CBN Governor to Engage Finance Professionals on Strategies to Curb Inflation and Stabilize Rates Amid Economic Challenges
Details:
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, is set to lead discussions with finance and corporate treasury professionals from Nigeria and the United Kingdom, focusing on sustainable monetary policies and financial strategies to address rising inflation and interest rate volatility. This engagement will take place at the 2024 Treasury360 Conference and Exhibition, scheduled for November 14, 2024, at the Muson Centre in Lagos. The event is organized by the Association of Corporate Treasurers in Nigeria (ACTN) under the theme: “Policy Implications and Building Sustainable Treasury Strategies: Nigerian Perspectives on Tackling Inflation and Interest Rate Uncertainty.”
Key Points:
Focus on Economic Resilience
The conference will address the challenges of managing inflation and interest rate fluctuations, with discussions on building resilient financial strategies that can sustain businesses in turbulent economic times.
Insights from ACTN President Adeyinka Ogunnubi:
At the media launch, ACTN’s President, Adeyinka Ogunnubi, noted that escalating inflation and volatile interest rates require corporate treasurers and financial leaders to adopt strategies that can stabilize company finances. FX unpredictability, which affects budgeting processes, was highlighted as a primary concern.
Impact of Food Inflation and Regulatory Recommendations:
Ogunnubi pointed to food inflation, which has neared 40%, as an area needing immediate government intervention through improved transportation and consistent food supply. He believes these measures could positively impact the inflation rate.
Challenges for Corporates and CBN’s Efforts:
While acknowledging CBN’s steps to manage the economic pressures, Ogunnubi underscored that corporates continue to face major challenges, including balancing FX and inflation unpredictability in financial planning.
ACTN’s Perspective on the Workforce and Economic Ripple Effects:
Benedict Ologbosere, ACTN’s Programmes and Events Chair, discussed broader impacts on the business landscape, including significant job losses, such as a major corporation planning to reduce its workforce by 1,000 employees, signaling potential wider economic repercussions.
This conference is expected to bring together financial experts to explore sustainable treasury strategies that can withstand the current economic climate and offer actionable solutions for Nigerian corporates navigating inflation and FX risks.
Details:
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, is set to lead discussions with finance and corporate treasury professionals from Nigeria and the United Kingdom, focusing on sustainable monetary policies and financial strategies to address rising inflation and interest rate volatility. This engagement will take place at the 2024 Treasury360 Conference and Exhibition, scheduled for November 14, 2024, at the Muson Centre in Lagos. The event is organized by the Association of Corporate Treasurers in Nigeria (ACTN) under the theme: “Policy Implications and Building Sustainable Treasury Strategies: Nigerian Perspectives on Tackling Inflation and Interest Rate Uncertainty.”
Key Points:
Focus on Economic Resilience
The conference will address the challenges of managing inflation and interest rate fluctuations, with discussions on building resilient financial strategies that can sustain businesses in turbulent economic times.
Insights from ACTN President Adeyinka Ogunnubi:
At the media launch, ACTN’s President, Adeyinka Ogunnubi, noted that escalating inflation and volatile interest rates require corporate treasurers and financial leaders to adopt strategies that can stabilize company finances. FX unpredictability, which affects budgeting processes, was highlighted as a primary concern.
Impact of Food Inflation and Regulatory Recommendations:
Ogunnubi pointed to food inflation, which has neared 40%, as an area needing immediate government intervention through improved transportation and consistent food supply. He believes these measures could positively impact the inflation rate.
Challenges for Corporates and CBN’s Efforts:
While acknowledging CBN’s steps to manage the economic pressures, Ogunnubi underscored that corporates continue to face major challenges, including balancing FX and inflation unpredictability in financial planning.
ACTN’s Perspective on the Workforce and Economic Ripple Effects:
Benedict Ologbosere, ACTN’s Programmes and Events Chair, discussed broader impacts on the business landscape, including significant job losses, such as a major corporation planning to reduce its workforce by 1,000 employees, signaling potential wider economic repercussions.
This conference is expected to bring together financial experts to explore sustainable treasury strategies that can withstand the current economic climate and offer actionable solutions for Nigerian corporates navigating inflation and FX risks.