Akin Lawanson
I wonder why the Federal Government should call the shots at the CBN, especially in aspects concerning the volume of currency in circulation. The federal government for now can never protect the interest of the naira. This is natural, because their revenue is maybe 80% dollar based.
Such an institution can never be interested in an appreciation of the naira against their own revenue-currency i e the American dollar.
If any state is well positioned to naturally defend the naira. It is the Lagos state government. A government that is earning naira revenue as over 75%. This unfortunate circumstance is affecting everyone as inflation continue skyrocketing as the federal government continue to naturally look the other way.
If only Nigeria can find a way that the government revenue will be majorly in the local currency.
This will augur well for the economy as it will keep inflation in check.
And if inflation is not checked, we will all know we are in it together.
God save Nigeria
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