LandMann:
Problem 1

There's so much cash flowing in the country and most of these are not being put to productive use because many of the ingredients needed for businesses to thrive are lacking, power especially.

Problem 2

Treasury bills was being used to mop up excess liquidity or cash in the system...hence the initial attractive rates... however, this created or creates two problems....

With a corrupt government, most of the funds realized from treasury bills sales end up being looted and funnelled again into treasury bills, instead of being use to provide real infrastructure.

Second problem it created or creates is that high interest on treasury bills kills the spirit of productivity and ingenuity and commerce and all those positives that lead to more thriving businesses....

Everybody would rather sit back, throw their money to the government to earn interest and do nothing, expecting the government to use the funds wisely to create infrastructure... Unfortunately, most of it is looted and returned to treasury bills or other financial instruments.

Solution 1

Treasury bills rates needs to/have been crashed to discourage Nigerians from putting their money there... This is to force us or indirectly encourage everyone to invest in the real sector or watch inflation wipe away the value of your idle cash.

Everyone seems to be turning to other repackaged government financial investments but it seems we will only end up making the same mistakes made with treasury bills, especially if we still have hawks in government waiting to loot any funds realized by selling such investments to Nigerians.

Appeal

Please, those who are more experienced in the area of commerce and real sector investments should promote their ideas and take in willing candidates and mentor them

There are millionaires and even billionaires in this this group... Let us come together and set up businesses... If we can pull resources together, there are profitable businesses that we can go.

Examples

1. Nothing stops us from pulling resources together, buying or renting a large expanse of land and setting up cattle ranches in areas in the West, South or East. This solves the incessant farmer herders clashes.

2. How about pulling resources together and setting up a factory to mill palm kernel oil? This is a very profitable business if setup and managed well, and I know a place where this will be very profitable but limited by lack of funding and technical know-how which someone or some persons in this thread may have.

This country is ours and we will either build it or destroy it unknowingly by our actions and inactions

nice concepts...but was has been the effect of low tb rates has it trigger the real econmomy? as envisaged

Well said. But no business can thrive in Nigeria with our epileptic power supply and insecurity. Govt must do more to improve electrical power supply and ensure security of lives and properties, not until that is done, we still gonna be having same issues in the next 20/30yrs to come. Massive corruption in all sector of the economy is another bottleneck.

LandMann:
Problem 1

There's so much cash flowing in the country and most of these are not being put to productive use because many of the ingredients needed for businesses to thrive are lacking, power especially.

Problem 2

Treasury bills was being used to mop up excess liquidity or cash in the system...hence the initial attractive rates... however, this created or creates two problems....

With a corrupt government, most of the funds realized from treasury bills sales end up being looted and funnelled again into treasury bills, instead of being use to provide real infrastructure.

Second problem it created or creates is that high interest on treasury bills kills the spirit of productivity and ingenuity and commerce and all those positives that lead to more thriving businesses....

Everybody would rather sit back, throw their money to the government to earn interest and do nothing, expecting the government to use the funds wisely to create infrastructure... Unfortunately, most of it is looted and returned to treasury bills or other financial instruments.

Solution 1

Treasury bills rates needs to/have been crashed to discourage Nigerians from putting their money there... This is to force us or indirectly encourage everyone to invest in the real sector or watch inflation wipe away the value of your idle cash.

Everyone seems to be turning to other repackaged government financial investments but it seems we will only end up making the same mistakes made with treasury bills, especially if we still have hawks in government waiting to loot any funds realized by selling such investments to Nigerians.

Appeal

Please, those who are more experienced in the area of commerce and real sector investments should promote their ideas and take in willing candidates and mentor them

There are millionaires and even billionaires in this this group... Let us come together and set up businesses... If we can pull resources together, there are profitable businesses that we can go.

Examples

1. Nothing stops us from pulling resources together, buying or renting a large expanse of land and setting up cattle ranches in areas in the West, South or East. This solves the incessant farmer herders clashes.

2. How about pulling resources together and setting up a factory to mill palm kernel oil? This is a very profitable business if setup and managed well, and I know a place where this will be very profitable but limited by lack of funding and technical know-how which someone or some persons in this thread may have.

