Zenith Bank says it is prepared to support Nigeria’s Information and Communications Technology (ICT) and creative ecosystems with funding, which the bank calls a critical tool for participating in the Fourth Industrial Revolution (4IR). GMD and CEO of the bank, Ebenezer Onyeagwu discussed this with CNBC Africa’s Christy Cole at the bank’s Tech Fair in Lagos.
The World Bank says the outbreak of the COVID-19 pandemic is expected to push five million more Nigerians into poverty this year as the pandemic is threatening the ability of Nigerian households to generate income to meet their basic consumption needs. Bismarck Rewane, CEO of Financial Derivatives joins me from Lagos for this conversation.
No doubt Nigeria's currency has come under pressure in recent months; the Central Bank of Nigeria says it is working towards the gradual unification of exchange rates. But what does the CBN's recent move in asking lenders to bid for dollars at 5 per cent above the official rate mean for the markets going forward? Victor Aluyi, Head of Portfolio Management at Comercio Partners joins CNBC Africa for more.
The World Bank says the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
Vetiva Capital Management says although Nigeria’s total debt to GDP ratio is below the suggested prudential upper band of 40 per cent for developing economies, a higher than projected fiscal deficit, high cost of borrowing and weaker Naira may further limit Nigeria’s fiscal space and reduce the capacity to respond to the Covid-19 crisis. Mosope Arubayi, Chief Economist at Vetiva joins CNBC Africa for more.
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