₦airaland Forum

An Entrepreneurship and Businessmen Journal.

[center]WHAT IS AN INVESTMENT?[/center][b][/b]

An investment is an asset or item acquired with the goal of generating income or appreciation. Appreciation refers to an increase in the value of an asset over time. When an individual purchases a good as an investment, the intent is not to consume the good but rather to use it in the future to create wealth. An investment always concerns the outlay of some asset today—time, money, or effort—in hopes of a greater payoff in the future than what was originally put in.

For example, an investor may purchase a monetary asset now with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit.


KEY TAKEAWAYS

An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in value at some point in the future.

An investment always concerns the outlay of some asset today (time, money, effort, etc.) in hopes of a greater payoff in the future than what was originally put in.

An investment can refer to any mechanism used for generating future income, including bonds, stocks, real estate property, or a business, among other examples.



HOW AN INVESTMENT WORKS

The act of investing has the goal of generating income and increasing value over time. An investment can refer to any mechanism used for generating future income. This includes the purchase of bonds, stocks, or real estate property, among other examples. Additionally, purchasing a property that can be used to produce goods can be considered an investment.

In general, any action that is taken in the hopes of raising future revenue can also be considered an investment. For example, when choosing to pursue additional education, the goal is often to increase knowledge and improve skills (in the hopes of ultimately producing more income).

Because investing is oriented toward the potential for future growth or income, there is always a certain level of risk associated with an investment. An investment may not generate any income, or may actually lose value over time. For example, it's also a possibility that you will invest in a company that ends up going bankrupt or a project that fails to materialize. This is the primary way that saving can be differentiated from investing: saving is accumulating money for future use and entails no risk, whereas investment is the act of leveraging money for a potential future gain and it entails some risk.



TYPES OF INVESTMENTS


Economic Investments

Within a country or a nation, economic growth is related to investments. When companies and other entities engage in sound business investment practices, it typically results in economic growth.


For example, if an entity is engaged in the production of goods, it may manufacture or acquire a new piece of equipment that allows it to produce more goods in a shorter period of time. This would raise the total output of goods for the business. Taken in combination with the activities of many other entities, this increase in production could cause the nation’s gross domestic product (GDP) to rise.


Investment Vehicles

An investment bank provides a variety of services to individuals and businesses, including many services that are designed to assist individuals and businesses in the process of increasing their wealth.

Investment banking may also refer to a specific division of banking related to the creation of capital for other companies, governments, and other entities. Investment banks underwrite new debt and equity securities for all types of corporations, aid in the sale of securities, and help to facilitate mergers and acquisitions, reorganizations, and broker trades for both institutions and private investors. Investment banks may also provide guidance to companies who are considering issuing shares publicly for the first time, such as with an initial public offering (IPO).



Investing vs. Speculation

Speculation is a distinct activity from investing. Investing involves the purchase of assets with the intent of holding them for the long-term, while speculation involves attempting to capitalize on market inefficiencies for short-term profit. Ownership is generally not a goal of speculators, while investors often look to build the number of assets in their portfolios over time.


Although speculators are often making informed decisions, speculation cannot usually be categorized as traditional investing. Speculation is generally considered a higher risk activity than traditional investing (although this can vary depending on the type of investment involved). Some experts compare speculation to gambling, but the veracity of this analogy may be a matter of personal opinion.

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Trade Nigeria: How Corporate Social Responsibility Can Impact Positively to The Growth of Business Organization


Corporate Social Responsibility Program of Trade Nigeria and Globe chamber of Commerce

Corporate Social Responsibility (CSR) is when an Organization operates in an ethical and sustainable way and deals with its environmental and social impacts. This means a careful consideration of human rights, the community, environment, and society in which it operates.

It’s incredibly important that an organization operates in a way that demonstrates social responsibility. Although it’s not a legal requirement, it’s seen as good practice for an organization to take into account social and environmental issues.

Corporate Social Responsibility also means that a company takes steps to ensure there are positive social and environmental effects associated with the way the business operates. Not only do active involvements in CSR increase business and revenue, they promote change and progress throughout the world, which often involves helping people with few or no resources.

