Ymodulus:


-Oh i never said i used 409million at once. I said i made total transaction of 409million naira for thr month of november alone.

-

Hello...I just sent you a pm...kindly reply please

chloride6:
Just typical of Nigerians.... Somebody came with the audacity to tell us that he made a lot of money round triping foreign exchange and you fools are here applauding him. For your information people like ymodulus are the reason a bag if rice is 22000. So when you buy that expensive rice today do not complain you already endorsed it indirectly.

Mr ymodulus I do not think you are a genius, rather you are a fraudster and you deserve to be locked up for exhibiting your selfish attitude to the detriment of the Nigerian people. If you think you are not, drop your office address here let me submit a petition to the efcc , let's see moral your entrepreneurial expolits are.

This is so heartbreaking, foreign exchange needed for vital things is being cornered to fulfill your insatiable greed. I hope the mods take down this thread, naira land should not be a party to wrong doings.

Cc: seun

I smell jealousy

Though your not far from the truth

mumels:


Between yesterday and today have done extensive search.
I have done enough calculations and research. Though it might not be up to that of Ymodulus. But I think I can start small now with the little information I have gathered.

I have 2 obstacles only now. I won't divulge here, I need really serious people we can rub minds together.

During the importation guide then, I did everything myself. I think issue I have been having is not thinking big.

Honestly the young chap has fired me up.

MAY be we should rob mind.

Ymodulus:
Buharillionaires: Brief Summary of All my Business Encounter in 2016. Take a Bow

2016 has come and go, for many it was a year with not so many good financial tales, for some others it would be a year to be remembered for years.

Regardless of whatever side of the divides you stand, as to how great the year 2016 was, do not be quick to forget the Proverb and i quote "The same Boiling water that hardens the Egg, Softens the Potato" - Its not the environment you find yourself that matters, its what you are made up of. Recession or not, last year several hardworking nigerians cashed out happily from their business neglecting the economic recession.

Aim: Early last year 2016, i gave a brief account of all the businesses i did in year 2015 ( https://www.nairaland.com/2838270/brief-summary-all-business-encounters ). Today, i will be giving an account of all business i ran in the year 2016, my strong points and weak points.
I will try my best to ensure, each summary can be of help to those intending to go into any of the business.

What are the businesses you will venture into in 2017?

fergieboy:

I smell jealousy

Though your not far from the truth

Did I just hear you say jealously?

Anybody that can sum up two numbers can do what ymodulus the criminal did. The loop holes are existing even as a type but it take a complete lack of the fear of God to do what you did. A litre of kerosene is presently N350 naira because of the foreign exchange rate. The rate that was driven down by the greed of the likes of you. You are keeping people sweat in your bank account and you think you are smart. You are not smart, you are toying with the vengeance of God.

Any dumb person can get a Gtb, acces, uba, and fcmb card and access up to 500 dollar per month per person at 320 naira send to your PayPal and sell at 450. You must be dull to think you have exclusive information.

Dear Ymodulus,

With Compliments,

Please I will like to pay you a visit in your office here in Abuja as regards Bitcoin and other Available Business for the year 2017 Thanks.

Contact me via 08064535904 or chukwuebuka.chukwuu@gmail.com

Thanks

iamphotoshoot:
And someone would be wasting time in romance section



2017, I must enter bitcoin business

Hahahahaaa. You took this right out of my mouth.

agarawu23:
well, Nigerians don't like to try new thing. I have traded btc, and I now deal in agricultural products and i make more profit than trading btc. Tho btc is a no stress job sha, u just sit down home and control your transaction if you have the contact to source for your btc.

I am interested in this agricultural products.
Thanks

fergieboy:

I smell jealousy

Though your not far from the truth

Dat 'I smell jealousy' makes me laugh.
The guy truly makes sense through his aggressive post.
As far as am concerned, round tripping is not a business but total fraud.
Its unfortunate that big men are guilty of this.
The only moral in this thread is to find solution to peoples problem but not through fraudulent.

