Why Nigeria cannot grow Large Corporations and what the igbos must do Now - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Why Nigeria cannot grow Large Corporations and what the igbos must do Now (2677 Views)
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| Why Nigeria cannot grow Large Corporations and what the igbos must do Now by kettykin: 5:32am On Dec 22, 2017 |
This thread is about why Nigeria cannot grow Large, world class Corporations like Google , Facebook , Samsung, Hyundai, Kia , Toyota, Honda Toshiba. Nigeria is really finished ,if the only indigenous car Manufacturer in Africa was bundled like a terrorist and a criminal to lagos by no lesss a body than the Nigerian Police while his wife was given a hot slap for her audacity to question why her husband was being arrested then there is really no hope for the average startup in Nigeria. we can from the Innosson Debacle is that if his business was situated in Lagos , Abuja , Kano or Kano by now the business would have been closed down and sealed by EFCC. Igbos Need to rethink their business Model if Innoson , Ibeto , Ifeanyi Uba can be harrassed by Law Enforcement agents while Dangote,Adenuga , Maina, Jimoh Ibrahim are free from harrassment then there is big , irreconciliable problems about our existentialism in Nigeria. Best and safest bet by igbo business men , Open eastern Branches in the East in Nnewi , Ontisha, Aba, Owerri, Enugu etc Operate Eastern branch to the best of your ability in 2018.Gradually shift business focus to the Eastern Branch. Benefits of Relocating Businesses To The East 1. safety of investments in the event that Nigerian experiment goes sour and disintegration becomes iminent. 2. Imunity from untold hardship from business closure from red eyed security officers over trivial issues 3. Immunity from the harrassment of Area boys and street urchins in Lagos 4. immunity from the double taxation of Goverments that dont hate your person 5.immunity from the Government directives to relocate businesses without adequate notice and preparation like Computer village. 6. Tax free incentives from Enugu ,Anambra ,Abia goverments. 7.Robust business environment in Onitsha ,Aba and Niger delta states. 8.Immunity from over zealous market Leaders known as Iyalojas who impose illegal taxes to be remited to APC leaders 9. Immunity from ritual killers, gang robbers , cultist etc 10. Immunity from the incessant burning of Markets during festive seasons 11. Immunity from the incessant demolition of Markets with goods destroyed during festive seasons 3 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 5:33am On Dec 22, 2017 |
kettykin:Supported. "One Nigeria" is once again exposed as a gigantic fraud 11 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by zakim(m): 5:38am On Dec 22, 2017 |
Op, think wise...business is not about tribe....all about satisfaction of customers and making of profits. 4 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by kettykin: 5:38am On Dec 22, 2017 |
imhotep: The bundling, harrassment , locking up of Innosson and the slapping of his wife is the last straw 2 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 5:40am On Dec 22, 2017 |
kettykin:A Civilized country will give someone like Innoson plenty incentives to keep producing, selling and hiring local labour. But not so for zoogeria. 7 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by kettykin: 5:40am On Dec 22, 2017 |
zakim: if business is only about satisfaction of customers how come most foreign companies will rather have their African office in South Africa rather than Nigeria, even MTN does not have its headquaters in Nigeria preferring to be in safe place 3 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 5:41am On Dec 22, 2017 |
zakim:In nigger-area, business is about tribe. Stop deluding yourself. 2 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by GavelSlam: 6:15am On Dec 22, 2017 |
In the meantime its ok to commit forgery and depend on your tribe to extricate you when caught. 14 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by ManMountain(m): 6:24am On Dec 22, 2017 |
Why are you changing your topic headline every minute? It's rather becoming clear that banks should be wary of giving out loans to igbos businessmen, because once they default and you make attempt to force them to pay using the instrumentality of the law, they will pull out the tribal card which their people are always willing to play for them. Banks should start profiling igbo businessmen the way igbo young men are been profiled in Asia and South Africa Igbo businessmen are turning out to be high risk 21 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by NCP: 6:32am On Dec 22, 2017 |
kettykin: 100% supported. Move all igbo owned businesses to the East and South South. Have branches only or supply to dealers in SW and Northern Nigeria. And Banks should profile any business of SE origin. They are potentially not worth the risk, 75 manufacturing plants already closed down. Also, they habitually present forged business document for loans. 14 Likes 1 Share
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| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Tyche(m): 8:07am On Dec 22, 2017 |
