₦airaland Forum

UDUF Africa:Why Nigerian banks lend me money without collateral – Coscharis



The Founder, President and Chief Executive Officer of Coscharis Group, Dr Cosmas Maduka, has stated that transparency, accountability, honesty, trustworthiness and decency were the reasons why Nigeria banks are lending him money without demanding for a collateral in accordance with the banking law.

Maduka disclosed this while mentoring Nigeria youths on how to be self-disciplined, responsible, hardworking, determined, dedicated and focused in their various fields of endeavour at a two-day 2025 Under 45 CEOs Business and Leadership Summit with the topic: “From power to purpose, leading with ethical courage, organized by Ultimate Destiny Uplifters Foundation (UDUF Africa), held at Bishop Patterson auditorium , All Saints Cathedral,Onitsha, the commercial city of Anambra State, on Saturday.

According to him, faith in God, self-belief and trust are what every Nigerian youth need at the moment to grow and develope themselves and the country at large.

“I didn’t do money ritual to grow, I made my money through faith in God and the trust people bestowed upon me. What you build on people last longer than what you build for yourself. You wouldn’t believe that in the last thrity years I never signed cheque of Coscharis Group despite having Yorubas as my Group Managing Director and Financial controller respectively as a typical Igbo man from Nnewi, Anambra State.

” I am reciprocating that trust people, investors and Nigeria Financial Institutions bestowed on me that have graciously lead me to the position I found myself today. I am looking for value and not tribalism as a humble man who started hustling as an Akara seller in Jos, Plateau State.


“You must learned to be trusted if you want to change your negative narratives in this World. Today, we live in a place where trust is almost impossible. Nobody will believe your vision and passion until you believe in yourself. You are the change Nigeria is looking for.

“I didn’t start life as a CEO, I started as an Akara seller in Jos, Plateau State, after I lost my father at the age of four.

” I rose to this position I am today, through faith in God and self-belief.


“I didn’t do my business along government sectors, I didn’t build Coscharis to prove that I am a powerful Nigeria, I built it because I believe that business is a calling. My guiding principles is whatever thing you do, do it as unto the Lord. Success is not about what you gain but about who you become and how you serve the society. Success without integrity lead to destruction. Focus without purpose is like a motion without direction.

“Because of my honest determination to grow and my trustworthiness, banks in Nigeria are lending me money without demanding for collateral, and the bank that first risk the trust in me was Guarantee Trust Bank (GTB).


“In 1977, I founded Coscharis Motor, a one- man trading venture that grew into the Coscharis Group, a wholly Nigerian-owned conglomerate with interest spanning automobile, auto-assembly, logistics, IT, agriculture, medical equipment, food and beverages, and chemicals. Today, the group represents leading global brands such as BMW, Jaguar,Land Rover, Ford, Renault and roll royce with operations across Nigeria’s six geo-political zones and in Ghana, Sierra Leone and Japan respectively.


“When you live a life of integrity, people will trust you, investors will believe you and most importantly God would back you up. Do not look for change, you are the change Nigeria is yielding for. I therefore urged you all to used what you have learned here today to develop a vision that will change the socio-economic hardship Nigerians are currently going through at the moment, Maduka concluded.

In his opening remarks, founder of UDUF Africa, Dr. Ezuma Smart Chinedu, emphasized the importance of youth perseverance and acquiring necessary skills to achieve business goals.

He explain that the 2025 summit with the Theme; LeaderShift: Building a new mindset for ethical leadership, was to guide young entrepreneurs on how to remain afloat in their endeavors following the challenges faced by businesses in the country.

“It also aimed to enhance leadership and business management skills and encourage networking among over 200 participants drawn from various sectors of the economy.

Chinedu noted further that Ultimate Destiny Uplifters Foundation aims to provide capacity-building opportunities to young people, entrepreneurs, and leaders who have a passion for serving humanity and transforming African communities.

The Summit that also featured panel discussion was equally attended by Prof. Olusegun Oludapo Sogbesan, Director General of Onitsha Business School, Lady Chinwe Okoli, CEO Solution Innovation District, Prof Stella Chinyere Okunna, Deputy Vice Chancellor, Paul University Awka, Daniel Chinagozi, Founder Innovation Growth Hub, Bishop Dr E.C Obiorah, Chairman, EMOS Best Industries, Kenny Adenugba, Sylvanus Izebhokhae, Registrar, Onitsha Business School, among others.