This country is ours and we will either build it or destroy it unknowingly by our actions and inactions

LandMann:
Problem 1

There's so much cash flowing in the country and most of these are not being put to productive use because many of the ingredients needed for businesses to thrive are lacking, power especially.

Problem 2

Treasury bills was being used to mop up excess liquidity or cash in the system...hence the initial attractive rates... however, this created or creates two problems....

With a corrupt government, most of the funds realized from treasury bills sales end up being looted and funnelled again into treasury bills, instead of being use to provide real infrastructure.

Second problem it created or creates is that high interest on treasury bills kills the spirit of productivity and ingenuity and commerce and all those positives that lead to more thriving businesses....

Everybody would rather sit back, throw their money to the government to earn interest and do nothing, expecting the government to use the funds wisely to create infrastructure... Unfortunately, most of it is looted and returned to treasury bills or other financial instruments.

Solution 1

Treasury bills rates needs to/have been crashed to discourage Nigerians from putting their money there... This is to force us or indirectly encourage everyone to invest in the real sector or watch inflation wipe away the value of your idle cash.

Everyone seems to be turning to other repackaged government financial investments but it seems we will only end up making the same mistakes made with treasury bills, especially if we still have hawks in government waiting to loot any funds realized by selling such investments to Nigerians.

Appeal

Please, those who are more experienced in the area of commerce and real sector investments should promote their ideas and take in willing candidates and mentor them

There are millionaires and even billionaires in this this group... Let us come together and set up businesses... If we can pull resources together, there are profitable businesses that we can go.

Examples

1. Nothing stops us from pulling resources together, buying or renting a large expanse of land and setting up cattle ranches in areas in the West, South or East. This solves the incessant farmer herders clashes.

2. How about pulling resources together and setting up a factory to mill palm kernel oil? This is a very profitable business if setup and managed well, and I know a place where this will be very profitable but limited by lack of funding and technical know-how which someone or some persons in this thread may have.

This country is ours and we will either build it or destroy it unknowingly by our actions and inactions

high interest, high interest.. A good business can double your millions within a year. Treasury bills can't. Even at 18% tbills rate, it's still insane for some business men to tie their money there for a year.

izmercy:
https://drive.google.com/drive/mobile/folders/0B8KHt7Ln1U7jVk9GbjY2NGFDQWs

I noticed some wants ebooks. This link contains life changing ebooks.
My own little contribution to this wonderful thread.
Thank you all.

Nice collections.

izmercy:
https://drive.google.com/drive/mobile/folders/0B8KHt7Ln1U7jVk9GbjY2NGFDQWs

I noticed some wants ebooks. This link contains life changing ebooks.
My own little contribution to this wonderful thread.
Thank you all.

Thanks for sharing. Rich collections

The question still remains... can we ever solve our too many problems in Nigeria? NO! Not in this generation perhaps in the next two generations to come...

We can only create a good sustainable platform for the next generation. If we choose to fail just like the previous generations then the chain continues...

Funny nation where anything goes...
I just remembered stories where python swallowed how many millions for jamb office, monkey was accused too. Dino would climb a tree, MD go faint live on tele when querried for gross misconduct...

Truth be told, we need supernatural forces to intervene n cleanse our land of her uncountable issues

ahiboilandgas:
nice concepts...but was has been the effect of low tb rates has it trigger the real econmomy? as envisaged

It ought to trigger the real economy but the government brought out alternative to treasury bill which is Sukuk or so.

So majority are now diverting their funds into sukuk instead of the real economy, and with the problem of massive corruption still on ground, we will likely end up with same result in future, poor infrastructure, low interest rate, low interest in real business and everyone looking for where to dump their cash...

Meanwhile, inflation will have raised a loaf of bread that used to cost 100 now to 500 then, effectively reducing the real value of your money.


The Truth

A lot of people jump into investment without analyzing if they will lose at the end.

If you see interest rate of 11% now (eg Sukuk interest rate) and jubilate, your joy is for nothing because inflation is close to 20% or higher in Nigeria while NBS keep lying and telling everyone inflation is 14%.

Even at inflation rate of 14%, you still lose around 3% of your money yearly, money invested in sukuk or other interest bearing investment that pays 11%... That is 14% inflation rate - 11% interest rate...

By the time you compound over 2 or more years and something extraordinary happens that drives inflation much higher... My brother, your cash investment will just be turning to worthless tissue paper without you knowing.

