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computer engineering from johns hopkins university usa and an mba from the university of calabar nigeria then you know that you are in for a very special treat now i'm talking about our next speaker professor a nigerian inventor engineer author and entrepreneur he is the founder of first atlantic semiconductors in microelectronics which is west africa's leading embedded systems company he invented and pretended a robotic system which was later acquired by the us government professor kaiqui has also held professorships in carnegie mellon university and babcock university his working experience includes analog devices core where he co-designed a generation accelerometer for the iphone and created the company's first wafer level cheap skill package for the inertial sensor you know what in plain english let me just break this down to you if you're using an iphone right now then rest assured that professor kikway was part of that success story so your excellencies ladies and gentlemen please welcome with me a true genius professor into bc so thank you so much uh distinguished uh ladies and gentlemen it's quite a moment and a great privilege to have this opportunity are speaking before you all in this capacity thank you so much fidelity bank for the moment thank you for what you stand for our beautiful nation and our economy i want to also stand on existing protocol recognizing the vice president of our nation represented here the central bank governor of a beautiful country and my curves uh guest speakers here so i will have a conversation here i've titled it the new cba and forest policy departs to two trillion dollar gdp i don't know if i can share my slide just about about four slides if it's possible i can share a slide is it possible i'd mean for me to share this like this oh it's not okay great so thank you so much so um okay great so cody's the new cbn forest policy they're part of two trillion dollar gdp for nigeria and of course we know that we are not there at the moment but looking at the redesigns at the trajectory i do believe if it lead and nigeria should be a two trillion dollar economy today so to begin this i'll take you back a little bit of history if you go back more than 2 000 years of gdps around nations i have using the gdp of i'm using the gb of china and the gdp of the united states of america for illustrative purpose here so what you see here is that before 1600 the gdps of china and the gdp of united south america america but update we are largely flat and if you look at the grosswort products aggregate of all gdps on acts then everything was flat the implication was that the gdp was not growing economies were not growing and just like that the per capita income was actually decelerating so because if you divide the gdp in a growing population over time it means that a generation of people are getting poorer across generation because the population was increasing even when gdp was not appreciated so that was the time if you remember back in your secondary school biology class or a secondary school agricultural science class there was a man called reverend martins he came with his postulation that the world population was growing geometrically while the food production was growing in arithmetic progression in other words if that comes from should continue a time will come when man or woman of course will starve to death but something started happening around here just at the back of america the gdp of united states started moving in an exponential form and china later on started that party unfortunately not all parts of the world we are able to connect into this rapid translation from a largely flattened gdp into one that became exponential in groups to a large extent a beautiful nation nigeria is still catered to these flattened gdp and gdps that are in that constructs as societies of inventions and societies that do not have innovation but the gdps of nations that have shown these exponential capabilities and nations that have innovation so what is an inventive society an inventive society is a society of ideas everyone has an idea how to fix electricity in nigeria everyone has an idea how to provide power and water in my village in abya everyone knows all these solutions but wait for the next week wait for the next one wait for the sda no product or service available in the market so in the palo alto parks people are talking about solutions to nigeria solutions for nigeria but you can find dog solutions for you to make use of them so what is happening here is that nigeria has the characteristics of an inventive society a society of largely more ideas without producing services so the question here is this how do we transition from an inventive nation to an innovation nation because it's only when we can do that that is the time our gdp will now begin to ramp up to accommodate the population growth that we are seeing in a beautiful country so in this conversation here i want to believe that the diaspora the people that we have actually invested most of them we gave them free scholarships in universities in nigeria we subsidize their education and as soon as we seem to have lost you are you there okay uh we'll definitely get him back but i mean he was building up really well trying to detail what has happened over 2000 years i never knew those data existed well that's what you get from someone with two doctorals so we'll get doctor que definitely but you could just take some time take a look at that slide i mean 26 states no fdi adamawa had just 20 000 to make the 11 so it's building up and the interesting part is that we will be transitioning to the q and a segment and rotus of course is standing by we'll be keeping