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NAIRA: Appropriate Value Or Stronger Value. What Should Be Our Choice? - Politics - Nairaland

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NAIRA: Appropriate Value Or Stronger Value. What Should Be Our Choice? by shadeyinka(m): 6:46am On Jun 19, 2016
NAIRA: Appropriate Value or Stronger Value. What should be our choice?

I don't understand why many people rejoice over the new CBN policy? Floating the value of the Naira is OK, but does it solve the problem of scarcity of the Dollar?

Most people including our economics experts seem to forget that what finally determines the value of the Naira is the reserve in foreign exchange we have as a country.

The less we import, the stronger the Naira becomes. Every currency is like a Prostitute; When she does not have taste and sleeps with everybody including beggars, destitutes and Boko haram, her value diminishes (N50 per Night). Unlike If she is choosy, Fratanizing only with the likes of Governors, Senators and Business men.

Do you know that our dear Naira had been gbenching toothpicks, needles, threads, matches, ... What do we not Import In this country?

I do not think that floating the value of the Naira should be our problem. What we should be talking about is STRENGTHENING our Naira. It is no rocket Science, It does not even require CBN Intervention. We need to start Producing both Industrial and commercial goods both for export and consumption.

Every other action different from this is just speculations.

I rest my case.

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