Business

Faulting CBN’s Rationale for Daily Cash Withdrawal Limits

Faulting CBN’s Rationalefor Daily Cash Withdrawal Limits. By Ikechukwu A. Ogu It is very unfortunate that, without much reflection, the House of Representatives, on Thursday 21st July 2011, reportedly swallowed hook, line and sinker all that the Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, fed it as the rationales for the introduction in […]

Africa

The True Nature of the Private Sector in Nigeria

Generally, every free market economy is divided into two sectors, the public sector and the private sector. The former is “the portion of a nation’s affairs, especially economic affairs, that is controlled by government agencies”, while the latter is “the part … that is made up of companies and organizations that are not owned or […]

Op ed

Before Government Forecloses the Education of Poor Nigerians.

(Codewit.com)The dailies reported on Tuesday 2/11/2010 that the Chairman of the Senate Committee on Education, Abubakar Bungudu, had, while visiting the National Universities Commission, hinted that the governing councils of universities may soon be empowered to arbitrarily charge students tuition and sundry fees. A similar suggestion was made on AIT by the Minister of State […]

Economics

Regulatory Inertia vis-à-vis Predatory Banking Practices in Nigeria – Part 2

ATM frauds have become incessant in Nigeria, as is worldwide, but the menace is more pronounced in our new generation banks. Users could compromise their ATM cards and PINs or lose same to skimming, spy cameras, phishing through the internet, false key pads on ATM boards, card trapping, etc. Sometimes, however, the circumstances that surround […]

Economics

Regulatory Inertia vis-a-vis Predatory Banking Practices in Nigeria (Part 1)

The classical laissez-faire theory is not practised anywhere; even in the most liberal capitalist economies industries are still subject to regulation. A regulator is there to oversee the activities of operators or players in the industry under its supervision, ensure the efficient supply of quality products and check the exploitation of users of the products. […]

Europe

INEC, Adequate Time and Credible 2011 Elections in Nigeria

President Goodluck Jonathan has promised Nigerians free, fair and credible general elections by next year. I believe he means business. Furthermore, he has appointed as the Chairman of the Independent National Electoral Commission (INEC) Prof. Attahiru Jega, a man associated with activism and integrity. Among the newly appointed Resident Electoral Commissioners (RECs), there appears to […]