₦airaland Forum

Those who abhor Segun may well be somewhat myopic and ungrateful. Here is a guy who has helped keep the bank sound, given the staff a sense of security and training likely above their peers in other banks. Its no coincidence staff turnover in GTB is probably the lowest in the industry. They probably don't acknowledge it but Uncle T must have otherwise he would have groomed a successor. He had once being seen that way too when he was in Segun's position. Those who knew him in the 90's when he was deputy to Fola say he was the harder of the two. Fola was the amiable one, the one they all loved to be.

Segun is at the helm now and maybe heads will roll or has started rolling. He learnt from two masters and I bet he learnt well. A despotic leader is not an option for GTB and I am sure he knows that. He has CBN and certainly some members of his board backing him up at least for continuity as a Vacuum helps no one. His experience and track record probably also makes him the right choice to lead the bank to next frontier. As for the staff and those who worry, its time to brace up and have a birds eye view. This is no time to be shortsighted.

Check out the list below;

Aliko Dangote 1957
Mike Adenuga 1953
Tony Elumelu 1963
Tayo Adenirokun 1955
Fola Adeola 1954
Jimoh Ibrahim 1967
Erastus Akingbola 1951
Cosmas Maduka 1961
Wale Babalakin 1960
Femi Otedola 1967

What do they all have in common apart from being rich? Now look up again, yes you guessed right they were all born between 1950 and 1970. These are arguably some of Nigeria's billionaires. Some were born in the 50's whilst the others in the 60's. Between the oldest and the youngest is about14 years. Still within the same generation.

These guys all belong to a Golden Generation. A generation that it's maturity coincides with the formative stages of the modernization of the Nigerian Economy. The generation that was the obvious choice to have bought banking licenses just as the Babangida government deregulated the banking sector. The generation that obtained oil licenses by just being acquaintances with the government. The generation that were ready when the government decided to privatize its companies. The generations that will oversee the start of the economic revolution in Nigeria. The Generation that had a head start on those that will be born 10 to 20 years after it.

Although, you had the account number wrong, the teller was supposed to verify both name and account number.  That is the reason they require you to provide that information when filling out a deposit form.

It's valentine day and the whole city is buzzing. From a male perspective today is a day to show our better half how we truly love them. Most times doing this involves spending huge sums of money on gifts, flowers, dinners etc. For all you know there is indeed a direct relationship between a how you value your wife and how deep your pocket is. Meaning if you value your wife pretty high there is every tendency for you to spend more. But then what truly is the worth of a woman? Forget the cliche of "a woman is worth more than diamond" or "a woman is priceless" blah blah blah. There is gotta be a monetary value attached to it. It's even ironic that our forefathers thought of it this way that they put a bride price on their daughters.

How then do I estimate a woman worth on say a yearly basis? To do this you will have to think like you're from Mars. Hence I will base my estimates on the following questions;

1. How much would you have paid for her to be pregnant for you and get you a baby?
2. How much would you have paid her to raise your children from infant till they are 18?
3. How much would she charge you were to pay her for love making at your beck and call?
4. What is the present value of all the future earnings she will receive as a salary earner?
5. How much will you pay her for cooking for you and keeping your house hold in order?

Are there anymore I'm missing? Guess I'd just stick with these for now!

My estimate reveals an astonishing N32.7m per year!!!! Wanna know how? Here it is;

Kobojunkie:
Again we are moving even closer to negotiating a deal with these criminals. What is new?

Meet a young beautiful lady named Shirley. She drives a Volkswagen Bug, lives in a flat in Lekki, owns a pair of the latest blackberry phones and is an undergraduate student of high flying university. Next is Dami, she is a middle level employee of an Insurance company. She rents a luxurious flat on the island in Lagos and like Shirley is highly fashion conscious and drives a Honda S.U.V. Unlike Shirley though she has a job but obviously cant afford her luxurious lifestyle. However, both girls are your typical Lagos big girls. You can find them in clubs and major events centers around Lagos. You might even have sat next to them on a flight overseas or in some luxurious fashion mall overseas.

So what gives them that extra income that allows them afford the luxurious lifestyle that they live? It all boils down to an asset, an irresistible asset. An asset that most men lust for and will do anything to have a piece of, even if it's for a night. These girls don't just give their priced asset away for pleasure, it comes with a hefty price, both materially and physically.

By now you must think I'm talking about prostitution. Your close but dead wrong!.Lately it's become rebranded, remodeled, fashionable and a lot more socially acceptable. At times some say its part of "fun". You don't have to stand on the street anymore to practice it and you probably don't need a love-vendor or a brothel to be fished out. All you need is a phone, not just any but a blackberry, the very latest. You also need not come from a poor background or a broken home or be an orphan. Even the rich "spoilt"ones indulge in it. Look, even chics who have good jobs do it too. So the stigma is minimal if there is even any. Also, it need not be with a man, even women need intimate satisfaction. Its no more prostitution, it is DEAD, reborn and simply called RUNS

Some make an average of N20k a day by just having some "fun" doing "runs". Multiply that by 25, you get N500k a month. To put it into better perspective, that's about a take home pay of an average Bank Manager with a wife and a child. In some cases, suitors buy them cars and often pay their house rents. Their trips abroad are sponsored by men or women as the case maybe. Ask a lot of guys out there, 1 out of every 5 girls you meet expect some form of monetary compensation before or after consensual sex. If its not love then its got to pay the bills. It's no more about mutual likeness, payment is an instinctive responsibility of the host.

Take a subset of 100,000 girls who you will typically refer to as "chics". We trim that further to 20%, giving us 20,000 chics who indulge in Runs in Nigeria. If you then multiply that 20,000 figure by N10,000 and then by 25 days and finally 12 months, it gives you N60b in annual income that is made by the 20%. Or simply put N200m a day. Forget my purely arithmetic valuation as it excludes inflation and other factors that will frequently be included. Whatever measure is used won't differ much and even if it does, might even be more alarming. And remember I excluded rents, cars and other gift items and used a grossly conservative figure in my valuation. It's no wonder child trafficking and female prostitution is a billion dollar business in the world

So, in the unlikely event that you come across Shirley or Dami someday, don't look down on them. See them as investors or business owners or even professionals in an evolving, dynamic and multi billion Naira industry -RUNS.

I was discussing with real estate agent recently about why there were so many unoccupied houses in lekki and in some parts of Lagos Island. His answer was that the landlords were unwilling to let down on the rent price and would rather have the houses unoccupied than occupied for a rental amount considered too small.

Curiously I wondered who is loosing in that regard as an owner of an unoccupied building
surely must be finding hard to repay the cost of construction. At the moment of asking the reason became mutually obvious. These guys have no cost of borrowing. Neither do they face any form of loss of value on their property. It was a win win situation for them. The funds were simply unlevered and unencumbered. It was corruption money. Money belonging to the people of Nigeria basically 'housed' in grandiose properties all over Lagos and indeed Nigeria.

It's no wonder house rents never seem to go down. It's probably how some of our parents also built those mansions in the village that can't ever be monetized as no one ever lived in them all year long.

So that explains it. The sad truth is that most of the housing units in Nigeria are funded from corruption money. Money looted from both the public and private sector at a pandemic level.

As Lagosians bask in the euphoria of the new Tenancy law, be reminded it is just a short term respite, till housing become low cost and funded via mortgage, it will continue to be a shelter for looted funds.

Well, from what I heard (unconfirmed though) all the amounts collected goes first to the DPO of the area. From there a portion is sent further up the ladder to the Area Commander and from there could go as far as to the commissioner. In fact in the days of good old Tafa we heard it could go as far as to the IG himself.