₦airaland Forum

This is a good question , i would like to know the answer too .

spaceworld:
joelala,,
Can u tell more about it, i will appreciate if we can talk on this on another thread, because this is mainly stock thread.
or send me more details to spacewealth@yahoo.com

egoldman
i need to buy egold can you help out?

Am sorry i do not sell e-gold , i got this name during my days with online hyips , thanks .

Oga Frank how you dey ? longest time oooh

willywilly:
were you expecting Nigeria to ranked (1st)?
Nigeria's have to jubilate for ranking 37th,
Don't you know that Nigeria and Somalia are the worst country in Africa.
Kei!! chei!!!haba!!!ewo!!!!, FULANI/HAUSA/YORUBA Una don see dey condition wey una put this country into? kei!.
Fulani/Hausa una don see wetin una bring for Nigerians.
Because of you people, Nigerians are now living like medieval people, earlymen.
Please Hausa/Fulani, make una tell me when this Una WAHALA go end? Kei!

completely senseless and extremely stupid , by the way am an igbo guy .

Nigeria: With $2 Billon, We'll Improve on Our QoS - Farroukh



Vanguard (Lagos)




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Vanguard (Lagos)

8 October 2007
Posted to the web 8 October 2007

Miebi Senge
Lagos

MTN Nigeria Communications, the leading mobile provider in Nigeria last Wednesday caused the biggest move in an already charged industry with a $2 billion loan syndication involving 14 local and foreign banks.

Described by Mr. Ahmad Farroukh, CEO, MTN Nigeria as the "biggest by a single telecommunications company anywhere in Africa," the loan syndication would enable the mobile provider to expand on existing infrastructure, and build on new transmission facilities to meet growing demands.

"We would use the additional funds to perfect our quality of service (QoS) to prove we're not just successful, but care about Nigeria," said Farroukh, at a post event medial briefing held at the Eko Hotels & Suites, Lagos. The issue of dwindling QoS has recently become a matter of national discuss with the House of Representatives mandating it's Committee on Telecom to investigate activities of both the operators and regulator - Nigeria Communications Commission (NCC).

According to Farroukh, the company has since winning the digital mobile licence in 2001, embarked on a "relentless investment drive in rolling out critical telecommunications infrastructure across Nigeria," with a transmission backbone comprising about "8,497 km of microwave radio and over 4,000 km of fibre optic transmission across Nigeria" making it the most extensive privately owned transmission infrastructure in Africa."

The NCC took up the burning issue of QoS tough with all three major operators in Nigeria recently. In a 20 September 2007 'Notice of Intention to issue direction to MTN Nigeria' by the Commission in Abuja, Felix Adeoye, Secretary of NCC threatened that it would compel a compensation regime per month on the mobile provider.

According to Mr. Adeoye, the Commission would use a "Traffic Channel Congestion parameter' as key performance indication to charge the operator for offences related to poor QoS. The Commission says the punitive regime would take effect from October 1 and would compel MTN to pay between N50 - N175 as compensation to subscribers at the end of October 2007.

"The Compensation to subscribers for month ending October, 2007 shall be paid on or before November 7, while compensation for subsequent months shall be paid on or before 7th day of succeeding months after such compensation becomes due. Compensation shall be payable to subscribers by way of airtime credit and no limitation shall be placed by MTN on utilisation of such airtime credit," Adeoye wrote.

Industry analysts in Nigeria believe the new $2 billion loan syndication indicates a critical confidence vote on the MTN Group's Nigerian operation. "Today is momentous because for the first time ever in Africa, a local and international financial consortium is granting a facility of $2 billion to a single telecommunications network - MTN Nigeria. No individual telecommunications company in Africa has ever benefitted from a loan of such magnitude in a single tranche," said an elated Farroukh.

Confidence in Nigeria

Mr. Farroukh, believes the loan also represents measure of its confidence on the potentials of the Nigerian economy and its ability to absolve such facility. Its also an indication of the company's growth projection for the coming years. "We, at MTN, have significant confidence in Nigeria. Since winning the digital mobile licence in 2001, MTN has embarked on a relentless investment drive in rolling out critical telecommunications infrastructure across Nigeria. We continue to deploy a considerable number of base stations, mobile switching centres and base station controllers across the country. I must not forget to add our investment in power, as MTN generates in excess of 60MW of electricity to power its operations across the country."

"Globally, it is now an established fact that telecommunications is an essential driver of social and economic growth and development. We recognise this at MTN. And for this reason, our operation is driven by a passionate desire to spearhead the unleashing of Nigeria's enormous development potential. We are very proud of the modest contributions MTN continues to make towards fostering economic growth and development across Nigeria."

