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Would You Go Into Business With A Nigerian?

giving the extent of fruad and deception in nigeria, i as a nigerian will feel very uncomfotable doing business with a fellow nigerian. I know alot of nigerians will be angered by this and maybe disappointed.But lets face the fact, the rate at which most nigerians are wanting to become a millionaire regardless of who they screw is unbelievable.

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Nigeria is made up of over 140 million people.

At least 60% are adults.

84 million people cannot be all crooks.

I used to think that before one goes into a business, one is supposed to do a thorough research which includes researching his would be associates. Even if the person is from the moon, you would not be doing yourself any good by trusting him/her hook line and sinker. You have to put the necessary checks in place. You have to be smart to go into business in the first place otherwise you are better of with . . . .

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Most ignorant statement.  A friend of mine used to have the same mindset till he was duped of large amount of money by a Northerner (Hausa). 

There are fraudulent people in all races

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At a point though you begin to wonder at what expense do you want to build your country.

Forget that matter, you are speaking like an investor, 80% of people buying shares in Nigeria today are buying to double their money, their is no investor mentality (I also include myself in that 80%), check the no of people looking for tips on this site, even tomato sellers dey buy shares, they don't care for the CEO or whatever so far they can double their money and get out quick.

@Topic, I prefer dealing with any other race (except the eastern europeans) except Nigeria, but if I am forced to choose a Nigerian I will do business with a Northerner i.e. Hausa

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I agree with you Load. If we can not take positon, believe, trust and invest in our own people, nation; who and where do we invest. We have to build our nation ourself by investing in our people, trusting each other. Then we wonder why our country is not moving up like is suppose to. We just have to know whom to deal with, and how to deal with them. I don't have any problem dealing with Nigerians at all.

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It's sickening reading questions such as this - Would You Go Into Business With A Nigerian?

Do whatever you want, as long as you can achieve your aim without going into business with Nigerians.

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actually the yearly reports from transparency international is not that bad on Nigeria ,it has been positive for Nigeria in the last two years at the least ,below are some statistics from their site ;

The Corruption Perceptions Index 2001 ranks 91 countries.

Nigeria placed 90,less corrupt than just one country (1.0989010%)

The Corruption Perceptions Index 2002 ranks 102 countries.

Nigeria placed 101,less corrupt than just one country (0.9803921568627451%)

The Corruption Perceptions Index 2003 ranks 133 countries.

Nigeria placed 132,less corrupt than just one country (0.7518796992481203%)

The Corruption Perceptions Index 2004 ranks 146 countries.

Nigeria placed 144 less corrupt than two countries (1.36986301369863%)

The Corruption Perceptions Index 2005 ranks 159 countries.

Nigeria placed 154,less corrupt than 5 countries (3.1446540880503147%)

The Corruption Perceptions Index 2006 ranks 163 countries.

Nigeria placed 142,less corrupt than 21 countries (12.883435582822086%)

one of the main problem that you might notice from this thread is that many of us Nigerians do not even know that there is any change happening in our country or when we see one we don't accept that its genuine .

every country have crimes of various kind and believe me if u would do some little search on google with the words like scam,fraud,crime and the such alike you would come to know that Nigerians do not commit most of the crimes in the world,the difference here is that the crimes committed by Nigerians seems to get the bigger attention .

I am not trying to take the side of few Nigerians that bring bad name to the rest of us ,but i must say here that unless we believe that we have honest ones among us ,then our image problem may be too hard to solve.

in summary i must say that is rather shameful that a Nigerian would start this thread with such topic as this "would you go into business with a Nigerian ? " i would like to know when he uses the word Nigerian ,does he exclude himself ?

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@ruesco, your experience is not a reflection of "Nigerians", but rather, your family members.

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Such a need do not arise.There is an Ibo saying that goes like this "What is in the home of a rat, is also in the home of a squirrel)

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Let me post another experience: in the past was doing some business with guys in the North.

As a Christian I am very ashamed but I have to admit:

Moslems are more honest business partners, why not us?

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Business whether with your blood brothers or church or christain brothers must be guided by written agreement,(Terms and conditions clearly spelt out,nothin left) before the business goes into full swing.

In your case, Your fellow church member have the idea that can be called ROA (return on assets) which can aslo be seen as unseen money.

With his idea, it is onus on him to bring in the (ROI) Which involves the capital you put in.

Profit sharing ratio shall be in most cases 20% alloted to the company, 30% to your partner,50% to your self.The contract will reflect a healthy spirit allowing your partner to buy into the company future.(Under this initial condition, your profit ratio stands at 70%)Remeber if you re incorporating a company for this business, your partner will not be allotted any share, but can be assigned the position of Non executive director, BUT being your church member to give him a sense of belonging lets say out of 1000000 share eg he might allote him 20,000shares.

