Who Raped the Naira?

WHO RAPED NAIRA?

    

The last time I checked, the Nigeria’s currency, Naira suffered a seemingly unpredicted rape though the identity of the rapist in question was significantly unknown. This critique was informed by the compelling need for every Nigerian to comprehend fully the overall nomenclature of the masked rapist.

    Currently, the worth of naira per a US dollar is almost #400 in the parallel market as against its official exchange of #198. Though it isn’t only Nigeria that is confronting the US dollar that is presently ravaging her once respected currency, naira and local economy – some other countries are obviously passing through similar fate, but it’s pertinent to acknowledge that the ongoing misfortune of the said currency didn’t abruptly emerge; suffice it to say that the above mentioned ‘rape’ was apparently a foreseen circumstance.

     Going down the memory lane, it would be recalled that from 1972 to 1985, the official worth of naira per a US dollar was between #0.66 and #0.89 involving a consistent slight fall and rise. From 1986 to 1992, it was worth between #2.02 and #9.91 involving a steady fall. Subsequently, from 1993 to 1999, its worth was between #17.30 and #21.89 involving an onward apparent constant exchange rate after an initial decrease. Similarly, from 2000 to 2009, it was between #85.98 and #145, which involved an outrageous continuous fall.

   
Then, recently from 2010 to 2015, we witnessed a steady fall from #150 to #171. And presently, barely from last year till date, it has declined to #198 per a US dollar, witnessing a free fall. The bone of contention is that ab initio, excluding the initial point when it was ostensibly steady, there has been a continuous fall of the value of naira when compared to the US dollar.

    
Hence, having painstakingly perused the above comprehensive chart, I have succeeded in disabusing us of the notion that the fall of the exchange rate of naira either at the official market or parallel market commenced in recent time. Needless to say that naira had suffered an untold hardship from genesis till this moment.

     But if you take a closer glance at the above analysis, you would observe that it was during the democratic era that the naira’s value fell outrageously, although the origin of its downward depreciation could be traceable to 1986 or thereabouts. In view of this assertion, one may be challenged to ascertain the reason for such anomaly.

     The answer is simple. Any democratic leadership, compared to military regime, is usually synonymous with loose principles or policies. This implies that the former often ends up overlooking the invariable nonchalant or lackadaisical attitudes of its citizenry which is definitely not a wholesome practice in any society that intends to grow economically. Most times, sustaining a certain policy requires a nonhuman face.

     Looking beyond the history, currently it’s obvious that the value of the Nigeria’s currency, naira is diminishing on a daily basis as if it’s being relentlessly and endlessly pursued by a hidden monster. The ongoing phenomenon unarguably is categorically not unconnected to the recent stiff measures taken by the nation’s apex bank – the Central Bank of Nigeria (CBN).

    
It’s no longer news that penultimate year, foreign exchange for importation of various commodities into the country was banned by the said bank. This severe approach warranted people particularly importers to divert their attention to only the various illicit Bureaux De Change (BDCs) situated across the nation. Consequently, the CBN ordered the closure of all the existing branches of the BDCs in Nigeria, and thereafter stated that it could not continue selling foreign currencies directly to them (the BDCs).

    
Owing to the above sanctions, the various seekers of foreign exchange have shifted their entire attention to the parallel market thereby causing an alarming increase of the demand for forex at the market. This is no doubt the sole reason a US dollar is being unofficially sold at almost #400.

    
However, the question remains: who raped Naira? Unequivocally, naira was dastardly raped by some unscrupulous elements in Nigeria as a result of their selfish interests. This signifies that the present pitiable physiognomy of naira was occasioned by the fact that she was gang raped. One of the rapists is the inability of Nigeria to export a finished product to other nations, not even the oil and gas which are in abundance in the country. How can a country be importing a product that is being generated from its land? Doesn’t it sound ridiculous? Undoubtedly, the relative steady rate of the foreign exchange in Nigeria during the early years such as between `72 and `85 or thereabouts might not be unconnected to the obvious fact that the various Nigeria’s refineries - in Port-Harcourt, Warri and Kaduna, were functional during the said era.

