THE Minister of State for Petroleum, Dr. Ibe Kachikwu, informed newsmen in Abuja, on 17 December, 2015, that the Federal Government would focus on price modulation of petroleum products to ensure efficiency and regular supply of products; price modulation, according to the Minister, has nothing to do with the removal or existence of subsidy.

ONE cannot be certain whether Nigerians should celebrate or decry the recent decision by the Central Bank to reduce the existing annual limit from $150,000 to $50,000, per person on usage of Naira/dollar debit cards abroad.

Media reports, in July 2008, confirmed that the Presidential Committee which probed allegations of $480 million which CBN invested in African Finance Corporation (AFC) had completed its investigations. The Presidency initiated the Committee to address government’s unease with regard to the role played by CBN Governor, in the formation and funding of AFC.

“The report of 14 Nigerian banks which were appointed by CBN as “Asset Managers” of Nigeria’s reserves was carried on back page of The Guardian Newspaper of the October 5th, 2006. Festus Odoko, the CBN’s Head of Corporate Affairs, confirmed in the report that “already deposits worth $7bn representing part of the Central Bank of Nigeria’s “share of foreign reserves” presently estimated at about $38bn had been released to the banking consortium”.

This article was first published in June 2006, but its content has become increasingly relevant as we mark the 56th anniversary of our independence; it is represented once more as a wakeup call to abort the inevitable dire consequences which will jeopardize our relationship as a nation so that we will forestall an inevitable frustration of the hope of our people for a better life. Please read on.