CBN GOVERNOR SAYS NAIRA MAY FALL TO N1000 PER DOLLAR!!!

RELATED ITEMS: CBN, CBN GOVERNOR, MR. GODWIN EMEFIELE
REGARDING THE CONSTANT DEPRECIATION OF NAIRA, A REPORT WAS PUBLISHED ON NIGERIAN CAMERA, BEARING AN INTERESTING STATEMENT BY MR. GODWIN EMEFIELE, THE GOVERNOR OF THE CENTRAL BANK OF NIGERIA, [CBN] AND HIS PREDICTION OF A CONTINUOUS FALL IN NAIRA.

Mr Godwin, who has served as Chief Executive officer and Group Managing Director of Zenith Bank Plc and also Deputy Managing Director of
same company, gave a lengthy breakdown of why he thinks Naira may fall to N1000 per dollar in the nearest future.

Mr. Godwin Emefiele’s Report:
“IT IS EITHER I DO NOT UNDERSTAND ECONOMICS AND HOW EXCHANGE RATES
WORK OR A VAST MAJORITY OF US NIGERIANS STILL DON’T GET HOW WE HAVE WRECKED OUR COUNTRY WITH OUR
OWN CURIOUS CHOICES.

JUST THIS MORNING, I WAS LISTENING TO THE RADIO AND THE LADY ON AIR WENT ON AND ON ABOUT HOW SHE THOUGHT CBN GOVERNOR, GODWIN EMEFIELE WAS
INCOMPETENT AND SHOULD BE SACKED BECAUSE THE NAIRA WAS NOW EXCHANGING AT 309 OR SO TO THE USD.

“THAT VIEW PRETTY MUCH ECHOES THE SENTIMENTS EXPRESSED BY MANY PEOPLE I KNOW AND IT AMAZES ME THAT THERE ARE NIGERIANS WHO ACTUALLY THINK THERE IS SOME MAGIC POLICY THAT
CAN MAKE THE NAIRA STRONG IN THE NEAR TERM.

IF MY ECONOMICS AND MY UNDERSTANDING OF THE WAY THE WORLD WORKS ARE RIGHT, THEN THAT IS AS FAR FROM THE TRUTH AS JESUS
CHRIST IS BLACK.

CBN GOVERNOR, MR GODWIN EMEFIELE
“THE SIMPLE FACT OF THE MATTER IS THAT APART FROM OIL THAT ACCOUNTS FOR OVER 90% OF OUR REVENUES,
WE REALLY DON’T HAVE MUCH OF AN ECONOMY.

WE HARDLY PRODUCE ANYTHING, WE
IMPORT EVEN TOOTHPICKS, SO EXACTLY WHAT POLICY IS GOING TO BE IMPLEMENTED THAT WILL TURN NIGERIA
INTO A TOP EXPORTING ECONOMY IN THE NEARTERM?

WHERE ARE OUR APPLES, IBMS, DISNEYS, GMS, GENERAL ELECTRICS, COCACOLAS, EMPIRE STATE BUILDINGS, STATUES OF
LIBERTIES, LOCKHEEDS, CITIBANKS, JP MORGANS, EXXONMOBILS, NBAS, SUPER
BOWLS ETC?

LET ME BRING THAT CLOSER HOME.
“THERE WAS A TIME LONG AGO WHEN NIGERIA HAD A TRULY STRONG ECONOMY
AND THE NAIRA WAS ONE TO THE DOLLAR – EVEN EXCHANGED FOR HIGHER THAN THE USD, BUT THAT NIGERIA IS NOT THIS
NIGERIA.

SADLY THAT NIGERIA WAS LAID BY THE
BRITISH, AND THIS NIGERIA (IF YOU DON’T BELIEVE IN THE NONSENSICAL IMPERIALIST
CONSPIRACIES LIKE ME)
–FUELED BY THE DAMAGING INDIGENIZATION DECREE, HAS BEEN THE CREATION OF US NIGERIANS. BACK THEN WE HAD A BOOMING ECONOMY.

