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MrMcJay's Posts

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Celebrities › Re: Court Bars Tonto Dikeh From Featuring Son, Andre On "King Tonto" Reality Show by MrMcJay(m): 10:37pm On Feb 01, 2018
Let her feature her own family members let's see how she was before Churchill upgraded her.
Phones › Re: MTN Headquarters Office In Lagos, Nigeria (Photos) by MrMcJay(m):
bigtt76:
You think the Chairmen would use their real name? All na fronting. Zenith Pensions is a tenant in Civic Center Towers Lekki. You mean Oga will just give them space for free? Or you think all their branches on Ajose were bought by Zenith Bank?

Till date ECOBank is unable to annex all branches of former Oceanic Bank because they belong to Madam grin Naija banking sector stinks and that's why most of them can't co-locate with other businesses to save them the cost of opening new branches
Okay.
I think you need to understand something.

In Law, there's something called legal personality. Zenith Bank, Zenith Insurance, Zenith Pensions, Zenith Capital, Civic Properties Ltd are all separate legal entities with legal personalities distinct from each other. Each one has the ability to own assets, liabilities, declare losses and profits independent of each other. In the eyes of the law, they're separate legal personalities different from each other.

Hence, the properties owned by Zenith Insurance would reflect in its asset base and not that of Zenith Bank or Zenith Capital.

What could have happened is that Jim Ovia (as an independent legal entity) took a loan from Zenith Bank to finance he building of Civic Towers. Upon completion, he took in Zenith Bank, Zenith Capital, Zenith Pensions, Deloitte, etc as tenants all paying rent to him while he finances his loan obligations to Zenith Bank. The loan to Jim is an asset to Zenith Bank, Civic Towers is an asset to Jim, while the loan is his liability to the bank.

The Civic Towers you're talking about is an asset which would not reflect in the asset base of Zenith Bank even if they both are owned by the same person.

As for Ecobank, they got incompetent lawyers and auditors who did a shoddy job before buying Oceanic. I strongly suspect they were aware but were either paid or threatened by the powers that be to keep shut. If the information they got leaked out, the deal would collapse and no subsequent investor would touch Ecobank with a long stick.

I don't know if I explained it enough.
Travel › Re: LASTMA Announces Traffic Diversion Ahead Of Lagos City Marathon by MrMcJay(m): 7:21pm On Feb 01, 2018
Keneking:
The traffic would affect Monday's work shocked
Ambode sef grin
Which work you dey do?
You that Nairaland is your office.
Travel › Re: LASTMA Announces Traffic Diversion Ahead Of Lagos City Marathon by MrMcJay(m): 7:20pm On Feb 01, 2018
BarryX:
Another of those wild goose chase that will further increase the traffic stress level of a Lagosian.

Who Marathon help?
You talk down your own thing because you want to look sensible but you end up disgracing yourself before outsiders. We have marathons in London, Paris, Rome, Lisbon, Berlin, Athens, Tuscany, etc and you're here making noise.

Which stress level is increasing? Since all these days there wasn't traffic diversion, how much have you made?

If you don't want stress, travel to your village and come back after the marathon.
Politics › Re: Fulani Herdsmen Planning To Attack Taraba State - Reps Raise Alarm by MrMcJay(m): 7:03pm On Feb 01, 2018
Very soon, the tables would turn. We'll all see if one tribe can subdue all others.
Phones › Re: MTN Headquarters Office In Lagos, Nigeria (Photos) by MrMcJay(m): 6:55pm On Feb 01, 2018
bigtt76:
They don't buy but rather go into long lease with the owners usually the bank chairmen or owners (eg former Oceanic Bank, Zenith Bank, UBA etc all do it). undecided
Are you sure about this?

I actually have been involved in several real estate transactions involving several banks and I've never seen transfer documents bearing the names of the Chairmen or owners.

Also, if you know lawyers involved in legal audit of banks every year, they'll tell you that what you posted is an exception rather than the norm.
Christianity Etc › Re: Apostle Johnson Suleman And His Police Escort Arrive Church Event In Style by MrMcJay(m): 6:45pm On Feb 01, 2018
Uyiii:
what burst my kidney was when he compared his police escorts with the disciples of Jesus.
In reference to apostle suleiman, names of Jesus disciples will be like;
sergeant Peter, asp Andrew, dpo Paul and Silascheesy
As in ehn, some people can defend hypocrisy for Africa.

