₦airaland Forum

topsquino:
It's not charity.

You can make good profits if you take your worker's welfare seriously.

I've many friends who run their business without putting their employees in mind.

They end up complaining workers are this or that.

I've seen many law/IT firms who make a lot of money in this country.

Yet they will pay their junior staff, who just finished law school, below 50k.

In the end, their staff will steal their clients and start their own law firm and the cycle continues.

We can't build wealth like this, if we continue to pay workers an amount that cannot even take care of their basic needs.

Such new lawyers are actually learning and also paid a stipend for the learning. It is not everything they will learn in the University or law school. As time goes on some of them will become partners earning tens of millions of Naira or must have acquired enough experience to start their own successful law firms.

Mike Ozekhome, Rotimi Jacobs, Festus Keyano, Femi Falana all ( Senior Advocates of Nigeria) has their tutelage from the law Chambers of late Gani Fawehinmi.


I don't support employees spending more than 10 years with an employer

They should gather the necessary experience and knowledge, then move on to do greater things

ahiboilandgas:
am not talking of smartness Nigerians are smart but criminally smart most time.......am talking of science,societies etc ....the G7 countries are mainly europeans .....look how they organise Austrilia,new zealand,south africa ...look at the quality of life of european societies ,goverance,fairness etc...do u know top Neigboorhood in Nigeria like ikoyi ,Nassarawa gra where rich Nigerians luv to stay where former european quarters

Even the supposed "high brow areas" in Nigeria's look like crap compared to high brow places elsewhere

What we call highbrow area is a disgrace

Increasing poverty is making Nigerians more corrupt, increasing corruption is making Nigerians poorer.

Classical chicken and egg dilemma

But it boils down to absence of safety nets, and uncertainty, if a junior worker steals because if low pay or job insecurity, when she becomes a manager such theft is now a habit and the vicious cycle begins again.

emmanuelewumi:
God has done his part and it is perfect, we need to do our own part

God won't come down to do what he has given us the abilities to do .

You are absolutely right Sir.

The reason I mentioned and re-emphasised on the EMPATHY and VALUE perspectives.

I see those two as special ingredients to having a good employer and employee in an organisation.

ahiboilandgas:
Nova Merchant Bank Limited is seeking to raise up to N10 billion 7-year Fixed Rate Subordinated Unsecured Bonds under its N50 billion debt issuance programme. The bond has a yield of from 12 per cent to 12.50 per cent. The offer, which opened on June 30, will close on July 8, 2020.

According to the bank, it will use the proceeds from the bond issuance to invest in long-term risk assets, as part of its medium-term growth strategy. Proceeds of the bond issue will also serve as Tier-II capital for the bank, within the requirements of the Central Bank of Nigeria(CBN).

Oversubscribed by almost 300%

emmanuelewumi:
Such new lawyers are actually learning and also paid a stipend for the learning. It is not everything they will learn in the University or law school. As time goes on some of them will become partners earning tens of millions of Naira or must have acquired enough experience to start their own successful law firms.

Mike Ozekhome, Rotimi Jacobs, Festus Keyano, Femi Falana all ( Senior Advocates of Nigeria) has their tutelage from the law Chambers of late Gani Fawehinmi.


I don't support employees spending more than 10 years with an employer.

They should gather the necessary experience and
knowledge, then move on to do greater things

What they are paying today's young lawyers are not stipends but "peanuts"

How do you expect a young lawyer receiving 30k per month in lagos to be happy with the job?


Why can't employers pay them something that would at least take care of the basic expenses of the new recruits?

I'm not against paying stipend, but I don't support corporate slavery.

Well, this business model you are advocating for ends up breeding resentment, nurturing corporate begging and fueling unethical behaviors.

Again, Nigerian employers who want to stay in business for long needs to prioritize the welfare of their workers.

I rest my case on this topic

topsquino:
What they are paying today's young lawyers are not stipends but "peanuts"

How do you expect a young lawyer receiving 30k per month in lagos to be happy with the job?


Why can't employers pay them something that would at least take care of the basic expenses of the new recruits?

I'm not against paying stipend, but I don't support corporate slavery.

Well, this business model you are advocating for ends up breeding resentment, nurturing corporate begging and fueling unethical behaviors.

They are pupil lawyers. Working with certain lawyers even for a year is a plus to their credentials. After two years they can start their own law firm if they are not upgraded to partners

The cases the law firm get are due to the brand name of the principal partner of the firm. Those who become partners will stop earning salaries but starts getting commission and profit sharing.

