The likes of you are the ones that will crucify newbies for asking questions and tell Dem to go read from page 1...yet you are derailing the thread and talking in d nonsense...hopefuls still come here for updates...stop derailing the thread

ositadima1:


What is this nonsense?

Carry your L in peace and stop derailing the thread...open a new thread to wrestle with your likes in the mud

CsRockefeller:


Let me not say what is on my mind because it's best not to wrestle with someone in d mud.

gaeul:
Carry your L in peace and stop derailing the thread...open a new thread to wrestle with your likes in the mud

Please leave me alone biko.

Iogobenz:
You want the best product at the best prices is you being a consumer.That is what consumers do.
Have you thought about the economic impact of having people sell tissues and toilet paper to you and then have to repatriate those profits?
So if I invest $25m as an FDI through CBN and I stay in Nigeria for 20years and repatriate an equivalent of $200m over that timeframe to my country,would you say Nigeria gained from this deal?
Is that not stupidity?
Yes consumers will be happy and feeling irate but what happens to your national wealth?
That is $200m earned from crude oil being wasted on a bullshit retail company being sent back to oyibo land for $25m investment in the name of profit repatriation and then later you will come and complain that Nigeria don't have light.
Where do you want them to get the fx to use to buy the power generating assets from when all of their reserves have almost been depleted by fx repatriation?
Another threat is this nonsense AB-Inbev that came the other day and are already overtaking Nigerian brands.
Make una continue,na all of us dey this shithole.
Dollar go soon reach 5000 with this consumer ideologies,just wait...

You are so.much on point. Best quality at best price my left leg.

afroxyz:


You are so.much on point. Best quality at best price my left leg.

Na so ooo.
Many times people ignore or fail to see the bigger picture because they are blinded by the short term,unsustainable progress they see in the short run.
If an FDI has to come all the way to set a standard for the retail industry in your country,then that should tell how weak our indigenous retail was.
But thank God Nigeria is a very industrious nation and homegrown retailers are beginning to give these people a run for their money and they are now running away,which is a good sign that signifies progress of the locals.
We need FDIs is complex industry,Power,Construction and some very technical fields,not that someone will come all the way and establish basically a boutique that even the dumbest aboki can do and use that to deplete our hard earned reserves from other sectors we managed to be earning fx from while repatriating profits that should have been in the country in the first place.
Next is the telecoms sector,just walt and see.
We will continue to buy their assets and chase them away in the nearest future.
If you aren't coming here to invest in things we can't do on our own but want to come and compete and possibly crush our indigenous businesses then don't come at all.
I hope some of you are now seeing the benefits of devaluation like I have been saying since.

gaeul:
To whom brain is given, sense is expected..must everyone be a noisemaker to show they are regular...you guys should go open a thread for your gibberish and leave our TB thread alone...

Ok, do something about it if you can or crawl back under your rock.

gaeul:
To whom brain is given, sense is expected..must everyone be a noisemaker to show they are regular...you guys should go open a thread for your gibberish and leave our TB thread alone...

TB Thread, TB Thread. Have you bought TBills this year? If you have, then you may have no regard for your financial well-being considering the low rates

Iogobenz:
Na so ooo.
Many times people ignore or fail to see the bigger picture because they are blinded by the short term,unsustainable progress they see in the short run.
If an FDI has to come all the way to set a standard for the retail industry in your country,then that should tell how weak our indigenous retail was.
But thank God Nigeria is a very industrious nation and homegrown retailers are beginning to give these people a run for their money and they are now running away,which is a good sign that signifies progress of the locals.
We need FDIs is complex industry,Power,Construction and some very technical fields,not that someone will come all the way and establish basically a boutique that even the dumbest aboki can do and use that to deplete our hard earned reserves from other sectors we managed to be earning fx from while repatriating profits that should have been in the country in the first place.
Next is the telecoms sector,just walt and see.
We will continue to buy their assets and chase them away in the nearest future.
If you aren't coming here to invest in things we can't do on our own but want to come and compete and possibly crush our indigenous businesses then don't come at all.
I hope some of you are now seeing the benefits of devaluation like I have been saying since.

Have you also seen why Ghanaians and other African çountries are opposed and giving Nigerian businesses serious trouble for wanting to take over their countries retail businesses. Do onto others what you want done to you.

Tobex4realTobex234:
If you think ShopRite is leaving because of theft, I have dollars to sell to you at 800.

My wife works with Coldstone and they arrest staff daily for theft related issues, but this business has continually turned in profits back to back, and equally promote the few good staffs accordingly.

I'm not saying theft is not an issue, but if Walmart can grow to over 400 stores in Brazil, I don't see why ShopRite will leave over an unfounded 550million bull crap.

Does shoprite own Coldstone?

keeper303:


Have you also seen why Ghanaians and other African çountries are opposed and giving Nigerian businesses serious trouble for wanting to take over their countries retail businesses. Do onto others what you want done to you.