My Point?

Any security investment that doesn't pay higher than inflation rate in Nigeria is worthless... If you choose to believe inflation rate of NBS you are on your own.

Go into the market and collect a basket sample of goods and calculate it's inflation rate compared to this time last year. The truth will shock you more than those in Aso Rock.

Way Forward

Put you money into real sector... agriculture, manufacturing, services directly.

Look for people to support their business and ensure you have firm oversight over the business or appoint someone to perform the oversight for you if you are too busy... I'll be glad to act in that capacity for anyone who is interested.

No matter how bad the infrastructure level is presently in Nigeria, investing in the real sector is currently better than investing in the financial sector. This will remain true as long as interest rate in the financial sector is lower than inflation rate, the destroyer of purchasing power.

ojesymsym:
Is there any international form of mutual fund that one can invest in using foreign currency?

United Capital has a dollar-denominated mutual fund called Nigerian Eurobond fund. The bond invests in FGN eurobonds and other qualifying SEC registered eurobonds. Minimum subscription is $1,000 for 90 days. You may contact them directly for more details/due diligence.

LandMann:


It ought to trigger the real economy but the government brought out alternative to treasury bill which is Sukuk or so.

So majority are now diverting their funds into sukuk instead of the real economy, and with the problem of massive corruption still on ground, we will likely end up with same result in future, poor infrastructure, low interest rate, low interest in real business and everyone looking for where to dump their cash...

Meanwhile, inflation will have raised a loaf of bread that used to cost 100 now to 500 then, effectively reducing the real value of your money.


The Truth

A lot of people jump into investment without analyzing if they will lose at the end.

If you see interest rate of 11% now (eg Sukuk interest rate) and jubilate, your joy is for nothing because inflation is close to 20% or higher in Nigeria while NBS keep lying and telling everyone inflation is 14%.

Even at inflation rate of 14%, you still lose around 3% of your money yearly, money invested in sukuk or other interest bearing investment that pays 11%... That is 14% inflation rate - 11% interest rate...

By the time you compound over 2 or more years and something extraordinary happens that drives inflation much higher... My brother, your cash investment will just be turning to worthless tissue paper without you knowing.

My Point?

Any security investment that doesn't pay higher than inflation rate in Nigeria is worthless... If you choose to believe inflation rate of NBS you are on your own.

Go into the market and collect a basket sample of goods and calculate it's inflation rate compared to this time last year. The truth will shock you more than those in Aso Rock.

Way Forward

Put you money into real sector... agriculture, manufacturing, services directly.

Look for people to support their business and ensure you have firm oversight over the business or appoint someone to perform the oversight for you if you are too busy... I'll be glad to act in that capacity for anyone who is interested.

No matter how bad the infrastructure level is presently in Nigeria, investing in the real sector is currently better than investing in the financial sector. This will remain true as long as interest rate in the financial sector is lower than inflation rate, the destroyer of purchasing power.

Bros you dey make xtra luxury sense o
I am seriously learning... Thanks to Treasury Bill Business School

Now, i think i need to add more to my fleet of kekes

LandMann:


It ought to trigger the real economy but the government brought out alternative to treasury bill which is Sukuk or so.

So majority are now diverting their funds into sukuk instead of the real economy, and with the problem of massive corruption still on ground, we will likely end up with same result in future, poor infrastructure, low interest rate, low interest in real business and everyone looking for where to dump their cash...

Meanwhile, inflation will have raised a loaf of bread that used to cost 100 now to 500 then, effectively reducing the real value of your money.


The Truth

A lot of people jump into investment without analyzing if they will lose at the end.

If you see interest rate of 11% now (eg Sukuk interest rate) and jubilate, your joy is for nothing because inflation is close to 20% or higher in Nigeria while NBS keep lying and telling everyone inflation is 14%.

Even at inflation rate of 14%, you still lose around 3% of your money yearly, money invested in sukuk or other interest bearing investment that pays 11%... That is 14% inflation rate - 11% interest rate...

By the time you compound over 2 or more years and something extraordinary happens that drives inflation much higher... My brother, your cash investment will just be turning to worthless tissue paper without you knowing.

My Point?

Any security investment that doesn't pay higher than inflation rate in Nigeria is worthless... If you choose to believe inflation rate of NBS you are on your own.