As part of the confidence building measures, the mobile network is also taking steps to get listed on the floor of the Nigerian Stock Exchange, (NSE) in Lagos. "As you know, the MTN Group is already listed in the Johannesburg Stock Exchange, and we have began the process to get listed on Nigerian Stock Exchange too."



Global co-ordinator of the project is the South African Standard Bank Group and its Nigerian subsidiary, IBTC Chartered Bank, PLC. Divided into three 'Facility' A, B & C; it comprising an international facility mandate led by Standard Bank, Commerzbank, China Construction, KfW, Nedbank, UBA, GT Bank and CitBank. The balance N205 billion was denominated in Naira.

The 'facility A' involves a N142.2 billion underitten medium term discounted note issuenace facility. It priced over 90 day NIBOR for the preceding 90 days, with a five years tenor. Repayments terms include '50 per cent bullet after three (3) years and 50 per cent final repayment in the 5th year'.

The 'facility B' involves a N63.8 billion revolving medium term discounted note issuance facility is priced over the 'relevant NIBOR rate for the preceding period', with five (5) years tenor. Repayment starts "five years from the date of the Note issuance and revolving credit facility agreement.' The 'facility C' is a $400 million 'term loan' priced over 180 day LIBOR with a five years tenor. Repayment carries '18 months capital grace, thereafter eight ( equal semi-annual installments'.

source : http://allafrica.com/stories/200710080203.html


who do they think they are deceiving that they love Nigeria ? if they love us why not raise the $2 billion as a public offer from Nigerians ?

ibkn:
well lets think of this.
1 MTN is said to post 800 million dollars as dividend to their south african parent company last year from nigeria. that to me is a major capital flight, from nigeria.
2. yes the nigerian stock market is deep enough to swallow dangote, then why can't it swallow MTN. at least banks will underwrite 80% of the issue, the average capital base of a nigerian bank is 44 billion naira.
3. GLO is a private company and it will come to the market when ETB stops funding them.
4. MTN problems lies with Obasanjo. when he was granting them licenses he didnt keep a cluase that they should get quoted on the NSE, if he had then they would have plans to do so.

This is why i love indians , they always have this sort of clauses with every foreign company that comes to do business in their country , but then i don't think its yet late, policies can still be formulated to address that .

It all depends on your risk taking abilities and your investment strategies , personally if i have ten million naira that i may not need in the next 5 years , then transcorp will be my choice , with the assets they have its only a matter of time for them to start making profits .

joelala:
hello all,theres a great online program where u can make money evryday by jst buying shares worth $5, its called http://www.greatearnings.net/?ref=1633, u don't need to refer anybody before u make money.its a great program and couple of people ave been earning from it, $5 is worth risking so you can jst give it a try, i am presently earning from it, http://www.greatearnings.net/?ref=1633, tnx

I know about greatearnings , but plz this is the wrong thread for it , thanks .

6 months to verify share certificate ?

RoughCut:
There is an argument that Oceanic will not be subject to the SEC requirement that companies can only absorb to the tune of 25% of the oversubscription from the proceeds of any share offer because the directive was introduced after Oceanic had gone to the market but it has also been argued that the directive has always been there.

The point is if they absorb all the proceeds they will have a total of ~22B shares outstanding and that in my book is serious dilution thereby squeezing the margin for bonus and splits

Nigerian Oceanic bank issues $1.4 bln in new shares
Mon 8 Oct 2007, 12:56 GMT
[-] Text [+]

LAGOS (Reuters) - Nigeria's Oceanic Bank will issue 174.6 billion naira in new shares following a public offer that was oversubscribed by 215 percent, the issuing houses said in a notice on Monday.

Oceanic's is the latest in a series of bank share offers in Nigeria, which have raised about $8 billion since the sector went through a radical restructuring in 2005.

Oceanic had originally sought $431 million in the offer that closed in April, but the authorities allowed it to issue shares for the surplus subscriptions.

"The Securities and Exchange Commission has given its approval to Oceanic Bank Plc to accept the excess proceeds of the offer by way of supplementary allotment," the notice said, adding that the offer was 315 percent subscribed.

The operation means that Oceanic will now become Nigeria's largest bank by shareholders' funds, although its supremacy may be short lived because other bank offers are under way or being processed.

Oceanic had said when the offer opened in February that it would use the proceeds to strengthen its capital base, upgrade technology and expand its branch network locally and offshore.

