Lexy Blog

Sanusi Lamido sanusi, CBN Governor Following recent post mergers in the industry, competition for blue chip companies’ account, rationalise expenditures and industry positioning is anticipated following the emerging banking landscape, writes ALEXANDER CHIEJINA Globally, economies and financial markets were challenged in 2011 following the eurozone debt crisis and its undercurrents which swept through emerging and developed markets albeit in varied dimensions. Heightened sovereign risks for debt-ridden Greece sent shivers down the spines of European banks and the global corporate world with substantial exposures to the Euro. However, the United States of America continued to witness calls for reduced budget deficits amidst rising unemployment and worsening sovereign ratings. Going home, the Nigerian banking sector had come a long way; from the near death experience it had during the depth of the global financial crises in 2008. At that time, there was limited visibility on the impa

Lafarge Pakistan Cement    Recently, the Federal Government announced its preparedness to become self sufficient in cement production as manufacturers are expected to begin production in their respective expansion projects. While this has received applause, Nigerians are on the lookout for cheaper product, writes Alexander Chiejina If policy pronouncements alone could translate into good governance, the present administration would have been riding on high public approval rating. One of such pronouncements is the recent promise by President Goodluck Jonathan to stop the importation of cement into the country by the first quarter of 2012. This statement is in several quarters as a move towards making the nation self-sufficient in cement production for export to countries within the West African sub region, given the incentives in place to encourage trading and the African continent at large. With worldwide cement consumption projected to reach a record 3859 metric tonnes by 201

Customers at a Bank's ATM The desire to drive development of the payment systems in the country as well as improve effectiveness of monetary policy informed the introduction of the cash-lite policy by the Central Bank of Nigeria (CBN). This policy has however been greeted with several bottlenecks, even as the April deadline for full compliance hots up, writes Alexander Chiejina. As global financial systems become more connected, economies around the world gradually shift to the use of electronic system of payments to quicken the delivery of financial services. This is however prominent in developed economies and ‘The Asian Tigers’ where the use of technological devices have become ubiquitous. While several countries have continued to make giant strides in this direction and as a result, boosted trade and other economic activities, Nigeria and indeed several African countries have lagged behind as most businesses are conducted in heavy cash transactions. In its effort to r