The inaugural lecture of Centre for Financial Journalism (CFJ Nigeria) held today March 17 2019 at The Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos.
The inaugural lecture marks the formal commencement of activities of the Centre, which focuses on training of journalists in the country on financial journalism, and research. The Centre is governed at the board level by eminent Nigerians, with Mr. Ernest Ebi, former Deputy Governor of the Central Bank of Nigeria as Chairman. The faculty is populated by some of the best brains in Journalism, Finance and Banking, Economics, Law, Development and Politics, who will be bringing their expertise and wealth of experience to bear on the offerings of the Centre.
The inaugural lecture was delivered by erudite Economist, Professor Akpan Hogan Ekpo, Director-General of West African Institute for Financial and Economic Management and former Vice-Chancellor of University of Uyo, Akwa Ibom State, and it was themed “Steering Nigeria Out of Economic Turbulence – Policy Choices for Buhari’s Administration”. Prof. Ekpo’s lecture underscored the need for Nigeria to urgently step up what he termed Secondary Production in order to stop the drift of Nigeria into beckoning recession and stabilize the Naira. He regretted that the several windfalls enjoyed by previous administrations in the export of primary products like oil and gas were brazenly squandered instead of being deployed into capital development and engendering the advancement of secondary productive activities, that is core manufacturing. (a full report on the lecture will follow shortly)
The lecture was chaired by Professor Pat Utomi, Director, Lagos Business School. Prof. Ekpo’s lecture was further discussed by Mr. Femi Awoyemi, Fellow of the Institute of Chartered Accountants of Nigeria and CEO of Proshare Nigeria, and Mr. Tilewa Adebajo, an economic expert and CEO of The CFG Advisory.
Centre for Financial Journalism Nigeria (CFJ) was established in order to provide specialized training programmes in financial journalism with a view to addressing the knowledge and skills gap in the practice of the trade; and to conduct research on financial journalism, business, the economy, banking and finance.
The core mandate of the CFJ is to provide specialized training and conducting cutting edge research on financial journalism with a view to raising the standard of the practice of financial journalism in Nigeria.
The CFJ also aims at mentoring new entrants into the field of financial journalism; as well as raising a significant number of highly-skilled financial journalists.
Speaking on CFJ, Professor Pat Utomi said he is excited about this whole new idea that Ray Echebiri and his team are berthing; and believes that it will push financial journalism a step further towards the right direction.
The professor said that it saddens him each time he sees the state of the country and that he believes Nigeria should be a déjà vu because we keep going in circles and repeating yesterday’s errors.
He further stated that there is no institution to hold for credible accountability; and that accountability should be something the media ought to be responsible for; thereby ensuring that knowledge is refreshed at all times.
Prof Utomi said he hopes Ray Echebiri and his team can keep up their good work and help the people stay and have continuous knowledge about what goes on in the financial institution of the country.
He further went ahead to say that if he had time, he would write a book about Iatrogenic choices. Saying that Nigeria is a country of iatrogenic choices; whereby we make choices that make damage to our economy repeatedly than the problems we are trying to solve. He said, we like crisis in our economy; we always find a way to create crisis in the economy even when it isn’t there. And he said it’s a very big shame because the lives of people depend on the country’s economy.
Utomi observed that Nigerians do not have civilized conversations with one another; they insult and shout at each other about things they don’t understand, care or have feelings about. Everybody just seems to be shouting at the same time. He said he believes people who talk the most are the ones who have no idea of what is actually going on.
Utomi went ahead to say he believes it is time for us to pay attention to details and listen to each other if we have to get to the roots of our problems. He said if journalists can be properly educated, the conversations could become more civilized thereby making more progress.
Concluding his speech, he said he is very pleased that we are getting the chance to touch on this issue and that he believes now is the time for us to make a change.
The event was well attended by the leading lights in banking and finance, including the CBN, NDIC, CIBN, Nigerian Communications Commission, banks, captains of industry, publishers and the top echelon of the Nigerian Guild of Editors and Nigerian Union of Journalists.