The reforms to Nigeria's banking sector reduced the number of banks from 89 to 25, generated huge cost savings and triggered a cycle of dramatic growth in the sector.

Oceanic posted annual earnings after tax of 9.55 billion naira in 2005 to 2006 and has said it expects this to double in the 2006 to 2007 year, which ended in September.


source ; http://africa.reuters.com/business/news/usnBAN843091.html

tenik:
think denying bill gates visa is just to protect him, he,s not going to benefit from us, he.ll only come to make a positive change or something to improve the country. So its nothing to feel great about that he was denied visa because he has nothing to lose. They will go ahead and give visa to people that will not benefit the country and those that would do something, they will act ignorant. Rubbish i,ll say.

Its not about feeling great , its about following the rules , and mr gates must not be an exception .

Jakumo:
Only a person who has never been felled by a malaria attack can afford to intellectualise and downplay the world-changing significance of the funding being provided by the Bill and Melssia Gates Foundation to speed up the search for a cure and prevention of malaria which claims the lives of millions of children annually in Sub Saharan Africa alone.

There is no historical precedent for the sheer scale of monetary outlay with which this man, Bill Gates breathes new life into that battle against malaria along with many other worthy charitable causes worldwide, yet the full ripple effect of his strategic philanthropy may take decades to be recognised as the masterstrokes of lasting good that they are.

Bill Gates is an all-American living legend who is giving away 95 % of his epic wealth to that forgotten part of the world - The Third World, and as such he ought to be accorded the sort of formal welcome reserved for heads of state wherever he travels in the world.

Thank God for what bill gates has been doing with his money , may God bless him very well .
however he must respect the rules , he must fill all the form correctly and if his bank account details are needed , then he must provide them , failing to do so he should be rightfully denied the visa .

eryck:
WHO HAS SAID SO, READ IN BETWEEN THE LINES

MAYBE

MAYBE YOU DONT KNOW THE DICTIONARY MEANING OF WORSHIP. EVEN IN THE DEVELOPED WORLD THERE IS PREFRENTIAL TREATMENT.WHY DONT YOU TRY TO BE A PHILANTROPIST IN YOUR OWN LITTLE WAY. odeeee!!!!


YOU ARE ONLY TAKING IT PERSONAL & STOP ACTING LIKE A TERRORIST (EXTREMIST)

DONT TELL ME YOU ARE THIS BROKE

DO YOU REALLY KNOW THE REASON FOR HIS DENIAL. DONT BE SARCASTIC


WISE ONE ARE YOU MORE EXPOSED THAN MYSELF

NA You KNOW PASS, DO You KNOW THE MEANING OF FORUM, YOU NEED TO WORK ON YOUR ATTITUDE.WEIRD FELLOW

Completely senseless

Its now clear that some Nigerians can sell their souls and dignity for money , bill gates must follow same rules like everyone to obtain Nigerian visa , if he fails to do that in anyway, be it by not filling forms correctly or not giving his bank account details, then he should rightfully be denied the visa , you can call it oversight or whatever you like , but remember others that might make such mistake cannot be said not to be an oversight too, the bottom line is this , Nigerian consulate must not treat bill gates differently cos even America his country does not do that .

When Bill Gates applied for a visa for a recent trip to Nigeria,his paperwork hit a snag. The Nigerian government required proof that the billionaire chairman of Microsoft (MSFT) would not stay in the country and become a drain on Nigeria's social services. The company helping him with his application, travel document expediter CIBT, obtained a letter from Gates' bank that reassured the Nigerian authorities, and the visa was approved.

source ; http://www.businessweek.com/smallbiz/content/oct2007/sb2007103_255925.htm?chan=smallbiz_smallbiz+index+page_top+stories

if there is mistake in mr gates documents , then the immigration 110% right to deny him visa until he corrects it .

jayon:
lol, i have a friend who has a nigerian passport and he is a cameroonian what do u have to say to that, instead of you people to be happy that the richest man in the world is coming to invest in your country, u are denying him visa ,

he was not denied visa, he was only ask to obey same rules just everyone.

Purist:
I agree with femionasan.

Has anyone also noticed that this story was lifted from a blog, which was also gotten from another blog? Until I see a direct link from a reputable news website that confirms this story, I'll take this as another attempt by the white folks to disparage our beloved country.

But assuming the story is true . . .

@egoldman, I'm yet to read any part of that reports that says, "Bill Gates was refused viase because he filled his visa from incorrectly". Or are you reading yours in Hindi language?

