₦airaland Forum

Kukutente23:
But you spoonfed me that KIA started investing in 1986. Why did you now suddenly become stingy?
Spoonfeed me about WNDC investments too na.

You keep claiming that WNDC invested in "major companies" but name the companies for us to learn you suddenly become stingy. This is not fair o

If you're talking in terms of Devcos which is what WNDC was, NNDC which is its northern equivalent its much older than WNDC. It was started in 1949. So maybe you're right that a form of SWF first started in Nigeria but it is the north that owns that ace through nndc and not the west.

Lol. You mean average Nigerian pensioner is a shareholder in MTN now. Dude stop this joke abeg
So why are they always finding it difficult too access the funds even when they need it to survive if they are MTN shareholders? Some have not even seen their gratuities to collect till today yet you're here preaching false gospel.

Anyways, the fact remains that Nigeria is neither the first or only country to have a contributory pension scheme that invests. A whole host of other countries do so as well. Whether they have private fund managers or not is largely irrelevant

You are now going back to agree with me that there is no point in separating an investment company owned by a government from a swf. However let us just keep it at investment company owned by a government. The first investment company owned by a government is the WNDC. It is not just a devco designed to churn out policies or maybe loan out money. It actually got dirty seeking profit in the economy. Actually a swf can just be saved money. You can't compare it to an investment company like WNDC that had sixty companies as at 1976.
How can the NNDC have a company in 1949 when they were not independent? The west became independent in 1957. Even Kuwait became independent in 1961. Are we now saying the British created something for them that they themselves did not have?
The said NNDC might have been a devco. The WNDC was not a mere devco. It was an investment company. An aggressive one.

The pension funds can own equity in any company and if your money is with them you are part owner of whatever they own. Nigerian pension funds are like swfs but they are mandated to grow at a minimum rate is the difference and the other difference I highlighted.
In the US you pay into social security but the money is not invested in the same way it is invested in Nigeria but it is still your money up until you are no more alive. It is not a real asset because a real asset should belong to your estate even after you die

Kukutente23:
Still you're not able to name one company WNDC invested in nor the year they invested.

Claiming that KIA had no investment from 1953-1986, over 33 years is preposterous.

And for your info, WNDC was funded from cocoa proceeds cause you keep claiming they started from nothing

Just read up on SWF history and you'll be better informed of its evolution

As I've already told you, pension funds administration is not novel. In fact, Nigeria is not among the top ten funds administration country. Some countries have pension funds running into trillions of dollars and they are invested in various securities yielding lifetime guarantees for the contributors

I'm not bothered that Nigeria is first in these things. I'm just debunking your false claims about SWF and PFAs. The western govt did not have a SWF because it was not a sovereign state to start with

Go to Oodua group of companies page yourself and extract information to prove that WNDC had no investment prior to 1986. I will not spoonfeed you. The internet is there for all to use
You are just going round in circles. KIA might be called a swf that was inaugurated in 1953 if they were saving money starting from then and that is what publicly available record says but in the business of investing even the Norwegian trust fund is their senior. The most senior is the WNDC. I have already conceded to you that WNDC was not a sovereign fund but I was not wrong to classify it with sovereign funds because it was owned by a government. Again it is the first investment company on Earth to be owned by a government. I have changed English for you. Are you satisfied?. KIA had no investment until 1986. Do you agree that WNDC is the first investment company on Earth to be owned by a government?.

Then SW had cocoa, didn't SE have palm oil or didn't North have groundnut?. Didn't Ghana have cocoa? Cocoa, palm oil, groundnut etc were owned by farmers not the government and all regional governments in Nigeria had marketing boards for them. Therefore the North and the East could have done what the west did but they did not. Therefore the people that did it should be commended and they are Nigerians. My grandfather was among them as he was the organizing secretary of the AG. I am proud of him and others. Many countries produce cocoa but none did it.
The AG started the WNDC from nothing. Just vision

Peculiarities of the Nigerian pension fund

1. The fund administration is not managed by regular banks or insurance companies. It is managed by licensed administrators who are mandated to grow at a rate not lower than 5 percent per annum.
2. What you have in the fund is part of your estate. It is not just a life time asset. The fund makes you a player in the economy as an investor. For example some of them own MTN equity.

There are other peculiarities too and I have read an American author commend the system asking that it should be copied worldwide as an option for corporate funding.


https://www.hbs.edu/faculty/Pages/item.aspx?num=54159

What the Oodua group should be and why I hammer on it

When the forebears of the Oodua group were conceptualized, the idea would have been that the worth of the company should be many times the worth of the richest man in any country. After all, what is one man’s property compared to the property of millions of people?. China has shown that this is possible. In 2024, China made over 360 billion dollars from state owned enterprises. Only an investment worth close to twenty trillion dollars can yield that.

