July 28 (Lagos) - Above is a picture that the current rulers of Nigeria used to attach the government at that time by complaining about Naira being 216 to 1 Dollar. But now 7 years into their governance and less than 1 year left, we have Naira said to be trading at 700 to 1 Dollar.
The Senate has decided to summon the CBN Governor over inflation and Naira devaluation. Where have they been for the past 7 years is not a question we would fail to ask because the current economic mess that the economy is in is a result of policies set in motion by this CBN Governor.
Naira is said to be trading around 700 to 1USD in parallel markets and that has seemed to alarm the senate. It is concerning that they were not alarmed at 400, 500 or 600 to someone like me. After all our senators are some of the highest paid senators in the world so it does not matter to them how we live, eat or cloth ourselves.
Perhaps the senate has started reading our articles to educate themselves on how the policies of CBN over the past 7 years have been devoid of any economic principles. More realistically, they sense that their time at the senate could be up next year when Nigerians head to polls and it is important to do a public showing that they are really doing something about inflation and devaluations. So we have no expectations from this meeting.
A beautiful aspect about Democracy is that the people return every 4 years to select who they want as their leaders. Nigeria does not deserve to me in such a big mess as it is and some of these problems are not that big that they cannot be fixed. Most of us are waiting for 2023 but the way Naira is going down, if it is 700 already we can expect 1000 by Christmas.
reporting for easykobo.com on Thursday, July 28 2022 from Lagos, Nigeria