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IPO of Nigerian Banks - Nigerians with Means Need to Invest As Patriotic Citizens.

Aliko Dangote's wealth has diminished by more than 66% in the last decade because of his choice to invest in Nigeria where the currency has seen significant depreciation in value and the economy has not been so stable, yet he remains. He has not given up on the nation... this is worth considering as a Nigerian in the diaspora who wants a better country. Especially in the wake of the re-capitalization of the Nigerian banking sector.
 
The Nigerian Banks under the directive of CBN have been mandated to increase their capital base and some of them currently have public offers. I did a due diligence to look at the strength of some of these banks, they have done so well over the years. Huge dividends were paid out year after year and their shares have seen significant appreciation over time. Some of their indices show that they are on a path of growth.
 
As a Nigerian in the diaspora, I have concerns about investing in Nigeria. The number one concern is the devaluation of the naira. No dividend or share value appreciation can override the colossal depreciation of the naira in the last 10 years, especially in the last 15 months. And it appears the regulators have not been able to find a solution to the problem. The reason is that it boils down to corruption that has dogged the nation from the beginning and those who benefit the most and the ones that are supposed to have oversight roles, the political office holders.
 
Second, the economic landscape in Nigeria is so precarious now that investors are pulling out their funds. However, the banking sector remains one of the thriving sectors in the nation, especially those that have re-invented themselves in a way that puts their shareholders and customers first. GTB, Access, Zenith, UBA, First, and maybe Fidelity...
 
I have asked myself as a Nigerian, if I choose not to invest, who will. I see this as an opportunity for me to make a small change. Without access to credit facilities, the economy will not grow. Our banks are the custodians of credit and they help the economy grow. So, I urge Nigerians in the diaspora to invest in some of these banks not considering so much of the return but the good they will do if they help provide more access to credit that can drive growth... the return will come, but it may not be at the rate we see in the West. I am encouraged by the patriotic act of Aliko Dangote...

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