P.s: haha, my guy still join tear ebuka kinda agbadagrin
Judas dey Federal SARS.
Phones › Re: MTN Headquarters Office In Lagos, Nigeria (Photos) by MrMcJay(m): 6:18pm On Feb 01, 2018
bigtt76:
Most Nigerian bank buildings are owned by the bank owners and rented out to the bank they own undecided
You think the assets reflecting in the Bank books are printers, calculators and cello tapes? Your assertion holds true for tier 3 banks and glorified Microfinance banks like Jaiz Bank.

Major Banks buy real estate to increase their asset base.
Crime › Re: 7 Fulani Men Burnt In Gboko, Benue State (Graphic Photos) by MrMcJay(m): 6:15pm On Feb 01, 2018
delzbaba:
when world countries takes sides,where do u think Saudi jets will target?Abuja or Lagos
Do you know how many fulani sponsors own houses in Ikoyi and Victoria Island?

Keep deluding yourself and waiting for others to provide solutions to your problems. FYI, after Benue is SE and I expect ALL eastern Governors to be proactive.

The madness must stop.
Crime › Re: 7 Fulani Men Burnt In Gboko, Benue State (Graphic Photos) by MrMcJay(m): 2:44pm On Feb 01, 2018
delzbaba:
I smell war,and don't think Lagos can't be touched oh,we are all in this together.
Wetin concern Lagos for this matter?
Crime › Re: 7 Fulani Men Burnt In Gboko, Benue State (Graphic Photos) by MrMcJay(m): 2:44pm On Feb 01, 2018
delzbaba:
I smell war,and don't think Lagos can't be touched oh,we are all in this together.
Celebrities › Re: Shade Ladipo Slams Paddy Adenuga Over Chevron Story by MrMcJay(m): 2:42pm On Feb 01, 2018
I have read Paddy's post as well as a lot of myopic rejoinders and ignorant comments. My own is just to pick my lessons and use it for my personal improvement.

Let those who refuse to learn anything keep wallowing in ignorance and setting up excuses for their poverty. 10 years from now, they'll be biting their bony fingers in regret.
TV/Movies › Re: BBNaija: The Show Is Satanic, Stop Watching Else God Will Send Down Fire" - Lady by MrMcJay(m): 2:11pm On Feb 01, 2018
Some kinds of Christians today, na wa. This lady isn't worshiping God, she's worshipping an assassin.
Business › Re: Chronicles Of Catalan : Five Lessons I Learnt From Paddy Adenuga's Memoir by MrMcJay(m):
majekdom2:
We will keep seeing different posts from different people claiming they have learnt one or two thing.... simply because it's Adenuga. The typical ass licking character with most Nigerians. What paddy has done is what every other "business man" does everyday. Trying to get deals done.
Whilst I salute his effort, boldness, courage and entrepreneur spirit, I do not find his story motivating. Yes, it's not bad belle. Catalan was just another trading business that may have happened. Typical buying and selling with no tangible technology creation or transfer itself. I mean Paddy is not building a product from scratch, going to test it market, trying to acquire customers and then not making money as one would have projected. Stories like facebook, Google, Amazon, Dropbox, pay stack, microsoft, apple and name it. These are businesses that were built from nothing. Adenuga wanted to purchase an asset. With some connection, you can secure loan from the bank and buy an oil assest. It's something we hear everyday. It would have been a more interesting story if he did something outside his father's business. I mean build a product from scratch. This is my own definition of entrepreneurship!
As you stand today, if I'm to invest a million dollars into you, do you have a viable business enterprise to absorb such investment or you'll keep manufacturing excuses as you did above?

Mike has laid a solid foundation for Paddy to build on. Whether you like it or not, he won't operate business at your level, he's passed your pedestal. He's filling the gap between demand and supply and not trying to create a market in itself. Those points you created are for a different business model.

Because you have built a thatched hut, you refuse to learn from someone who tried to build a. duplex and suffered temporary setback.

If you can't build a skyscraper, build the solid foundation that your children would build skyscrapers on.
Business › Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 1:58pm On Jan 31, 2018
LaudateII:
The entrepreneur who set up Emerging Markets Telecommunications Services (EMTS), is Hakeem Bello-Osagie. That is another man whose biography, I
would like to read.
Belo Osagie was a co-founder of Udo Udoma and Belo-Osagie, a top commercial law firm in Nigeria. Also, this firm owns Alsec Nominees. That's excluding UBA and EMTS.

