As I look at the recently concluded World Cup series I am saddened by the performance of the Super Eagles.
Thread.
Thread.
While many people know of my foray into software development for the country, I seldom talk about other projects I attempted to execute in the country as part of my contribution as a Diaspora who wanted to give back.
A friend in this group called me today to ask & wonder why the 360 degree turn in my attitude towards the country & why I am so embittered. I laughed & said nothing, after careful deliberation, I thought it was time to share more of my experiences while I sojourned in Nigeria.
Criticism of diasporans is completely misplaced. People need to understand the quiet pain and losses we endure for our country.
Once I settled down in 2016 and felt (a false) a sense of security about my investments in Nigeria and the critical development work I was doing...
Once I settled down in 2016 and felt (a false) a sense of security about my investments in Nigeria and the critical development work I was doing...
for the country, I considered another undertaking.
I was angered by the massive number of Nigerians watching European soccer leagues I imagined the economic benefits to Europe and financial losses in foreign revenue, lost jobs to Nigeria.
I approached the Minister of Sports in 2017 through a mutual friend and assured him we could bring soccer to international standard in Nigeria. We could set a healthy minimum salary, (in millions), create over 100,000 direct middle class jobs in the first year, and over 250,000..
indirect middle class and low income jobs.
The minister was dismissive at first, he had been approached with similar offers that never materialized and I understood his skepticism.
The minister was dismissive at first, he had been approached with similar offers that never materialized and I understood his skepticism.
I assured him I don't start anything if I can't finish it. I am a pitbull of sorts when I embark on a project.
I assured him I would bring $1 billion dollars to the game in Nigeria. He practically laughed me out of his office. So I issued him a challenge.
I assured him I would bring $1 billion dollars to the game in Nigeria. He practically laughed me out of his office. So I issued him a challenge.
If I could bring the money to the table would the ministry grant me a license to start a new league in Nigeria.
He looked me up and down as if to size my capacity to deliver, then chose to take me up on my challenge.
He looked me up and down as if to size my capacity to deliver, then chose to take me up on my challenge.
Personally nothing excited me more than a healthy dose of challenge.
I immediately returned to the US. Put a team together. A friend who had played with Atlanta falcons and run a semi-pro football team in Atlanta introduced me to a number of sport agents which led to an...
I immediately returned to the US. Put a team together. A friend who had played with Atlanta falcons and run a semi-pro football team in Atlanta introduced me to a number of sport agents which led to an...
introduction to a major sports management group based in New York. I quickly engaged the group to.put a league and marketing plan together, A $75K project, my team in Atlanta put the business plan together, within 30 days we were armed with a Pitch document.
I went into the sport equity market pitched several equity firms, leveraging my businesses, and I successfully secured a $750m letter of credit (LOC) with terms to draw, subject to the issuance of license promised by the minister.
I returned to Abuja and the minister was presented with LOC. I have never seen a black man turn white before, as he could not believe I had an LOC for $750m. I assured him we will supplement the funding with licensing fee to be issued to 10 club owners at $25ml each which...
would complete the $1bl guaranteed to the minister.
The league will fund $50ml to each team, creating a $75ml escrowed capital to launch each club.
Leaving us with $250ml to develop the league.
We began to test the market for broadcast licensing agreement to fund our LOC payback.
The league will fund $50ml to each team, creating a $75ml escrowed capital to launch each club.
Leaving us with $250ml to develop the league.
We began to test the market for broadcast licensing agreement to fund our LOC payback.
Interest was strong, the numbers made sense.
There are more people watching soccer games in Nigeria on a saturday than in the UK, Germany and France combined. The export market for a Nigeria soccer league games across the globe is mature.
There are more people watching soccer games in Nigeria on a saturday than in the UK, Germany and France combined. The export market for a Nigeria soccer league games across the globe is mature.
There would be little or no distance between us and Brazil if we did things right.
Nigeria was licensing Euro soccer games and exporting foreign exchange, to me reversing that trend was a personal objective.
Nigeria was licensing Euro soccer games and exporting foreign exchange, to me reversing that trend was a personal objective.
We submitted our business and marketing plan to the minister, including the economic impact. He was excited and all on board. The Permanent Secretary to the ministry of sport was on vacation while all these was going on.
The legal department engaged us and an agreement to issue the license was put in place. Negotiation ensued and terms agreed upon. "It's execution time" just needed the Permanent Secretary to return from vacation.
USL (United Soccer League) was about to be a reality.
USL (United Soccer League) was about to be a reality.
