Dear Subscriber,

Do you know that you can grow your business by as much as 60% with the effective use of social media? Research has shown that 44% of institutions depend on social media rather than traditional channels of communication with the market.

In Nigeria, telecom revolution is at its peak. Today, total GSM subscribers is up 42% to 174.02 million and internet penetration rose by 19% to 122.30 million. Interestingly, 16 million Nigerians have Facebook accounts, approximately 80% of social media penetration in the country.

So, if you haven’t jumped on the bandwagon yet, what are you waiting for? Check out the unity bank lifestyle section to see ways to improve your business through social media.

Meanwhile, Nigeria’s inflation slid further to 11.08% in July, its lowest level since January 2016. This was mainly due to lower food inflation resulting from a bumper harvest. Also, further tightening in liquidity due to the CBN’s aggressive mop-up through open market operations supported the decline.  The continued moderation in inflation is positive for policy makers although it is still above the CBN’s target of 6 – 9%.

This edition of the Unity Bank Digest contains an analysis of recent economic and social developments including the life and times of the first black female Nobel laureate – Toni Morrison.

Enjoy your read…