Tag: Henry Boyo
-
The wrong way to defend Naira, By Henry Boyo
By Henry Boyo The Central Bank of Nigeria has injected over $10.97bn, into the Forex Market between January and October this year, to defend the Nation’s currency, the Naira, against other major currencies, including the dollar.” (Punch Newspaper report of November 18th 2018 titled “CBN Defended Naira with $11bn in 10 months”). The Punch report,…
-
Money, Money Everywhere & Yet More Debt, By Henry Boyo
By Henry Boyo The IMF Country Chief, Amine Mati, who spoke last Thursday (November 8, in Abuja, at the presentation of the Regional Outlook for Sub-Saharan Africa, 2018), was clearly concerned that, despite Nigeria’s very precarious 1.9 percent projected growth rate for 2018, and a debt to GDP ratio between 20-25 percent, Nigeria however, is…
-
Labour & Wage Increases: Barking up the Wrong Tree!, By Henry Boyo
By Henry Boyo President Buhari established a Tripartite Committee in Dec. 2017 – comprising Labour Leaders, Federal and State Government representatives, to consider and recommend an appropriate increase on the present N18,000/month, National Minimum Wage, which became effective from 2011. Ultimately, however, by Oct. 2018, after protracted negotiations, over several months, there is still no…
-
Skye Bank: Lucky Depositors, Disgruntled Investors and Beguiled Public, By Henry Boyo
By Henry Boyo The business license of erstwhile Skye Bank Plc was summarily revoked last month (September 2018) by Godwin Emefiele, the CBN Governor. The revocation came about two years after the financial Regulator sacked the Management in July 2016; the action followed the bank’s inability to meet the mandatory minimum key liquidity and capital…
-
Pyrrhic Victory of any rise in Minimum Wage, By Henry Boyo
President Mohammed Buhari, inaugurated a 30 member tripartite Committee on Monday 27th November 2017, to negotiate a new National minimum wage. The Committee comprises six serving State Governors and other members from both the public and private sectors, as well as leaders of organized labour. The President conceded, on that occasion, that the current (N18,000)…
-
Collegiate Presidency and National Harmony, By Henry Boyo
By Henry Boyo The calls for restructuring of the national space have become unceasing in recent years. Therefore, the narrative below has certainly become increasingly relevant this year and may hopefully serve as a wake-up call to abort dire inevitable consequences which will clearly jeopardize our relationship as a nation and forestall the inevitable frustration…
-
2018 Budget: Inherent Mischief and Financial Recklessness, By Henry Boyo
By Henry Boyo BY HENRY BOYO The Deputy Speaker of the House of Representatives, Yusuff Lasun, disclosed, at a Press briefing, last week, that the National Assembly, would interrupt its annual recess and reconvene, sometime, this week, to consider President Buhari’s expenditure proposal for N242bn to conduct 2019 General Elections. It is unclear, why…
-
Shoprite as metaphor for AfCFTA, By Henry Boyo
By Henry Boyo The South Africa President, Cyril Ramaphosa, was in Abuja earlier, this month (July 2018), to participate in the 25th anniversary and annual General meeting of the African Export Import Bank (Afreximbank). Ramaphosa, used the opportunity to call on Nigeria, not to delay signing the agreement for the African Continental Free Trade…
-
The Nigerien Connection, By Henry Boyo
By Henry Boyo In September last year (2017), President Muhammed Buhari received his Nigerien counterpart Mahamadou Issoufou in Daura, Katsina State; Issoufou had reportedly visited, to ask after PMB’s health and also congratulate him on Nigeria’s exit from recession; the discussion, apparently also included “the fight against Boko Haram, the economic challenges in the Lake…
-
Abacha’s repatriated loot: Matters Arising, By Henry Boyo
By Henry Boyo The actual amount stolen from Nigeria’s Treasury between 1993-8, by former Military Dictator, Sanni Abacha, may never be known. Nonetheless, Amnesty International, for example, has suggested, that over $5bn of Abacha loot had been identified, even when speculations still persist that the audacious ‘shop lift’, by Abacha, and his associates, is probably…