Go into the market and collect a basket sample of goods and calculate it's inflation rate compared to this time last year. The truth will shock you more than those in Aso Rock.

Way Forward

Put you money into real sector... agriculture, manufacturing, services directly.

Look for people to support their business and ensure you have firm oversight over the business or appoint someone to perform the oversight for you if you are too busy... I'll be glad to act in that capacity for anyone who is interested.

No matter how bad the infrastructure level is presently in Nigeria, investing in the real sector is currently better than investing in the financial sector. This will remain true as long as interest rate in the financial sector is lower than inflation rate, the destroyer of purchasing power.

Sukuk or bond is not an alternative to Treasury Bills.

In the capital market, business can raise fund either through equity or debt.

FG bonds, corporate bonds, State bonds are debt instruments.

Treasury Bill, Commercial papers are money market instruments

The financial market is divided into capital market and money market

Okay thanks. I have something like that with stanbic even though they have now increased their subscription amount but I was hoping for a more global portfolio.
Thanks for your kind response.

otomatic:


United Capital has a dollar-denominated mutual fund called Nigerian Eurobond fund. The bond invests in FGN eurobonds and other qualifying SEC registered eurobonds. Minimum subscription is $1,000 for 90 days. You may contact them directly for more details/due diligence.

I think it is an alternative if you look at the context in which landmann is looking at it. He is saying that people simply moved their idle funds from TB to Sukuk or bonds and avoided the real sector market that the low rates of TB was meant to stimulate.

emmanuelewumi:



Sukuk or bond is not an alternative to Treasury Bills.

In the capital market, business can raise fund either through equity or debt.

FG bonds, corporate bonds, State bonds are debt instruments.

Treasury Bill, Commercial papers are money market instruments

The financial market is divided into capital market and money market

I was risk-averse early in 2016 when exchange rates were rising crazily, and that was part of what informed my move into tbills, partly in the (vain) hope of covering some of the loss of value to inflation.

Right now, I would still like to invest money in any productive sector of the real economy, especially agriculture, but have learned the hard way that passive participation usually doesn't pay off.

So as an average Nigerian who, according to the CBN's theory, should be investing in the real economy, I'm instead sitting on my funds and collecting savings account interest, while looking round for what to do with them.

This state of affairs could last indefinitely, given the current realities in Nigeria today.

ojesymsym:
I think it is an alternative if you look at the context in which landmann is looking at it. He is saying that people simply moved their idle funds from TB to Sukuk or bonds and avoided the real sector market that the low rates of TB was meant to stimulate.

It is not an alternative. Sukuk has been around for long

Treasury Bills are for a minimum of 91 days, bonds and Sukuk are for a minimum 3 years.

Sukuk is not different from bond, it is a Sharia compliant debt instrument that does not invest in lottery, brewery, pornographic and usury investments. Reason why they don't pay coupons but rental.


It is their money, it is their investments, it is their low returns on investment. Good luck to them..

LandMann:


It ought to trigger the real economy but the government brought out alternative to treasury bill which is Sukuk or so.

So majority are now diverting their funds into sukuk instead of the real economy, and with the problem of massive corruption still on ground, we will likely end up with same result in future, poor infrastructure, low interest rate, low interest in real business and everyone looking for where to dump their cash...

Meanwhile, inflation will have raised a loaf of bread that used to cost 100 now to 500 then, effectively reducing the real value of your money.


The Truth

A lot of people jump into investment without analyzing if they will lose at the end.

If you see interest rate of 11% now (eg Sukuk interest rate) and jubilate, your joy is for nothing because inflation is close to 20% or higher in Nigeria while NBS keep lying and telling everyone inflation is 14%.

Even at inflation rate of 14%, you still lose around 3% of your money yearly, money invested in sukuk or other interest bearing investment that pays 11%... That is 14% inflation rate - 11% interest rate...

By the time you compound over 2 or more years and something extraordinary happens that drives inflation much higher... My brother, your cash investment will just be turning to worthless tissue paper without you knowing.

My Point?

Any security investment that doesn't pay higher than inflation rate in Nigeria is worthless... If you choose to believe inflation rate of NBS you are on your own.

Go into the market and collect a basket sample of goods and calculate it's inflation rate compared to this time last year. The truth will shock you more than those in Aso Rock.

