These meetings are biannual statutory meetings of the Finance ministers and Central Bank Governors, from over one hundred and eighty countries of the world. We held meetings with some international banks who are thinking of developing some relationship with the Central Bank as well as Ministry of Finance and the Federal Government. We also held meetings with some rating agencies to provide insight into the Nigeria economy and what we are doing to support and grow the Nigerian economy.

AT the recent Financial Times Africa Summit in London Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele, defended his foreign exchange policy, which has tended towards administrative controls since the begining of this year. He had contended that the policy had so far ensured relative stability in the foreign exchange market and the value of the Naira against major world currencies.

Insurers are apprehensive that the industry will suffer significant drop in premium income this year owing to the slowdown in economic activities occasioned by the slide in crude oil prices and Naira depreciation. The growth of economic activities in the country, as measured by the growth rate of the Gross Domestic Product (GDP) slowed down to 2.35 per cent in the second quarter from 3.96 per cent in the first quarter.

Incidentally, if you ask any of its supporters what it is designed to achieve, the answer will be, “to curb corruption”. But will it? If historical experience in Nigeria is to be our guide, the correct answer will have to be “very doubtful”. Let me quickly explain the reasons. While conducting the research which resulted in the book PDP: CORRUPTION INCORPORATED, what was most striking to me was how much corruption was accounted for by transactions and activities which are not reflected in the balances in the bank accounts of Ministries, Departments and Agencies, MDAs.

Sango-Ota—The Federal Road Safety Commission, FRSC, in Ota, Ogun, said one person died, while six others sustained various degrees of injuries in an accident involving a petrol tanker and four vehicles at Owode Junction on Saturday.