CSR is viewed as different from philanthropy. When properly implemented, it should become ingrained in the values and culture of a company, and positively affect the way the company does business. CSR should become inherent in the mission and message of an organization, and also hold a strong place in marketing and advertising. Companies should be aware that promoting their CSR model only benefits the company if they are already acting on their plan. Otherwise, falsely claiming to bring social change to those in need could lead to bad publicity.

Business organizations that ignore corporate social responsibility run a risk to their bottom line and their brand. Having a bad reputation socially and environmentally can create serious negative effects on the overall profitability and success of a company, as nowadays consumers want to spend their money on products and services that they believe in, and engage with companies that follow ethical practices that meet their own beliefs.



Benefits of Corporate Social Responsibility


Corporate Social Responsibility Program of Trade Nigeria and Globe chamber of Commerce



The benefits of CSR speak volumes about how important it is and why business organization should make an effort to adopt it.



Some clear benefits of corporate social responsibility are:



Improved public image. This is crucial, as consumers assess your public image when deciding whether to buy from you. Something simple, like staff members volunteering an hour a week at a charity, shows that you’re a brand committed to helping others. As a result, you’ll appear much more favourable to consumers.

Increased brand awareness and recognition. If you’re committed to ethical practices, this news will spread. More people will therefore hear about your brand, which creates increased brand awareness.

Cost savings. Many simple changes in favour of sustainability, such as using less packaging, will help to decrease your production costs.

An advantage over competitors. By embracing CSR, you stand out from competitors in your industry. You establish yourself as a company committed to going one step further by considering social and environmental factors.

Increased customer engagement. If you’re using sustainable systems, you should shout it from the rooftops. Post it on your social media channels and create a story out of your efforts. Furthermore, you should show your efforts to local media outlets in the hope they’ll give it some coverage. Customers will follow this and engage with your brand and operations.

Greater employee engagement. Similar to customer engagement, you also need to ensure that your employees know your CSR strategies. It’s proven that employees enjoy working more for a company that has a good public image than one that doesn’t. Furthermore, by showing that you’re committed to things like human rights, you’re much more likely to attract and retain the top candidates.

More benefits for employees. There are also a range of benefits for your employees when you embrace CSR. Your workplace will be a more positive and productive place to work, and by promoting things like volunteering, you encourage personal and professional growth.

[center]World Technology and Innovation Expo... [/center]

The World Technology and Innovation Expo is an exchange programme focused on entrepreneurship and manpower development, and to encourage indigenous contents through training.

This project is prompted by the need to keep pace with technological changes, the need to be competitive and the desire to be efficient and effective in meeting the needs of artisans. This project is aimed at offering participants the best advanced skill acquisition opportunities, which will in turn equip and open up new channels of wealth creation for participants.

It also seeks to build the capacity of the participants, enhance and update their knowledge, expose them to new technologies and innovation globally.

The World Technology and Innovation Expo is powered by Globe Chamber of Commerce and Industry.

Globe Chamber of Commerce and Industry is an independent organization that promotes trade, investment and business development, diversifies and industrializes countries' economy, grow inward investment to global standard, support bilateral trade partnership and making the population of a country productive through mutual and balanced trade and investment.

Trade among European and African precolonial nations developed relatively recently in the economic history of the African continent......

Prior to the European voyages of exploration in the fifteenth century, African rulers and merchants had established trade links with the Mediterranean world, western Asia, and the Indian Ocean region. Within the continent itself, local exchanges among adjacent peoples fit into a greater framework of long-range trade.

The merchants from Britain, France, Portugal, and the Netherlands who began trading along the Atlantic coast of Africa therefore encountered a well-established trading population regulated by savvy and experienced local rulers. European companies quickly developed mercantile ties with these indigenous powers and erected fortified “factories,” or warehouses, on coastal areas to store goods and defend their trading rights from foreign encroachment. Independent Portuguese merchants called lançados settled along the coasts and rivers of Africa from present-day Senegal to Angola, where they were absorbed into African society and served as middlemen between European and African traders (1991.17.31).

Those goods imported to Africa in greatest volume included cloth, iron and copper in raw and worked form, and cowry shells used by local populations as currency. Nonutilitarian items such as jewelry, beads, mechanical toys and curiosities, and alcohol also met a receptive audience. Catholic countries such as Portugal were, in theory at least, forbidden by papal injunction from selling items with potential military uses to non-Christians, although it is unclear how closely this order was followed in practice. In exchange for their wares, Europeans returned with textiles, carvings, spices, ivory, gum, and African slaves.

