In 1990,Shina Peters built a house worth 20million naira ,same year Jim Ovia started Zenith bank with the same amount.
Today you and I don't have have a room in Shina's house but I have an account in Jim's bank and probably you do too
Shina Peters
Jim's bank started in a corner and now has over 500 branches in Nigeria, and many international branches. Million upon millions transact business in Jim's bank daily. Shina's house is becoming dilapidated in 2015,he spent more money to renovate the house and bought a Nissan Pathfinder with 10 million (additional liability) while in 2015 Jim's bank made a profit of #105.7 billion.
Zenith bank employs hundred of thousands and fed their families.
This is another difference between Assets and liability. If you buy a car worth 20million today in 20 years you will be ashamed to drive it. On the other hand if you invest the same amount in lucrative business or an asset it may be worth billions in 20 years(Jim Ovia is now worth 550m dollars according to Forbes with the official dollar rate of 411 which means he is worth over 226b naira while Shina Peters net worth is 1.5m dollars which means a aggregate of 578,988,000 naira)If by then Shina Peters decide to invest the 20 million naira on radio station or something more lucrative than that he his possible to be more richer than he his now.
Jim Ovia
Am not saying building a house or buying an expensive car is bad. Am just trying to illustrate how having more investment can be more better. Jim Ovia also has other businesses aside owning Zenith Bank, He is the owner of Prime real estate across Nigeria and mobile Telecom Operator Visaphone which now has 3 million subscribers.
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