@Big B1: What "law" are you talking about?

and how do you think mr gates should prove that he wont overstay in Nigeria ( am sure u don't accept that he has prove that just like everyone else) or are u saying that requirement is not in the Nigerian visa form ?
the issue is this , If the nigerian visa rules says you have to prove the consulate that you wont overstay, weather that prove should be in writing or verbal , anyone must obey and do it including mr gates.
again i say i have nutting against the man , in fact i love him for what he has achieved , but he must pass through the same check as others to obtain nigerian visa , he is not a super human being that should be treated differently .

That mr bill gates would leave Nigeria on or b4 the expiration of his visa is one thing and that he must fill the section of the visa form that supports that is another , the later is a must anyone wishing to visit Nigeria fill it including bill gates, chikena .

In all visa forms that i have seen , its compulsory that the applicant fill the section where he or she is required to prove that he will leave the country on or b4 the expiration of his visa . if mr bill gates didn't fill that section , then he must not be issued the visa and the reasons should rightly be that he didn't not prove that he would leave Nigeria on or b4 the expiration of his visa .

Pip:
Nigerian immigration is just DAFT. They can allow smuggled goods and alliens and rogue governors in but a very respected business man no show. Someone just wanted to be in the news that's all

yeah and why did the eu fine his company microsoft heavily for their unfair business practices ? i have nothing against the man , but i refused to accept he is a super human being .

Its not about any victory , its not about being able to pay our national debt or anything like that , the rule is that the form should be filled correctly , so if my bill gates had not filled them correctly , then he should not be issued visa , he must filled the form correctly according to the rule, chikena

i just dey watch that company, will make my move as soon i think its the time , but for now , am watching every of them moves.

The free fall of the share price of this mega conglomerate has not taken the shine off its inherent potentials. It takes an investor with a long term view to reap from company’s goldmine, Chinedu Dike writes.
Many investors are finding contrarian investing an attractive option. It is an investing approach that tugs at the opposite side of the capital market. The contrarian investor heads south when the market is heading north and vice versa. He takes the exit in a bubbling market and enters when the market is on the roller coaster down the hill.

Contrarian investors not only target a bearish market, but also look for stocks that are flat and out.

Under the prevailing slide in the Nigerian capital market, there are so many stocks that are ready for the takes by investors whose strategy is to move against the market. Transnational Corporation of Nigeria (Transcorp) Plc stands out among these stocks.

From a post IPO price of N9.70, the stock has maintained a steady fall of over 50 per cent to N4.70 as at Monday September 24, 2007. And there appears to be no end to the fall.

While this slide is giving some investors nightmares, for others, it is an opportunity to reap huge returns in future. For the latter group, the right move is to mop up as many shares of Transcorp as possible now.

Listing

The admission of the company into the official list of the Nigerian Stock Exchange (NSE) marked a watershed in the life of the multi-billion naira corporation.

The company listed a total of 18.554 billion shares at N6.0 per share, thereby boosting the total market capitalization by N111 billion.

Bernard Longe, the immediate past managing director and chief executive, said the pricing of the stock at N6.00 was a way of enabling Nigerians of all income levels to buy into the company.

Prior to its IPO, about 3,000 Nigerians and organizations were said to hold stakes in the corporation. This figure expectedly grew significantly following the conclusion of its IPO.

Longe also disclosed that about N50 billion would be invested by the company in the oil and gas sector, while there would be strong focus in the telecom sector, with the objective of revitalizing Nitel and in particular, M-tel the mobile telecom arm. The focus now is not on re-branding the acquired companies, but to make sure that they are revitalized, restructured and performing at optimal levels.

Price movement

Since its listing, the price movement of Transcorp stock has not been encouraging. The mega conglomerate on November 18, 2006, listed 18.554 billion ordinary shares of 50kobo each on the floor of the Exchange at N6.00 per share. The market price started climbing even as observers said there was no justification for such price rise.

From a listing price of N6.00, the stock shot to a high of N9.71 per share.

The listing was a prelude to the company’s initial public offering (IPO) which opened Wednesday, December 27, 2006. It was scheduled to close Wednesday, January 31, 2007 but was extended by two weeks to close February 14, 2007.

During the offer period, the price of Transcorp’s share stagnated at N9.71 per share, a discount of N2.71 compared to the offer price of N7.00 per share.

Following the conclusion of the offer, the Stock Exchange accordingly lifted the suspension on the price of Transcorp on Friday, March 2, 2007. On that same day, the stock lost 94kobo to close the day at N8.77 per share. At the close of trade in the new week, Monday, March 5, the stock dipped further by 44kobo to close at N8.34.

