₦airaland Forum

PrecisionFx:
This sugar business never bankrupt?


""Secondly dangote just like other contemporaries have a level playing""

There's no level playing field in Nigeria n that's why dangote thrives in business. Have dangote ever made any sugar or cement investment in Europe Asia or Americas? ........ He knows he won't survive .

NOW LET ME GIVE U INSIDER INFORMATION.


Dangote didn't build cement factories in Nigeria wen him n OBJ connived to stop importation of cement in Nigeria, Rather dangote took a very large loan n imported an unprecedented amount of cement that will fully supply all the cement Nigeria needed for over 3 years, That was where he made enough money to build cement factories.

Prior the above, Wen ibeto's cement import license was withdrawn by OBJs regime, His next consignment of cement worth billions of naira was confiscated n destroyed by Nigeria FG. Wen ibeto heard that news, He instantly had a brain damage n fell to stroke. Against all odds, he later survived and built a very massive church in his home town Nnewi as Thanksgiving.
As God will have it, Yaradua came to power, and he effectively cancelled the ban of cement importation n ibetos was back in business.

NB1 - Dangote still imports cement up till this day.

Wen GEJ was in power, Ibeto was blessed. GEJ compensated him with an oil well, That was in the year 2012...
NB2 - IBETO is the first n only igbo man in the history of Nigeria to own an oil well.

One question though to your dumb assertion of him not investing in Europe, America and asia

My question is which rational business man will leave a place where there is huge and un tapped market potential and easy barriers to entry to location where market is saturated
Barriers to entry high?


Secondly go and visit obajana, ibese and gboko and tell me if dangote still imports cement

Finally I will ask that you go online to know about other cement factories he has built in other parts of africa

P.s Ibeto has oil well yeah yeah so also over three hundred influential Nigerians infact Maryam babangida's former tailor ( Mrs alakija) has too so I get am before no be property

You people should continue hating while his empire continues to grow

MrMcJay:
Dangote only thrives in monopolies where he controls production, distribution and exchange.

In 2004, there were rumours of poisoned Indomie Noodles. Not too long after, Dangote introduced his horrible-tasting Noodles into the market.

A few years ago, the guys at Standards Organization of Nigeria were shamelessly marketing Dangote's 3X cement. This is irrespective of the fact that it's not proven to set faster or be stronger than others.

Dangote's monopoly is not even felt now, wait till he's the owner of the only functional refinery in Nigeria. That's when Nigerians would smell pepper. If you doubt me, how much was sugar and cement before Dangote's monopoly, how much are they now?

The reason Dangote succeeds is because there is no Anti-Trust and Competition Law in Nigeria. The day we have Competition Law in Nigeria, Dangote is finished. How would someone buy up cement companies and shut them down because you don't want them to rival your inflated priced cement?

Unfortunately, the leading expert on Competition Law in Nigeria with a PhD in Competition Law from the UK was made a Federal High Court Judge in 2016. Today, he's in Abuja trying money laundering and anti-corruption cases.

You sound biased and a lot of what you talk about is false.

First and foremost go and read about anti trust and competition law.

Secondly dangote just like other contemporaries have a level playing field. He has decided to do back ward integration and invest in Nigeria hence he is reaping the benefits.

I remember very well that Obj gave him Ibeto and two other investors dual license to import and manufacture cement. While dangote focused on building his cement factories and importing, IBETO in particular concentrated fully on importation because there was quick money to be made there. Now that he has factories all over the place and controls the cement market people are shouting monopoly.


Ifeanyi UBA, the guy that owns Matrix energy, Arthur Eze, Pan Ocean and even some states in the ND region have licenses to build refineries......Nobody is doing anything they are just paying lip service signing agreement up and down. This man is the only one that is taking both business and financial risk to construct the largest refinery in africa.


His investment can go both ways and either make him a lot of money or lose him money in the process. Most believe he will make money as the market for refined petrol products in Africa is still very untapped.

