Currency Swap
Biko Agozino
Currency swap: How not to run a country - Part 2
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Cornelius Hamelberg
Many thanks for misleading the general public that “in countries where authoritarians do not enjoy humiliating their own people”, what they do instead is let the old currencies “circulate as legal tenders along with the new designs until they circulate out into the banks for retirement.” Not totally true. Perhaps true of some but not entirely true of really progressive countries like Sweden ( Subject to ratification by Baba Kadiri, of course).
Perhaps the author or Editorial board of that Nigerian newspaper article would like to write a special epistemic proposal paper/ a pious trailblazing academic paper either on how to decolonize the art and science of changing a postcolonial nation’s way of thinking about setting up reasonable timeframes and deadlines for the complete change over from the old currency to the new currency to be completed successfully, inflicting as little pain as possible on the hapless citizens and the business community,, preferably, inflicting no pain at all on poor citizens.(The rich citizens don’t feel any pain, perhaps because they usually guard their enormous amounts of money more fiercely, sometimes with tanks, and machine guns, weapons of mass destruction, and even nuclear bombs if need be)
Did you hear what Ms Amina J Mohammed said about developing countries' access to finance ( loans) and the problem of debt-servicing when she delivered The Dag Hammarskjold Lecture 2022 , whereas the already rich counties can borrow at 1% interest rates ( sounds a bit low) the struggling nations are charged between 8 to 9 % riba?
The state of Nigeria’s economy is one of the issues that could have been covered in a presidential debate which we are to assume that e.g. Alhaji Atiku would not have been looking forward to without great trepidation since the other two ( Tinubu and Obi and of course Rabiu Kwankwaso would have hammered him mercilessly on some of the economic issues and above all, how would he ( Alhaji Ariku) have defended himself for saying that the date for exchanging the old naira should not be extended beyond 10th of February - thus making it abundantly clear that he is not the poor man’s friend, but on the contrary a bona fide enemy of the long-suffering people...
https://www.youtube.com/user/flamencoguitarsale
Harrow, Kenneth
kenneth harrow
professor emeritus
dept of english
michigan state university
Sent: Thursday, February 23, 2023 3:23 PM
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Subject: USA Africa Dialogue Series - Re: Currency Swap
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Biko Agozino
Biko Agozino
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Cornelius Hamelberg
You should reserve the question about so-called “right-wing nutters" for Baba Kadiri. He has a more panoramic view of such realities. Or you could ask Professor Porter with whom you have two things in common, (1) Cambridge and to a much greater extent, (2) a special aversion for so-called “right-wing nutters” as evidenced plentifully here.
I’m glad and rejoice to note that my fellow countryman thinks very highly of our Sweden . Not bad for an Englishman. However I doubt that he’s ever going to take the step that Anthony Swerling took, to have the temerity to declare Strindberg “ greater than Shakespeare” as Anthony did, but there again, I still believe that he was merely cozying up to the Swedes
I have quite a collection of old Egyptian pound notes, and diverse other currencies from the US and the Bank of Scotland, which hopefully if no longer valid legal tender must have a greater value than their face value, a long time ago
Normally, one would think that the 93.4million Nigerians that are eligible to vote on Saturday would have liked to have heard the presidential candidates tell us just a little about how they intend to deal with these issues that ought to be at the top of the agenda: The state of Nigeria’s economy, the extent of the national debt and how it’s supposed to be serviced so that they would then be in a better position to know what they're voting for.
But, sadly, it looks like, in 2023, Nigeria is not the kind of country where presidential candidates and political wannabe messiahs don’t want to debate in front of everybody, whether in Big or little English. At the same time, one after the other, these same people can put on their best behaviour when they trot over to Chatham House to tell the folks over there about all the good things that they intend to do for their people and their country, if elected President, but the same wannabes are reluctant to debate their agendas on national television, in Nigeria's official language ( English) or pidgin English which more people understand, or any of the other major languages such as Hausa, Yoruba, Igbo, varieties of Ijaw, Fulani, etc
If I were privileged to be the moderator of any such debate, I would first ask the candidates to comment on this line that occurs in Matthew 13:12, that
“For to everyone who has, more will be given, and he will have abundance; but from him who does not have, even what he has will be taken away.”
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Oluwatoyin Adepoju
Secondly, Nigeria on one side and the UK and France, on the other side, do not exist in the same economic and social universe. They only exist on the same planet.
The level of development in science already reached in the UK by the 17th century and in technology by the 19th century has not been reached in Nigeria and the level of general development reached in both countries by the 20th century has not been reached in Nigeria.
I dont like the term Third World, but its an accurate term. Nigeria is centuries behind those they are being equated qith in terms of currency policy.
Equating Nigeria and those other countries, without qualification, is deeply disturbing for me, at a visceral level.
Toyin
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