uh dr kick with definitely amongst the panelists just to uh you know get his ideas speak his brains it's not every day you get to sit down with someone like that so rotus will be handling that segment very soon we have over a hundred you know conversations in our q a and i trust that you've dropped those questions so we will be taking a look at those questions getting answers to those questions i know it's a new terrain so there are a lot of questions to be asked but rest assured stay right there be relaxed because those questions will be answered we have more than capable hands and brains i should say to handle those your questions and as usual know we enjoy you know sending those chocolates to those clothes and others but more importantly we enjoy those investments so ladies and gentlemen stand by [Music] connect the [Music] intoxicated [Music] i think can you hear me now please hello yes but yes we can go ahead i'm so sorry i can't understand why it's okay we understand yeah it is okay so as i was trying to explain here that the kids in here can you hear me yes please go ahead okay sorry about that so the challenge here is how do we transition from these invented society into an innovation society and one of the key elements of doing that is looking at capital which is a very critical element when you look at the factors of production now a nation nigeria has knowledge i mean there are very brilliant people in the country so from that angle we have some of the most fundamental rudiments necessary for us to now move from that invented society to an innovation society then where is also that entrepreneurial capitalism across the nation we have young people who are risk takers who can actually take us into that mountain top if we give them the necessary capabilities and things they need to make that translation so we saw when the national bureau of statistics reported that out of 26 countries out of the 36 states we have in the nation that 26 of them did not report any foreign direct investment in short adam i was there it was included as one of the stakes in the nation that had a foreign direct investment and what did he do to qualify for that adamawa state received 20 000 as foreign direct investments in the year 2020 so you see that even the foreign direct investments may not necessarily be the path to that innovation society so diaspora capital a concatenation of that remittance and diaspora investment is something i believe if it leads our very critical for our nation to see how we can bring that knowledge we have bring that entrepreneurial capital is in the spirit we can do what we want to do and galvanize it together and then we can view the beautiful country that we want so coming into that the new cbm policy is very very catalytic it's a very brilliant policy because it has removed the information asymmetry which was usually the case if you send in one thousand dollars by the time you are paid in error you've lost a lot through the exchange rates but the cbn has brought something that is safer and something that is also simpler and it's going to open up a new vistas that many people will now use the formal instruments for them to now send money to the beautiful country so but that is not just going to be the only thing we need as a country because if you look at it very well you see that nigeria sparks some of his best products our young people so we have very brilliant people that nigerian sports very brilliant young people as of the nation and if you look at the growth trajectory we had in early 1960s my mother says that nigeria should be a treaty by now but we are less than around less than 500 billion in other words we are off by more than 1.5 trillion so our paralysis started around 1970s late 1970s when this tragedy of people living the country including myself fortunately left so the question is this how can we at the moment according to price water coopers i think they said in 2018 that you receive about 23 billion dollars i say believe that that number is very low that we could actually be hitting about 23 billion looking at 1.5 trillion that we have lost as a result of that migration that has been taking place in the nation so the one thing there is this nigeria is just looking at 23 billion that will come into the country but there are also other things that are happening you know i just gave an example i have a patent with the u.s government acquired they're going to use it in the space no one is going to capture that as a contribution to nigeria i went to futo i actually attended university in nigeria largely free but right here the best of the work i'm doing is america that is katarina value then you now go into some senior fellows of of nigerian origin in nasa in some of the finest companies in america by the time you look at the aggregate and the composite of these elements you see that nigeria is not capturing any value from the diaspora the 23 billion we think we are getting is absolutely nothing so why what are we going to do for that so the cbn has done extremely well banks like fidelity bank it's working extremely well to push these things but i want us to go back to a construct that we use in startups you know i have about 15 startups i've invested in lagos in nigeria generally and there is something we do we call it the one who assisted the double play strategy in other words in any business you need to look for your best products in any market you need to look for your best products and just like when you go into a desert you have the oasis where the life of that particular inhabitants surrounds the young people that are going into the united states going to canada they remain some of the finest the nation is giving the world so the question here is how do we