The Truth About Business, Power & Survival “Nigeria Should Structure Corruption” | Keji Giwa

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What if corruption in Nigeria isn’t disappearing anytime soon…but simply becoming more organized? On this explosive episode of Frankly Business Podcast, Keji Giwa — Founder of Shortlet.ng and Giwa Gardens — shares one of the most controversial business takes we’ve ever heard on the podcast: “Nigeria should structure corruption.” But that’s only the beginning. In this conversation, Keji breaks down: - Why the shortlet market is dying - Why Nigeria doesn’t truly have 200 million customers - How greed is damaging the real estate industry - Losing over ₦400 million to theft - The systems he built to stop internal fraud - Diaspora money and investment opportunities - Building West Africa’s largest water park - The future of tourism and leisure in Africa - The harsh realities of building businesses in Nigeria This episode is raw, honest, uncomfortable, insightful — and necessary. Whether you’re an entrepreneur, investor, founder, creative, or young African trying to understand how business really works in Nigeria… This conversation will challenge your thinking. TIMESTAMPS 00:00 Intro 03:04 Why The Shortlet Market is Dead 03:20 Why People Are Getting out of the Shortlet Market 03:56 Demand and Supply for Shortlet Market 04:15 Housing Deficit in Nigeria 04:30 Affordable Housing is a Myth 05:28 How I Built Shortlet.ng 05:55 How I Became The Godfather of Shortlet 06:00 Watch This Before Starting Shortlets or AirBnB in Nigeria or Africa 07:10 How Shortlet Started 11:25 I made $3k to $4k from 1 Shortlet Apartment in a Month 11:50 Get 20 Days Occupancy in Your Shortlet 12:00 Shortlet Started in Osapa London 12:30 Overpricing Killed The Shortlet Industry in Nigeria 12: 50 Hotels vs AirBnB and Shortlet 13:04 N800k per night Apartment in Lagos is too Expensive 15:42 Correction Phase of Real Estate in Nigeria - Real Estate Bubble Burst 17:45 Affordable Housing is the Job of The Govt 19:00 Affordable Housing is Impossible in Lagos 21:00 How To Build Affordable Homes 21:35 Housing Bubble in Nigeria 24:30 Nigeria has two