ABCON
President, Alhaji Aminu Gwadabe,
told newsmen in Lagos that their return to Nigerian market will lead to
improved foreign exchange (forex) inflows and boost apex bank’s chances of
achieving its $60 billion foreign reserves target in 2018 in spite of any shock
in oil market this year,
He
praised the Federal Government’s plans to begin talks with JP Morgan about
being included in its government bond index for emerging markets. Naira
securities were removed from the JP Morgan Index in 2015 because of
foreign-currency shortages.
The
ABCON boss said such return will also enable Nigeria benefit from the $20
billion overseas investment planned by the US bank which will see it raise
wages, hire more, and open new branches in emerging market countries.
Gwadabe
said: “I want to use this opportunity to congratulate
the CBN and the Federal Government on the good news of JP Morgan renewed
interest on Nigerian bond market which will enhance investors’ confidence on
our economy. The CBN has brought stability in the forex market by making dollar
available to genuine forex users especially at the retail-end of the market.
That has ended volatility in the market and boosted the confidence of foreign investors
in the local economy.”
He
also praised the CBN for introducing the Investor’ and Exporters’ (I&E)
Forex Window which has since April 2017 attracted over $27.8 billion in
turnover into the economy and brought about transparency as well as stability
in the forex market.
The
ABCON boss said the U.S. bank’s return to Nigeria will enable the government
access needed funds for infrastructural developments in the economy and urged
the CBN to explore the opportunity in reducing the multiple exchange rates and
create more confidence for foreign investors. (Guardian)
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
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