Way Forward

Put you money into real sector... agriculture, manufacturing, services directly.

Look for people to support their business and ensure you have firm oversight over the business or appoint someone to perform the oversight for you if you are too busy... I'll be glad to act in that capacity for anyone who is interested.

No matter how bad the infrastructure level is presently in Nigeria, investing in the real sector is currently better than investing in the financial sector. This will remain true as long as interest rate in the financial sector is lower than inflation rate, the destroyer of purchasing power.

The way u people keep shouting the real economy, I wonder if you are in Nigeria at all.

Almost everybody in Nigeria is selling one thing or the other. No jobs. Everybody don turn marketers expecially online. Most graduates, undergraduates are sellers, fashion designers etc. The numbers of Keke, bike, and commercial buses on the road causing traffic is almost suffocating. There are more businesses in Nigeria than white collar jobs, yet, we keep shouting the real economy. Haba!

OgogoroFreak:
The way u people keep shouting the real economy, I wonder if you are in Nigeria at all.

Almost everybody in Nigeria is selling one thing or the other. No jobs. Everybody don turn marketers expecially online. Most graduates, undergraduates are sellers, fashion designers etc. The numbers of Keke, bike, and commercial buses on the road causing traffic is almost suffocating. There are more businesses in Nigeria than white collar jobs, yet, we keep shouting the real economy. Haba!

Was about to say this

For enterpreneurs the primary source of start up capital, should be your personal savings, grants or soft loans from family, friends, neighbours, church or mosque members, old school mates etc.

When the business has a track record, after being in operation for a year you can then approach a bank for a loan for the expansion of your business.

When Peterside Atedo wanted to start Stanbic IBTC about 30 years ago he used the money he saved as an Investment banker for 10 years at NAL merchant bank, his father who was a doctor also invested in his son's business, he also invited his friends, Peterside also invited his old school mates from Kings college.

Unfortunately these days you will see people who want a total stranger to invest in their real sector dreams. They want Investors to invest 100% of the capital, yet they want to own 70% of the business.

Who does that?

Lol...They are products of too many motivational speech that preach other people's money.

emmanuelewumi:
For enterpreneurs the primary source of start up capital, should be your personal savings, grants or soft loans from family, friends, neighbours, church or mosque members, old school mates etc.

When the business has a track record, after being in operation for a year you can then approach a bank for a loan for the expansion of your business.

When Peterside Atedo wanted to start Stanbic IBTC about 30 years ago he used the money he saved as an Investment banker for 10 years at NAL merchant bank, his father who was a doctor also invested in his son's business, he also invited his friends, Peterside also invited his old school mates from Kings college.

Unfortunately these days you will see people who want a total stranger to invest in their real sector dream. They want Investors to invest 100% of the capital, yet they want to own 70% of the business.

Who does that?

DexterousOne:


It was me who mentioned the negativity thing


The truth is

Ghanaians and (Black) South Africans are also victims of what I call "cesspool of negativity"

It's a black man problem we fight day in day out

And when we get out

It's another fight to remain out.

So when you are caught up in that condition

You dont get to see what's around u

Like the opportunity

Even for some of them who manage to see

They do not have enough funds or expertise to execute

@LandMann
Refer to this post

ojesymsym:
Lol...They are products of too many motivational speech that preach other people's money.

The main problems are trust and greed. They don't want risks, they want others to bear the risks but they want total control of the business and the highest returns

OgogoroFreak:
The way u people keep shouting the real economy, I wonder if you are in Nigeria at all.

Almost everybody in Nigeria is selling one thing or the other. No jobs. Everybody don turn marketers expecially online. Most graduates, undergraduates are sellers, fashion designers etc. The numbers of Keke, bike, and commercial buses on the road causing traffic is almost suffocating. There are more businesses in Nigeria than white collar jobs, yet, we keep shouting the real economy. Haba!

Spot on.

Why did I dig up this old post?

We need to understand the pains it takes for a Nigerian to amass even say 20m naira

That could be all he has in this world
And as such; he will be conservative as hell and risk averse raised to power 10. These are the people running to keep their monies in havens cos of the perpetual fear of losing it and starting from the scratch (ground zero)

Especially in a country this rugged with no credit; government or support system.

