₦airaland Forum

[quote author=A-ZeD]Question for Jarus

A large section of the Nigerian sector is informal; Don't you think as an accountant providing consultancy services (Tax, wealth Management e.t.c) for this people is a potential gold mine?[/quote]I agree it is, but can it fetch me 1m per month? That's the 'risk'.

icon8: Aig & Herbert actually left GTBank as Executive Directors (EDs) in 2002.

Thanks. Imagine, ED at 34.

As for those that rose within a short time without establishing their own business, I think there are no two ways about it: you have to be good.

If you are very good (and admittedly lucky), I think you can have your way to the top quickly too.

On this route, the following can be factors:

1, You being very good
2, Attending a good school (networking opportunity)
3, Finishing school early. Imagine starting working at 20. By 28, you have 8 years working experience. That's enough to run a company or a big department
4, Working close to 'Oga at the top'. If you work closely to the Group CEO, you stand a good chance of your competence and work being noticed early, and projected to career rise. That's why it's better to work in Head Office than in oen hinterland branch.
5, Diligence, integrity and hardwork. You can't wish away these qualities. They are very helpful is rapid career rise
6, Luck and opportunity. Some circumstances may just work in your favour. Your boss being posted to a new position or leaving, and pronto, you are given the challenge. Lucky you. I know people that got high position through these events.

Updated: This post inspired me to do a blog post on teh subject: http://jarushub.com/2013/07/04/5-routes-to-rapid-career-rise/

Stories of young and successful that interest me more are those that never had headstart in terms of being put there by their parents or so (e.g Paddy Adenuga, Kola Abiola, Ladi Balogun etc), but those who were just average Joes and rose to high positions at young age.

Look at:

Atedo Peterside, founded IBTC in 1989 at 32
Fola Adeola (at 35) and Tayo Aderinokun (at 34) founded what is GTB today
Herbert Wigwe and Aig-Imhoukhude, both left GTB at 34 years of age, to found Access Bank. When they left GTB, they can't be less than AGM. So AGM at 34 was an achievement on its own.
Tony Elumelu was in his early 30's when he co-founded STB and became CEO.
Jim Ovia was also in his 30's when he founded Zenith Bank.

All these guys (except Wigwe and Aig) founded these banks 1989-1990. Before that time, we had the old school banks (Union, First, Wema, Cooperative, Savannah, UBA etc), later dubbed First Generation Bank. These guys, most of whom, were working in these banks, probably thought there were more innovative ways of providing financial services than what these conservative First Generation banks were offering. That's an opportunity. Pronto, they explored it, and coupled with IBB's liberalization policy of the era, they established the banks. A couple by the old folks (Adekanye, Osayemah, Femi Ajayi, Duro Emmanuel etc) failed, but these young guys' became mega successful.

Atedo Peterside came back from LSE and realized merchant banking as was practiced in Nigeria was still crude. That's an opportunity. He floated Investment Banking and Trust Company (IBTC) in 1989, to do just one thing: investment banking. He made it.

I think it is about recognizing an untapped opportunity quickly and grabbing it.

I told the stories of 2 Nigerian 'young and successful' in my blog:

Bank Subsidiary CEO @ 27: http://jarushub.com/2013/03/17/young-successful-the-inspiring-story-of-akeem-oyewale-chartered-accountant-at-20-bank-subsidiarys-ceo-at-27/

Oil company CEO @ 29: http://jarushub.com/2013/03/21/young-and-successful-from-toilet-cleaner-to-oil-company-ceo-the-story-of-yomi-awobokun-oando-marketings-ceo/

I also interviwed the CEO of Accenture Nigeria, who got that position at 40 (though relatively old): http://jarushub.com/2013/03/31/i-failed-math-in-year-1-because-i-thought-what-worked-in-secondary-school-would-work-in-university-niyi-yusuf-ceo-accenture-nigeria/

Olucheye: PLEASE HELP WITH YOUR THOUGHTS ON THIS THREAD.
https://www.nairaland.com/1347481/how-young-successful-nigerian-career

Ok sir.