Once the refinery is done and the man becomes a major player in this sector...people will start shouting monopoly monopoly.

Nigeria is the only country where people don't work they want to eat.

For your record Dangote is soley responsible for indomie setting up a factory in nigeria because they saw him as a threat and in the process creating jobs for people. Prior to then all the indomie sold in nigeria was either manufactured in ghana or imported from Singapore and for your information he has sold dangote noodles to the makers of indomie.


God bless dangote God bless nigeria!

And yes....his investors are smiling to the bank!

casualobserver1:
Now is a good time to buy BTC. The current rate of USD 14k per BTC is due to traders selling topay income taxes in the USA.

After April 15th we will see prices start to rise as traders wrap up tax paperwork.

Not entirely true....will btc rise again answer is yes because people now see it as a platform for storing illicit wealth and for money laundering. Also there is BTC futures now meaning people can agree BTC price today for a future transaction. Also other alternative crypto currency exchanges are springing up here and there.

My advise don't put money you can't afford to lose in BTC.

PNomsule:
How many investments hubs have you heard of bro? You may as well not call, it only shows how interested and serious you are...i have just chatted with 4 people already on my cell from here. Remain skeptical all you want but is it working, how else would you know...the website i have made available and my digits are there.
Thank you for being my prejudicial Thomas.

High returns high risk...few questions...what do you guys use the money for?

Where are your offices?

What kind of investment gives 60% ROI by year end?

Provide answers please

HSfoundation:
Investing in the Nigerian stock market is a huge joke, where are the Intercontinental bank, Zenith and First bank shares of 10-15 years ago, many have crashed to below 5-10% of their market values at the IPO.....

Abeg if you have other advices but stocks....especially for some one who is not an insider to its running. Hmmmmm

Good point. Every investment has its risk. Like I mentioned in my post there is no investment that is fool proof unless you are risk averse then I will advise you stick to Tbills

Of course you will do your fundamental analysis before buying stock and the funny thing is a lot of people just buy stock with sentiments

Back to your question and I want to presume that you know a little bit about investment analysis....if yes do a 10year ROI trend analysis for Zenith shares (dividend bonus and capital appreciation) and post on the domain.

Am waiting for your feedback and thanks

They are really trying hard. Seriously if their marriage is intact as they claim....there is no need to prove anything. Just simply ignore Sahara reporters the way Buhari has ignored Fayose and continue with their marital bliss.

But with this...something is suspect.

Ryabcool:
it makes sense if you're investing huge. You would my be having this mindset if you're investing a billion. You'd feel safer investing a billion naira in treasury bills than a business you're not completely sure will not make a loss. The wealthy enjoy the benefits of treasury bills than the average joe

Spot on!

There is a difference between spirituality and religion. Nigerians and Africans have been brain washed by religion that's why it's easy for even intellectuals among us to be cajoled at the drop of a hat.


Travelled to the US for holiday and visited a homeless shelter catering for poor people and I was impressed with their conduct. The shelter provided food and clothing for both muslims,Christians, atheists and even gang members.

I can bet this won't happen in a typical Nigerian setting. Also religion as we know it was imported into Africa so I beg to ask this why do the originators and importers of the religion have more/better schools/hospitals than churches while we have more churches than schools?


Why do they prosper economically while we seem to be going backward everyday despite the growth of religion in our midst?

Why do we hate each other so much and yet openly declare our love for God?

Why can't we be our brother's keeper?

For the "tithe avengers" know this there are certain universal laws that operate in the universe and apply to all irrespective of race tribe or religion once you can tap into the workings of these laws...success will come your way.


There are two laws that govern Christianity namely

Love God with all your being
Love your neighbor as your self

If we can't keep to the tenet of these two laws then all is an exercise in futility. I guess God in His infinite wisdom already knows hence the reason why judgment will first and foremost start from house of God.

Instead if trying to fight God's battle why don't we work on ourselves so we can become better on a daily basis and develop the much required personal spiritual relationship with God devoid of all these distractions?


