Analysts worry about transparency in reserves’ management | The Guardian Nigeria News


Financial analysts at EFG Hermes Holdings have said the reason behind Nigeria’s falling reserves is still not straightforward considering limited transparency of reserves and balance of payments numbers.

Indeed, the analysts highlighted four main factors that dictate the disappointing movement of reserves. In its latest report, titled ‘More pressure on NGN; adjustment edging closer’, EFG Hermes Holdings noted that Nigeria has been exporting less oil in the past year given its commitment to OPEC+ production cuts.

The report stated that crude oil export volumes are down by 20 per cent on average in the year to June, reducing the upside

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Absa and SAP have joined forces on a Pan African Finance Transformation | The Guardian Nigeria News

NAIROBI, Kenya, August 10, 2021 -/African Media Agency(AMA)/- Absa Group has joined forces with SAP for a core finance transformation. A multi country digitisation journey has started with the Absa Groups’ Kenyan subsidiary S/4 HANA implementation being the first country to go live with SAP S/4 HANA

The Kenyan implementation of S/4 HANA was launched on Amazon Web Service Hyperscaler, an African first for SAP and a Tier 1 bank in the African banking industry.

“Using best of breed technology and cloud, we are transforming our Finance business with highly integrated systems, automation and consolidation of our financial data and

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