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*Prof. Chukwuma Charles Soludo

Economic crises can be avoided with suitable contingencies – Soludo

The focus of the presentation was actually on monetary policy under uncertainty and they asked me to speak on Brexit to governors of central banks of the 53 Commonwealth countries. The concern was about the possible implications of Brexit on the economies of the Commonwealth and being governors of central banks, what this could mean for monetary policy. The major hypothesis there was that Brexit can only be seen as just one of the many sources of uncertainties in the global economy today.

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•Abubakar Suleiman, Executive Director/CFO, Sterling Bank Plc

We lend to sectors that keep the country functioning

To the best of my knowledge that is not correct. Yes, banks would make money when the yield on CBN instruments goes up and bank customers also move funds to invest in the instruments, creating liquidity tightening. If you check the website of FMDQ you will see that the volume of trade in the fix income market has flattened and now the volatility has flattened. In the absence of the volatility you cannot make such money.

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