Godwin Emefiele, President Goodluck Jonathan’s choice as Nigeria’s next central bank chief, is an experienced financier who’ll inherit an institution under extra scrutiny after his predecessor was suspended amid a corruption dispute.
Nigerian President Goodluck Jonathan suspended central bank Governor Lamido Sanusi in a surprise move that halted bond trading and sent the naira to a record low, after his accusations of missing oil revenue sparked a public outcry and criticism against the government.
Nigeria’s government will announce plans tomorrow to develop a mortgage finance company along the lines of the U.S.’s Fannie Mae that will help broaden access to home loans in Africa’s most populous country.
Nigerian President Goodluck Jonathan risks sectarian clashes when he announces whether he will seek election: in the Muslim north if he does, and in his native oil- rich Niger River delta in the south if he doesn’t.
The Nigerian Stock Exchange will target 500 companies for initial public offerings over the next five years as Africa’s second-largest bourse seeks to reach a $1 trillion market capitalization by 2016, the regulator said.