My late granddad the late Chief J O Lawanson was the organizing secretary of the Action Group from the beginning to the end and the AG ruled western Nigeria that established the forebear of the Oodua group. He handled party finances and there were no party meetings without him. He was the most senior AG party member that never contested elections. He operated as a Kingmaker. It is out of tending to his legacy as one of the brains behind the success of the AG in western Nigeria that I always talk about the Oodua group and other state owned investment companies across the world as his descendant

If we accept that a government must be sovereign to have a swf then we can say the WNDC was an investment company and not a swf and the WNDC is the first investment company on Earth to be owned by a government. All swfs are also investment companies or end up as one

Kukutente23:
You could name the first investment of KIA and the year according to you but you can't name that of WNDC. You only claimed "major companies" as their investments in 1959 Major companies na name of a company?

A LG cannot have investments outside Nigeria without the authorization of the Ministry of Finance. I already gave you the difference between SWF and those of sub-nationals in a Federation. Again, you did not say you were looking for equivalences when you wrote your OP. You said it like it was a fact that WNDC was a SWF. Now you are shifting post while arguing aimlessly.

And SWF is not a loans dispensing institution. It is an investment vehicle. I want to believe you know the difference between loans and investments. If not then World Bank will be the first SWF since it has been giving developmental loans since 1944!

The concept of SWF is older than KIA but it is the first officially recognized SWF. I'm sure you saw that fact boldly written on the link you provided.

There are pension funds all over the world that make investments and yield interests/dividends. Nothing is novel about the Nigerian case. Go and get properly educated on it

I don't need to name investments of WNDC. As at 1976 when they became Oodua group. They had over sixty companies apart from equity in companies on the stock exchange and etc. They even had a football club IICC.
The world bank is a bank and not a swf. A bank granting developmental loans with depositors funds is not a swf. The WNDC founded companies, had equity in big companies and etc. It is the true definition of a SWF. It started off however as a loans board in 1955 before it upgraded. Western Nigeria loans board 1955 then Western state Industrial investment and credit corporation in maybe 1957 that is obviously a hedge fund by its name, the first on Earth and then WNDC in 1959

As stated earlier KIA might be saving money starting from 1953 but they had no investments. Saving money is not the same thing as a swf or hedge fund. A Swf is a hedge fund owned by a government .The first investment of KIA was in 1986. That is younger than the Norwegian fund. WSICC later known as the WNDC is the first.

The first state owned company on Earth to go all out into the economy to amass wealth is the WSICC later WNDC and they did it without having excess revenue from oil and etc

The Nigerian pension fund administrators are statutorily mandated to grow at a minimum rate. Nothing like that in other places. It is not the same thing as just paying into a pension fund for you to be paid later. It is not the same thing as social security payments. The money in Nigeria's pension fund is also your own under your name unlike other places when you only get money if you are alive.
It is not the same thing.
The money in Nigerian pension funds is part of your estate. I hope you are clear now.

There was no concept of government holding investment and controlling profit yielding ventures for the masses before the industrial era. You are wrong that the concept of swf has always existed.


Again, any government that has an investment company has something that can be ranked with a swf. A swf is just an investment company owned by a government

Why does it bother you that Nigeria is first in these things?

If swf as a term is your problem then the first investment company on Earth owned by a government is the WNDC. I guess that is better

Kukutente23:
How is the information wrong? You're going to be arguing with them over their own investment now? Oya what year was WNDC's first investment?
SWF are used to invest money from natural resources of which oil is among
Even on principle WNDC cannot qualify as a SWF
A sovereign fund is usually backed by law to operate as a private equity enterprise both within and outside the country, while retaining the state's name and having the state as its owner. That's why it's called sovereign wealth. You can show me examples of sovereign wealth that are not owned by sovereign states.
You're yet to show evidence to your wild claim that Nigeria is the only country with pension funds. I've already told you that the first country to have a pension fund is Germany. To even claim that there was no pension fund all over the world until 2024 and no SWF until 2012 bothers on absurdity

The first investment of the WNDC was not after 1986. They had investments in more or less all major companies in Nigeria from the onset.
Germany even today does not have a contributory pension system where administrators are mandated to grow at a minimum rate and workers are mandated to be part of Only Nigeria has that
Again if a local government council has a fund with equity in several companies and etc, it will be counted as a swf because there is no other umbrella you want to put it under.

