My thoughts on E - Naira

The Federal Government is to launch our Electronic money, tomorrow 25th

of October 2021.

Where ignorance is bliss, it is foolish to be wise.

I am not an expert in Information Technology. 

My thinking of this novelty is that the Central Bank of Nigeria as a banker to a Government not bound by International norms will willy nilly break rules without scruples.

It was Godwin Obaseki of Edo State who first blew the whistle on the Central Bank of Nigeria for printing money to be shared by the three tiers of Government.

Not knowing of the Governor's strong background in finance, I laughed it off because it is not unusual for Government to print money as a means of borrowing.

But when it becomes a norm, it becomes an aberration. When an aberration becomes the norm, then you birth electronic money.

Usually, electronic money should be backed by paper money but when there is no paper money, then Nigeria is about to enter a new era of audio money.

Expect all manners of fake money. For those with electronic money platforms, it is a new era of bumper sales.

For market women and local transporters beware of fake naira. For Naira will be aplenty for many but fewer in reality.

As nature forbids a vacuum, prices will stagnate in mainstream market but pressures from electronic money holders will cause distortions and birth fake money.

For a Government with scruples, the elephant will be controlled but with elections afoot and permutations aplenty, it is to your tents O Israel.

God is still alive.