Yeah, Ade Bendel, Fred Ajudua and the one that was later elected into House of Rep and later died.

And these guys spend all these monies on musicians: Kwam 1, Adewale Ayuba, Obesere and co.

yuzedo: Ba..Ba..BADOOOOO!!!

This man still dey.

Before 419 became this popular, far back 90's, these guys were known as '419 celebrities'.

Father of 419 in Nigeria.

[quote author=A-ZeD]Agriculture..
I would have said I.T but starting an I.T company in the hope of making money would lead you no where. You need passion.[/quote]True.

Billyonaire: Forget the money. Money isnt everything.

I am not sure that this OP has been on NYSC, the NYSC handbook has all the many objectives of the scheme, some of which are cross-cultural orientation, ideological interchange, self reliance and etc. The Experience I had at Osun State cant be traded.

NYSC is one of the best things to happen to any Nigerian Graduate, it positioned me mentally for this successful future, without which I would have been just another guy on the street.

Money cant buy the NYSC experience!

Co-signed.

hmmnn

Emperoh: IT comes to mind. The other is the power sector. . . . .but who has the billion dollar might to play there?

Yeah, but IT doesnt require much capital, just special skills.

Remember the teenager that sold something to Yahoo!(or was it google) for a fortune recently.

yuzedo: Jarus, bro, respect. How are you chief? Let's play soccer sometime. I bet i could mess you up on the pitch on a good day!

From your Banana Island mansion, just cross Lekki toll-bridge to come meet me at Lekki sports complex (Admiralty)

How can anyone refer to Emmanuel Ojei as a 'new billionaire'.

Far back 15 years ago, he was rated in Top 10 Richest Nigerians.

No room for poor performance again. You perform badly, and you are booted out.

yuzedo: Duh! no suprises

Anyway Herbert is my bois. I know all of him and his broda + sistas. congrat my boy i always new u will maked me proud das why i neva gave up on u cos i new one day u gonna be MD.

is time to celebrate. my bois are doin well. i will call his bro Don Waggy dis nite tho his in abroad. i will cross d fashala tollgate brige to sellybrate wit dem in lekky face 1

Yuzedo, u don kolo patapata

How your Banana Island mansion dey do nah?

[quote author=T.S]When they started there were many small banks. There was room for growth and development. All banks today are big and top heavy. Promotion cannot be as rampant as before[/quote]The question is: which sector is young and has fertile potential in Nigeria now that one can easily plug into?

Rexphobia: Na FBN u dy work?

Nah, I don't work in a bank.

Emperoh: The guy you quoted above was correct but i am not sure if i will give a tightened noose as a reason why it isn't possible these days.

It is left for us to decode a sector that could be as big as the banking sector to be able to make such cool age achievement. The power sector seems like it, but abeg who get that kind capital?

Kudos to them!

The banking sector appears locked now, I agree.

Sometimes, when I read those guys stories, I feel like resigning and go float my own outfit, but fear go catch me

Honestly, something keeps telling me I can operate a successful consultancy, based chei, the risk dey fear me. A lot of things with this job one does: guaranteed salary, free medical for one and family, bonuses, less stress compared to when the business is yours etc. The stake is just too high.

Emperoh: The guy you quoted above was correct but i am not sure if i will give a tightened noose as a reason why it isn't possible these days.

It is left for us to decode a sector that could be as big as the banking sector to be able to make such cool age achievement. The power sector seems like it, but abeg who get that kind capital?

Kudos to them!

I have known the guy as a big risk taker, but was surprised when he told he had resigned to float his own firm last year. Leaving guaranteed decent monthly income for unsure route.

Atedo Peterside also floated IBTC at 32 years in 1989 when he came back from London.

A 32 year old banker is merely entry level today.


That said, I think IT is the industry you can achieve such feat today.

