Unfortunately, when we think about Nigerian banks, what immediately comes to mind are those e-mails we’ve all received requesting a transfer to an obscure account. However, not all Nigerian banks are alike. Following a privatization and liberalization period, a process of industry consolidation started in 2005. A capital requirement was imposed of naira (N) 25 […]
The ins-and-outs of real estate
Look at the picture below carefully and read the sign there. You’ll see one of the ins-and-outs of real estate in Nigeria – and I suspect that similar ones may appear in the rest of Africa: Yes, you got it right!: “This property is NOT for sale.” Unusual, isn’t it? Not so here, where you […]
Regulations in Nigeria are both clear and ambiguous
In a previous post, I talked about street vendors in Lagos. You may be surprised that street trading has been banned in the state. This is one of the first things I heard when I had just arrived here. How come street trading is banned, and you see street vendors all over? It’s an indicator […]
Driving and management styles in Nigeria
Driving in Lagos (and Nigeria) is quite something. The daily challenge on my way back home is to access the road: this requires crossing two lanes densely populated with cars, and then turn left. Once there, you have to watch for pedestrians who run across, vans loaded with people that overflow, and other cars aggressively […]
Lagos street vendors
I have the opportunity to observe Lagos street vendors in action on my daily ride to school. At one round-about which is particularly jammed, dozens of them offer drivers all and any kind of products: ceiling brushes, soft drinks, clocks, CDs, flip-flops, chewing-gum, underwear, posters, soccer team flags (including that of Barça F.C.), magazines, windshield […]
