LCCI blames CBN over depreciating Naira” was a title on pg 17 of the Guardian of 19/1/2009, in which, Otunba Onafowokan, the chairman, Lagos Chamber of Commerce and Industry, blamed the Central Bank (CBN) for “the drastic drop in the naira value”.

THE awareness of the correlation between lower naira exchange rates and increasing poverty motivated the “Save the Naira, Save Nigerians!” by-line in articles in this column since 2004.

The above title is from a paper presented by Brian Browne at an event organised, by Atayese, a Pan Odua Socio-political self determination group, in Ibadan last month, to mark the 90th birthday of distinguished Prof. Adetoun Ogunsheye.

The above is the title of a paper presented by Brian Browne, at the celebration of the 90th Birthday anniversary of distinguished Prof. Adetoun Ogunsheye, at the Aboyade Policy Development centre in Ibadan last month.

IT is an open secret that Nigerian’s economy is being systematically and deliberately raped as often canvassed in this column, what is obvious is that Nigerians have become poorer despite bountiful revenue and heavy debt accumulation over the years.

The strength of a nation’s currency is an expression of the vibrancy, and robustness of that country’s economy. Conversely, a very weak currency therefore is a mark of a country with a perverse economic mix.

THE Finance Minister, Olusegun Aganga and his entourage have planned roadshows traversing markets in Europe and the United States to promote Nigeria’s credit worthiness and facilitate popular subscription of a proposed $500m/Euro loan.

IT seems strange but true that the more dollars we earn, the more are the challenges of Excess Naira liquidity, inflation, higher cost of funds and a weaker naira exchange rate. The above title was first published in Punch and Vanguard newspapers in January 2014. Please read on.

Evidently, the controversy surrounding appropriate naira exchange rates has been sustained over the years; nonetheless, the fundamental questions remain the same. In this week’s article, we will provide answers to some of the most frequently asked questions regarding the naira exchange rate. Please read on:

The increasing gap between official and parallel market naira exchange rates has lately propelled a fresh call from corporate financial establishments and diverse speculators (both local and foreign) for CBN to unhinge naira from the purported present ‘flexible’ peg of N305=$1, despite the horrendous social and economic deprivations which such a humble exchange rate has already precipitated nationwide.

In December 2016, the finance minister Mrs. Kemi Adeosun responded as follows in a text message to Reuters reporters that, “The CBN is working on the elimination of arbitrage.” Furthermore, Isaac Okorafor, CBN’s spokesperson, confirmed in a press statement that the bank was working towards “ensuring there is no black market,” see Punch 21/12/16.

BY HENRY BOYO The market price of crude oil steadily increased beyond $50/barrel after OPEC agreed to cut output by about 1.2million barrels/day recently. Nigeria’s export revenue prospects will consequently be boosted if the price trend is sustained, particularly if restiveness is minimized in the Niger Delta. However, much against popular expectation, the more bountiful […]

The Nigerian Public service is reportedly heavily burdened with a ghost population, who not only unexpectedly write job applications and present themselves for interviews, but who also open bank accounts and collect salaries, despite their human shortcomings! Curiously, the CBN’s “know your customers” directive to banks was obviously no deterrent to the establishment of bank accounts for such ghosts!

The Nigerian Public service is reportedly heavily burdened with a ghost population, who not only unexpectedly write job applications and present themselves for interviews, but who also open bank accounts and collect salaries, despite their human shortcomings! Curiously, the CBN’s “know your customers” directive to banks was obviously no deterrent to the establishment of bank accounts for such ghosts!

It has sadly become a tradition for annual fiscal plans to be packaged with flowery phrases which elicit hope for rapid improvement in social and economic enhancement, with the expected budget implementation.