National

By Uzair Adam Imam

Former Jigawa State Governor and PDP Chieftain, Sule Lamido, has criticized Northern governors for their recent visit to the United States, stating that it showcased their lack of understanding of the Nigerian Constitution.

Lamido voiced his concerns via a statement on his official Facebook page on Sunday. The governors had traveled to the US to participate in a peace summit organized by the United States Institute of Peace (USIP).

Lamido said, “Our Northern governors as concerned leaders traveled all the way to the United States of America to attend a lecture at the American Institute for Peace titled “ADVANCING STABILITY IN NORTHERN NIGERIA”, as to find a lasting solution to the intractable problems of insecurity bedeviling their respective states.

“Their concern, commendable as it were, ended up exposing their ignorance at understanding the Constitution of the Federal Republic of Nigeria, the very instrument which gave them the legitimacy and the authority to be Governors.

“If the Governors had traveled to the US to engage on how to boost agriculture or health issues or any other pressing local problems listed on the Concurrent List of our Constitution, this could be quite understandable.

“But to engage on issues which are on the Exclusive Legislative List such as security says a lot about the substance they are made of.

“Security is a very wide subject which their Excellencies must have capacity to grasp. Most urban towns in their states lack portable drinking water, and refuse dumps have taken over some streets.

“Our children attend primary schools under the trees and where there are classes, they take their lessons sitting on the floor, yet the security implications of this cannot be discerned by their Excellencies.

“Deliberate and harshly induced poverty by unplanned government policies have made citizens lose their esteem, honour and self worth by lining up scrambling to collect palliatives from patronizing and condescending leaders yet the Insecurity of this is of no worry or concern to them.

“You have governors with no human empathy or respect for dignity or decency in an open show of shame throwing money like confetti from an open Jeep and people scrambling to pick it like the Governor of Niger State. Yet they fail to see the security implications of all these.

“If the governors were serious and wanted to have a lecture on security, they need not have embarked on such a wasteful journey with the accompanying expenditure of flight tickets, hotels with all their aides and above all the valuable time wasted at the expense of running their states.

“Certainly, they could have gotten more than they wanted from our resourceful institutions such as NIPSS in Kuru Jos or ASCON in Badagry or even NIA.

“These three institutions have more than enough materials, essays and templates on the problems on security in Nigeria more than the far fetched American Institute.”

The former governor, however blamed the Ministry of Foreign Affairs and the NIA for failing to properly guide the governors.

Lamido said, “I blame the Ministry of Foreign Affairs and the NIA for failing to properly guide the governors for this folly.

“The governors could not have traveled without the facilitation of the Ministry or our Embassy in Washington.

“Nigeria and Nigerians now carry the image of ‘advancing our shame and embarrassment beyond our frontiers’ caused by their Excellencies!”

He further stated, “One is inclined to believe Rufai Oseni when he recently said ‘Nigerian madness has no bound or limits.

“So in Nigeria today, one’s biggest challenge is how one remains sane in this insane country,” he stated.

By Uzair Adam Imam 

In a recent crackdown, the Economic and Financial Crimes Commission (EFCC) has apprehended 34 individuals suspected of engaging in foreign exchange fraud.  

These arrests were made on Friday, April 26, 2024, during a well-coordinated sting operation conducted at the Wuse Zone 4 area of the Federal Capital Territory, Abuja. 

According to Dele Oyewale, the spokesman for the EFCC, the operation was prompted by credible intelligence indicating illicit sales of dollars in the area.  

Among those detained are individuals identified as Usman Mohammed, Abdullahi Nasir, Abubakar Saleh, and others.  

The EFCC’s efforts to purge and stabilise the foreign exchange market have been ongoing, leading to these recent arrests. 

Following standard procedure, the suspects will undergo thorough investigations before being brought to court for prosecution.  

This development shows EFCC’s commitment to combating currency-related crimes and ensuring the integrity of the financial system.

By Zayyad I. Muhammad

The principle “you only sell what you have” is a cornerstone of all businesses, resonating throughout different industries and emphasizing the importance of aligning offerings with available resources and expertise.

It’s crucial to provide goods or services that are accessible and within one’s capabilities. However, Nigerian power distribution companies (DISCOs) are selling services they cannot deliver to their customers. For example, the promised 20–24-hour electricity supply under the new tariffs, such as Band A, appears to be unsuccessful.

The DISCOs are simply selling 20–24 hours of darkness, causing disappointment, eroding trust, and damaging the reputation of both the DISCOs and the Minister of Power.

Among economics and political observers, there is a widely held belief that credibility is paramount in retail, manufacturing, or service-oriented businesses. Customers expect transparency and reliability, and any deviation from this expectation can have detrimental effects on long-term success.

