Tag: Henry Boyo
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African Continental Free Trade Agreement (AfCFTA): Matters Arising, By Henry Boyo
By Henry Boyo President Muhammadu Buhari’s endorsement, of the document establishing the AfCFTA, at the 17th Extraordinary Session of the Assembly of African Union Heads of government in Niamey, Niger Republic, last week, (July 2019), suggests that 53 Countries are now party to the same AfCFTA, which Nigeria, unexpectedly, refused to sign, even after 44…
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Rejoinders: Can CBN save the Naira and save Nigerians?, By Henry Boyo
Henry Boyo Public rejoinders to newspaper columns and opinions may often provide useful feedback on how well the message is understood by the reading public. Evidently, not every critic of an article will find the time or inclination to send rejoinders which may serve as a barometer for the understanding between the reading public and…
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The Wrong Way To Defend The Naira, By Henry Boyo
By Henry Boyo A report on Page 33 of the Punch Newspaper edition of June 21st 2019 has indicated that “between April 2018 and March 2019, the Central Bank of Nigeria injected over $42.3bn into the foreign exchange market to ensure liquidity in that segment of the economy.” In the same report, Isaac Okorafor, CBN’s…
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“Free-floating the Naira is disobeying the Law” – CBN, By Henry Boyo
The title above is from Tuesday, June 11th edition of the Daily Independent Newspaper. In the related report, CBN Governor, Godwin Emefiele, engaged stakeholders, at an interactive session in Lagos, on why he has rebuffed the incessant calls by some ‘experts’ to deregulate and float the Naira exchange rate, as a product of the actual…
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Like MKO Abiola, Like Sharibu, By Henry Boyo
BY HENRY BOYO The Late Chief Moshood Kashimawo Abiola, was the acclaimed, legitimate winner of the 1993 Presidential election, which was purportedly, conducted, to usher in a Democratic Administration, after Ibrahim Babangida’s eight years as Nigeria’s sole military President. Inexplicably, however, Babangida, annulled the nationally celebrated result, even though he readily admitted, in his broadcast…
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Collegiate Presidency and National Harmony, By Henry Boyo
By Henry Boyo The calls for restructuring of the national political space have become unceasing in recent years, to make the narrative below increasingly relevant, to serve as a wake-up call and abort those dire consequences which continue to jeopardize our relationship as a nation. Conversely, a positive response to the calls for restructuring will…
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Inflation: The Invincible Arch Terrorists, By Henry Boyo
BY HENRY BOYO Nigerians know too well, that sinking feeling when the standard household shopping list cannot be covered by the usual monthly budget, because of rising prices of goods/services. The options, for more households, invariably, become whether to cut down or do without some basic items, or alternatively, make do with less preferred, but…
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“How Banks Make Free Money From Govt Funds” – CBN Governor, By Henry Boyo
BY HENRY BOYO The oppressive impact of the myriad charges on the transactions of every owner of a bank account in Nigeria, was subject of discussion, in this column in recent weeks. Media reports have also suggested that these charges, may contribute trillions of Naira income for banks annually; indeed, the income from retained stamp…
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OPPRESSIVE BANK CHARGES: STAMP DUTY ‘sef dey inside’, By Henry Boyo
By Henry Boyo There is increasing public concern on the forced burden of the serial rape of tens of millions of bank customers’ accounts, with a multiplicity of charges which dove-tailed the CBN’s facilitation of the Cashless Policy and the related electronic settlement of transactions. Although E-banking may have triggered a higher velocity of cash…
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Oppressive Bank Charges: Mr. President Please Stop This Daylight Robbery, By Henry Boyo
“Regrettably, banks seem to perceive customer deposits as a burden which must be taxed, rather than the actual base on which their total lending and ultimate profitability is primarily predicated. For example, with the subsisting mandatory Cash Reserve Ratio of 22.5 per cent for banks, a customer deposit of N1000 will create at least additional…