First Bank of Nigeria Capital has signed Memorandum of Understanding with Oxford Business Group(OBG) to examine the Central Bank of Nigeria’s monetary policy, reviewing the recently revised foreign exchange policy alongside broader efforts by the government to stimulate growth.
The analysis which is titled The Report: Nigeria 2016 will include examination of the country’s new floating foreign exchange policy, which was enacted in June by the central bank and 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.
According to the statement , the report will support coverage on Nigeria’s key financial, economic and monetary issues.
“To deepen OBG’s analysis on these issues, FBN Capital has signed a first-time memorandum of understanding (MOU) for the publishing firm’s forthcoming report. Serving as a research partner for the next three editions of The Report: Nigeria, the company will work closely with OBG’s team to support coverage on Nigeria’s key financial, economic and monetary issues. FBN Capital will also be responsible for compiling and producing the Capital Markets Shares Analysis of The Report: Nigeria 2016.
Lolade Sasore, the head of marketing and corporate communications at FBN Capital, 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, said 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.
“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 said. “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.”
“The Report: Nigeria 2016 will be a vital guide to the many facets of the country, covering a range of sectoral developments in oil, industry, infrastructure, banking and telecoms, among others. Oxford Business Group’s report will also contain interviews with leading representatives from the public and private sector, and is being produced in collaboration with the Nigerian Economic Summit Group and the Nigerian Investment Promotion Commission. The publication will be available in print and online.