Contrary to popular views about precolonial Africa, local manufacturers were at this time creating items of comparable, if not superior, quality to those of preindustrial Europe. Due to advances in native forge technology, smiths in some regions of sub-Saharan Africa were producing steels of a better grade than those of their counterparts in Europe, and the highly developed West African textile workshops had produced fine cloths for export long before the arrival of European traders.

It may therefore seem surprising that European importers found many customers for their goods among local populations in West Africa. Nonetheless, the novelty and comparative rarity of European imports together constituted a significant advantage over local products, and powerful rulers readily adopted them for use as courtly regalia. An example of this type of status object fashioned from a trade commodity is a Chokwe chief’s necklace from Central Africa (1996.456). The white ceramic “shell” attached to a woven basketry band was an item manufactured in Europe, probably Germany, for use by Portuguese slave traders. Round, white shells are valued symbols of spirituality and leadership in many Central African cultures, and European merchants clearly created this ceramic form to meet the particular demands and interests of their trading partners.

Local leaders who prospered from the international trade also commissioned other prestige objects, such as sumptuous wood and ivory carvings, from local artisans.

[center][/center][b][/b]

The euro has edged steadily higher against the dollar for the past quarter With signs that hedge funds are taking option exposure on a rising euro, the recent move into the single currency could easily turn into an investor stampede if dollar flight takes hold. This would put European Central Bank Governor Christine Lagarde in a very tight spot because she’d find it hard to fight against an overly strong euro. The ECB doesn’t have an official mandate to manage the currency, but its actions definitely help. It is close to being maxed out on policy responses as it already has a giant pandemic bond-buying program and deeply negative interest rates.

The minutes from the July meeting of the ECB’s governing council, released on Thursday, noted that several policy makers questioned whether the 1.35 trillion-euro ($1.6 trillion) quantitative-easing program for the pandemic should be fully used. That’s not a sign that printing more euros, or taking measures that would weaken the currency’s ascent, are available options.

Isabel Schnabel, the ECB’s executive director for market operations, also said optimism in the financial markets (read all-time highs for U.S. stock markets) “raised questions regarding the robustness and resilience of current investor sentiment.” She has a point. If the S&P 500 index were to correct sharply it would push the dollar lower, and the biggest beneficiary could be the euro as it’s the next most liquid currency. The euro area relies on exports for growth, so this could choke a Covid recovery.

There’s also a widening gap between America’s economic sentiment and its stock performance. The U.S. Federal Reserve’s minutes from its July 29 meeting gave a gloomy assessment of the economy, downgrading second-half growth estimates. Weekly U.S. jobless claims rose by more than 1 million. For some investors, this is an obvious risk to start hedging against.

The effect is showing up in the bond markets too. Wednesday’s auction of 30-year German bonds was the best on record in terms of demand, despite offering a negative yield. This was reportedly driven by foreign interest. It makes sense for Japanese pension funds and insurers to hedge some of their foreign-currency bond exposure out of the dollar if they fear it will weaken further.

With the European Union finally joining up its fiscal and monetary response, it might end up being a victim of its own success. The euro area doesn’t need to perform particularly well economically to attract inflows as it’s simply the next best place to park money after the U.S. If the dollar does lose its shine, the euro could become too popular for its own good.

Fow Exports Overseas Placement Services.....[center][/center]

FOW Export Overseas Placement Services has been formed by experienced, qualified personnel from various domain name experts with an aim of promotion of Global Imports- Export Trade to join hands and assist with Globe Chamber of Commerce and industry Promotion and monitoring bodies, ministries of individual countries responsible for balancing the trade

FOW will work further to strengthen the foundation of Globe Chamber of Commerce and Industry to share their suggestions in growing Global Economy with a streamlined pace and manner keeping in mind imports-exports laws of individual countries. FOW will assist export-startups, entrepreneurs, existing International small-big Importers-Exporters to follow their dreams professionally to pursue their aspirations to become unicorns in days to come. We will keep a close watch in identifying emerging global opportunities based on various conducive factors of various country’s competitiveness pricing, innovations, new emerging platforms and blend them with viable solutions perspectives for a grand success for the International Impex community of Importers-Exporters and all those directly, indirectly involved in the trade promotion of segmented products, projects - commodities and services sectors

The FOW is one of its own kind of platform in the world to assist further new and existing Globe Chamber of Commerce and Industry to Grow at the fastest speed and pace to enhance their business operations to streamline productivity, prosperity and profitability. FOW endeavors will strengthen Global Economy to the next level in the near future and grow International Impex Trade to level of par excellence.