The DISCOs want to emulate other countries, but in those with privatized electricity, tariffs are usually categorized into residential, commercial, and industrial sectors. However, in Nigeria, consumers are simply grouped into ‘BANDs.’ For instance, in countries with reliable electricity, like the EU, consumers have the freedom to choose an electricity supplier from the full range available in their area, as well as the type of tariffs they prefer. In Nigeria, DISCOs hold a monopoly. If your service provider is Ibadan Electric, Kaduna Electric, Yola Electric, etc., you have no alternative; you must remain with that specific DISCO and the tariff band they have assigned to you.

We must acknowledge that every business, including DISCOs, operates within constraints, whether financial, logistical, or technical. While acknowledging these constraints is logical, the new tariff appears to be nothing more than an attempt to expedite Nigeria’s electricity sector development without addressing underlying challenges. How can Nigeria implement tariffs similar to those in countries with well-developed electricity sectors, characterised by massive infrastructure, reliable electricity, flexible tariff structures, and numerous options for consumers in choosing service providers?

The Band A tariff is nothing but overpromising and underdelivering. Businesses that embrace this principle prioritise maximising profits at the expense of their customers’ needs and freedom of choice.

In fact, the majority of Nigerian electricity consumers, regardless of whether they are in Bands A, B, C, D, or E, are angered by two entities: DISCOs and the Minister of Power. DISCOs are perceived as collecting money for services not rendered, while the minister is seen as defending the indefensible.

In serious countries, electricity supplies and tariffs are considered a security and economic imperative. Thus, electricity tariffs can vary widely depending on factors such as economic conditions, infrastructure, government policies, and production methods.

Presently, Nigeria’s economic conditions cannot support or sustain these new tariffs; we lack the infrastructure and economic strength for businesses to bear such high tariffs. Consequently, this would lead to high commodity prices as production costs increase, ultimately resulting in higher prices for goods and services.

In countries with efficient electricity systems, tariffs often reflect the costs of generation, distribution, and maintenance, resulting in lower rates for consumers. For instance, countries like Norway, Sweden, and Switzerland utilise a mix of hydroelectric, nuclear, and renewable energy sources, which helps keep tariffs relatively low compared to gas-powered alternatives.

The Minister of Power and DISCOs must revisit the drawing board as the new tariff has failed upon arrival. For instance, according to an investigative report by the Daily Trust on April 12, 2024, DISCOs issued 37 apologies to Band A customers within one week. They are struggling to sustain a 20–24-hour power supply to Band A customers.

It’s crucial to remind DISCOs of the provision by the Nigeria Electricity Regulatory Commission (NERC): ‘When the Disco fails to meet the committed service level to a Band A feeder for seven consecutive days, the feeder shall be automatically downgraded to the recorded level of supply in accordance with the applicable framework.

Zayyad I. Muhammad writes from Abuja, 08036070980, zaymohd@yahoo.com

By Uzair Adam Imam

The Plateau State Government revealed on Monday that bandits operating in the Wase Local Government Area have handed over a significant number of AK47 rifles to the state authorities.

During a press briefing in Jos, the state capital, the Special Adviser to Governor Caleb Mutfwang on Security and Commander Operation Rainbow, Brigadier General Gakji Shippi, made this disclosure.

Shippi explained that the surrender of weapons followed extensive negotiations between the government and the bandits, showcasing a willingness to pursue peace through disarmament.

He clarified that the bandits didn’t directly surrender the firearms out of fear but through an intermediary involved in the negotiations.

He further mentioned that alongside the AK47 rifles, various other categories of weapons were also surrendered by the bandits, illustrating their commitment to the peace process.

Shippi emphasized that these efforts aim to encourage more bandits to voluntarily surrender their weapons, with ongoing steps to recover additional firearms from other groups.

 By Sabiu Abdullahi 

The Federal Government has launched the National Single Window Steering Committee to bolster trade facilitation and streamline the nation’s import and export processes.

The inauguration ceremony was held at the Presidential Villa in Abuja on Tuesday, with President Bola Tinubu presiding. 

The Committee comprises representatives from pivotal federal ministries and agencies.

These include the Ministry of Finance, Marine and Blue Economy, Transportation, Trade and Investment, Federal Inland Revenue Service, Nigeria Sovereign Investment Authority (NSIA), Central Bank of Nigeria, National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria, and the Nigerian Maritime Administration and Safety Agency (NIMASA). 

Highlighting the significance of the Nigeria Customs Service’s (NCS) involvement, President Tinubu stated, “Nigeria cannot afford to lose an estimated $4 billion annually due to bureaucratic delays, red tape, and corruption at the nation’s ports.

