Nigerian Times

Nigeria: Apex Bank Chief is Man of the Year    Mr. Sanusi Lamido Sanusi , the fearless governor of the Central Bank of Nigeria (CBN) has been named the Man of the Year by Nigerians Report , the premier news blog of the most populous country in Africa. Nigerians Report described Mr. Sanusi as “A ‘sanitary officer’ to bank on for cleansing the stench in our banking stables” and commended him for his laudable sanitization of the Nigerian banking industry; for having the conscience to do the right thing which his predecessor, Mr. Chukwuma Soludo failed to do; particularly the sacking of corrupt CEOs and executive directors of mismanaged banks.  Mr. Sanusi’s disclosures of the sharp practices by Nigerian banks rattled the general public, embarrassed the bankers and disgraced the celebrated billionaires as big debtors siphoning millions of dollars as loans to enrich themselves and many of the banks were rendered insolvent.  The erudite risk management expert is se...

8 Nov 2011 16:00 Africa/Lagos Global Growth to Lose Momentum Emerging Economies Will Account for Much of the Slowdown PR Newswire NEW YORK, Nov. 8, 2011 NEW YORK, Nov. 8, 2011 /PRNewswire/ -- World growth will slow to about 3 percent per year on average, until at least the middle of the next decade, The Conference Board reports today. Global growth is projected to grow at 3.2 percent in 2012, accelerate to 3.5 percent from 2013-2016, and then show a further slowdown to 2.7 percent from 2017-2025, according to The Conference Board Global Economic Outlook. The report provides projections for output growth of the world economy for 2012, 2013-2016, and 2017-2025, including 12 major regions and about 50 advanced and emerging economies. At 3 percent, on average, global growth will still be somewhat higher than the period 1980-1995, but between half and a full percentage point below the growth rate from 1995-2008. A recovery in advanced economies will be more than offset by a gradual slowdow...