The objective of FOW is to promote global trade, joint ventures, strategic partnerships, and investments and also to act as a catalyst in the promotion of global trade in products, projects and services

FOW shall identify Imports-Exports opportunities, constraints, trade barriers and be able to translate these into sectoral Imports-Exports strategies, suggest collaboration models, discuss on task allocation and coordinate with other concerned bodies globally in the Imports-Exports value system

Africa Garment, Leather Industry and Textile Expo.....[center][/center]

Africa Garment, Leather Industry and Textile Expo will showcase, exhibit and promote African made Garment and Textiles proudly produced in Africa.....

The Expo will bring market and investment opportunities associated with the development in the Garment, Leather and Textile Industries. It will facilitate investment opportunities within Africa and provide support to Local Traders, Investors and Manufacturers in Africa.

[center]Australia Africa Business Excellence Award.....[/center][b][/b]

The Australia Africa Business Excellence Award are a means of recognizing various forms of merit and service to Africa. This year, individuals in different award categories will receive Honors.....

Globe Chamber of Commerce and Industry is pleased to announce that several awards will be conferred individuals for their exceptional achievements. Their various victory and successes moved the entire Continent and inspired young citizens and Africans to set new goals, reach for their dreams and pursue their aspirations.

These awards serve as an encouragement and recognition of the hard work by the people who have helped them get to where they are today after years of dogged determination, their pursuit of excellence, discipline and drive will inspire an entire generation of young people. Their achievements have brought tremendous pride to the country. The Australia Africa Business Excellence Award is a well-deserved recognition of their contribution to economic excellence and for their impact on the society, particularly with the youth.

The Awards will be presented to recipients at the upcoming Australia Africa Business Excellence Award.


Globe Chamber of Commerce and Industry seeks to inspire Africans through arts and sports, strengthen community bonds, and promote volunteerism and philanthropy. Since its inception, Globe Chamber of Commerce and Industry has been actively engaging the arts, heritage, sports, community, trade exchange and youth sectors.

Globe Chamber of Commerce and Industry aims to bring into sharper focus the efforts to build a more cohesive and vibrant society and to deepen a sense of identity and belonging to the nation.

[center]Hon. Nwabueze Buchi George: Why We Are putting up Korea – Africa World Economic and Investment Summit[/center]

In another move to reposition Africa’s economy in the Covid-19 pandemic era as well as the post-Covid19 era, Globe Chambers of Commerce and Industry is putting up the Korea – Africa World Economic and Investment Summit for 2021.

With the Nigerian version of the event failing to hold early 2020 due to Covid-19 restrictions, the organization is stepping it up in a bid that other African countries will benefit from its dividends.

Korea – Africa World Economic And Investment Summit will be a networking point for Korean and African investors as Globe Chambers of Commerce and Industry is proposing that the best way out of the global economic crisis is multiple and strategic collaborations.

Hon. Nwabueze Buchi George, the president of Globe Chambers of Commerce and Industry, in an announcement about the event, said strategic partnership is key to global development at the moment.

"Covid-19 has shown us few things. We have learnt a few lessons that the most important thing is humanity and every sustainable plan that will make us live well in a good environment. I feel we’ve also come to understand during the lockdown that we’re all patches of islands, but together, we are the world”

“No nation has everything, so we all need to get other things in a way that will be mutually beneficial to all of us”, he said.

He revealed that in Asia as well as the global economy, Korea has always been a key player whom Africa can learn a lot from in terms of industrialization, human capital development and strategic planning.

Hon. Nwabueze, Buchi George

Hon. Buchi George said that Globe Chambers of Commerce and Industry has strategically looked into what Africa and Korea can mutually offer each other and there is a whole lot in various sectors.

“There is a reason we expanded this program to Africa. We understand that the economy of one’s neighbours can affect his own, so we believe that if we look beyond Nigeria to develop the entire African content, we will be getting it right”

“Economically, Africa needs to be great again and while the Covid-19 pandemic is still on, we need to put down viable recovery plans that can be kicking off any time. 2021 is a good time for us and we believe by then, everywhere will open up for us and other organizations working hard to make the world a better place” Hon. Nwabueze Buchi George said.