That man knows how to start up big stuff. However, it would be better if he starts up businesses and gives it to others to manage while he leans back to watch it grow.

Lemme give me you a secret though, Etisalat was a huge paycheck for him if you understand how that deal went.
Business › Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 1:49pm On Jan 31, 2018
IamaNigerianGuy:
I am all for entrepreneurship but you must come down and face reality.

1. The recession and mangled economic system we operate means that people have no money to buy N50 milk much less go looking for investments. You invest when your basic needs are met. Are you aware that workers are owed salaries and pensions ?

2. EMTS founder (Bello-Osagie) was already a billionaire when he started his company. He used his university contacts to penetrate the arab royal families for investment in his venture, and his relationship with IBB to secure his telecom licence.

Point is, there is no level playing ground. These people are exploiting their unfair advantage gained in the past. Nobody needs to encourage a Nigerian to do business. It is in our genes. Level the playing field and watch them fly.
No one is gonna give you a level playing ground. Even in Heaven, there are Angels and then there are Archangels.

As you stand today, if I'm to invest a million dollars into you, do you have a viable business enterprise to absorb such investment or you'll keep manufacturing excuses as you did above?

If you can't be a skyscraper, be the solid foundation that your children would build skyscrapers on.
Business › Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 12:22pm On Jan 31, 2018
hostkobo:
you are right on point MrMcJay.

Some Nigerians surprise me with their comments. So because Mr.P's pop is a billionaire, he shouldn't hustle on his own? Or because he didn't succeed at his bid, he isn't successful.

yes he has the money to throw around and engage in risky deals, but life is all about risk. It is those that have taken on head to head the riskiest risks and have won that stand tallest at the end of the day.

We can learn from the rich, we can learn from the poor.

Jealousy is worrying so many people in this country

regards
HK
My brother, most people are suffering from the worst form of poverty - intellectual poverty. You know the thing about intellectual poverty? It makes one unable to pay attention.
Without paying attention, you can't identify opportunities.
Wuthout identifying opportunities, you can't make progress.
Education › Re: The Rot In Nigerian Universities(photos) by MrMcJay(m): 12:01pm On Jan 31, 2018
Iamvictor:
I rep OAU and I know we students have a part in this rots.
The rooms were designed for 2 students, management allocates 6 students to each room room and squatters swell the number to infinity.

When I was in Awo, there was a time we were 22in the room. I'm referring to a room originally designed for 2 students.
Business › Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 11:41am On Jan 31, 2018
oluwamitomisin:
Sir, kindly point out 3 to 5 points of lessons from the epistle. It'll do us all some good.

The only lesson I've learnt is "nearly doesn't win the acquisition". I imagined what the winner of the acquisition would have written.
Let me indulge you a bit.

Believe in your instincts
When someone has a price,buy him so far as you know you can get something out from him.
Do away with pride, help is always closer than you think.

Go and read the article again to pick more lessons for yourself.
Business › Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 11:35am On Jan 31, 2018
einsteine:
What lessons exactly? How about you point out the lessons? The reality of the average Nigerian is different from the reality of Adenuga. The whole story does not provide any actionable insight for the average small business owner out there. It's just a tale of the son of a rich man who is bold enough to gamble. Even if he loses, he still got a fall back. I repeat, there is nothing to learn from the story.
I don't have to break down everything for you. This economic recession that a lot of Nigerians are experiencing throws up a lot of opportunities.

For instance, since the price of imported rice has risen, a smart investor would go and invest in the local rice chain. Seek out local rice producers and get the price per bag. Contact nearby restaurants and bulk buyers and promise to supply them at wholesale price with the option of payment on delivery. Even if you advertise local rice on NL, you are sure of plenty customers.

Instead of benefitting from the opportuinty above, they prefer to drink N10 garri and use it to insult Buhari on NL.

Let me tell you a true story.

Sometime ago during the telecoms boom in Nigeria, an very smart Nigerian who I respect so much formed a company called Emerging Markets Telecommunications Services (EMTS). He put the basic corporate structures on ground and ran it as a startup.

Subsequently, he approached some Arab investors to invest in his company. These Arab investors were impressed in his company that they decided to buy a part of it. Today, that company was Etisalat Nigeria and he owned 40% of Etisalat Nigeria.

If you think you are too young, go and read up the story of the guy behind Sujimoto Construction.

