CBN has finally decided to resume dollar sales to Bureau De Change

According to Vanguard News, CBN shall resume dollar sales to BDCs,  this is coming barely weeks after CBN published its new guidelines for foreign exchange policy. For more details  read Vanguard News.

Comment: We thought the whole idea of having a level playing ground for the foreign currency was to strengthen the Nigerian economy, now what informed CBN’s new decision to revert to its old policy?

A. Brexit? But CBN said the British decision to leave the EU strengthened the Nigerian Economy and in effect the naira. So?

B. The gap between the interbank and parallel market rate in the wake of  further depreciation of the naira in the parallel market.

It appears CBN is just confused. Then,

Let the Top Class Nigerian Economists do the analysis and give CBN an opinion on how to strengthen the naira.

Ekweremadu writes UN, US Congress, UK, EU, others

In his letter, he said the trumped up charges against the presiding officers of the 8th Senate should be judged by the these bodies on whether it is justifiable and  not purely borne out of political vendetta. Read more on Vanguard News.

Comment: Like earlier written on ‘And the Saraki Drama Continues.’ Saraki and Company are at it again. Now they have to appeal to foreign bodies to bail them out of the pepper soup they have found themselves in. Innovation shall never end. Very soon they will write a letter to heaven asking for justice. It only shows the depth of desperation.