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Naira/Dollar atm cards and inexplicable profligacy

Naira/Dollar atm cards and inexplicable profligacy

LES 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com One cannot be certain whether Nigerians should celebrate or decry the recent Central Bank of Nigeria’s decision to reduce the existing annual limit on…

Buhari and the economy: which way forward?

Buhari and the economy: which way forward?

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com Expectedly, goodwill messages have deservedly, poured in from far and wide to congratulate the clear victor of the 2015 elections, and President Elect,…

Guess who is dollarising the economy!

Guess who is dollarising the economy!

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com “….The committee observed that its previous decisions needed time for their effects to fully permeate the economy and therefore “all eleven members unanimously”…

Will PDP or APC rescue the economy?

Will PDP or APC rescue the economy?

The 2015 election is barely two weeks away and yet, not even close followers of events in the political space can satisfactorily articulate distinctive differences in the ideology of the…

The tragedy of errors in the fuel market

The tragedy of errors in the fuel market

Les Leba 08052201997, lesleba@gmail.com, lesleba@swiftng.com,  lesleba@lesleba.com,   www.lesleba.com Curiously, in an attempt to align with public sentiment, in an election year, government was stampeded by popular demand to concede and…

Planning to fail with budget 2015

Planning to fail with budget 2015

LES LEBA 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com Over the years, both the Legislative and the Executive arms of government have consistently demonstrated their faith in the popular axiom that “he…

Where is the $7bn cbn loan to 14 banks?

Where is the $7bn cbn loan to 14 banks?

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com “The report of the 14 Nigerian banks which were appointed as Asset Managers of Nigeria’s reserves was carried on the back page of…

Economic mismanagement in retrospect

Economic mismanagement in retrospect

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com What you are about to read is a true account of the gross impunity that has largely characterised decision making on those matters…

Soludo vs Iweala: Between the pot and the kettle

Soludo vs Iweala: Between the pot and the kettle

  LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The co-ordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala has promptly responded to a recently published article titled “BUHARI VS JONATHAN –…

T/bills: Who will stop this looting spree?

T/bills: Who will stop this looting spree?

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The contradictions in our failed economy are probably best captured by the stark reality of deepening poverty and unbridled rate of unemployment despite…

Is diversification of the economy possible?

Is diversification of the economy possible?

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com In the wake of public concerns on the impact of the tumbling prices of oil on government revenue and expenditure in the 2015…

What is the dollar exchange rate?

What is the dollar exchange rate?

LES LEBA, 08052201997, lesleba@gmail.com, lesleba@swiftng.com, lesleba@lesleba.com,   www.lesleba.com The CBN recently restricted direct sales of its official dollar reserves to some sectors of the economy; consequently, the importation of electronics, information…

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?

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?

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…

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