capture value from them and that is going to be a most important thing so my point is this how do we move from just waiting for them passively to remit one thousand dollars from me two thousand dollars to actively encouraging them by actually going wherever they are in order to make sure that they are not just passively dropping the literal they don't need but actually making decisions that they can invest in building a new nation so i saw something like diaspora growth nation forge it is something where the government will say i am going to lose immediate benefits in order for us to have the capacity to actually view the nation because if we do not have capital nigeria cannot transition from that inventive society to innovation society because capital is very critical for us to view the necessary things we need as a nation you know when we look at our standard of living people can say things are not the way we would have wanted them to be but you look at it south africa's budget is up 170 billion dollars and south africa has a population of 16 million people nigeria's budget is around 35 billion and we are three times the size of south africa so in other words most of our challenges are actually capital related so if we can find a mechanism how we can unlock more capital is going to be very critical so how can we do that i said that the diaspora offers us a very credible part how we can bring more capital into into the country so one thing here could be just like fidelity bank is doing if somebody invests through their system and government will say over five years over 10 years any dividends or any exit from that business we don't have to pass it we just make it a largely free for you you don't have to pay any pass on it so by doing such the government can now incentivize people to take conscious efforts as a diaspora to actually invest in the country i do believe that if we do that we can add an extra 60 billion dollars on top of the 23 or so that we are receiving and if extra 60 billion dollars comes into the country i promise you that things will begin to ramp up very very well in the country so thank you very much ladies and gentlemen this is just because i know that the time is very short so i have to constrain this stuff thank you we have the ability and i do believe that remittance offers us that promise but we just have to take an active role to make sure that people living outside the nation can partner with those in the home team are very very very bold people so that we can view the country that we all of us are expecting to build in nigeria thank you very much ladies and gentlemen well thank you professor kwaif thank you thank you professor thank you very much absolutely the pathway to two trillion dollar gdp for nigeria so he has basically shown us the way well let's get started speaking of that fidelity bank plc of course has opportunities for you that you can leverage on to build this 2 trillion dollar gdp for nigeria why don't you take a look [Music] [Music] is [Music] banking in nigeria from the diaspora is as easy as picking up your phone cause once that's done your access to multiple offerings from fidelity diaspora banking is granted open a fidelity diaspora account on fidelitybank.ng and enjoy peace of mind while living abroad we are fidelity we keep our word well that can be you actually chilling in that dream apartment why just because you bank with fidelity bank plc we are fidelity we keep our word now it's time for a segment i'm particularly excited about really we've heard from amazing speakers the vice president the governor of the central bank of nigeria the mdcu of fidelity bank plc the head of night comments so much more but this is the time to rob minds so ladies and gentlemen it is time for the panel segment and i have a capable hand to handle that roto sodium my co-host it's up to you now take us away thank you so much uh guy the excellent stuff great to be here again at the diaspora webinar series inaudible from a fidelity bank we've of course heard from professor uh undubisi akway and now we're also going to be introducing our other panelists once more i'm rosa sodiri i host the global business report on arise tv it's great to be here once more uh so um professor wali suleiman is one of our panelists and i want to tell you about him right now professor wales solomon is an accomplished uh neurosurgeon and researcher he's a skilled physician executive and leader a philanthropist and a successful entrepreneur in recognition of his career exploits and meticulous services in canada he was conferred the distinguished canadian citizen award in 2019 by the nigerian canadian association of calgary the ncac he founded designed and managed one of the most comprehensive multidisciplinary back and spine ce ters in the united states and transform the austria department of neurosurgery and neurosciences from a two-person get this two-person practice in the u.s news and world report to a top 25 neuro neuroscience program in the united states incredible growth there he's been involved in neurosurgery and spine surgeries in nigeria and was appointed the special advisor on health matters uh to the kwara state government from 2019 to 2020. so very much looking forward to hear from professor wallis luman uh to the entertainment sector um mr uh aleister show your day uh he is the founder of bright entertainment network bret ben tv the first and longest running african and caribbean focused television channel in the united kingdom he's educated in nigeria and the united kingdom 15 years experience in business development management european chairman of the uh nigerians and diaspora organization as the nido which was set up by the government in 2000 to unite nigerians overseas