Monday, June 17, 2019

Magnus Onyibe

    Buhari: Leading in turbulent times

Buhari: Leading in turbulent times

President Muhammadu Buhari's face can sometimes be deadpan and inscrutable.As an ex soldier, he is supposed to be stern,so wearing a straight face that leaves no clue is not unexpected.At the inception of his administration,most things that appeared to have been unhinged during the immediate past administration, started falling into place. Electricity supply ramped up from about 3,500 mega watts [...]

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    Another opportunity to create 1m jobs

Another opportunity to create 1m jobs

These are perilous times for President Muhammadu Buhari and the 36 state governors of Nigeria.In fact some would argue that this is not a good time to be president or governor in Nigeria.Already, about twenty seven, 27 of the states are said to be so insolvent, that the governor's are unable to pay civil servants their monthly emoluments without assistance from [...]

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    The anti-corruption blow back in London

The anti-corruption blow back in London

Barely 24 hours to the celebrated Anti-Corruption Summit in London, David Cameron, British prime minister, PM and convener of the event, in a moment of indiscretion, and in the presence of the Queen of England and the Archbishop of Canterbury, verbalized his true evaluation of Nigeria, in the following damning words: "We have got some leaders of some fantastically corrupt [...]

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    Analysing the Buhari appeal

Analysing the Buhari appeal

As the old saying goes, a prophet is not recognized in his home but often times, revered outside.As President Muhammadu Buhari is increasingly being loathed at home-if social media activities are anything to go by- he is now being courted abroad.On Monday, May 9, he jetted off again to the United Kingdom for a conference on anti corruption- a subject [...]

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    Buhari, don’t kill Nigerians because of corruption

Buhari, don’t kill Nigerians because of corruption

So much has already been written about President Muhammadu Buhari's unwavering focus of energy on the war against corruption which has saved Nigeria - yet to be disclosed - huge amounts of money and won him accolades from all the right quarters, locally and internationally.Owing to his no-matter-whose-ox is gored approach to combating corruption in Nigeria -of which a new [...]

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    Donald Trump: In politics, bullsh*t works

Donald Trump: In politics, bullsh*t works

Do you remember the popular wise crack: Money Talks, Bullsh*t Works?There is no better factor to attribute Donald Trump's rise to being the presumptive presidential candidate of the Grand Old Party, GOP  in the USA,  than Bullsh*t.With a hefty $75m committed to stopping him through a barrage of scathingly negative adverts by the #NeverTrump# movement,money indeed talked.While Trump spent $9.5m [...]

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    Buhari and a harvest of Chinese loans

Buhari and a harvest of Chinese loans

Going by the number of Memoranda of Understanding, MoUs signed by Nigerian delegation, it's being reported that president Muhamadu Buhari's China trip has already yielded a plethora of harvests of projects for partnerships in Nigeria.Take the six (6) billion dollars Chinese  loan of which foreign affairs minister, Geoffrey Onyeama said Nigeria has been given a blank cheque, to draw from [...]

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    Balancing the war against corruption and economic growth

Balancing the war against corruption and economic growth

The most significant telltale of the economic melt down in Nigeria is the drop in GDP from between 5-6% annually, a couple of years ago to an all time low of 2.7%, according to the National Bureau of Statistics, NBS figures for 2015. A further downgrade to about 2.3% this year is being forecasted, particularly if there is no upswing [...]

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    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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Exchange Rates

June 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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