@LandMann
You have to understand the plight of many Nigerians rushing these fixed instruments


The economy is in a tailspin and is not investment friendly. We have a cow boy in Aso Rock, and cowboys in state houses nationwide; who can enact draconian policies at a whim, then your business is in hot water

People who said they will do rice importation business, the policy came out of nowhere, and they were in hot water, the ones that said they will do GoKada with capital money o, the govt came out of the blues with silly policies, those ones went underwater too.

Stories like these abound nationwide.

It's very easy to say "invest In the real economy "
Easy to say
But with the climate and govt in power....
It's a tall order.

That said
Will you commit your life savings into a "real economy venture " In this time and age?
Hope what I'm trying to say is clear to everyone

You will be surprised

That if you go round Nigeria
North, West, East and South

The number of people that have N500k to their name cash on hand at their disposal

Or let me say N1m cash on hand disposable liquidity
Is not even up to 10%


In conditions like these, how would you then commit your life savings to a venture when you know all the plagues that are waiting in line to afflict that business

Now we dont know the direction the NGN/USD breeze is blowing. If it blows wrongly, we are in HOT SOUP
So lets consider all these things

If you are currently operating in the real sector, I am sure you have learnt all the tricks that will enhance your success. So continue with what you are doing

But for salary earners, your best bet is fixed income, portfolio Investments and real estate.



We should also know that we can operate in the real sector in three ways.

1. Starting a business
2. Investing in debt instruments of operators in the real sector.
3. Becoming a part owner of players in the real sector, through equity Investments

Imagine a young guy needed 500k for a start up, the person he met said he would give him a loan of 500k @ 20% per annum, but must submit a collateral security that is worth N1 million and above.

The guy though he was smart, he dropped the keys and documents of his car with the lender, until the lender invited him to sign a memorandum of understanding with his lawyer, which will be stamped at the nearest high court.

Can you imagine, the start up enterpreneur said he doesn't want a loan again..


Why did he pull out if he was very sure of the business success?

LandMann:
Problem 1

There's so much cash flowing in the country and most of these are not being put to productive use because many of the ingredients needed for businesses to thrive are lacking, power especially.

Problem 2

Treasury bills was being used to mop up excess liquidity or cash in the system...hence the initial attractive rates... however, this created or creates two problems....

With a corrupt government, most of the funds realized from treasury bills sales end up being looted and funnelled again into treasury bills, instead of being use to provide real infrastructure.

Second problem it created or creates is that high interest on treasury bills kills the spirit of productivity and ingenuity and commerce and all those positives that lead to more thriving businesses....

Everybody would rather sit back, throw their money to the government to earn interest and do nothing, expecting the government to use the funds wisely to create infrastructure... Unfortunately, most of it is looted and returned to treasury bills or other financial instruments.

Solution 1

Treasury bills rates needs to/have been crashed to discourage Nigerians from putting their money there... This is to force us or indirectly encourage everyone to invest in the real sector or watch inflation wipe away the value of your idle cash.

Everyone seems to be turning to other repackaged government financial investments but it seems we will only end up making the same mistakes made with treasury bills, especially if we still have hawks in government waiting to loot any funds realized by selling such investments to Nigerians.

Appeal

Please, those who are more experienced in the area of commerce and real sector investments should promote their ideas and take in willing candidates and mentor them

There are millionaires and even billionaires in this this group... Let us come together and set up businesses... If we can pull resources together, there are profitable businesses that we can go.

Examples

1. Nothing stops us from pulling resources together, buying or renting a large expanse of land and setting up cattle ranches in areas in the West, South or East. This solves the incessant farmer herders clashes.

2. How about pulling resources together and setting up a factory to mill palm kernel oil? This is a very profitable business if setup and managed well, and I know a place where this will be very profitable but limited by lack of funding and technical know-how which someone or some persons in this thread may have.

This country is ours and we will either build it or destroy it unknowingly by our actions and inactions

Intelligent write up. Na man u be

emmanuelewumi:
Imagine a young guy needed 500k for a start up, the person he met said he would give him a loan of 500k @ 20% per annum, but must submit a collateral security that is worth N1 million and above.

The guy though he was smart, he dropped the keys and documents of his car with the lender, until the lender invited him to sign a memorandum of understanding with his lawyer, which will be stamped at the nearest high court.

