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Trapped dollars in Nigeria, money nobody wants

For Nigerians who are old enough to remember the currency change in 1984, what is happening now is similar, though different in nature and context. In 1984, the Nigerian military government of Muhammadu Buhari in an attempt to legitimize its interruption of the democratic process through a military coup d’état directed the CBN to cause a change in the colours of the Nigerian currency. The exercise was designed to render the money alleged to have been stolen by Nigerian political leaders useless in their hands.

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Tough times ahead after elections

Behind the façade of stability, the rebalancing triggered by the price collapse has yet to run its course, and it might be overly optimistic to expect it to proceed smoothly. As a result of the above oil market scenario, the incoming government will have a herculean task running the country effectively. Many states will not be able to pay their bills, same with the Federal Government.

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Lessons Buhari can learn from Obama about managing a tough economy

It is atypical for an American president to invite a nascent African head of state to the White House, especially less than one month after the latter’s inauguration. To some observers, therefore, US President Barack Obama’s invitation of his Nigerian counterpart, Muhammadu Buhari, for a White House parley scheduled for July 20 would seem to be an aberration and a surprise. But an analysis of both leaders’ circumstances suggests that such a meeting is a no-brainer.

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Storm over NLNG dividends, Nigerian politicians are shameless

The recent controversy over dividend paid by the Nigeria Liquefied Natural Gas Company, NLNG, portrayed Nigerian politicians as neophytes who do not fit well into civilized political culture. In the wake of the controversy, each side of the divide — PDP and APC — sought to outdo each other by a holier-than-thou attitude. In a cultured and disciplined society, Nigerians should have seen beyond these smart alecs who parade themselves as political leaders.

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Nigerians: Time now to decide what not to import

The Central Bank of Nigeria (CBN) recently excluded some goods being imported into the country from the list of items valid for foreign exchange in the Nigerian foreign exchange markets. The implication of this is that those who import these items can no longer buy foreign currency from banks, bureaux de change or any other official source to pay overseas suppliers of such goods. Instead, they have to source their foreign exchange from outside the banks and bureaux de change. These items are not banned but importers cannot access foreign exchange from Nigerian banks.

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Nigeria, time to try new ideas

Nigerians’ expectation from the new government at all levels is that the idea of sharing will be shelved and a new thinking of baking a larger cake for the nation will emerge. But Governors are already at it, talking of excess crude account that is to be shared. They have dragged as usual the yet-to- settle down president into setting up a committee to look into what the governors know too well has been shared. If this government were ready to replace old ways of thinking with the new, the Federal Government would have ignored these jobless governors.

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Re-Governors: No bailout coming from anywhere

This is a shame if the federal, states and local governments cannot be trusted with public funds. No wonder those who aspire to hold public offices always make it a do or die affair. How can they be stealing our monies and show off as if they are gods? All I am waiting to see is the so-called change that APC government intends to bring but if not, it will then be a moral burden on them as so many APC members and those decamping from PDP and other parties to APC in order to protect their ill gotten wealth.

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