Ifeanyi Uddin

Mr. Udin is Business Intelligence expert. He is a Member of Premium Times Editorial Board and a Columnist par excellence.

Posts by Ifeanyi Uddin:

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Why I Cannot Accept The Verdict On This Administration, By Ifeanyi Uddin

I am persuaded (appearances notwithstanding, and despite the seeming exertions of key personnel) that the incumbent administration at the federal level has not succeeded along as many dimensions of our national life, as I would have liked. Even against its own promises, I think it a stretch to suggest that…

How Not To Explain Corruption In Nigeria, By Ifeanyi Uddin

At a private breakfast mid-last week, I was run over by a fable on the character of one of the main problems confronting project Nigeria: corruption. Responding to an ad hominem presentation on the country (which, incidentally) situated the national problem along a continuum that had at both ends the…

The Seeds Of Impunity, By Ifeanyi Uddin

 The newspapers last week, were full of plaints by a senior minister (at the centre). The main charge? Apparently, successive attempts by the central government to set up a “rainy day fund” have been up-ended by the state governors. Worse, these same dastardly types were responsible for the rapid draw-down…

Are Yields Finally Coming Home To Roost? By Ifeanyi Uddin

On Friday, June 7, the interbank foreign exchange market closed with 159 naira exchanging for 1 US dollar. Close watchers of the market gawked. By close of trading, Thursday, already slackened jaws dropped several ticks. The naira had slipped several ticks more! Despite the Central Bank of Nigeria's (CBN) daily…

Why Do We Still Borrow? By Ifeanyi Uddin

It is official! “As at now, our external indebtedness is as low as US$6.67 billion or about 3 percent of Gross Domestic Product, GDP.” Thus the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, putting value to a concept that only recently began to cause consternation…

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But We Are A Corrupt People, By Ifeanyi Uddin

No one word divides camp in Nigeria today more than "corruption."  Such is the extent of the division that I doubt if both sides imagine the same processes, events, or people when they use this noun. There are excuses for this. Our problem with counting, for instance, (as with the…

After April’s MPC Meeting, By Ifeanyi Uddin

Now, I am not too certain how to call this. But ahead of the meeting last week of the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC), few commentators shied away from calling the MPC's outcome. So, none of the MPC's decisions, Tuesday, took the markets by surprise. Instead,…

How Not To Treat Vernaculars, By Ifeanyi Uddin

When, recently, in a circular to all staff, my employers forbade the speaking of “vernacular” in favour of the English language, my initial reaction was of extreme crossness. I guess at the back of this was a recollection of the distasteful responses associated with similar policies growing up. Overtly paternalistic…

Who Will Speak Out For Me? Ifeanyi Uddin

On Saturday morning, last week, in a conversation with friends on Facebook, I was reminded of Reverend Martin Niemoller’s famous 1937 statement – more about this later. Over the week leading up to this conversation, I had had problems with the (lack of) quality of after-sales service for my car…

Whose Government? By Ifeanyi Uddin

There is a variety of Nigerian patriots for whom the mantra “my country, good or bad” is a creed of some sorts. Not, though, in the manner of a self-evident truth, existing alongside other such axioms. But a fundamental dictum of conduct that must be observed, as it were, in…

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Lessons From Our Nascent Online Retailers, By Ifeanyi Uddin

The emergence of the online retail business in Nigeria was always going to upset a few established practices. One big question centered on how online retailing would play in the face-off between traditional retail outlets (our not so "supermarkets", and corner shops) and the discount shopping malls that are increasingly…

Where is the Economy Headed? By Ifeanyi Uddin

There is this local quirk which never ceases to amuse (and amaze) me. A robust capacity for mimesis ensures that no sooner is the sod turned on some groundbreaking activity, than several copycat versions make their debut. One explanation for this is the serial failure of our criminal justice system. A…