WE WERE EITHER THE TOP, OR AMONG THE TOP EXPORTERS, OF TIMBRE, COCOA,
GROUNDNUTS, RUBBER, PALM OIL, ETC, IN THE WORLD.

NIGERIANS NOT ONLY HOLIDAYED AT HOME IN THEIR VILLAGES, AT YANKARI
GAMES RESERVE, AT OBUDU CATTLE RANCH, AT OGUTA LAKE, AT IKOGOSI SPRINGS, AT GURARA FALLS, AT
MAMBILLA PLATUEAU, ETC,

WE ATTRACTED INTERNATIONAL TOURISTS
WHO BROUGHT IN LOADS OF FOREIGN EXCHANGE. EVEN NIGERIAN SCHOOLS WERE FOREIGN EXCHANGE EARNERS
BECAUSE THEY ATTRACTED FOREIGN STUDENTS.

“WE HAD DIFFERENT CAR ASSEMBLY PLANTS – PEUGEOT, VOLKSWAGEN, ANAMCO ETC.

NIGERIAN GOVERNMENT OFFICIALS ONLY BOUGHT VEHICLES ASSEMBLED IN
NIGERIA FOR OFFICIAL CARS.

WE HAD A THRIVING SPORTS
INDUSTRY. WE WERE NOT MAN UNITED OR CHELSEA FANS, WE WERE RANGERS OR
IICC FANS.

WE HAD THE NDUKA ODIZORS, PEOPLE
MADE MONEY FROM SPORTS.

WE ALSO HAD COMPANIES LIKE LENNARDS AND BATA PRODUCING SCHOOL SHOES
IN THEIR THOUSANDS, WE HAD THE THRIVING NIGERIAN AIRWAYS AND THE AVIATION SCHOOL IN THE NORTH THAT
PRODUCED SOME OF THE BEST
PILOTS IN THE WORLD.

IN THOSE DAYS IF YOU WERE
BRILLIANT YOU WERE RESPECTED MUCH MORE THAN THE CRASS MONEY-MISS ROAD CONTRACTORS OF
TODAY.

MOST OF THE AJE BUTTERS I KNEW HAD
FATHERS WHO WERE UNIVERSITY DONS. BACK THEN IT MEANT SOMETHING
TO ‘KNOW BOOK’.

OUR TEXTILE INDUSTRY WAS ALIVE
AND WELL.

JUST RECENTLY I WATCHED A NEWS REPORT ON THE TEXTILE INDUSTRY IN
NIGERIA ON CCTV NEWS. THOUGH THE MAIN FOCUS WAS ON THE COMATOSE
STATUS OF THE INDUSTRY, I WAS STUNNED BY THE GIGANTIC KADUNA TEXTILE MILL BUILT IN 1957. I COULD
GO ON AND ON.

“TODAY HOWEVER, NO THANKS TO OUR PARENTS (AND WE MUST CALL THEM
OUT THE WAY WOLE SOYINKA DID HIS GENERATION) AND MANY OF US (AND WE
SHOULD BE REMEMBERED FOR FAILING OUR CHILDREN IF WE CONTINUE LIKE THIS), WE HAVE DESTROYED EVERYTHING.
TODAY FOR INSTANCE NIGERIAN
FOOTBALL (WHICH COMES EASY TO ME OBVIOUSLY) DOESN’T APPEAL TO US, WE
HAVE TO FLY ACROSS THOUSANDS OF MILES TO WATCH ‘OUR’ CLUBS PLAY.

EVERY YEAR WE COLLECTIVELY
BURN BILLIONS OF NAIRA BEING FANS OF CLUBS THAT GIVE US NOTHING BACK, BUT
SOME ‘ENTERTAINMENT VALUE’ – SIMPLE PLEASURES FOR WHICH WE ARE READY TO
DESTROY THE FUTURE OF OUR CHILDREN.