God bless us all including our pastors, tithe and first fruit givers, tithe avengers, believers and non believers alike and even daddy freeze!


P.s I stopped giving tithe a long time even before daddy freeze but instead I donate to a motherless babies home and also set up a scholarship fund.

post=63966805:
No, FD’s interest can be received either upfront (at point of debit) or back end (after maturity)

The interest varies. Sometimes, TB can b higher or lower depending on how well the govt wants to mop up money from the economy.

TB doesn’t have a fixed tenor, it varies day by day. There’s 57 days, 105 days and more. While FD varies from 39 days to 180 days.

The minimum investment amount on TB is 100k

TB is sold in 91day 182 day and 365 day tranches at primary auction unless you are buying from the secondary market of which they will re discount TB already sold at the primary auction for you through open market operations

northvietnam:
I have done both...

Land do take time to appreciate but it's the safest for me.

Been into transport shaaa..
A cousin bought a truck (tipper) for 3.5m (2016), he traveled back abroad so I was looking after the teuck...

The first driver messed the truck up cuz he was related to us ( wasn't doing account weekly which is 60k dry season 45k to 50k raining season). After some months I returned the truck home then started consultation.

After all set and done, I took 400k and returned the truck better than it was when they bought it...

Then I put it up for higher purchase... I told our priest( catholic) and he also made the announcement in church service..

It took small time shaaa but I finally got a serious man.. he made deposit of 500k before he took the truck and is returning 62500 weekly... sometimes he do return double of the money in a week so we just do check and balance...

As I'm talking to you now, his conductor is begging secretly to couple a sound truck for him...
That he's ready for my terms and conditions...

You might not like the biz style but it's ok for me.

Banks will tell yo they want to bid for the TB , that you should deposit money in an account wich you can't withdraw again, once they are done with the biding of what ever they are bidding the money dsiappears.. and u will be making peanuts as gain

Every business has risk and the risk should be equal to the return. TB is risk free and can still guarantee a yield of 30% yearly if the upfront interest is invested in another asset class.


You are lucky to have gotten someone to manage your truck well for you and that don't mean another person will have the same luck.
Transport business doesn't always work the way you have put it.

I have invested in transport business twice first as a corper serving in the north ( got a water truck and leased it out to someone to be fetching water for corpers at a cost) and also a truck. The experiences were not too good but thankfully I got my capital out.

Point I am making is that investment is a matter of opinion and risk appetite. My parents only do TB because it is risk free and they can sleep well at night knowing that their life savings is intact.

The best is to give the pros and cons without bias and leave the decision to the person.

Both are interest bearing financial assets. However note this

TB is government backed while FD is not

TB is tax exempt while FD is not

TB is issued at a discounted rate and redeemed at par while FD can be issued with interest paid back end or upfront.

Both can be liquidated prematurely however at a cost.

The minimum tenor for TB is 91 days and max of 365 while FD is usually monthly (30days) up to 365 days. Also there are some FD on call

As per interest rates, up until now TB had higher rates than FD however rate is not the best criteria to distinguish between both as this is more of operational meaning rates can oscillate both ways for the two financial instruments.

For those looking to build long term wealth. I advise you have a portfolio with varying asset classes to hedge for risk. Ie cash, FD/TD equity and other classes of assets they deem fit.


Funny thing is people always avoid the equity market like it's a plague but know this in any economy there will always be a boom and bust. Oil prices will always go up and down same for dollar. This is what capitalism is all about.

When the naira really down against the dollar I told people that this was the right time to buy naira assets but they refused and some converted their assets to dollars. Some even put money in al sorts of ponzi schemes and got their fingers burnt.

Now for those that study the market well. Compare the prices of the following stocks in Jan 2017 and now Fidelity, Dangote sugar dangote cement stanbic Zenith fbn uba access dangote flour and ROI that a 1m investment will have made in 12months both in capital appreciation and dividend payments


The bitter truth is only long term investors make money ask Warren buffet and study his investment philosophy. On the other hand Nigerian are always looking for the quick way out.

