What makes nigeria giant of africa

The Biafra War between and was the most severe. Nigerian people are very knowledgeable and they have open culture. Two hallmarks of Nigeria: Nollywood and Cocoa. Cocoa leads the agricultural export of the country. We were the second-largest producer at some point but today we are number five or six. I accept. Nigeria is looked to as a peacekeeping force within the continent. Take action on UpLink. Explore context. Explore the latest strategic trends, research and analysis.

Here are five things about the country today you might not know. Image: PwC. Image: UN. Nigeria is Africa's biggest economy. Facebook Twitter WhatsApp Telegram. Ogunkoya determined to unearth future Olympians at South-West Athletics meet.

Chairperson of the South West Athletics Association, Falilat Ogunkoya, says Friday's all secondary schools athletics meet at the Yaba College of Technology is one of the programmes lined up by the body to unearth future Olympians for the respective states in the South-West region and Nigeria in general. Police arrest suspected kidnappers while collecting ransom. The police command in Ogun has arrested three members of a kidnap syndicate while collecting a ransom.

FG to set up security force to man porous borders — NSA. The Guardian's special focus on Nigeria's 50 most outstanding and impactful women in leadership: Part two. Nigeria's 50 most outstanding and impactful women in leadership.

Federalism is the answer, after all - Part The separate impulses in the polity arising from the contradictions of state policies are beginning to assume dramatic dimensions. Insensitivity and immaturity on display. Two major events occurred last week. The collapse of the storey building under construction at Ikoyi filled airwaves, the print and the digital media. Liberia and memories of a civil war. Between attorney general and justice minister. The banks also play a key role in assisting corporates to move capital in and out of the country.

In order to keep the managed exchange rate stable, the CBN has regulated the foreign exchange market extensively and there are a number of rules corporates must follow to import and remit funds. To make the process of both importing and exporting funds easier for corporates the CBN has empowered banks to grant a certificate of capital importation based on a set of guidelines, if these guidelines are not met then the corporate will need to seek central bank approval.

Additional documentation is also required to remove profits from the country. The level of liquidity depends on what the CBN is doing at the time. But at times that it is limited, it can make taking money out fairly difficult for corporates. Ultimately, the renminbi is likely to become a global convertible currency. Hedging products are widely available for corporates in Nigeria, yet despite increasing global trade, they are still rarely used. Companies are therefore leaving themselves open to exchange rate volatility as they develop into the global market — and also interest rate volatility.

The primary hedging products which are available to corporates are vanilla forwards and swaps. But in a bid to increase the popularity of the derivatives market in Nigeria, the CBN has been hard at work.

This is something which we have already started to see in the oil and gas sector, for example. In order to reduce costs and mitigate the risks of such a heavily cash-based economy, the CNB introduced a cash lite policy in which looks to reduce the circulation of cash and move to electronic transactions. As part of the project, this began in Lagos and has since spread further across the country.

The main elements of this policy include a cash handling charge on daily cash withdrawals that exceed , naira for individuals and three million naira for corporates. This shows the impact of the cash lite initiative and the growing importance of electronic payments in the country. Having only been implemented across the majority of the country earlier this year, the jury is still out on how the project will work in the less developed cities and regions. Using electronic platforms also allows corporates to have better real-time view of cash flows.