     It doesn’t end at the fact that we are importing virtually everything including toothpick, our education and health sectors are also fundamental plights to our forex. It’s obvious that due to inadequacy in spite of the uncountable number of tertiary institutions situated across the federation, millions of our children are currently studying abroad even in such educationally less-privileged countries as Kenya and Niger Republic thereby warranting the export of billions of naira on a daily basis. Same nauseous practice is applicable to the health sector; none of our prominent citizens receives medical treatment in Nigeria, especially in issues relating to surgery. Every pregnant Nigerian woman wishes to deliver her unborn baby in the US.

    
Inter alia, the country’s science sector that was relatively alive and viable had abruptly become soared. All the country’s technical colleges are currently moribund thereby posing a deterrent to our teeming young ones in regard to production of scientific gadgets contrary to what was formerly witnessed among them. In the same vein, none of the government owned industries is functional at the moment. Frankly, everything has completely gone wrong, thus requires a total turnaround.

     The demand for foreign currencies, in particular dollar which remains a global commercial currency, is presently astronomically high in Nigeria as a result of the fact that virtually nothing is seemingly happening in the country; Nigerians want to get everything done outside Nigeria or by foreigners. Almost every contract is being awarded to foreign firms as if ours aren’t equal to the tasks. An average Nigerian would prefer embarking on a trip to England for a football match between Chelsea FC and Manchester United FC to travelling to Owerri for a match between Heartland FC and Enyimba FC. A two-day relaxation period or a honeymoon would be spent abroad as if our hotels are mere hatches. In a nutshell, we are currently enjoying foreign services in all our day-to-day activities. This is why the country is being hit by soaring inflation. Without mincing words, our past leaders assisted in raping naira because they had the immunity to address all these anomalies but they never cared.

     To restore normalcy, first we need to start by believing in ourselves which would enable us to at all times encourage our locally made products as well as our indigenous services. In other words the ban on forex against most goods and services ought to be strengthened headlong; this implies that our various borders need to be holistically checkmated at all cost. In the same spirit, the ban needs to be extended to other activities to include travelling abroad for trivial issues.  Similarly, all the illicit forex dealers must be captured and thereafter brought to book without much ado; the saboteurs don’t deserve any mercy. Hence, the Money Laundering bill that was recently sent to the National Assembly by the Presidency must be considered seriously.

      Most importantly, we must revive such most of our essential sectors as the aforementioned ones. In addition, the power sector ought not to be left out; it’s imperative to note that several countries not unlike the USA that can’t invariably boast of up to 15 degree Celsius are currently sourcing their electricity from the solar energy let alone a country like ours that constantly boasts 40 degree Celsius that lasts for a long period of time. Indeed, this proposed measure is meant to be handled with an utmost political will.

    
Surely, devaluing naira as being agitated in some quarters isn’t the required avenue towards bringing the group of monstrous rapists that are on the run to book. Hence, we needn’t a soothsayer to notify us that we’re expected to drastically do the needful to return naira to her initial resplendent countenance that has suffered a colossal rape. Think about it.  

Comr Fred Doc Nwaozor

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Photos of #TheMediaAmbassador

Aftermath of Fr Mbaka's Transfer

FR MBAKA’S TRANSFER AND THE POLITICS THEREAFTER

    

The last time I checked, the Enugu-based controversial Catholic Priest in the person of Rev Fr Ejike Mbaka who doubles as the Spiritual Director of the Adoration Ministry, Enugu had been transferred from his parish, Christ the King Catholic Church (C.K.C), GRA, Enugu metropolis in which he had spent over a decade to Our Lady of the Rosary Parish, Emene, Enugu State – a suburb of Enugu metropolis where the former is situated. 

