The Federal Government may have suspended the Naira reform policy today, Friday due to the failure of the CBN Governor, Prof. Charles Soludo to seek clearance from the Federal Government before going to public with it.
Stay tuned.....
Posts: 89 | From: USA | Registered: Feb 2006
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You cannot run a government based on tit for tat. Yaradua might have felt humiliated by Soludo's sudden announcement of redenomination of Naira. It has been alleged that Yaradua was not aware of Suludo's redenomination moves and the only option availabe to him is to pay Soludo back in his own coins by humiliating him through the reversal of the intended redenomination and also, removing him from membership in the Economic team.
Whatever the fact is, it remains to be seen as Soludo's camp has made it publicly that President Yaradua was not unaware of Soludo's redomination policies.
This Nigeria sef. Man don tire for this so called Nigeria.
Posts: 288 | From: California | Registered: Jul 2003
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This is the reason Nigeria should split. No country in the entire world is governed like Nija Everybody is confused in that country,from those in leadership and the general citizenry.
Posts: 89 | From: USA | Registered: Feb 2006
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I don't know about Nigerian chain of command but is Solude required to consult Musa Yaradua before he takes action? Or is the Central bank of Nigeria not a complete separate entity from the executive branch? Actually, I support the action taken by Solude; only those Nigerians in US who has upper hand in that goddamed naira will object to it.
Hail Biafra Posts: 1674 | From: Minnesota USA | Registered: Mar 2001
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After his apology, Soludo has been humbled. Now, he is a "Yes Man" to Yaradua to save his job. As far as I am concerned, he nolonger can perform his job efficiently and effectively. So, the honorable thing to do is to resign and go back to the classroom.
U.S attorney geeneral Gonzales, resigned lately when he knew that he can nolonger perform due to the mounting pressure on him.
It was alleged that Soludo, typical to the custom of the Yorubas, went to Yaradua and was on his knees begging for his job and probably crying like the crying Yoruba General (Diya) before Abacha.
Soludo, please, you have been humiliated and humbled. So, resign and move on and save yourself from further embarrassment.
Posts: 288 | From: California | Registered: Jul 2003
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I think this whole Naira redenomination is masking the real problem in that Country. The problem right now is that Nigeria have sank so low. I was in Nigeria in December of 2005.I just came back last week from Nigeria again. The level of poverty this time compare to 2005, is about 60% worst. Obasanjo raped and multilated that country. The level of damage done by Obasanjo will take years to dig out. All the remaining infrasture left before Obasanjo came to power is now history.
75% of Nigeria population can't boast of one meal a day, and politician are talking about naira denomination, it is a shame. The Level of crime is at alarming rate and yet we are talking about naira.
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It is a shame that a country like Nigeria is still struggling. This is what we get when it is every man for himself, and too many captains commanding at the same time, with no accountability whatsoever. It also is the end result of having the blind lead sighted people. That country became a joke when Babangida went for the tie system. What a shame the central bank should be autonomous and free from executive control, as corruption is rampant in the country especially from the executive arm of the government.
Posts: 79 | From: United Kingdom | Registered: Jun 2007
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