“WELL PEOPLE, PAYBACK TIME IS HERE. EVEN WITH OUR TA-SHE-RE MONEY WE ALL WANT TO WEAR DESIGNER CLOTHES
AND CARRY DESIGNER BAGS, ARMANI, GIVENCHY, LOUIS VUITTON ETC. WE ALL WANT TO DRIVE JEEPS WITH
AMERICAN SPECS, OUR CHILDREN MUST NOW SCHOOL OVERSEAS AND
ACQUIRE THE NECESSARY ACCENTS TO COME BACK HOME AND BAMBOOZLE THEIR ‘BUSH AND CRASS’
CONTEMPORARIES THAT THEY LEFT BEHIND.

WHO HOLIDAYS IN NIGERIA ANYMORE, IS
THERE DISNEYLAND HERE? NO ONE BUYS MADE-IN-NIGERIA SCHOOL BAGS FOR THEIR CHILDREN, AFTER ALL NO SUPERMAN OR INCREDIBLE HULK OR CINDERELLA ON THEM.

“WE ARE NO LONGER TOP EXPORTERS OF ANYTHING AND THE DEMISE OF OIL
MEANS WE HAVE ZILCH… ZERO.
A COUNTRY OF 170M FASHION-CONSCIOUS PEOPLE HAS NO TEXTILE INDUSTRY.
WE TAKE DELIGHT IN SHOWING HOW OUR MADE-IN-SWITZERLAND ASO EBI IS
DIFFERENT CLASS TO EVERYONE ELSE’S. WHEN WE HELP OUR MUSICIANS GROW
AND PAY THEM MILLIONS, THEY REPAY US BY IMMEDIATELY SHIPPING THE
MONIES OVERSEAS TO PRODUCE THEIR “I-DON-DEY-DIFFERENT-LEVEL” MUSIC
VIDEOS.

IT MAKES NO DIFFERENCE THAT DISTINCTLY ZULU DANCERS ARE DANCING
TO A NIGERIAN HIGHLIFE SONG.

“AS STARS CONCERNED THEY ALSO WED AND HOLIDAY OVERSEAS TO IMPRESS US ALL.

ALL THE MUSICIANS WHO ACKNOWLEDGE THEIR AJEGUNLE ROOTS NOW SPEAK
IN A COCKTAIL OF STRANGE ACCENTS TO SYMBOLISE HOW MUCH THEY HAVE BLOWN THEIR MONIES OVERSEAS.

WERE WE A MORE SERIOUS PEOPLE, THE HIGHLY POPULAR KINGSWAY STORES OF THE PAST WOULD PROBABLY HAVE
A THOUSAND OUTLETS PAN NIGERIA TODAY SUPPORTING A MASSIVE AGRICULTURE INDUSTRY AMONG OTHERS,
BUT TODAY WE HAVE THE LIKES OF SPAR, SHOPRITE, DOMINATING THE RETAIL
INDUSTRY WHILE KINGSWAYIS DEAD.

“AND WE NIGERIANS MAKE IT A SPECIAL POINT TO SHOP FROM THE OYINBOS WHO
HAVE ‘CLEANER SHOPS’, ‘BETTER THIS AND BETTER THAT’. FOR OUR PERSONAL
PLEASURE WE DON’T MIND THEM DOMINATING US IN OUR OWN BACKYARD AND SHIPPING PROCEEDS
OVERSEAS.
I COULD GO ON AND ON, BUT I DON TIRE.
EVEN AS YOU ARE READING THIS, STOP FOR A MOMENT AND LOOK AROUND YOU.
WHAT YOU SEE WILL PROBABLY EXPLAIN WHY WE ARE LUCKY IT IS NOT N1000 TO
THE USD YET.

AND DON’T THINK FOR A MOMENT THAT
IT CANNOT GET THERE.