In a rather curious manner, the authorities at the Stock Exchange slammed another technical suspension on the stock at the price of N8.34. The explanation was that it should not have lifted the suspension on the stock March 02, as the receiving agents to the offer were yet to make returns to the issuing houses.

Another curious development was observed a month later on April 5, when the suspension was again lifted, and the price fell to N7.93 after losing 41kobo from the one month suspended price of N8.34.

Perhaps the most intriguing development occurred on April 11 when the Exchange placed the stock on another technical suspension, and this time on the pre-offer price of N9.71 as against the market price of N7.93.

Transcopr’s IPO was listed at N6.00 even as its price was at N9.73. For the past one month, the stock has maintained a free fall in price closing at N4.41 as at September 24, 2007.

Investments

Transcorp is the core investor in the Transcorp Hilton Hotel. It recently assumed the management of Nitel Ltd and its mobile subsidiary, M-tel, in which it won the right to acquire 75 percent equity.

These mega acquisitions illustrate Transcorp’s ability and strategy of rapid growth and expansion.

The organization said its intention is to pursue business with rigorous adherence to the finest traditions of ethical and social responsible business conduct.

Strategic restructuring

Transcorp plc said its mobile telecommunications subsidiary, Mtel, will roll out service in 22 cities over the next nine months. Tom Iseghohi, group managing director of the mega conglomerate announced this recently as he gave a brief on the activities of the company since he took over the management of the corporation.

He said services on the Nitel landlines have significantly improved as the lines are now powered by a fibre optic loop that connects Lagos and Abuja .

"The landlines are now functioning perfectly in the Abuja areas such as the embassies and other customers that are serviced by the network. In the next few months, our plan is to put Lagos , Kaduna , and Enugu on the fibre optic network so that the consumers in those areas will begin to enjoy good services."

Contrary to earlier reports, Iseghohi said Transcorp is partnering with a United States telecommunications firm for technical assistance to drive the operations of Nitel and Mtel. He said the technical partner will be announced in the next three weeks and negotiations are going on with other technical partners in South Africa , and Mexico , with the overall objective of helping to transform the telecom industry in the country.

Speaking on the potentials of Transcorp/Nitel, the corporate turnaround strategist said Nitel remains one of the biggest assets of Transcorp. "Nitel is connected to the SAT 3 fibre optics network, and the fibre optic is the only backbone that connects to the rest of the world. It is very stable and reliable, as against the satellite powered network on which the existing mobile telecommunications systems run."

He explained that Nitel through the SAT 3 network will be able to deliver cable TV services, stable internet access and more via the landlines. "With the system, one Nitel landline will give you access to cable TV in all your rooms as against the current system where you have to pay for every TV point using the satellite system."

New management

Iseghohi said another focus of his management is to attract top grade talents to drive the operations of Transcorp. In line with this resolve, he introduced two turnaround specialists with financial expertise and vast experience in corporate strategy.

The two persons are Kelvin Crusoe, and Patrick Okigbo. Crusoe, with 26 years experience in corporate transformation in the telecommunications sector has the mandate of re-engineering Nitel/Mtel to operate at the highest level of efficiency. His entry into the company is said to be responsible for the improvement that is being recorded in the company. Okigbo on the other hand has over 20 years experience in financial management. His working experience cuts across the US Postal Serices, USAID, and US Defence.

The GMD said Transcorp’s operations have been structured on a model that delivers nine programmes with a total of 22 projects.

Target earnings

Transnational Corporation of Nigeria (Transcorp) plans to grow its revenue to N635 billion ($5.0 billion) over the next five years to 2012. It expects rapid appreciation of its market price to hit N50 per share within the next 24 months.

Iseghohi announced this at the listing IPO of 2.899 billion ordinary shares of 50k each at N7.50 per share.

The GMD also announced that the company is very likely to pay dividends and issue bonus earlier than is projected in the IPO document.

He said the target and the optimism surrounding it is driven by the locked up value in the mega corporation and the turnaround initiatives currently being executed by the new management.

He said the company will soon launch a 100 -day turnaround programme called Project SPACE (Speed, Performance, Action, Cashflow, and Execution). Already, some milestones have been recorded under the programme, which includes the restoration of 70 per cent of NITEL backbone, restoration of MTEL in 16 cities and the consummation of a technical partnership deal that will generate a revenue of up to N35 billion with CISCO, Dimension Data, and Cable & Wireless.

