Popular Nigerian music executive Ubi Franklin recently shared his experience with business setbacks this year, emphasizing that “no matter how smart you are, Nigeria can happen to you.” In a candid post on his Instastories, Ubi recounted how two separate business ventures went awry, costing him millions and testing his resilience.
Ubi revealed that he had invested over N89 million into a property intended for his business, leasing it from a man who, unbeknownst to him, co-owned it with his wife. When the wife objected to Ubi’s company using the property, she demanded he vacate it—despite his considerable investment in renovations and setup. The situation left him in a difficult spot, especially with two investors who each put in N10 million demanding their money back.
Determined to press on, Ubi relocated his business to a new property. However, his troubles continued. Shortly after settling into the new space, he received a distressing call from a staff member saying the building was being demolished due to encroachment issues, a legal setback that Ubi hadn’t anticipated.
Reflecting on his turbulent year, Ubi acknowledged that it’s been challenging but expressed hope that he would recover from the losses. He urged business owners in Nigeria to pray against unforeseen obstacles, noting that these challenges can arise from government policies or unreliable staff.
