NIGERIA:MARCOPOLO S.A. GROUP OF BRAZIL MOVES N10BILLION WORTH OF ASSETS TO MAURITIUS

NIGERIA:MARCOPOLO S.A. GROUP OF BRAZIL

 MOVES N10BILLION WORTH OF ASSETS TO MAURITIUS

BY ABDULMUMINI ADEKU[WORLD EXCUSIVE]

  

MARCOPOLO S.A .GROUP OF BRAZIL ARE KNOWN FOR BUS MAKING WORLDWIDE

Bus maker,Marcopolo S.A. Group of Brazil  were as at press time said to have suddenly pulled the plug on an investment drive to Nigeria and has now headed to the Indian ocean island or archipelago of Mauritius.

In a world exclusive chat with The News office Desk of Paedia Express Multimedia Group in Lagos,Nigeria,a key Nigerian financial and investment strategist who is great friends with this reporter and who was at the heart of the deal with the automaker said that he had to tell his Latin American Associates not to bother coming to Nigeria presently as the business climate was highly uncertain.

He revealed that good business can only be achieved where the climate was right but that due to the level of fraud being perpetrated in the Nigerian financial system at the moment  he could not guarantee anyone to come into the nation and put in his money for any form of business as his own name was going to be on the line for such a venture.

According to him ,the entire worth of the investments was put at about N10billion.

His words:"if they had come into the country,they will have built a sugar refining  plant ,a petro-chemical plant and at least two major ranches in this country but when i was asked to give my candid opinion on the matter i told them that i could not guarantee  the safety of their assets"

"Do you know that i know of a European Bank that told me that they cannot do any type of business with any Nigerian bank due to scams and that they have even blacklisted Nigeria so the situation is really bad"

"i can collect financial instruments of not less than $50million from any major bank in the world but i can assure you that no Nigerian bank have the capacity to give the same instrument to me in the same foreign exchange capacity"he lamented..

The source pointed out that if the Central Bank of Nigeria [C.B.N.]does not do something pretty fast on the quality of its regulations such huge tranche of investments portfolio will continue to elude the nation .

The source added that the group will have employed as much as 30,000 Nigerians in their plant which they wanted to establish in between Oshun and Oyo state.

Though Marcopolo S.A.of Brazil are known for bus making but their presence in Nigeria would have seen them divesting from the area of their core competence.