The Central Bank of Nigeria (CBN) as a monetary tool in Nigeria, is a bank where the tycoons and goons save what they loot and export it offshore which I have written about countless of times and still no one is listening to what I have to say.

The Government in Nigeria at all levels are siphoned and wallowing in corruption and there is no proper check-in with all the anti-financial crimes institutions which the superpowers that steal what is left in the treasury box control and they only arrest only the people that are less privileged not to have anyone in power.

The CBN Governor, Mr Godwin Emefiele’s excessive monetary policy of misdirection is what no one can actually comprehend because of the shenanigans attached to it and to curb the illicit activities of money launderers. The fear of the unknown is that the launderers are scared to dole out what they have stolen what is meant for the masses and hidden for long.

So, the current policy of the CBN instructing the masses to exchange their old currency for the new one is taking a bigger toll on the influential in the society. Godwin Emefiele’s action at CBN is an unusual and a bit apolitical because of the timing which does not augur well with a lot of people, especially in the rural areas of the country.

The needful should be done when there is proper stability with the monetary policy set out by CBN in the year 2022 requires deep sensitization of the public. The current hardship inflicted on innocent Nigerians has slipped into historical books because it has never been this bad. All because of the new monetary policy; the naira now sells against the naira, it is no longer naira to foreign currency. For example; if you pay N1,000,000, you get the new redesigned naira of N700,000.

This is the common corruption in Nigeria displayed in an unusual form and has eaten up even sectors we never believed would be hardLutoday, specifically the banking sector through which Nigerians make life hard for other Nigerians with the level of wickedness portrayed by most Bank Managers and wicked MD/CEOs making the cash unavailable in an already hard country as Nigeria. Corruption will never end in Africa because we lack the structure to always do it right. Emefiele, the CBN Governor, is not a genius he always thinks he is because he could have approached or attacked the economy in a more simplified way that should have been holistic without inflicting more hardship on the already afflicted Nigerians.

•Mike-Nifty A.A is a multidimensional Public Affairs Analyst and a lover of Christ. WhatsApp/Email respectively +234 7040659397, nifty.mics@yahoo.com

Update news