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Economy: Another quarter of subdued growth

Growth slowed in 1Q19

Nigeria’s headline real GDP growth slowed to 1.9% in 1Q19 from 2.4% in 4Q18, largely due to a sharper contraction in oil production. Non-oil GDP growth also slowed marginally to 2.5% from 2.7% in 4Q18, reflecting the clearly subdued growth environment. Non-oil growth was again primarily driven by the continued boost from the telecom sector, after the one-off growth adjustment in 2Q18; the sector accounted for more than half non-oil growth in the quarter.

 COMFORT EKELEME

As part of its commitment to boost women empowerment, talent development and financial inclusion, Union Bank recently partnered with Mama Moni Empowerment Foundation to set up an Innovation Hub for low-income women and girls from urban slum communities.

.Support tech startup with $10,000

Leading financial institution, Access Bank Plc., in collaboration with the Africa Fintech Foundry (AFF), highlighted the importance of digital innovation and strategic partnerships among stakeholders in the financial sector.

COMFORT EKELEME

Investors have expressed optimism that the long awaited listing of shares of MTN Nigeria Plc on the floor of the Nigerian Stock Exchange (NSE) will further boost investor’s confidence in the Nigerian capital market.

ABCON endorses CBN’s banknote fitness guidelines

COMFORT EKELEME

The Association of Bureaux De Change Operators of Nigeria (ABCON) has commended the Central Bank of Nigeria (CBN) Clean Note Policy and Banknote Fitness guidelines meant to remove dirty, mutilated and unfit naira notes in circulation from the financial system.

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