NAIRA VALUE: TENDER YOUR LETTER OF RESIGNATION IMMEDIATELY, -DAVID ADENEKAN SLAMS CBN GOVERNOR
#Ìròyìn Òmìnira
28th September, 2021
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The Best Economic Analysis In This Sad Scenario: A Rejoinder To Temporary Suspension To Rate Publication - AbokiFix, By David Adenekan.
The simple fact, is that, the exchange rate is determined by the forces of demand and supply. It is a simple economic theory.
No amount of change in monetary policy or fiscal policy can permanently determine the real value of a currency. In other words, using monetary or fiscal policies to fix the value of a national currency is a temporary solution that will not stand the test of time.
Frankly speaking, and without mincing words, it is the forces of demand and supply in a market economy that determines the real value of a currency via a vis exchange rate. This is not rocket science but simple economic theory.
Suffice it to say that, with the kind of mediocre knowledge displayed by the governor of central bank, Naira is in a free fall.
Emefiele,the governor of central bank has demonstrated the act of incompetence in handling the value of naira and should tender his letter of resignation immediately for a better manager to run the Central Bank of Nigeria.
However, the problem, is that, he is a willing tool in the hands of the cabal in Buhari administration and, the probability of him resigning is very low.
Yes, "you cannot bite the hand that feeds you".
What a sorry situation and
a failed country!
Lobatan!
Only time will tell!
David Adenekan writes from Chicago, Illinois.
davidadenekan5**********.
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- 28 Sep, 2021
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