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Oscar N Onyema, CEO, Nigerian Stock Exchange (NSE) : Interview
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Interview : Oscar Onyema What are the prospects of the NSE broadening its current product offering? OSCAR ONYEMA: The prospects are very positive. Earlier in 2018 we announced our strategic plan for 2018-21, which calls for the NSE to pivot towards a more customer-centric business model. Through the use of data analytics we aim to fully understand the demand for new products, and thus improve on…
Interview

Ibukun Adebayo, Head of Middle East, Africa and South Asia, International Markets Unit, London Stock Exchange Group (LSEG) : Interview
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Interview :Ibukun Adebayo Could the Nigerian diaspora bond issued on the London Stock Exchange be considered a model for other diaspora bonds? ADEBAYO: The Nigerian diaspora bond was the first to be listed on an international exchange, and it was groundbreaking for several reasons. First is its size, which was just over $300m. Second, as well as being listed in London, it was also registered…
Interview

Abubakar Jimoh, Managing Director and CEO, Coronation Merchant Bank : Interview
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Interview : Abubakar Jimoh How has the merchant banking segment developed since the 2013 universal banking licence review? ABUBAKAR JIMOH: This policy action, which classified banks into commercial banks, merchant banks and specialised banks, led to the rebirth of merchant banking in Nigeria. At present, the number of merchant banks in the country has increased to five, with total assets of about…
Interview

Emeka Emuwa, CEO, Union Bank : Interview
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Interview : Emeka Emuwa In what ways has the recession impacted the Nigerian banking environment? EMEKA EMUWA: The recession has meant two very difficult years in every industry in Nigeria. The impact was felt first by customers and then by banks, with significant increases in the number of non-performing loans. The industry was affected differently across sectors, with bigger impacts in the oil…
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Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) : Interview
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Interview :Godwin Emefiele How have Nigeria’s monetary policies succeeded in boosting the economy since the recession? GODWIN EMEFIELE: The decline in export earnings due to the falling oil prices that started in late 2015 significantly impacted GDP growth, causing inflation to rise to over 18% in January 2017 and external reserves to fall to a low of $23bn in October 2016. In response to…
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Babatunde Paul Ruwase, President, Lagos Chamber of Commerce and Industry: Interview
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What progress has Nigeria made in terms of fostering greater economic diversification? BABATUNDE PAUL RUWASE: Nigeria has made very appreciable progress in several sectors. The most significant of these has been in agriculture, where big strides have been made in rice production. Foreign exchange (forex) is relatively stable now, and this has had a noticeable impact on the ability to diversify. The…
Interview

Peter Ashade, CEO, United Capital : Interview
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Interview :Peter Ashade What factors affect the respective performances of non-oil economic sectors? PETER ASHADE: The performance of the non-oil economy remains closely linked to hydrocarbons, particularly through foreign exchange, given that oil exports account for the bulk of dollar earnings and the economy remains hugely import-dependent. The performance of the these sectors also relies…
Interview

Babatunde Fowler, Executive Chairman, Federal Inland Revenue Service (FIRS) : Interview
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Interview :Babatunde Fowler On what metrics can the FIRS assess the performance of the Voluntary Assets and Income Declaration Scheme (VAIDS)? BABATUNDE FOWLER: We had a federal tax amnesty in 2016, during which quite a number of organisations came forwards. VAIDS marks the first time that a tax amnesty has been opened up to both corporations and individuals. At the federal level, we received…
Interview

Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission (NIPC) : Interview
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Interview :Yewande Sadiku In what ways do perceptions of prospective investors differ from the experience on the ground? YEWANDE SADIKU: The biggest concern that investors raise relates to some inconsistencies between what the regulators announce and what investors experience when they set up their business. Furthermore, regulatory agencies often give the impression of heavy-handedness. To…
Interview

Patricia Scotland, Secretary-General, Commonwealth : Interview
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Interview :Patricia Scotland How could trade and investment in Nigeria benefit from Commonwealth ties? PATRICIA SCOTLAND: Profound changes are taking place in the global trade landscape, including in the technology and governance frameworks that underpin contemporary trade in goods and services. This dynamic environment presents challenges, but also enormous opportunities to expand and deepen…