The first SWF or hedge fund on Earth is the Western Nigeria loans board which became the WSIICC Western state industrial investments and credit corporation which became the WNDC Western Nigeria Development Corporation which became the Oodua group. I don't know why it is a problem for you to accept that. KIA may have envisioned the concept first and maybe not but their first investment was 1986. That is a junior brother even to the Norwegian fund.


There are pension funds all over but the scheme in Nigeria is different. The funds are invested and the administrators are mandated under license to grow at a minimum rate. Hope you understand now

owobokiri:
Build houses for everyone.
Stop the fixation on taking care of certain strata of the society like the civil servants, traditional rulers and legislators.
Take care of everyone.

Build modern low income houses for all caders of people on the society. Stop the small mindedness. Stop focusing only on one segment of the people. The traders are human beings. The civil servants are human beings. The industrialists and factory owners are human beings too. Just build quality houses and let everyone find his/herlevel there.., you elitist Soludo.

If you want to help the civil servants because you know you pay them nothing, then provide very comfortable loans or grants to them based on merit, so they can access such funds and use them to buy quality apartments built as estates.

But this habit of dividing the society along different sections and choosing your favourites to "help", is a typical example of pettiness and lack of inventiveness in state administration

He has started from a good point and that is what matters. It is not two hundred housing units but ten thousand. It is a good starting point

Kukutente23:
First of all, the WNDC was not a sovereign wealth fund because western Nigeria was not a sovereign state as at then. More importantly, WNDC was created for infrastructural and economic development of western Nigeria. This is not a cardinal reason for creating SWFs. SWF are created as long term investment vehicles to yield financial returns.

That said, the Kuwait investment fund is the first recognised SWF created and it was created in 1953. WNDC was created in 1959 and it was not even an SWF.

Pension funds have existed since the 19th century. The first state backed pension fund was by Germany in 1876.

I told you to use your Google

The information is probably wrong. The site shows their first investment to be in 1986. What were they doing between 1953 and 1986?. Trust me the information is wrong. Then they stated that the fund was to save oil funds while WNDC was more intentionally founded. No oil money.
Then any fund owned by a government qualifies as a SWF even if it is a local government. It does not have to be a sovereign or national government. The principle is what matters.
You are talking of nineteenth century Germany?. Which country in the world today have pension funds which are invested into the economy? And which is compulsory for workers?
WNDC is the first sovereign wealth fund or even hedge fund on Earth while Nigeria is the only country with contributory pension scheme with funds managed by licensed administrators and with a mandate to grow at a minimum growth rate.

KIA made their first investment in 1986

https://en.wikipedia.org/wiki/Kuwait_Investment_Authority

The western Nigerian government did not need to have oil before knowing SWF is the right way to go

This should cost over one hundred billion naira

Anguldi:
They'll ask for more money continuously 🤷🏿

Imagine riff raffs with rifles holding a state to ransom

Kukutente23:
Before you write articles making bold claims, learn to make use of Google to find out simple facts of history.
Making bold claims that are rooted in falsehood in a bid to pose as a patriot or some glorified apostle of Nigerian supremacy is doing yourself a great disservice

Both SWF and Pension funds have existed before Nigeria started it. Pension funds is noted to have started in 1875 while SWF at least as known in its modern shape started in 2005 according to history.

Nigeria's SWF was forced on us by circumstances when the ruinous and prodigal govs led by Amaechi and Aregbe of the APC confrat insisted on decimating and pillaging the ECA. The ECA as at then was over $35bn. After it's looting, it was replaced by SWF of just $1bn. That's what you're gloating about when I'm reality, we should be dragging Amaechi and his fellow APC journeymen out into the streets and stöning them as he himself recommended. Nigeria's SWF today is less than $5bn. The least of resource rich countries in same class as Nigeria.

Nigeria's pension fund was started in 2004 but as at today, the hawks have really done a job on it. Who can forget Maina. What about others who have mismanaged or attempted to mismanage it. How many Nigerians can easily access their pensions funds in today's Nigeria without sweating blood and in some instances, paying bribes. Nigeria's pension fund is also among the least well regulated and mismanaged in the world.

So I don't understand what you're trying to do but boy are you far off the mark!! Instead of engaging in infantile self- praise and fake adulation, we should engage in sober reflections as to why well thought out ideas always die in the ocean of corruption and bitter politics in Nigeria.