“By embracing the single window system, Nigeria hopes to join countries like Singapore, Korea, Kenya, and Saudi Arabia that have already experienced significant improvements in trade efficiency.” 

The National Single Window project aims to introduce a real-time digital trade compliance system, revolutionizing trade processes.

This initiative is anticipated to enable paperless trade, providing an estimated annual economic benefit of around $2.7 billion.

It is projected to bolster national revenue and enhance port efficiency. With the NCS’s pivotal role in trade facilitation and border security, its involvement in the initiative is deemed crucial.

The service is aligned with the initiative’s goals, aiming to expedite cargo movement and bolster inter-African trade. 

The launch of the National Single Window Steering Committee is viewed as a testament to the government’s unwavering commitment to progress, prosperity, and the welfare of Nigerians.

By Uzair Adam Imam

Governor Abba Yusuf of Kano State has debunked the allegation that he is using unsubstantiated claims against Dr. Abdullahi Umar Ganduje, the National Chairman of the All Progressives Congress (APC), as a sheild to conceal his own failure in meeting the explanations of the people.

The governor claimed that the public that the commissions of inquiry set up by his administration were not meant to target any specific group.

He explained that they were focused on ensuring transparency and tackling political violence in the state.

During a visit from the Emir of Kano, Alhaji Aminu Ado Bayero, Governor Yusuf reiterated the purpose of the panels.

He pledged to investigate and punish those involved in political violence, emphasizing that nobody would be spared, regardless of their political affiliations.

Governor Yusuf highlighted his administration’s efforts to combat political thuggery and empower youth and women through various schemes.

He also mentioned initiatives to improve healthcare, education, and infrastructure in the state.

Additionally, Governor Yusuf announced plans to investigate past administrations for any wrongdoing and recover misappropriated public funds.

The Emir of Kano commended Governor Yusuf’s commitment to development projects and urged parents to monitor their children to prevent social vices and political thuggery.

By Uzair Adam Imam

Central Bank of Nigeria (CBN) employees have expressed profound apprehension as the specter of job loss looms large following the appointment of Dr. Olayemi Cardoso as Governor.

In interviews with journalists, CBN workers voiced concerns that no department within the apex bank seems immune to the ongoing wave of terminations.

This unease intensified with the recent dismissal of another 50 colleagues, bringing the tally to approximately 117 employees shown the door in just 20 days, spanning 29 different departments.

Among those affected are directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.

One employee lamented, “We’ve witnessed indiscriminate layoffs in procurement, development finance, and medical services.

“This trend suggests that other departments might face the same fate soon.

“I fear they’ll target those who worked closely with the sacked directors. Such apprehension doesn’t bode well for productivity or the system.”

Another senior staff member revealed, “Many sacked individuals received their letters quietly and left their offices feeling helpless due to the systemic structure.”

Under Cardoso’s leadership, the CBN has undergone numerous changes in policies and personnel, deviating significantly from the tenure of his predecessor, Godwin Emefiele.

Even CBN vendors have voiced grievances, as some who completed contracts since last June await payment indefinitely under the new management, amidst suspicions that they might have benefited from Emefiele’s administration.

By Uzair Adam Imam

In a heartfelt address marking the conclusion of Ramadan, President Bola Ahmed Tinubu called upon all citizens to unite and recommit themselves to the profound task of nation-building.

Emphasizing the collective responsibility of shaping Nigeria’s future, President Tinubu likened the nation to clay, sculpted by the hands of its people.

“We are the sculptor, and Nigeria is the clay; we build it the way we desire,” he affirmed.

Speaking specifically to the Muslim community on the occasion of Eid al-Fitr, President Tinubu stressed the importance of unity in action. He described the holy season as a time of “total submission to God Almighty and to His command of sacrifice and service to humankind.”

Extending his greetings to Muslims both within Nigeria and across the globe, President Tinubu offered prayers for the acceptance of their supplications and sacrifices by Almighty Allah.

Through a statement issued by his spokesperson, Chief Ajuri Ngelale, the president expressed his hope that the lessons, blessings, and joys of Eid al-Fitr would endure beyond the festivities, shaping the nation’s path forward.

As the nation celebrated Eid al-Fitr, President Tinubu concluded his message by extending warm wishes to all Nigerians, invoking a spirit of unity and prosperity for the nation.

By Zayyad I. Muhammad

In just one week, bandits and Boko Haram terrorists have abducted scores of students, female IDPs, Almajiris and other innocent citizens across Northern Nigeria.

