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Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy - Business - Nairaland

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Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by wwwihy: 10:22am On Jul 23
Nigerians Are Taking Over Our Economy - Kenyan Professor Says As Access Bank Buys Kenya's Transnational Bank

XN Iraki, an Associate Professor at the University of Nairobi, Kenya, has expressed concerns over Nigeria's growing influence on the Kenyan economy.

Professor Iraki, in an article titled, 'Nigerians Are Not Coming, They've Already Arrived,' published in The Standard, raised the alarm over the influence of Nigerian churches, movies and banks in the country.

He said the entry of Nigerian lenders into the Kenyan market was well planned.

Iraki was reacting to the recent sale of Kenya's Transnational Bank to Access Bank of Nigeria, noting that Access was not the first Nigerian bank to get a foothold in Kenya.

"Guaranty Trust (GT) and UBA already have a presence here," he says. The professor also said many Nigerians marrying Kenyan women was another grand strategy to get into the country's market.

The article partly read, "Why is the buyout so significant to the banking sector and the Kenyan economy? Why didn't we notice it? Is that the last Nigerian purchase? First, the entry of Nigerian lenders into the Kenyan market was well planned. It started by softening the Kenyan mind with Nigerian churches and Afrosinema movies. That changed the hardened image of Nigerians as corrupt and happy-go-lucky—an outdated image.

"From my interactions, Nigerians are serious and focused. That focus and single-mindedness are often mistaken for pride and arrogance. Once they set their goals on something, they usually get it. The means can be contested, excluding juju. For every Nigerian caught on the wrong side of the law, nine others are doing the right thing, not just in their country, but somewhere in the world. One of them supervised my dissertation.

"I recently met a Nigerian who was a member of parliament in South Africa. In America, they are top administrators in universities, medical doctors, engineers, financial analysts and other lucrative jobs. It has been predicted that Nigeria will soon be Africa's superpower. And why not? The country has gone through thick and thin, from coups and anti-coups and even a civil war, like the other superpower - USA."

"For the Nigerians, marrying our girls seems to be part of their grand strategy to get into the Kenyan market; through genes, across generations. What else will Nigerians go for after our banks? Are banks their Trojan horse into our economy? And, more curiously, why is Kenya on sale? Not that I am an economic nationalist, but what are we buying ourselves?

"Some observers argue that lack of buffer communities like Indians and whites may have worsened the ethnic contest among the big Nigerian ethnic groups, and lately minorities. I need to make a fact-finding visit to Nigeria after Covid-19.

"The other prerequisite for Nigerian superpower status includes a significant population (read market) and an educated elite that has footprints in almost all the countries in the world. Oil did not prove a reliable conveyor belt to economic growth; all eggs were put in one basket. With Covid-19, the oil curse seems real.

"The best conveyor to Nigerian superpower status is financial services. Oil needs a countervailing force. By making their banks global, Nigerians - like the British and Americans before them - will leverage onto other sectors. They can control industries, institutions, sectors - and politics indirectly. I am sure you will not see an American, Briton or Nigerian as a cashier in a bank. But who decides how the profits will be shared?

"Access Bank's entry into the Kenyan market is more than the acquisition of a lender connected with former political power wielders. It is likely to disrupt the banking industry further. The demand for more bank capitalisation by the Central Bank of Kenya and investment in fintech were the first disruptors. We can't discount Covid-19 for now.

"Remember Access Bank is more capitalised, to the tune of about $18 billion (Sh1.9 trillion). The bank spans three continents, 12 countries and has 36 million customers. Compare that with Kenya's biggest bank by capitalisation or customers. How will local banks compete with such a big bank? Some could take solace in the fact that the biggest banks in Kenya are indigenous, such as KCB and Equity. Others are merging, including NIC and CBA. But we can't rest on our laurels."

https://www.reubenabati.com.ng/index.php/component/k2/item/16742-nigerians-are-taking-over-our-economy-kenyan-professor-says-as-access-bank-buys-kenya-s-transnational-bank

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Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Matrimonous: 10:24am On Jul 23
Whereas China is taking over Nigeria's economy. What an irony.

370 Likes 21 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by wwwihy: 10:26am On Jul 23
"From my interactions, Nigerians are serious and focused. That focus and single-mindedness are often mistaken for pride and arrogance. Once they set their goals on something, they usually get it. The means can be contested, excluding juju. For every Nigerian caught on the wrong side of the law, nine others are doing the right thing, not just in their country, but somewhere in the world. One of them supervised my dissertation.

389 Likes 30 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by majamajic(m): 10:31am On Jul 23
Kenya people !

1 Like

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by calaway: 10:35am On Jul 23
Matrimonous:
Whereas China is taking over Nigeria's economy. What an irony.

