It all started in the 70’s after Nigerian civil war. China was a struggling nation with growing population.
CHINESE people have one thing in common- PATRIOTISM to their country.
Most CHINESE that came to Nigeria in the 70’s came with nothing. They came with Business Proposals and without physical cash.
The first thing that they did was to meet the Nigerian Banks with the Business Proposals. Even without COLLATERALS, the Nigerian banks would grant them huge loans to establish the factories.
They will run the business judiciously and upto date in payment of INTEREST RATES for 5 – 10 years.
During this process, they’ll build the replica of that business in China because of solidarity to their country.
When trust is built; they’ll take a bigger loans to ESTABLISH gigantic factories in China and refuse to pay back INTEREST RATES. They may declare the Nigerian business bankrupt when they have moved sensitive items to CHINA due to porous nature of businesses in Africa.
If you check the history of Nigerian Banks that got liquidated; you will observe millions of Dollars from CHINESE companies without COLLATERAL.
Irony was that they’ll invite others and teach them the methodology to obtain LOANS.