Any economy is as strong as its banks. So, if this is “our worst possible time”, then no sector of the economy reflects our situation better than our banks. That many are hanging on the ropes is obvious. We will mention a few reasons they may be in this situation for a long time to provide food for thought for the Federal Government and the Central Bank of Nigeria (CBN).

THE deployment of arms and military operational machinery in the Niger Delta is a clear pointer to the imminent take-off of “Operation Crocodile Smile” aimed at securing the nation’s economic interests in the oil-rich region.

Although all the nine banks –First Bank, Diamond Bank, Sterling Bank, Skye Bank, Fidelity Bank, United Bank for Africa, Keystone Bank, First City Monument Bank, and Heritage Bank — suspended from the foreign exchange market have since been readmitted by the Central Bank of Nigeria (CBN), the episode points to the need for caution when the regulatory authorities decide to wield the hammer to redress perceived violations.

Within 24 hours of the visit of Alhaji Aliko Dangote and the co-Founder of The One Campaign, David Hewson of the U2 rock group to the Internally Displaced Persons (IDPs) camps in Maiduguri, the IDPs went on another street protest, the second within one week, alleging ill-treatment and poor feeding by government and other supposed humanitarian agencies.

President Muhammadu Buhari’s Economic Team headed by Vice President Yemi Osinbajo, has served notice of its intention to introduce a bill in the National Assembly (NASS) seeking “emergency” powers to fix the economy.