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One currency for Africa is one of the easier ways out of poverty for the large continent.
The other way out of poverty is energy, especially nuclear energy.
Three currencies for the large nation will encourage competition for the member nation and will ease the boundary laws which are obstacles for the African Union.
Nigeria Naira is selling way under par and will not make it even if CBN clear every excess Naira in the market. The real time market rate of the Naira is about N250 to a dollar. With $2billion monthly cover for Nigerian market, the Naira should claw between N201 and N191 by end of May, 2019.
We are still N361 for every dollar and higher rate for the pounds whereas the rate is up from Q1'19 and trade way ahead of market rate.
Move the Naira to N201 for May 20, N191 for May 30th, 2019, try a government expansion with note on service jobs and minor on defense contract. This will enable Naira consumption necessary to hold the rate at N201. It will arm JID with enough pay rate for working Nigerians and those with permanent money.
CBN cannot remove the current rate at N361 given the priced-in expectation that the Naira will shed against foreign capacitor. If the General can use the argument that Naira is ahead of the curve, he will use the rate at N201 until May 2019.
(S.O
One currency for Africa is one of the easier ways out of poverty for the large continent.
The other way out of poverty is energy, especially nuclear energy.
Three currencies for the large nation will encourage competition for the member nation and will ease the boundary laws which are obstacles for the African Union.
Nigeria Naira is selling way under par and will not make it even if CBN clear every excess Naira in the market. The real time market rate of the Naira is about N250 to a dollar. With $2billion monthly cover for Nigerian market, the Naira should claw between N201 and N191 by end of May, 2019.
We are still N361 for every dollar and higher rate for the pounds whereas the rate is up from Q1'19 and trade way ahead of market rate.
Move the Naira to N201 for May 20, N191 for May 30th, 2019, try a government expansion with note on service jobs and minor on defense contract. This will enable Naira consumption necessary to hold the rate at N201. It will arm JID with enough pay rate for working Nigerians and those with permanent money.
CBN cannot remove the current rate at N361 given the priced-in expectation that the Naira will shed against foreign capacitor. If the General can use the argument that Naira is ahead of the curve, he will use the rate at N201 until May 2019.
(S.O
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