Zuckerberg and co started Facebook at 20

Our own Seun also founded Nairaland at 23 or therabout. Seun should also be worth decent millions today, and NL alone cannot be valued less than N100m.

pro01: I dey tell you. These guys make average fellows look like utter failures. The likes of Tony Elumelu and Jim Ovia also became bank CEOs in their thirties. Crazy. In my opinion though, it would be more difficult to achieve such feats in present-day Nigeria. The 1980s and early 1990s was the golden age of short-cuts, when all kinds of characters achieved massive success out of nowhere. . .from the banking industry to oil & gas and whatnot. These days, people eye don too open and awareness don plenty.

I have a classmate (30) that resigned his job as Head of Fixed Income Security of an investment institution to open his own investment banking outfit last year at 29.

I'm still watching how far he can go......

pro01: I dey tell you. These guys make average fellows look like utter failures. The likes of Tony Elumelu and Jim Ovia also became bank CEOs in their thirties. Crazy. In my opinion though, it would be more difficult to achieve such feats in present-day Nigeria. The 1980s and early 1990s was the golden age of short-cuts, when all kinds of characters achieved massive success out of nowhere. . .from the banking industry to oil & gas and whatnot. These days, people eye don too open and awareness don plenty.

At 31, some folks are seeing me 'star' giving the little one has done.

But I look again and ask, in 4 years time, I'll be 35, if my career line was banking, could I have thought of becoming a bank CEO?

I have an elder bro that I also look up to as super career star, and he is a DGM at 34. Measured against these guys, that seems to pale into insignificance.

Even Fola Adeola and Tayo Aderinokun founded GTB at 34 and 33 respectively.

follow your passion.

But I think Nigerian 'entrepreneurship' people overrate it. I made it clear in my article: http://jarushub.com/2013/06/07/excuse-me-mr-self-employment-advocate/

No

One of the best phases of my life. It was actually the period of transition to adulthood.

First time living up north.

I enjoyed every bit of it.

Leaving at 46 after 11.5 years as MD

Bank MD/founder at 34?

Sometimes you wonder how these guys did it?

No be the same work I dey do.

At 35, many people still banking officer

The 'Jonathan' crew, you hear?

salamudeen: Morning Nairalander's. My name is Abdulsalam my friends call me Salamudeen while most of my class mate that knows me better call me CODED just because if its anything about computer troubleshooting u can count on me...


The reason y am posting this is I just woke up this Morning before my morning prayers I started thinking of different suicide acts coming to mind I couldn't even go to the mosque I have to pray @ home as I can't talk to anybody.


All this is caused by too much thinking since 2010 after my secondary school wen I couldn't secure admission into the university infact even d dullest guy in ma class is now in 300level doing his IT in my home town I keep on weeping seeing him in a distance from afar... Am among the best in ma class without any flaws in my WAEC.


The first jamb I wrote was @ 2010 which I scored 198. I choosed engineering course @ FUTMiNNA but as for then the Cutoff for engineering was 220 I couldn't gain admission and my parent refused me to go for rems or poly. So I hv to stay @ home for a complete year with the only thing that kept me busy was the 2010 general election which I partake the whole exercise from voters registration to the final election that was what kept me busy as @ that time..


The second jamb I wrote was @ 2011 which I scored 218. I still applied for the same thing but all to know avail and I was even refused for any ijmb or rems not even poly I just kept quiet ...

The third jamb I wrote was @ 2012 which I scored 220 unfortunately I did nt choose FUTMINNA this time I choose IBBU LAPAI. I refused to enter for the online screening which I was told its not necessary by my bros in the school as @ then but which later turn out to be the reason I was unable to get admission in 2012. All effort was proof abortive by the VC.. I then asked my parent to allow me go for IJMB or Poly cus we don't knw hw next year would be they refused telling me to keep calm that all those are waste of time that I should just write jamb once and for all I kept quiet through out 2012 I started thinking backwards doing bad things like chasing girls,many bad things you know I can't even countrl my self not until 2013.


