Daniels Adeoye, CBN, Global Trend, Central Bank Governor of Nigeria, Governor, Mallam Sanusi Lamido Sanusi, financial pinnacle, economy, kitchen cabinet, global financial, International Monetary Fund, IMF, United States, America, Janet Yellen, California
A currency crisis is induced by a decline in the value of a country's currency. This decline in value negatively affects an economy by creating instabilities in exchange rates, meaning that one unit of the currency no longer buys as much as it used to in
The recent announcement of a new automotive policy by the Minister of Trade and Investments, Dr. Olusegun Aganga, has been met with a lot of excitement. The stated objectives of the new policy are to encourage local manufacturing of vehicles and to enfo
With its high poverty levels and low degree of industrialization, Africa arguably faces the largest development gap of any region. Beyond the usual misery indices and welfare evaluation metrics, we have fundamental challenges that impede meaningful sustai
Aliko Dangote, Africa’s wealthiest man, recently signed a multi-billion dollar contract to build Nigeria’s largest oil refinery, and turn the oil-rich country into a petroleum exporter. The promise of job creation — the refinery project is expected to emp
India's relentless search for hydrocarbons to fuel its booming economy has managed the rather neat diplomatic trick of annoying Washington, delighting Tehran and intriguing Baghdad, all the while leaving the Indian Treasury fretting about how to pay for i
Nigeria, a country with a large domestic market of more than 160m people, spends huge resources importing consumer goods from China that should be produced locally. We buy textiles, fabric, leather goods, tomato paste, starch, furniture, electronics, buil
Last week the market's celebration surrounding the partial Fiscal Cliff agreement was cut short by a surprise from the minutes of the Fed's December meeting. You see most had expected the minutes to be a relative non-event
According to the United Kingdom�s Higher Education Statistics Agency (HESA), Nigeria was the third non-European Union country sending the highest number of students to the United Kingdom in recent time. In 2009/10, it had 16,680 students in UK High
The global economic landscape has evolved quite interestingly over the last decade with a paradigm shift the popular appreciation of the primary drivers of global growth. The introduction of the “BRIC” (Brazil, Russia, India and China) acronym in the ear
Amidst several unequal estimates, a World Bank report in 2011 conservatively put the cost of addressing Nigeria infrastructure challenges at US$14.2 billion (N2.275 trillion) per annum over a decade. This fund will be applied to meet an illustrative targe
The worst drought to hit the USA in over half a century has sent international food prices climbing again. Prices for corn and soybeans (the USA is the worlds biggest producer of both) last week passed the peaks they reached during the 2007/8 global food
The latest Euro crisis summit was different from the 19 others that preceded it in one very important respect: The PR department of the EU played this one very well. Rather than hopes being raised only to be dashed, this time they were dashed before the s
Gross Domestic Product — GDP — may have its limits. But it's a useful, broad measure for looking at national economies. It's basically the total dollar value of all of the goods and services a country produces in a year.
That is what economic theory has tried to ignore. Scientific method needs an independent criterion, by which the truth or validity of its theories can be judged. Natural phenomena constitute such a criterion; social phenomena do not.
JPMorgan Chase (JPM) lost $17.5 billion this week. It all springs from a bad trade that’s still going bad — to the tune of $2 billion and potentially $3 billion. But then there’s the 9.3% plunge in JPMorgan’s market capitalization — adding another $14.5 b
In trying to understand the complex causes of this year’s wave of unrest across the Arab world, people sometimes ask whether the real drivers were economic, rather than political. After all, food prices have been rising sharply: in January this year, when
As we rode from Ikoyi towards 3rd Mainland Bridge, a friend remarked that this area looks like Washington, DC. Yes, it looks like the area outside of Washington, DC, leading into Crystal City, Virginia.
Banks' lending business is usually strongly linked to collateral established to secure counterparties' obligations. Recent volatility in the economic climate has triggered a large number of margin calls and highlighted certain factors that should be taken