My first response to the press release by the Central Bank of Nigeria (CBN) announcing the lifting of the ban on 43 items, and the many overnight Economists saluting same was that the statement is another "jargons" like the ones displaced CBN Governor Godwin Emefiele used to write.
In fact, Emefiele would call a big press conference, and read all the boring sentences in lying paragraphs, and after it all, a big applause would follow. Then, various press outfits would hook up with one or two of the many IMF/World Bank certified pipers to give some high-sounding analyses on radio and TV to press on another months of illusions to Nigerians.
After two months, Naira would rise again, and another set of jamborees begin.
That insane cycle is now continued by Yemi Cardozo and his Team of financial experts, or Team of "Tax Collectors" as Onyinye Gandhi correctly describes them.
I have just two assertions to make here, as a follow-up to all I have been writing on the Naira. First, the Naira is condemned to keep falling as expected of any devalued currency. Two; Naira will keep being subservient to dollar, pound, Euro, and other currencies as far as Nigeria is still practicing a neo-liberal capitalist conomy.
To devalue is to delete the value of a currency. It is usually done out of a grave loss in war or when a country is colonized. Germany after the First World War was forced to devalue, and the economy collapsed further to birth a heinous Hitlerism. Zimbabwe and other who had to devalue are still in the mess of same.
Also, Nigeria is being recolonized by the West and China as our economy is being determined by the policies of the International Monetary Fund (IMF) and World Bank. This is why Tinubu, Atiku, Obi, and Kwankwanso had to go pledging to continue and even deepen Naira Devaluation and Oil Deregulation as basics. The plan of these Western agents and their Local Monguls is to turn Nigeria of a Reserve of raw resources. A country never to produce but serve as the well to which Imperialists dig raw materials for foreign companies.
And Tinubu as president through Yemi Cardozo and the CBN has also gone worse than Buhari to now finish up the economy by making same a global dumping ground.
So, as it is, Naira is falling yakata. And it's just the beginning. The more Tinubu and his Tax Goons borrow billions of dollars to placate Forex, the more the economy get dollarized, and the more the Naira gets more useless than "toilet paper." The ways to go is to stop neo-liberal capitalism in Nigeria and replace same with a production-based Wealth Redistributing Socialist Economy. Two, halt the Devaluation, produce massively locally, fix all refineries, and import only finished goods.
A floated currency will keep sinking. This is the fate of a floated economy. Tell those lying that the biting poverty on the streets and homes are results of the slavery policies of President Tinubu and his predecessors.
To get a stronger Naira and a greater economy, we must get rid of all parties and cabals that are enforcing all wicked ideas of "the rich getting richer while the poor gets poorer!
#RevolutionNow