Dear Subscriber,

Let go and let live or live and let die

In 1973, what was commonly known was the slogan “Live and Let Die,” popularised by the Ian Fleming’s James Bond-inspired film. However, the younger generation has coined a new slogan of “Let go and let live”. Letting go is not solely about traumas; sometimes even beneficial elements like technology require a pause. This is why it is important to unplug once in a while. Starting our days with phone checks and spending prolonged hours staring at large office desktops can have a substantial impact on our productivity. As Anne Lamott wisely stated, ‘Almost everything will work again if you unplug it for a while, including you.’ This reinforces the significance of taking breaks. That is why we have provided the best ways to digitally detox in the lifestyle section of this Unity Bank digest.

And so it begins…

The first two weeks of 2024 have been eventful, to say the least. In less than 20 days, the naira has depreciated to an all-time low of N1,355/$ and Nigeria’s headline inflation rate has accelerated to 28.92% (December 2023). However, a bright spot is that the World Bank has predicted a 1% rise in Nigeria’s growth rate to 3.3% in 2024.

Moreso, the country’s stock market has climbed rapidly to over 90,000pts (90,063.25pts) in January. The pace of its gains has positioned it as the best performing stock market globally, surpassing Argentina. OMO stop rates have also risen to 17.5%p.a from 15%p.a in December 2023, which will help curb excessive money supply growth (39.33% y-o-y) in the country and tame the hydra headed problem of inflation.

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

Enjoy your read!