zakim: How will they know when most of them are jobless and at best dependent on handouts from their parents 2 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by LionDeLeo: 8:18am On Dec 22, 2017 |
GavelSlam:That's what they are saying. Commit crime and when the law catch up with you, rather than defending yourself, use tribe, kidnapper Evans is another example. Bunch of criminals. Innoson is a criminal and should be treated as such, regardless of whatsoever he is. 13 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by LionDeLeo: 8:20am On Dec 22, 2017 |
ManMountain:100/100. 10 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Gazzy88(m): 8:30am On Dec 22, 2017 |
imhotep:Continue calling zoogeria and she will keep treating you like animals. It's give and take principle. Simple 2 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 8:33am On Dec 22, 2017 |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Gazzy88(m): 8:36am On Dec 22, 2017 |
imhotep:If you igbos don't stop that nonsense name callings you will keep paying for it or you think presidency dont read nairaland abi. 4 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 8:38am On Dec 22, 2017 |
Gazzy88:Igbo amaka  Let them keep reading and creating poverty and hunger for their own people. 1 Like |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Gazzy88(m): 8:40am On Dec 22, 2017 |
imhotep:So igbos are immuned from the sufferings? 4 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by WisdomFlakes: 8:41am On Dec 22, 2017 |
ManMountain: Mmm. You have spoken nothing but the truth. Ifeanyi Uba nearly ruined his fellow Nnewi kinsman (Cosmas Maduka) and Access Bank by taking a loan he knew beforehand that he wouldn't pay back. He told Cosmas that Yoruba people are jealous of his success in Lagos that this was why he needed the loan to expand his Capital Oil, only for him to default on repayment and accuse Cosmas on National TV of running a 'pure water' business when that one went public about his shady ways. Any bank that loans them money is OYO. That's just the truth. 15 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 8:41am On Dec 22, 2017 |
Gazzy88:Na today? Check and see that those suffering most from recession and APC ineptitude are not Igbos. Igbo amaka |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by EvilMetahuman: 8:57am On Dec 22, 2017 |
op is very right. we igbos have to go home let us move our fraudulent businesses, gala hawking, drug dealing, kidnapping business to south east. we can builld a huge co-operation from those. at least we will have our army of flat heads wailing on social media, wailing day and night when one of us is caught doing bad thing. 8 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Gazzy88(m): 9:10am On Dec 22, 2017 |
imhotep:Give me your proofs I don't have anywhere to check. 2 Likes |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 9:12am On Dec 22, 2017 |
Gazzy88:so, instead of you to fight recession you are here wishing suffering upon Igbo people 1 Like
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| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Gazzy88(m): 9:14am On Dec 22, 2017 |
imhotep:I didn't wish poverty on igbos just trying clear the airs that igbos ain't suffering. 2 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by kettykin: 9:19am On Dec 22, 2017 |
ManMountain: What banks should start profiling igbos , Skye bank , GTB, first bank , sterling bank , wema bank should please profile Igbo's. The remaining banks cab and Will do business with igbos, Igbo's on their own can boycott those banks . 1 Like |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Nobody: 9:27am On Dec 22, 2017 |
Gazzy88:because you want Igbos to suffer |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Guestlander: 9:37am On Dec 22, 2017 |
Innoson is not above the law. Laws are made to be obeyed by everyone including rich and poor people alike. https://mobile.nytimes.com/2007/02/06/business/06hyundai.html?referer=https://www.google.ca/ The New York Times Hyundai Chief Sentenced to Prison for Embezzling By CHOE SANG-HUN FEBRUARY 6, 2007 SEOUL, South Korea, Feb. 5 — The chairman of Hyundai Motor Company, sentenced on Monday to three years in prison for embezzling corporate funds, will continue to run the corporation while his case is appealed. The presiding judge, Kim Dong-oh, said that the chairman, Chung Mong-koo, committed a “clearly criminal act” by raising and using “a large-scale secretive fund” that “greatly undermines the transparency and soundness of business management and has many adverse effects on our business culture.” But the judge said he would allow Mr. Chung to stay out of prison on bail while an appeal was prepared in order to “minimize the impact on the economy.” The appeal process is expected to take six months to two years. “Chairman Chung will remain at the helm of management, but his room for maneuvering will be curtailed by today’s sentence,” a spokesman for Hyundai, Jake Jang, said. “The verdict means that he will have one leg tied in a legal battle at a time when he has to run with both legs for the company.” Hyundai, the world’s sixth-largest carmaker, is