I made a tongue in cheek post two days ago, counseling INNOSON to add a little cash to the N8.8bn that GtBank will eventually pay him to float a deposit money Bank.
Some of my friends, were quick to point out numerous wealthy Nigerians , who floated banks that collapsed and those who did not venture into it .
Friends, Banking is a passion , profession as well as an art . That Big man ABC did not have passion for Banking or does not see the need to invest in a non deposit money Investment bank or Deposit money commercial bank does not make it a fad or norm
Most of the real sector investments forays into Oil And Gas, upstream and Downstream, Power Sector, Hotel and Entertainment, Food and Food Processing, Mega Real Estate, Agriculture, that Tony Elemulu , Late Tayo Adenirokun and Jim Ovia made in Nigeria and other parts of Africa were made possible because of the financial watchest and deep leveraging that they got from their ownership of banks
Ownership of the then Guardian Express Bank , now part of Heritage Bank, helped Coscharis to grow and expand his business. Coscharis always paid back his loans , unlike others, who could not different the depositors monies from their private pocket monies .
Large stake holdings in Fidelity Bank helped Peter Obi to expand his Next Group.
That Emeka Offor or Leo stan failed in their attempt with Afex Bank and Assurance Bank does not make backward integration into the financial services sector by a manufacturer or Entreprenuer in other lines of businesses bad .
If you truly desire to have an honest and dispassionate understanding of why AFex and Assurance banks failed, please book a dinner date at Radisson Blue, VI with a
Cheque for just $10,000 and I will give you a good lecture 😂😄
Discipline, professionalism, ethics and Prudence are key ingredients of most successful Entreprenuers who ventured into Banking.
INNOSON does not need to own a Bank 100% . He can partner with Nnaemeka Obiaraeri’s Taurus Capital to float one. He will own 40% equity and we shall own 60% , running it excellently for him and other key stakeholders.
Nigeria does not have many real sector value adding great banks. What we have mostly are mercantile shops of rent seekers and greedy fronts for public sector looters
Good morning all
Dr Nnaemeka Onyeka Obiaraeri, FICA , MIRA