with a zeal to developing the nation from from the diaspora so of course inclusive of course of course we've already heard from uh professor undefeated so that those are our panelists very very eager um to get into um this discussion right now so of course um professor akiko i want to start with you we just heard your very very very illustrative speech my first question to you is you've been known to invest in about i believe it's 33 companies in four continents and you mentioned the number of startups you had in lagos as well which is in the in multiple teams what's in your opinion is driving the performance of nigerian investments for example uh the stock exchange 50 returned the nigerian stock exchange last year one of the best returns across the world what exactly do you think is your experience is the driving factor and the attraction of the nigerian investment space uh professor a cakeway floor is yours yeah so thank you so much i think the most important element here is that the problems are still there provided the problems have not been solved it has to be solved so if the problems are still there anyone that figures out a solution is the guy that is going to go and take over the castle so when we look at the challenges in the nation and you could figure out a pathway that you can go and solve that problem and if you are very successful in fixing that friction you win the price so i think that is incentive why people are investing locally and and across most circles you could see that fintech is very strong logistics is also there the health tech sector even in agriculture so nigeria has so many paralysis that any sector you pick there is something you would like if your mind is actually very open because there are people that cannot see that even right there where they are there are gods and diamonds and that they can actually talk it's just like what happened in paystack a lot of people did not believe that somebody could create within five years a 200 million dollar business in nigeria but these guys did not pick that memo and they went ahead and started a business there was a startup i invested in november last year last week they raised money at 7.2 million dollars so these guys were able to grow value of 7.2 million dollars in less than seven months or so so there are latent opportunities in nigeria but you just have to believe and go and actually untap them so much for that uh professor on the basis for that answer there professor sulaiman i want to come to you you're a proud diaspora account holder fidelity bank you've invested in healthcare you're of course the chairman ceo and chairman of rnz global limited what would be or what would a diaspora investor looking at nigeria have to consider before putting their money where their mouth is and investing in africa's largest economy in your opinion uh professor wallace uma yeah thank you very much this has been a very enlightening program thank you fidelity for putting this together i think um i'll be remiss if i don't mention some housekeeping stuff so i've been i'm one of those people that have actually returned to nigeria i haven't lived abroad for almost 30 years i was doing well in my career as a neurosurgeon as an academician but i think coming back to nigeria is one of the best decisions i've ever made and i say that but before i get into the details of your question i think there's some housekeeping stuff that everybody that's these 3.1 000 people if you're thinking of coming back to nigeria there's some housekeeping stuff you need to do and the first one is your accommodation they sound they sound very very simple by things that you need to make sure you make you comfortable when you're here so accommodation your vehicles making sure you have enough savings that will last you three to five years so that you're not coming to a market desperate and not thinking through it and then making sure that you could connect your network in nigeria the people you went to school with to connect to them and then define how you're going to add value to the society you have to define your niche and now you're going to add value to the society and then i think one of the common mistakes we made before we all went over st we planned to understand how things work when you're coming back here plan plan plan and apply the same amount of legal energy and focus to be able to do all you need to do so i think what we are what we are and that's exactly part of our strategy here we have to be solution oriented instead of remedy money to be able to for somebody for free why don't why don't you limit your money to be project oriented to be innovation to to fund innovation to be able to actually so when you look at the situation in nigeria when i used to come to nigeria just to see last election when you used to come to niger when i'm flying into lagos and you look at the view you see people like oh my god where do you start which is glass half empty but when i see that lagos now see there's a lot of opportunities here there's a lot of people that need something are you going to key into it and provide a solution to what they need and you have to rethink how you put your finances together to actually align with what is possible in the country not to import ideas from overseas i'll stop there for now wallace suleiman uh talking about keying into opportunities i want to piggyback on that answer and come to uh mr alastair uh show your day uh mr dave we just heard professor wiley sullivan talking about keying into opportunities looking at being glass half full when flying into lagos and looking at the landscape so based on that i want to ask you what about the entertainment sector how are folks or how should folks in the diaspora be positioning themselves