Ray Echebiri
Articles by this Author
The Next CBN Governor: Whom Does the Cap Fit?
- By Ray Echebiri
- Published Monday 13th 2013
- Comment & Analysis
- Unrated
Mallam Sanusi Lamido Sanusi whose five-year term as governor of the
Central Bank of Nigeria (CBN) terminates May 31, 2014 has served an exit
notice. Sanusi had at a number of fora said that he would not seek a
second term as CBN governor. This leaves President Goodluck Jonathan
with the task of looking for a suitable successor to Sanusi. If the
search for a suitable governor for the Bank of England could take the
British Prime Minister, David Cameron, to far away Canada, we can bet
that the search for a new CBN governor must be a daunting task for
President Jonathan.
A Revolution Foretold
- By Ray Echebiri
- Published Tuesday 2nd 2013
- Comment & Analysis
- Unrated
Olusegun Obasanjo, former president of Nigeria had warned recently that
the high rate of graduate unemployment in the country could spark a
revolution someday. To be sure, that was a clear case of right message,
wrong messenger.
Nigerian Stock Market to Hit $1trn
- By Ray Echebiri
- Published Monday 11th 2013
- News
-
Rating:




Foreign investors and financial analysts have predicted that the
capitalisation of the Nigerian stock market will hit the $1 trillion
mark in five years.
Islamic Development Bank's $4bn Facility: Opportunity Waiting to be Tapped
- By Ray Echebiri
- Published Tuesday 27th 2012
- Insight
-
Rating:




So far, the Islamic Development Bank Group (IDB) has injected about $470 million into project and trade financing operations in various sectors of the Nigerian economy. But in the years to come, the bank plans to do far more than this. President of IDB Group, Dr Ahmad Mohamed Ali Al-Madani, stated that IDB is not a religious bank but a development finance institution in the mould of African Development Bank, Asian Development Bank, Inter-American Development Bank, and promised that in the next three years, the bank will extend a total credit of $4 billion to Nigerian businesses, governments and individuals. Clearly, therefore, the IDB presents a huge funding opportunity to Nigerian businesses, individuals and to the different tiers of government in Nigeria. Interestingly, all the lending of the IDB is based on the non-interest or profit-sharing banking model. In other words, beneficiaries of the IDB facilities do not carry the burden of compound interest on the facilities extended to them.
BusinessWorld 100: Fortunes of Nigeria’s Top Companies Nosedive
- By Ray Echebiri
- Published Monday 18th 2010
- News
- Unrated
THE global economic crisis took a toll on Nigeria’s largest 100 companies in 2009. According to the 2009 edition of BusinessWorld 100, an annual publication of BusinessWorld newspaper that focuses on the performance of publicly-held companies in Nigeria, the fortunes of Nigeria’s largest 100 (quoted) companies declined seriously during the year under review.
Jubilee Summit: Nigeria Celebrated from Business Perspective
- By Ray Echebiri
- Published Monday 5th 2010
- Insight
-
Rating:




Nigeria’s Golden Jubilee Business Summit and Cultural Gala Dinner
organized by BusinessinAfrica Events in London last week brought
together Nigerians and friends of Nigeria (individuals and corportates)
from far and wide. It was a great opportunity to celebrate Nigeria at
50 from a business perspective. Ray Echebiri who participated in the
summit reports that the consensus was that Nigeria has the potential to
be a great nation, but has definitely not become great yet.
Farouk Abdulmutallab Made Me a Liar
- By Ray Echebiri
- Published Tuesday 5th 2010
- Comment & Analysis
- Unrated
FOR me, it remains a trip to remember. There was no single dull moment.
It was either that Azu Ishiekwene (then Editor of the Punch, and now
executive director of the same newspaper), had literally got lost in
Borders Bookshop while combing the large bookshop for books that were
possibly out of print or Ibim Semenitari (then Editor of Board Street
Journal and now commissioner for Information in River State), had gone
out to fetch herself a cup of Starbucks coffee. Lost in thought, Azu
and I wondered if her keeping long meant she was negotiating to buy the
Starbucks company instead. It was fun all the way as we had the best of
the two worlds of work and leisure.
IMF Scores Nigeria’s Economy Low
- By Ray Echebiri
- Published Monday 27th 2009
- News
- Unrated
(L-R) Jameel Mohammed, group chief operating officer, Globacom and Olakunle Alake, chief operating officer of Dangote Group at the signing of MoU on the provision of communications solutions to Dangote in Lagos recently.
THE impact of the on-going global economic crisis on Nigeria’s economy
will be very heavy as the economy heads for its lowest growth in a
decade. In its World Economic Outlook (April 2009) released in
Washington D.C, the International Monetary Fund (IMF) projected that
the Nigerian economy will only grow by 2.9 per cent this year.