Gerrard59:
I greatly appreciate your treatise on economic issues. Right from the days of PE.

However, at the bolded, what has made it difficult for Nigeria to provide constant electricity to her citizens? Like the poster you quoted, I also believe deregulation is the best thing for Nigeria at this stage. And yes, I agree with you that deregulating the sector now will usher in high prices of goods and services across the land because of petrol. Question is: Why can the government not be able to provide constant electricity? By then, I believe deregulation will be in order.

Thanks.

Bro I wish I have the answers to why the power sector is comatose but I don't. Sometimes I even wish I can just wave a magic wand and gbam we have light but alas I am not God!

What I can say is a lot of the problems we face today is as a result of cumulative years of decay and neglect on the part of both the government and citizens.

Germany now generates about 40k megawatts from wind turbines and at some point were even paying people some form of incentives to use light. I also cried when i read this on bloomberg and just kept asking where we got it wrong as a country!

China currently has the largest hydro electric power station in the world and the largest solar panel station too generating enough electricity to cater for their population twice.

There is enough sunshine in the north for people to build solar panels on commercial scale but the moment this idea is brought to light we begin to analyze along tribal, ethnic and religious lines as to why the project should be sited in Akaw Ibom as against Borno or Kano and also how what is generated should be passed on to the national grid etc etc. We also politicize everything.

I am aware that some Europeans came in 2014 to pitch to the government on some proposal to build commercial solar panel sites. They were ready to foot the cost of construction and maintenance and only asked government to put some legislation so people can buy solar panels at cheap prices and buy the units of electricity but the senate killed it for obvious reasons. The same people are making milestone achievements in Sudan and Ethiopia

I pray God will open our eyes one day and God bless Nigeria

cyberguy72:
Sorry for being too harsh.But I was thinking you u would proffer a solution to the fuel quagmire.What do we do to remedy this situation.I for one think deregulation is the most sincere thing to do now.Something GEJ wanted implement then but for the massive protest by Buhari and his 40thieves gang.I know Bubu would never toe deregulation becos it wud seems like going back to his vomit.

Deregulation will not work in Nigeria. What a lot of people don't know is that fuel is the oxygen that drives the Nigerian economy. At this point govt cannot deregulate and leave the citizens at the mercy of the greedy fuel importers. If this is done there will be total chaos. First you need to understand that these importers work like a cartel and will use price to blackmail people just as they are using artificial scarcity to do same

I know people will say AGO and DPK have been deregulated but truth is what is the market size for those that use these two products combined compared to PMS. In lay man's terms, how many people still use kerosene stoves? Most use gas now and there is even firewood as an alternative, also how people use diesel generators?

If govt does not keep a close watch on fuel prices, there will be total chaos in the system.
And the 145naira price was agreed using dollar conversion of 360naira to the dollar. Now they get dollar @ 305-306naira so it's ironic that they are screaming blue murder. They even get priority service when it comes to funding their Letters of credit.

Imagine that last week Sunday you go to your barber and this week you repeat the same trip only to hear that cost of haircut has tripled because fuel price has also tripled. A lot of small businesses depend on fuel for sustenance and living the price at the mercy of importers is not advisable.

I hear that the Govt has agreed to make dollar available to them @ below the previous rate of 305naira....let see which excuse they will bring up now.


God bless Nigeria.

P.S I will still reiterate that landing cost for PMS is not 171 naira because I have facts to back up my claim and for those that don't know NNPC is ideally meant to be aback up importer focusing on import only for strategic reserves which is what we have been enjoying since the hoarding and artificial scarcity started

Instead of hammering on import only why can't they pull their resources together and build a modular refinery?


Yet again I can't wait for Dangote to finish his refinery because I know that the refinery will be a game changer!

This has nothing to do with John Gboyega.

