THIS DUARANOMICS WILL RUIN BUSINESS AND OSTRACIZE NIGERIA YET AGAIN By Ena Ofugara

In 1984 Buhari changed the naira. That was what killed the naira tll today. Before then, you could fly to London and America with naira in your pocket and exchange it in London at your convenience. The naira I had in my pocket when I arrived the US was useless to me. I had to look for a Nigerian going home and give him to begin his "egbon" runs and airport bribes with it.

Indeed I said all these during campaigns. I stated that that singular exchange and refusal to honour foreign banks request to exchange the naira, made Nigeria never to be trusted. YES MONEY IS TRUST. It is not gold. It is mere paper. Any moves that changes its policy removes that trust and as something exchanged for goods, who will want a useless uncertain paper in exchange for a car or building material.

Today again, after years of a rather stable naira, our monolithic oil-based economy took a hit as the price of oil has fallen. The naira will fall too. And despite APC blaming Goodluck Jonathan....sorry..despite Nigerians blaming Goodluck Jonathan for a fall in the naira, and despite PDP spinning the narrative that Buhari is alseep hence the fall in the naira, the fact remains that stronger economies like Russia have had to devalue their currencies. All nations reliant on crude sales have their currencies losing value. The dollar is at its strongest for a long long while because America no longer needs the worlds oil.

Still business ought to go on. EACH NATION'S CURRENCY, LIKE WATER MUST SEEK ITS LEVEL. The dollar is the universal monetary unit and for global business, to be one with the world, its use is never restricted een in Russia and China. These countries tried it once during communism and they failed.

Buhari and his Dauranomics refuses to allow water to seek its level. I have shared all the almost criminal policies being implemented by the CBN and Buhara and his DAURA-NOMICS. I need not begin to enumerate the hardship this is causing. So having obtained a MASTERCARD with the understanding you can use your card globally as mastercard is used in all countries, having gone into obtaining the card under such understanding, knowing the latin phrase PACTA SUNT SERVANDA, (agreements must be kept), those who went and got mastercard will find the agrement BREACHED and their cards no longer of use abroad. Those who use Guaranty Trust bank will find that paying money into their account in Nigeria, they cannot withdraw it in dollars in the US. and yours truly was trying to open an account with them.

Now also the foreign companies who have outlined their modus operandi for the next one year....5 years even, will find the money policy changing again, just because Buhari is ashamed that he will devalue the naira.

The last big mumu...sorry the last leader to do such a thing was Abacha who idiotically....who emm who emmmm peged the naira to the dollar at 21 naira, thus allowing people like his son to go in central bank with 21 naira and leave with a dollar and sell that dollar for 148 naira. Mutiply that by a billion and calculate the profit. This "legal business" is perhaps one of the reasons Buhari said "abacha did not steal a kobo". The policies throw up terrible opportunities for the unscrupulous.

Now nobody says a country should not guard its currency and have a say over it. But must it be AT THE EXPENSE OF LOGIC AND BUSINESS?

Do feel free to add your voice

source...

I don't feel sorry for anybody That laments about This Policy.


Nigérians only cry when the Policy hits on them. The CBN started with undue limitations to forex by importers of some items, nobody cared...they went on to ban deposits to domiciliary accounts, everybody applauded it because not many use doma accounts. Now they have arrived on cards as expected and You are already crying because you've become directly affected.

The Policy is here to stay

" YES MONEY IS TRUST. It is not gold. It is mere paper. Any moves that changes its policy removes that trust and as something exchanged for goods, who will want a useless uncertain paper in exchange for a car or building material."


That said it all.

benzics:
THIS DUARANOMICS WILL RUIN BUSINESS AND OSTRACIZE NIGERIA YET AGAIN By Ena Ofugara

In 1984 Buhari changed the naira. That was what killed the naira tll today. Before then, you could fly to London and America with naira in your pocket and exchange it in London at your convenience. The naira I had in my pocket when I arrived the US was useless to me. I had to look for a Nigerian going home and give him to begin his "egbon" runs and airport bribes with it.

Indeed I said all these during campaigns. I stated that that singular exchange and refusal to honour foreign banks request to exchange the naira, made Nigeria never to be trusted. YES MONEY IS TRUST. It is not gold. It is mere paper. Any moves that changes its policy removes that trust and as something exchanged for goods, who will want a useless uncertain paper in exchange for a car or building material.

Today again, after years of a rather stable naira, our monolithic oil-based economy took a hit as the price of oil has fallen. The naira will fall too. And despite APC blaming Goodluck Jonathan....sorry..despite Nigerians blaming Goodluck Jonathan for a fall in the naira, and despite PDP spinning the narrative that Buhari is alseep hence the fall in the naira, the fact remains that stronger economies like Russia have had to devalue their currencies. All nations reliant on crude sales have their currencies losing value. The dollar is at its strongest for a long long while because America no longer needs the worlds oil.

Still business ought to go on. EACH NATION'S CURRENCY, LIKE WATER MUST SEEK ITS LEVEL. The dollar is the universal monetary unit and for global business, to be one with the world, its use is never restricted een in Russia and China. These countries tried it once during communism and they failed.

Buhari and his Dauranomics refuses to allow water to seek its level. I have shared all the almost criminal policies being implemented by the CBN and Buhara and his DAURA-NOMICS. I need not begin to enumerate the hardship this is causing. So having obtained a MASTERCARD with the understanding you can use your card globally as mastercard is used in all countries, having gone into obtaining the card under such understanding, knowing the latin phrase PACTA SUNT SERVANDA, (agreements must be kept), those who went and got mastercard will find the agrement BREACHED and their cards no longer of use abroad. Those who use Guaranty Trust bank will find that paying money into their account in Nigeria, they cannot withdraw it in dollars in the US. and yours truly was trying to open an account with them.

Now also the foreign companies who have outlined their modus operandi for the next one year....5 years even, will find the money policy changing again, just because Buhari is ashamed that he will devalue the naira.

The last big mumu...sorry the last leader to do such a thing was Abacha who idiotically....who emm who emmmm peged the naira to the dollar at 21 naira, thus allowing people like his son to go in central bank with 21 naira and leave with a dollar and sell that dollar for 148 naira. Mutiply that by a billion and calculate the profit. This "legal business" is perhaps one of the reasons Buhari said "abacha did not steal a kobo". The policies throw up terrible opportunities for the unscrupulous.

Now nobody says a country should not guard its currency and have a say over it. But must it be AT THE EXPENSE OF LOGIC AND BUSINESS?

Do feel free to add your voice

OP, do you have a link for this post?

atlwireles:


OP, do you have a link for this post?

When they are out of words, they bring up irrelevant questions. I clearly stated the author of the post. And what need would the link do you?

atlwireles:


OP, do you have a link for this post?

No need for any link. Search for "Ena Ofugara" on facebook. The guy is blazing hot.

benzics:


When they are out of words, they bring up irrelevant questions. I clearly stated the author of the post. And what need would the link do you?

I know the author, that was why I asked for a link. He is a regular on delta news room.