₦airaland Forum

Broveens42:
Even a poor looking area with bad roads can be made to look better and that's where south east cities edge it over other Cities in Nigeria, including your Lagos

Tomek09:
Show us Makoko, Ajegunle, Idumota and Ikorodu slums. Spits

Jefferyhi86:
Why not take ur ass down to mainland, like abule, OJOTA n d rest, coming here to upload filter background of island

KaluwisxPRO:
Oga travel out of your slum and see other places before you begin hype this slum. All the photos uploaded are from the highland only.


Lagos is a big slum with no single social amenities that can serve half the city. The greed of Lagos state is exactly what is killing it slowly.

Lagos is the headquarters of suffering and smiling in the whole world

HRMK:
we also know lagos is full of slums!show them to us too!!

debossng:
Where in Lagos is this? Or I'm I living in another Lagos? Please tell me oooo!

Bikeosis:
Oga pls show us Agengule, Okokomako, Alaba, Orile iganmu,Oke afo, sari Iganmu etc....don't concentrate on the island alone....those leaving in these part I mentioned are also lagosians and they pay tax..

eteebanky1:
You're not serious swears, go and check the slum in lag

Dee60:
Where are the Okadas? Any picture of Lagos without them is fake!

Broveens42:
Lagos is a city with very large slum areas.
So what's your point?

CoronaVirusPro:



Mods should please move to jokes section.

Op, You did not show the touts littering the self acclaimed mega city

AmazingELixir:



See how this one carry colour saturate pictures...na thesame Lagos I dey abi another one...

colestephan86:
Where is the picture of makoko, abule egba, mushin, idumota, agege,

izenco2005:
Ope come my area for mazamza make we check something

seyz91:
Op, you no well oo

Na filter or camera quality you dey show us up and down
.no be lagos where dem born me again?

Never ever compare lagos to Dubai..even in 100years, lagos can never half close what dubai is now

thebosstrevor1:
Which lagos is this?

You can't continue to deceive us with your photoshopped pictures

armyofone:
Is the pictures a particular place in Lagos? If so, where ?
Be specific and add names to each of the pictures so one knows where exactly to go.

Help2020:
This Lagos your showed Is beautiful. At least the roads are good. The real Lagos has no good roads

donprinyo:
Graduate of Lai University

jaxxy:
Big fat lie! Stop this misinformation.

debossng:
Where in Lagos is this? Or I'm I living in another Lagos? Please tell me oooo!

oyepaulkay:
LMAO, OP is delusional. And that's all of Lagos right? Why not put locations of these pictures? You went online to download pictures, you can barely state where and when the pictures were taken.

Help2020:
Where is this in Lagos Op?

gidgiddy:
Didnt you see the court papers there?

Frigga13:
And funny Na Simeon ekpa community

He’s still building chest .. with lizard hands ..

Hopeless ekpa

Akwamkpuruamu:
Gas from Imo State, Ohaji Egbema would be taken to Kaduna and Kano while in Imo State we are still buying gas at a price higher than what's sold in KKK states.

So much for one Naijiria

oursnail:
You don't know anything. Just go and ask OBJ , senator Rasheed Ladoja and Bukola Akerele about the true age of Asiwaju Tinubu you will keep quiet. Where was you in 1992? Osinbajo is not on the list. Elephant is not small bush animal.

helinues:
Read, una no go gree

buckeyemedia:
Have you already read the constitution in less than 5 minutes?

That is why you are a failure, you think life is based on your myopic perception?

buckeyemedia:
Go & read the constitution properly, & stop exposing your ignorance.

GBJakes:
Truth be told, every investment in Nigeria is a scam. Even if it's legit, give it time it will surely end up with stories. Cut the long story short, Nigeria is scam and everything that comes out of it...

Lagos State Governor Babajide Sanwo-Olu has advanced reasons why All Progressives Congress critical stakeholders, particularly lawmakers must buy into the ambition of the APC National Leader, Bola Tinubu, to become Nigeria’s president in 2023.

He said Tinubu’s antecedents, and ability to transform vision and ideas into a reality positioned him as the best candidate to succeed the President, Major General Muhammadu Buhari (retd.).

Sanwo-Olu made the call while addressing a gathering of Speakers of Houses of Assembly at a forum organised by Lagos State House of Assembly in Ikeja on Wednesday. The event’s theme is: “The Legislature, Changing Times and Nigeria’s Democratic Journey”.

