As it stands many of the textile companies that traded on Nigeria’s Stock Exchange (NSE) have been delisted leaving only one textile company United Nigeria Textiles on the NSE. Indeed while there are currently no fashion design houses trading on the NSE and it might take a long time before we get there, it is definitely a place we at LadybrilleNigeria hope the industry reaches.
Critical to the overall financial well being of the fashion industry irrespective of whether fashion companies are traded on the NSE, is an understanding of the health of the country’s financial markets, as it in turn affects the abilities of fashion companies to secure loans, among many financial transactions. So, we will periodically bring you updates on Nigeria’s financial markets.
In this update, Shuaib Audu of Head of Investment Management at Stanbic IBTC Asset Management addresses the overall health of Nigeria’s financial markets. He is launching two new fixed income funds. In addition to his update is that of Oceanic Bank’s Executive Director of Finance, Oyinkan Adewale, who discusses the huge losses suffered by Oceanic bank, one of Nigeria’s prominent banks, within the last nine months and what the bank is doing to get back on track.
Stanbic’s Shuaib Audu
Oceanic’s Oyinka Adewale