A real estate firm, Tobykemsworth Investment Limited, has floated a networking scheme as a means of helping low income earners own their own homes.
Speaking at the unveiling of the scheme, the Chief Executive Officer of the company, Adekunle Raphael-Monehin, said the idea behind the scheme was to remove the impediment of waiting for bulk funds before embarking on home acquisition.
He said, “The challenge of owning a home is just in the bulk fund. Now we are bringing a system called rabanaire. Rabanaire simply means collect ‘naire’, which means good life.
“So collect good life and rabanaire has about five packages in it. You can get a home from rabanaire, you can get food, cash, car, you can enjoy leisure via the system.”
According to him, the scheme has four packages of different types of houses.
“We have the two bedroom bungalow, we have the three bedroom bungalow. We have a terrace apartment, four bedrooms, then we have a five bedroom duplex,” he said.
Raphael-Monehin added, “So you just connect by paying N55,000 when it comes to the bronze aspect of the two bedroom bungalow, a one-off payment, then you start connecting people of your like so it has a compensation plan.
“After you pay N55,000 you have been brought into the system. And the system states that you must produce two persons like you that will do N55,000. The two persons will do N55,000. It has three stages, each stage has level one, two, and three,” he added.
Asked when subscribers of the scheme will finally clinch the grand prize, Raphael-Monehin said, “You have to get to level three, you have to get to stage three level three. Stage three level three, and then you have your home.”