That ill-advised suspension of banks from forex market
Although all the nine banks –First Bank, Diamond Bank, Sterling Bank, Skye Bank, Fidelity Bank, United Bank for Africa, Keystone Bank, First City Monument Bank, and Heritage Bank — suspended from the foreign exchange market have since been readmitted by the Central Bank of Nigeria (CBN), the episode points to the need for caution when the regulatory authorities decide to wield the hammer to redress perceived violations.
Recession: FG, CBN to blame for economic woes — WAIFEM DG
Director-General of the West African Institute for Financial and Economic Management, WAIFEM, Professor Akpan Ekpo, weekend, blamed the Federal Government and the Central Bank of Nigeria, CBN, for the country’s current economic woes and its recent plunge into recession.
Operation Crocodile Smile: Delta community cries out over arrest of septuagenarian, 3 others
WARRI—The people of Akperhe Olomu community, Ughelli South Local Government Area, Delta State, have accused troops of the new military task force, Operation Crocodile Smile, of violating the fundamental rights of Mrs. Amrevweatefa Odada, a septuagenarian and three others in custody at the 3 Battalion, Effurun Barracks in Uvwie Local Government Area of the state.
This devaluation ‘be like’ 419!
“The IMF and other respectable International financial agencies and local economic experts, have commended the recent devaluation via a floating Naira exchange rate, as an ‘investment’ that would ultimately yield great dividends. We are encouraged to believe that the new forex regime will recharge our economy, sustain inclusive growth with increasing job opportunities, and also reduce our almost total dependence on crude oil, by facilitating the actualization of a diversified economy. It is also suggested that devaluation would create a level playing ground and attract investors to build more refineries and similarly encourage marketers to import fuel.
We want to make financing more accessible – Letshego
I would start with the opportunity, the size of the market, the size of the under-served in this market which is 37 million about 18 times the population of Botswana, the opportunity is very large. Secondly, we saw a large number of micro-finance businesses doing similar things without any differentiation which we think would be an opportunity to bring to the market, whether it is in the education, health or agriculture and we do low income housing.
Price of bread is now N300
Announcement on shop window at Odunlami Street, Lagos Island. Odunlami Street, for those not familiar with Lagos Island, is famous for the shops selling coffins and arranging funerals. The bread shop is stuck between two of those shops. So its announcement concerning the increase of bread price was made with all the finality of a death sentence pronounced by a hanging judge. Bread, as the saying goes, is the staff of life. No food is more universally consumed than bread; the second is rice.