This was contained in a statement by his spokesman, Gboyega Akosile, titled, ‘Sanwo-Olu: ‘Asiwaju our only hope for true transformational leadership’.


Fifteen serving HoA Speakers from states being governed by APC fully attended the consultative forum, which also had serving Deputy Speakers, serving legislators of states, and all former members of the Conference of Speakers in attendance.

Sanwo-Olu told the lawmakers that the only tested individual with such gift and competence need for Nigeria’s transformation is Tinubu, who was a former governor of Lagos.

According to him, Tinubu’s leadership capacity had been sufficiently demonstrated, given the tenacity with which the former Lagos Governor rolled out vision and ideas that transformed the sub-national city into a flourishing economy.

He said the forum was held as part of wide consultations embarked on by the APC leader in his bid to win the support of the party members across various backgrounds and camps.

Sanwo-Olu said: “It is not by chance that you all are gathered here today. It is because we agree totally that you all are important stakeholders that need to be engaged and identified with separately from others.

“You are the real foot soldiers who can go back to the hallowed chambers and pass the message to all members of your respective Houses of Assembly and your former colleagues in the legislature across States.

“Tell them that the man, Asiwaju Tinubu, whom we all look forward to, has reached out and identified with them as important stakeholders in the journey to next political dispensation. We need a fresh breath of leadership at this critical moment in our country.

“Asiwaju is qualified and competent to provide leadership we desire to see. He has the spirit, capacity, tenacity, and experience to do that for us. As stakeholders, legislators, both current and former, are the critical component that can make this happen for us.”

islandsscotch8:
Asiwaju, Modern Lagos Architect , God bless you. No matter how bitter the enemies are, you will eventually triumph over them even if they reach a million soul.

Asour:
People actually work for investors & bring money back — while they themselves are being rewarded — without stepping foot at those companies.

Most commercial banks, Dangote, MTN, BUA foods etc all have investors who put their money in them and earn dividends periodically.

Even cooperatives like exist in the US. A fews Real Estate Investment trusts exist in Nigeria e.g. UPDC.

The model is not the problem it's our corruy tendencies so don't judge a concept by its flawed application. Most Nigerians — especially the Business class lack integy.

benedictuyi:
Nairaland is also to blame for the fraud perpetrated by Viable X.

Nairaland actively advertised ViableX, Ceepass, and Farm4me on their platform even when it was clear as daylight that these aforementioned companies were operating a Ponzi scheme

blazingblender:
My answer is a big Nooooooooooooo
My mom is to naggy abeg
I need peace of mind

dawnomike:
Dorsey is about to lose it all...

Investors call out CEO as they demand payout for overdue investment in Ceepass, Viable X, Farm4me

Investors of Ceepass; a digital bank for savings and investment, Viable X; export financing platform and Farm4me; a platform for contract farming in Nigeria (all manned by one man) have called out the CEO of the platforms, Adama J Adama as they request that their overdue funds be paid immediately.

Bittered by the continuous promise-and-fail by the firm to payout principal investment and the returns, investors who have continued to hold on to hope that they would one day wake up to a credit alert from the platforms appear to be out of patience.

For months, the investors have continued to suffer in silence, gaging their mouths for fear of losing out when government agencies become involved despite that the injury cuts deep every day.

“What good is the money when government sits on it?” They often argued.

Yet, promises continue to be broken and shattered to pieces, wearing out investors’ trust that they have no more to offer – after all pending bills have to be settled with real money and not on promises in reality.

For investors like Sopi (as identified on social media) who had to take a loan against his salary, added little savings and invested in ViableX and Ceepass, he only wanted to raise enough to care for his triplet, little did he know that that would be the biggest mistake of his life.

According to him, his investment with ViableX matured on the 13th of November 2021, and another in Ceepass matured on the 11th of January 2022. Up until now (as of the time of this report), nothing has been paid.

Similar to Sopi’s case, Mariam and other investors are going through trauma as a result of a lack of a clear-cut direction and continued silence on a specific payment date which is fueling suspense that the platform may be another ‘MMM’.