At his early stage the money purse must be within your oversight, for example any major items (Lets say from 20k) to be bought shall be in the presence of you two.

Formost the contract will contain what is called strategic exit term, where you partner who have the idea shall not exit from the company within the first five years.

Lastly Do you have the adequate sum to run the company before the money starts coming in? if he have given you a budget of 500k, pls add 30%.

I repeat business is all about contract,drafted to terms and conditions, trust, intergrity, firmness of character and honesty. Though these maybe present, do not admit gentle man agreement. The bible warned that in the last days people will not be open to any agreement (2nd Timothy 3:3)

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I'm in business with friends in church

partnering 2geda forming an entertainment outfit

he's got d time and ideas i ve got d money an mgt skills

so far its working fine no hassles yet bt b4 d monies strt comin

we 'll go to the lawyers and lay evry tin bare

SPELL/SPILL IT OUT!

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NO!

No TO THE POWER 10000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

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There re fraudsters, scammers littered all over Europe, the continental USA, Asia and Far East Asia, name it, these re not Nigerians, Hence going into business with a fellow Nigerian whom i can see is far far better than one faceless whiteman i havent seen.Thats why these white fraudsters and scammers have found a fertile avenue online.

Corrupt business practices was even rampart during the time of Hammurrabi, Business is all about agreement spelt out to terms and condtions no hold bare, even if with your blood brothers.

For those who cant trust their brothers here in Nigeria, how much have you added to their living condition, do you give them fish by throwing down the so called dollars or what ever it might be called.

Do you go into business with one who dont know pro and cons of running business? I have been in business for over 17years all at one time and other are fellow Nigerians.AGREEMENT DRAFTED, TERMS AND CONDITIONS SPELT OUT, EACH PERSON KNOWS HIS POSITION ETC.

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I will do business with a Nigerian if there is any positive profitable prospects. Nigerians are no bad people,the era when Nigerians are stigmatized as 419 people is no more. Today Nigerians are known as hardworking people ready to make it in life.

Nigeria is presently a Gold mine with an economy that is on the growing side, a miracle land.

I see no reason why i should not do business with a Nigerian.

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Unfortunately, there are dishonest people from all walks of life, not just Nigerians.

I think it's extremely unfair to 'judge' a whole country on the actions of various unscrupulous individuals.

And of course it's mainly the 'scammers' that seem to get the most publicity, and I am sure that they are probably really in the minority.

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It is not about the nationality of the person you want to do business with, it is all about trust. If you find it hard to do business with a Nigerian, how will you be able to do business with some which you may not know where he comes from. Settle the problem of trust and you will be able to do business with anyone.

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Hey! the major problem is that Great Nigeria is still a lawless nation and some nigerians believe they can get away with anything. If there is a high probability of fraudsters being caught and punished, fraud will reduce. By the way, the success of internet scams by nigerians is sometimes due to the presence of a little greed in the victim.

@Rubbermaid

       I think you just offended 120 Million+ Nigerians. I believe God will prove himself otherwise.

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@Rubbermaid.

My dear with all due respect, I must tell u tht I'm very disappointed tht u could say such unpleasant things abt ur nation from faraway Califonia like u claim. Pls stop painting 9ja blacker than it really is. I will cont. to say it, fraud n internet scam is not peculiar to 9ja. Distrust in all remification is not peculiar to 9ja. The Americans, the Britons, the Germans, the Russians, etc are all into it. 4get sentiments, we are not all saints here I knw, but we have very 'clean' pple here too. And they are plenty too. God is not tired of us abeg. Rgrds.

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@rubbermaid,i pray gods not tired of naija oh

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common never said u werent good and i do know there are good guys in naija,was just messn with you

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@boyalinco "@akamihe;nice words,hope we don't have to issue a caveat on you" It's not fare but then no sweat, u r entitled to ur personal opinion. We have very good guys here in 9ja 4real!

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Believe it or not u can't do without trust in any relationship - Business, Marital, etc. Just pray to God to rebuke the devourer 4 u. There are good n bad pple everywhere. Internet scam n fraud is not peculiar to 9ja. We have plenty good guys here in 9ja. If u need convinction, take a risk, give me a try! Lets c how it goes. One love.

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As a total foreigner to Nigeria, I have often been advised against Nigerians, my exposure to them has been selubrious to say the least, running drug/sex/counterfeit rings in the US/Europe and UK.