if they are viewing the entertainment sector in nigeria nollywood and the like for investment mister showed are you with us okay we're gonna hear with right uh what we need to do uh those in the diaspora in some of entertainment i on the right question correct yes as far as the entertainment sector is concerned what should the diaspora be looking at based on the opportunities that are there in your view well thank you very much and it's a pleasure to be on the summit uh wonderful speakers and thank you very much for our chairman and our ceo md and there is no doubt that the entertainment industry really has been the catalyst of exposing nigeria to the global community uh it is good what the african uh ceo mentioned about even having a fun and creative uh funding for people going into the movie industry and being creative and innovative so surely in nigerian capacity especially in europe or in the diaspora we have a tremendous opportunity people like our top producers that have been producing wonderful movies and creighton story that the world need to know but i think it is very important as well to recognize that africa as a whole and nigeria been the leading nation on the african continent we need to do more in terms of creative awareness in marketing the nation to the global community and now what we have seen is many nations will be looking inward into supporting their country's face before exposing and giving more grant to other nations and it is a pleasure of course to be on the fidelity side because actually i have been working with fidelity from the distance i've attended some of the summit especially on on empowering youth in the country from kevin state to anambra and i appreciate okay we're having a bit we can definitely i can hear where uh mr shoredei is going talking about the initiatives and the opportunities here i think he just mentioned quebec state the number of different states in nigeria where he's you know looked and seen opportunities so i think i can i've had a little bit of a sound issue there but i can definitely hear where uh mr show it is being so thank you so much for that answer mr schroeder yeah professor i want to come back to you uh in your your um presentation you were talking about moving from an inventive society to i believe an innovative innovative society i want to ask you professor akiko how much education plays into that transition fidelity bank for example has made education a cornerstone of their csr corporate social responsibility initiative so just based on that uh professor akway how much of your role does education play in getting nigeria from the inventive over to the innovative society that you envision in that presentation that you gave yeah so of course education is very very important it's a very very catalytic element can you so education is very very important if you go back to that slide i had knowledge as one of the elements necessary for us to have that translation so if you move from that invented society to innovation site you need knowledge and whenever a country has the capacity to develop a fire and deploy knowledge that country does well the time of egypt pharaoh was known as a man who was very knowledgeable i mean egypt was the the the pioneer of modern civilization and egypt the pharaoh had the best astrologers and the best thinkers from that you went to the time of the babylonians to the time of the roman empire what you see there you can see that people were accumulating knowledge and that accumulation of knowledge was very critical for them to advance as a people even the time of the greek empire as they were writing those things on philosophy and logic the mediterranean sea from cast ireland you will see the shipping lines they were building so a nation cannot develop faster than his educational capabilities so for nigeria to advance from an inventive society to innovation society nigeria needs to have the capacity to accumulate knowledge and actually apply that knowledge and just to say it's simply here there is no just shortcuts because the people that live during the inventive society one thing there they were actually brilliant people the the constructs we have today in physics and mathematics and chemistry the fundamental elements the people that created them died very poor but what where the capital comes in is that this guy is smart he is a phd graduate he is very knowledgeable he has gone to school not necessarily a university but a vocational school or maybe the ebay apprentice system no matter what it is there is knowledge being applied does that person have capital to move from talking of an idea into creating products and services in the marketplace so that capital is the instrument to do the translation from invention to innovation so it has nothing to do with your smart guy you could be a very brilliant person but that does not end it it has to do do you have a product in the market that people can buy if a society cannot produce those services that society is nothing but an innovative society for me i have an equation innovation is equals to invention plus commercialization if you have not commercialized it to fix the friction which existed in markets it is not innovative it's only when he's solving people's problem that is the time you can baptize it with innovation and that's what nigeria needs it's not just going to university it's not just going to polytechnic it could actually be learning from somebody going to vocational school but that knowledge must be supported with capital for us to have that translation from invention to innovation fantastic thank you so much for that uh professor under vise innovation is equal to invention plus commercialization very very very apt there um professor while lisa