Ymodulus:
c. The Personal travelling allowance way / The Form A way


IDEA
I need not explain what P.T.A or Form A is. You can google them up if you dont know what is is.
Here we meet we a travelling Agent what he does is tell his clients travelling to european countries, Dubai in most cases, and are not interested in applying for the P.T.A. He brings this clients to us with their flight details and we all, go to the bank make the application aand when the application are granted we resell the dollars off at the black-market rate and from the profit we make necessary settlement to various parties involve.


Funding / Profit
As at then we get $4000 at N199 and end up selling then at N350 per $1. Banking around N151 per $1 for $4000.
Profit = 350 - 199 = 151 * 3,000 = N453,000 per each Traveller.
After this make necessary settlement of going to like 151,000 baking close to N300,000 from a person.


Difficulties:
- Some banks stopped processing P.T.A. This wasnt a problem, easy as switching banks.
- Some banks started loading the mony into the ATM cards of the Travellers. We overcomed this, how we did i wont go into details

---

Form A

I am trying to be-careful how i explain Form A to the public. Everything involved in Form A is highly sensitive and not something to be said openly. I will just give a short post.

Here i and a Nairalander IziKJon had connect to the family of the owner of a University somewhere in the world ( Dont ask me where). We make applications for Form A and have the acount of the institution funded by the government and then make withdrawals from the Foreign University's account.

Thats all close your ears. Dont ask me questions further on this i wont explain.
Profit: We get them official rate and have them sold as offshore funds outside the country at black-market rate. Banking profit.


cc: IziKJon i see you Gidado_Arewa


Disclaimer*
I have to limit what i write on the public domain. Posterity sake.

Much as I love Ymodulus' bravery and business dexterity, from his explanations, some of these businesses have proven to be completely illegal!
.
If all the things he wrote were true, then, filing false information repeatedly to authorities and paying/bribing people (including bank and government officials) to help you beat the law in order for you to make easy profit at the expense of the country is nothing to be happy about. With these actions of his, he is part of the reason the Naira plummeted drastically against the Dollar, and part of the reasons for the ongoing general suffering in the country.
.
I like him, but these excesses are a no-no for me. I don't know about you though... And I hope he stops giving details of the shady businesses, lest some people use it against him later on or worst still, more young people are tempted to go that path, rather than more honourable business options... I am hoping I am wrong on this!
.
For his clean and brave business initiatives, he gets full kudos from me. But for the shady businesses amongst those he listed, he gets no praise. If it can be proven he broke the law, not the least willfully, the law should take its course!
.
We shouldn't celebrate what is wrong, no matter who does or benefit from it! His unethical actions. whether we like it or not, are part of the recession and the current stark economic realities in Nigeria. And by the way, he just made business harder for people who might genuinely want to do business for adding value sake and making honest profits. How do you expect those Chinese to view other innocent Nigerians? This is terrible. And to see some young people hail and covet such dubious skills and unpatriotic tendencies as his, breaks the heart!

chloride6:
Just typical of Nigerians.... Somebody came with the audacity to tell us that he made a lot of money round triping foreign exchange and you fools are here applauding him. For your information people like ymodulus are the reason a bag if rice is 22000. So when you buy that expensive rice today do not complain you already endorsed it indirectly.

Mr ymodulus I do not think you are a genius, rather you are a fraudster and you deserve to be locked up for exhibiting your selfish attitude to the detriment of the Nigerian people. If you think you are not, drop your office address here let me submit a petition to the efcc , let's see moral your entrepreneurial expolits are.

This is so heartbreaking, foreign exchange needed for vital things is being cornered to fulfill your insatiable greed. I hope the mods take down this thread, naira land should not be a party to wrong doings.

Cc: seun

At first I thought not to reply your post but I think I need to. For the sake of others.

1. You need to realize that there are so many ways to make wealth, but it is paramount to note that the majority of the wealthy people on earth made their wealth by exploitation of certain situations.
Only few people made their wealth by actually impacting the lives of people while gaining wealth to themselves.

Why do we have some many billionaires in the world today than we had in 100 years ago, yet we have more people living in abject poverty than we did 100 years ago. Its simple, most of the wealth we have today are wealth aquired by exploiting others mishaps or situations.

