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The Nigerian corporate Treasurers under the umbrella of the Association of Corporate Treasurers of Nigeria (ACTN) have scheduled a breakfast meeting to interact and brain storm on how the current operating business environment impacts on their activities and to proffer solution as well as project possible economic outcome and applications for 2017.
Sarah Alade, deputy governor, economic policy, Central Bank of Nigeria (CBN) will deliver the keynote address on the theme of the meeting while discussions at the panel session will be led by experienced professionals drawn from the financial markets.
The ACTN is a professional Association established to foster the interests of Corporate Treasurers of the buy-side and non-bank sell-side of the Nigerian financial markets by providing the platform for policy advocacy, discussions on issues of mutual interest, education/enlightenment and standards development of the corporate treasury function.
The Breakfast meeting scheduled to hold Thursday, December 15, 2016 in Lagos is themed “The Economic Outlook for 2017”. It will focus on economic policy directions for 2017 with a panel session on Currency, Funding and Liquidity Management is borne out of the current economic recession occasioned by the collapse of the world oil market which has resulted in sharp fall in foreign exchange earnings apart from adversely affecting the economic growth and development of Nigeria.
Expected at the session are Corporate Treasurers, Treasury Managers, Finance Managers, Chief Financial Officers (CFOs), Financial Directors, among others from different sectors of the economy such as oil and gas, Telecommunications, Trading and Manufacturing, Aviation, Service, Food and Beverages, Hospitality as well as public sector. They will have a robust deliberation on the subject matter and come up with solutions and possible applications for 2017.
Since the sudden crash of crude oil price which is the main source of revenue for the Nigerian government, the country has continued to witness several economic challenges namely inflation, job losses, paucity of funds, high cost of living, foreign exchange (forex) scarcity, unemployment amongst others. Other issues to be discussed at the session include amongst others, the increasing pressure on interest margins, paucity of forex and possible alternative access to forex, treasury visibility and Board perception to code of governance of treasury, among others.
