The Chief Executive Officer, FMDQ Group, Bola Onadele, was represented by the Managing Director, FMDQ Securities Exchange Limited, Ms. Tumi Sekoni, at ACTN’s treasury 360 conferences and exhibition with the theme: “Getting through the uncertainties of supply chain disruption, currency volatility and inflation” in Lagos, however, said the Nigerian financial market does not have the product diversity and depth to help the nation effectively manage the financial risks.
“Thus, it is fitting that the focus of this conference is on the management of these risks. Indeed, this affords all participants representing various stakeholders’ interests a splendid opportunity to engage in an enlightening discourse on the detrimental effects of supply chain disruption, currency volatility and rising inflation on businesses and the required risk mitigation strategies that can be employed to get us through the economic uncertainties,” he said.
He said with food and energy prices hitting record highs, inflation is rising around the world and the prospect of a “cost of living” crisis looms for many people across the world. “To combat rising inflation, the Monetary Policy Committee of the Central Bank of Nigeria has raised interest rates thrice this year to 15.5 per cent, its highest level since 2006. Despite this and several other efforts geared towards protecting the economy, currency volatility and rising interest rates remain very important financial risk factors for all corporate treasurers in Nigeria today,” he said.