The Bullion Lecture
The Bullion Lecture, the flagship programme of Centre for Financial Journalism, is a platform for lively discourse on national and international issues. The 2018 edition of the lecture is scheduled for 10am on Wednesday March 21, 2018 at The Civic Centre, Ozumba Mbadiwe Avenue, Victoria Island, Lagos.
The lecture which will be delivered by Kingsley Chiedu Moghalu, Professor of Practice in International Business and Public Policy at The Fletcher School of Law and Diplomacy, Tufts University, United States of America, and former Deputy Governor, Central Bank of Nigeria. It will be chaired by Senator Olabiyi Durojaiye, Chairman of Nigerian Communications Commission.
Theme: The Wealth of Nations and the Imperative of Economic Transformation
Financial Journalists’ and Banks’ Corporate Communications Managers’ Parley
Synopsis: The programme which is the first of its kind in the country brings financial journalists and banks’ image makers under one roof to interact, share experiences, iron out their differences and then, fashion out ways to work harmoniously for the good of the banking industry and the practice of the journalism profession.
Objective: The objective of the programme is to forge a warm relationship between financial journalists and corporate communications managers of banks.
Budget Monitoring and Reporting Workshop for Journalists
Every government project, programme or policy is, one way or the other, captured in the annual budget (Appropriation Act). This, therefore, makes the annual budget a very important document that every citizen should be interested in. Moreover, the annual budget also impacts on every citizen one way or the other.
For the media, especially, monitoring and reporting the annual budget – from formulation to approval and implementation – is one major way of delivering on its constitutional responsibility of holding government to account. Any journalist that follows and understands the budget cycle will know what government plans to do in a given year, and will be in a position to ask the right questions if he/she finds out in the course of monitoring the budget that government has left out certain projects, programmes or policies it had planned to pursue in the year.
The course will help journalists to learn about the budget cycle and how they can make the budget to have positive impact on every citizen by monitoring and reporting every activity associated with its formulation, approval and implementation.
Comprehensive Course on Financial Journalism
Financial journalism as a specialized field of journalism is quite demanding as it requires knowledge about how economies and markets operate. Many journalists are assigned to beats which are new to them and require them to go through a learning curve with trial and error. Even graduates from universities with a degree in journalism seem lost in the field when assigned to finance beats as the subject is loaded with hard-to decipher jargons and data.
This course will demystify financial journalism as it will simplify the complex subjects through a step-by-step approach, breaking down the concepts and explaining what those strange-sounding derivatives actually do.
This course on financial journalism will take participants through the various beats of financial journalism, equip them with the skills and show them the hidden shortcuts to navigate the financial journalism landscape.
It will also prepare new entrants taking a career in financial journalism, corporate communications, etc on a journey that will inspire them to take on the world of business and financial journalism.
Workshop on Interpreting and Reporting Company Financial Statements
The 2008 financial crisis that led to the crash of the Nigerian Stock Market, the Tsunami that hit the Nigerian banking system leading to the collapse of several banks, and the intervention by government through the Asset Management Corporation of Nigeria (AMCON) were all due to weak corporate governance, boardroom intrigues, insider trading and the failure of journalists to spot these issues and report them before they went out of hand. The crisis led to job losses and eroded the gains made during the banking reforms.
Unfortunately, Financial Journalists were unable to unearth and report these issues because they could not read and understand the financial statements which were cooked up with several infractions hidden and with the complicity of accounting firms engaged by these banks and other financial institutions.
In this course Financial Journalists will learn how to interpret, analyse and report company financial statements with a view to informing and educating their readers and, of course, blow the whistle when they smell a rat in the accounts. With this, they will help in strengthening corporate governance thereby stemming corporate failure.
Workshop on Reporting Corporate Governance for Nigerian Journalists
“Corporate Governance is at the heart of what goes right and wrong in business. Understanding it is vital for good financial journalism”
– John Plender, Senior Editorial Writer & Columnist for Financial Times.
In Nigeria, corporate governance practices have been far from globally acceptable standards. The implication of this has been the collapse of several businesses in the country. The Nigerian banking system, for instance, has suffered some instability over the years due to poor corporate governance practices. In 1995 and again in 2009, some chief executive officers and directors of banks in Nigeria were sacked and prosecuted for non-performing loans that were traced to their businesses, relations and friends.
Critical as it is to the survival and success of business organizations, corporate governance is under-reported in the Nigerian media. The under-reporting of corporate governance suggests that journalists in the country do not understand what it is all about or lack the necessary skills to report it.
Training and retraining of journalists with a view to making them to understand what corporate governance is all about and its importance in the business world will certainly make a world of difference in the reporting of corporate governance in the Nigerian media. For, after acquiring the necessary knowledge and skills, the journalists will be able to report corporate governance by benchmarking global practices and corporate governance laws and rules in Nigeria, and track the activities of both private and public enterprises to ensure compliance with corporate governance codes.
Comprehensive Course on Capital Market Reporting
The Nigerian capital market has been growing by leaps and bounds. Though the growth has slowed down in the last two years or so due to the underperformance of the country’s economy occasioned by the softening of crude oil prices, the market has continued to move at a meteoric space in terms of sophistication. The market has also become highly internationalized as investors from different parts of the world who are fascinated by the high return on investment in it are trading in shares and other securities quoted on it.
This course is intended to sharpen the skills of journalists who have been reporting the market, and give a the right bearing to beginners in capital market reporting so that they can all acquit themselves creditably in their onerous duty of converting data to economic intelligence which will make sense to their readers.
Comprehensive Course on Money Market Reporting
The Nigerian financial services sector now compares with any other in the world in terms of sophistication and range of financial products. Regulators of the sector have also moved to the next level, competing in terms of technology and innovation with the operators.
Within a decade, the sector has migrated from analogue to digital age, and from heavy cash transactions to cashless transactions. Now, almost every Nigerian that owns a bank account carries a credit card or a debit card. And mobile banking, with its beautiful and ugly sides, is now the order of the day. Many Nigerians no longer know what banking halls look like since they can do all their banking transactions from the comfort of their homes or within the four walls of their offices.
Certainly, it is a revolution that the Financial Journalist should follow every inch of the way, reporting its good, bad and ugly sides with a view to educating and informing the banking public on how to benefit from the revolution.
Financial Reporting and Shareholder Protection Workshop for Journalists
The media is an important element of social control of behaviour in human societies because the primal role of the media in society is to see that the “truth” is told, and told “fairly” too. Auditors report on the financial statements of companies to say whether the financial statements show a true and fair view of the entity’s affairs as summarized in the stewardship report of the Board and Management of the entity.
Both the journalist and the auditor are subject to the public trust and are expected to do their work guided by public interest. At these intersections, namely, “truth, fairness, public trust and public interest,” the media meets the accounting profession. Financial reporting integrity is, therefore, a shared responsibility for journalists and auditors who are both committed to contributing to the building of strong capital market and an orderly society in Nigeria.