Returns Market Cooperative Society unveils five new companies to create wealth in south-south
APort Harcourtbased cooperative multipurpose society group that has been making waves in the south-south investment market has unveiled five companies that are expected to create wealth in the region and later in the larger Nigeria. The group, Returns Market Multipurpose Cooperative Society Limited, said they have moved from SouthSouth Beyond Oil to Nigeria Beyond Oil.
This is as the chief executive of the organization, Walter Oyubu, boldly told a full house of eager audience to witness the unveiling at Eliozu area of Port Harcourt that the Returns group has captured and is dominating the Port Harcourt finance market business. He however warned Nigerians against embracing ponzi schemes or high-interest yielding funds.
The five companies unveiled by two officials of the group (Afolabi Femi and Dimabo Enoch Pepple) include Returns Wipe Limited (dealing in transport, city ride, courier services, etc); Returns Security Services Limited (to deal in industrial security services); Returns Housing Limited (to deal in property management, real estate consultancy, real estate development); Returns
Consultancy Limited (to help people manage their funds and create financial intelligence); and Returns Industry Limited (to engage in production of goods such tissue papers, toilet rolls, etc).
In his keynote address, Oyubu, an ex-central Bank of Nigeria (CBN) worker who studied Pure & Applied Mathematics before exploring the world of financial intelligence and business of finance, described Returns Market Cooperative Society Limited as a success story without any problem so far over monthly payment of dividends; no police case, no court case, nothing, he assured.
He also quoted a recent survey that reported that Returns Market has touched between 150,000 and 250,000 lives directly and indirectly so far, saying it was regrettable that without oil operations and politics, the south-south region had nothing else to offer Nigeria.
He made a startling revelation on how some countries such as Switzerland use the finance market to fund public projects. He said they do so by depositing some money that would grow to fund the intended project. He also shocked the audience when he reminded Nigerians how looted funds years back were being returned. He said it is after the money has been sent to the finance market to reproduce itself many times over that they bring a fraction to cover the original amount, something he described as waste of Nigeria’s funds.
He said this explains why Switzerland increased minimum wage to equivalent of N20m per year in the heat of Covid-19 when he said other countries’ economies were shutting down.
Giving his background, Bayelsa-born Oyubu said: “The vision to create wealth through a cooperative funding mechanism started when I met a man, a mentor, Chief Dennis, in my time at the Central Bank of Nigeria (CBN). I specialized in Finance Maths. I am actually very good with the numbers. This man told me, you are very good but you need to understand what finance market is. After some time, I was able to understand how to make money in the finance market. I also got a job in a bank in Lagos but I turned it down because I wanted to come back home. I spent all my life in Lagos and Abuja and I wanted to come home to be a blessing to our people.
“But I needed to understand what we call the business arm of finance. There is a difference between knowing something and the working knowledge of that thing. Some people understand the finance market but they do not understand its working knowledge. So, I decided to work with a company in Lagos to understand how the finance business works. I came back to Port Harcourt after understanding this.
“So, the vision is to see an industrialized south-south which is possible by funding through the finance market. Today as we speak, Returns Market, by the special grace of God, has been able to work with industry experts to set up these industries. We have an individual that partners with us. They have invested their money and have used their proceeds to set up businesses. Some hand over their salary burden to us by investing with us to generate their salaries. One of them has now opened a table water plant, gas plant, tissue paper factory, bakery, and a plastics company. A real estate business is to come.”
He said what makes Lagos tick is not government activity but that the city produces what it consumes especially at Ota in nearby Ogun State. “This is the way Returns Market group wants to partner with our members and investors and corporate bodies and government agencies to move ahead, to industrialise the south-south.
“Many may wonder what has kept Returns Market in business for five years. Not everybody you see today that will learn it and open an outlet and succeed. All those outlets you see are rented and they can go with your money any time. If you want to finance business well, you do it the way I do. I studied it in the CBN for two years and practised it for four years (understanding the workings).