THE #FOES BEHIND THE BLEEDING NAIRA.

Tonight, we need not extend the prelude of this piece to how our NAIRA got to this end again, as there are already pool of... literature on this. What is most germane at present is for us to #educate ourselves about the drummers beneath the sea, #symphonizing the plankton called #NAIRA above the Sea Level ; since the CBN couldn't come out clear on the exact 'factors of the moment' responsible for the tumbling of Naira, having subsumed the primary factor (importations) to some notable extents. As an Import driven economy,i go and subscribe fully to all the discussions made so far on the relationship that exists between Importations and our Local currency by columnists.
There wouldnt have been need for this piece, if the market value of naira hadnt been a function of what is traded at the parallel Market. Since what becomes of Naira is now being measured by what is obtained at the parallel market, due to excessive bureacratic principles at the Conventional market(the banks) which has drifted prospective buyers away and likewise pushed them to the parallel market. It is therefore Important to examine the forces in the parallel market as they affect our Local Currency. In order to give this piece a precise direction, l will like to identify that,
there are 3 PRIMARY KEY SOLUTIONS as earlier noted by technocrats across the country, to bringing naira back to a strong and stable Value. They are (1) Cut in importations (2)export enhanced driven policies(which will increase the flow of forex) and (3) stern measures against round tripping in the parallel market if (the market) could not be axphyxiated. The mind boggling question is now centred on what could still be responsible for the continous poor performance of NAIRA AGAINST DOLLAR, since the First two solutions mentioned above have been improved upon to the positive side of our economy to some extents. If at all, their impacts have not been felt directly by the masses, they ought to have reflected on our Local currency in term of APPRECIATION OF NAIRA. This will no doubt shift our focus on to the 3rd factor itemized above. (the parallel Market as mentioned Above). I CAN'T SAY OF LATER DATES, BUT as at moment, The Parallel Market is THE UNTAILED HEADED HYDRA that is depriving Nigerians of enjoying true Value of their Money. FOR THE CBN not to identify this or for them to still be identifying Shortage of Forex (which no doubt is a factor) but as the primary problem, is either as a result of "THE FEAR TO PINPOINT THE BIG NAMES (AS CBN OFFICIALS WILL DEFINATELY ALSO BE INVOLVED) WHO ARE THE ONES CONTROLLING (BEHIND THE BACK DOORS) THE PARALLEL MARKET FOR PROFITEERING SAKE" , or "THE ORGANIZATION CALLED CBN HAS LOST THE TRUE SENSE OF ITS STATUTORY FUNCTIONS". The astronomic increase in the prices of commodities are due to what is obtained at the parallel Market. Due to the unchecked Outrageous gap between what is obtained at the Conventional market and the parallel market, dubious banks' officials have even preferred to always divert the Forex they are being allocated by the CBN to the parallel market for Profiteering sake. We need not deceive ourselves as It is Crystal clear that #FOREX is being allocated to high power wielding government official in the 3 arms of government (the executive, legislature and the judiciary) , the forex which are taken by them to the parallel market for sale at the HIGHEST BIDDER(S) PRICE(S). The main reason why the CBN has not been able to go tough towards curtailing the parallel market is because of the Conspiracy in the ALLOCATION OF FOREX, especially to these KEY GOVERNMENT OFFICIALS within the CBN and other Government Establishments and even to those that are not in government but are high ranking stakes in our Society. These are the people that are getting the Forex and selling at exhorbitant prices at the parallel Market where transactions are unchecked. Even the Little being allocated to the BANKS , they have also resorted to trading them at the parallel market where returns will be in double or three folds compared to when sold in the banking halls. This has led to increase in the Cost of production which is what translates to the inflation in our market. I CLEARLY understand that CRUDE OIL is still trading at low ebb in the International market which is negatively affecting our Forex earnings. But, if the outgrown wings of the parallel market remain unclipped, by the time the FOREX is booming, it is as easy as moving more of the FOREX to neighbouring Countries, thereby creating artificial scarcity in Nigeria which will make Naira to remain poor in performance(especially if we are still import driven then). This will make Nigerians to continue to crave for edibles and non edibles at astronomic prices. UNTILL THE MASSES GO TOUGH AFTER THESE IMPOSTORS , things are likely to remain thesame as NIGERIA FEDERALISM IS TOO BIG TO BE UNDER THE CONSTANT CYNOSURE OR CHECK OF MR PRESIDENT

Bleh bleh bleh

Faust77:
Bleh bleh bleh

and what does this mean