“He defaulted on my payment since December 2021, then sent a one-time communication in February tagging it January. We sent him a letter via email through all channels to ensure he talks to us as regards the timeline of the payment plan but there was no regard or response. Sincerely, we are running out of patience,” Mariam said, referencing a unanimous letter sent by the group of investors following an initial ‘Situation report on the business activities’ by Napoloen Chambers, the solicitor for Ceepass, Viable X and Farm4me.

In the letter by Napoleon Chambers, the solicitor stated that Ceepass, which is the hallmark business of the company suffered serious setbacks due to hacking of their online payment system leading to the loss of a huge sum of money. He added that the Economic and Financial Crimes Commission (EFCC) is currently conducting an investigation into the matter.

He also said the measure to utilize manual payment by the conglomerate occasioned some delays to payment to investors due to the huge volume of investors that require to be manually verified for payment.

Meanwhile, it stated in its undertaking, “In line with the terms of the duly executed contract binding between our clients and their numerous investors, our clients hereby vouch that no investor will lose his/her dime, our client will not rest in their effort.

It added, “To making sure all the monies due to all the investors’ entitlements would be fully liquidated not later than the end of March, 2022 and the third week of april 2022. This is an undertaking giving in absolute honour based on our clients’ track record and the effort on ground”

Unfortunately, up till the moment of writing this report, the company is yet to deliver as promised. According to investors, what’s more shocking is that in all of this, the CEO, Adama J Adama has failed to address investors and has blocked all channels through which he can be reached on social media.

In the letter written earlier in February by investors and seen by Nairametrics, investors had called out the CEO, requesting that the company communicates in a clear term to the completion of payments to all investors before/up until March, 2022 as well as set up a Zoom or Google Teams meeting for an interactive session with all convened for the explanation followed by a signed mail based on what was agreed upon which would be sent to all investors. But none of these recommendations have been met.

What the company is saying

In a phone call with the company’s manger for the Lagos Unit, Sunday Odachie, he consented that the business is currently facing challenging times but told Nairametrics that the company is working on how to resolve the challenges and pay out money to all the investors.

When asked about the specific pay day, he said, “At a point, the platform was hacked but we will all have to be patient as everything would be resolved very soon. We have stipulated time for payment in December, March ending and others, but we kept failing and the more we give time and fail, the more people bully us and get angry. So we are careful not to be specific on when we will deliver. It may be tomorrow or next week; it will just happen, we are very much in business.”

Commenting on what the company is doing to resolve the challenge, he said the platform is utilizing every means possible including seeking for grants and partnerships whilst also hinting to Nairametrics that the company is expecting export funds from the bank.

He said, “Our export proceeds are hanging in the banks. We have dollars hanging in there because of some proceeds that has not been done. You know anything that has to do with foreign transactions, sometimes there are hiccups along the line.”

On reasons for lack of communication, he said that the company has been reaching out to investors via SMS and emails all along.

“It is not true that we don’t pick calls. The customer careline is on. Our office in Ikeja is open as well but some investors would just come to social media and say we have locked up the office. Sometimes when they say we are not responding, I think it is the solution they are referring to. Once their money is not paid, they will say you are not responding,” he said.

Notably, Ceepass, Viable X and Farm4me are all linked as one, with Cesspass housing all. This means that every investor has an account on Ceepass. Hence, this explained why the three accounts were affected by the hack. However, one major concern is – if the account was hacked, are investors fund still intact?

Addressing the concern, Odachie said, “Investigations are still on and that would enable us to know the extent of damages. For now we cannot ascertain clearly the extent of the damages though we know they have tampered with funds. That aside we are legally binded by agreement to pay them whether there is a problem or not.”

Speaking on whether the principal will be paid alongside ROI, he noted that the agreement said if anything goes wrong, the least we can pay them is their principal investment. Meanwhile, he added that the company is yet to reach a decision on whether the capital alone will be paid or if returns will be added.

Bottom line

Crowdfunding in Nigeria has in recent times been going south fueling a rising feeling of pessimism over the crowdfunding industry in the country.

From Farm Power to Payfarmer, Goldvest, Emerald farms, Vestpay, H O Corn, FarmKonnect, Farm Sponsor and a list of endless ventures, these platforms known for funding a project or venture by raising money from a large number of people who contribute relatively small amounts, typically via the internet, have either defaulted or are delaying payments of investment funds, alongside Return on Investment (ROI) to investors.