When I wrote the 2013 jamb all my hope was on 200 plus cus I was so prepared not until jamb released only one of my subjects when I first checked my result and I saw 42 as aggregate score I fell to the ground and was rushed to the nearest clinic. Few weeks later I tried checking it again I saw 173 as aggregate which I can do nothing with it @ any uni in Nigeria.
Just last Month the general cutoff mark of the university was released,
After my dad seeing this he woke me up early in the morning and told me " hope hv seen the general cutoff is 180 since u r not upto that I think you would hv to go for poly" I was about weeping out tears and looking @ him but I just hv to clam my self down ,


my reply to him was
OK if dats is the case .
Now the reason why I came 2day seeking for advice on what to do is that I hv started thinking of the whole thing about suicide I don't mind dieing 2day cus the whole thing is too much like thinking from morning to night if you see me 2day u would regard me as an HIV patient or a very sick person cus I don't even like eating anymore dats y am tiny like broom 2day but am strong and ok.



MY OWN NOW IS

I NEED ADVICES B4 it turn out to be suicide note cus Wallahi am serious

My contacts just incase
08152686868
08162908442
Fsalam7@gmail.com

Thanks Nairaland for keeping me busy always

Wa alaikum salam.

Ordinary admission is what you are contemplating suicide for? You must be kidding.

I think we are getting our priority wrong. Do you want to gain admission just because your friends have? Or because it is a means to an end?

And you have only spent 3 years at home! I know people that gained admission 7 years after finishing secondary school.

And who told you you must go to university before you are successful? Who told you your friends will be more successful and better off than you because they gained admission earlier? And what is wrong in your friends being ahead of you? Different heads, different routes. In my part of the world (Yorubaland), we say 'a kin wo ago alago sare', literally, you don't plan based on another person's time.

I candidly think this is too flimsy to nurse suicide thought about. 3 yrears after secondary school.

And you are a Muslim, and you know know less emphasis is placed on worldly attainments (at the expense of more permanent Hereafter) in our religion?

I have an elder brother, who after first degree and an MBA, struggled to get job and only managing a 30k per month job. He is close to mid-30's and should have married if not for finance. Yet, here I am, his younger brother, well off by Allah's grace, and married with kid. Do you want him to kill himself because of that. He is even far more religious, righteous and hardworking than I am.

But I understand, you are a small boy. Your thoughts are driven by something else. What, for instance, do you want a mother that lose 3 children in a car crash to do? These are far greater calamities and tests than mere admission.

I will give you a call.

maclatunji: Hmmmm... I will maintain only Nairaland communication with him. Besides, he is/should be fine.

Don't you think a private communication, in addition to open NL talk here, will go a long way? I think so.

DATE: SATURDAY, JULY 27, 2013
VENUE: JARUS' PLACE, AJAH, LAGOS (full address to be communicated later)
TIME: 4:30pm - 8pm

ATTENDEES

1, Jarus
2, Pelummy

Please indicate your interest in attending and I will update the list.

Open dates are still available for other sponsors/part sponsors, but only one can hold per weekend (i.e either Saturday or Sunday)

obadiah777: I WILL BUY A CAR FOR MY KIDS WHEN THEY GET TO 40 YEARS OF AGE. TILL THEN ? I AINT BUYING THEM NO INSTRUMENT OF DEATH. I RECKON BY THE TIME THEY GET TO 40 I WOULD BE TIRED OF LOOKING AT THEM SO THEY CAN HAVE A CAR. IF THEY KILL THEMSELF IN ACCIDENT AFTER 40 NA DEM WAHALA BE DAT

If at 40 your son has not bought a car by himself, then it will take another Rolling-dollar comeback to ....

chaircover: Okayyyyyyyyyyy

I have one turning 17 in a bit. We have applied for a provisional license and he is getting a block of driving lessons as his birthday present.
When he passes his test, we are going to get him a banger. It will def make my life much easier. He can now run errands for me and I cease being the "glorified" taxi driver. He can now drive himself to the shops or wherever he wants to go

[s]it also means that he now has no reason to touch my car. [/s]

Aunty CC, I hail o