Goddy Egene
The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has called on senior bankers to mentor their younger colleagues in order to ensure sustainability, safety and soundness of the industry.
Yuguda gave the advice at the re-launch of the Chartered Institute of Bankers of Nigeria (CIBN) Mentoring Scheme, with the theme: “Mentoring: Unlocking Career Potentials and Possibilities,” in Lagos.
According to him, their commitment to mentoring the younger generation would go a long way in actualising the objectives of the institute’s mentoring scheme.
“Let me use this opportunity to encourage senior bankers to collaborate with CIBN in actualising the objectives of the mentoring scheme.
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Published 27 January 2021
THE discomfiting reality of Nigeria’s emergent food crisis was poignantly brought home recently by the Chairman of the Presidential Economic Advisory Council, Doyin Salami. He revealed during the National Economic Outlook for 2021 organised by the Chartered Institute of Bankers of Nigeria that the country spent a whopping N1.85 trillion to import food for nine months during the closure of its land borders. Salami blamed the flooding that ravaged parts of the country in 2019 as the critical factor responsible for the development, noting that “climatic concerns are undermining agricultural output with 2.5 million farmers being impacted by flooding in 2019.” Between April and September 2019, the West Africa Network for Peacebuilding said flooding claimed cumulatively, the lives of 95 people (including 17 females and 31 children), 45 people were injured with an estimated 722,741 people displaced and 351,236 others in need of hu
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Nike Popoola
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent.
The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja.
It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.
The committee retained the asymmetric corridor of +100/-700 basis points around the MPR.
At the meeting, the committee also expressed concerns of eminent challenges of servicing the country’s mounting debt liabilities.
Ten members of the committee were in attendance.
“The committee expressed concern over the rising public debt stock, as recurrent expenditure remained relatively high, compared with capital expenditure, thus, signalling future debt servicing challenges,” Emefiele said.