With the level of things happening in the Country already;
"Can a Legit hustling Nigerian make it 'Big' without involving in Fraud?"



-Ordinary to register for NIN.. you'll settle (bribe).
-Police.. you'll bribe
-CAC...you'll bribe
-Employment... you'll bribe
-Driving licence.. you'll bribe
-Any small government contract/matters, you'll have to bribe.

So,can it be possible to make it big in this Country as it is now without being Fraudulent?
If Yes' How?

Some of us will like to know pls.

It’s not exclusive to Nigeria. Nobody in any Country can make big bucks through playing fair game. Fraud takes on a lot of forms:
1. Insider trading
2. Hostile takeover
3. Internet crime
4. Blackmail
5. Government-sponsored monopoly.

Look around you, you don’t make big money by playing in the “moral” box - in any society/ company/ government. You need to step out of the box

It is not possible in Nigeria to make it big without being fraudulent. Nigeria don condemn, for u to even de live average life u must de cut corners.

AllKnowing:
It’s not exclusive to Nigeria. Nobody in any venture can make big bucks through playing fair game. Fraud takes on a lot of forms:
1. Insider trading
2. Hostile takeover
3. Internet crime
4. Blackmail
5. Government-sponsored monopoly.

Look around you, you don’t make money by playing in the “moral” box - in any society/ company/ government. You need to step out of the box

Not true Oga. There are so many countries where bribe giving or taking is a serious crime, if u are caught, ur own don finish be that no matter how highly placed. Even Job racketeering is a serious crime in those countries, such that if employment is done on the basis of 'man know man' na serious offence whether na for privately owned or government owned establishment. They ensure that the right person gets the job and not because u know some body at high places.

rtdCivilservant:

Not true Oga. There are so many countries where bribe giving or taking is a serious crime, if u are caught, ur own don finish be that no matter how highly placed. Even Job racketeering is a serious crime in those countries, such that if employment is done on the basis of 'man know man' na serious offence whether na for privately owned or government owned establishment. They ensure that the right person gets the job and not because u know some body at high places.

Topic: Can a legit hustler make it “big”?

AllKnowing:


Topic: Can a legit hustler make it “big”?

Topic: Can a legit hustling NIGERIA make it big without involving in fraud? The Op was trying to say it is almost impossible to make it big legitimately in Nigeria, but u quoted by saying it is not only exclusive to Nigeria, meaning u cannot make it big legitimately anywhere.

Nothing great comes without one deciding to play in the gray areas. How deep you go is left for one's judgement.

Nasir123:
With the level of things happening in the Country already;
"Can a Legit hustling Nigerian make it 'Big' without involving in Fraud?"



-Ordinary to register for NIN.. you'll settle (bribe).
-Police.. you'll bribe
-CAC...you'll bribe
-Employment... you'll bribe
-Driving licence.. you'll bribe
-Any small government contract/matters, you'll have to bribe.

So,can it be possible to make it big in this Country as it is now without being Fraudulent?
If Yes' How?

Some of us will like to know pls.

very challenging bro,i know how the game is ,but due to personal reasons ,i dont want to tow that part.

honestly, this is wrong

rtdCivilservant:

Topic: Can a legit hustling NIGERIA make it big without involving in fraud? The Op was trying to say it is almost impossible to make it big legitimately in Nigeria, but u quoted by saying it is not only exclusive to Nigeria, meaning u cannot make it big legitimately anywhere.

You absolutely cannot! If you like earn $300,000 before taxes per year it’ll leave same way via bills and mortgage payments unless you decide to “fraudulently keep some or make more”

AllKnowing:


You absolutely cannot! If you like earn $300,000 before taxes per year it’ll leave same way via bills and mortgage payments unless you decide to “fraudulently keep some or make more”

The most wealthy people anywhere do not lack anything but integrity. It is almost impossible to "make it big" as a honest individual, however, dishonesty does not amount to fraudulent practices. There are practices that are not fraudulent but cheat the system.

In developed countries, Billionaires spend quality time with investment bankers and legal practitioners to invent ways of cheating the system without breaking the law. These professionals guide them to manipulate the system within the law. For instance, the professionals could formulate a framework for reserving revenue at Tax Havens without breaking money laundering or tax laws.

