Our Naira

There is no doubt about the sincerity of purpose on the part of Professor Charles Soludo, Governor, Central Bank of Nigeria , towards his now suspended re-denomination policy on Nigeria ’s national currency, the Naira.  The major contending issue is the method or the manner in which he presented the policy among others to the generality of Nigerians without, according to the government, a written authorization from President Umaru Musa Yar’Adua

The news of the suspension order expectedly elicits dimensional feelings among Nigerians, depending on which side of the divide you are.  For the pro-policy, it is a bad news, good news for pro-establishment and perhaps an uncertain news for the future of the Nigerian currency.  However, after the pros and cons of the policy have been debated in the public arena since it was announced, there is need to look at the areas of conflict between the government’s stand against that of the head of the apex bank.

However, the main focus of the policy,  which borders on how best to enhance the strength of the naira against the dollar in particular, and the need to bring about the much desired respect for the value of the currency in general, undoubtedly ought to be supported by all right thinking Nigerians.  These two-fold desires are what prompted some Nigerians to quickly give kudos to Soludo on his bold move, without paying attention to the political implications of his action. 

The Naira is our common heritage and the need to make the at par with the Dollar is a sensation.The value of your local currency sometimes the viability of your own Econmony.
The proposed Naira at par with the dollar should have allowed to see the light of the day.
Some day we will get there.