By Duke of Shomolu
I woke up to screaming headlines – Sujimoto declared wanted by EFCC.
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As a Financial Adviser who has a major client in Real Estate, I didn’t really raise an eyebrow.
Olasijibomi Ogundele
People who are into Real Estate and Construction are in a different class of their own
The challenges are crazy – pricing, erratic nature of Govt policies, market fluctuations etc
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I used to sha wonder what kinds of margins would make human beings who want to live long to be entering that kind of market
So now, my brother and friend not only has taken this market headlong, but has gone to dine with the devil – a state Government.
In credit, working with Government is another line of Risk. They call it Public Sector Risk and I tell you, people avoid it and only go into such gambits with FG Guarantees or any of such strong arm assurances.
Sub National risks which is State Governments is another kettle of fish entirely
Sujimoto whether by youthful exuberance and according to his own admission from the clip i just saw, not only damned the consequences and went to give credit hoping for a better margin on another Project that was still on d drawing board
This state, if rated would be a junk bond but my guy went in and with all his efforts now has EFCC on his neck
My issue isn’t even the transaction but his response which is at best childish and annoying
You wake up to see EFCC notice declaring you wanted which signifies a break down in negotiations cos this didnt happen over night and the first thing you do is to go on social media?
Which kind mumu thing is this na
You put your self on record without a lawyers guidance and you start talking about a transaction that is under investigation?
As if that is not bad enough, you start to cry on the recording.
Mbok how will this help your reputation as a serious businessman who can handle stress?
Is this the end of your life? Why disgrace yourself like this
Are you the first to be declared wanted by EFCC?
Didnt you see that Aisha woman? The monent she was declared wanted, her lawyers kicked in, she negotiated herself into a soft landing, submitted herself and went to court and got bail and finish
She even annoyed Federal Government o and you na one State Govt oo
Please my brother, better stop that crap and surrender yourself to EFCC, its not treason, its a bailable offence.
With good laywers, you are out in 24 hours and then you can now take your case to court or start a serious negotiation with them with a view to arriving at a mutually beneficial settlement
Cases like this abound-Otudeko and First Bank, don settle for instance.
From what I have seen, its a normal thing in this real Estate business where one party feels short changed and wants his money back and you cant pay back cos market has moved and the other party is impatient and runs to authority.
All is negotiation.
Secondly, dont you have spokesmen. A PR team that can handle media and public for you.
Why is a Mogul siting down on a chair and be wailing to the public?
Very unbecoming my brother.
Please stop all these childishness – rush to EFCC, submit yourself, have your lawyers release a statement and have your PR people manage the public while you face your real problems, solving this matter.
You are not the first and you wont be the last.
I dare say that there is nobody onto Real Estate and Construction in Nigeria today that does not have EFCC problem. Its part of the industry.
So if you don’t stop crying and man up , I will look for you myself and come and slap you.
What rubbish.
Duke of Shomolu wrote in from Lagos
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