NL1960:


We are just discussing to enrich ourselves and others. So many people have ideas but finance is the issue. That is why you have to get to a certain level before you can now command finances. That is why the rich gets richer. If you have access to $300m, can you not float a refinery yourself as Dangote and BAU has done?.

watch the veodeo and know the foundation of some wealth u see today https://m.facebook.com/story.php?story_fbid=750538845562712&id=100018198114393&_rdr#

ahiboilandgas:
this are generational wealth they are not normal hustling chap .....BAU Dad sheik isyaku rabiu was among the richest African of the 19th centuary industrialist...owing several textiles and about 1500 houses....the location for B.A.U flour mills in Apapa was own by his dad in the 1980 ..that gigantic house worth billions of Naira in V.i with Arabic inscription on it opp dangote home is own by the sheik....the sheik resident was built in 1984 at 30m naira and can accommodate 200 person....the sheik is the largest share holder of sokoto cement bought over by his son....The son Abdulsam rabiu at 34 bough over Nigeria oil mills from govt at 10m dollara...

That is what iam trying to bring out. You made it look as if either Dangote or BAU did not start from somewhere or get money from somewhere. Any beneficiary of generational wealth that grew it will always out perform a starter. A child that inherited money or assets from his/her parents already has a head start in life as compared to those that have to start from scratch. . I know this well from my classmates in secondary school.

Nobody is doubting how wealthy Alhaji Rabiu is. Everyone knows he is stupendously wealthy. But he’s not sinking hundreds of millions of dollars of his own money in the refinery project.

I can say for a fact that BUA Group is currently approaching local and international lenders to arrange the financing of this project. And that project will cost much more than USD300m.

Lazyyouth4u:
Nobody is doubting how wealthy Alhaji Rabiu is. Everyone knows he is stupendously wealthy. But he’s not sinking hundreds of millions of dollars of his own money in the refinery project.

I can say for a fact that BUA Group is currently approaching local and international lenders to arrange the financing of this project. And that project will cost much more than USD300m.

Gbam. If i had inherited a generational wealth, wetin for concern me with fixed income when banks will be prostrating at my doorsteps to grant me credit to finance any project.

NL1960:


That is what iam trying to bring out. You made it look as if either Dangote or BAU did not start from somewhere or get money from somewhere. Any beneficiary of generational wealth that grew it will always out perform a starter. A child that inherited money or assets from his/her parents already has a head start in life as compared to those that have to start from scratch. . I know this well from my classmates in secondary school.

not only inheriting infact Aliko dangote didnt inherit any wealth this father wasn't very wealthy he inherit only 2 trucks by his own accounts several of this step brother are very only managing ....he was loan money and train on the enterprise....he could have used the 500k to drink club and carry women he had several options ...like wise abdul rabiu he dad die in 2019 at 97 so they just shared some of his asset last year ....but Abdul samad bough Nigeria oil mills at 36 year old for 10m usd he resigned from .I.R.S group in 1989 to found B.U.A his brother i.r.s airline failed while the other i.r.s rice and flour is trying ....their was accounts of the dad giving him.any money outside salary and he bough over the dad land in tincan.....but Kola abiola is in the same league but where are company ....it beyond coming from a wealthy family

NL1960:


That is what iam trying to bring out. You made it look as if either Dangote or BAU did not start from somewhere or get money from somewhere. Any beneficiary of generational wealth that grew it will always out perform a starter. A child that inherited money or assets from his/her parents already has a head start in life as compared to those that have to start from scratch. . I know this well from my classmates in secondary school.

the sheik died in 2019 and out of 38 heirs to the wealth only bua became very rich beyond the dad imagination...the Dad operated a textiles mill called bagauda and some dealership for sweing machine (singer) ..but b.u.a resigned in 1989 and deal in edible oils ,sugar and flour then cement and now oil refinery in variance with the family business....

If you inherit money but non know how to grow am because you were not trained to, the person children go join commoners with little effort. The only thing that can help you is if you have a name which will mean you can now leverage on connections.

