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What did Tambuwal tell Gbaja?

What did Tambuwal tell Gbaja?

IT does not take a genius to know why the All Progressives Congress (APC) is in crisis. From the look of things, the situation may not change within the foreseeable future. If care is not taken, APC may not rule for more than one term of office, at least not in the current format. It […]

In the name of Nigeria, they share

In the name of Nigeria, they share

WE are in an upbeat mood. Money is beginning to flow again. At least from the federal main supply, to the state and local government taps, and of course the federal tank which collects 52 percent of distributable funds. After months lamenting lack of funds, N804.7 billion was made available to be shared. I wonder what effect this will have on exchange rate as chunks of these funds flow through the tributaries of Bureau de Change and smuggling, into the larger oceans of world finance.

Power consumer advocacy:  Matters arising

Power consumer advocacy: Matters arising

The story by Okechukwu Nnodim, writing from Abuja went on to say that “The Nigerian Electricity Consumer Advocacy Network, which was inaugurated by the Nigerian Electricity Regulatory Commission about two months ago has collapsed.” Reading the report, it is obvious that the NERC and the members of the Nigerian Electricity Consumer Advocacy Network, NECAN, cannot agree about who is to fund the programme. There is fault on both sides as will be demonstrated presently. But first a few questions need to be answered.

‘The Economist’ and CBN’S “toothpick alert”

‘The Economist’ and CBN’S “toothpick alert”

What is clear from ‘The Economist’ story, however, is the overriding message that investors want more Naira depreciation, so that speculative overseas investors can readily expand their portfolio of Nigeria’s listed equity for less dollar values. In pursuit of this objective, “The Economist” is ‘righteously’ alarmed that ‘instead of allowing the Naira to devalue” (the writer probably means depreciate as a currency does not unilaterally devalue itself) “the Central Bank is trying to defend the Naira rate by blocking imports”.