We would take over existing federal and state stadiums for 10 clubs and bring them up to international standards with corporate suites.
We were going to leverage first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for a one...
We were going to leverage first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for a one...
year contract or borrow some international stars to help launch the league. The clubs making up the league would have to bid for other known stars in other leagues engaged to join in our first year.
We set our season opposite European season to give us room to grow with minimal competition for our audience.
This was an exciting development for me as things moved along.
This was an exciting development for me as things moved along.
The Permanent Secretary to the ministry returned back from vacation and our discussion on agreement was now on his desk, expecting things to move quickly forward, then came the jolt from all directions.
Suddenly there was talk about buying the existing NFL something I vehemently opposed. You can't take a bad product and wrap it in a new package and expect the audience to buy it.
There is a reason the NFL is not captivating the attention of Nigerians, but we can help it develop, not acquire it.
Also we feared we would run into conflict with existing, compromised structure under the control of entrenched personalities.
Also we feared we would run into conflict with existing, compromised structure under the control of entrenched personalities.
We offered to put $50ml into the NFL to improve it and allow it to feed players into the USL (United Soccer League) which would increase the value of the NFL and we would share stadia with them to improve value of their broadcast license fees.
Not only would we have triggered massive, minor league development across the country, we would have developed local stars to international status, with similar benefits as enjoyed abroad, retirement programs, health coverage, multi million naira contracts, super star statuses.
I remember the introduction to the great Kanu by an assistant to VP Osinbajo and a few other greats in the football space in Nigeria. The excitement was definitely brewing.
I had people working on both sides of the Atlantic working on league rules, marketing, retail licensing, security, trademarks and other intellectual rights.
Then the bomb shell. The Permanent Secretary to the ministry decided to send the agreement to outside party for review.
Then the bomb shell. The Permanent Secretary to the ministry decided to send the agreement to outside party for review.
It was the last I ever saw the agreement. The agreement left the building and never came back. Inquiries after inquiries yielded nothing.
I was disillusioned, I had put my credibility on the line for the LOC.
I was disillusioned, I had put my credibility on the line for the LOC.
I had triggered costly activities at numerous organizations locally in Nigeria and in the United States.
Suddenly I got a call from an unknown number, it was a male voice on the other line.
Suddenly I got a call from an unknown number, it was a male voice on the other line.
Who is this I asked.
Response : Oga it's not important, I just want to tell you that things will go well if you can at least leave 5% of this project for the people at the ministry.
Response : Oga it's not important, I just want to tell you that things will go well if you can at least leave 5% of this project for the people at the ministry.
I was stunned and left speechless for about 60 seconds.
Five percent of $750ml is $37.5million. Where on earth do you hide that in your books and how do you allocate and describe that expense to your investors?
Five percent of $750ml is $37.5million. Where on earth do you hide that in your books and how do you allocate and describe that expense to your investors?
That was the end of my soccer project in Nigeria. I promised I will not participate in corruption in Nigeria and stood by it.
Two years later I completed my primary and robust project for the Nigeria. Tested and approved to launch in 2019.
Two years later I completed my primary and robust project for the Nigeria. Tested and approved to launch in 2019.
Forty five days before the launch date, a demand came forward that could have easily put me on the radar with United States government and in violation of the US foreign corrupt practices act.
I declined.
I declined.
Two weeks before we were to launch the project for Nigeria, I was verbally advised the head honcho has decided to stop the project. He was no longer interested. It was no longer about Nigerians, it was about his personal interest and idiosyncrasies.
The cost to me personally was significant financially, with several million dollars just discarded by head honcho of the government agency. I also lost a network of investors and sustained damaged credibility with one of the largest sports equity funds in the US.
I left Nigeria and promised only to return for family matters only.
Nigeria died inside me.
To all those who want to criticize diasporans, please understand that many of us tried and in many ways failed. You the people, just don't know or hear about the sacrifices we make.
Nigeria died inside me.
To all those who want to criticize diasporans, please understand that many of us tried and in many ways failed. You the people, just don't know or hear about the sacrifices we make.
It's a horror show.
We love our country as much as you do. When you say we are online and just posting and agitating, there are reasons for it.
Nigeria is a crime scene, a burial ground for our investments, life savings and retirement.
We love our country as much as you do. When you say we are online and just posting and agitating, there are reasons for it.
Nigeria is a crime scene, a burial ground for our investments, life savings and retirement.
Stop judging us if you don't know the whole story.
© Culled from a WhatsApp Group Post.
© Culled from a WhatsApp Group Post.
Loading suggestions...