Dear subscriber,
The MPC maintained status quo again – for the 13th consecutive time. However, growing hawkish sentiment on the back of rising external imbalances may mean that a rate-cut is off the cards for the time being.
As the dust settles in the wake of the revocation of Skye Bank’s operating license following its inability to recapitalize, a number of concerns arise. Top of that list is whether the current regulatory framework and corporate governance codes are robust enough to have prevented the meltdown in the first place. Depositors might be safe, but shareholders have to contend with the aftermath of N10.7bn in value becoming nothing overnight.
Nigeria has approximately seven million pension accounts. This number pales in comparison with the size of the Nigerian labour force – 69 million. This translates to 62 million people potentially becoming a burden to future generations or the government upon retirement – a ticking time bomb.
In this edition of the FDC Bi-monthly publication, the FDC Think-Tank analyzes these issues and their implications on businesses and the economy at large.
Enjoy your read.
