Above the law

It appears some people are really above the law. The can’t be arrested for corruption, can’t be arrested for taking a none performing loan (is that really a criminal offense?) and their property can’t even be touched in the event they took a none performing loan. I guess the laws are different for everybody. Ex-Gov… Continue reading Above the law

Print more Naira? Really?

The Governor of the Central Bank, Mr Lamido, recently announced plan to print more money if needed to help “save more ailing banks”. This echoes similar ideas that were proposed by certain members of the public during the now infamous naira crash early this year. Printing money is however always a bad idea. This is because printing money does nothing but increase the inflation rate and inflation is really really difficult to get under control. The number one role of the Central Bank is to ensure price stability which is typically defined as an inflation rate of around 2%. Its currently 11%. This idea of printing money combined with the recent big cut in the monetary policy rate is sure to raise inflation to new highs