By Sofiat Adenekan-Abdul
Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to be cautious when investing in initial public offerings, IPOs.
Sanusi spoke at the Dangote Petroleum Refinery and Petrochemicals IPO roadshow in Kano, where he advised people not to sell their homes or use their children’s school fees to buy shares.
He encouraged potential investors to only commit money they could afford to set aside for some time, saying investments should be based on the fundamentals of the company.
The former CBN governor also urged people in Kano to consider owning shares in the Dangote refinery, describing it as a company with assets and production capacity on the ground.
Sanusi said Kano’s history of producing successful entrepreneurs reflected the state’s culture of hard work, risk-taking and enterprise.
