The Child

The child was not born from love and joy, It instead came about from the lure of greed and lust. The child was reared by its parents like cattle to be slaughtered, Its remains were meant to be pillaged and devoured. A monstrosity upon its arrival, The child had a thousand faces, each to the other a rival. At last the child escaped the clutches of its father, But with squabbling amongst its different faces, it could move no further. Aimlessly the child still wanders, Its father moving stealthy in its shadow, looking to plunder. “Perhaps if we separate its heads, the child will become calm and quiet”, But the thought of the blood that will be spilt makes this thought difficult for its mother ...

More

Nigeria's Savings Bond; Stated Objectives Vis-A-Vis Performance Thus Far...

The Nigerian savings bonds which was introduced into the economy earlier in the year recently just concluded its second auction offering to the public with results of the bond auction about to be released. What exactly is a savings bond? Wikipedia describes U.S.savings bonds as “debt securities issued by the U.S. Department of the Treasury to help pay for the U.S. government’s borrowing needs. U.S. savings bonds are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government”. Going further, the savings bonds are hybrid instruments which try to singlehandedly cater to the financial needs of various segments of the economy simultaneously. Taking the basic...

More

The Nigerian Economy, Currency Controls, Arbitrage & Recession; What Can Be Done

“Top tip when travelling to Abuja and staying at the Hilton. Hilton room rate is ~$300 or NGN 95,000 at official spot (which is what the hotel uses). When arriving at the hotel, simply go to Humaira BDC on the first floor of the hotel lobby, where you can exchange your USD at the cash/parallel rate of NGN 490(what I got last week). Then pay the hotel in Naira – 95,000 or $194, a savings of 35%!”. The extract above was directly culled from the LinkedIn post of a South African business analyst, citing his recent travel experience to Nigeria. This is indicative of the ineffectiveness of the Nigerian Government’s attempts to control and regulate the value of its currency. In a bid to “protect the value of the Nair...

More



Cancel
Cancel
Cancel