Wetin Dey Happen for Naija Banks
Di image resemble bank building, wey dey represent di challenges and opportunities in di banking sector, including di issue of private jets and windfall tax.
Chai! E be like say Naija banks no dey dull at all. As dem dey cash out excess profits, dem don decide say private jets na di next big thing. You go dey wonder, “Who send dem?” Well, di matter don loud reach government ear, and windfall tax don land like awoof rain to collect from di “excess profits” wey dem dey hide.
E shock! One bank chairman sef don carry loudspeaker dey hala, say some banks dey waste money dey buy jets for their oga dem. “Na jet dem wan use solve overdraft?” E ask.
No be only online people dey talk am, o. Coronation Merchant Bank sef no gree carry last as dem gather big oga dem for webinar on August 6, 2024, to discuss di mata. Di theme na: “Understanding Bank Capitalisation: Rights Issues and Opportunities for Investors.” Dem even invite big men like Dr. Okey Umeano from SEC, Bolanle Adekoya from PwC, and others to break di matter down.
Dr. Umeano talk say di banks dey plan to raise ₦4.2 trillion through rights issues. For those wey no sabi, rights issues na when bank go sell extra shares to shareholders for promo price. Na win-win—di shareholders go smile, and di bank no go scatter di ownership structure.
Dr. Umeano yarn say make investors read di fine print before dem put money. “No be everything wey shine be gold,” e talk. He still touch light di way SEC and CBN don dey collaborate better, using tech to protect investors. Di informal sector sef no dey left out. “Na time for banks to look di underbanked people for Naija and Africa.”
Bolanle Adekoya from PwC join di gist, talk say equity investment na patience game. She advise investors to check di banks’ history: who dey pay beta dividends? No just carry body enter anyhow. Di capital market fit add 30% to GDP, and di banking sector no dey slack.
When one sabi-sabi participant ask, “No be di same money una go use buy another private jet?” Everywhere burst! Laughter scatter di webinar like pepper soup party. Even di moderator, Wole Famurewa, no fit hold e laugh.
But Ayokunle Olubunmi from Agusto quench di fire quick. Him talk say di excess profits no too real-real like that, so di windfall tax no go shake di banks like people dey think. “Una no need dey lose sleep for this matter,” e talk.
Olusegun Owadokun from Coronation Securities come explain di koko: Banks dey prefer grow di money wey dem get instead of sharing dividends. But, because shareholders dey expect “thank you,” rights issues na di waka wey dem go follow.
Dis banking palava na serious matter, o. Private jet gist and windfall tax, hmmmm, e clear say Naija banking industry dey pass through shake-shake season. But, no let di drama distract you from di opportunities wey dey ground. Before you invest, check di track record, understand di rights issues, and stay woke.
As dem talk for webinar, di banking sector get big potential, but na who sabi go chop belleful.