She should take it up with the security outfit if she feels she has been treated badly

On a lighter note she should also understand that people now know her for who she truly is which is a lying two faced deceitful manipulative human being.

cyberguy72:
My friend landing cost is N171.W hats the need doing a biz when don't make profit?U wud just sit down and by typing rubbish.FG just need to subsidize for these guys to resume importation.If not let d downstream be deregulated.QED

First and foremost I didn't abuse anybody whilst trying to pass my message across and I would expect that you don't do same to me or any other person for that matter.

It's very simple.....and I will say again...if the fuel importers feel they are not making profit from their importation, they should close shop and look for another business to do. It is not by force to be a fuel importer. The same scenario played out with cement until Dangote started manufacturing cement in Nigeria. We tried subsidy and we know how it ended up being used for fraud. Even up till now the Govt of the day is still redeeming sovereign debt notes from subsidy claims in the past and you say govt should start subsidizing again? Hell No!


Now they are asking for tax holidays....from my very little understanding of business economics tax holidays only make sense for investors looking to inflow long term FDI for critical development, to encourage SMES and for CSR reasons.

I say again if this option is considered...it will still be abused and more most of these marketers and importers save for the big 5 (Oando, Forte, Nipco,MRS and Mobil) only prepare management accounts and already even evade tax so granting them tax holidays will only create room for them to legalize this.

This is akin to how our Igbo brothers in the east will travel to China to ask their Chinese manufacturers to reduce the quantity and quality of components used in manufacturing items for import so they can make more margins. Every body is just rent seeking and we at the same time want the country and govt of the day to succeed.

God bless Nigeria.

grandstar:
This is an unreasonable request by the marketers.

They had probably noticed Buhari's refusal to accept the reality of deregulation and capitulated to keeping the price at it's unrealistic low level.

For Pete's sake, the landing price is N171/litre at the port. how tthen can it be sold at N146 at the pump.

I know some will say if it is locally refined, that will solve the problem.

Question is- Will NNPC dash them the crude oil to refine??

Obviously not!!!

Dangote said refining it locally will save about 23 naira per litre.

So, let's minus 23 from 171. That still gives us 148 wholesale price from the refinery. Yet the pump price is 146. We have not factored in transport cost from Lagos state to other parts of the country and profit margins have not been included.

Government should simply deregulate the price. Yes, Nigerians will pay higher but supply will be guaranteed like diesel and now kerosene after government deregulated the price.

I don't see how Dangote will cope with a subsidy regime. I suspect he will lots of money to any presidential candidate that will free the price from its' present senseless stranglehold

Pls stop mis informing people. Landing cost is not 171 naira.


The bottom line is these people want to cash in on the increasing oil prices.

The same way they bastardized the subsidy exercise. Bottomline is this; it is not by force to import fuel. If they feel the business is not profitable, they should close shop.....QED.

Even if the tax holiday is granted, they will still abuse it

To be honest i cant wait for Dangote to finish his refinery.

At first they complained scarcity of dollar, now they get about 60% of dollar allocation from CBN rate of N306 whilst other people get at N360 and above. Before this they abused the subsidy regime..now it's landing cost...again it is not by force to be a fuel importer....if they feel they dont like the margins...they can stop importing fuel and look at other profitable businesses around

Something tells me emoney will vie for a political office soon.

ashjay001:
I'm an informed novice like u, but from my deductions; should #1=$1

--it'll be cheaper to import rice again, than produce in naija(its still more expensive to produce rice in naija than other climes)


-a lot of countries we have as trade partners, have comparative advantage over us, they'll flood our markets with cheaper varieties of products.


-we'll become d new europe! Migration to naija from other african nations will boom.

China actually devalues its currency regularly, something d US has been trying to sanction them for.

Imagine security, waitresses, street sweepers, all being able to afford a hummer or foriegn vacation!

Nobody will buy made in naija, since they can afford d better foriegn product.