I disagree with you sir, i dont know how many countries you have been to but if you have been to countries that is getting it right you will find out that most of them have one thing in common..the government lead by example by getting it right then the people follow government's footstep, look at what is happening to Magu..in a country that works once there is corruption allegation on him he will resign before being embarrased..but im Nigeria he will rather die there than resign, what is this teaching an average Nigerian and the younger ones who are leaders of tomorrow?

GonFreecss1:
The government cannot get it right if the citizens don’t sir.

If you understand psychology well, you would see there is what is called “consensus”.

The painful thing is Nigerians don’t understand general consensus. A country deserve the leaders it gets especially in the long term.

How many leaders do we have total? 100K? 200K?
I put it to you that if majority of the leaders are bad and majority of the people are good, the country will be far better than what it is today.

And even if “all” the leaders are good and majority of the people are bad, you would be wasting your time.

Just look at racism in America back in the days, Texas and co, there were rules against racism but the white citizens continued it. They are enjoying what they are enjoying today because of a majority consensus to do what is right.

Same thing with the George Floyd incident, at first the mayor and chief of police wanted to do anyhow, see what a majority consensus did to them.

Because many Nigerians are benefiting from the corruption of our government, many are not interested in doing anything for the country. Just look at fraudsters, is it not the same government they complain about that is bad that makes lax laws that make them do their fraud with impunity?

What about Contracts? This is the worst, but we have been blaming government for years, but what has the majority consensus done?

emmanuelewumi:
My profit should be proportional to the profit of the business. I can't be making profit after tax of N10 million while employee expenses is N2 million.

Except you are running a perfect business, that needs few or no worker.

i don't get u sha, my principle is any business must have yields above fixed income rate ,my personal target is 25-30 yeild on capital..it might be short term or mid term ....

fineguy11:
Adjusted LAPO FD rate...Still lucrative, despite economic challenges we facing currently..Msg me for more info.

How do we go about this?
The 30days, can it he rolled over?

XiaoLi:
I disagree with you sir, i dont know how many countries you have been to but if you have been to countries that is getting it right you will find out that most of them have one thing in common..the government lead by example by getting it right then the people follow government's footstep, look at what is happening to Magu..in a country that works once there is corruption allegation on him he will resign before being embarrased..but im Nigeria he will rather die there than resign, what is this teaching an average Nigerian and the younger ones who are leaders of tomorrow?

Magu’s attitude is not a government attitude. It’s a Nigerian attitude.

You say developed countries? If government set rules in this country and the citizens don’t follow this rules nkan?

Consensus is very important. Government can set all the rules they want, if the majority don’t obey, nothing will happen.

XiaoLi:
I disagree with you sir, i dont know how many countries you have been to but if you have been to countries that is getting it right you will find out that most of them have one thing in common..the government lead by example by getting it right then the people follow government's footstep, look at what is happening to Magu..in a country that works once there is corruption allegation on him he will resign before being embarrased..but im Nigeria he will rather die there than resign, what is this teaching an average Nigerian and the younger ones who are leaders of tomorrow?

Capitalists build countries,not governments.
Who built Japan,USA,Germany etc...?
You think all those skyscrapers you see and civilisation and all that were as a results of their government?
If an economy is not productive,those things will not he there even if the government is doing good with zero corruption.
Sujimoto is building the Leornardo now in lagos with 60m deposit,how many people can afford that?
So how do you expect real estate developers to build giant buildings in Nigeria when the fùcking citizens can't afford it because of the total absence of middle class caused by lack of capitalism and industry?
Anybody saying government is responsible for civilisation and emancipation of it's people doesn't know what he is talking about.

Benzboys:
Capitalists build countries,not governments.
Who built Japan,USA,Germany etc...?
You think all those skyscrapers you see and civilisation and all that were as a results of their government?
If an economy is not productive,those things will not he there even if the government is doing good with zero corruption.
Sujimoto is building the Leornardo now in lagos with 60m deposit,how many people can afford that?
So how do you expect real estate developers to build giant buildings in Nigeria when the fùcking citizens can't afford it because of the total absence of middle class caused by lack of capitalism and industry?
Anybody saying government is responsible for civilisation and emancipation of it's people doesn't know what he is talking about.

100%%%%%!

Said my mind!

ultron12345:
I can relate very well with your second paragraph.