lebanon i want to come back to you we're here because of partly because fidelity bank is creating a link from the diaspora to nigeria you talked about spending over 30 years overseas and then coming back here can you talk about patient capital for the diasporans that are overseas that are looking to invest in nigeria through the links provided by financial institutions like fidelity bank high importance this is for public capital to be patient uh professor wales yeah thank you very much and uh i think uh prof actually summarized it you know you could have the best ideas but if you're not adding value i think it's a matter of creating value and then forming partnerships so that you can actually have access you can you can convince people that are going to provide funds to buy into your idea and see how it's going to be valuable to society it's going to be challenging so i think so that partnership with fidelity bank or any other uh financial institution is critical but you have to understand we are creating an environment where everybody is very skeptical and you know you're very very very plus very very small amount of data to be able to actually create a very good financial modeling so a lot of effort needs to go into making the case making the case again and also actually getting some local data to convince the people you want to partner with that this is a very viable project because uh there's some information saying people for instance i'll give you the issue of health care terrorism medical terrorism there's a lot of numbers out there that say oh people two billion dollars have been spent from equal tourism most those numbers are validated so until you come on ground and you actually know the reality i have a clinical practice i i'm an ski entrepreneur i run rnz global for hospital management it's actually more challenging than that now if you're not turn it upside down and say okay what are the things that people are looking for how can i be a solution oriented provider right and that's where you begin to solve problems and also your financial modeling needs to reflect reality on the ground so let's say for instance you want to go and open a diagnosis center in the united states and maybe a ct scan is two thousand dollars nobody can afford that here so you have to now look at how you can remodel you can remodel your finances to make sure a key into what people can afford and how you can become very lean and improve your processes and be very cost effective so the people that can afford they can actually increase your volume to be able to be more profitable so but you can't do all of that by yourself the partnership with financial institutions they can help you through the processes they can look at key areas how you start so that if you if you're going to fail you fail fast and if you want you're going to be successful you have partners behind you that actually flagging things to you before you get into trouble so but you can you can't have that patience that's why i started without skipping stuff you can't have that patience if you don't take care of the housekeeping stuff because it's a very slow process i have to there's something i talk about which is playing to win or playing not to lose you have to come with the mindset into nigeria with playing to win it can come into this environment playing not to lose if you're playing not to lose every single obstacle you have every single challenge you have you want to get out you find excuses you want to be able to bail out but if you're playing to win every obstacle is an opportunity to improve every failure is an opportunity to do better next time so i think but through all of that i think when you look at when you look at okay for instance if you look at equipment gaps infrastructure gap you look at um manpower gap you could say well nigerian lk is very bad or you could say there's a lot of opportunities in nigerian healthcare because there's a need there's lots of needs now the challenge is how do you make it business viable business wise so that's those are some of the things that i think partnering with a financial institution will help you to be able to think through especially if you don't have entrepreneurial experience thank you so much professor wiley superman for that in-depth answer i've got time for one more question uh uh mr alice i'll show you that i want to bring you i don't want to limit our my questions to you to just entertainment you have investments in uh sports technology uh consumer goods uh industrial property and so on uh mr show your day what's your advice for diasporans looking into coming to nigeria as far as investment is concerned i'll give you the last word on that see this is why we have to be patient you see technology yeah i think it's okay okay i'll try i'll take that question again of course so your comments is well noted about patients with technology um i mean uh mr alice to show you today i was asking you're not just in known for the entertainment sector investments in sports technology consumer goods my question to you was what should aspirants be looking at what's your advice to ask for and looking to invest in in nigeria's australia i'll end with you um there's been discussions around the diaspora investment fund uh professor kikway how do you think that would work okay i think just setting up a pure fund without major incentives may not necessarily bring that catalytic impact that we are hoping i do believe italy that if you set up a fund that can get independently from a venture capital farm or private security firm nothing will happen so the point here is can governments go the extra stay by saying if you are bringing ten thousand dollars and you may have a dividend or there is an exit in any