Alibaba: Comedian Narrates How Banks Failed To Support His Money Spinning Dream


Popular comedian, Alibaba, has lamented the horrible culture of not supporting brilliant business ideas by Nigerian banks and the failure of the government to do anything about it.

He also took a swipe at the government for its failure to give adequate support to the Nollywood industry.

“This Nollywood that is now a pride of our country, look back, and what has Government done to help it from the days it was a Cub to now that it’s a young Lion? JUST A SIMPLE PIRACY LAW IS TAKING SO LONG TO PASS. You know why? It doesn’t contribute to votes and they can not share in the money that comes from it.

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“Remember when GEJ mentioned that billions would be given to the sector? All banks and financial institutions started setting up entertainment desks. Just to position themselves to host the funds. After that time, how many of them have you heard talk about funding the entertainment sector? One or two. It was not any different, in 2004 when I approached some banks to fund, my event center.

@officialbunmidavies and I went round and round pitching the event place idea to like 6 banks. They all said NO. Some were even diplomatic. They can see the passion I had, but will keep me posted. Then after all that rigmarole, I finally self funded and #xqzmoi kicked off in 2005… guess who started coming to ask me to come open accounts with them? 3 of those banks that no. I told 2 of them, I said go tell your MD to call me and you will get the account.

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One said she did and the MD said “That Ali is a very smart man. I will call him” he never called me. Met him once and Femi Otedola told him to his face, “Do you remember when Ali told you about the future of event centers and you said you didn’t think it was cool? Shey you see he was right!” This has been the bane of SME businesses. Nobody believes in small beginnings. Let’s repent!”

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Alibaba noted that it was the same attitude that sees the government offer little or no support to young athletes, leaving them to struggle on their own till they get to the top.

“Some investors in Nigeria prefer to watch the foreign Lion King but will not even glance at the Nigerian Cub. Then out of dint of hard work, focus, proper application of dynamics, orchestrated strategies and Gods grace, that Nigerian Cub grows… then the same investors who did not see anything in the CUB will now be making unearned demands on the Cub. That’s the same thing that happens with our sports sector.

We pay no interests to young athletes. They start to grow and when they become Lion Kings… that is when we start to invite them for national assignments. Until we Curb that MO, we will continue to neglect our CUBS. Think about it,” he wrote.

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