Tightening Bank’s Margins, By Uddin Ifeanyi

Of late, bank customers in the country have had cause to smile on their way to the banks. Courtesy of recent central bank directives to the banks, they are being spared a couple of additional charges on their transactions. Having gently been shunted away from main branches into ATM sidings,…

Of Governments And The People, By Ifeanyi Uddin

What is the purpose of government? Given the intensity of the arguments on all sides of this question, I suppose that discussion around it has been with us for as long as the institutions, which collectively bear that name have been. Whatever side of the argument you look at this…

De-legitimising Deregulation, By Ifeanyi Uddin

The judgment, last week, of a federal high court, in which it found (amongst others) government's deregulation of the downstream sector of the oil and gas industry "unlawful, illegal, null, void and of no effect whatsoever, being in flagrant violation of the mandatory provision of section 4 of the Price…

Of Taxes: Between The People And Their Government, By Ifeanyi Uddin

In the first week of February, the National Bureau of Statistics (NBS) released the country’s trade figures for last year. Importantly, we appeared to have sold more last year (N22.45tn) to the rest of the world, than we bought off them (N5.62tn). At least one analyst that I read on…

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What Should The MPC Do? By Ifeanyi Uddin

The strongest case for second-guessing the Monetary Policy Committee's (the MPC is the Central Bank of Nigeria's rate-setting arm) likely decision(s) when it meets Monday, next week, was made almost a month ago. Most serious watchers of the economy expected a lower inflation count for January this year, simply because…

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How Not To Protect The Naira, By Ifeanyi Uddin

The recent resolution by the House of Representatives calling on the Central Bank of Nigeria (CBN) to stop the "dollarisation" of the economy is indicative of how poorly the economy is being run. Two related preliminary observations. One, the CBN is not driving this process. (Two), it is instead, the…

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Deposits And Micro-finance Banks, By Ifeanyi Uddin

Late last week, a young female friend walked into my office. It was early morning. Not unusual in itself, this visit. But her face, that day, was a study in unalloyed joylessness. An ordinarily winsome character, the contrast, that morning between her countenance and the sombre hue of her hijab…

Banks and Public Finances, By Ifeanyi Uddin

One of the more interesting aspects of the last global financial and economic crisis was the way in which the health of banks, public finances, and the outcome of countries became almost inextricable intertwined. The most obvious thread in this link was that between banks' holding of sovereign debts and…

Making Sense of the CBN’s New Capital Adequacy Requirements, By Ifeanyi Uddin

Last week, the Central Bank of Nigeria (CBN) toughened its regulatory regime. Its review of risk weights on certain exposures in the computation of capital adequacy essentially did four main things. (1) It increased the risk weight on direct lending to government from 100% to 200%; (2) where a bank's…

Managing the Central Bank: Selecting Lamido Sanusi’s successor, By Ifeanyi Uddin

On balance, therefore, we all have a huge interest in the process for selecting the next central bank governor. That office affects our everyday life far too much for us to leave decisions about it in the hands of our “experts”. Should we be concerned who the next governor of…

Managing Nigeria’s Monetary Policy, By Ifeanyi Uddin

Again, the Central Bank of Nigeria's (CBN) rate-setting committee (the Monetary Policy Committee ― MPC) meets this morning. In a marked departure from practice, the meeting this January (the MPC meets every other month) is scheduled to run for just one day (all through last year, the meetings lasted the…

Hiving-off the Central Bank’s banking supervision department, By Uddin Ifeanyi

  A disproportionately large part of the National Assembly's resources was taken up last year with members attempts at altering the Central Bank of Nigeria (CBN) Act 2007. As befits a pillar of our struggling democracy, parliament couched its efforts down this path in terms of the need to increase the apex bank's accountability…

Helping our people to shop better, By Ifeanyi Uddin

Largely unremarked, despite its disruptive effect on traffic in places like Lagos, a lemming-like rush at retail sales outlets marked the end of last year. For those who got caught up in the tailbacks that built up around major shopping centres, there was time enough to ruminate on the reasons…