I run a manufacturing business and a trading business.
The biggest challenge in my manufacturing business is not power, or infrastructure, the biggest challenge is getting honest staff. Everyone we hire is appears to be on a mission to steal as much as possible. Inflated invoices, recording less than the actual number of units produced. The worst part of it all is that all the fraud we've uncovered is not done by a single person, it's usually many staff who collude with each other, from production, to sales, to finance, even top management. There was a year I overhauled management 3 times in a year. But I've found a solution sha, I now use Indian management. So competent, so honest and so straightforward. I thought they were expensive at first with all the visa fees, accommodation, house staff, but now that losses due to staff theft have been reduced to a minimum, and efficiency increased, the Indian management has turned out to be cheaper than the previous Nigerian management. Now, all sensitive positions involving money go to Indians. Nigerians are only allowed in non-sensitive positions. I used to criticize companies like Dangote Group that hire so many Indians when there are many unemployed Nigerians, but now, I understand their decision.

My biggest challenge in the trading business is the same, getting honest staff. The form of trading occurs in the open market, and involves staff having access to huge sums of money running into a few millions. I know how much I pay to security companies to provide escorts for the staff, not to prevent robbery, but to ensure that the staff go straight to the bank to deposit the money after the day's sales and not disappear with my money. This money spent on security companies is even enough to be declared as profit. We have to spend on CCTV, biometric scanners and other things that wouldn't not be needed if staff weren't looking for the slightest opportunity to steal.

It got so bad at a point that my main criteria for employing staff was no longer conpaetency but honesty. At least, competency and skills can be learnt, but once you're dishonest, you're dishonest.

We always complain of the economy and how they are no jobs. I know people abroad who would have loved to set up job creating businesses in Nigeria but they can't because they can't get any trustworthy person to run it.

I know people in Nigeria with so much money, they want to start factories and other job-creating businesses but they can't because they are occupied elsewhere and can't get any trustworthy person to run the business. So instead of investing in the real sector and creating jobs, they'll just buy treasury bills, while the thieves are shouting no jobs.

Many big businesses would have been born in Nigeria if we could engage in partnerships, but we cant because you can't trust anyone. This is one advantage the Indians and Lebanese have over us in Nigeria. They can pull resources together and do mega-business, unlike Nigerians that because only one person must do everything since we can't partner, end up with small, tiny businesses.

Start a poultry and they will be stealing your eggs. Some will even go
ahead to be killing the chickens so that they'll be allowed to take them home.

Start an entertainment/viewing/game center and they'll be pocketing
your money. On the days you're around at the business, the money
realized will be x10 of the money realized when you're not around.
Because they're eating your money.

Lease out a vehicle to a driver to use and watch as he'll finish you.

Start a restaurant, the same thing will happen. More than half of the
total food ingredients will end up in their personal kitchens.

Even ordinary provisions shop, they will find a way to steal.

You'll see them with that their evil, wicked saying "na where person dey work, na there e dey chop, na e make dem dey callam workchop/workshop"...... Just imagine, justifying theft at work.

And you'll see these people point their crooked fingers at politicians when they're not any different. I usually say the reason most Nigerians haven't stolen billions of government money, is simply lack of opportunity.

Nigerians are the problem of Nigeria.

That is if they do not even kill you! I have enough money to start up any business in nigeria but i will rather invest them.

Even real estate nko? Someone suggested I build houses and rent them out.

I know what tenants can do, it is easier for Tenants to get house than for them to pay as at when due and even maintain the house.

Inagine building a house for 30M and then renting it out for 500k yearly?

Yet you still spend money maintaining the house yearly and you will still have to beg the tenants to pay.

My Goal is investment and not business now

Benzboys:
Capitalists build countries,not governments.
Who built Japan,USA,Germany etc...?
You think all those skyscrapers you see and civilisation and all that were as a results of their government?
If an economy is not productive,those things will not he there even if the government is doing good with zero corruption.
Sujimoto is building the Leornardo now in lagos with 60m deposit,how many people can afford that?
So how do you expect real estate developers to build giant buildings in Nigeria when the fùcking citizens can't afford it because of the total absence of middle class caused by lack of capitalism and industry?
Anybody saying government is responsible for civilisation and emancipation of it's people doesn't know what he is talking about.

Correct.


A billionaire should be able to create more millionaires, a successful businessman should be able to create more business men.

