he is a genius boy

Each to their own... $242 million Naija entrepreneurs....

Banco Noroeste S.A. was a Brazilian bank at the centre of the 419 scam, which was described as the "single biggest advanced fee fraud case in the whole world" by the former chairman of Nigeria's Economic and Financial Crimes Commission (EFCC), Alhaji Nuhu Ribadu. Between May 1995 and February 1998, a total of US$242 million was reportedly stolen from the Banco Noroeste S. A. through offshore banks in the Cayman islands. 1 The money was remitted by swift transfers through various banks to accounts controlled by Nigerian nationals, Ikechukwu Christian Anajemba, Emmanuel Odinigwe Nwude, Nzeribe Okoli and Amaka Anajemba (wife of Ikechukwu Christian Anajemba). The authorisation for all the transfers was done by Nelson Tetsuo Sakaguchi, a senior official at the bank. The Nigerians, in a 419 plan, came up with a fake contract to build an airport in Abuja. They promised Nelson Tetsuo Sakaguchi a big commission in exchange for funding the contract.

The fraud was detected in February 1998 while Sakaguchi was on vacation, in the process of auditing carried out in readiness for the intended sale of the Bank Noroeste to Spanish banking group Banco Santander. Inquiry revealed discrepancies in the bank's books, with at least US$242 million missing. Of this sum, US$190 million had been transferred directly to accounts controlled by the Nigerians or through unlawful money changing operations conducted by Naresh Asnani (a British subject of Indian descent resident in Nigeria) and Ezugo Dan Nwandu (a Nigerian businessman resident in Enugu). 2

Following the discoveries, civil actions aiming to recover the money were commenced in Brazil, Switzerland, Hong Kong, the United States of America and in Nigeria. In addition to the civil actions, criminal complaints were laid in Brazil, Switzerland, USA, Hong Kong and Nigeria. 3

The accused persons and companies were charged with obtaining by false pretence $190 million from one of the directors of Banco Noroeste Bank. 4

In prosecution, Nwude and Okoli plead guilty to numerous crimes and forfeited $121.5 million dollars in assets. Anajemba too pleaded guilty and she received a two and half year sentence after agreeing to give back $48.5 million. 5

In July 2002, investigators acting for the bank's shareholders (with the assistance of Dr. Hakim Ukeh - also suspected of participating in the fraud) persuaded Sakaguchi to visit New York, ostensibly for a meeting with the shareholders, where he was arrested on an international warrant issued by the Swiss government and extradited to Switzerland to answer money laundering charges. He admitted involvement in the fraud. 6 In December 2002, Naresh Asnani was arrested in Miami, while en route to a meeting with lawyers acting for the shareholders, on an international warrant issued by the Swiss Government. He was extradited to Switzerland to answer similar charges of money-laundering. On October 31 2003, he too admitted involvement in the fraud

Adanyebe: if you try that in naija u will still remain in the MUD

This is exactly the kind of attitude that keeps people in the MUD!

Start by thinking outside the box. Be objective in your thinking, stop the ethnic and religious bigotry. I also think the educational system needs to be revamped.

abhosts: Happy for Him. I wonder when we would start having deals like this in Nigeria.

haha! Well thats a huge sum of money brova, make that boy be ur bro wet.in u go do am.

What a great feet to attain, wow! I will get there very soon.

I love this

Some so called 'well paid IT specialist' would later say it is impossible, that the boy cheated. So far none cha, buh i dey wait am eyes wide.

[size=30pt] YES!!! HE MADE IT [/size]

An Update to this Story:

http://www.npr.org/blogs/alltechconsidered/2013/03/26/175377617/after-yahoo-acquires-summly-is-buying-math-the-next-tech-bubble

Read and understand more about this deal. It appears yahoo was going for the algorithm behind this app.

Some food for thought. Great for him, Smart Kid.

wow! that is great.

Blackteeth: 17 year old guy. Most young people at that age in Nigeria are only hell bent on obtaining 9 As in ssce.

When I was 17, I was focused on obtaining 1 A followed by 2 Ss.

Wow! This is commendable and should be emulated.

We all can do something like this. It doesn't depend on the country or people in the neighborhood. All you need is to Have The Desire and Take DETERMINED action until you get there.

You will have a lot of challenges but if you NEVER GIVE UP, you will get there.

