₦airaland Forum

Just yesterday, Nigerians rose to hear the much expected news of the sudden crash of the naira from N200 to $1 to a Ñ235 to the USD. Barcanista in his yesterday thread warned Nigerians on the poor economic policies of this administration regarding the true value of the naira. He opined that in a Democratic state, the market should be allowed to determine the value of the national currency based on sound economic and prudent management. Most sound economic and political analyst agreed with this view. However, the Sai Baba group chose to be blinded by the cosmetic appreciation of the naira. The CBN under Emifiele is threading in the wrong direction in saving the value of the naira. This massive crash of the value of the naira has once again vindicated our erudite e-political cum economic analyst.





Saint Opus write from Buguma ASALGA

mitcheew

Under-rate barcanista at your political peril, he was on song yesterday.

Change Your Consciousness, Change Your Life

Gbam!

@saintopus
Very well written article, kudos.

He "have been vindicated" indeed.

we are in pseudo-democracy. GEJ went with democracy.

RickRichards:
He "have been vindicated" indeed.

Modified

Well the sudden crash doesn't really conclude the argument. Because we don't know what may come tomorrow. The fact is that the naira to the dollar ratio changes daily according to a host of factors and so is not left solely to the strength of the naira. But the argument that is binding is the fact that the exercise by the CBN is just a short term reactive measure to shore up the value of the naira in order to add some positivity to the current administration. The position that the exercise could have added some gain to the naira was pure lunacy due to the fact that the purchasing parity of the naira can only be improved by improving the productive capacity of our industries . in order to have a strong currency we have to have products that are marketable to the outside world. Any other attempt would only lead us to a situation of one day up, the next day down, period. We need to start thinking long term(strategy) and not short term( tactics)

How can king of wailers ever be vindicated when his pay slave master employed the current CBN governor and caused the problem for this present government in the first place. Story for the gods!!!

Mogidi:
Under-rate barcanista at your political peril, he was on song yesterday.

mumu gidi always showing his mumu every comment he made