China has the advantage of population. About 2billion....we dont

China is self sufficient meaning even if no country does business with them they will still do very well. We are without doubt an import dependent country importing mudane things like toothpick and rice. It is only now the Govt is really trying to encourage export and even some of the export proceeds are not judiciously used by the beneficiaries in Nigeria

Corruption is dealt with swiftly in China while the story is the opposite. We have heard stories of how political officer holders and even influential business are jailed and even killed but here in Nigeria..we will play the tribal and ethnic card

China gives out loans to business owners at single digit rates and they pay back diligently but the opposite is the case in Nigeria. Even ordinary NPOWER is been abused

I can go on and go on but I guess you get the drift now

Hopefully a lot of the buy and grow naija initiatives in the Agric space will take shape and yield results this year.

God bless Nigeria.


Do you know that Nigeria alone contributes about 35% of total revenues for the Shoprite brand in Africa. A brand that imports virtually all they stock on their shelves including fruits and you need to see how Nigerians flood there to buy stuff

Desyner:
Will a man who has $39B in saving at 0% interest need to borrow $2B at 5% interest. Your critical analysis is tragically flawed.

Pls stop dis gracing yourself and Google what a foreign reserve means on the internet.

No wonder there are so many unemployable graduates in the country

back2sender:
You should ask the law courts, who encourage illegalities during GEJ era.

An era of anything goes, and that's why innoson was winning.

Secondly Gtb did a poor assessment of the issue until they took the pain to visit the ports agencies, shipping lines, to discover the stench of how innoson has robbed them.

Am asking you here;

How did innoson released this shipments from mitsui O.S.K Shipping Lines when the original bill of laden document's is still in the bank's vault.
This man should go and settle with the bank, sentiments will not free him

God bless you for this insight. A lot of ignorant and uninformed people here.

Customer80:
GTBank spokesperson why did innoson floor your bank in the law court? Was your statement not part of the issues why they are in court? Sentiments no go kill you

Mr Man....did Innoson get judgment in his favour in the court of law, the answer is yes but you and I both know that our judicial system is very corrupt. Even I with the right connection can secure a court injunction against all the bank's combined. My question is why didn't he go to the CPC of CBN if he is really confident that the charges were genuine. I mean all CBN will do is to directly debit GT's CBN account and pay Innoson directly. I have seen it happen severally. Innoson should stop playing with tribal sentiments because it will hurt his business.
He should also say the truth.
There is a lot that happened in the back ground that you don't know. This is a country where chronic debtors ruin banks and secure court injunction to secure their assets. I know that with due time the truth will come to light about the fraud and he should also produce his junior brother who is a director in his company who has remained at large for three years (the same person that forged the documents used to clear the goods).

Customer80:
you have declared yourself a novice, why commenting? Collateral was collected by GTBank (properties) apart from the 25%lc, the bill of lading is not the collateral

Oga stop making a fool of yourself. The collateral collected was for his overdraft facility of 1.4b

And the corporate Comms person @ Innoson is being economical with the truth.

The bottom line is the seller didn't trust Innoson to make good on payment and GTB stepped and the goods were consigned to GTB with the understanding that they will be released to Innoson upon 25% down payment.


This obviously didn't happen and somehow Innoson was able to clear the goods without GT's knowledge or approval.

Same thing ifeanyi UBA did with Access Bank and NNPC when he went and sold PMS stored in his tank farm.

Bishopking:
I thought deeply on the kind of condition that will make someone with 2million naira to want to become illegal in another man's country. Now here are what I came up with:

1. He stole the 2 million naira (about 6000 dollars) in the first place. So, he lacks the original ability to make money legally.
2. He inherited the money and he lacks ability to think on what to invest it in.
3. He is easily deceived by what he sees on social media
4. He is under hypnosis
5. He is a fugitive running from the law
6. He is a social outcast. e.g someone with unacceptable sexual orientation
7. He is a victim of violence, war etc

Except for no. 7 I do not see why anyone should take a risk that some of these guys have been taking.
Instead, I suggest the following:

