Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to act responsibly when considering taking part in initial public offerings.
He cautioned against selling one’s residential apartment or using their children’s school fees to buy shares.
Sanusi spoke at the Dangote Petroleum Refinery and Petrochemicals FZE IPO roadshow in Kano State, which had investors, stockbrokers, representatives of banks, captains of industries, traditional rulers, and potential shareholders in attendance.
“Do not take your children’s school fees and put your shares. Do not sell your house that you live in and put in shares, but what you can afford — 10,000, 20,000, 30,000,” said the monarch. “What you can afford to set aside for some time, set it aside, and if you look at the fundamentals of the economy over time, you can be assured that this investment will grow.
nd you will not regret it. And to be honest, people are buying from all over the country. I speak as Emir of Kano. I would like my people to be owners of this. I do not want us to be left behind in the capital markets.”
The former Central Bank of Nigeria (CBN) governor, however, urged people of Kano to support their “son”.
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