The young man is a business man. Every business man sees opportunities in crises.

I have an uncle who is a multimillionaire, he called me one day and told me, Boy don't disturb yourself traveling abroad I search for wealth, he said of you want to enjoy peace and technology and perhaps real civilization you can travel out, but if you want to make money, Nigeria is the best place to make money. I asked I why and he said Nigeria is lawless, simple as that. Anything goes in Nigeria if you know what you are doing.

Do you know. Ymodulus made such huge profit trading bitcoins, he might not have made such if it were to be some of this European and western countries.

I for one I applaud him with utmost respect and sincerity. He his a man. Forget he his young. Those are the attributes of a man.

You need to also know that the banks are making fortune from the currency crises we are facing right now. Only the ignorant Nigerians think this economy crises affects our banks and politicians. They are the ones making serious money out of this crises.

agarawu23:
well, Nigerians don't like to try new thing. I have traded btc, and I now deal in agricultural products and i make more profit than trading btc. Tho btc is a no stress job sha, u just sit down home and control your transaction if you have the contact to source for your btc.

I want to start dealing on agric products too....please,can you fill me in?

fivestarrealty:
Bro, I can get 1 usd at 356 naira. Pls tell me how I can get the bitcoins from China. Thanks.

can you tell me how to get dollars at 356? I will tell you how to buy from china

Ymodulus:


-Oh i never said i used 409million at once. I said i made total transaction of 409million naira for thr month of november alone.

-

have been searching, now i can say i found you #rolemodel

Please note that the western union, form M and A businesses done by this guy are illegal. This is pure money laundering and infringes on the laws of the land. This guy contributed in further killing the Naira.

The tomato and bit coins are okay.

Please let's be guided.

chloride6:
Just typical of Nigerians.... Somebody came with the audacity to tell us that he made a lot of money round triping foreign exchange and you fools are here applauding him. For your information people like ymodulus are the reason a bag if rice is 22000. So when you buy that expensive rice today do not complain you already endorsed it indirectly.

Mr ymodulus I do not think you are a genius, rather you are a fraudster and you deserve to be locked up for exhibiting your selfish attitude to the detriment of the Nigerian people. If you think you are not, drop your office address here let me submit a petition to the efcc , let's see moral your entrepreneurial expolits are.

This is so heartbreaking, foreign exchange needed for vital things is being cornered to fulfill your insatiable greed. I hope the mods take down this thread, naira land should not be a party to wrong doings.

Cc: seun

you,eazybay,egunmogaji,hidee2,okpurukata seems to be the only people with a working conscience on this thread, at first the ops writeup was sensible and okay but down the line it reeked of fraud, though we all have our ways of doing things and making profits, I don't think its a thing to be applauded for, his only business Idea I saw nothing wrong with is the tomatoe business, cuz of the scarcity,stress,safety at that time, and irrespective of that I'd say I prefer humans first before money, so many people here are blinded by the figures they saw, wow cool money! duh; typical of Nigerians though, anything for money goes, I screen grabbed some numbers here ama reach out to later,their ideas seemed legit to me, you make all the millions in the world to what end? parked a vehicle today and took a bike in the same street,the bike had a lone crash leaving me with knee bruises,it happened withing seconds, while crashing on the highway, I was like is this the end? we all need put this into cognisance, our life shouldn't revolve around money,and wealth accumulation alone, at least not to the detriment of others, I still respect the ops personality though, but am skeptical about the legitimacy of his ordeals.

.

Franky826:


You are here wasting time when the camera is calling you

lol bro camdan fess

okpurukata:
Please note that the western union, form M and A businesses done by this guy are illegal. This is pure money laundering and infringes on the laws of the land. This guy contributed in further killing the Naira.

The tomato and bit coins are okay.

Please let's be guided.

exactly, its sad 98% of nairalanders who commented on this thread failed to spot this out,at least we still have moral minds here howbeit few,thumbs up Lady.

mumels:


At first I thought not to reply your post but I think I need to. For the sake of others.

