Nigerian scholar predicts emerging dominance of some banks | Nigeria Newspaper- Nigeria News| Naija News

6.11.17

Nigerian scholar predicts emerging dominance of some banks

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Banks Boost Economy with Loans
THIS may be one of the finest hours for Nigerian scholarship in the financial sector as Dr. Jimanze Ego-Alowes heads the Brace Institute, a think tank, inventing a new working taxonomy for markets and economics. They are the brace and constitutive sector classifications. The idea was developed in his work, “Minorities as Competitive Overlords.” The book is now taken as classic of economic and developmental thought.
However in a new book, “Nigeria the Unreported Genocide…,’’ Jimanze elaborated on the idea of brace sector. The book was published in the first quarter of 2017. In the book, Jimanze stated: “The point is that the banks UBA, Access, and Zenith are all minorities persons controlled as we indicated in Minorities as Competitive Overlords. Their achievement is as competence driven or based as it is facilitated by the brace factors and the sociology of business advantage vectors which are at work and play in their favours.
“What advantages they have a priori, literally unearned and exclusive to them, a great competitor like GTB has to sweat for to play in their league…. So the dictum is correct: When the economy tanks and all is not well, there will be a flight to gold safety and there will be a flight to Brace safety. The minorities/brace sector agents will be the last to go under or down. In fact they may encounter a minor boom.”
In a recent media report, “Tier-1 Banks Grow Market Dominance,” the Chief Executive Officer of Afrinvest West Africa, Mr. Ike Chioke, stated as follows: “Tier-1 banks accounted for between 60-65 per cent of market share in the banking sector.” But he stated that the 14 banks covered in the report showed that the gap has risen above 70 per cent.
He stated further: “What is happening is that tier-1 banks are growing faster. So, the tier-1 banks continued to grow, often at the expense of the tier-2 banks.” Afrinvest is a leading Nigerian financial research powerhouse. The key point is that the brace sector is predictive while the tiers-1 to N classification is historical. That is brace sector analysis can be used as investment platform and strategy, amongst other things. Jimanze promises to even further articulate the brace thesis.

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