I equally attended the event and captured this images. It was a good outing.

Nigerian banks are known for favouring only the rich.

Nice one from Coscharis

Waoooo


I love reading things like this.

Coscharis type is rare in Nigeria. When I see him, I understand Peter Obi better.

Highly disciplined, Stubborn, incorruptible yet very successful in business

You have asset more than the collateral

That's why you can say this and the bank knows .

Ordinary man cannot say this to any Nigerian bank.

World of elites

Freddonance:
Nigerian banks are known for favouring only the rich.

Read the article.......you have to build yourself to that level were they also favour you.

This man was once an akara seller in Jos.....am sure your own case isn't that worst ATM.

Freddonance:
Nigerian banks are known for favouring only the rich.

Most startup business crash in the first year, if it survives five years and a good credit history. Banks and investors will rush you 📌💯

I can't give my money to a startup , it's gambling bro

Coscharis that late senator ifeanyi Ubah wanted scamming 😅🤣😥

PHIPEX:
Coscharis type is rare in Nigeria. When I see him, I understand Peter Obi better.

Highly disciplined, Stubborn, incorruptible yet very successful in business

oga they are words apart ....one was caught with laundered 250million naira cash in 2012 which is equivalent of today's 2.7 billion naira,he also carry state money invest for family buisness 😏

Freddonance:
Nigerian banks are known for favouring only the rich.

All banks in every country are known for favouring only the rich.

I thought Sanusi wanted banks to stop all this after they nearly wrecked the entire financial services industry. It seems these banks tend to forget that the money in their possession belongs to Nigerians. If they fail, they leave the gbese for Amcon.

Before people from Niger republic invaded Nigeria.

Sccarrr:
oga they are words apart ....one was caught with laundered 250million naira cash,he also carry state money invest for family buisness 😏

Agbados never cease to amaze me. The day the other aspires to become President, you'll say he laundered 500 Millon Naira. Ahh

Freddonance:
Nigerian banks are known for favouring only the rich.

You might call it that but know this and know peace they are in for gain not for charity if your asset is not worth partner with they will not favour you ... the same way you will not see Nigerian Bank supporting any Fintech project because they belive you are competing with them but with God if someone that is rich belive in your goal and ready to support you then the influence of that person can be use to open many doors

yea. That's what you tell the public.

OSHIOJANLE:
You have asset more than the collateral

That's why you can say this and the bank knows .

Ordinary man cannot say this to any Nigerian bank.

World of elites

There are elites that the banks don't even bother lending money in Nigeria

Won't call names sha

PHIPEX:
Coscharis type is rare in Nigeria. When I see him, I understand Peter Obi better.

Highly disciplined, Stubborn, incorruptible yet very successful in business

This is so wrong!

How DARE YOU put Cosmas/Coscharis and Obi on the same line?

One is an honest businessman while the other is a trader who made his wealth working with Abacha and now rolling with the likes of El-Rufai, Dino Melaye, Babachir Lawal, etc.

Please don't ever associate darkness with light I beg of you.

SeverusSnape:
Agbados never cease to amaze me. The day the other aspires to become President, you'll say he laundered 500 Millon Naira. Ahh

was he caught red handed with the 500m like the other guy caught with #250m in cash in 2012?.... of cause u don't know that's like 2.7billion naira of today in cash....smh

I think it's valuable and important to be able to talk about ur success story no matter the level or how small and how u made ur wealth.

OSHIOJANLE:
You have asset more than the collateral

That's why you can say this and the bank knows .

Ordinary man cannot say this to any Nigerian bank.

World of elites

You got it, he's trying to motivate us nee oo

Freddonance:
Nigerian banks are known for favouring only the rich.

So you mean if you have a bank you'll favour the poor? Poor man never do you something

Motivational rubbish and hypocrisy everywhere. Fo amd look at how his company treats staff and contractors then you would understand words are different from actions.

AnambraPeople:
UDUF Africa:Why Nigerian banks lend me money without collateral – Coscharis



The Founder, President and Chief Executive Officer of Coscharis Group, Dr Cosmas Maduka, has stated that transparency, accountability, honesty, trustworthiness and decency were the reasons why Nigeria banks are lending him money without demanding for a collateral in accordance with the banking law.