The U.S - Africa Economic and Investment Forum is an organized Trade Mission designed to be a high level event geared towards supporting the private sector engagement and to drive greater U.S - Africa Trade, Investment and business development and engagement.


This Forum will bring stakeholders together to explore

The Forum will serve as a global platform for dialogue and engagement on emerging and key issues related to investing for sustainable development.

Benefits of this event

- Provide a platform for public and private dialogue among U.S and African Government officials and private sector leaders.


- Expand opportunities for Investment and Partnership between businesses in Africa and the U.S


-It will create an avenue for U.S and Africa businesses to engage themselves


- Explore the future of African and U.S trade and investment relationship

The U.S - Africa Economic and Investment Forum is proudly organized and sponsored by Globe Chamber of Commerce and Industry.

[b[center]]World Shoe Expo[/b][/center]
World Shoe Expo is a large trade fair for all kinds of shoes and footwear such as heels, boots and leather shoes from

all over the world.....


While the show gathers wide variety of products, many exhibitors accept contract manufacturing for shoes.

Exhibition would be on Heels, boots, party shoes, sneakers, leather shoes, sandals, comfortable shoes, sport shoes, shoe care supplies etc.

The exhibition is held inside choice country at a particular time for the fashion industry, World Shoe Expo.

World Shoe Expo is the most important international exhibition dedicated to leather, accessories, components, synthetics and models for footwear, leather goods, garments and furniture.

The fair system represented by World Shoe Expo and its connected “niche” events showcases the high quality of the exhibiting companies, with their outstanding style and customer service.

World Shoe Expo has been characterized by its constant leadership in quality and style innovation, which makes it indispensable to the leather demand worldwide.

A. Meaning of Barter:

‘Direct exchange of goods against goods without use of money is called barter exchange.’



Alternatively, economic exchanges without the medium of money are referred to as barter exchanges. An economy based on barter exchange (i.e., exchange of goods for goods) is called C.C. Economy, i.e., commodity for commodity exchange economy. In such an economy, a person gives his surplus good and gets in return the good he needs.



For example, when a weaver gives cloth to the farmer in return for getting wheat from the farmer, this is called barter exchange. Similarly the farmer can get other goods of his requirement like shoes, cow, plough, spade, etc. by giving his surplus wheat (or rice or maize). Thus, the system of barter exchange fulfills to some extent the requirements of both the parties involved in exchange.



However, as the transactions increased, inconveniences and difficulties of barter exchange also increased involving rising trading costs. Trading costs are costs of engaging in trade. Its two components are search cost and disutility of waiting.



Remember, search cost is the high cost of searching suitable persons to exchange goods and disutility of waiting refers to time period spent on searching the required person. This ultimately led to evolution of money as medium of exchange. Following are some of the drawbacks or inconveniences of barter.



B. Inconveniences (Problems) of Barter Exchange:

1. Lack of double coincidence of wants:

Double coincidence of wants means what one person wants to sell and buy must coincide with what some other person wants to buy and sell. ‘Simultaneous fulfillment of mutual wants by buyers and sellers’ is known as double coincidence of wants.

There is lack of double coincidence in the wants of buyers and sellers in barter exchange. The producer of jute may want shoes in exchange for his jute. But he may find it difficult to get a shoe-maker who is also willing to exchange his shoes for Jute.

Thus, a seller has to find out a person who wants to buy seller’s good and at the same time who must have what the seller wants. This is called double coincidence of wants which is the main drawback of the barter exchange.



2. Lack of common measure of value:

In barter, there is no common measure (unit) of value. Even if buyer and seller of each other commodity happen to meet, the problem arises in what proportion the two goods are to be exchanged. Each article must have as many different values as there are other articles for which it is to be exchanged.

When thousands of articles are produced and exchanged, there will be unlimited number of exchange ratios. Absence of a common denominator in order to express exchange ratios creates many difficulties. Money obviates these difficulties and acts as a convenient unit of value and account.



3. Lack of standard of deferred payment:

There is problem of borrowing and lending. It is difficult to engage in contracts which involve future payments due to lack of any satisfactory unit. As a result, future payments are to be stated in term of specific goods or services. But there could be disagreement about the quality of the good, specific type of the good and change in the value of the good.