1. The energy invested in running away through the desert can be channeled into productive ventures or to fight the possible oppression that they are running from.
2. They can learn a trade/ vocation
3. They can create their own form of 'make believe'on social media to show that they too are doing well. Afterall social media is almost 90% 'fake it till make it'
4. Develop state of calmness. A calm mind can see opportunities. Jumping at all suggestions without thinking is dangerous.
5. Participate in politics. Make your voice heard. Do not allow criminal elements in the society to be running the country.
6. Read about what dangers are on the way. Conduct adequate risk analysis if it is a must to travel. There is no point to run from fry pan into the fire.
7. Know that the grass that looks greener on the other side is watered by someone. Plant your own grass and tend to it.

God bless you.


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Well articulated Bro!

Let me explain how the road trip to Europe via Libya works.


First and foremost anybody that embarks on the road trip if successful will end up as an illegal immigrant be it Libya or Europe.

The journey is usually broken into two with Libya been the first stop over and then another insane trip to Europe by sea.

Infact the number of casualties by sea is far greater than it occurs via the desert.

The road trip from Niger republic to Libya usually cost about 500k and between 1m-1.5m from Libya to Europe. So in effect the total cost is about 2m

Now I will still ask why spend up to 2m to embark on a suicide mission knowing fully when final result is to end up as an illegal immigrant? It just doesn't make sense to me at all.

Back to my expose.....most Nigerians with our typical sharp man mentality pay for the trip to Libya which cost 500k and agree with the agents to work briefly in Libya to raise money for the final trip to Europe. Hence the reason why most get stuck in Libya without proper papers and doing odd jobs here and there and some even engaging in crime and the ladies forced prostitution. The agents that facilitate these trips are part of a larger international human trafficking syndicate and they even go as far as telling the gullible travelers to take swear to an oath of secrecy. Eventually some get sold as slaves and the ladies as sex slaves. In my own candid opinion the risk is not worth it at all.

I will tell you about one of the returnees who was rehabilitated and church financed the purchase of a tricycle for him. He makes between 90k to 120k a month net of expenses in a month. He looks back now and regrets even taking that decision to travel.

There is even a lady that has set up a make up and catering business and is not doing bad.

Truth is even with 500k in Nigeria one can still start something despite all the hardship.

God bless Nigeria!

Uyiii:
you've not 'wondered' enough, you'll have to 'wonder harder'.
I won't advice anyone to embark on a life threatening journey as this, but the reality is people are really suffering more than you can 'wonder' and they can only find solace in hitting the road.
9ja's really a mess both for the qualified and unqualified, this kinda movements will linger on for a very long time.
Factual prophesy.

Naija is a mess......naija is a mess. All is a fallacy. There are still pockets of opportunities in the country just that we have been blinded by our get rich quick and short cut mentality. After all Chinese, Indians and even lebanese people are leaving their country in droves to come and make money in nigeria. I assist a NGO that rehabilitates some of these returnees (facilitate and provide training for those interested in setting up small businesses in my free time) and you will be shocked to hear that some of these guys pay up to 2m to embark on these suicide trips.

There was even one that had a flourishing palm oil business in the east but sold the business and went to Libya en route Europe only to be deported. He is now trying to piece his life together.

The question is why would I pay as much as 2m to travel to Europe where I will an illegal immigrant when I can use the same money to set up a small business and grow the business over time

Or do people think the suicidal trip across the desert is for free?

Nesso:
U d one who shud stop the hate, bitterness and bad belle. Watz do u mean by stupid oil money? Datz bitterness and bad belle right der.

Yeah stop the hate. The project was and is still privately funded getting support even from Carter Foundation, Ford Foundatio, Bill Gates and Facebook. The fact that it's privately funded is the more reason why the library is still operational and well maintained

I will also advise to stop having tunnel vision. Very soon oil will no longer be relevant. Other countries are developing renewable energy, you are still shouting our oil. You can take the oil and shove it where the sun does not shine.

Congrats but why post it on social media though?


