To Join Institute of Directors or NSE or NCS?

I started today by working a little on my Excel add-in application. I am already done with creating APIs for the FX rates and Stock Indices.

Then I left home for a couple of strategic places. I started with the Tax office to file in our January VAT. Then I went to Federal Reporting Council of Nigeria (FRC). I wanted to find out from a staff, rather than limit myself to what I saw on their website, what the end-to-end process of registering is.

I was told that I have to be a member of a professional body that has an enabling Act backing it up. I told him about the other director being already a member of a Medical Laboratory Scientists body in Nigeria, and that would that be good enough. I also asked him that since I am member of foreign professional bodies, will joining IoD (Institute of Directors) be acceptable. He said yes and that though IoD does not have an enabling Act, it is accepted. That it is the only professional body given that exception.

But from their website, a lot of other similar bodies with no enabling Act are listed as acceptable. Unfortunately, I didn't see the Medical Laboratory Scientists one. So, maybe the other director too has to join one of the bodies listed on the FRC website.

I then left FRC for a client's place. Went to drop some official documents for vendor registration.

Finally, I went to IoD office at Glover road, Ikoyi. I got there very late, 5:45pm, but they were still open. Well, the receptionist said it was just coincidence that I met her still at her desk as it was past her official closing hours. I asked about the registration steps to be a member of IoD. And as usual, I got a version different from what is up on their website. A fee of N275,000 for my first year (inclusive of the induction and other new member fees). And it is compulsory to attend a N150,000 course (IoD Nigeria Company Direction Course 1) before I can even start the membership application. But on the website, the course was optional.

The other professional body I find interesting/relevant to me is the Nigerian Computer Society (NCS). I checked through their website for registration steps. Everything looked straightforward except having to get recommendation from two existing members. I think they forgot to factor in that they don't have that many members. I don't know anyone who is an existing member. I will give them a call tomorrow and ask if they can get me those recommendation. Like banks used to do in their aggressive target days.

IoD would make a good body to join and I was okay with the N275,000. But the additional N150,000 and time away from my work to sit in a class I don't need made me rethink its tangible value. NCS is more technically relevant and reasonably priced. So for now, I am tilting towards NCS unless I can figure out how IoD will tangibly benefit me since I no longer do networking nor plan to attend talk talk seminars/conferences.

Ultimately, I just need something to get on with my FRC registration.