However, as some people have pointed out, you cannot actually trust very many people these days, they all seem to be in it for what they can get out of you.

I have had the same experience with eastern europeans as above, I wouldnt take it so hard on yourselves. It hardly seen as endemic of the breed.

I'm hoping to visit Nigeria during the course of the year on business and will update you on my experiences.

I think personally that if you are naive and un-worldy-wise, you will get 'got' where ever you are, whoever you are.

Happy New Year by the way!!

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@Oke amu

Thats the way to go brother. Nothing like trust in business. just put enuff checks and balances, and create a win win situation, (theres something for everyone). But if ever u get screwed, then u didnt look well and kind of deserve to get screwed so u learn ur lessons.

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As a project manager myself, I Dont fu**cking trust, get a lawyer, make them sign stuff, have weekly review on how things are going. Get diverse people into your team. These things help reduce chance for fraud. Make sure that everyone is aware of what is going on. Invite financial firms in nigeria for bid on your budget handling and make sure that the financial firm you are hiring have diverse employee. Did I say diverse employee?? Nigeria is still a long way to stop seeing Igbos as Igbos or yorubas as yourubas. This is something that will go away if a team is diverse.

Have weekly meeting with whoever you are giving your money. Atleast until 2 weeks into the project. then measure progression of the project. Keep tract of the progression and make sure that its all meant. When i mean progression, I am refeering to something like work output, when they come to the office, their approaches in the project.

The last but not the least, dont give your money to individuals, hire a firm to pay them when work is completed on a weekly bases. that small amount you pay to the firm to pay the employee is worth it instead of loosing. that is how most human resources operate right now,

Again the HR resource you are hiring to pay the people must be very diverse. If possible get foreigners on the team. The more diverse it is, the more likley to fraud will be reduced, get igobs, hausas, yorubas, efik, ibibo, indians and even white people,

This is one solution to it

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No one is saying there aren't fraudsters in other countries, but the argument is the depth at which scams have eaten into us. Every cyber cafe, at anytime of the day is filled with people looking for someone to scam. About two months ago, a friend of mine who i went to high school with; scamed an American and wanted the money transfered to my checking account because the guy would not seal the deal except he (my friend) has a U.S account number. What would you do if you were in my position, considering that you have a legitimate job?

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@

didisky

ofcourse not.

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May I ask this one question? Are all Americans or Britons honest ?

Same applys here

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Hmmmmmmm, that is a good posting. Whom to trust again. Just that the bad one are far more than the good one, they will promise you heaven and heart before you send goods to them, send it and immediately story started. Not only Nigerian, but the world, it is not a better place again, but at least not everybody are bad, there are still good people out there, just pray that you dont end up biting your finger at the end of the day. At least you alone cannot do it, you will still involve people

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You can't trust just anybody, be it naijan or whatever nationality. Rotten eggs and the like are sure to put one off, but every once in a while u meet someone who u can really trust. I trust my bestfriend and i would do biznezz with her if i was inclined to do business.

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Sure!!! But u gotta be sure the person can handle it. Even from naija to naija in the country. Even whites rip ppl. I've dealt with americanss, indians etc over the internet. Though more ppl form Pakistan will rip u off. I sent $700 to a guy in Philiphines to develop a small software he just disappeared. And there was a time I sent $300 to an American who have with me for over a year. Suddenly ran away with 300bucks and came back with stories.

Its fuckin everywhere. Try russians u get screwed for ever!!! There are many scams being done by russians that ppl think its nigerian.

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I am in Nigeria and i can at least vouch for myself

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Hey! there are many, many honest Nigerians you can do business with, but they fall into the minority.

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Yes i will and i am. Its like anything, anybody can let you down Nigerian or not. contrary to what you think many Nigerians are straight hard working people. YOu just pray you don't get stung by anyone. I feel what Ruescho said about family. It's often a bad idea to involve family in business, very rarely it works, it only works when the business is long standing and family members are brought on boards slowly. Otherwise they the best people to take the piss out of you.

Nothing wrong with doing business with a Nigerian . Just find and pray for a good and honest person. My friend is the best really i trust that woman with many things thats why we work well together. Business partnership is like a marriage, you better be compatible and both not grate on each other, lest it will never work. You both have to have same vision , and motivate each other. Dont know about Men but women i find in business together especially when they are friends is a good partnership

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absolutely! there are good people in nigeria still. That's why i was very careful in choosing my words. But it really comes down to who would you trust with your hard earned money?

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Yes, I will. I'm sure if you look closely into the basket, not all the apples are rotten. Good people still exist in Nigeria.

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