Don't make the mistakes your fathers made. Seek out opportunities and take advantage of them.
Business › Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 11:23am On Jan 31, 2018
Just look at the comments on this thread and you'll realise that more Nigerians suffer from intellectual poverty than financial poverty.

The lessons to be learnt from that article are more than what some Nigerians learnt in their entire time spent in school and they don't have the wisdom to read and pick a lesson or two.

10 Years from now, Paddy would be a billionaire under 40, some people who picked lessons from this article might have surpassed Paddy in wealth but our dumb friends would still be shouting "I receive" in Church not knowing that their Pastors are also reading and picking lessons from this post.
Properties › Re: Need A Very Cheap Land At Lekki by MrMcJay(m): 2:59am On Jan 31, 2018
tolex29:
I need an affordable land at Lekki for a family member. My budget is N700,000 max for a plot and I am willing to spread payment over 6 months.

You can Whatsapp me on 08037003349 (please 419ers should steer clear)
By mentioning Lekki with 700k in the same sentence, I reckon you're referring to Ibeju-Lekki.

With 700K, you can't get an hassle-free land with valid legal documentation in Ibeju-Lekki. Except you intend buying inside the bush, hoping that you don't lose the land before you decide to build.
Politics › Re: Okorocha Inaugurates Paramilitary Outfit To Combat Drugs In Imo State(photos) by MrMcJay(m): 11:04am On Jan 29, 2018
zinachidi:
rochas said it's better to be a thief than to smoke weed. WTF is wrong with that man?
You can't be serious.

Politics › Re: "Buhari's Government Has Failed" - Tunde Bakare Says, Denies Joining Third Force by MrMcJay(m): 10:17am On Jan 29, 2018
For Bakare to pass such death sentence on the government of PMB, it's a damming but correct assessment of Buhari's incompetence.
Politics › Re: FG Dumps Cattle Colonies, Asks States To Tackle Herdsmen Themselves- Daily Trust by MrMcJay(m): 8:11am On Jan 29, 2018
At least, the security votes of the Governors would be put to proper use.
Christianity Etc › Re: Woman Sows Seed With Her Husband's Car In Delta Church (Photos) by MrMcJay(m): 4:20pm On Jan 28, 2018
Reminds me of Pastor Lawrence Agada the Sheraton staff who stole a huge sum of money and used it to sow seed in Christ's Embassy HQ. The unfortunate part was that Chris Oyakhilome actually wrote the thief a letter of commendation personally signed by him.
Christianity Etc › Re: First Fruit Time Is Here! by MrMcJay(m): 9:47am On Jan 28, 2018
Sowing and reaping is a natural law, not a spiritual law. Even if an atheist or animist gives, he also receives.

Tithers try to bribe God by giving to receive, not freely but expecting something in return. Those who give to charity give freely, not expecting anything in return. That's why those who pay tithes are usually poorer than those who give to charity

The poverty in Nigeria is to the benefit of the churches in Nigeria.This is why you find the highest number of churches in the poorest areas. Instead of dashing pastor your money, give it to certain persons who are in need. They'll value it more and their hearts would pray for u.
Politics › Re: Rumble In APC As Zonal Chairmen Move Against Oyegun by MrMcJay(m): 1:06pm On Jan 27, 2018
The enemy of the APC is the APC itself.
Pets › Re: I Think My Dog Is Not Dead, The Veterinary Doctor Lied. by MrMcJay(m): 6:02pm On Jan 26, 2018
Sorry for your loss.
Tell that Vet to produce a picture of the dead dog ASAP.
Career › Re: Anambra Lawyer Slumps, Dies In Court Room During Trial by MrMcJay(m): 9:57pm On Jan 25, 2018
SirBunky85:
dat still doesn't answer my question
I have a natural aversion to answering foolish questions.
Career › Re: Anambra Lawyer Slumps, Dies In Court Room During Trial by MrMcJay(m): 9:36pm On Jan 25, 2018
SirBunky85:
who asked u?property lawyer KO,charge&bail lawyer ni
You know, not all of us share your inherited DNA of generational mediocrity.
Politics › Re: Miyetti Allah Endorses Buhari, Mohammed Abubakar For Second Term by MrMcJay(m):
Buhari is not fit to lead cows not to talk of humans. His cows have refused to increase from 150 cows in 2003 to 2015. He's the worst herdsman I've ever seen.

It's utter mischief for Miyetti Allah to send the worst herdsman of them all to lead Nigeria.

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