Dear Subscriber,

Moving with the tide

Over the past five years, digitization has significantly transformed several industries, with the financial sector being no exception. Customers now enjoy unparalleled convenience, enhanced security, and a truly personalized experience. In this rapidly evolving environment, keeping up is not just important—it’s essential. As Chris Skinner, the globally renowned strategist and author, brilliantly put it, “Ignoring technological change in a financial system driven by technology is like a mouse starving because someone moved their cheese.” In the lifestyle section of this Unity Bank digest, we present seven ways to engage in seamless online financial services.

Too fast, too soon

Nigeria’s headline inflation eased significantly in August to 32.15% after a slight respite in July. However, inflationary pressures are mounting once again. Key factors include an increase in petrol prices by over 50% to N900/litre and severe flooding in Borno, a key food-producing state. The surge in petrol prices is expected to heighten transportation costs, which will likely cascade into higher prices for goods and services. Additionally, the flooding in Borno could disrupt food supply chains, exacerbating food inflation. These developments, including the forecasts of potential flooding in key agricultural regions such as Benue, Anambra, Delta, Jigawa, and Kaduna, threaten to reverse the recent moderation in inflation, thereby worsening the ongoing cost of living crisis.

This edition of the Unity Bank Digest provides a comprehensive analysis of these economic trends and engaging lifestyle and entertainment stories for your reading pleasure.

Enjoy your read!