Monday, March 16, 2015 | Issue 033
Verbatim
“
I remember when we were in South Africa on a state visit, MTN paid a courtesy call on me and one of the key things that we raised – myself and Ngozi (Okonjo-Iweala) the Coordinating Minister of the Economy, was the need for them to list. We are working very hard to make sure that companies that are supposed to list, list. That is the only way Nigerians can participate in some of these companies. And in the next four years we will look at it; it is a very delicate area. This government does not want to do something that will injure the private sector.
”
- President Goodluck Jonathan speaking at Nigerian Stock Exchange, Lagos, March 12, 2015
EMPLOYMENT
NBS survey shows formal sector new jobs’ slowdown in Q4 2014 World Bank figures show that as many as 41 million Nigerians, or 24% of the country’s 170 million population, are unemployed. The figures are grimmer for young persons below 24 years. The World Bank estimates that as many as 80% of this group do not have jobs. Government figures place this closer to 38%, which is still alarming. In the run up to elections, political parties are promising to create million of new jobs if elected though how they plan to is vague.
FOREX RATES
$/N
196.5
197.1 196.8 196.5 196.2 195.9 Fr
Mo
Tu
£/N
We
Th
Fr
290.7218
301.0 298.0 295.0 292.0 289.0 Fr
Mo
Tu
Euro/N
We
Th
Fr
207.9167
217.0 214.0 211.0 208.0 205.0 Fr
Mo
Tu
We
CNY/N
Th
Fr
31.3868
31.80 31.60 31.40 31.20 31.00 Fr
Mo
Tu
We
CFA/N
Th
Fr
0.3079
0.34 0.33 0.32 0.31 0.30 Fr
Job seekers crowd around an official at last year’s recruitment exercise for the Nigerian Immigration Service. Reports said 500,000 applicants were invited to apply for about 4,500 vacancies.
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Mo
Tu
We
Th
Currency
Central Rate
SWISS FRANC
194.9985
YEN
1.6179
WAUA
269.7703
RIYAL
52.3916
DANISH KRONE
27.8775
SDR
269.3819
Fr
FIXED INCOME & FOREX
Source: FMDQ