struggling with labor unrest at home and pressure from Japanese competitors abroad. Mr. Jang said Mr. Chung’s continuing legal trouble might “delay the company’s efforts to implement a comprehensive review and realignment” of its strategies. The chairman’s legal problems come as Hyundai seeks to deal with labor strife that cost it $2.4 billion in lost production last year. Mr. Chung’s three-year sentence surprised analysts and Hyundai officials, who packed the hearing in Seoul. Mr. Chung declined to comment as he left court. The judge said Mr. Chung was being punished for “illegal and antimarket practices.” Critics of the country’s family-controlled conglomerates said that South Korean courts were too lenient toward convicted businessmen in general and Mr. Chung in particular. “I don’t think today’s verdict was a stern execution of law,” said Park Kun-young, a secretary at the People’s Solidarity for Participatory Democracy, a group campaigning for more transparency in South Korean conglomerates. “It’s notable that the court gave Chung three years in prison, not four or five. Three years is the maximum sentence that can be suspended by an appellate court.” Auto, electronics and other industries in South Korea are dominated, like Samsung and Hyundai, by a handful of conglomerates, called chaebol. They have powered the nation’s export-driven economy, but critics say they have also given management control and wealth to the owner families through questionable and opaque bookkeeping. Many executives of the chaebol have faced trials on bribery and other corruption charges. Those convicted have usually received light sentences, most of them suspended. That has led to complaints that the conglomerates are too powerful. About 80 percent of businessmen convicted of embezzling large amounts of money since 2000 eventually had their sentences suspended, People’s Solidarity for Participatory Democracy said in a statement. Hyundai with its Kia brand accounts for 72 percent of the 2.65 million South Korean cars exported last year, and for nearly 7 percent of South Korea’s total exports. Once known for its cheap models, Hyundai has transformed itself into a major global brand under Mr. Chung. He has aimed to make it the world’s fifth-largest carmaker by 2010 by expanding in Eastern Europe and the United States. Mr. Chung was arrested last April on charges of embezzling around 90 billion won ($96 million) through fraudulent accounting, and inflicting 210 billion won in financial damage on affiliates through questionable deals that protected or bolstered the finances of him and his son, Chung Eui-sun, who heads Kia. Mr. Chung spent two months in jail before being released on bail. In a separate trial last month, seven former bank officials were found guilty of taking bribes from Hyundai in return for helping one of the company’s units write off debt. A lobbyist was convicted of making bribes on behalf of Hyundai. “Today’s ruling was a surprise in that many analysts had predicted a suspended sentence,” said Stephen Ahn, an auto industry analyst at Woori Investment and Securities. “But I don’t see any immediate impact on the company in that the verdict doesn’t create a leadership vacuum at Hyundai.” Kim Jae-woo, an analyst at Mirae Asset Securities, agreed but added that “the question of corporate governance at Hyundai remains a long-term burden for Hyundai.” Mr. Chung has not faced any movement among shareholders to oust him, analysts said, because Hyundai is controlled by a complex network of circular financing among family-controlled affiliates. Hyundai shares fell as much as 3.15 percent after the sentencing but recovered to close flat at 69,800 won ($76.33). Most Popular on NYTimes.com Tax Bill Calculator: Will Your Taxes Go Up or Down? Defying Trump, U.N. 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| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by ManMountain(m): 9:39am On Dec 22, 2017 |
kettykin: 4 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by BeautifulSE: 9:41am On Dec 22, 2017 |
kettykin: So what happens if yorubas decide to play the boycott game. who do you think will lose? ordinary shop demolition, you people will call ICC lol. But you think you can boycott. We know you people anyway. When it hits you, you'll play victim as usual. 9 Likes 1 Share |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by Adminisher: 9:46am On Dec 22, 2017 |
kettykin: This is a dumb post. INNOSONS is already in the SE. His market however is more 10x more than the SE and he has sourced part of operating loans from a Bank with HQ in the SW. His main customer now is the FG that is currently headed by a northerner. Please where are you going with this local mentality and parochial thinking?. You guys are just playing yourselves out of life itself with half educated mindset and mass delusions of persecution. 14 Likes 2 Shares |
| Re: Why Nigeria cannot grow Large Corporations and what the igbos must do Now by gidgiddy: 9:50am On Dec 22, 2017 |
kettykin: While all these are good ideas, they all come to nothing as long as Igbo land is in Nigeria Independence is the only solution to oppression |
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