Fidelity restates support for MSMEs as Enugu First Lady, ABCON commend bank
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Fidelity Bank Plc has reaffirmed its commitment to enhancing the productivity and prosperity of Micro Small and Medium Enterprises (MSMEs) in the country by providing capacity building that would significantly improve their overall contributions to national development.
Fidelity Chief Executive Officer, CEO, Mrs. Nneka Onyeali-Ikpe gave the assurance at the Fidelity SME National Capacity Building Webinar organized by the bank for entrepreneurs in Enugu State, in collaboration with the Enugu State Ministry of Trade and Commerce and the Enugu SME Centre; Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Nigeria Association of Small & Medium Enterprises (NASME) and Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA).
Fidelity Bank Plc, top Nigerian lender has reaffirmed its commitment to enhancing the productivity and prosperity of Micro Small and Medium Enterprises (MSMEs) in the country by providing capacity building and advisory services, innovative funding options and other forms of relevant support that would significantly improve their overall contributions to national development.
Fidelity CEO, Mrs. Nneka Onyeali-Ikpe gave the assurance at the Fidelity SME National Capacity Building Webinar organized by the bank for entrepreneurs in Enugu State, in collaboration with the Enugu State Ministry of Trade and Commerce and the Enugu SME Centre; Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Nigeria Association of Small & Medium Enterprises (NASME) and Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA).
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It had earlier exchanged for 473/$ for most of last week.
At the Investors & Exporters forex window, it closed at N388/$ after it had reached a high of N415/$.
The country’s external reserves rose by $930m from $35.37bn as of December 31, 2020 to $36.30bn as of January 14, 2021, figures from the Central Bank of Nigeria had revealed.
According to the Association of Bureaux De Change Operators of Nigeria, the Central Bank had continued to ensure it achieved exchange rate stability.
It had also continued to ensure that foreign exchange was made available to manufacturers and end users who needed the funds for their medical trips, school fees payment, travel allowances among others.
BUSINESS/Economy
As the deadlier variant of the coronavirus signals the emergence of the second wave of the COVID-19 pandemic, the world’s oil markets brace for a harsh year 2021; with Europe slipping into another COVID-19-driven lockdown.From all indication, this dreadful wave is already showing signs of causing another shutdown of the global economy, which brought oil prices to its knees early last year. Consequently, a prolonged reign of this pandemic could lead to the worst fears of the Organisation of the Petroleum Exporting Countries (OPEC) – oil glut, in 2021. With an over 70per cent of its forex dependency on oil, this does not look good for liquidity in the foreign exchange market in Nigeria, especially as the country is losing its European oil market share to the US. Happening so early in the year, it has become imperative; to nervously take a peep into a crystal glass, to examine the level of the pressure the naira will be subjected to, in 2021. Chris Paul reports