A successful lawyer, should be a to create more successful lawyers who can do great things for themselves and not employee lawyers

Let me tell you, there are thousands of Invictus Obi and Hushpuppi in every country..in terms of big scale fraud Nigerians is not more dangerous than Koreans, Americans, Russians, Chinese, French,Indians e.t.c the difference between Nigeria and those countries is that the criminals in this category from those countries will be tamed and not given the chance to operate by the government but in Nigeria the story is different, we are talking about how insincere a common man in Nigeria have become not people like hushpuppi and co.

GonFreecss1:
Nope. This excuse doesn’t apply again.

Invictus Obi defrauded people off, not 1, 2 or 3 but 11 million USD.

Hushpuppy nkan?

We live in a country that likes flamboyant lifestyles earned via short cuts. At a time in my life I thought I was suffering and I have met people who have suffered more than me and still... made something good of themselves without succumbing to their selfish desires.

emmanuelewumi:
You now see the reason why busy executives are okay with portfolio Investments that will conveniently give them between 15% to 20% per annum and they will be okay on the long run

Good! Imagine investing 20M

Is 15% not enough yearly

At the bolded, a serious country will not condone this, go to Orchard street in Singapore and pee and tell me it is too little for the government to look into

GonFreecss1:
Have you been in a position of power before?

Do you think it’s issues like this that will come to your desk?

The purpose of a leader is not to be perfect but to try and serve for the good of the Majority.

Where would the lines be drawn in government imposing on businesses? Or people solving a problem?

Born2conquer:
That is if they do not even kill you! I have enough money to start up any business in nigeria but i will rather invest them.

Even real estate nko? Someone suggested I build houses and rent them out.

I know what tenants can do, it is easier for Tenants to get house than for them to pay as at when due and even maintain the house.

Inagine building a house for 30M and then renting it out for 500k yearly?

Yet you still spend money maintaining the house yearly and you will still have to beg the tenants to pay.

My Goal is investment and not business now

Well let's just say you don't have enough money that's why you are buying fixed income rather than real estate because if you did have enough money,you should have been looking at buying a property in Ikoyi for rental income.
Do you think tenants in Ikoyi owe rents?
Money stop nonsense nwanne,leave plenty shalaye.
Na for all those 300k backwater flats weh you dey hear say person dey owe four year rents because landlord dey fùck em woman.Try that in Ikoyi and see
Chagoury group develop eko atlantic city,massive real estate in the heart of lagos.Later go and rent there and owe them let me see or go lekki phase 1 go owe
If they used that money to buy fixed income,many of you with your 5m won't even see fixed income to buy in the first place.
Leave business for those who have enough money and expertise for it and not condemn it because you don't have what it takes to do it properly.
If you take offense at what I said I'm sorry,but it is what it is...

All those houses in Ikoyi that have been empty for many years now have their rents paid by ghost I believe.
All those boys who run corner shop have money in drones before they were able to start.
True about expertise, but that can be learned with practice but the problem is the people who will either steal your money or refuse to pay rent.

Benzboys:
Well let's just say you don't have enough money that's why you are buying fixed income rather than real estate because if you did have enough money,you should have been looking at buying a property in Ikoyi for rental income.
Do you think tenants in Ikoyi owe rents?
Money stop nonsense nwanne,leave plenty shalaye.
Na for all those 300k backwater flats weh you dey hear say person dey owe four year rents because landlord dey fùck em woman.Try that in Ikoyi and see
Chagoury group develop eko atlantic city,massive real estate in the heart of lagos.Later go and rent there and owe them let me see or go lekki phase 1 go owe
If they used that money to buy fixed income,many of you with your 5m won't even see fixed income to buy in the first place.
Leave business for those who have enough money and expertise for it and not condemn it because you don't have what it takes to do it properly.
If you take offense at what I said I'm sorry,but it is what it is...

Not totally true, government policies will help countries to grow too!

Benzboys:
Capitalists build countries,not governments.
Who built Japan,USA,Germany etc...?
You think all those skyscrapers you see and civilisation and all that were as a results of their government?
If an economy is not productive,those things will not he there even if the government is doing good with zero corruption.
Sujimoto is building the Leornardo now in lagos with 60m deposit,how many people can afford that?
So how do you expect real estate developers to build giant buildings in Nigeria when the fùcking citizens can't afford it because of the total absence of middle class caused by lack of capitalism and industry?
Anybody saying government is responsible for civilisation and emancipation of it's people doesn't know what he is talking about.

