FBN Capital, OBG Sign MoU for Report on Nigeria 2016

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Goddy Egene

FBN Capital has signed a first-time memorandum of understanding (MoU) with the Oxford Business Group (OBG) for the publishing firm’s forthcoming report. Serving as a research partner for the next three editions of ‘The Report: Nigeria 2016’.

The report by the global publishing firm, OBG, will examine the Central Bank of Nigeria’s monetary policy, reviewing the country’s recently-revised foreign exchange policy alongside broader efforts by the government to stimulate growth.

FBN Capital said it would work closely with OBG’s team to support coverage on Nigeria’s key financial, economic and monetary issues. FBN Capital will also be responsible for compiling and producing the capital markets shares analysis of The Report: Nigeria 2016.

The Report: Nigeria 2016 will include analysis of the country’s new floating foreign exchange policy, which was enacted in June by the central bank. The decision to allow the naira to float marks a distinct change from previous policy, which in the face of dwindling reserves had led to a widening gap between official and black-market exchange rates for the naira against the US dollar.

OBG will also look at the impact of the measures on the domestic supply chain, and assess the ramifications for bond trading and liquidity in the Nigerian market. Other topics that the publication will cover include the Central Bank’s efforts to curb inflation, which remains above nine per cent.

Commenting on the MoU, the Head of Marketing and Corporate Communications at FBN Capital, Lolade Sasore said, “OBG is a recognised and respected source of business intelligence, and we are quite pleased about the collaboration. We are committed to working with strong partners to provide credible information, analyses and perspectives which will support decision-making and encourage investment into the country in the long term.”

OBG’s Country Director in Nigeria, Izabela Kruk, said that with 2016 expected to be a significant year for Africa’s largest economy, FBN Capital’s contribution to the Group’s forthcoming publication was particularly welcome.
“The Report: Nigeria 2016 comes at a pivotal point in the country’s development, with efforts to diversify the economy taking on added urgency due to lower global oil prices. FBN Capital is playing an active role in helping Nigeria to broaden its economic base and reduce its reliance on hydrocarbons and their deep knowledge of the local market will help further expand our coverage of Nigeria’s key financial sectors.”

According to them, the report will be a vital guide to the many facets of the country, covering a range of sectoral developments in oil, industry, infrastructure, banking and telecoms, among others. It will also o contain interviews with leading representatives from the public and private sector, and is being produced in collaboration with the Nigerian Economic Summit Group and the Nigerian Investment Promotion Commission.

OBG is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of Africa, the Middle East, Asia, Central and Latin America and the Caribbean. On the other hand, FBN Capital is the Investment Banking and Asset Management business of FBN Holdings Plc.