Transcorp has also secured N13 billion funding for NITEL’s fibre optics networks and completed the conceptualisation phase of a real estate mixed use development in Ikoyi, a choice area of Lagos, that will deliver N10 billion in positive cashflow.

Another major development is the move to collect more than N29 billion NITEL debts. A reasonable portion of the job has been done.

On the financials, the GMD said as is expected of a new company; Transcorp will record a loss of about N9.78 billion in the current year 2007, but will bounce back in 2008 with a profit of about N5.7 billion, and remain profitable for the subsequent years.

Shareholders’ fund is also expected to grow to N25.9 billion in 2007, and N31.65 billion in 2008.

Iseghohi said the balance sheet of Transcorp has been realigned by way of transforming short term liabilities to long term assets.

Stockbrokers at the briefing expressed satisfaction with the achievements of the management within at short time of taking over the running of the company.

Prospects

Transcorp has bright prospects with the drive of the current management. The company also has interests in very strategic sectors of the Nigerian economy such as communication, tourism, and oil and gas among others. It has also entered into strategic partnership with a number of world class organisations with the aim of establishing a profitability profile for the company in the shortest possible time. At the current price of N4.41 per share, investors pursuing a contrarian strategy have a good entry window for quantum returns. But a major condition for this to come to pass is that the investor must be ready to hold the stock for long.




source ; http://businessdayonline.com/Investor/361.html

one love bro

With the assets they bought , there is no doubt that they would turn the company around , the thing is when would that happen ? or is it happening already ?

I bought oceanic @27 and would soon play hide and seek with those that bought their PO and have been waiting for the certs,i have to sell it again once they start getting their certs verified , we know they should have them any moment from now.
therefore i have this question; how long does it take for one's cert to be verified with the cscs ? i mean on the average .

busaboy:
Hello,

I did some research on them in the past, they are highly recomende but their fees are the highest in the industry.

They operate n about 30+ countries form the lilst on their site but i do not think they extend their card services to nigeria.

let me know if you have any luck with them

Best wishes.

Are u sure u are talking about goldkobo here ? cos on their main page you will see the following msg ;

NOTICE: GoldKOBO exchange services are available to Nigeria residents only.

edited .

larriederm:
thanks Edochman,
though is not new but its educating! what battle me most is HOW DO THEY GET SOMEONE MAIL AND HOW CAN SOMEONE BLOCK IT? CAN SOMEONE HELP PLEASE!

There are paid and free email grabbers online , its a kind of software that would scan the net for email addresses like those posted in forums,blogs and so one , once installed and in use , it can scan the net for any possible email ids that is can locate and show them in good format where you may send email to all of them at the same time .
you can not possibly stop all the spam that come to your inbox , but you can minimize it to very manageable level if you use webmail like yahoo mail , paid version and pop client .

419 is bad , but it takes two to tango , 90% of all the email they send is all about 1, help me move money from my country which i don't want the government to know about it , does that sound like someone doing something legal ? ofcos not , but the mugu don't see this , he only sees the 30% cut that was promised to him , thats the mind of greedy person who does not care for the hungry masses of africa .
2 , you have won some lottery , which the mugu knows 100% he didnt play no lottery and yet he went ahead and sent his details and start the process of claiming money for lottery which he didnt play or buy the ticket, thats trying to reap where he didnt so , then he got his fingers burnt in the process, is he and innocent victim here ? ofcos not.

3 , they claim they are son or daughter of some late head of state , like abacha and want you to help them move money that abacha kept secretly before he died , now tell me , we all know abacha was a crook and yet oyibo man instead of having mercy for the hungry masses of nigeria who rightly owns the money , he tried to help them to move the money out of nigeria so he would get his promised cut, then he got his fingers burnt and you tell me he is not a greedy mugu abi ?

what point am i trying to make here ? that 419 is good ? definitely not , its very shameful , but plz listen to this , as far as there are whitemen or asian or whoever they are that are ready to help corrupt Nigerians or Africans move illegal money secretly from their country so that they would get their promised cut from the money, then there will never be an end to 419

so what should the solution be with regards to this ? my answer; the mugu and the master (guyman) should be treated as same, yeah in any case of 419 , it should be investigated and if at any time the mugu should have known that what he was getting into was illegal and still didn't contact the police and get out, then he is an accomplice and no more a victim.

i rest my case .

Same goes for lottery format, How on earth would anyone believe that he won lottery which he is sure he didn't buy any ticket for it in the first place ?