Well,Ghanaians are using a very daft and primitive approach which is what I have a problem with.
You don't come and start organising protest and trying to start a program,No no!
Was this how Nigerians did it?No!
You build capacity and fight foreign retail businesses neck and neck with equal capacity too and competitive pricing with availability of variety too.
Now Nigerians capitalised on the fact that they don't need to repatriate profits to a foreign country and used that leverage to rival the pricing of their retail giant foreign competition.
Thesame thing is happening in all neighbouring countries.
Douala,lome,kumasi,cotonou,ndjamena,Accra,etc...
Igbo are giving them a run for their money in the retail segments of various businesses and you can't do nothing even in your home country cos they are simply put richer than you.
Make any wrong move and they will buy out your government and use your governemnt against you or buy the street cred and use it to fight you in your own country
Fight capitalism with capitalism,not protests.

Iogobenz:
Na so ooo.
Many times people ignore or fail to see the bigger picture because they are blinded by the short term,unsustainable progress they see in the short run.
If an FDI has to come all the way to set a standard for the retail industry in your country,then that should tell how weak our indigenous retail was.
But thank God Nigeria is a very industrious nation and homegrown retailers are beginning to give these people a run for their money and they are now running away,which is a good sign that signifies progress of the locals.
We need FDIs is complex industry,Power,Construction and some very technical fields,not that someone will come all the way and establish basically a boutique that even the dumbest aboki can do and use that to deplete our hard earned reserves from other sectors we managed to be earning fx from while repatriating profits that should have been in the country in the first place.
Next is the telecoms sector,just walt and see.
We will continue to buy their assets and chase them away in the nearest future.
If you aren't coming here to invest in things we can't do on our own but want to come and compete and possibly crush our indigenous businesses then don't come at all.
I hope some of you are now seeing the benefits of devaluation like I have been saying since.

i wait to see if Nigerians will take Retailing to next level..............

CsRockefeller:


Please leave me alone biko.

maishai:


i wait to see if Nigerians will take Retailing to next level..............

ShopRite is only reducing their holdings in the business, Tayo Amusan is the preferred person who will buy their shares

ojesymsym:
Which one be ghost shopper again?

ghost shopper means secret/ undercover shopper.

Sholapey:
ghost shopper means secret/ undercover shopper.

also called mystery shopper ....weldone

ahiboilandgas:
also called mystery shopper ....weldone

Exactly! A person employed to visit a shop or restaurant incognito in order to assess the quality of the goods or services.

Sholapey:
Exactly! A person employed to visit a shop or restaurant incognito in order to assess the quality of the goods or services.

when they recruit jagajaga people through man know man they get jagajaga service

dear emmanual pls can u help me with the copy of letter u wrote

My brother, even if you carry out so called due diligence and use the best recruitment method, you can still get poor quality service. That is why people now prefer to use referrers with the hope that the link to someone who referred them will make them a little more accountable so as not to disappoint the person who referred them.

ahiboilandgas:
when they recruit jagajaga people through man know man they get jagajaga service

ojesymsym:
My brother, even if you carry out so called due diligence and use the best recruitment method, you can still get poor quality service. That is why people now prefer to use referrers with the hope that the link to someone who referred them will make them a little more accountable so as not to disappoint the person who referred them.

with a ghost shopper everybody must be on his toes .....but when referal is the only criteria against an unreferred management strategist in certain enterprises.....issue like this will come up....

Hello All,

Does anyone know a USD fund (or EROBOND fund) in Nigeria that doesn't require international bank transfer. Most of the funds require sending funds outside the country through the intermediary bank. This takes off some chunk of the profit.

Ghost shopper non go show every day na? They are going to come in randomly which means the staff can take a chance.
Maybe shopping mails can create a whistle blowing feedback page where real people who come to shop can report acts of stealing that they observe like the one you said you observed.
Other businesses can actually have a model like this.
The only problem is that, na another staff who is probably part of the organized crime go still read am and not the owners of the business, so those ones can still cover it up.

ahiboilandgas:
with a ghost shopper everybody must be on his toes .....but when referal is the only criteria against an unreferred management strategist in certain enterprises.....issue like this will come up....

To the best of my knowledge, that is the only way you can even get a transfer to be done successfully. I do not think CBN allows for direct transfer between one dorm acct to the other. The principle I understand behind this is that our currency is in naira and all FX transfer should be outside the country, hence the need for an intermiedary bank for many of these instruments.

Wiseoldman:
Hello All,

Does anyone know a USD fund (or EROBOND fund) in Nigeria that doesn't require international bank transfer. Most of the funds require sending funds outside the country through the intermediary bank. This takes off some chunk of the profit.

Good day investors. Please anyone here has anything on renmoney? Thinking of doing biz with them.

Sholapey:
Exactly! A person employed to visit a shop or restaurant incognito in order to assess the quality of the goods or services.