A typical example is tax evasion by Billionaires. If Elon Musks needs 1 billion dollars for a personal project, all he needs to do is to sell some of his shares worth that amount. However, he will be charged 10% tax which is the tax rate for sale of shares that is entered as personal revenue/income. Instead of selling 1 billion dollars worth of shares, Elon Musk would rather use his share certificates and other documents to borrow $1 billion dollars from a bank with interest rate of 3.5% per annum. Tax is not charged for loans.

Elon Musk gets $1 billion to return $1.06 billion after two years and keeps his shares that may be sold for twice the current price next week instead of receiving $900 million after tax reduction and losing some shares that may become as twice as valuable next week.

Elon Musk has evaded tax through this strategy after the bank credits him with $1 billion but he has not done anything fraudulent. He's only exploited a lacuna in American Law. That's how it works.

This is what I call negativism. You take a negative view of life and only tend to see obstacles and excuses for failure.

Yes things are bad, but you make it worse that it actually is. lots of people are still making it legitimately.

Please read Vincent Norman Pearl's book "The Power of Positive Thinking" to change your outlook towards life.

Nasir123:
With the level of things happening in the Country already;
"Can a Legit hustling Nigerian make it 'Big' without involving in Fraud?"

Many many people make it without involving in fraud. I have 2 legitimate businesses and have never been involved with fraud. My wife owns an eatery business and have never been involved with fraud.

[b] -[s]Ordinary to register for NIN.. you'll settle (bribe).[/s]

I registered for NIN without settling anyone. All the people I know registered for NIN without bribing anyone. You would need to bribe if you want the NIN urgently and want to bypass the system.

-Police.. you'll bribe

Agreed. But if you have the time to waste and money to spend on lawyers, you might not need to bribe the police.

-CAC...you'll bribe

Why will you need to bribe CAC, when you can do all your company registration online without interacting with any CAC official.

-Employment... you'll bribe

It depends on the type of jobs and your skills or qualifications. There are some jobs that require certain skillsets and qualifications that the employers are even the ones that will bribe you to work for them.

-Driving licence.. you'll bribe

Why will you bribe to obtain your drivers license? The reason you pay more than the official price is because agents are involved most times and because you want it done faster. The official waiting period is up to 3 months.

-Any small government contract/matters, you'll have to bribe. [/b]

Yes all governments are corrupt. Anyone who is not prepared to be corrupt or corrupted should avoid government contracts.

So,can it be possible to make it big in this Country as it is now without being Fraudulent?
If Yes' How?

Some of us will like to know pls.

So many people make it big without stepping a foot out of nigeria. In fact many people fail abroad and come back to Nigeria and succeeded. I know someone that did not make it in the UK after 10 years, he came back into this country and started selling okrika. Today he is worth billions in dollars.

Iykoto86:
very challenging bro,i know how the game is ,but due to personal reasons ,i dont want to tow that part.

Yeah
True

wirinet:
This is what I call negativism. You take a negative view of life and only tend to see obstacles and excuses for failure.

Yes things are bad, but you make it worse that it actually is. lots of people are still making it legitimately.

Please read Vincent Norman Pearl's book "The Power of Positive Thinking" to change your outlook towards life.


Many many people make it without involving in fraud. I have 2 legitimate businesses and have never been involved with fraud. My wife owns an eatery business and have never been involved with fraud.


I registered for NIN without settling anyone. All the people I know registered for NIN without bribing anyone. You would need to bribe if you want the NIN urgently and want to bypass the system.


Agreed. But if you have the time to waste and money to spend on lawyers, you might not need to bribe the police.


Why will you need to bribe CAC, when you can do all your company registration online without interacting with any CAC official.


It depends on the type of jobs and your skills or qualifications. There are some jobs that require certain skillsets and qualifications that the employers are even the ones that will bribe you to work for them.

Why will you bribe to obtain your drivers license? The reason you pay more than the official price is because agents are involved most times and because you want it done faster. The official waiting period is up to 3 months.

