Where is Abacha's loot

Sooner than later, this too will go missing. We will know who has it but can't get it of him.

We know what happened during the gulf war, how  billion's of $ dissappeared. Not like we don't know

who has it.

Invest in the infrastructure now the money has value and that you are still in charge.

We can't never tell what the next president of Nigeria will have as his agenda.

It will be wise for OBJ to take charge and not leave, foreign reserves to chance.

He is an old man, and a Nigerian, I believe He is wise.

The controversy surrounding the nation's actual foreign reserve after the payment of the foreign isn't going away.

A national newspaper hinted that the nation has about $9billion in its foreign reserve while CBN chief,Prof Charles soludo says we have over $36billion in the account.

Come to think of it,who needs $36billion in the reserve when we don't have regular power supply,unemployment,crime,poor funding of the educatioanl sector , hign food prices and bad roads( actually only 15% of Nigerian roads are tarred) that is shameful if you ask me.

Who needs an over bloated foreign reserve when the people are starving?

what do u think?

I think the foreign reserve should be left alone. Having large foreign reserves keeps investors and loaners interested. Nobody wants a repeat of what happened during shagari's government when the price of oil crashed. We've got to think ahead.

"Ahem!"

To start with, it is bad economics to accumulate that amount in the foreign reserves, when the domestic economy is depressed. For the young man (Afeni I believe) who mouthed the high-school textbook argument about the need for a weak currency, please remember that there is no such thing as perfect market conditions in the real world, thus consigning theory to what it is, theory! I'll advise you to acquaint yourself with the work of J.M.Keynes and J.K.Gailbraith for a close approximation of how to revive a depressed economy.
Furthermore, the Nigerian situation has been known to defy prescribed economic models, and that deliberately holding down our currency has done us us no good. Instead, we are working towards boosting local productive capacity and consumption through infrastructural investment. We believe that while this is taking place, we can also leverage on the ingenuity that is inherent in us as a people and diversify. But that is a story for another day.
It should also be noted that throwing money at a problem would not neccessarily solve it. There would still be structural imbalances that require socio-political solutions, and reformation of enabling frameworks. Thus in a nutshell, the Government can not go it alone. As some posters have pointed out earlier, greater investment is being made in some key sectors which would , Insha Allah, bear fruit when this administration is out of office.
With regard to the presence of such a huge amount in the reserves granting us access to credit, I categorically state that (and you can hold me to this) this administration has no plans to engage in such, and with the passage of the proposed fiscal responsibility act, the order of prioritization of projects would be more pronounced.
On a parting note, it should be noted that your reserves are meant to indicate your ability to fulfil import cover for a period (6 months for most economies when their GDP is taken into account. Ours is 5 years) honour international financial obligations, and enhance monetary operations (ask the IMF wetin dat one mean).

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