If wishes were horses! Regrettably,Mr President,it's not for you to say what happens to the Naira.Perhaps your advisers should take a good look at what and who JP Morgan represent.
Seriously though,in real economic sense,the world operates in a competitive market through good old forces of demand and supply using a price system.
The operative word is competitive. In Nigeria's case,all the factors are to its disadvantage.
Even the CBN is financially illiterate
"We rejected JP Morgan's demand to save the economy"--CBN
The worst Nollywood "film" can't have a more vacuous statement.The bad influence of junk information in the area of advertising, Kenny music, preaching and even consumer goods ( Alomo is good,etc) is not obvious to Nigerians.
The same dynamic of blind acceptance affects our individual and collective lives. We have ditched common sense skepticism that make society vigorous and upholds standards.
Today,Nigerians accept any explanation for anything.One huge reason for this is the fact that education has died in Nigeria!
And so, even the CBN governor does not know how money works.
Needless to say,of course ,that when JP Morgan sneezes,even Japan shivers.
Seriously though,in real economic sense,the world operates in a competitive market through good old forces of demand and supply using a price system.
The operative word is competitive. In Nigeria's case,all the factors are to its disadvantage.
Even the CBN is financially illiterate
"We rejected JP Morgan's demand to save the economy"--CBN
The worst Nollywood "film" can't have a more vacuous statement.The bad influence of junk information in the area of advertising, Kenny music, preaching and even consumer goods ( Alomo is good,etc) is not obvious to Nigerians.
The same dynamic of blind acceptance affects our individual and collective lives. We have ditched common sense skepticism that make society vigorous and upholds standards.
Today,Nigerians accept any explanation for anything.One huge reason for this is the fact that education has died in Nigeria!
And so, even the CBN governor does not know how money works.
Needless to say,of course ,that when JP Morgan sneezes,even Japan shivers.
Factor a:Nigeria,in all intents and purposes,does not manufacture anything as natural resources don't count as manufacturing.
The pain is obvious, we pay for all imports in dollars;an ever rising currency that has already wiped out the Cedi,Rand, and the Russian Rubble is in rubble. It has also killed 29 stock markets around the world,Nigeria,naturally,
If you print more Naira,and God knows APC can advise anything,you'd not be different from Idi Amin of Uganda. And we both know what happened to country and man.
If you print more Naira,and God knows APC can advise anything,you'd not be different from Idi Amin of Uganda. And we both know what happened to country and man.
Factor b: Like the other African countries,Nigeria is crippled by a shocking and sustained drop in demand and prices of its export commodities( Nigeria's life blood) .Oil and The EU ban on Nigeria's agro products.
Factor c:The dollars that the CBN unwisely trapped in Nigeria has killed the economy. Yes people still buy Ogogoro and attend church in vast profusion, what else is there to do?
Factor d: The Powers that coronated you at Chantham House are the people taking you off The JP Morgan Bond index.
By the way, If the Telegraph of London listens to and publishes JP's advice,you, Mr President,should..
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