Afriifa: Just for clarity. Refus does not reflect the sentiments of Nigerians regarding the war against Iran. I don't know which sane country will allow Iran develop nuclear weapons. For what? to do what with it? to wipe their neighbours as they often threatens? would you allow Iran build a nuke if you were either Israel or U.S?
sleek214: Which one is CIA station inside embassy . They hit the embassy and little damagyeas done to the embassy. Iran will fall. They can't even hit Israel again because all their launchers have been destroyed. They can't fire their ballistic, they only use drones now and the gulf states are their primary targets. Iran will definitely fall before the end of the month
The 165 primary school girls that were killed in a joint US-Israel attacks on Iran on February 28, are being buried en masse today. The school was targeted in the opening salvos of tomahawk cruise missiles fired by the U.S. Navy, resulting in the death of 165 schoolgirls and their teachers.
The 165 primary school girls that were killed in a joint US-Israel attacks on Iran on February 28, are being buried en masse today. The school was targeted in the opening salvos of tomahawk cruise missiles fired by the U.S. Navy, resulting in the death of 165 schoolgirls and their teachers.
masterfactor: We no send Nigeria news again. Na IRAN VS ISREAL AND USA WE DEY WATCH. seun is really cashing out with Iran vs USA and Israel war, see the way people Nigerians carry the matter for head.
Iran is collecting big time Israel dey collect USA dey collect ...
masterfactor: We no send Nigeria news again. Na IRAN VS ISREAL AND USA WE DEY WATCH. seun is really cashing out with Iran vs USA and Israel war, see the way people Nigerians carry the matter for head.
Iran is collecting big time Israel dey collect USA dey collect
PMForce: The video shows millions of Iranians mourning the death of the head of shia islam, and Head of state of Iran, Imam Khamenei in the Iranian city of Isfahan
But the evil countries that killed him felt he was not loved I'm sure no body will mourn either of them up to this extent in their own countries if they eventually die
Kemetian: Nigeria’s economic reforms have improved transparency that has helped restore confidence in Africa’s most populous nation after years of stagnation. In this exclusive interview, Patricia Sullivan, managing director, Global Head Institutional Cash Management at Deutsche Bank, Germany’s largest bank, described how the lender has been instrumental in connecting growth regions with correspondent banking solutions, Deutsche Bank’s long-standing relationship with Nigeria as well as how the various policies of the government are stabilising the economy.
BusinessDay
Interview excerpts:
What would you say has been the impact of the currency reforms that Nigeria has implemented since 2023? Have the reforms restored Nigeria on the global map?
I think the reforms have been a significant improvement in further opening up the country to globalisation. Some of the negative impacts, for example when exchange restrictions were too limited, led to financial crime risk with efforts to intentionally evade local controls and reporting requirements for what was legitimate business.
Reforms leading to a more rational environment is definitely positive from our perspective so that access and safety are achieved. If I may, it actually allowed a sense of organisation in the system of transactions, because with the FX caps that were in place, people who needed to access currency for good business were doing this in an underground way to try to import, export, to try to support socioeconomic. The perception that this gave to the world is that there’s an underground banking system and systemic lack of transparency.
But in fact, it was just good people, good businesses trying to promote access to markets and goods and so on in Nigeria. So it really has opened up the Nigerian market and really changed the perception that international banks had.
There’s been a flurry of positive news in Nigeria recently. The First Abu Dhabi Bank, for instance, which happens to be one of your partners as well, is opening an office in Nigeria. Does it mean the reforms are luring in foreign investors?
Yeah. I mean, Nigeria is growing in leaps and bounds. Also, with the geopolitical shifts that are happening, you see more trade partners moving here, and it makes sense that other banks would now want to develop a presence here. So, we’re likely to see even more banks follow – I wouldn’t be surprised.
We’re happy to say we have a longstanding history here and know the market very well, and that’s something our clients really rely on. Plus, our Deutsche Bank global network is vast, and that opens up access to corporates and businesses here to get access to other corridors around the globe. But I expect that you’re not only going to see that here in Nigeria, but in some of the other countries in West Africa that are very rich in minerals and other natural resources.
Foreign direct investments remain key for the economy to grow sustainably but that has been slow to react to the reforms. Is Deutsche bank seeing considerable interest from its FDI partners in terms of just setting up in Nigeria?
As I mentioned, Deutsche Bank does a lot of investment to support major projects here, as well as working with our corporate clients headquartered outside of Nigeria who are facilitating business with Nigerian counterparties and they rely on Deutsche Bank to create that access and the necessary support to grow businesses here. So international investments are coming back and more multinationals will move in if current development continues.
I think it’s also a factor not only of the growth potential in this country, but also the reforms that have taken place at the government level. Not only what you’ve already mentioned in terms of FX, but in terms of the country really strengthening its anti-money laundering and counterterror financing rules and regulations that provide comfort for businesses to operate and invest here and reflected in the country being removed from the FATF grey list in October last year. And I think the central bank has been a very strong proponent of creating a safe and sound infrastructure to support our direct investment.
What more would you advise that the government does in addition to the reforms that we’ve already implemented to ensure that Nigeria is one of those countries that really benefits from these geopolitical shifts that we’re seeing?
I think the moves that are currently being made with keeping a very safe infrastructure to fight financial crime is really top of mind. Nothing, I think, will turn away business faster than the perception that those types of strong controls are not in place. I think also the work that the Central Bank does to promote fiscal soundness is also really key and managing the currency provides a lot of comfort to outside investors and businesses. About Nigeria, I think of it as the top tier in the region, a country that has been booming for a long time, more advanced than so many other markets in Africa and even in the world, honestly. I think about the connectivity Nigeria has with the world, direct flights to different centres, access and so on. The pace of change here as the world evolves, to me, calls for the need for that standard to be reinforced in a tremendous way.
You will see other players start to show up. You will see people want to take advantage of natural resources, access to human capital. In one way, my view is that Nigeria needs this. It needs to support the poverty to affluent ratio, becoming more equal. So that will promote jobs and the nature of connectivity across the country. It will also help pursue support, financial literacy and much more for the underbanked communities. I think the work that the government has done to promote digitisation and mobile banking has really helped Nigeria leapfrog over other countries. That penetration really does support the unbanked and provides greater access to trade and all sorts of commerce.
Many countries don’t have that. And that’s something that is definitely encouraged to keep on going and maintain leadership in that space. And then it enables the Fintechs and the payment aggregators to operate here. They also know they’re operating in a strong regulatory environment, which is important and will continue to promote greater financial inclusion.
sleek214: All missiles intercepted . Only a matter of few days they won't be able to fire missiles from Iran to Israel again just like Hamas and Hezbollah Iran will fall.
Just like the previous 12 day war when USA quickly came to rescue them Dey play Israel go collect. Iran go collect. USA go collect
Magnetic010: Giving governors money is just waste of you ask me..They are going to stash most of it in foreign accounts, the rest they spend on IG and tiktok baddies
Some of the governors are arrogant due to this Amala convention
Foreign Affairs › Re: Iran Bombs U.S Oil Tanker In Persian Gulf (Photos) by Cajal(m): 5:48pm On Mar 07