NL1960:


Gbam. If i had inherited a generational wealth, wetin for concern me with fixed income when banks will be prostrating at my doorsteps to grant me credit to finance any project.

1 over 38.... hmmm

ahiboilandgas:
the sheik died in 2019 and out of 38 heirs to the wealth only bua became very rich beyond the dad imagination...the Dad operated a textiles mill called bagauda and some dealership for sweing machine (singer) ..but b.u.a resigned in 1989 and deal in edible oils ,sugar and flour then cement and now oil refinery in variance with the family business....

BUA Group corporate strategy: Watch Dangote Group very closely. Wait for them to do all feasibility studies and enter a sector. Is it working for Dangote in that sector? If yes, we enter. If no, we do not enter...

ojesymsym:
1 over 38.... hmmm

he shared a billion naira to this siblings one got 150m naira no brother lìke abdulsamd rabiu standing for him to get brand new howo trucks and a b.u.a contract to Hualage cement plus training on finance....Abdul get money Pass him Papa ...the b.u.a estate Abuja consists of over 250 depluxes ....he dash is dad 250m naira to asist to completing the school the old man was buiding ...

ojesymsym:
If you inherit money but non know how to grow am because you were not trained to, the person children go join commoners with little effort. The only thing that can help you is if you have a name which will mean you can now leverage on connections.

he didn't inherit the money cos the father died in 2019 and he resigned 1989 ...

38 children.... na em bring them up abi na their mama. I am not talking about school fees oh, but the actual upbringing.

ahiboilandgas:
he shared a billion naira to this siblings one got 150m naira no brother lìke abdulsamd rabiu standing for him to get brand new howo trucks and a b.u.a contract to Hualage cement plus training on finance....Abdul get money Pass him Papa ...the b.u.a estate Abuja consists of over 250 depluxes ....he dash is dad 250m naira to asist to completing the school the old man was buiding ...

Most online businesses use this model too. Follow what is proven to work, no need to reinvent the wheels

Lazyyouth4u:
BUA Group corporate strategy: Watch Dangote Group very closely. Wait for them to do all feasibility studies and enter a sector. Is it working for Dangote in that sector? If yes, we enter. If no, we do not enter...

ojesymsym:
38 children.... na em bring them up abi na their mama. I am not talking about school fees oh, but the actual upbringing.

the sheik get money the wealth can raise 100 kids well in the UK.....his house na community including police station and school.lo ated within ....at any point they can be around 200 people in the houses the sheik is not very interested in money more of religious activities than business i used to see the sheik in the 1990 with cadillac limousine

Lazyyouth4u:
BUA Group corporate strategy: Watch Dangote Group very closely. Wait for them to do all feasibility studies and enter a sector. Is it working for Dangote in that sector? If yes, we enter. If no, we do not enter...

Gbam. Nice strategy. No need re-inventing the wheel.

What is your reason

Leezah:
No

SeaTrade:
Real money comes from the real world,all this fixed income nonsense won't take you anywhere.
I like you cos you are a realist and always say the truth.
The truth is most of all these people here dabbling into stock and fixed income ,a lot of them wont make 10m naira in their lifetime from these and they know it,despite the fact that they come here to form rubbish but I can see through the BS.
goodluck to you.

You need a minimum of N10 million to open a Stockbroking account in some of the houses.


N10 million is cheap.

There are some products from FSDH that you need minimum of N50 million

ahiboilandgas:
the sheik get money the wealth can raise 100 kids well in the UK.....his house na community including police station and school.lo ated within ....at any point they can be around 200 people in the houses the sheik is not very interested in money more of religious activities than business i used to see the sheik in the 1990 with cadillac limousine

Behind his super mansion, late Isyaku Rabi,u built more 100 houses providing free accommodation to Qur'anic reciters with their family including feed support up to now.

It is unfortunate we give these banks credit for robbing customers everyday. Our banks are smooth criminals, there is no other country where banks steal from customers continuosly like Nigerian banks.

Why won't they make billions when they unlawfully deduct money from customers accounts, they end up giving it all kinds of funny names to make it look legal and professional.