4. Difficulty in storing wealth (or generalised purchasing power):

It is difficult for the people to store wealth or generalised purchasing power for future use in the form of goods like cattle, wheat, potatoes, etc. Holding of stocks of such goods involves costly storage and deterioration.



5. Indivisibility of goods:

How to exchange goods of unequal value? If a household wants to sell his cow and get in exchange cloth equal to the value of half of his cow, he cannot do so without killing his cow. Thus, lack of divisibility of goods makes barter exchange impossible.



In order to overcome the above disadvantages of the barter system, money was invented by the society.

Visa Ban: Nigerian government said it was disrespectful [center][/center]

The Nigerian government said it was disrespectful to the sovereignty of the country for any foreign government to apply punitive measures such as visa ban on its citizens.

The Nigerian government made this known in a statement issued by Mr Ferdinand Nwonye, spokesperson for the Ministry of Foreign Affairs on Friday in Abuja.



Nigeria was responding to the recent announcement of the U.S. and the United Kingdom to impose visa restrictions on those who undermine electoral processes.



The Nigerian Government said it was committed to providing all necessary logistic, financial and security support to the electoral process.



“The Ministry of Foreign Affairs wishes to state that the Nigerian government has taken note of the concerns of some of our partners, especially the U.S. and UK governments regarding the elections in Edo and Ondo States.



“They have also expressed their intentions to take punitive measures against those who decide to, in what they termed as, undermine democracy.



“It is important to highlight that the responsibility for the conduct of elections in Nigeria solely resides with the Independent National Electoral Commission and State Independent Electoral Commissions.



“The Federal Government, and especially the President, is committed to providing all necessary logistic, financial and security support to the electoral process.



“The President has continually urged all parties and contestants to peacefully conduct themselves before, during and after the elections, and supported patriotic non-governmental initiatives such as the Abdusalami Abubakar-led Peace Committee.



“Furthermore, it should be noted that there are ample provisions in our laws to sanction violators and perpetrators of electoral violence and fraud.



“It would be considered disrespectful of the sovereignty of Nigeria for any outside authority to sit in judgment over the conduct of our citizens and apply punitive measures such as visa restriction, unilaterally.



“While we appreciate the support and encouragement of our international partners such as the EU, we urge our equally valued partners such as the UK and U.S. to cooperate with our relevant agencies,” the government said.

CBN Requested Banks To Increase Loans to Agricultural Sector To 10% in 4years

The Central Bank of Nigeria (CBN) through its president, Godwin Emefiele has made it known that the country needs to increase its level of bank credit to the agricultural sector by over 50% within the next 4 years to boost food production.

The implementation of this is expected to drive the allocation to the sector to 10% of the entire credit in the banking sector from the current 4%.

This was disclosed by the CBN Governor, Godwin Emefiele, on Tuesday, September 15, 2020, at the 13th Annual Banking and Finance Conference, organized by the Chartered Institute of Bankers (CIBN) in Abuja.

According to Emefiele, the banking sector should focus on increasing its support for the agricultural sector, as the coronavirus pandemic has caused disruptions on global supply chains and food supply from other countries

Emefiele stated further that some of the opportunities in the agricultural sector that banks should explore include addressing some of the existing gaps in the agriculture value chain like storage centres, transport logistics and technology platforms that can enable rural farmers to sell their produce directly to the markets.

In his remarks, he also disclosed to bankers that currently, loans to the food sector accounts for around 4% of the total credit in the banking sector. He said the pandemic had exposed the risk of relying on food and drug imports, as most countries are reluctant to export goods to other countries.

Last week, President Muhammadu Buhari’s directed CBN not to allocate foreign exchange for food and fertilizer imports. He said the Federal Government would rather empower more local farmers and use agriculture as a means to create more employment among Nigerians.


Nigeria is reliant on imports, including food items, to meet its needs due to limited manufacturing capacity. It has been struggling to reduce its $20 billion annual food import bill as it finds it difficult to diversify the economy away from oil.

“It is therefore imperative from an economic as well as a security perspective, that our banking and financial system works to support growth in sectors that have significant growth potential, and can enhance the resilience of the Nigerian economy, in the face of external shocks,” the CBN Governor told bank chiefs.