Last week, in a surprise announcement, the CBN governor halted the sale of the apex bank’s FX to Bureau De Change (BDC) operators. The statement, and reasons given for the action, gave us a feeling of déjà vu – the CBN did this in 2016. So, we took a trip down memory lane and explored …
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Author Archives: merchant-bank
FX policy déjà vu
Who moved my cheese? An exposition into the changing dynamics of the traditional business environment
The book – Who moved my cheese by Dr. Spenser Johnson – is both a literal masterpiece and is indisputably relevant in modern leadership and business strategy. It is a tale of four characters who lived in a maze and their love for cheese. The lessons hidden in the stories have resonated in corporate board …
More →MPC likely to hold rates
The monetary policy committee (MPC) meets today and tomorrow. At its last meeting held in May, the committee was faced with two broad options: address the high inflationary pressure or pursue measures to support the economic recovery. See more details below. FX Last week, the exchange rate at the Investors and Exporters Window (I&E Window) …
More →Coronation Merchant Bank to host a webinar on Capital mobilization through the Private Markets
Lagos, Nigeria Nigeria’s leading financial institution, Coronation Merchant Bank, is set to hold the July edition of its Interactive Session themed “Capital mobilization through the Private Markets” on July 26, 2021. Delivering the keynote address will be Bola Onadele Koko, the Chief Executive Officer of FMDQ Group. The session will also include a panel discussion …
More →Inflation on the downtrend
Last week, the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report for June 2021 showed a moderate decline in the headline inflation to 17.75% from 17.93% recorded in May 2021. We attribute the slowdown to the effect of the high base from the previous year. The trend over the last three months suggests …
More →Nigeria’s Oil Conundrum
As oil demand is expected to grow strongly in the summer months, the OPEC+ alliance is still unable to reach an agreement on oil supply going forward with mixed results for the Nigerian economy. This month, the Senate passed the Petroleum Industry Bill (PIB); it is expected to create efficient and effective governing institutions with …
More →CBN funding the government
In times of recession, and of a budget shortfall, it is only normal to expect a central bank to lend money to its government. However, in Nigeria, it appears to have become a habit. And the stock of debt is mounting. See details below. FX Last week, the exchange rate at the Investors and Exporters …
More →Leveraging Risk Intelligence as a new Competitive Tool
The business environment has witnessed a major shift heightened by the COVID-19 pandemic which has compelled organizations to be more dependent on technology. With most businesses moving to the cloud and going digital, risk management approaches cannot remain the same. The question becomes, what is the role of risk intelligence in the emerging and dynamic …
More →Nigerian Banks: Resilience built in
Coronation Research, today releases its report on Nigerian Banks “Nigerian Banks, Resilience Built In”. The report shows that Nigerian banks’ earnings have been remarkably resilient over the interest rate cycle, their profitability is improving over time and their stock values are remarkably cheap compared to Ghanaian and Kenyan bank stocks. Our 10-year study of Nigerian banks shows …
More →The Incoming Wealth Shift
History has been a remarkably trustworthy guide to the patterns of wealth movement. Over time, the concentration of wealth has always been within the facilitators of industry. As the steam engine ushered in the industrial revolution, the world saw the rise of the industrialists and oil barons whose legacy then shaped the energy sector as …
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