The decision by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to cut the cash reserve ratio (CRR) of the deposit money banks to 25 per cent and retain the benchmark rate at 13 per cent will result in recovery in the NSE Banking index, Ezcellon Capital, an investment banking firm, said in a report.

After tax profit amounted to N121.81 billion for Dangote Cement at the end of the second quarter, an increase of 27.6% year-on-year. Full year projection indicates an increase of over 40% in net profit for the company in 2015. It posted a net profit of N159.5 billion at the end of 2014. A new peak in profit is therefore expected from the company this year. Its peak profit so far is the N201.20 billion it reported in 2013.

Our thought of TSA given the government position is essentially that you do not want government borrowing government’s money hence government is trying to ensuring that it is not borrowing anyhow money and it can account for all the money it got. TSA in itself is not a bad a idea, banks naturally are a bit reluctant in pulling it back because they need to unwind some transactions that are wrap around them.

The Nigerian economy is in a tough spot right now. The low oil price environment is obviously hitting oil exporters themselves, but also the government is quite dependent on oil revenue. In addition to having this primary level sort of impact, there is another kind that arises from the very policies that government is putting in place to deal with the situation.

Central Bank of Nigeria, CBN, said it has so far set aside the sum of N2.02 trillion as intervention funds for operators in the various sectors of the Nigerian economy to access. CBN Governor, Mr. Godwin Emefiele, who was represented by the bank’s Ag Director, Development Finance, Dr. Olaitan Adeola, disclosed this at a stakeholders’ forum titled: “Accelerating Enterprise competitiveness and growth in Nigeria: Building capacity for sustainable development’ in Lagos. The forum was organised by African Management Services Company, AMSCO.

The Bankers’ Committee has reiterated the strategic importance of the Micro, Small and Medium Enterprise (MSMEs) to the growth of the nation’s economy. This was stated at a workshop in Abuja on the N220 billion Micro, Small & Medium Enterprise Development Fund organised by the Bankers’ Committee’s sub-committee on Economic Development, Sustainability & Gender in collaboration with the CBN.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Baba Haruna Jauro, was the guest of Vanguard editors when he paid a visit to the corporate headquarters of the media house penultimate week. Jauro spoke, during the session, on issues bordering on maritime in the country as well as the implementation of the Cabotage Act among others. Excerpts:

Mrs. Franca Nkwoji, is the Founder/Chief Executive Officer of Frandach Consulting Limited, a professional and reliable school consulting firm. In this interview with Sunday Vanguard, she speaks on the nation’s educational system, child’s upbringing and other issues.

The report went on to state: “The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that the country’s economy could slip into recession next year if proactive steps were not taken by the Federal Government to revive key sectors” .. Ordinarily, people reading that statement, and believing it, would be excused for thinking that the CBN and Governor Godwin Emefiele don’t already know some truths which render their statement more political and self-serving than economic. Unfortunately, the CBN and the Monetary Policy Committee already know that a recession in 2016 is inevitable.

Akpan Ekpo, a professor of economics, is Director General, West African Institute for Financial and Economic Management (WAIFEM). He speaks on the warning by the CBN Governor, Mr. Godwin Emefiele, that Nigeria’s economy may go into a recession in 2016.