Audio money.

Give free data to Nigerians and you are announcing 1.5b

chaberry:

Thank you, that's what am talking about, they give directly to the government knowing fully well that the government will have a way to recompensate them back

the thing is so disheartening, I just imagine those crediting and lauding all evil self-centered billionaires with their poisonous gift.

Sanchez01:

Adenuga does not have half of Tinubu's money. I'm sure you're aware that Babangida allegedly owns Globacom and not Adenuga?

That aside, Tinubu cannot outdonate the entrepreneurs that have been coming out lest he beams unnecessary attention his way.

You say allegedly but with a touch of confidence.
Oga say what you are sure of!

thorpido:
You say allegedly but with a touch of confidence.
Oga say what you are sure of!

I used that word because there have been several reports on the true owner of Globacom over the years.

TELL magazine did an exposé on the relationship between Mike Adenuga and Ibrahim Babaginda over 15 years ago and even went as far as establishing the relationship between them.

Tell wasn't the only print that beamed its light on this. That of Alakija was also written.

If I used the word 'alleged', I was only being diplomatic because Babaginda owns several businesses across Nigeria and uses some so called faithfuls around him to front these business.

What I'm sure of is Mike Adenuga isn't the outright owner of Globacom but Babaginda. If you have contrary ideas, bring them forward while I put links to these publications.

Adenuga's initial source of wealth amongstamy other things isn't alien to most people. I wonder why you think this is some abstract idea.

Sanchez01:

I used that word because there have been several reports on the true owner of Globacom over the years.

TELL magazine did an exposé on the relationship between Mike Adenuga and Ibrahim Babaginda over 15 years ago and even went as far as establishing the relationship between them.

Tell wasn't the only print that beamed its light on this. That of Alakija was also written.

If I used the word 'alleged', I was only being diplomatic because Babaginda owns several businesses across Nigeria and uses some so called faithfuls around him to front these business.

What I'm sure of is Mike Adenuga isn't the outright owner of Globacom but Babaginda. If you have contrary ideas, bring them forward while I put links to these publications.

Adenuga's initial source of wealth amongstamy other things isn't alien to most people. I wonder why you think this is some abstract idea.

@bolded,there is still no proof.Even publications that were made were merely speculative.Adenuga indeed had/has a good relationship with Babangida who ENHANCED his business.It doesn't mean he owns it even though he MAY have shares in the company.Alhaji Arisekola Alao had a good relationship with Abacha and enjoyed many things during his tenure.It doesn't mean Abacha owned Arisekola's businesses.

thorpido:
@bolded,there is still no proof.Even publications that were made were merely speculative.[b]Adenuga indeed had/has a good relationship with Babangida who ENHANCED his business.[/b]It doesn't mean he owns it even though he MAY have shares in the company.Alhaji Arisekola Alao had a good relationship with Abacha and enjoyed many things during his tenure.It doesn't mean Abacha owned Arisekola's businesses.

Define 'enhanced', please.

Anyways, I anticipated this response.

http://saharareporters.com/2006/08/11/mohammed-babangida-detained-efcc-looks-globacom-and-ibb’s-“front-investments”

https://www.proshareng.com/news/Investors-NewsBeat/FG-Moves-to-Seize-Globacom-Shares/1500

https://www.balancingact-africa.com/news/telecoms-en/5386/babangidas-sons-name-appears-on-some-globacom-ownership-documents

Guess who owns a staggering 38% of Globacom shares? Not even Babangida but his son! Except you want to tell me how the son of man who 'enhanced' the business of another managed to land 38% shares, then this discussion won't be possible anymore.

You could as well refer to the above as speculations.

Sanchez01:

Define 'enhanced', please.

Anyways, I anticipated this response.

http://saharareporters.com/2006/08/11/mohammed-babangida-detained-efcc-looks-globacom-and-ibb’s-“front-investments”

https://www.proshareng.com/news/Investors-NewsBeat/FG-Moves-to-Seize-Globacom-Shares/1500

https://www.balancingact-africa.com/news/telecoms-en/5386/babangidas-sons-name-appears-on-some-globacom-ownership-documents

Guess who owns a staggering 38% of Globacom shares? Not even Babangida but his son! Except you want to tell me how the son of man who 'enhanced' the business of another managed to land 38% shares, then this discussion won't be possible anymore.

You could as well refer to the above as speculations.

Enhanced - supplement,magnify,improve,augment,escalate etc.
Babangida could own shares in globacom.That I cannot refute but the argument is that Adenuga doesn't own globacom.He does.There may have been investors(and there would be) but doesn't change the fact that it's an Adenuga company.
Mohammed Babangida could have invested in the company.His father could even have compelled Adenuga to accept it.

