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Daily Business News Brief – December 9th, 2022

9
Dec


Monetary policies can’t tame rising inflation — Omotunde – Punch
Chief Investment Officer of Afrinvest Management Company, Robert Omotunde,  in this interview with Uthman Salami, sheds light on some policies that are hurting the Nigerian economy. All the deposit money banks fared better in their recent financial statements. Why do you think the sector is doing well? Well, I think that Nigerian banks are resilient. We know how they have come in the last 17 years. There has been recapitalisation from as low as N2bn to N25b……………..Read More

The CBN must fix eNaira’s image problem – Nairametrics
The Central Bank of Nigeria‘s digital currency, the eNaira, which was introduced a year ago as the first digital currency in Africa, has not received the positive response anticipated from its Crypto-savvy populace. The development of blockchain has contributed to the evolution of the idea of money and the monetary system. Additionally, it is undeniable that more people seem to be accepting digital currencies as a form of payment..……….Read More

Banks receive redesigned notes ahead of December 15 policy commencement date – Businessday
The Central Bank of Nigeria (CBN) has commenced the distribution of the newly redesigned naira to the banks in readiness for issuance to customers as the new policy kicks off December 15, 2022. Godwin Emefiele, CBN’s governor disclosed this on Thursday during a visit to President Buhari in his Daura home, Katsina state………….Read More
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