News
PINCOOP Boss Seeks Equal Opportunities For Real Estate Investors
Founder, Paradise Investment Network Cooperative (PINCOOP), Mrs Christy Kanu, yesterday advocated equal opporunities for real estate investors,irrespective of status or income level.
She made the call in Lagos during the inauguration of Paradise Investment Network Cooperative (PINCOOP), a real estate cooperative society.
Kanu, who is also General Managing Director of Paradise International Holdings, said PINCOOP would impact lives as it was set to change the narrative in the real estate sector.
She said the inauguration was borne out of her inability to invest in developed properties at choice areas, years back, as that was almost impossible to afford for a low income earner.
“It’s like a situation whereby the rich gets richer and the poor gets just the crumbs, because I had my money and I went into the real estate market and I found out that I couldn’t invest in some developed property in prime locations.
“I was just left with properties in the outskirts of the city, but i wanted to own a property through which I could generate cash flow, through which I could at least get rental returns yearly,
“But it was not possible because the rates were very high.I wanted developed property that would give good rental income and capital appreciation. It was almost impossible and I thought that wasn’t fair.
“The cost was high because of inflation and rising cost of building materials. So basically, I thought about it and I said no, this market does not offer a level playground for the all networks.” she said.
The GMD added that she wondered how medium and low-income earners would be able to benefit from real estate investment with high prices of properties.
According to her, one needs huge capital to own a property in Nigeria, especially in Lagos and some other major cities.
She said she conceived the idea of the cooperative society and co-ownership of properties to enable the ordinary man i benefit from the real estate sector.
“I want a situation whereby both the rich and the poor benefit equally based on their share in a property without a situation where only the rich get richer and the poor gets the crumbs.
“I just want a situation whereby the market is fair. So we’re just basically disrupting the real estate market place so that everybody will get their own share of interest regardless of your income.” She said.
Mrs Kanu said with a minimum of N50,000 ,low income earners like the market woman , could key into the cooperative, to invest and co-own property in prime locations.
“We are looking at bringing out different real estate products for co-ownership, bringing properties that would bring high yoeld to the co-owner or co-investors as we call them.
“Most property in Nigeria has a 99 years lifeline, so you earn rental income for life. So what we are fostering is to ensure that everybody will be able to partake in this real estate co-ownership platform.” she said.
The real estate boss assured investors that it was not an investment scam as assets could be verified including documents backing the existence of PINCOOP.
Mr Azeez Sadiq and Mrs Olorunkemi Salau, both Community Development Officers at Eti Osa Local Government,presented present PINCOOP with certificate of registration and recognition at the inauguration.
Mr Sadiq said the certificate was to recognise the operation of PINCOOP within Eti-Osa Local Government, and most importantly in Lagos State. (NAN)
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
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