Most Nigerians would say, it is only 20naira or 50naira they deducted from my account, no problem. But calculate that 20 or 50naira by millions of customers in their bank, you will understand why banks will alway make money either by hook or by crook.

And we have a system that allows them go away with it.

Even NSE is a big scam, a legal ponzi scheme, the big players knows how to manipulate the whole process to their own advantage.

emmanuelewumi:
How are these banks making money.

Zenith Bank made a profit after tax of N230 billion in 2020 compared to N208 billion made in 2019. Their equity is now over N1 Trillion.


Oga Jim Ovia will get a fat dividend of about N12 billion

Life no just balance

E don red ooooooo, the FGN has officially put Lagos on olx

condomuser:
E don red ooooooo, the FGN has officially put Lagos on olx

notting New part of revenue streams to fund the budgets deficit.....several power plant where sold

condomuser:
E don red ooooooo, the FGN has officially put Lagos on olx

This is not new, other public owned government properties went same route.

Donbrig:
It is unfortunate we give these banks credit for robbing customers everyday. Our banks are smooth criminals, there is no other country where banks steal from customers continuosly like Nigerian banks.

Why won't they make billions when they unlawfully deduct money from customers accounts, they end up giving it all kinds of funny names to make it look legal and professional.

Most Nigerians would say, it is only 20naira or 50naira they deducted from my account, no problem. But calculate that 20 or 50naira by millions of customers in their bank, you will understand why banks will alway make money either by hook or by crook.

And we have a system that allows them go away with it.

Even NSE is a big scam, a legal ponzi scheme, the big players knows how to manipulate the whole process to their own advantage.

Why complain when you can make money from those that have mastered the art of money making in Nigeria

Donbrig:
It is unfortunate we give these banks credit for robbing customers everyday. Our banks are smooth criminals, there is no other country where banks steal from customers continuosly like Nigerian banks.

Why won't they make billions when they unlawfully deduct money from customers accounts, they end up giving it all kinds of funny names to make it look legal and professional.

Most Nigerians would say, it is only 20naira or 50naira they deducted from my account, no problem. But calculate that 20 or 50naira by millions of customers in their bank, you will understand why banks will alway make money either by hook or by crook.

And we have a system that allows them go away with it.

Even NSE is a big scam, a legal ponzi scheme, the big players knows how to manipulate the whole process to their own advantage.

Did you read the company's financial report. Zenith bank has about 5 million customers. N1000 stolen from each customer according to you will amount to just N5 billion. Judging from your N20, N50 and N100 illegal deductions.

Is that where they got N210 billion profit after tax, is that where the bank paid about N70 billion as employees cost?

We are all free to have our opinions sha

yazga:
Why complain when you can make money from those that have mastered the art of money making in Nigeria

God bless you

Lazyyouth4u:

Interest income of over N400 billion

I forbid the art of making money at the detriment of other people. My step mother worked as a bank manager for 8yrs in old generation bank, our banks are rogues, I don't want to go into details or argue. But I think we still have a lot of work to do in sanitizing our banking industry.

They are stealing billions from poor and helpless Nigerians every day, that's my fight and anger whenever they declare huge profits as if they have honestly worked hard for it.

yazga:
Why complain when you can make money from those that have mastered the art of money making in Nigeria

Donbrig:
I forbid the art of making money to the detriment of other people. My step mother worked as a bank manager for 8yrs in old generation bank, our banks are rogues, I don't want to go into details or argue. But I think we still have a lot of work to do in sanitizing our banking industry.

They are stealing billions from poor and helpless Nigerians every day, that's my fight and anger whenever they declare huge profits as if they have honestly worked hard for it.

Oga! Noted Sir.

emmanuelewumi:



God bless you

Amen

emmanuelewumi:


Interest income of over N400 billion

That net income on fees and commissions contains those small small charges na. It adds up and may be the difference between Oga Jim buying a new apartment in Dubai or NYC

But looking at the financials now, I see most of their money comes from the net interest income