By Moses Ebosele –
FBN Capital has signed a research Memoradum of Understanding (MoU) with Oxford Business Group (OBG).
Under the aggrement, a report by OBG will examine the Central Bank of Nigeria’s monetary policy, review the country’s recently-revised foreign exchange policy alongside broader efforts by the government to stimulate growth.
Also, the report will include analysis of the country’s new floating foreign exchange policy, which was enacted in June by the central bank.
FBN said: “The decision to allow the naira to float marks a distinct change from previous policy, which in the face of dwindling reserves had led to a widening gap between official and black-market exchange rates for the naira against the US dollar”
Also, OBG will look at the impact of the measures on the domestic supply chain, and assess the ramifications for bond trading and liquidity in the Nigerian market.
Other topics that the publication will cover include the Central Bank’s efforts to curb inflation, which remains above 9%.
The head of marketing and corporate communications at FBN Capital, Lolade Sasore, said: “Oxford Business Group is a recognised and respected source of business intelligence, and we are quite pleased about the collaboration. We are committed to working with strong partners to provide credible information, analyses and perspectives which will support decision-making and encourage investment into the country in the long term.”
OBG’s country director in Nigeria, Izabela Kruk, explained that with 2016 expected to be a significant year for Africa’s largest economy, FBN Capital’s contribution to the Group’s forthcoming publication was particularly welcome.
Kruk said: “The Report: Nigeria 2016 comes at a pivotal point in the country’s development, with efforts to diversify the economy taking on added urgency due to lower global oil prices,” she added “FBN Capital is playing an active role in helping Nigeria to broaden its economic base and reduce its reliance on hydrocarbons and their deep knowledge of the local market will help further expand our coverage of Nigeria’s key financial sectors.”
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