IN May this year, Godwin Emefiele, the CBN Governor; formally, enthusiastically, confirmed the establishment of a currency deal between the Bank of China and its Nigeria counterpart; Emefiele, however also reported that the details and operational guidelines relating to the ¥15bn/N720bn swap would be announced later.

THE late Chief Moshood Kashimawo Abiola was the acclaimed, legitimate winner of the 1993 Presidential election, which was conducted, purportedly, to usher in a Democratic Administration after Ibrahim Babangida’s eight years in power, as Nigeria’s sole military President till date!

ON May 22 this year,  the International Monetary Fund’s, Resident Representative for Nigeria, Amine Mati, expressed concern over Nigeria’s capacity to sustain a debt burden which has, reportedly almost double from N12.12 trn in June 2015 to N21.75 trn by December 2017.

THIS article was first published in June 2006 and has been republished, annually, since then on the Anniversaries of Democracy and Independence Day. However, its content has become increasingly relevant this year. Hopefully, this article will once more serve as a wake-up call to abort the inevitable dire consequences which will jeopardize our relationship as a nation, so as to forestall the inevitable frustration of the hope of our people for a better life.  I wish you Happy 2018 Democracy Day! Please read on.

THE National Assembly on  May 16, enacted a federal budget of N9.12tn. The increase by N508bn on the N8.612tn budget, earlier presented to the legislature in November 2017, by President Mohammadu Buhari, was reportedly agreed with the Federal Executive, after crude oil benchmark was reviewed from $45 to $51/barrel, as export price steadily rose above $75/barrel.