ILE-IYAN SAGA: THE TRUE STORY

In any dispute, there are always two sides to the story, just as with the case of Ile-Iyan Nigeria Limited and its pounded yam business. Ile-Iyan Nigeria Limited was co-founded by Sheriff Sanni (also known as SanniKayz), along with two initial investors who contributed N10,000,000 and N5, 000,000 respectively Within six months, the relationship deteriorated, prompting the investors to seek a refund and exit the arrangement.

Lacking the funds to repay the investors, and with the business facing financial ruin, Sheriff had to look for new financing options. He chose to bring in another investor rather than take out a loan. Sheriff approached Musty, seeking to leverage on his team’s financial capabilities as well as decades of expertise in the food and hospitality business. Musty only agreed to come on as a partner, not as an investor after several persuasion from Sheriff.

At this point, it is instructive to note that Musty and his TEAM were in the process of starting a restaurant business and had secured its outlet at Ikeja prior to being approached by Sheriff in October 2023 to partner in the business.

After multiple appeals and pleas by Sheriff, Musty's company, through its subsidiary Peaceful Oasis Destination Limited (PODS), invested N80,000,000 (Eighty Million Naira) in the venture. Please understand that while the initial investor held 40% equity for N10,000,000 investment, Musty(PODS) agreed to 30% equity for their larger investment, leaving Sheriff with a 70% majority stake. In addition, Sheriff was left in charge of company finances for the Ile-Iyan outlets. A very fair deal.

To support expansion of the business situate at Lekki, Musty provided its Ikeja GRA outlet. However, days after opening Ile-Iyan Ikeja, Sheriff gave Musty a 3 day notice of his intention to japa, and on 18th January, 2024, Sheriff relocated to Canada with his family, leaving behind an underperforming Lekki and the new Ikeja outlet.

In order to salvage the situation, with its hospitality experience, Musty(PODS) took over management, and despite challenges, the Ikeja outlet became profitable, surpassing the Lekki outlet which became profitable for the first time. PODS charged a separate management fee for this since it now had to commit its employees to managing the outlet (note that this management fee was inclusive of Sheriff’s salary of N1,400,000, as well as his brother’s salary which Sheriff had increased to N400, 000 monthly for popping into the Lekki branch from time to time - ensuring Sheriff had another eye in operations of the business).

It was also agreed that a separation between finance and operations was going to take place. Sheriff, having relocated from the country to Canada would deal with finance and PODs would operate the company. Part of that agreement meant PODS would keep Sheriff’s  key staff in both branches for adequate checks and balances. Paulina Legba was kept as the manager(Olori) of the Ikeja outlet while Sheriff' brother, Afeez Sanni was in charge of the Lekki branch, apart from a host of staff.

It is also necessary to note that in December 2023, a month after investing into the business, Sheriff claimed profitability in the Lekki branch. PODS asked for an audit which Sheriff dodged, he came up with some figures and shared the funds. The initial amount was used by Musty to pay PODs hospitality management fee  in January of 2024 as it did not charge Ile-Iyan Nigeria Limited for its services which include procurement, cost control, daily financial reporting, operational management and other costs incurred. After coming on board, PODS discovered so many unpaid and undisclosed debts to vendors at the Lekki branch  which were paid and settled by PODS, out of its own pockets and separate from its investment in the company. Eventually, the initial amount invested surpassed the agreed N80m and became N91m (without the rent paid for Ikeja branch by Musty) as PODS had to purchase generators for the Ikeja outlet as well as payout the debt of Lekki branch to suppliers.

Sheriff, facing financial strain in Canada and controlling the company's finances, requested profit distributions in the first quarter, taking home N17,000,000 (Seventeen Million Naira). He also suggested cutting costs by using cheaper, lower-quality tomatoes “Esha” and goat meat. Despite resistance from PODS, these changes were implemented, leading to customer complaints about the Ikeja outlet. It was then discovered that this was an act of sabotage. The low-quality ingredients were only supplied to the Ikeja outlet between Sheriff and Paulina Legba(Olori). It was also discovered that Sheriff made payments for supposed items without following the due process put in place by the operational management team.

Before PODS' investment, employee conditions were poor, with staff sleeping on restaurant floors, a situation which posed a hygiene risk to the outlets as well as a security risk to staff. PODS insisted on improving living conditions, leasing a property in Victoria Island to house Lekki Staff members, and housing Ikeja employees in Ikeja GRA.

