CBN, Currency re - design and the rest of us

 

Historians say during PMB'S first stint as Head of State in 1984, he tampered

with our currency, now again, he is at it.

Personally, my comments would be about now and not the past.

Nigerian economy is Blessed with many economists but very few producers.

Our economy is Import dependent and that is my biggest worry. I understand that Diesel is as expensive as it now is because it is not enjoying subsidy.

Maybe when we start refining Diesel then the price may come down.

Prices are rapidly rising and it is down to the falling value of the Naira due to our foreign tastes.

Now to the crunch.

CBN wants to redesign Naira to put bandits and money launderers at a disadvantage.

This brings me to mind of a story once told about the writer George Bernard Shaw, who never tired of letting people know that he is very ugly. As the story goes, a lady with very good looks approached him and proposed marriage on the basis that their child would have her looks and Bernard Shaw's brains to which the writer responded by asking the lady of the possibility of the child having his looks and her brains?

While CBN is targeting Bandits and Money launderers, nobody thought of the backlash on the value of our National Currency.

The bandits and Money launderers are men and women of influence. Left to carry the can are the innocent common men and women.

Bandits like Evans the kidnapper can choose to do their business in Dollars.

For all you care this policy could well be another way of putting more Naira in the hands of our oppressors.

The value of the dollar is soaring. Who controls the dollar? Not me. Not you. Who then?

The CBN knows.

The same people who spent dollars to buy votes in their primary elections. Who then is fooling who?

Nothing lasts forever!