I am charlz sage,i love meeting people that knows their worth and have respect for others.Less I forget I love music and radio.Be prepared for opportunities.
He's fast becoming my favourite economic analyst.
Here, he explained how in 8 years, Buhari printed N23 Trillion in Cash (also known as Ways and Means), most of which the corrupt politicians eventually looted to "buy" USD leading to the Naira Crash plus inflation.
That's average of N240BN monthly from W&M alone, chasing to convert to the USD. The crash under Bubu was inevitable.
This is exactly why Nigeria needs a president with more commonsense and greater financial discipline at this time. Not the one that'd bury the already destroyed NAIRA.
And certainly not this one that has already printed & blown away, a further N7.3 Trillion in 7 months (or N912BN monthly) to finance consumption, multiply corruption, buy luxuries & keep the politicians on a leash (e.g. prayers via emails).
So, the CBN's interventionist policies would only give a very temporary reprieve cos I do not expect the right changes to be made. N2,000/$1 may be not far. 💔🇳🇬
Okay, let me explain this to a 10yr old.
If you want to wash your face, you don’t put soap and then start looking for water. You first keep a water reserve and then you wash your face, knowing you have enough water. If your landlord pre-sells water to his tenants, it means…1