Beware of Nigerian banks, Matthew Oshiomolowo

"I would mention banks, there's nothing they can do. I bought for 36 million Naira First Bank at 36 Naira per share, it fell to 12 Naira. I lost that. 

I went and borrowed 60 million Naira in 2005 or 2006 from Sterling Bank to buy Skye Bank shares, it fell from 14 Naira to 2.50 Naira; washed away. Sterling Bank showed up in our office with 4 policemen to come and collect their money. I had to look for that money within 2-3 months. 

The same Skye Bank who loaned me money when we were building a house, showed up in our church. Their risk manager came with about 10 staff to our service...

I bought GTB for something like 18 Naira, GTB fell to 3.60 Naira..."

- Matthew Ashimolowo