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Tortoise folklore as metaphor of national leadership

Tortoise folklore as metaphor of national leadership

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com Regrettably, the virtue of selflessness which largely characterised public service at the dawn of Nigerian’s Independence in 1960, has since been replaced by…

Greed and the N65 atm levy

Greed and the N65 atm levy

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The financial Punch of Monday 8th September, 2014, carried a story titled “12 banks earn N1.4tn in six months”; the report explained…

Of economic contradictions and mute victims

Of economic contradictions and mute victims

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com A popular indigenous artiste cautioned in one of his lyrics that one cannot sow cocoyam and hope to harvest rice. Notwithstanding the…

The realistic path to economic prosperity

The realistic path to economic prosperity

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com Our parlous economic state has been attributed by some observers to our heavy dependence on increasing oil revenue and our inability to…

Too much talk about dollar certificates?

Too much talk about dollar certificates?

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The regular readers of “Economic Renaissance” will already be very familiar with our strident unceasing advocacy that a simple reform of our…

The strategic blunders by cbn’s monetary policy committee

The strategic blunders by cbn’s monetary policy committee

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The Federation Accounts Allocation Committee last week approved the sum of over N755bn for sharing among the three tiers of government. Ordinarily,…

Boko Haram as excuse for $1b loan

Boko Haram as excuse for $1b loan

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com There can be no denial of the threat of the Boko Haram insurgency to security, the economy of the north-eastern states, particularly,…

The darker sides of the “safe schools initiative”

The darker sides of the “safe schools initiative”

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The “Safe Schools Initiative” (SSI) is a brainchild of Gordon Brown, former UK Prime Minister who now serves as United Nations Special…

Monetary strategy: Is Emefiele our saviour?

Monetary strategy: Is Emefiele our saviour?

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com “The European Central Bank has lowered its benchmark interest rate to 0.15 per cent from 0.25 per cent in an effort to stimulate…

Will more and efficient refineries reduce fuel prices?

The increasing length of queues lately in petrol stations nationwide may suggest that the erstwhile liberal availability of petrol may be threatened.  Consequently, many car owners now inevitably patronise the…

Are workers better off in Zimbabwe than in Nigeria?

Nigerians could be forgiven, if their impulsive reaction to the above comparison is a derisive sneer because of the general perception that the Zimbabwean economy was dysfunctional.  Indeed, about five…

Futility of increasing CRR on government deposits

Futility of increasing CRR on government deposits

The Monetary Policy Committee (MPC), at its meeting last week, retained Central Bank’s benchmark interest rate at the industrially destabilising level of 12 per cent, to avert the threat of…

‘CBN defended Naira with $26.6b in 2013’: True or false?

‘CBN defended Naira with $26.6b in 2013’: True or false?

By Henry Boyo   The Punch Newspaper recently carried a report titled “CBN Defended Naira with $26.6bn in 2013.”  The report, apparently obtained from the Central Bank’s website, indicated that…

CBN’s oil receipts may expose fiscal impunity

CBN’s oil receipts may expose fiscal impunity

The Central Bank of Nigeria Governor, Lamido Sanusi, has since withdrawn his earlier allegation that the Nigerian National Petroleum Corporation failed to repatriate $49.8bn revenue from crude oil sales into…

Paper to polymer to paper currency: They still don’t get it!

Paper to polymer to paper currency: They still don’t get it!

The slap on the wrist sanction of public servants, who inadvertently or indeed, knowingly misapply public resources, has expectedly engendered increasingly similar anti-social transactions and commitments by the management of…

The blessing of oil: A peculiar mess

The blessing of oil: A peculiar mess

Our parlous economic predicament is generally regarded as a “resource curse”; a phenomenon, which the free encyclopedia defines as a paradox of plenty, in which countries with abundant revenue from…

Negative income from PHCN sale?

Negative income from PHCN sale?

Public expectation for adequate and stable power supply may have been raised when President Goodluck Jonathan handed over share certificates to the private investors in five generation (GENCOs) and 10…

Guess who is dollarising the economy?

Guess who is dollarising the economy?

Any customer of the Bureau de Change outfit may find that a difference of about N10 per dollar now exists between the official rate of N155 per dollar ex-Central Bank,…

Parable of the fool and his money…

“The other day, a friend narrated a story, which I found stranger than fiction; the story related to the travails of a family who lost a successful and illustrious breadwinner,…

Okonjo-Iweala perplexed by high interest rates

Okonjo-Iweala perplexed by high interest rates

“The first thing I have to say is that we have a central bank that is autonomous and it is the best practice to make these decisions.  We may not…

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