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It is no longer news the takeover of the Etisalat Nigeria management by a consortium of banks. The implication is that many of their staff may be laid off, many peripheral associates may run out of business, and the company itself (ETISALAT Nigeria) may be without an internationally recognized brand and technical partner. This may mean a closed door to its integrity and brand equity. It may also be difficult for the company to make further investments and purchase equipment to drive growth in the network. The only beautiful thing about the entire saga is that the analysis of the collapse serves as a critical lesson to other businesses.

Many businesses are headed down the same "mortuary" that ETISALAT is embalmed in. In fact, burial processions have begun for some companies due to the various levels of mismanagement and financial ignorance happening within them. So many businesses in Nigeria are heavy laden with various forms of financial injuries that are caused by nonchalant attitude to monetary transaction details and before such companies get to diagnose the severity of their infection, they are already lying on a surgery table comatose. This calls for an effective and accurate vaccination system that covers against financial infections.

When a business is characterized by negligence to adhere to effective, contemporary and technology based financial tracking and control system, such organizations encounter problems, which often times result to financial impropriety, which has made many firms to collapse. Financial accountability involves ability to give explanation of stewardship of money, or any other economic/financial assets or resources. It involves:
Good record keeping of all transactions
Good stock and acquisition control system
Articulate handling of organizational administration
Elimination of waste and financial leakages
Good organization structure
How will a business immunize itself against financial injuries and ensure financial accountability and stewardship of money? The solution is for businesses to adopt a system, software that allows them to manage, log and track financial transactions. It must adopt a system that ensures Proper Account balancing & Remittance that will help to reduce or eliminate loss of monies. One of such guaranty systems, that can immunize against injuries is the PAYCOLLECT application. The application allows businesses to manage and log financial transactions. The best thing about PAYCOLLECT is its easy application and usage process which can be done effortlessly on its website http://paycollect.cellcore.com.ng