Can you imagine, the start up enterpreneur said he doesn't want a loan again..


Why did he pull out if he was very sure of the business success?

The person PROBABLY HAD fraudulent intent

DexterousOne:


The person PROBABLY HAD fraudulent intent

Not really, he was not sure of the business profitability.

Some of the digital agriculture investment schemes which failed might not have an initial fraudulent intention

emmanuelewumi:



Not really, he was not sure of the business profitability.

Some of the digital agriculture investment schemes which failed might not have an initial fraudulent intentions.

You are right

That's why I said MAYBE

The returns I see being bandied around are just ridiculous

I saw the status of one who was promoting a 10: per month return ..

I kept scratching my head thinking.
In this current climate?

DexterousOne:
Why did I dig up this old post?

The economy is in a tailspin and is not investment friendly. We have a cow boy in Aso Rock, and cowboys in state houses nationwide; who can enact draconian policies at a whim, then your business is in hot water

People who said they will do rice importation business, the policy came out of nowhere, and they were in hot water, the ones that said they will do GoKada with capital money o, the govt came out of the blues with silly policies, those ones went underwater too.

Stories like these abound nationwide.

It's very easy to say "invest In the real economy "
Easy to say
But with the climate and govt in power....
It's a tall order.

The ban on the importation of rice didn't come out of nowhere. The evidence was there that the government was heading in that direction. Rice and maize are not the last food items whose importation the FG would ban. Some would still come out to lament when those policies are pronounced and implemented. The importation of "mutilated rags" also fall in this category. Businesses and financiers should pay more attention to governments policies; oftentimes, the pointers are always there.

As frustrating as the ban on okadas and marwa in some parts of Lagos is, the policy has been in place to ban motocycles and tricycles on some of those roads and bridges since the Fashola years... Long before the bike-hailing firms were established.

Yes the business environment in Nigeria is harsh, but sometimes we need to question the due diligence done by some entrepreneurs before taking other people's money to venture into a business.

NIPOST recently imposed hefty licensing fees on logistics companies - a space occupied by many SMEs - but the Communications Minister came out earlier today to say that he didn't approve such. Why a player in an industry will be regulating the same industry in this age puzzles me.

Abi oooo. Coz he knows that something would go wrong down the line.

emmanuelewumi:
Imagine a young guy needed 500k for a start up, the person he met said he would give him a loan of 500k @ 20% per annum, but must submit a collateral security that is worth N1 million and above.

The guy though he was smart, he dropped the keys and documents of his car with the lender, until the lender invited him to sign a memorandum of understanding with his lawyer, which will be stamped at the nearest high court.

Can you imagine, the start up enterpreneur said he doesn't want a loan again..


Why did he pull out if he was very sure of the business success?

Ghost01:

The ban on the importation of rice didn't come out of nowhere. The evidence was there that the government was heading in that direction. Rice and maize are not the last food items whose importation the FG would ban. Some would still come out to lament when those policies are pronounced and implemented. The importation of "mutilated rags" also fall in this category. Businesses and financiers should pay more attention to governments policies; oftentimes, the pointers are always there.

As frustrating as the ban on okadas and marwa in some parts of Lagos is, the policy has been in place to ban motocycles and tricycles on some of those roads and bridges since the Fashola years... Long before the bike-hailing firms were established.

Yes the business environment in Nigeria is harsh, but sometimes we need to question the due diligence done by some entrepreneurs before taking other people's money to venture into a business.

NIPOST recently imposed hefty licensing fees on logistics companies - a space occupied by many SMEs - but the Communications Minister came out earlier today to say that he didn't approve such. Why a player in an industry will be regulating the same industry in this age puzzles me.

Here is what I think
1) The rice ban was sudden, cos there was no lag between intent and implementation of policy

2)If you guys knew that you were gonna ban okada, why collect money from them (GoKada and co.) For regulation and licensing in the first place
I heard even Mc Oluomo (a no good riff raff) was even negotiating how much his body will collect from these companies via ticketing or so....
We do things in a very fo.olish manner in this country

That abrupt ban was a slap in the face
I ALSO HEARD THEY WERE GOING AFTER UBER OPERATORS


Until we can have a semblance of stability and normalcy in our investment space across different sectors, investing in Nigeria is akin to embarking on a journey into the wild west