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The Nigerian banking industry recently experienced the greatest shakeup since the consolidation exercise of 2005 with the central banks’ announcement of key
reforms aimed at promoting growth and sustainability within the sector.
Innovation and advancements in technology led to the development of mobile phones which could be classified as perhaps the most significant investion in the last three decades.
The fact that Nigeria has potential is no new news to anyone. However, the challenge is making that potential a reality. How do we reconcile our current realities with the promise of the future?
Nigerian companies continue to struggle with the human resource challenge which is reflected in the high employee churn rates across industries, the delivery of poor quality service as a result of the in-competence of employees, and a pool of ill-equipped graduates and job seekers to choose from.
The expansion of the Nigerian economy as a result of in-creased trade and interaction with the global economy has resulted in the diversification of products and services sold within local markets
The global recession that began in 2008 has given the concept of “risk management” more visibility as a critical success factor for all organisations. In West African banks, risk management is usually limited to managing credit risks. This article discusses a holistic and practical approach to an effective risk management system.
An efficient business process increases the profitability and growth of an organization while reducing cost and turnaround time.
By focusing on innovation and implementation of sound strategic plans, players have the potential to claim significant portions of the market
Over the years, banking has evolved from the traditional model of customers queuing for services in banks to modern day banking where banking services can be reached through internet
Customer retention takes more than a one-time offering of quality service but a consistent delivery of an excellent customer experience. Such experiences help in building the loyalty that any business desires from its customers
With a well formulated strategy, that leverages on strengths and limits the exposure to operational and market risks, one can build a successful Oil and Gas business
Airline operators in Nigeria are taking advantage of the internet revolution, as all seven major operators currently have functional websites where passengers can carry out certain functions including making enquiries concerning flight schedules, making bookings and also paying for their tickets in most cases.
Studies have shown that banks that focus more on the traditional mode of banking i.e. the brick and mortar model, which requires many layers of processing e.g. issuance, processing and reconciliation of checks and other paper-based transactions, compared with those that transact majorly via electronic channels, tend to record higher operating costs
As several countries around the world attempt to revitalize their public administration and make it more proactive, efficient, transparent and service oriented, governments are now becoming more innovative in their practice. One of the ways through which the innovation is reflected is through deployment of appropriate ICT for service delivery to citizens.
The challenge to improve profitability and sustain growth amidst of the cloud of uncertainty that currently hangs over consumption remains the primary obstacle that operators are trying to surmount
Risk is a phenomenon that all businesses, regardless of the industry they operate in, must confront.
With over 75% of its 92 million hectare landmass being suitable for crop cultivation, Nigeria has all the resources to position itself as one of the world’s leading exporters of agricultural produce.
For organisations that intend to effectively compete in the global landscape, they need to devise a tactical way of improving their overall efficiency through the use of innovative processes. Studies have shown that the chances of survival for companies that understand their market trends and devise creative methods of improving operational efficiency through innovation are [...]
The need for an environment that encourages optimal productivity cannot be overemphasised as productivity is one of the most important remedies to economic retardation.
For several decades, Nigeria’s petroleum sector has provided essential commodities that play the crucial role of fuelling the nation’s economy.
The relevance of employee motivation to the failure or success of any business must not be undermined because studies have revealed that without a motivated workforce, many operations that involve personnel within the business such as overall productivity, morale, profits and efficiency can fail
With a projected population of 1.4 billion by 2025, Africa will be a market almost as large as the combined markets of the Americas and Europe, currently at 1.8 billion. Organizations that intend to remain relevant in the consumer goods space cannot afford to ignore the so-called Dark Continent’s growing markets. With a compound annual [...]
Ghana’s commercial vibrancy follows economic reforms initiated to revamp the country’s economy. With ongoing reforms designed to revitalize the economy and create an enabling environment for investors, Ghana’s economy could be the fastest growing in sub-Saharan Africa. This projection hinges on the fact that Ghana is in a position to register strong economic growth with [...]
Following airplane crashes in 2005 and 2006, the Nigerian aviation industry sought to regain the confidence of air travelers by recapitalizing Nigerian airlines in 2007. However, the 2008 global financial crisis caused a decline in air travel as business and leisure travelers reduced their spending. With a steady recovery from recession since then, the Nigerian [...]