However, the Ikeja property was soon lost due to misuse. Sheriff viewed these improvements as an unnecessary expense and made a suggestion to distribute a portion of profits to employees as motivation, namely service charge as is accustomed to the hospitality industry. Sheriff, however, proposed only a monthly N20,000 reward for the best employee, which he enforced.

It was also soon discovered that Sheriff was reluctant to comply with local laws as well as HSE requirements and saw PODS efforts to run the business ethically as a waste. The following were discovered to be the state of affairs prior to PODS involvement in Ile-Iyan Nigeria Limited;

·        Food handler’s test - Never in place till PODS came into the business. Some employees in the business were found to have HBV and HCV.

·        Accommodation for staff in both branches was introduced by PODS, who insisted that no staff would sleep inside the restaurant because it may lead to a disease outbreak, which will endanger customers and a security risk for staff.

·        Trainings were never carried out for staff until PODS came onboard

·        Employee Welfare: Prior to PODS coming on board, employees were poorly paid and given only one day off a week. Employees were subjected to work 14-16hrs a day with no overtime pay, which was against local labour law. PODS introduced shifts to ensure all employees stay within the 8 working hours and get their mandatory 2 days off. PODS agreed to allocate N2,000, 000 to staff meals every month in order to ensure the business is run properly as staff were previously eating guest meals, which became a huge issue for the business’ profit.

·        So many creditors needed to be settled

In the spirit of good faith and to ensure smooth running of the business PODS had been convinced by Sheriff to ensure that Sheriff was given the mandate to manage the company funds across its various accounts, believing that same would always be utilized in the best interests of the Company. PODS had always maintained its belief in Sheriff’s integrity until sometime in April 2024, when PODS discovered that Sheriff had been defrauding the company and had been utilising company funds for his personal use whilst also making unexplainable petty cash disbursements without consultation or approval of PODS or its nominee director in Ile-Iyan Nigeria Limited.

I love this movie so I'm going to do a review.

Firstly, I was impressed when I saw it was a Metro Goldwyn Mayer movie. I had to check again that I played the right movie. There was a fine selection of British-Nigerian cast led by Wale Ojo, Genoveva Umeh and Eku-Edewor. 10/10 Chimezie Imo (Elijah) put on an impressive lead performance and his relationship with Genoveva (Anna) makes one crave for Pre-Independence affection when love was real.

The cinematography and direction was excellent and the story line was great. You should see it.

My Fellow Ashawo and Lovers

Don't say I did nothing for you. You now have the full transcript.

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31. Chat from 4 different married women with kids





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If Blacks did not have white slaves, it because we could not conquer them, not because we were moralists with good virtues and respect for human rights.

We were savages and cruel as everyone else. Survival don't care about morality and man was in a state of nature. We were killers and slave masters. We buried people alive, fed them to animals, burnt people alive, sacrificed them to gods made of woods and stone. We burnt villages, drank wine from the skull of the conquered and enslaved millions.

The only reason some of you want to make money is to be disrespectful to your partner. Your definition of being yourself and living your best life is having no morals or values.

Tomorrow, you'll swear men are threathened by successful women. But everyday, you make it known that you will not respect a man you're more successful than. The problem is not success. You're just a fool.

Privileges blind because it is the nature of privileges to blind.
- Chimamanda Adichie

You need to learn how to get a hold of money.

Years ago, during my Masters program, I took a course on Feminism and its influence in International Law.

When I walked into the class, everyone turned. The lecturer said I was the first guy that had taken her course.

Stay with me. I'm going somewhere with this. Over the next few months of lectures, we studied, researched and had feminist discourse. Before every class, everone researched a feminist issue and then we take time to discuss them.

There were books nd materials written by feminists from Europe to America to Africa to Asia.

You're not a fool for not being woke. Most of the world have gone mad. Stay on the side of sanity.

Don't lose yourself to the world.

Men are Men. Women are women. Trust in God. Humanity should prevail over anything. Respect your parents. Family values is supreme. Teach your kids Godliness and Humanity.

You're not a victim, there is no glory in victimhood. Stop absorbing ideologies that compels you to see yourself as a victim.

Divorce is not a testimony. Love your partner as you love yourself.

It actually isn't. Per my social experiment, men who say that are not actually making consultation but seeking permission.

What they say: Let me ask my wife

What they mean: Let me see if Madam allows me

Also, many times, they don't actually ask. It is a weak get away card.

https://twitter.com/Themichaelllll/status/1667482535515811848

"Let me ask my wife" on Twitter is from the school of "Happy wife, Happy Home." It has nothing to do with respect. But it is good for the impressionable "awnnners"

The whole point of Leadership is that you're trusted to lead and make decision in the best interest of your house.

