages (Igbo, Yoruba and Hausa) have to be included in the schools and universities all over Nigeria. The inter-tribal marriages should be encouraged. There are no significant reasons why the Igbo and Hausa, Igbo and Yoruba, or Hausa and Yoruba couple should not get married. The same applies to a Nigerian person and someone who is not from Nigeria. Sure, they are used to different cultures and traditions, but they could easily teach each other more about their culture. Forbidding the inter-tribal marriages is a thing of the past and Nigeria has to be a progressive society, not a divisive one. Also, people should have more friends and acquaintances from other tribes and communicate with them often. The different customs from the tribes have to be thoroughly examined, and those that make barely any sense or pose some threat to people should be evicted. People all over Nigeria have to adopt the modern and healthy customs which will show their traditions in the best way. Promoting everything Nigerian is important. The Nigerian people need to have common values and patronize the music, arts, and various other goods made by the fellow citizens. Most importantly, we have to be proud of everything native. Sincerity is the key to happiness. To beat all the negative feelings, we have to be sincere and trusting with each other. Where there is mistrust, there is also hatred and prejudice. We have to erase the tribalistic approach to education and teach our children to be accepting of each other. We are all Nigerian, and in our differences lies our strength. It is a great mission for us to teach our children to be conscious of their Nigerian identity and unite as Nigerians, as well as accept other cultures. Hopefully, soon the situation changes for the better : https://www.legit.ng/1177046-the-problem-tribalism-nigeria-effect-solutions.html
SO WHAT IS BON TRYING TO ARCHIEVE?
We are convinced that by providing Public enlightenment, building capacity development, crowed-funding Start ups and organizing orientation for the teaming population of Nigeria we can help solve falling literacy level, low human resource, the dying Medium scale businesses and Tribalism problems facing Nigeria.
We therefore sell all those in exchange for a united and civilized country – whose citizens will be highly literate, with enough human resource to carry out developmental tasks, and ethnicity and tribalism free country. There are about 190million Nigerians, half of this population on BON would mean that about 100million Nigerians will be literate, will be a productive human resource, will have access to timely business and personal funding and will be enlightened enough to live above tribalism. The result is Nigeria will become a more developed Nation in no time.
HOW CAN I QUALIFY FOR BON GRANTS
BON grants is a form of bailout funds released for a member for various purposes. The grant ranges from N5, 000 to N20, 000, 000. To qualify for our grants, users must have a specific required bailout count. The following are the amount receivables as Bailout grant and the bailout count required to qualify for the amount:
BailOut Grant (NGN) Required Bailout Counts
WHAT IMPORTANT BON TERMS & CONDITION/ PRIVATE POLICIES SHOULD I KNOW?
BON policies are terms and conditions guiding BON activities, and they are very important for all users to understand.
1. All bailouts by members are regarded as charity donations to other members to carry out any course for which it is requested and has no guarantee of being returned in the future.
2. Past performances of BON grants system is not indicative of future performance.
3. BON posts may not appear for a prolonged period of time in which case BON is not liable for any inconvenience that might cause any user.
4. BON bailout counts are neither investment nor savings and do not guarantee any increase in value or accrued interest when used for Grant application.
5. Provision of false documents may lead to complete ban on the individual account.
6. BON raises funds for organizational use through Adds and by charging on member’s withdrawals to finance its divers programs. Members should therefore note that these charges are subjected to change at any time depending on current financial needs of the organization to cater for public needs and sustain organizational activities.
7. Approval of all applications for Bailout grants is dependent on one or more of the following factors: feasibility proposal, reasons for such Application, Bon counts, bailout history, review history, community chain. In that case, having Bailout counts is though a pre-requisite for Grants but does not automatically guarantee approval of grants.
8. The value of the Grant Approved by BON for an applicant may be lesser, equal to or greater than the value of the Bailout count in the applicants account.