By Chukwudi Iwuchukwu
I really like Obi Cubana as a person, but whoever it is that advised him to go public with this crowdfunding appeal for his Keke business hates him and is setting him up to fail.
Let me explain why
Obinna Cubana and the guy who owns the enviable Keke are both Agba ballers who are living a glamorous and jet-set lifestyle.
Have you seen their convoy and the kind of cars they both use?
The enviable guy is driving a 2022 G-Waggon.
Dangote, with his wealth, does not use the kind of luxury cars that Obi Cubana and this guy use.
Just the other time, we saw a viral video of the two of them gifting Jowi Zaza’s sister 2.5 million at her wedding over the weekend.
With all this opulent lifestyle, Obi Cubana thought it was ok and wise for the public to invest in a business that is not structured that the two of them who are agba ballers are running.
More or less, Chinmark 2.0
If I were to be an investor, I would be thinking
So you want to collect my money to fund your colourful Agba baller lifestyle?
No way!
The optics are not good for him, and I believe he should have sought professional advice before doing this to himself and his brand.
Beside
You can’t just wake up and come out to start crowdfunding funds from the public without SEC approval.
The SEC will come after you with everything they have because he just committed a crime.
The same thing that Obi Cubana did today is the same thing that influencers who promoted Chinmark did many years ago.
We see how it ended for them.
The important question we should be asking is this:
What is the financial state of the Enviable Group?
How much was their revenue last year?
What of their half-year financial result this year?
Who are the board of directors of Enviable Group?
Where is the board resolution and then SEC approval for what Obi Cubana did today?
When Obi wanted to start Odogwu bitters, he met Fidelity Bank, which gave him a 2 billion naira loan to start the business, which was widely successful.
Why not go back to Fidelity Bank this time around?
Why openly endorsing a Ponzi business?
I have a soft spot for Obi Cubana; we went to the same secondary school in Onitsha, DMGS.
We are both DMGS old boys, and this is the more reason I want him to scale.
I was happy when he became famous after his mother’s burial; I was proud that one of us was now a household brand, but what he had been doing since that time is more or less mismanaging the social capital he got from that burial in a terrible way.
I was speaking to one of my Oga’s close to Obi Cubana over the weekend, and I expressed the same sentiment.
Obi Cubana is mismanaging his brand and his social capital, and he needs our help at this point before he further self-destructs.