entity that that money is invested in over five or ten years you don't have to pay tax or you pay 50 of the associated pass by having those incentives the animalistic spirit of entrepreneurial capitalism will now start germinating in everybody so people will now say okay i have 20 000 in my bank account in new york but if i can take this money to nigeria and you generate money that's money because even the profit pass is not going to be passed so the fund just alone without incentive i don't think it's going to unlock the opportunity so it's more of what you see in israel in what you see in the united states the u.s most times we do one thing if you are a very rich man you have made one billion one million dollars in a year and now the government will say your tax rate legacy is 25 but if you take 100 000 dollars out of the 1 million and make a donation to a university it moves you into another tax bracket which possibly will make your tasks very very low so by stopping a rich man from giving money away in united states we are punishing him because he can save money so that is why they are very very generous so you see a man donating money to his school they are very good it's not that they don't it's not it's not he's donating that money because he likes his school he donating the money because by donating to the school he's also saving money strongly but the us government is very happy with it so can nigeria now as a policy say okay if this diaspora come i am going to lose money possibly but if i give them that opportunity that will help us to create more value over a long time for the nation so instead of receiving 23 billion we can unlock 90 billion and that 90 billion will have a multiplier effect that was very bigger in the country because we have said we are not going to tax you we are not going to pay all these things and then people will be very interested in i think those are the things that we need to do not just setting up another fund that is absolutely has no difference from what is already in existence i want to see the anchors just the way they do it in india just the way they do it in in israel that will motivate me to make that decision over other alternatives thank you thank you so much uh professor bisi akway also our thanks to professor wales suleiman and also to mr uh alastair uh very very illustrative very very informative answers that we should continue or have to get pressed for time i have to push forward so thank you gentlemen for a very very informative panel discussion again at this inaugural diaspora webinar series brought to you all by fidelity bank now uh there's a lot of questions still coming in at the q and a box a lot of those questions about the products and services that fertility bank is offering the nigerians and diaspora let's take a look at those right now [Music] intoxicated is [Music] all right fidelity bank keeping the award of course as always this is the inaugural diaspora webinar series brought to you by fidelity bank now for his closing remarks i'm going to bring in uh the acting chief digital officer mr richard madiego for his remarks thank you very much um thank you this is actually very very um and it's just an enlightening situation it's an enlightening uh program uh we just want to share some nuggets before we we give our closing remarks a couple of things that prof said uh professor ekwe uh which we would also like to just um lucy dayton there are latent opportunities in nigeria but you just have to believe i think just encapsulates everything that we want to say um so based on everything that has been discussed there are areas we just want to touch on and also letting our diasporans you know go with those things as food for thought the first is on the fixed income area what we have seen is that um a lot of investments are coming to nigeria basically uh coming as a you know deposits money market but we've also seen that there are opportunities for the diasporans in a federal government bonds federal government savings bonds you can invest as little as five thousand naira in your federal government uh savings bonds the treasury bills and then non-government bonds so the law allows them you know private entities to actually raise money fidelity has a bondage ones currently of 41.2 billion naira so these are areas that you could come in and do business in nigeria in the capital market um one of the uh one of the moderators uh rotus just said cartoon market returned 50 last year one of the best in the world but it's one of the most hidden secrets in nigeria that is an area that we want to let the diasporans know a lot of them have invested in the capital market it's highly liquid and there are opportunities both in the in capital gains so these shares would appreciate in value and in dividend payments nigeria is one of the most uh you know potentially best investment spots for your capital market investment now for real estate this is an area that we're very interested in about five years ago we introduced what what we call the diaspora mortgage to diaspora professionals across the world and it has been a huge success now we've had that and running for five years and basically the way it runs it is tied to fico your fico scores fire is a corporation and you're able to access these loans for ports of 10 years at between 9 to 12 so maybe it's slightly higher than what you would get um overseas but uh but mostly better than what you will get in nigeria so that is an area we would want you to also look at come and invest at home we just indeed showed some videos that you can also take home the victoria crest estate it's a lovely estate is something that you you probably look at um investing in is one of is one of our partners and we we we know