    

It’s pertinent to note that fathomless public criticisms had greeted the aforesaid action. In some quarters, people are of the view that the decision to transfer the Priest was aimed at checkmating his activities which are apparently generating unpleasant wave within the body of Christ and the country at large. In their further reactions, they insinuated categorically that the Church’s plan to transfer all the priests in Enugu Diocese was to dilute any suspicion.

    

The All Progressives Congress (APC) had alleged that the Bishop of Enugu Diocese, Bishop Callistus Onaga was manipulated by external forces into effecting Fr Mbaka’s transfer. In their official briefing via their South-East caucus’ Spokesperson Mr Osita Okechikwu, they stated unequivocally that “As a party, we have watched with concern and trepidation the criticism, the attack, assault, and unpleasant comments hurled against Fr Mbaka since he providentially prophesized that President Buhari would win the 2015 elections” among other issues raised therein.

    

The Catholic Church on its part had clarified the transfer of the clergyman, saying that the controversial Priest was merely being sent to where he would be more useful to the church which wasn’t an unusual exercise. It further claimed that the posting, which was strictly in line with the church’s tradition, was not meant to be punitive or to witch-hunt the Priest in question as being speculated by the public.

     

It would be recalled that earlier in the year 2014, the Catholic Priest Fr Ejike Mbaka had prophesized that President Mohammadu Buhari would emerge victorious in the 2015 Presidential election, and fortunately or unfortunately his prophesy came to past. Hence, the various speculations regarding his recent transfer might not be unconnected to the aforementioned assertion.

    

In view of these altercations or brouhahas, I was tempted to enquire which political party Fr Mbaka belongs to. And at this moment, I’m still fascinated to know which party’s membership card could be found in his robe’s pocket; an inquiry that is dying for a candid answer.

    

Frankly, in recent times, the manner in which people try to link religion to politics is really becoming unbearable, thus requires a compelling attention. People need to understand that politics and religion, both which are no doubt essential and veritable tools in any society, are not unlike two parallel lines therefore have no meeting point.

      

In one of the works I did previously entitled “Taking worship beyond politics” as was published on the back cover page of the New Telegraph Newspaper penultimate year, specifically on Monday 6^th of April 2015, I wholly made it clear that the church is an institution specially meant for the liberation of mankind from all forms of bondage, to strengthen or uplift their faith, as well as to bring them nearer to their salvation, and not otherwise as most Nigerians see it.

     

In a similar spirit, in a piece I wrote entitled “Letter to the Pope” as was published in the Daily Times Newspaper on Wednesday 3^rd February 2016, having disclosed that religious bodies were to work towards actualizing good governance and not to take part in politics, I stated that if an institution like the church that’s widely regarded as ‘opium of the people’ was being abused or misused, it signified that the society was liable to encounter unimaginable comatose circumstance.

     

Personally, I don’t see anything wrong with a man of God prophesying about an unforeseen or a future situation; such practice is undoubtedly as old as the world, if not older. The angle I’m against is playing politics with such spiritual act; hence, people must be guided in this aspect before they attract curses upon themselves, or even on their generations yet unborn.

    

In view of this, let the politicians play their politics and allow the church to do its work. Most times the derailment witnessed on the part of the clergymen is attributable to the activity of some so called politicians; for crying out loud, let’s allow them concentrate on their callings. Rather than distracting them, what we are expected to do is nothing but to pray for them because they are unarguably in a seemingly hot zone.

    

Even if Fr Mbaka’s transfer was targeted to punish him, let’s not absorb it as an action that was politically motivated; rather, ought to be seen as a consequential step or something that was called for in the priesthood. We must take into cognizance that the church, particularly the Catholic dominion, has its unique method of handling issues.

   

Thus, instead of raising cloud of dusts as regards the exercise that seemed abrupt, all we need to do for the affected Priest if we truly care for him is to pray vehemently for his person. The priest had already stated that he alongside his ministry was going to ‘suffer’, so let’s not aggravate the anticipated suffering. Think about it!

 

Comr Fred Doc Nwaozor
Follow: @mediambassador