Finance

Friday, 24 June 2016 04:08

Buharinomics & Devaluation of Naira

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In retrospect, as a country, Naija nation never experienced a huge recession in any measures historically, and given that context, the great depression typified by unprecedented decline in economic activity majorly only when stock market is completely in comatose, banks were closed down and macroeconomic factors destabilized. The major recession in history was generally to have occurred between 1929 and 1939. Although parts of the economy had begun to recover by 1936,then the high unemployment rate persisted until the Second World War but the reversed circumstances pixilated Nigeria context...despite our high unemployment rate domestically our macroeconomic stability remain solid, we…
In the last decade, the paradigm of Migration and Development (M&D) has shown that migration and development are closely interrelated fields and that migrants can strongly contribute to development in the country where they come from. According to the World Bank, the volume of money sent by migrants around the world to the African continent is currently bigger than the Official Development Aid (ODA) and reached nearly $40 billion (2.6% of the GDP) in 2010. Remittances not only enhance the livelihood of families in developing countries, but can also boost economies, finance micro-credit schemes or infrastructures and contribute to development…
 When the economy fails to expand and the gross domestic product (GDP) of a country declines over two consecutive fiscal quarters or more, typically the rate of unemployment rises and house prices decline. This is what is more commonly known as a recession. At its defining centre is the burden of debt. The UK has experienced 2 recessions in recent years (2008-9 and 2010-11) and narrowly avoided a triple-dip in 2013, when the economy stuttered to a 0.3% rise in growth. Nevertheless, since 2008 the UK economy has stagnated with small spurts of growth compounded by ensuing contractions. The economy…
Presidency to World bank? I think it goes beyond merits .... and seemingly this process is, it's quite a learning curve for us all especially for folks from the continental Africa. It is indeed, very sad, that despite all effort to showcase our talents , we are been sidetracked, deprived beaten to it over and over again. Personally, I have great respect for Dr. Ngozi okonjo-Iweala as I have met with her on various interactions, quite number of times, the latest encounter with her was at Banking Reform Forum at Ritz Hotel in Washington DC, she as always, well composed,…
Friday, 06 April 2012 18:14

Doctors as Founding Presidents

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Summary The European welfarist concept of healthcare management is outdated in the sense that the system hardly equips African doctors for the economic realities of our socio-political transformations. Smart leaders of medical societies are also able to assert political leadership capabilities by instituting an empowerment agenda that the schools can build upon. However, in the end, the financial success of any business venture rests on its management, especially its president. Introduction There exists a need for African doctors to begin to revisit their business models. The European welfarist concept of healthcare management is outdated in the sense that the system…
It is very unfortunate that, without much reflection, the House of Representatives, on Thursday 21st July 2011, reportedly swallowed hook, line and sinker all that the Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, fed it as the rationales for the introduction in Nigeria of Islamic banking and daily cash withdrawal limits. Yet, the House has denied approving Islamic banking and summoned Sanusi to re-appear before it to give further clarifications on same. Although I have my grouse with the introduction of Islamic banking in Nigeria, I leave that for now, and face the daily cash withdrawal limits. CBNAccording…
It really hurt to be an American right now. Real GDP per person is a figure far more real to the average citizen than GDP growth per quarter, especially in countries with growing immigrant populations like Canada and the United States. If you take a look at the graph below, you'll see that the real GDP per person in the U.S. is still down 4% from pre-recession levels. And Nigeria is between Russia and turkey give lateral measures not structural. In China and India, it has jumped 35% and 22% respectively. Of the G7 countries, Germany is the only one…
Wednesday, 10 August 2011 04:02

Several Arab Countries Reject Islamic Banking

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Many Arab countries including Kuwait, do not want anything to do with Islamic banking. They consider it archaic, unworkable and counterproductive to the good health of free enterprise. Islamic banking retards entrepreneurship flair because of interference in too wide a range of businesses that the bank has no expertise or adequately trained or qualified personnel to nurture to success, as joint business partner of the businesses of its loans. Islamic banking is anti-globalization, which is the current vogue of world commerce. Two of the most conservative Islamic countries in the world, Iran and Pakistan, dabbled in Islamic banking but soon…