Columns

Banking In Austere Times, By Ifeanyi Uddin    

The banking industry again came under pressure last week. Over the last five years, monetary policy has withstood the worst of adjustments to the myriad macroeconomic constraints endured by the country. With the Treasury continuing in business as usual, the nation's banks have seen profits decline (or fail to rise…
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Columns

The “Mythification” of Our Memories, By Ifeanyi Uddin

Segun Toriola’s jaw-dropping defensive play against Singapore's Ning Gao in which he successfully went through a 41-shot rally in the second match of the men's team table tennis semi-final was, for me, a major highlight of the 2014 Commonwealth Games in Glasgow. Nostalgic, it was. Coming of age in the…
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Columns

February 14, 2015 and the Space for Ideas, By Ifeanyi Uddin

Across our political space, one gravamen is repeated to the point of monotony: how money now dominates our politics. The conversation around this takes place with varying degrees of sophistication. It includes the excited disputation by the newspaper vendors’ stand (close to the bus stop) about how much each got…
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Columns

Subsidy? Cross-…? Counter-subsidy? By Ifeanyi Uddin

In its time-lapse response to the bottom falling out of the global oil market, the Nigerian government announced a series of measures, under the rubric of a new “austerity programme” (our last experience of this phrase was far from salutary), designed to tide the economy over the downside consequences of…
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Economy

Making Sense of Our New Policy Direction, By Ifeanyi Uddin

The central bank's (CBN) rate-setting committee, the Monetary Policy Committee (MPC), ended its November meeting (last week) with arguably the boldest steps it has taken of late. While the decision to move the mid-point of the naira from the fictional position (N155/US$1) it has been held at by the CBN…
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Ifeanyi Uddin

Parking the Bus for the Naira, By Ifeanyi Uddin

Over the last couple of weeks, as the price for Bonny Light (Nigeria's benchmark crude) touched new depths on the global markets, and our export earnings dropped, conversation has fixated on appropriate fiscal and monetary policy responses. In slow motion, the fiscal side declared an “austerity programme”, details of which…
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Columns

As the Economy Prepares for the Winter Season, By Ifeanyi Uddin

“All is well!”, they shout. But the place smolders still. Our Emperor? In the end, not even Nero Claudius Caesar Augustus Germanicus mattered any more after the “Great Fire” destroyed Rome in 64AD. However, Thursday, last week, the Central Bank of Nigeria (CBN) issued two circulars that were essentially a…
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