As to the links you provided,don't forget there are political undertones to some actions.

the wise ones who understands the mentality of our leaders are channelling their donations towards acquisition of medical equipments, face mask and sanitizers, some countries have made adjustments in manufacturing, thereby incorporating the manufacturing of face mask and sanitizers, while our billionaires are donating to a government that have continued to sabotage its health sector for decades now.

why can't the billionaires work with their wards, local government and constituencies?

Sanchez01:

Define 'enhanced', please.

Anyways, I anticipated this response.

http://saharareporters.com/2006/08/11/mohammed-babangida-detained-efcc-looks-globacom-and-ibb’s-“front-investments”

https://www.proshareng.com/news/Investors-NewsBeat/FG-Moves-to-Seize-Globacom-Shares/1500

https://www.balancingact-africa.com/news/telecoms-en/5386/babangidas-sons-name-appears-on-some-globacom-ownership-documents

Guess who owns a staggering 38% of Globacom shares? Not even Babangida but his son! Except you want to tell me how the son of man who 'enhanced' the business of another managed to land 38% shares, then this discussion won't be possible anymore.

You could as well refer to the above as speculations.

In business the owner of the business can decide to sell shares. It is when the share of a shareholder supersedes that of the owner that the owner losses the business ownership.

Also it is possible for someone to invest into a business right from the start of the business and that still does not mean the investor is the owner.

To me Adenuga is the owner of Globacom. Even till date he has not even sell any share. The company is not even a PLC. All those Babangida tin might not be totally correct as he could just be an investor. Also remember that Adenuga was already rich before starting Globacom. He owns Conoil which it's also possible to be through Babangida. Let's just get our fact correctly.
A politician can just be an investor in a company and necessarily not own the company.

It's funny to see some comments here that Tinubu and some other politicians are richer than Adenuga. If people truly understand the rule of money and business they might not say that. Infact if we all understand dollar net worth then we might not say that. Adenuga is worth over $8 billion and yet people are mentioning Tinubu. If you are talking about Naira then it's fine. We are talking about dollar net worth.

The way we talk about looting has affected our mindset and we think that it's easy to loot and become a billionaire in dollars. Yes it's possible... but the rule of money with business might not make it last.
This man Adenuga has a Telecom company that single handledly constructed a submarine cable from UK to Nigeria called Glo One. Even MTN had to join other Telecom companies to construct Main One.
Those apoliticians can be richer than people with net worth of $2billion and below but not the likes of Adenuga and Dangote.

Sanchez01:

Adenuga does not have half of Tinubu's money. I'm sure you're aware that Babangida allegedly owns Globacom and not Adenuga?

That aside, Tinubu cannot outdonate the entrepreneurs that have been coming out lest he beams unnecessary attention his way.

Una dey stupid, who told you this nonsense?

Kenn55:
While money is good, the most important resource in times like this is infrastructure and technology. At some point, you will have the money but you might not be able to buy as countries put restrictions on their export to ensure that they can meet up their local demand. It is already happening now.

A lot of US,UK, Canada and most European companies have retooled and are now producing ventilators, test kits, vaccines and other equipment for their front line workers. This is what they were not doing before because they were importing them from China. But as demand skyrocket and China cannot even meet up demand coupled with the fact they have their own problem, they had to start manufacturing by force.

The question is how could they have retooled and started manufacturing? The answer is because even though they were not manufacturing before now, they had the technical know how and infrastructure to support manufacturing. So while some countries will be trying to import supplies because they don't have the capacity to manufacture, others will produce from within to meet their demand at least till the crisis is over and this is the key to overcome a pandemic like this. Right now, we are relying on money which is not even enough.

I hope that when all this is over, Nigerians will take development seriously because lack of development is dangerous.

First, if you cannot retool you should buy...
Second, even retooling requires lots of money.

BETTER is a good thing...
Perfection should NOT be the enemy of the good.
>

9jaRealist:


First, if you cannot retool you should buy...
Second, even retooling requires lots of money.

BETTER is a good thing...
Perfection should NOT be the enemy of the good.
>

I don't think you understand my point.
Buy from who?
They are retooling because the products are now scarce and demand is far greater than supply due to the lock downs all over the world. If they start waiting to buy from China, they might wait forever. Yes, retooling requires a lot of money but the issue now is not even about money but getting the life saving product.

For transparency they should keep a public log of what they are doing with the money so that it won't end up eaten by snakes or monkeys. Get as much as possible test kits and ventilators fast; don't just go & keep the money in your vaults & be wasting. No time.