It is strictly a personality issue. There are people that didn't leave home till NYSC and they don't call their parents. We need to stop assuming everyone has love at home or love their parents.

Also, it is okay to admit you have a communication problem.

https://twitter.com/Wizarab10/status/1667433954838814721

But then, if you talk to everyone one else on the phone except your parents, you don't have a communication problem. You have a problem with your parents.

Communication problem is supposed to have general effect. Do you call your siblings, friends?

She has good sense of humour and I think both partners understand each other that is why she can joke about him being lucky he is in her list of daily consideration.

As light hearted as that part is, it is weighty and often lead to divorce. I'll explain. Ride with me

https://twitter.com/DAMIADENUGA/status/1666138721509310466

The higher you climb in your career, the less available you become to your family. It is why everyone needs an understanding partner. It is not just understanding you but one that understands the burden of success.

Without mincing words - they won't have your time as you crave.

A lady once asked me if it was okay to give her man money because he needed financial assistance. She was asking because she genuinely thought Men are the ones to give to Women and not the other way round.

To buttress her point, she had never seen her dad collect money from mom. I had to start explaining to her how love works. The primary element of love is giving.

For God so love the world that HE GAVE.

You cannot love without giving. If love to tou is receiving, you do not love the person.

The only proof of love is giving.

If you're not receiving, you're not loved. Don't make excuse for any woman. I'm not talking only birthday gifts because you're expected to give regularly. If she says you have to deserve it, you're not loved. Being her man is enough reason.

https://twitter.com/michaelx_tdp/status/1666350560721682433

To love is to give love and to receive love.
- Chimamanda Adichie

Love is a 2 ways street. You love by giving. They love you by giving. Everyone has to constantly love by giving - their money, their body, their time, their heart, gifts, emotion among others.

It is always funny everytime a woman richer than her gentleman caller is rejecting him on that ground and women start saying "he doesn't want to level up"

Did you help him level up and he blew it or offered to help and he rejected it?

That is what men do for you. Is levelling up magic? You people sound like he has to snap his finger and become richer than you.

Those whose palm kernels were cracked for them by a benevolent spirit should not forget to be humble.
- Chinua Achebe

If ypur life is fine and you enter a toxic relationship, you lose your light. When you step out of such toxicity, per your decision, you find your way back into the light having shed the opulence of the toxic relationship.

Break up does not have an original glow.

https://twitter.com/ComfortEnesi/status/1665726494075678720

Similarly, if your life is bleak, a beautiful relationship can bring you into the light and you begin to glow. Good life, good sex, good companionship, peaceful and loving relationship can do a lot of good.

Again - Break up and divorce have no original glow.

I don't think people understand how difficult it is to divorce when you're excelling. Many start looking up to you in career and marriage.

Being married with kids gives you an edge for senior promotions because it shows stability. You'll be invited to conferences to talk about excellence in career and marriage. If your marriage is toxic, you'll learn how to keep up appearances.

Everyone knows you as the man or woman who is strong and has it all together. They need your strength to thrive.

Forcing kids to write with their right hands or do everything with it, is extreme and has zero connection with not presenting something to an elder with the left hand.

The latter is cultural. Unless, you're a miserable liar, it is not rocket science to pass phone with right hand You can question what respect is in any culture. Why do people bow in Korea? If you get verbal thank you, if you like don't answer. Why is the thumb up, offensive in some cultures? it is just a finger sign. Why is the peace sign offensive in some places? Cut off the fingers then.

This is why I'm most grateful for my power of thought. Women are very conscious of their body and insecure about every change that they begin to apologize for natural occurrences because they fear it would affect how you see them with consciousness of what other women look like.

https://twitter.com/ola_adebari/status/1652290521144909824

Stretch marks - she wants to turn off the light because she is embarrassed.

Stomach - she apologies for not having a flat stomach

Figure - very conscious she is adding weight even when she isn't and fears you're noticing it.

On SM - scout for her interest. Example, she like Johnny Drille

"This guy is good and even better in person. You would love the experience. I have a ticket for 2 if that isn't an inconvenience. Do you mind?"

https://twitter.com/SamuelOtigba/status/1647601032296386560

At a party, event or any social gathering.

"Excuse me, I'm sorry to bother the most beautiful woman in Lagos. I couldn't see the stage over the glow of your skin. (she would smile unless she is a witch)

Would you mind sharing your skincare secret over dinner sometime next week?