MUST READ: Why I still charge N50 for N5,000 withdrawal – POS operator

An Abeokuta (Ogun State) based  Point Of Sales  (POS) operator  Sulaiman Olawuyi, who became the cynosure of all eyes when it was discovered that he was charging N50 for N5,000 withdrawal, while other operators were inflating their charges, tells DAUD OLATUNJI of Punch Newspapers why he decided to be sincere in his dealings with people, among other issues

What is your state of origin?

I was born and brought up in Gbongan, Osun State.

How old are you?

I am 30 years old.

What is your educational qualification?

I am a BSc holder from Obafemi Awolowo University, Ile-Ife, Osun State.

What course did you study?

I studied Building.

What year did you graduate?

I graduated in 2017.

Have you served and what year did you serve?

Yes, I have served. The NYSC deployed me to Abeokuta in 2018.

You studied Building; why are you into PoS business?  

After my youth service in 2019, I sat down and thought of what to do to make money since I can’t steal or get involved into Yahoo Yahoo (cybercrime), I decided to make good of the little money I was able to save during my service year in order go into a profitable business. So, I ventured into PoS and sale of cooking gas.

When did you start the PoS business?

I started the PoS business late 2020.

You started the POS business in 2020 when many businesses were not thriving. How were you able to cope then?

Yes, but I was able to make use of the little profit and was able to make a living out of it.

Are your parents still alive?

Yes, they are alive; they are in Gbongan, Osun State.

Do you have siblings?

Yes, I have younger brothers and sisters. They live with my parents.

Why did you decide to stay in Abeokuta to do business after your service?

When I got to Abeokuta in 2018, I got a place to stay in Ijeun-TunTun, and the way the people here behave is lovely. So, after completing my service, I decided to stay, hoping for a good time and job to come.

Where did the NYSC post you as your place of primary assignment?

Actually, I was not posted to Abeokuta, I was posted to Adamawa State for the three-week orientation, but due to Boko Haram insurgency, I had to work towards getting redeployed to Ogun State after the camping because I have a brother staying here. When I got here, I was posted to Ogun State Property Investment Corporation as my place of primary assignment.

Why did you not bother to work as a building constructor after your service with the NYSC? 

When I got to OPIC as a corps member, on my first day on site, one engineer, Mr Sulaiman, who happened to be the project engineer of that site called all corps members and asked us to introduce ourselves and tell him the relevance of the course we studied in school. A guy who was a graduate of LAUTECH, who studied Civil Engineer, stood up and described Civil Engineering as like a father course to Building and other construction courses. I spoke against his position and said that Building as a course originated from London, and in London, we have Building as a separate course apart from Civil Engineering. I engaged him in an argument that lasted for almost four hours.

Who won the argument? 

When the conversation got to a certain level, he paused and was speechless while the conversion had to be between me and Mr Sulaiman. At the end of the day, Mr Sulaiman had to give a pat on the back, saying I was a true graduate of Obafemi Awolowo University.

Let’s talk about your business; how much did you use as your capital when you wanted to start the PoS business?

I will take you back to what I said earlier; after my youth service, I was able to save some money, NYSC was paying N19,800 as monthly allowance. At that time, OPIC usually gave us N10,000 as our monthly stipend, and every 15 days, they gave us allowance. So, I was able to live my life the little way I could and still saved. I was able to save about N110,000. I had to send the money home to help me buy some gallons of red oil so that at the end of the year, I would be able to sell them, make profit and set up a business.

However, the reverse was the case because there was no increase in the price of red oil and I suffered loss. Nevertheless, I was able to gather a little amount of money before speaking to the Imam of my mosque in Abeokuta that I was interested in the monthly contribution that was being organised within the mosque. I explained to the Imam that I did not really have the money, and that he should allow me be the first or second to collect the monthly contribution and add the money to the little I had saved to enable me to start up my business with the intention of paying back from the profit, and he accepted to assist me.

How much was the contribution and how long did it take you to pay back?

The contribution was N100,000, and it took me three to four months to pay back.