Naija economicrazy!

When we thought we had seen it all with Emefiele, Nuhu Ribadu came out to announce that Naira was falling as a result of Binance,  a cryptocurrency trading platform. 

He claimed that the platform was used as a channel for money laundering.  When some executives were sent to interact with the federal government they did the unthinkable - held them hostage and charged them for money laundering.... only after requesting for a payment of 10 billion for whatever reasons but met a negative answer.

In a sane world, this action by the NSA can best be described in rap music as Thug Life.

But that's the joke these set-of individuals who should be the best of best of Nigerians have projected Nigeria and Nigerians to be. 

The same crypto currency the western worlds are beginning to incorporate in everything?

Whilst one of the victims escaped custody, the other one is currently standing trial. if the constitution is followed to the latter, I look forward to the outcome of the case.

Meanwhile, as economically bankrupt of ideas as our leaders can be, they are;

1. Using foreign reserves to peg the Naira

2. Paying subsidies in humongous amounts that even PMB government didn't pay.

Just the combination of these two is greatly depleting the Naira to an extent that by the time they have exhausted the reserves and there's nothing else to use what next will be their option.

Funny enough, the prices of fuel which rose at an astronomical projection after he claimed that 'subsidy is gone' has not reverted to the price before his infamous proclamation, neither has the exchange rate returned to the price before we heard the annoying term 'floating the Naira'

But then again.... We play too much in this country.