Thursday, September 13, 2018

Magnus Onyibe

    How Buhari can put Nigerian economy back on track

How Buhari can put Nigerian economy back on track

It is human nature to choose the least option of resistance when faced with tough decisions.That perhaps explains why govt's reaction to current foreign exchange squeeze, arising from recent drastic drops in international oil price-Nigeria earns approximately 90% of foreign exchange, fx - is to ban allocation of fx for purchase of some items considered not essential.The barring of 41 [...]

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    Mr. President, don’t ban FX for overseas school fees

Mr. President, don’t ban FX for overseas school fees

With the sort of gloom and doom now pervading the sociopolitical atmosphere in Nigeria, due to the ongoing financial crisis, humor seems to be the best antidote for easing the stress.That's why I could not resist starting this article with a practical joke which a friend recently sent to me via whatsapp and it goes thus " President Buhari was [...]

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    Naira devaluation: Nigeria’s peculiar mess

Naira devaluation: Nigeria’s peculiar mess

With the integration of international credit card services like MasterCard, Visa card, American Express card etc into Nigerian financial/banking system a few years ago, Nigerian consumers became a major part of the burgeoning army of consumers of goods and services across the universe who can shop from the comfort of their homes.Such magnitude of global trade is enhanced by the [...]

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    Bukola Saraki: Time to shine or melt

Bukola Saraki: Time to shine or melt

The firestorm generated by the Code of Conduct (CCT) arraignment of senate president, Bukola Saraki, over alleged false declaration of his assets when he was governor of Kwara state has taken the dimension of political witch hunting. At least, that's the view of his numerous supporters, especially fellow senators who came to that conclusion after the recent supreme court denial [...]

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    2016 budget and civil servants as mafia

2016 budget and civil servants as mafia

As a push back to critics of president Muhamadu Buhari's delay in constituting a cabinet about four months into his administration, mr president reportedly retorted that ministers are 'noise makers' and the job of running the bureaucracy is actually carried out by civil servants, so why the hurry?In deed , the delay in forming the cabinet was essentially because president [...]

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    Election 2015: Justice lost and found

Election 2015: Justice lost and found

Since Nigeria's return to multi party democracy in 1999, the murkiness of the world of the judiciary has been so pervasive that the views of the average Nigerian about the jurisprudence behind most of the court verdicts reversing or upholding election into public offices had become so jaundiced that the legitimacy of most of the elected political office holders is [...]

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    Lai Mohammed: To inform or inflame?

Lai Mohammed: To inform or inflame?

Arguably one of the most effective opposition party spokesmen in Nigeria is Lai Mohammed, now our minister of information and culture.While his party, the APC that was formerly in opposition won the presidency on March 28th, last year and thus changed into the ruling party, Mohammed seems not to have changed his communication strategy to reflect the new change in the [...]

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    Buhari: Accepting the past, facing the future

Buhari: Accepting the past, facing the future

Christine Lagarde, the Managing Director of the IMF, is in Nigeria. The last time the global financial intervention agency, IMF beamed its gaze on Nigeria (1985-6), was to convince govt to embark on financial reforms including devaluation of the naira.I have heard many commentators lament that Nigeria's economy is in dire straits similar to the situation in the mid 1980s compelling [...]

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    Are elections giving democracy bad name In Nigeria?

Are elections giving democracy bad name In Nigeria?

For starters, I would like to attribute the title of this article in part to Kofi Annan, former United Nations, UN Secretary General whose recent speech to the Commonwealth was titled "Are Elections Giving Democracy Bad Name?"Given the unprecedentedly spate of violence in the 2015 general election that ushered change of rulership to opposition political party in Nigeria and the brigandage [...]

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    PDP and the burden of Jonathan’s presidency

PDP and the burden of Jonathan’s presidency

DAAR communications chairman, Raymond Dokpesi, who is one of the major conveners of the South-South political movement that bolstered and galvanized the emergence of the region that produces the most wealth in Nigeria into national reckoning, recently allegedly voiced the opinion that PDP made a mistake in fielding Goodluck Ebele Jonathan, GEJ, as her presidential candidate in the last election.When [...]

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Exchange Rates

September 12, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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