BBC World Service Europe and the Middle East

Business Daily

Factual: Money

The daily drama of money and work from the BBC.

Business Daily: Nigeria's Crisis

Bulletins

Nigeria's Crisis

11/10/2016 GMT

BBC World Service - Business Daily, Nigeria's Crisis

Is Nigeria facing a banking crisis? One analyst says so. Another is more optimistic.

Is Nigeria facing a banking crisis? One analyst says so. Another is more optimistic, saying the government pulling back should allow for a less corrupt and oil-dependent economy.

Is Nigeria on the brink of a full-blown banking crisis? One analyst, Jaap Meijer of the Gulf-based financial analysis firm Arqaam Capital, believes it is - unless the central bank moves to bail out at least two private banks. But we also speak to a former deputy central bank governor, Dr Obadaiah Mailafia, who says talk of a crisis is exaggerated. Also, a leading Nigerian businesswoman, Dr Amy Jadesimi, managing director of Ladol, the offshore logistics & ship building hub in Lagos Harbour, is much more optimistic. She says the government's recent moves to stamp out corruption, and to sort out the country's security problems, is paving the way for a more balanced economy. She also believes its acceptance that the private sector should take the lead in infrastructure development ought to pave the way for a less corrupt and oil-dependent economy. Also in the programme, we hear from our regular commentator, Jeremy Wagstaff of Reuters, who considers the grindingly slow evolution of the so-called "Internet of Things". He says the process by which we hook up all our gadgets and hardware online is happening much more slowly, and in a much more low-tech way than we'd previously imagined.

(Photo: Nigerian bank notes in Lagos, Credit: Getty Images)

BBC World Service

BBC World Service Online

BBC World Service schedule for American satellite radio and the Caribbean

BBC World Service Americas and the Caribbean

BBC World Service Australasia

BBC World Service East and Southern Africa Schedule

BBC World Service East and Southern Africa

BBC World Service East Asia

BBC World Service South Asia

BBC World Service West and Central Africa Schedule

Accessibility links

Programme Index

Business Daily

Nigeria's Crisis

Genres

Formats

Brand

BBC World Service Europe and the Middle East

About BBC World Service