"President Muhammadu Buhari has yet to outline the direction and goals of his economic policy. Even so, major players in the country's economy are already feeling the impact of specific policy decisions as they are emerging. For a wide segment of these critical players, the impact is negative, even grave.
Under Mr. Buhari's watch, the Central Bank of Nigeria has banned access to foreign exchange to certain categories of importers, including those who bring in toothpicks, ric...e, vegetable oil and tomato paste. The bank has also placed severe impediments on other businesses, among them manufacturers that import machinery and other goods.
The motives behind the bank's recent monetary policies may seem sound—as former Governor Peter Obi recently told reporters in Awka, the capital of Anambra State—but Nigerians appear to be worse off for them."
A Must read, brilliant piece by Okey Ndibe. What he will not say is that this bone-headed "monetary policy" is aimed squarely at small and mid level businesses - populated mostly by the Igbo. Okey is not a coward, he is a gentleman. I am neither a coward nor a gentleman, so I will say it: It is payback time and a vindictive Buhari is throwing rocks at the market place because he sees Southerners.
Buhari is asking for the war that those who voted for him wanted so badly to avoid. Well, you know what they say about those who throw stones. We will all be hit and hurt by this ancient Shylock whose only achievements in 100 days have been wrong-headed attempts at retribution. He must have very bad advisers or he does not listen to them. By his own warped logic, he should be cozying up to the South because it was Southern youths that rallied and made sure of his victory. They helped suppress votes that would have gone the other way. Now they are being punished for their industry by a vindictive old man, who has turned out also to lack integrity. What little we know of his assets shows now that he lied to us. Well, where are the vuvuzelas that serenaded him into our nightmares? SMH.
PS. This past week alone, I got calls from Igbo traders in Nigeria who are looking for people abroad who have dollars but need Naira at home. So, if you know of any such fellows, let me know. Nonsense.
- Ikhide
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