Mr Bayo Olugbemi, President, Chartered Institute of Bankers of Nigeria (CIBN) says the banking sector in Nigeria has a good capital base to facilitate the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement.
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YEAR 2021 started on a good note for the Nigerian women with the emergence of Nneka Onyeali–Ikpe as the Managing Director and Chief Executive Officer of Fidelity Bank, on January 1, and Yemisi Edun as the acting Managing Director of First Monument Bank (FCMB) on January 6, 2021 respectively.
With these latest appointments the number of women currently sitting at the helms of affairs in the banking industry has risen to six.
This is a no mean feat bearing in mind that the banking industry was male-dominated and its leadership, many had thought, was an exclusive preserve of the menfolk.
There is no doubt about the fact that these two recent appointments are a boost to the womenfolk, and it is expected to give the career women an impetus to also break the glass ceilings in their respective organisations. Today WWW presents the six women functioning as the MD/CEO and chairman of the board of directors and of the leading banks in Nigeria.
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Published 31 December 2020
Lack of infrastructure, consistent foreign trade deficits, worsening exchange rate among other economic challenges are major impediments that may hinder production of standard and cheap products that can compete favourably with foreign products when the African Continental Free Trade Area commences, NIKE POPOOLA reports
Comparative advantage
Nigeria has consistently maintained foreign trade deficit records in recent quarters. This means imports have continued to exceed exports.
This situation is a major concern of stakeholders who are worried about the capacity of the country to compete favourably with its continental neighbours when the African Continental Free Trade Area starts on January 1, 2021.
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The Central Bank of Nigeria (CBN) has for six years missed its six to nine per cent single digit inflation rate target. At 14.89 per cent in November, which is 32-month high, inflation upswing has not only eroded savings account depositors’ interest income but triggered new wave of investments in alternative assets. Mutual Funds, Eurobonds and commodities markets are new choices for investors and savings account depositors seeking higher yields to protect their funds from inflation-induced capital erosion. Foreign investors are also buoyed by higher returns in Nigeria which remains an incentive for sustained capital inflows. With Nigerian Treasury Bills (T-bills) yield now below one per cent per annum, savvy fund managers, savers and investors need to work smarter to beat rising inflation with higher good returns on investments, writes