Which sovereign wealth fund or even hedge fund existed before the WNDC anywhere in the world?.
In which country has there ever been contributory pension made compulsory for workers? And with the administrators of the funds investing it to achieve a minimum growth rate?

The importance of Universal healthcare.

The most fervent wish of most human beings is to live long and data shows that the nations that have most achieved this for their populace are the ones that have universal healthcare.

Problems become easily solved when attacked with joined hands. Be it education or health.

People who abandon their country to migrate to well run countries with universal healthcare can't be blamed. We all have only one life now and it is wise to choose to live where you are guaranteed to live longest. A place with healthcare cover for all.

Why will a country not prioritize universal healthcare?. In most countries, a lot of resources are allocated to the police and military. These sectors are important but not more important than universal healthcare. It is a matter of prioritizing all important sectors.

I believe for most countries, the healthcare sector is more important than defense. In today’s world because of the cover by some countries, a country can exist without a military and some countries do.
Whatever it will cost you as a country, have universal healthcare. It is more important than many things.
I hereby use this medium to call on all countries to prioritize universal healthcare so that their citizens can live longer.

Sokoto have to have their own registered security outfit with assault rifles and other equipments. If you pay tax to militants you are doing something that is not sustainable.

Burob:
Interesting, very educative.

My pleasure. Thanks

It is when Nigeria breaks up that they will choose to cast their lot with their kinsmen. For now, Yoruba as a whole is trapped in Nigeria

CorrectionFLuid:
Wrong response.

The British gave the education same way they the SW too were given by the British.

First Nigerian VC of University of Ibadan was an Igbo man.

These people don't just do propaganda. They believe their lies too

First UI VC was an Igbo man because the NCNC was in power only. He had many Yorubas who were Professors before him. The same applied to Unilag too. The Yoruba were turned to spectators because they were in opposition despite having all the human resources

How civilization goes around in circles.

Why is it that Scandinavia which is probably the last living space on Earth to be colonized by human beings is arguably the best run piece of Earth today?. The answer is God or providence makes everything go round. God does things to confound us mortals.

There were cities in Africa and South America when all of Europe was under ice. Yet Europe later produced Greece, Rome and lastly Britain with Britain having the most impact because of the industrial revolution.

In the future, all nations will have sovereign wealth funds and pension funds administered by administrators that invests the funds into the economy and God made sure the innovation started not in Europe but in Nigeria. It is a kind of return to the beginning while what is happening in Scandinavia is a start from the end. There were certainly cities in Nigeria when Europe was under ice and the most ancient calendar on Earth is the Yoruba calendar of West Africa which will be the year 10070 in AD 2026. The first sovereign wealth fund/hedge fund on Earth is the Western Nigeria Development Corporation WNDC established in 1959 by the western region government of Nigeria but now rechristened the Oodua group. The journey however started in 1955 as the Loans board. It was established without the government having excess. The first pension fund is also in Nigeria established during President Obasanjo’s regime.

Sovereign wealth funds allows the state to participate in profit seeking while pension funds compels all workers to be investors which is key to building a classless society and the next task before the nations of the world is to build classless societies where wealth distribution will be more equitable

E

MaxInDHouse:
It's fear of the black society that makes females in Africa to practice polyandry on a low key it's happening around the world.
When women are rich they also feels like taking two or more men as partners!😟

Why polyandry isn't common in nature is simply because the paternity of the woman's kids will be ambiguous. In polygamy, the kid of any woman living with a man belongs to him

grandstar:
It has to be controlled or else, the cure might eventually become worse than the disease itself.

Fulani bandits arose to fight for Fulani herdsmen from Hausas due to clashes over the munching of their crops by their cattle.

Some are now rustling cattle from their fellow herdsmen.

The origins of SARS was noble but they eventually turned against the people they were to protect. They were worse than the armed robbers themselves

Good idea but it must be controlled.

The controlneeded is to make sure they have capable people in their management to guide them. If your job is security there is no need to stop you from bearing arms. If there are companies that bear arm there will be less need for police guards by VIPs

I believe all Northerners can read and write in Ajami

Any registered security outfit should be allowed to bear arms

gidgiddy:
It takes guts to rise up and fight for freedom, no matter the consequences. Its not every ethnic group that is made of that stuffing, and not everyone will appreciate that freedom is one of the few noble things in life worth fighting for.