Would have been better to just do this act of kindness without all the publicity. The moment it's posted on social media and made public it loses its appeal.

Merry Xmas!



P.S I also see that she is still in the market so maybe this is another way of advertising herself

Lies from the pit of hell. They have been selling @ N145 even when dollar was upside of N400 and now dollar is relatively stable and oil marketers get first preference from CBN @ N306 other non oil importers and retail users get dollar @ N360 so I really don't know what the marketers want?

My question to them is have they not been making money even when dollar was scarce?

Why the clamor to increase fuel price and why wait till festive period to push this agenda?

The solution is to have 5 or 6 major downstream players and to be honest I cant wait for dangote to finish his refinery.

God bless Nigeria

Lovely. God bless her and the family and the children will be a blessing to their generation

In other news I hope the man does not have a "Nigerian Wife" tucked away somewhere?

Because na the usual format be that!

puremind1:
Thanks for your brilliant submission. The ipobs in particular and Igbos are too senseless to understand what you wrote. Innoson is already dead with no credit worthiness. it takes two to tango. Since he has gone tibal, only ipobs will buy his pirated and assembled cars.

Leave the ignorant people..they should go and ask Ifeanyi Uba of Capital Oil and Chief Ibeto. No bank does business with both of them after the bitter experiences. Infact ifeanyi uba went as far as duping his fellow kinsman Cosmas Maduka who then was a Non ED in a tier one bank and used his influence to secure loans for Ifeanyi UBA to open letters of credit to import fuel. As usual he also diverted the imported fuel after the bank has confirmed the LC which eventually resulted in Cosmos resigning from the Board of the bank.


The Ibeto story is also similar and resulted in the liquidation of one of the banks before Soludo's consolidation.

wirinet:
You that is Einstein, why not inform and educate us lesser mortals.


But, the GTB that you know that have concrete evidence had lost 3 cases at the courts.



I did not know that GTB accused Innocent Chukwuma of defaulting on his loan, I thought the accusation by GTB bordered on fraud and forgery and that was why EFCC was brought in.


And how does this affect this case.



Of course, we will know the whole story around the 500 illegal deductions from innosons account very soon as the case is before the Supreme Court. Just wait for the final judgement by the supreme Court.



I doubt my Igbo brothers know the answer to the above question, but you that is in the know, why not educate us.


Slander is exactly what you are doing, because you fail to provide evidence that innocent Chukwuma always cut corners and you also failed to provide evidence that all Nigerian banks have resolved not to provide credit guarantee for innoson.


Slander as above. Please provide proof for your allegations and speculations.


Bullshit! Most of GTB's business is in Nigeria. The Nigerian business is more than all other African countries added together. What is the size of GTB's business is Ghana, Benin Republic and all other African countries? The Lagos economy alone is the fifth largest economy in Africa.


If they have that much money, why are they running from pillar to post to avoid paying the court obtained money to innoson. At the end of the day? They will lose more than the N billion due to damage to their reputation and brand.


But they do not have a duty to depositors when they deduct stupid charges from customers accounts everyday. They did not have a duty to protect depositors when they deducted N500 million (as admitted by them) from innosons account.


Irrelevant rant. This has nothing to do with Igbo,Yoruba or Hausa. It has do do with stealing of our money by Nigerian banks and not only innocent chukwuma. Some Nigerian banks are notorious for fraudulently
deducting money from customers accounts and GTB is one of them, and this had been going on for a very long time. GTB over did it this time.

I won't give you the benefit of answer because this is social media.

Richy4:
Please can someone knowledgeable in this forum explain to me something I saw on that letter... why did the bank refer itself as "corporate citizen"instead of corporate organisation...

because there is a difference between both!

Gerrard59:
While I appreciate your comment and knowledge about the system, how come he has won three cases against the bank?

The judicial system in Nigeria is one of the most corrupt in the world. You and I know this. It's always very easy to bribe for a case to be ruled in one's favour. Even the story around the excess charges is not been told as it truly happened.