Yes all governments are corrupt. Anyone who is not prepared to be corrupt or corrupted should avoid government contracts.


So many people make it big without stepping a foot out of nigeria. In fact many people fail abroad and come back to Nigeria and succeeded. I know someone that did not make it in the UK after 10 years, he came back into this country and started selling okrika. Today he is worth billions in dollars.

I will agree with you to some extent.

But let me say this, I'm not talking about just to own a House,2 cars or owning some small businesses. I'm taking about a bigger aspirations. A Machant. A great Investor.

Looking at the behavior of our Banks,telecomunication industries for instance...


Interms of the CAC/Drivers license you alighted,it will interest you to know that something that's suppose to take 1 month maximum ,may take up to six months if you decide not to settle anyone. Except if you're in Lagos or Abuja I presume. .

One thing is very clear. This Attitudes in our system kills small businesses and Drive even before they mature. So how do you do it especially if you do not have any external support?

Don't forget they're other challenges like power, security etc you must face and settle on your own wich we are not talking about here.. So how do you do it?

I personally believes in Legit. Infact I detest Fraud. But how do u do it when even your government is fully into it with all their activities purpose in the system?

ETHICALLYrlght:


The most wealthy people anywhere do not lack anything but integrity. It is almost impossible to "make it big" as a honest individual, however, dishonesty does not amount to fraudulent practices. There are practices that are not fraudulent but cheat the system.

In developed countries, Billionaires spend quality time with investment bankers and legal practitioners to invent ways of cheating the system without breaking the law. These professionals guide them to manipulate the system within the law. For instance, the professionals could formulate a framework for reserving revenue at Tax Havens without breaking money laundering or tax laws.

A typical example is tax evasion by Billionaires. If Elon Musks needs 1 billion dollars for a personal project, all he needs to do is to sell some of his shares worth that amount. However, he will be charged 10% tax which is the tax rate for sale of shares that is entered as personal revenue/income. Instead of selling 1 billion dollars worth of shares, Elon Musk would rather use his share certificates and other documents to borrow $1 billion dollars from a bank with interest rate of 3.5% per annum. Tax is not charged for loans.

Elon Musk gets $1 billion to return $1.06 billion after two years and keeps his shares that may be sold for twice the current price next week instead of receiving $900 million after tax reduction and losing some shares that may become as twice as valuable next week.

Elon Musk has evaded tax through this strategy after the bank credits him with $1 billion but he has not done anything fraudulent. He's only exploited a lacuna in American Law. That's how it works.

You’re too wise! In my opening comment I listed these too. Fraud comes in a lot of forms

By God Grace.

It depends on whatsoever the person is doing and how he/she is applying knowledge to it.

There are some jobs that are bring average income and some that bring big income.

ETHICALLYrlght:


The most wealthy people anywhere do not lack anything but integrity. It is almost impossible to "make it big" as a honest individual, however, dishonesty does not amount to fraudulent practices. There are practices that are not fraudulent but cheat the system.

In developed countries, Billionaires spend quality time with investment bankers and legal practitioners to invent ways of cheating the system without breaking the law. These professionals guide them to manipulate the system within the law. For instance, the professionals could formulate a framework for reserving revenue at Tax Havens without breaking money laundering or tax laws.

A typical example is tax evasion by Billionaires. If Elon Musks needs 1 billion dollars for a personal project, all he needs to do is to sell some of his shares worth that amount. However, he will be charged 10% tax which is the tax rate for sale of shares that is entered as personal revenue/income. Instead of selling 1 billion dollars worth of shares, Elon Musk would rather use his share certificates and other documents to borrow $1 billion dollars from a bank with interest rate of 3.5% per annum. Tax is not charged for loans.

Elon Musk gets $1 billion to return $1.06 billion after two years and keeps his shares that may be sold for twice the current price next week instead of receiving $900 million after tax reduction and losing some shares that may become as twice as valuable next week.

Elon Musk has evaded tax through this strategy after the bank credits him with $1 billion but he has not done anything fraudulent. He's only exploited a lacuna in American Law. That's how it works.

This guy knows his onions and writes very well. Definitely a lawyer with at least 7 yrs experience.