Any group will fight when pushed to the wall. If the floor was not cleared for a Yoruba man to be President in 99 after Abiola's killing then there would have been war.

kunleham:
They speak Yoruba mainly, I doubt if any of them can speak fulfulde,

The Balogun Gambari family are made up of people descended from Hausa, Nupe, Bariba and etc. It is the Balogun Fulani that is made up of people descended from Fulani. However the descendants are Yoruba now. There are compounds in Northern cities of Kano, Funtua and etc where the founders are Yoruba but the descendants are now Hausa

Odus of ifa November 28 2025



Irete Osa

I will rather die trying

This was the ifa cast for Bashorun Gaha who wanted to control the Oyo empire despite losing the Oyomesi vote


Obara ika
There is nothing like seeing what you kicked off run like a clock independent of you

This was the ifa cast for Bill Gates who built Microsoft from scratch and later reduced his stake to the barest minimum and also left the management


Owonrin Iwori

If I earn big I will live big

This was the ifa cast for the citizen who believed salaries save people from poverty.
He was advised to sacrifice. He listened but did not comply.
Onlooking people of Po and Offa!
Your salary can not save you from poverty in the long run. Only well planned investments can do that


Owonrin Irete
Only a handful of people need be saved.

This is the ifa cast for the Jehovah witness organization who claim to want the save the world but in reality are seeking to drown the majority
Onlooking people of Po and Offa!
The JW will say ‘One person in a large family is enough, the other members can perish’.


Ogunda Obara

The internet is a leveller

This was the ifa cast for the teenager who discusses with elders as if with equals on the internet.



Ose Ogbe

You get ahead by helping others.

This was the IFA cast for the junior worker that volunteered to do free work when free and was later made the CEO
He was advised to sacrifice
He listened and complied
Not long after. Meet us where we celebrate victory like Ogun at the feet of Obarisa.


Obara Owonrin

What you don't know can not hurt you.

This was the ifa cast for the followers of the many traditional spiritualities that have no holy books that must be believed at all costs on the day they were coming from heaven to Earth.
They were advised to sacrifice
They listened and complied
Onlooking people of Po and Offa!
What you don't know can't hurt you



Oturupon Irete

Energy will become whatever you mould it to be

This was the Ifa cast for the scientist who designed nuclear energy to supply electricity.
It was cast for another scientist who designed it to make a bomb
They were advised to sacrifice
They listened and complied
Onlooking people of Po and Offa!
Energy will become whatever you want


Odi Ogunda
He that loves me should be my boss

This was the ifa cast for the Christians who gave their lives to Jesus Christ because he first laid down his life for them.


Otura Oturupon

Intelligence has more to do with the spirit than with the body.

This was the ifa cast for the observer who found out identical twins can have significantly different IQs despite their similarity in DNA.

How to make a country rich

The only way to make a country rich is by joining hands together. You have to contribute heavily into a common purse via taxation to solve the big problems that are general to the populace like education, healthcare and infrastructure and you have to support your entrepreneurs to create jobs. You have to also support innovation by spending on research and development.
If a country is under good leadership that takes a large part of the GDP to solve the above problems then the country will be rich in a short time.
An all man for himself country can hardly be rich because to solve the basic problems for the majority will not be possible.

Caaz:
Hope all is well with you sir?



You dey remind me of musiwa

I am ok. Thanks. Who is Musiwa?

Kemetian:
But we had that in the past!

It was called the Oyo Mesi.

A council of powerful chiefs and traditional priests that would be watching you like hawks if you are the Oba.

Any sign of nonsense or corruption from you, and then would send you an AROKO message (message of objects) featuring an order for you to commit suicide, or be sent to the great beyond by force!!

Of course this system if re-adopted, will be less harsh than olden times, as per the king, but it can still work..

Then again, the reason they ordered him to commit suicide was to prevent him from plotting against the new king.....

Yes the Oyomesi was the highest council of the Ogboni in Oyo. In Ijesa it is the Agba Ijesa. Every free man in Yoruba land belonged to the Ogboni. However it is not really true that the only way to remove or depose a King is to ask him to commit suicide. You will be asked to commit suicide only if you as a king committed a comeasurate crime. The elder brother of Sango was replaced with Sango but was later recalled after Sango's demise. I have forgotten his name. The same thing was common in Ijesa. If you see the Ijesa king list you will see some names occurring more than once. They were sacked and later recalled.

Happy Thanksgiving 2025

Today I am grateful for all the good people in my life that came to save me. Led by the US government. They came to save me from those that meant to eliminate me for daring to attempt to change Nigeria by writing.
I have so many new Dads and Mums as well as brothers and sisters now and I am grateful for them.

I am the luckiest man alive probably and I am grateful for that.