“JUST CONTINUE TO WEAR YOUR ARMANI GEAR AND SWISS-MADE LACE, CONTINUE
TO SPEND YOUR MONEY ON MAN UNITED, ARSENAL, CHELSEA AND BARCA AND ENCOURAGE YOUR CHILDREN TO DO SAME.
(MY ARTICLE TOMORROW IN MY SATURDAY
COLUMN IN THIS DAY IS ON THE NIGERIAN CHAMPIONS ENYIMBA FC – NIGERIA’S
MOST SUCCESSFUL CLUB –NOT HAVING A SPONSOR, YET NIGERIAN BRANDS PAY OVER N600M TO MAN UNITED AND
ARSENAL FOR SPONSORSHIP TO IMPRESS US.)

EHHH, NO PROBLEM, CONTINUE TO TELL
ME THE NPFL IS RUBBISH OR THE CLUBS SHOULD CLEAN UP THEIR ACT IF THEY WANT
SPONSORSHIP, MO GBO.
“DON’T CURTAIL YOUR INTEREST IN CHOICE WINES ( WE WERE THE NUMBER ONE CHAMPAGNE CONSUMERS IN
THE WORLD IN 2015), CONTINUE TO LOVE YOUR AMERICAN SPECS, CHEER THE EDUCATION MINISTRY FOR LETTING SCHOOLS SINK TO PITIABLE LEVELS, DON’T FIGHT THEM TO IMPROVE OUR
SCHOOLS, DON’T CHIDE THEM
FOR LETTING SCHOOLS DROP NIGERIAN HISTORY AND EMBRACE BRITISH, AMERICA
AND WHATEVER ELSECURRICULAR.

“CARRY ON WITH YOUR LOVE OF FRENCH WINES AND CHINESE SILK, DON’T BOTHER
ABOUT JAMIU ALLI WHEN THERE IS ROGER FEDERER.

STOCK UP ON YOUR ITALIAN, AMERICAN, BRITISH PRODUCTS WHICH YOU
CANNOT LIVE WITHOUT, INCLUDING THE ‘BABY SOFT’ TOILET ROLLS PRODUCED
ONLY IN THAT SMALL UNIQUE VILLAGE IN ENGLAND – THE DAYS ARE LONG GONE SINCE YOU WERE A BROKE STUDENT
WHO USED WET NEWSPAPERS TO WIPE YOUR BUTT.

“DON’T EVEN CONSIDER HOLIDAYING IN NIGERIA, IT’S TOO DANGEROUS – YOU HAVE TO FULFILL YOUR DREAM OF
BEING NIGERIA’S HENRY FORD.
DON’T LISTEN TO PEOPLE LIKE ME WHO HAVE A WARDROBE FULL OF ONLY
CHEAP ADIRE THAT IS ACTUALLY CHEAPER THAN JUST ONE OF YOUR TOM FORD
BLAZERS.

PLEASE KEEP DRESSING IN FINE SILK MADE
IN SOME EXOTIC PLACE SO YOU CAN BE ADDRESSED ACCORDINGLY.

“FINALLY KEEP LETTING CORRUPT LEADERS WHO HAVE LOOTED YOUR
COMMONWEALTH AND SHIPPED ALL THE MONIES OVERSEAS GET AWAY BECAUSE
TO ATTACK THEM DOES NOT FIT YOUR POLITICAL NARRATIVE.

LET US CONTINUE WITH THE FINE LIFE, LET US ALL CONTINUE TO WORK FOR OYINBO.

BUT DON’T FORGET THAT THERE IS PAYBACK TIME AND EMEFIELE IS NOT YOUR
PROBLEM.

TIME FOR US ALL TO LOOK IN THE MIRROR AND TAKE RESPONSIBILITY.

Who has time for term paper

Best explanation for our present predicament in Nija.....The price we are paying for our inferiority complex as a nation...We need to wake up the spirit of nationalism and take pride in everything Nigerian, The drop in value of nairaland appears directly proportional to our level of support for our local industries/made in Nigeria.....Oyinbo people have found the weakness in the most populous black nation on the planet and they will capitalize on it! Nigerians really needs to look at " the man in the mirror". Great analysis by OP.