₦airaland Forum

Some people here making comments don't understand that ShopRite as a Business is different from the Building they use. Most of these outlets pay rent in dollars. And with the way the dollars keep fluctuating, their chances of meeting the obligations to suppliers are slim.

But Moniepoint didn't try. It didn't learn from other traditional banks that are fumbling under heavy debts

What you just said is a big fat lie.

It is the APC economy caused it. Ever since this evil party took over in 2015 many businesses have closed.

Then enter the Agbado master who knows next to nothing in job and wealth creation, other than to tax the citizens and reduce their purchasing power. The calamity in the presidency doesn't have the mental capacity to handle a complex country and economy like Nigeria.

Tinubu is OTP.

Microfinance borrow entity 2.4bn

Really

Do they have such power?

Zocalite:
Microfinance borrow entity 2.4bn

Really

Do they have such power?

I wonder o! 🤔

sleek214:
That's crazy. With their expensive goods. They should sell off some of their buildings and pay. ShopRite in Jabi, Abuja is worth more than 2.4 billion.

Sell off properties that are on lease?? Do u think shoprite owns d buildings?

opalu:
Some people here making comments don't understand that ShopRite as a Business is different from the Building they use. Most of these outlets pay rent in dollars. And with the way the dollars keep fluctuating, their chances of meeting the obligations to suppliers are slim.

But Moniepoint didn't try. It didn't learn from other traditional banks that are fumbling under heavy debts

God bless u. Some think shoprite owns all d buildings. Lol

Why the Nigeria man go buy wetin done fall already, Super stores nah water in Nigeria of today, and they sell at cheaper rate too esp Bokku

The real owners did the needful and at the right time

sleek214:
That's crazy. With their expensive goods. They should sell off some of their buildings and pay.

ShopRite in Jabi, Abuja is worth more than 2.4 billion.

How many years of experience do you have as an estate surveyor and valuer

sleek214:
That's crazy. With their expensive goods. They should sell off some of their buildings and pay. ShopRite in Jabi, Abuja is worth more than 2.4 billion.

Churches will at the end buy those buildings

sleek214:
That's crazy. With their expensive goods. They should sell off some of their buildings and pay. ShopRite in Jabi, Abuja is worth more than 2.4 billion.

Shoprite is an anchor tenant. They do not own any of the malls they are found.

It is a lease.

sleek214:
That's crazy. With their expensive goods. They should sell off some of their buildings and pay. ShopRite in Jabi, Abuja is worth more than 2.4 billion.

Rented

maiunguwar:
And some ijiats are complaining that Dangote refinery is ran mainly by Indians. Put Nigerians to manage Dangote refinery and it will collapse in no time

Not all Nigerians please
The good and kindhearted once are not giving the opportunity to run a company.

I was working with Arikair Ltd for years and have seen their downfall before today, I communicated it but you know now.

Thos is proper Onigbese

About 10years ago when Shoprite entered Nigeria, many people on this platform said they will run the regular traders out of business.

They said they will teach the local business men in the markets HOW TO RUN A GOOD BUSINESS. Today the reverse is the case

I only use GTbank to receive salary. All my savings goes to Opay that gives me daily interest.

3Si69:
Something is telling me to deal with moniepoint with thousands not millions. I'm moving out some funds to my GTBank.

I can't believe Moniepoint could be this sloppy. There is certainly a possibility of collusion. The CEO needs to answer some hard questions.

nlfpmod:
This explains the empty shelf at ShopRite shops before they finally shut down 👎




Source

you see why I love my Igbo people, we don't go running businesses on mismanaged loans, that's why Igbo businesses survive even in the harshest economic environment. Yes called me a tribal bigot but that's the bitter truth

nlfpmod:
This explains the empty shelf at ShopRite shops before they finally shut down 👎




Source

Shame. Nigeria, my people. This is why one must be careful when carrying out business with Nigerians. This is one reason Nigeria leadership is where it is today.

Zocalite:
Microfinance borrow entity 2.4bn

Really

Do they have such power?

one of my female friend who work with a small microfinance Bank give out loan totaling 120m to some customers, customer don't pay back, my friend was arrested by her office, she spend 2weeks at the police station, she has been freed but very sick now. Her boss husband work with Uba. So yes, monipoint will have such power if they know people in the banking sector. It's naira and not dollar.

delishpot:
Tomorrow same Nigerians will complain if a company brings only foreigners to manage it's affairs. We only complain when not given opportunity to $+£@l

You think say na ordinary eyea Alhaji Dangote take hire AMTAB BASHAN from India as the MD of his Refinery?

CodeTemplarr:
Lol.. Nigerian market is unique.

What are your thoughts on the performance of government parastatals? It's clear that there are significant challenges in that sector. The government is primarily supporting these agencies with taxpayer money rather than funding them based on their own revenue generation. This situation clearly highlights the ongoing issues that need to be addressed.

oluwaseyi0:
Wawu
A 2.4 billions from one business entity

dem don buy houses for different places and even use Swiss bank sef

Make them pay our Moniepoint their money oh

lordm:
I only use GTbank to receive salary. All my savings goes to Opay that gives me daily interest.

Tell me about the interest and if you must locked up the fund for a while month or longer. The one I know, if you liquidate it before the date, you will loss the interest.

Not surprised.
Have known its a matter of time when I saw those who acquired it.

Why will moniepoint risk giving loan to such a risky entity

The problem with Nigeria big business like this is not much of the economy but bigmanism.
Once they are control of one thriving business they want to drive bulletproof vehicles.

datola:
Chai, running business is not for the faint hearted, especially in Nigeria.

I do tell people, the fact that you see big businesses with crowd does not mean they are doing well/making profit.

How can a status of Shoprite borrow money from a Micro Finance bank with so high interest rate.

You don't know what you're talking about. I'll tell you a secret.... Palmpay gave #3b loan to item 7.
Can you get such loan amount from all this old banks without worthy equivalent collateral??

sleek214:
That's crazy. With their expensive goods. They should sell off some of their buildings and pay. ShopRite in Jabi, Abuja is worth more than 2.4 billion.

Lol, Oga shoprite does not own the premises, they only lease space inside those shopping malls.

Did he marry more wives or used the loan to celebrate Salah?

Obakoolex:
You don't know what you're talking about. I'll tell you a secret.... Palmpay gave #3b loan to item 7.
Can you get such loan amount from all this old banks without worthy equivalent collateral??

Watin be item 7?