1. You need to realize that there are so many ways to make wealth, but it is paramount to note that the majority of the wealthy people on earth made their wealth by exploitation of certain situations.
Only few people made their wealth by actually impacting the lives of people while gaining wealth to themselves.

Why do we have some many billionaires in the world today than we had in 100 years ago, yet we have more people living in abject poverty than we did 100 years ago. Its simple, most of the wealth we have today are wealth aquired by exploiting others mishaps or situations.

The young man is a business man. Every business man sees opportunities in crises.

I have an uncle who is a multimillionaire, he called me one day and told me, Boy don't disturb yourself traveling abroad I search for wealth, he said of you want to enjoy peace and technology and perhaps real civilization you can travel out, but if you want to make money, Nigeria is the best place to make money. I asked I why and he said Nigeria is lawless, simple as that. Anything goes in Nigeria if you know what you are doing.

Do you know. Ymodulus made such huge profit trading bitcoins, he might not have made such if it were to be some of this European and western countries.

I for one I applaud him with utmost respect and sincerity. He his a man. Forget he his young. Those are the attributes of a man.

You need to also know that the banks are making fortune from the currency crises we are facing right now. Only the ignorant Nigerians think this economy crises affects our banks and politicians. They are the ones making serious money out of this crises.

I must totally disagree with you sir, on the fact that people get rich to the detriment of others. You find such in lawless countries like our. There is a near inexhaustible list of millionaires and billionaires who made money without operating on the fringes of the law.

Everybody knew that there was a currency loop hole. When I say everybody I mean everyone, but for someone to come here with the audacity to call it business. It is completely unacceptable, no body is a fool. We all know what is going down, some of us just choose to have a conscience. Where was ymodulus when silk road 2.0 was running.

Have a nice day.

fergieboy:

I smell jealousy

Though your not far from the truth

Not really a jealous, I thought the same thing. The currency aspect can be best described as economy sabotage.

The op is simply a child with a fortune. A man won't do this and give out so much info

Hello. I just sent you a pm. Need to talk to you about bitcoins pls

agarawu23:
you can't buy from China with the present selling rate in Nigeria unless u can get cheap dollars better than black market rate. Dollar sales for 490 and btc sells for 485-490. How do u make profit?

Sir, please I need to get an important information from you. kindly beep me sir drealaz24@gmail.com. May God bless you

.

Ymodulus... A name to rekon with..

I am really marvelled with the kind of success you have attained.

Congrats..

Let me quickly follow him..

chloride6:


I must totally disagree with you sir, on the fact that people get rich to the detriment of others. You find such in lawless countries like our. There is a near inexhaustible list of millionaires and billionaires who made money without operating on the fringes of the law.

Everybody knew that there was a currency loop hole. When I say everybody I mean everyone, but for someone to come here with the audacity to call it business. It is completely unacceptable, no body is a fool. We all know what is going down, some of us just choose to have a conscience. Where was ymodulus when silk road 2.0 was running.

Have a nice day.

You are right especially the PTA aspect. it has been in existence for a very long time & that caused rift between me and a friend some years back just because I refused to be part of such shady deal.
Tomatoe, Real Estate & Bitcoin aspect is legal while the rest biz mentioned was illegal.

Ymodulus:
b. The Form M Way:

I banked my first BULK millions earlier this year from this.

IDEA:

I don’t need to explain what Form M is. You can google it up….. Even though this was one of the best business I did this year, it was a one time thing… However the Returns on Investment was massive and one of the best.

We applied for Form M for purchase of some materials…. This was done by one of our contact in the bank after 11days ( if memory serves me right ), this Form M document was processed and funds were paid into the account of the company the purchase were to be made from. After which the company now withdraws the money from their Chinese account and had them handed over to us at a 10% commission fee.

Mathematical Explanation:

I couldn't think of a way to explain the form m idea better, than to give a mathematical explanation.

Question: If seun, lalasticlala succesfully applied and processed Form M of $100,000 for the purchase of Spare Parts in China. what will be their profit.