Benzboys:
Well let's just say you don't have enough money that's why you are buying fixed income rather than real estate because if you did have enough money,you should have been looking at buying a property in Ikoyi for rental income.
Do you think tenants in Ikoyi owe rents?
Money stop nonsense nwanne,leave plenty shalaye.
Na for all those 300k backwater flats weh you dey hear say person dey owe four year rents because landlord dey fùck em woman.Try that in Ikoyi and see
Chagoury group develop eko atlantic city,massive real estate in the heart of lagos.Later go and rent there and owe them let me see or go lekki phase 1 go owe
If they used that money to buy fixed income,many of you with your 5m won't even see fixed income to buy in the first place.
Leave business for those who have enough money and expertise for it and not condemn it because you don't have what it takes to do it properly.
If you take offense at what I said I'm sorry,but it is what it is...

Tenants are now negotiating for lower rents in the high end of the property market, apartments are becoming vacants for years without tenants at Ikoyi, Lekki.

The best bet is Commercial real estate, the current pandemic is also affecting income.

Rent defaults also occur in upscale areas as well too.
The reason why many are averse to owning commercial property is the legal system.

In countries where its well organised, it's not a problem.

XiaoLi:
Not totally true, government policies will help countries to grow too!

Keyword here is HELP,not initiate or responsible!
So you've gotta start first,grow and then government can meet you half way by giving you fair policies.

Government has a big role to play, no one is denying that, but the problem is that the people who are suppose to pay their role do not. You mentioned if someone pees somewhere in Singapore if the government will leave you, the answer to that it is not the president that will personally attend to them but the *people in this case police who are supposed to do their job.

XiaoLi:
Not totally true, government policies will help countries to grow too!

Most underdeveloped countries are lawless and corrupt, countries that works dont joke with any of their laws.

GonFreecss1:
Magu’s attitude is not a government attitude. It’s a Nigerian attitude.

You say developed countries? If government set rules in this country and the citizens don’t follow this rules nkan?

Consensus is very important. Government can set all the rules they want, if the majority don’t obey, nothing will happen.

Born2conquer:
How do we go about this?
The 30days, can it he rolled over?

yes off course...But note, all rate are in per annum.

emmanuelewumi:
Tenants are now negotiating for lower rents in the high end of the property market, apartments are becoming vacants for years without tenants at Ikoyi, Lekki.

The best bet is Commercial real estate, the current pandemic is also affecting income.

Pandemic aka force majeure,very normal.
When everything returns to normal,its business as usual.

9jatriot:
Government has a big role to play, no one is denying that, but the problem is that the people who are suppose to pay their role do not. You mentioned if someone pees somewhere in Singapore if the government will leave you, the answer to that it is not the president that will personally attend to them but the *people in this case police who are supposed to do their job.

Not even police sir. Citizens will snitch on you asap before police come. That is what we are talking about.

9jatriot:
Government has a big role to play, no one is denying that, but the problem is that the people who are suppose to pay their role do not. You mentioned if someone pees somewhere in Singapore if the government will leave you, the answer to that it is not the president that will personally attend to them but the *people in this case police who are supposed to do their job.

Exactly.
I do remember in 2017 or so, when the VP was acting, he came to Lagos once and passed through MMIA and had to stop to exhort the workers to "please be sure to wash the toilets, they're in bad shape".

This was the time when MMIA was an international eyesore, you come off a plane and when you have to go in to immigration through the downstairs door, you pass an awful stench coming from the toilets.

XiaoLi:
Most underdeveloped countries are lawless and corrupt, countries that works dont joke with any of their laws.

Oga. If majority decide to disobey what will happen?

Will the government jail everyone? Listen to what I am saying sir.

“Majority consensus” lol!

You keep arguing.

9jatriot:
All those houses in Ikoyi that have been empty for many years now have their rents paid by ghost I believe.
All those boys who run corner shop have money in drones before they were able to start.
True about expertise, but that can be learned with practice but the problem is the people who will either steal your money or refuse to pay rent.

Empty for many years?what kind of house?
You can't build a mansion for yourself and later decide to leave for somewhere else and put up for rent and expect to find tenants easily na.
I was talking about houses designed for rental purposes.No way that kind of house will be empty in a place like ikoyi if the pricing is in range with what the market is offering in that area,never!
And I wasn't talking about shanties aka aboki shops in Ikoyi either.
Stop lying to suit your narrative,shalom