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Government Can't Stop The Rising Dollar - Business - Nairaland

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Government Can't Stop The Rising Dollar by NotComplaining: 6:37am On Apr 03, 2017
Government cannot stem the downward spiral of the Naira.

Eventually the Dollar will again peak against our beloved Naira. The CBN last-line-of-defense fiscal response to months of depreciating Naira has been exposed simply as a flimsy war cry to the melodrama facing the nations' economy. But the day of reckoning is nigh.

CBN continues to pump billions of precious Dollar into the fragile non-dispensing gargantuan FX market, feeding into the popular narrative that only it can reverse the tide of fortunes and bring about an amicable end to months of trade deficit and crashing reserves.

If anything, it seems the Naira is a personification of Nigerians collectively and individually; locally and internationally; past and present. Our individual contribution is reflected in the Naira; the good, bad and the ugly.

Like FG's KAI initiative to curb disdain for dicipline through presence on popular roads, the CBN's monetary policy cannot be sustained. That is obvious.

Nigeria needs grassroot economic solutions to the myriad of grassroot problems. Our hypocritic stance towards trade is a letdown. Our lopsided approach towards injecting capital into local businesses is a divestment.

The only true way to transform the Naira is to transform the people, and that to me is nearly impossible.
Re: Government Can't Stop The Rising Dollar by orisa37: 8:57am On Apr 03, 2017
Buhari should ORDER the CBN to stem down The Dollar or face SACK.

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