WILL you be willing to PUT IN YOUR LIFE to make your idea work?
It depends on how determined you are. You might fall you but if you always rise up and continue, you will get there.

PGON: ....... $30.....

Where is the market in Nigeria.

We need to call attention .....

working on something anyway...

you too can sell to yahoo,facebook and all the big companies you hear about. You don't have to wait for any market in Nigeria,you don't need any body's attention just workout any thing good.

Nice stuff, the white man wants to rule the world. That's why they have good educational system, protect and showcase the ideas of young people and hide the reports of those who failed over and over again. Its called national security and interest.

Pls fellow Nigerians, we shouldn't be here quarreling or debating on this, what we should be doing right now is think, meditate, think, brainstorm, research and find ways to improve on programming skills.

I just wish everyday that I could write expert programmes and algorithym cos I have three smart ideas that would sell internationally if put in the form of application, but no programming skill, and can't find any with such high skill in programming.

I really wish I could find a honest, expert and open-minded programmer good in developing applications and algorithyms so we could work together and make sth wonderful. If u are one, come forth pls.

@dailynews, there are free tutorials online. Don't wait for someone

This is what happens when you have men with ideas who encourage younger minds to develop their thinking capacities, and provide an environment where such talents can be marketed and utilised.
Africa will always remain a third world economy until we have people with brains managing the talents and resourcefulness of this generation of youths.

nice thing

Nice one bro!
While some ppl are down here priding themselves as 'educationally less advantaged' ,the world is developing at a fast pace.
I hope by d time we wake up, we shld be kind enough nt to blame it on ; slave trade, colonialism, neo-colonialism ,stockholm syndrome(wateva dat is) , IMF nd world bank! I hope we shall be bold enough to look ourselves in d eye and tell ourselves d truth.

Frosti: They should talk about all the failed ideas that never maid the news.

They won't because you can not maid it in your misery.

[quote author=abhosts]Happy for Him. I wonder when we would start having deals like this in Nigeria.[/quot
e]
Nigeria got talent like that but who will sponsor?

wow am impressed, this is great

ajos: small boy don hammer cool cash....many yahoo yahoo guys no fit get dis kind idea,na to dey scam people mumu people theif their cash....i feel u kidbro....
ALL TALENTS ARE NOT EQUAL....

Tell those loosers

jmoore: @dailynews, there are free tutorials online. Don't wait for someone

Thanks Jmoore, but I am too occupied to start from scratch to learn programming join with loads of things I have at hand already...anyway, thanks for the tip

Blackteeth: 17 year old guy. Most young people at that age in Nigeria are only hell bent on obtaining 9 As in ssce.

Hell yeah!

Orikinla: The boy sold it cheap.
Google would have paid more for it.

Are you a learner
Are you Google's Spokesman?

niyoni: I just watched d guy on CNN. Wow! Very nice!! Thats d developed world for u- they support brilliant ideas and reward genius! Back in Africa, they wuld either kill d young inventor, kill his dream or steal his idea. At best, they wuld offer him a price far below d worth of his invention! My advice to young Nigerian inventors is dis- b smart, b fast, n keep ur dreams secret until u meet d right person/people! Word!!

Stop blaming the world for anything. The boy saw a problem.. and proferred solutions to it and somehow along the line, it attracted worthy investors and someone decided to buy into it. If you like keep dreams secret or on loud speaker, dreams are like spirits, they move from person to person. The price of your investion is the price you put on it by yourself, I don't remember anyone holding a gun to his neck.... You will be surprised the number of people thinking of exactly what you had in mind. Facebook for example was not an entirely unique idea... go figure

yawa-ti-de:
This is what we should be doing o! No be to dey charge N5K for website. Something unique. No borrow-borrow...no copy-copy

http://www.reuters.com/article/2013/03/26/us-yahoo-summly-daloisio-profile-idUSBRE92P01C20130326

THIS LAD IS A TRENDSETTER.
I doff ma skull 4 u!
[X-INV]

HectorTroy: See small boys o....and I m just sitting here jerking off.

eeyaah...sorry, u too bera start doing something tangible...

Lovely idea!!

I love it when good tech strt ups get funding. Just like www.kaymu.com.ng. It brings buyers and sellers together. If you can sell it, u can probably find it there. and its free to register and set-up shop too!