Why the new Interbank Market must not fail
It would seem that a crisis afflicts the Central Bank of Nigeria’s (CBN) recently re-introduced interbank market for foreign exchange. Given the paucity of funds available to the central bank[…]
Category: Economy
The Naira, the CBN, and our new Headwinds
In the immediate aftermath of comments by Ben Bernanke on May 21, 2013 indicating that the U.S. Federal Reserve Bank (the board of which he was then chair of) was[…]
The CBN’s New Market for the Naira
For the second time in as many months, I find myself in near complete agreement with the policy thrust of the incumbent administration. One may cavil at the elaborate procedures[…]
The Price Club: The New Nigerian Naira
I feel like the last year has been one maddeningly long and unending conversation about the exchange rate of the Nigerian Naira. In all that time, I always found it[…]
That Ban on Banks’ Downsizing
For a government that came in to office on the back of its “change” credentials, the Buhari administration is a pretty conservative animal. Its gut instincts are to keep the[…]
Still On Managing The Naira
I could not conceive of a better opening for this piece than the following fable. A colleague (we will call him “Abu-Bakr” for convenience) is informed that he has won[…]
‘There Is A Great Deal Of Ruin In A Nation’
Nigeria’s GDP figures were released yesterday. For people who like to watch horror movies, the numbers were like a dream come true. There was blood everywhere. The infographic below gives[…]
The Economy, Any Path Out Of The Woods?
Like the fate of flies before wanton boys, the outlook for the domestic economy is pretty hard to call at this juncture. True, a plethora of key indices are headed[…]
Short Story: Nigeria Over A Barrel
Ibe Kachikwu Studios put out their latest movie yesterday starring Ibe Kachikwu, of course. The video is quite good and you can watch all 11 minutes of it below by[…]
Buhari 365 Part 3: The President and His Shibboleths
This is the third of a 3-part series on Buhari’s 1st year in office. The focus will be on 3 broad areas — corruption, insecurity, economy — that Buhari and the APC were elected[…]