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Mar

BREAKING THE SILENCE - (PART 1) 14122020

2020-12-14

BREAKING THE SILENCE - PART 1

Betternaijanow.com publication in memory of Founder, Late Sir Henry Olujimi Boyo

We, all will agree that 2020 has been an eventful year. With the over-spill of boarder closures in the last quarter of 2019, the Covid-19 global pandemic, the nationwide protests against Police brutality, the weakening of the Naira and a glaring lack of political accountability amidst increased corruption, all hit Nigerians and the Nigerian economy extremely hard. 

We cannot deny the combined impact of all these circumstances on our economy. Nevertheless, many Nigerian businesses have been able to weather the storm without the support of the government, as is enjoyed in more developed nations. 

There is a need to review the cycle we currently find ourselves in and apply realistic measures to our current situation.

Despite copious amounts of publications, interviews and speeches by Late Sir Henry Boyo since 2004, providing directions and instructions about the strengthening of the Naira and growing Nigeria’s economy, we have seen the same cycle of reforms introduced and re-introduced by different governments which have all failed to protect the strength of our currency, or grow the economy in the scale required to develop the country. The Naira has continued to consistently weaken, whilst our nation grows poorer.

It is therefore clear the need to re-ignite the instructions and directions of the Late Sir Henry Boyo and keep alive his gospel truth, until it is heard, adhered to and implemented, leaving no stone unturned.

As we approach 2021, we shall pull from the archives, already published past articles of Late Sir Henry Boyo which are still relevant to our current predicament and which reveal insights that should be considered in any reasonable resolution process. They will remain accessible to all and sundry at no additional cost, on our webportal.

This article “BREAKING THE SILENCE” is inspired by the recent articles published in the Punch newspaper on the 1st of December 2020, titled “Forex Scarcity Bites Harder, CBN amends Diasporan Remittance Law” & Forex Liquidity presents Risk to Nigerian Banks; ratings-Fitch”, published on the 2nd December 2020.

CBN’s amendment to diasporan remittances may have very little or no effect in the long term to the current forex challenge and availability as further amendment may still have to be done, as a result, this may only boost electronic availability of dollars and not physical cash!

To throw more light, we refer you to Late Sir Henry Boyo’s articles titled, 
1. “$26BN DIASPORA REMITTANCES: WHERE ARE THE DOLLARS?” (A REJOINDER BY ETUBOM ANTHONY A. ANI – FORMER MINISTER OF FINANCE – 1993-1998) published on October 7, 2019

2. “CBN CLAIMS $2.6BN, NOT $26BN AS DIASPORA REMITTANCES”!! published on October 21, 2019

3. “YOYO EXCHANGE RATES AND COMMON SENSE” published on the 10th of August 2015

4. “FREE FLOATING THE NAIRA IS DISOBEYING THE LAW” published on the 17th of June 2019

Whilst there have been several commendable policies, by various government, there is clearly a need for more strategic, holistic and firm policies to strengthen our Naira and economy.

Sir Henry Boyo wanted a better Nigeria and we still want a Better Nigeria!

In memory of Late Sir Henry Olujimi Boyo by Bettenaijanow Team


SAVE THE NAIRA, SAVE NIGERIANS!!