Years ago, while still in the university reading economics, I came across a pamphlet warning economists to always go beyond abstractions when discussing the effect of economic policies. He pointed out that the 10 per cent annual GDP growth claimed by the Communist USSR was purchased at the cost of over two million deaths a year.Read More
The prospects and the problems associated with the Sovereign Wealth Fund, SWF, are often inextricably intertwined because the funds to be managed are still subject to the judgments of “doubts and certainty” exercised by the people selected to manage the funds.Read More
As the year 2011 comes to an end and the President is getting set to present the 2012 budget before the National Assembly, one of the most contentious aspects of the proposed appropriation bill is the Sovereign Wealth Fund, SWF.Read More
Last week when investors on the Nigerian Stock Exchange were taking in the bad news that the All-Share Index, ASI, had reached its lowest level in eight years, the Council of the NSE made what was supposed to be a re-assuring announcement.Read More
“We agree that the work involved is quite tedious but we will try to make the environment better and stronger. There is a lot of work to do in SEC and NSE and we will contribute our quota to building a world class market that all of us will be proud of”.Read More
The triumph and the tragedy Soludo as we have noted, succeeded at first with consolidation. He probably even succeeded beyond his own dreams because in less than three years after consolidation, four Nigerian banks were among the 1000 largest banks in the world; as it turned out, only on paper.Read More
And for Soludo, security could only be guaranteed by creating banks which were “too big to fail.” Like the author of the great ship, called Titanic whose builder boasted that “even God cannot sink it,” Soludo, as we had noted earlier, got his wish.Read More
It is inconceivable that the Federal Minister of Finance and team leader of the National Economic Management Team, would imagine that she can succeed with her assignment without a strong banking sector behind her.Read More
Last week, the first part of this series ended abruptly midway into the title SOURCE OF CHEAP FUNDS. The rest would make no sense published; so permit me to start the section all over. Dele.Read More
There are only two families in the world, my old grandmother used to say, the Haves and the Have-nots”.Read More
“The worst thing that can happen to a leader is to look back and discover nobody is following”.
President John Kennedy, 1917-1963.
Dr Okonjo-Iweala already received my sincere welcome back to the hot seat, which had got increasingly hotter, for her courage and patriotism – even if the courage borders on foolhardiness and the patriotism laced with a martyr complexRead More
It is true that many countries do not have the money to pay for the policies to promote employment and growth”.
New York Times September 2011.