Take into considerations the following:
-. Applied Form M of $100,000
-. Rate as at then was N199 Per Dollar.
-. Settlement fee of N24: There is an extra addition of around N23.7naira lets approximate it to N24 as at then. This brings the exchange rate to N223 Per Dollar. This fee was used to appreciate any body who facilitate the processing of this Document swiftly and stress-free.
(Note* I do not bribe, i only appreciate hardwork ).
-. A 10% Settlement commission fee to Chinese account. The Chinese companies deduct this as their commision, since we do not buy goods literally from their company.

Answer

Final Cost of $1 = Official Dollar Rate + Settlement Fee = 199 + 24= N223.

Capital of $100,000= $100,000*223 = N22,300,000
Amount of Dollars available for sale after Chinese deducts commission = $100,000 *0.9 = $90,000
Selling Dollars to Importers @ 375 / $1 = 375*90,000 = 33,750,000
Profit Made = 33,750,000 - 22,300,000 = N11,450,000

**** INFORMATION HERE REDACTED*****

Difficulties encountered and how i solved this:

- When I arched the idea, I had in mind collecting the raw cash from the Nigerian government. But this was not the case. CBN only pays into the account of the company you are purchasing those goods from.

-Trust: Several Nairalanders, will agree with me that sending millions of dollars to a foreign land to complete stranger when the money is not yours can be scary. This now boils down to issue of trust. I have been importing items from companies in china over 2- 3 years. Its evident on several of my previous post on Nairaland here. So for me, getting a company to use their account and have them prepare an invoice for me was not difficult. In summary, Issues of trust was not a problem, I have trusted business clients, both Nigerians and chinese business men in china.


Funding:
Funds needed to run this is capital Intensive. However Raising the funds for several business I dive into has never really been a problem.


Remarks:
Sometime last year, Sanusi Made a statement about a few people with ability to forex making billions. And i went head to head with a nairalander on this, but refused to go into detail. This is just one.
https://www.nairaland.com/3309466/make-billions-via-forex-without/2#48793820


Span of Business: Just a one off deal


Disclaimer*
-All figures quoted here are assumed. None are actual representations of figures.

Hey u!
Not hating but I am kind of hurt that while I recognized your given ability on identifying opportunities and my frequent check ups on whatsapp for hints and info even then on the bitcoin nd any idea you could head me up on, you either beat round or say nothing up "u r ust chiling at the moment and all"

Well, all that said, well done. This is surely no mean feat u have pulled.

chloride6:
Just typical of Nigerians.... Somebody came with the audacity to tell us that he made a lot of money round triping foreign exchange and you fools are here applauding him. For your information people like ymodulus are the reason a bag if rice is 22000. So when you buy that expensive rice today do not complain you already endorsed it indirectly.

Mr ymodulus I do not think you are a genius, rather you are a fraudster and you deserve to be locked up for exhibiting your selfish attitude to the detriment of the Nigerian people. If you think you are not, drop your office address here let me submit a petition to the efcc , let's see moral your entrepreneurial expolits are.

This is so heartbreaking, foreign exchange needed for vital things is being cornered to fulfill your insatiable greed. I hope the mods take down this thread, naira land should not be a party to wrong doings.

Cc: seun

God bless you joor

Noted

chloride6:
Just typical of Nigerians.... Somebody came with the audacity to tell us that he made a lot of money round triping foreign exchange and you fools are here applauding him.

Cc: seun

You should check the young man's profile picture, that will give you a little insight. It baffles me that Atheists(I heard Seun's one too) could even be poor, I for one would have been as rich as Dangote was at my age given my intelligence.

But I have a belief in God that doesn't permit me to do certain things, I know of executable ideas worth billions that I could do today and neither the economy nor anyone would even be disadvantaged, but they aren't morally justifiable by Christian standards.

It just surprises me that some people who could actually lack morals still crawl the dirt with little to eat and a confessed Christian would reach out to an Atheist seeking help on how to make money knowing fully well it would consist of some unchristian elements, whatever the form.

My question is @Ymodulus what is the vision for 2017. Carry me along if u will. I need to part take in 2017 success stories no matter how small. I have sent u a pm. Hoping u will spare time to oblige. U can only get bigger as u carry ur so many followers along. More success to ur hustle