Because merit is not considered in Nigeria a society controled by mediocres favoured and planted by the wicked British.

258 Likes 12 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Foolishbuhari: 10:36am On Jul 23
Nice piece. Unfortunately we over here don't see those potentials again and just want to leave because those old thieves in agbada have finished us.

Nigeria has the potential to lead the black race but the fools called leaders will rather die than see us take center stage. They would rather loot to stupor than do the right thing.

173 Likes 15 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by harjayi(m): 10:50am On Jul 23
Nice observation.
Before you comment rubbish read the full write -up �

27 Likes 2 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Matrimonous: 11:08am On Jul 23
calaway:


Because merit is not considered in Nigeria a society controled by mediocres favoured and planted by the wicked British.
That's true brother. Glad to know there are still sensible people on nairaland. grin

44 Likes 4 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by wwwihy: 11:19am On Jul 23
Foolishbuhari:
Nice piece. Unfortunately we over here don't see those potentials again and just want to leave because those old thieves in agbada have finished us.

Nigeria has the potential to lead the black race but the fools called leaders will rather die than see us take center stage. They would rather loot to stupor than do the right thing.

4 Likes 1 Share

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by dimexy247(m): 11:22am On Jul 23
Ok
Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by overall90: 11:28am On Jul 23
Corporate2020:
Kenya better keep shut before we overun them. A country ruled by father and son. Backward bastards of 50 million nitwits. They better be grateful that Nigerians are coming to liberate them.

try and read

166 Likes 6 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by BlackfireX: 11:30am On Jul 23
They are talking about Igbos and yorubas





Imagine a country of Igbos and yorubas... We will conquer the world.

154 Likes 8 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by ikeyman00(m): 11:37am On Jul 23
Nigeria indeed
Forget that and just watch out for Odua and Biafra in the making

We will finally chase away the next neo colonist and all the racist away from Africa

We must continue !

Serious Odua working with IPOB

23 Likes 3 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Blackking98(m): 11:39am On Jul 23
BlackfireX:
They are talking about Igbos and yorubas





Imagine a country of Igbos and yorubas... We will conquer the world.
Southern nigeria Sha. I wonder what northern Nigeria makes Nigeria known for aside population, Boko Haram,banditary etc

105 Likes 4 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by irepnaija4eva(m): 11:39am On Jul 23
calaway:


Because merit is not considered in Nigeria a society controled by mediocres favoured and planted by the wicked British.


Gbam

5 Likes 1 Share

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by ikeyman00(m): 11:45am On Jul 23
calaway:


Because merit is not considered in Nigeria a society controled by mediocres favoured and planted by the wicked British.

This your black man mentality pastor dey chop money for private jet while you and your associate dey shout sai bubu and i go better will not see day light in Odua and Biafra because we will stop you at the airport.

You have a country boko harem hausa fulani are killing your soldiers for killing too much boko harem ; they shot you at the back

Do you have shame at all at all nwokem; Just recently a young odua pilot was killed

abeg do not annoy us o

2 Likes

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by GuyWise101: 11:53am On Jul 23
More like Igbos are taking over our economy.

30 Likes 6 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by SIONKPO1(m): 11:55am On Jul 23
Corporate2020:
Kenya better keep shut before we overun them. A country ruled by father and son. Backward bastards of 50 million nitwits. They better be grateful that Nigerians are coming to liberate them.
Your choice of words is so uncivil
what about abia state where orjis mum,his son and grand child are also ruling abia state

44 Likes 1 Share

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by ZKOSOSO(m): 11:56am On Jul 23
If not the core North Islamic stronghold, we would have been ahead of Korea and India. But the likes of Buhari and his Fulani invaders cannot make Nigeria great.
99% of people making Nigeria proud across the globe are Southerners and northern Christians...!!
Nepotism, Quota system, federal character, religion are the tools being use by Buhari and HausaFulanis Muslims to hold back Southern greatness.

82 Likes 5 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Schoogital: 12:04pm On Jul 23
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1 Like 1 Share

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by KwaraRat: 12:12pm On Jul 23
Kenya's main port in Mobassa is now fully owned and operated by the Chinese govt alongside other strategic infrastructure. The Kenyan govt spends a huge chunk of it's revenue servicing Chinese loans. But this idiot did not see that, it is the fellow African national doing genuine business and offering both employment to their lazy youth as well as paying taxes that he feels slighted against.

50 Likes 4 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by KwaraRat: 12:16pm On Jul 23
Corporate2020:
Kenya better keep shut before we overun them. A country ruled by father and son. Backward bastards of 50 million nitwits. They better be grateful that Nigerians are coming to liberate them.