Maduka disclosed this while mentoring Nigeria youths on how to be self-disciplined, responsible, hardworking, determined, dedicated and focused in their various fields of endeavour at a two-day 2025 Under 45 CEOs Business and Leadership Summit with the topic: “From power to purpose, leading with ethical courage, organized by Ultimate Destiny Uplifters Foundation (UDUF Africa), held at Bishop Patterson auditorium , All Saints Cathedral,Onitsha, the commercial city of Anambra State, on Saturday.

According to him, faith in God, self-belief and trust are what every Nigerian youth need at the moment to grow and develope themselves and the country at large.

“I didn’t do money ritual to grow, I made my money through faith in God and the trust people bestowed upon me. What you build on people last longer than what you build for yourself. You wouldn’t believe that in the last thrity years I never signed cheque of Coscharis Group despite having Yorubas as my Group Managing Director and Financial controller respectively as a typical Igbo man from Nnewi, Anambra State.

” I am reciprocating that trust people, investors and Nigeria Financial Institutions bestowed on me that have graciously lead me to the position I found myself today. I am looking for value and not tribalism as a humble man who started hustling as an Akara seller in Jos, Plateau State.


“You must learned to be trusted if you want to change your negative narratives in this World. Today, we live in a place where trust is almost impossible. Nobody will believe your vision and passion until you believe in yourself. You are the change Nigeria is looking for.

“I didn’t start life as a CEO, I started as an Akara seller in Jos, Plateau State, after I lost my father at the age of four.

” I rose to this position I am today, through faith in God and self-belief.


“I didn’t do my business along government sectors, I didn’t build Coscharis to prove that I am a powerful Nigeria, I built it because I believe that business is a calling. My guiding principles is whatever thing you do, do it as unto the Lord. Success is not about what you gain but about who you become and how you serve the society. Success without integrity lead to destruction. Focus without purpose is like a motion without direction.

“Because of my honest determination to grow and my trustworthiness, banks in Nigeria are lending me money without demanding for collateral, and the bank that first risk the trust in me was Guarantee Trust Bank (GTB).


“In 1977, I founded Coscharis Motor, a one- man trading venture that grew into the Coscharis Group, a wholly Nigerian-owned conglomerate with interest spanning automobile, auto-assembly, logistics, IT, agriculture, medical equipment, food and beverages, and chemicals. Today, the group represents leading global brands such as BMW, Jaguar,Land Rover, Ford, Renault and roll royce with operations across Nigeria’s six geo-political zones and in Ghana, Sierra Leone and Japan respectively.


“When you live a life of integrity, people will trust you, investors will believe you and most importantly God would back you up. Do not look for change, you are the change Nigeria is yielding for. I therefore urged you all to used what you have learned here today to develop a vision that will change the socio-economic hardship Nigerians are currently going through at the moment, Maduka concluded.

In his opening remarks, founder of UDUF Africa, Dr. Ezuma Smart Chinedu, emphasized the importance of youth perseverance and acquiring necessary skills to achieve business goals.

He explain that the 2025 summit with the Theme; LeaderShift: Building a new mindset for ethical leadership, was to guide young entrepreneurs on how to remain afloat in their endeavors following the challenges faced by businesses in the country.

“It also aimed to enhance leadership and business management skills and encourage networking among over 200 participants drawn from various sectors of the economy.

Chinedu noted further that Ultimate Destiny Uplifters Foundation aims to provide capacity-building opportunities to young people, entrepreneurs, and leaders who have a passion for serving humanity and transforming African communities.

The Summit that also featured panel discussion was equally attended by Prof. Olusegun Oludapo Sogbesan, Director General of Onitsha Business School, Lady Chinwe Okoli, CEO Solution Innovation District, Prof Stella Chinyere Okunna, Deputy Vice Chancellor, Paul University Awka, Daniel Chinagozi, Founder Innovation Growth Hub, Bishop Dr E.C Obiorah, Chairman, EMOS Best Industries, Kenny Adenugba, Sylvanus Izebhokhae, Registrar, Onitsha Business School, among others.

With his statement about Nigeria, I think he is not amongst the Biafra agitators.

Freddonance:
Nigerian banks are known for favouring only the rich.

Then try to be rich so that Nigerian banks can favour you. CosCharis wasn't born rich.

OgaRico:
With his statement about Nigeria, I think he is not amongst the Biafra agitators.

Wealthy Igbo men no get time for that rubbish