LAGOS – Afribank Nigeria Plc, last week, promoted 405 staff in recognition of their diligence and efficiency. A statement by the bank said “junior officers of the bank who had acquired higher academic qualifications were also upgraded to positions that correspond with their new skills, competencies and capacity to handle higher job functions. The promotion […]

Rather than doctor their books and report non-existing profits, insurance and reinsurance companies in Nigeria may have resolved to tell their shareholders the whole truth about their performance by publishing their actual results, Patience Saghana writes

By Linus Ikechukwu MANY Nigerians used to think that the best thing to have happened to the country at the tail end of military dictatorship was the formation of the Peoples Democratic Party (PDP) in the late 1990s. It is now doubtful whether, indeed, the PDP is a national blessing or a curse to the […]

Market risk is the risk of loss in the value of a financial institution’s proprietary trading holdings in equity, debt, FX or commodity instruments, due to fluctuations in market prices. Market risk can also arise with the management of client’s moneys where financial institutions provide unhedged guaranteed minimum returns. A form of market risk also arises where banks accept financial instruments exposed to market price volatility as collateral for loans. Poor market risk management practises can lead to significant losses very quickly in volatile market conditions and also complete institutional collapse in severe situations.

Regular readers of this column over the years would most certainly have been exposed to a different perspective on the operation of the Nigerian economy. However, even if such adherents of the column accept the rationale of our proposals, and indeed, find them plausible; they may rightly wonder why the government and its responsible agents for monetary policy have turned deaf ears to what ordinarily makes a lot of sense with its huge potential for positively turning round the ravaged fortunes of our economy and our people.