Some Leading Economic Indicators, LEIs, are pointing to a year-on-year contraction in growth in January 2016, which may see Nigeria’s economy returning a growth rate of less than one per cent in the first quarter, 2016, if the trend continues. But some other international reports indicate that the development is likely to be a global phenomenon though sub-sahara Africa and other commodity dependent economies which include Nigeria, may be worst hit.

Everyday consumers routinely encounter marketing efforts that promote an endless variety of brands and products. Unsurprisingly, consumers are weary, guarded, and circumventing any attempt by marketers to gain their attention. Experiential marketing thus engages consumers on a more intimate and personal level by building meaningful connections through shared moments and events. Princewill Ekwujuru sought the views of Gil Kimani, new Managing Director of EXP Marketing Nigeria, who has had experiences in African markets.

If Nigerians heed the call by the Consumer Advocacy Foundation of Nigeria (CAFON) and Coalition of Nigerian Consumer Protection Associations, banks across the country, on Tuesday, March 1, will be empty. The group wants Nigerians to boycott the banks on that day in protest against alleged arbitrary charges imposed on customers by the financial institutions. This is coming weeks after the Central Bank of Nigeria (CBN) imposed N50 on customers as compulsory stamp duty on deposits of N1,000 and above. The charge, however, is collected on behalf of NIPOST and the Federal Government and it goes to the Federation Account. Only last week, the CBN said it got banks across the country to return excess charges, estimated at N6.2billion, to customers.

Control Risks, a global risk consultancy firm, yesterday said that the Federal Government fight on corruption, economic reforms and quick passage of some important bills before the National Assembly will boost the economy.

Ecobank Nigeria on Thursday said that the recent reorganisation that affected some senior staff was designed to strengthen the bank’s business across all markets.

The Central Bank of Nigeria (CBN) yesterday, said that bank accounts without the Biometrics Verification Number (BVN) would be operated as “No Customer Initiated Debit”.

The Nigerian Agency for Food and Drug Administration and Control (NAFDAC), has announced the banning of foreign beans into the country except those screened by the Agency.

The improving fortune of the naira in the parallel market was reversed yesterday as the currency depreciated to N355 per dollar in the market.

The assumption that Nigeria is divided between those who “want” devaluation and those who oppose it is a false appearance. Any rational Nigerian, especially middle class individuals, who can be assumed to be rationally self-interested “want” a strong currency so that they can maintain real purchasing power and lifestyles in a globalized consumerist economy.

The Nigerian Shippers’ Council (NSC) has solicited for support of Nigeria Customs Service to enhance the efficiency of Nigerian ports and make it a hub for the sub-region.