The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to exercise caution when investing in shares, warning them against risking essential family resources.
Sanusi gave the warning on Thursday, September 17, 2026, during the Dangote Refinery Initial Public Offering (IPO) investor roadshow in Kano.
The former Central Bank of Nigeria governor advised prospective investors not to use money meant for critical household needs to purchase shares, stressing that investments should not threaten their financial stability. He specifically warned residents against using their children’s school fees or selling the homes they live in to raise money for investments.
“Do not take your children’s school fees and put in shares. Do not sell the house that you live in and put in shares,” Sanusi said.
The Emir encouraged Kano residents and other prospective investors to participate in the Dangote Refinery IPO with funds they could comfortably set aside without affecting their basic needs. He cited amounts such as ₦10,000, ₦20,000 and ₦30,000 as examples of affordable investments, depending on an individual’s financial capacity.
Sanusi also urged investors to approach the stock market with a long-term mindset rather than seeking quick financial gains.
According to him, investors should be prepared to keep their money in the market for several years instead of expecting to make profits from daily price movements.
While cautioning against reckless investment, Sanusi encouraged residents to take part in the Dangote Refinery IPO and become stakeholders in the major industrial project. He noted that greater local participation could allow communities to share in asset ownership while promoting broader financial inclusion.
The Emir’s comments came as the Dangote Refinery continues its IPO roadshow across Nigeria to raise awareness and attract prospective investors ahead of the share offering.
By Musekir Faisat Omolara
