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Okonjo-Iweala to Nigerian Banks


I do think they have to watch the amount of foreign borrowing they do. If you borrow in foreign currency to finance things domestically, then you are exposed to foreign currency risks. So the amount of foreign financing they undertake I think should be watched.

World Bank managing director, Ngozi Okonjo-Iweala warning Nigerian Banks against too much exposure to foreign funds

At MTN, we leverage on our expertise in the area of telecommunications to provide cutting edge ICT solutions to a wide range of customers including progressive corporations such as FCMB. We design and deploy effective business solutions and ensure that services are available to sustain excellent service delivery on a consistent basis.

-Ahmad Farroukh, CEO MTN Nigeria at the signing of a 5-year deal for the provision of WAN solutions for FCMB

  
 

It looks like our banks are relatively in good condition. Ownership of our banking system is more internal; there is not much foreign ownership. The banking system is not much tied to what is going on abroad. To that extent it is okay.

-Ngozi Okonjo-Iweala, Managing Director of the World Bank on the current global economic crisis and its effect on Nigeria

eTranzact's ATM CardlexCash which has been patented in Nigeria, and in Africa, US, UK and Asia is a revolutionary product which leverages on a subscriber's mobile phone, the eTranzact platform, and ATM processors of partners to make funds transfer and collection convenient for the end users.

-Valentine Obi, chief executive officer of eTranzact at the media launch of two new products in Lagos

  
 

This is the Communication Age, not the Industrial Age, or even the Information Age. The country that controls communication and information and is able to gather it better and faster will become the super power of the 21st century. We must adopt the paradigm that to be educated is to be able to read, write, and use a computer

- Chris Uwaje, managing director of Connect Technologies on the need for Nigeria to be mindful of the digital disaster that awaits her if she ignores the importance of IT
 
 
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September 2007 Edition
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