TINUBU: LET THE NAIRA BREATHE
The article discusses the current state of the Nigerian Naira, highlighting the detrimental effects of government policies on its value. It criticizes the government's approach to currency management, pointing out the disconnect between the Naira's depreciation and real economic activity.
The author argues that the current system is flawed, with excessive Naira printing and manipulation of exchange rates contributing to the currency's devaluation. The article calls for a change in strategy, suggesting measures such as stopping the overprinting of Naira, imposing penalties for illegal currency issuance, and setting limits on Naira issuance.
It also recommends a shift in the Central Bank of Nigeria's mandate towards focusing on inflation and full employment. The article emphasizes the need for fiscal discipline and a more sustainable economic approach to prevent further impoverishment of Nigerians.
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