The idiot is even complaining that Nigerians are marrying their worwor girls. That to me is the most charitable thing a Nigerian can do in Kenya. Why marry a Kenyan or any other African woman when our girls (,even though their wahala no be here) no be anybody mate for Africa.

29 Likes 2 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Abohboy: 12:28pm On Jul 23
As I have been saying Nigeria is a great country with a lot of potential, all we need to do is vote in the right thing and believe in the president 100%, currently the biggest threat to Nigeria is not Boko Haram or banditry it’s france and America. They love getting their resources free from Africa francophone countries have their reserves in France. When Nigeria threatened to create ECO currency to get back the foreign reserves of the francophone countries why was it that Boko Haram immediately went on an offensive, with new weapons and Alger numbers. Every single time Nigeria has defied France or America something bad has happened in Nigeria.

America and France are trying to create a Libya, because they can tell, that Nigeria can and will kick all of them out of Africa. Come 2023, APC should field Amaechi or Osinbajo, all I know is if either of them are voted in. Nigeria will go very far, but for them to go very far banditry and Boko Haram need to be dealt with before they become presidents. Under Osinbajo, Nigeria can expect to become a hub of science, health and education, the best universities, hospitals and labs would all be in Nigeria. Indigenous companies would be springing up daily.

Under Amaechi the same thing would happen but at a slower pace.

But this is my main message to all the people who read this.

Do not have a revolution and pick up arms, that was how libya was created.

Make sure that you focus who you are voting in as senators and LG chairman’s they choose if new schools, hospitals and roads are built in your area, don’t blame everything on the president and the governor, and let the senators and lg chairman’s escape, they are the true looters they do absolutely nothing, so remember come 2023, focus on who your voting as senator and lg chairman but especially the president.

Thank you for reading.

41 Likes 7 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Biodun556(m): 12:31pm On Jul 23
Corporate2020:
Kenya better keep shut before we overun them. A country ruled by father and son. Backward bastards of 50 million nitwits. They better be grateful that Nigerians are coming to liberate them.

They mistake Nigerian hustle with hidden agenda. Nigerians are simply looking for where to survive nothing more

27 Likes 2 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Abohboy: 12:44pm On Jul 23
Biodun556:


They mistake Nigerian hustle with hidden agenda. Nigerians are simply looking for where to survive nothing more

Really, some Nigerians know how to change things into negatives. Look at how Chinese are going all around the world establishing businesses is it because they are running. Or they are trying to spread influence.

7 Likes

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Goke7: 12:47pm On Jul 23
Biodun556:


They mistake Nigerian hustle with hidden agenda. Nigerians are simply looking for where to survive nothing more

Well said. Though the professor admitted that Nigerians are highly focused.

7 Likes

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Ooni: 1:19pm On Jul 23
I actually like Kenyans. At least, they are free spirited.

She mentioned access bank acquisition of their bank, "Nigerian" businessmen, Nigerian movies and music all of which are Ibo-controlled. It does appear Ibos are the ones stealing the show in terms of wielding economic and cultural influence outside their domain. Wathoni of bbn is an example. Our people also reside in these places but less visible. we need to do more than just living all our lives in lagos.

16 Likes 3 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Biafrannuke: 1:21pm On Jul 23
Afonja hypocrites. see them getting happy over the same thing they hate the Igbos for- economic dominance.

You're happy to live in and do business in a foreign country but unhappy to live with your fellow citizens in your region.

I'm only happy that the mentioned businesses belong to Igbo's. When Biafra comes it'll be easier to establish ties with these countries and repatriate wealth.

33 Likes 3 Shares

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Commonsense99: 1:23pm On Jul 23
grin
Let tha not be the birth of another kind of xenophobia against Nigerians again in Kenya, on the brighter side at least he agreed that for every Nigerian caught on the wrong side there are nine other Nigerians doing the right thing... Which is something the South Africans never wanted to accept.

17 Likes

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by ODJ124(m): 1:28pm On Jul 23
we are the the Giant of Africa

We just need good leaders, boom we will become the Dubai of Africa. ...

...i expect other Africans to be pouring into our country seeking for refuge ..
like people rushing to America
..

3 Likes 1 Share

Re: Kenyan Professor XN Iraki: Nigerians Are Taking Over Our Economy by Abohboy: 1:32pm On Jul 23
ODJ124:
we are the the Giant of Africa

We just need good leaders, boom we will become the Dubai of Africa. ...

...i expect other Africans to be pouring into our country seeking for refuge ..
like people rushing to America
..

Nigeria doesn’t need to be like Dubai. Nigeria will be like Nigeria. We need to stop trying to do the same thing as other countries. We need to be unique. I personally want a nigeria. Where traditional culture is made modern like adding our own architecture onto skyscrapers, hospitals, schools, teaching our own languages and writing systems in schools etc.

49 Likes 6 Shares

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