that it's it's one of several estates within nigeria that you can invest in in the aggregate and export area um one of the things about nigeria that people do not realize is that nigeria is a vast expanse of land 923 677 square kilometers with 200 million people so a lot of opportunities in the agra and allied space is available to you i mean for most of us and that have never lived in nigeria that is information for you for those that have left from here to to the u.s i mean i'm sure you know that the aggregate space used to be the major force in nigeria name capital existing in nigerian gdp right now we want to bring that back and a lot of good companies and capital is available for you so you need to come back with your expertise and with your capital and you you are able to invest in this um this space and export some of this the produce finally on the bank deposits now other investment opportunities around the investment in bank deposits in savings fidelity bank as a bank has introduced what we call the global edge now the global edge is an investment product that enables you invest at home and end up to five percent interest returns uh for tennos of between 250 to 500 000 over a period of one year so those are investment vehicles that we have introduced and then have been accessed by several diasporans across the world the commercial papers the commodity trading and mutual funds are also areas that you could look in and invest will provide the advisory will provide the guidance and we will hand hold you we know that nigeria is a big place some of you haven't been back home for a while we were able to provide that guidance and with that i would go to my closing remarks thank you for tuning in on behalf of the board and management of fidelity bank we wish to appreciate everybody that has taken time off their busy schedules to attend this inaugural diaspora webinar we wish to appreciate most profoundly our vice president professor yami oshibarjun every represented by mrs johan desadiku director general of the nigerian investment promotion council we also wish to appreciate our indefatigable central bank governor mr godwin mfl we appreciate you taking time out of your very busy schedule to address us on these policies and their implications to our budgeting diaspora community thank you very much sir so uh diasporant you now know that when you remit money into nigeria you have five naira for every donor so that is good incentive for you we extend our solicitations to the chairman ceo of nigerians in diaspora commission nightcom honorable advocate www for attending and delivering a goodwill message to her constituents the diasporans all the speakers professor benedict okay orama president of african bank professional dubious account professor olawali suleiman diaspora neurosurgeon and mr alistair the ceo of ben tv we extend our most profound gratitude to our audience the global diaspora community and our customers and friends back home we say thank you for tuning in we hope that your time with us has been worthwhile for us the conversation has only just commenced we will continue to extend this to our channels as we seek to drive interest in investments back home as they say let the conversations continue till we meet again we say god bless fidelity god bless the federal government of nigeria and god bless our experience thank you very much all right all right i can hear i can hear the applause i can hear the applause the applause is deserved the applause of course to the acting chief digital officer uh mr richard madiego thank you so much for those comments applause to everybody that has been a part of this historic diaspora webinar series brought to you by fidelity bank i've been fun being a part of this i really enjoyed the panel's discussion i wish you could have gone on longer so looking forward to the next uh webinar series from fidelity bank i am once again rootsis odieri uh host of the global business report on the rise tv it's been fun doing this with you oh absolutely i believe when mr maddie bossetti will meet again he's referring to a second diaspora webinar series so we look forward to that we look forward to doing business with you at fidelity bank and just before we go quick thank you to the team behind the scenes yes there's an amazing team behind the scenes we have jose vidal and the rest of them you've done a great job fantastic job oh we need to go right oh but we have to go right we have to go thank you everybody thank you des parents thank you my customers thank you everybody have a wonderful evening thank you ma bye [Music] [Music] [Music] [Music] we are fidelity we keep our word are there times when you're abroad and you wish some things could feel like you're back at home easy access to the local cures fish pepper soup hangouts with the guys at sunset fresh granola and roasted plantains to snack on in the middle of the day and of course seamless banking that suits your lifestyle well thank goodness the fidelity diaspora account offers you the comfort of banking and keeping up with your finances back in nigeria from wherever you are in the world it's what we like to call home away from home with a fidelity diaspora account you get to enjoy complete value home and abroad and there's more you can have access to diaspora mod gauge high yield on your us dollar investment with your cash from anywhere in the world with your narrow debit card and us dollar debit card transfer funds easily to any bank account in nigeria track your banking activity in real time via internet banking and other digital banking channels 247 access to a dedicated customer service support it's easy fast safe and convenient simply visit www.fidelitybank.ng to open a fidelity diaspora account today you