Nigerian banks use them a lot. At first bank, several staff were cautioned or sacked based on mystery shopper response

ojesymsym:
To the best of my knowledge, that is the only way you can even get a transfer to be done successfully. I do not think CBN allows for direct transfer between one dorm acct to the other. The principle I understand behind this is that our currency is in naira and all FX transfer should be outside the country, hence the need for an intermiedary bank for many of these instruments.

CBN has nothing to do with Dom account transfer. Within a bank, transfers from one Dom account to another is instant. You are right about the currency issue. The reason you can't directly transfer from one Dom account in one bank to another is because they use different intermediary banks. If you transfer from a US dollar Dom account in bank A to a Dom account in bank B, the bank's account with an American bank is debited and transferred to bank B's account with another American bank before Bank B can credit their customer. If both banks use the same intermediary banks, the transfer could be instant.

I was just coming to edit my post before it gets quoted but you beat me to it. I just heard someone did a direct transfer, my experience was different some months back and what I wrote was what I understood from what I was told. Pretty confusing to me.

einsteine:


CBN has nothing to do with Dom account transfer. Within a bank, transfers from one Dom account to another is instant. You are right about the currency issue. The reason you can't directly transfer from one Dom account in one bank to another is because they use different intermediary banks. If you transfer from a US dollar Dom account in bank A to a Dom account in bank B, the bank's account with an American bank is debited and transferred to bank B's account with another American bank before Bank B can credit their customer. If both banks use the same intermediary banks, the transfer could be instant.

This anti spam bot banning me anyhow

The mods have to look into it

Iogobenz:
Well,Ghanaians are using a very daft and primitive approach which is what I have a problem with.
You don't come and start organising protest and trying to start a program,No no!
Was this how Nigerians did it?No!
You build capacity and fight foreign retail businesses neck and neck with equal capacity too and competitive pricing with availability of variety too.
Now Nigerians capitalised on the fact that they don't need to repatriate profits to a foreign country and used that leverage to rival the pricing of their retail giant foreign competition.
Thesame thing is happening in all neighbouring countries.
Douala,lome,kumasi,cotonou,ndjamena,Accra,etc...
Igbo are giving them a run for their money in the retail segments of various businesses and you can't do nothing even in your home country cos they are simply put richer than you.
Make any wrong move and they will buy out your government and use your governemnt against you or buy the street cred and use it to fight you in your own country
Fight capitalism with capitalism,not protests.

WTH are you talking about


What you typed up there
Does it make any iota of sense to you?

I've gone through some of the comments

And what I have read is very very shocking

einsteine:


Sundry Foods will never become a Fortune 500 company. Nobody is asking you to cry. I am going to assume you are running a business on the scale of ShopRite. What are you doing differently in your billion naira business that you think ShopRite has failed at?

I really don't get the craze for economic nationalism. I want best quality at best price. Whether that is produced by Sundry Foods a Nigerian company, AJ East a Peruvian company or CCH, a Greek company does not matter to me. They all employ Nigerians and profits (which is what these people repatriate) are also repatriated by Nigerian businesses. Are you aware that Dangote is opening a Family Office in New York, dedicating a significant proportion of his wealth (made from Nigeria) to foreign portfolio investments?

You talk about FDI putting pressure on the Naira. How are the foreign reserves built? When FDI comes into Nigeria, the funds go to the CBN and they are credited Naira at official rates, that's the only reason they still go back to the CBN when it's time to send back profits. The Chinese and Lebanese Traders in Nigeria change their funds at black market rates and are also perfectly willing to put pressure on the Naira by buying at black market rates when it's time to send money back to their countries.

"Putting pressure on the naira"

That's one of the most silly phrases I hear when people talk about these things

For those who do not know
FDIs create a multiplier effect in the economy that far outweighs the profit repatriation that they do

A business that invested $200m will not repatriate more than say $20m annually

The value generation generated in the country due to the FDI injection far outweighs the capital gains repatriated

That is why every country
The USA inclusive
Is fighting for FDIs


China wont be China today without FDIs
Indonesia and South Korea the same

People just use simplistic thinking to reason out a technical economic issue

einsteine:
The reason for the great support for economic nationalism is because Nigerian companies are not doing very well abroad. The day will come when Nigeria starts having companies generating serious revenues abroad and then maybe some Nigerians would understand the challenges faced by foreign investors in Nigeria (particularly those who try to at least do the right thing).

The vast majority of Nigerians have no idea on how to run a business, and they do not have the grit, discipline or the will for delayed gratification to expand their business to the heights these south African multinationals do.

That's why many of our businesses underperform abroad

Look at Glo
A shit company in Ghana
MTN, Airtel and Vodafone is beating them handicap

With the exception of some banks and say Dangote Cement
The nigerian businesses abroad are not living up to expectation

Someone will come and brag about a shop opened in one corner
Just wait and see