On February 28, 2024, bandits killed two residents of Anguwan Auta in Gonin Gora, Kaduna state and kidnapped 16 others. The kidnappers are demanding a ransom of N40 trillion, along with 11 Hilux vans and 150 motorcycles, for their release.

On March 7th, 2024, 287 students, boys and girls between the ages of 8 and 15, were abducted by bandits from primary and secondary schools in the town of Kuriga in Kaduna State. The bandits have demanded a N1 billion ransom to set their captives free. They also threatened to kill the victims if the ransom was not paid in 20 days. It was reported that, on Tuesday, March 12, 2024, the bandits made contact through the principal of the school, Abubakar Isah, who was abducted alongside the students. The bandits contacted Aminu Kuriga, a friend of the school’s principal, at around 2 p.m. on that Tuesday, asking for the amount.

On Friday, March 8, 2024, Amnesty International (AI) reported that Boko Haram terrorists abducted over 400 people, including women and children, in Borno State. Boko Haram kidnapped the IDPs from different IDP camps in the Gamboru Ngala area of the state, which is one of the least secure parts of troubled Borno State, according to some observers.

In the early hours of Saturday, March 9, 2024, 15 Quranic school students and an elderly woman were kidnapped when bandits raided Gidan Bakuso village in the Gada Local Government Area of Sokoto State.

Looking at outrageous demands and the targets, the bandits and the Boko Haram terrorists are all out to embarrass the government and cash out from it because most of their targets are soft and in rural areas.

However, the Minister of Information and National Orientation, Alhaji Muhammed Idris, was quoted as saying that President Tinubu has directed that security agencies must, as a matter of urgency, ensure that these children and all those who have been kidnapped are brought back in safety and also in the process, to ensure that not a dime is paid as ransom.

Can the government secure the release of the hostages as soon as possible without negotiation or payment of a ransom? Have the terrorists discovered a loophole in the current approach? It appears that the bandits and terrorists are exploiting the successes achieved in certain hotspots, possibly causing security agents to focus on other areas.

What needs to be done is a holistic approach to the deployment of both the kinetic and non-kinetic approaches.

The state, federal, and local communities should work together; collaboration is key to security management. On March 14, 2024, The National Security Adviser, Mallam Nuhu Ribadu, all the service chiefs have met with all 19 northern governors to deliberate on the issue of security. This is good.

Managing security in a vast country like Nigeria with inadequate modern technology for security management is difficult, and federal security operatives cannot be everywhere and anywhere at the same time. And, Here comes the importance of a well-designed and structured state police. They play a crucial role in maintaining law and order within their respective states by enforcing state laws, responding to emergencies, investigating crimes, and ensuring public safety. Thereby, they contribute significantly to the overall security and well-being of the citizens within their jurisdiction, while complementing the efforts of other federal security agencies.

The hope is that the government should consider revitalising and re-strategizing both kinetic and non-kinetic security approaches as being implemented by the Office of the National Security Adviser (ONSA). This will not only lead to more successes and breakthroughs; however, more intelligence gathering is needed. Community engagement and direct psychological communication with the bandits should be employed. In community engagement, communities should be made to feel like part of the solution in security management, thus providing intelligence and also acting as watchdogs for security operatives without being endangered. Secondly, the reported ongoing soft approach’ should be sustained, and in direct communication with the bandits, psychological, social media, and artificial intelligence (AI) methods should be greatly utilized. Most bandits and Boko Haram terrorists now also use social media. Therefore, a coordinated effort should be launched by the ONSA and other relevant bodies to recruit individuals who speak the languages of the bandits. These individuals can then send convincing messages to them regarding the disadvantages and dangers associated with their activities, while also highlighting the benefits of adopting a normal lifestyle. This includes attending both Western and religious schools while still maintaining their culture, beliefs, and legal trade inherited from their communities.

Furthermore, radio and TV remain effective tools to reach the bandits, especially with the widespread availability of satellite TV and advancements in solar power technology. This allows bandits hiding in thick forests to charge their phones, watch TV, and listen to the radio and watch satellite TV.

To enhance security for soft targets and rural schools, the government at all levels, along with security agencies and local communities, should collaborate on implementing both kinetic and non-kinetic approaches.

Zayyad I. Muhammad writes from Abuja. He can be reached via 08036070980, zaymohd@yahoo.com

Baffa Kabiru Gwadabe, PhD

When I first saw the news, I was overwhelmed by the efforts of Mr. Cardoso as the apex Bank Governor trying to stabilize the Naira. In the news cover, it was reported that “the Presidency has warned Forex speculators to discard their Dollars, saying that the Naira will soon appreciate”. But the above statement was said to be made by the President Bola Tinubu’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, through his Twitter (now X) handle on Thursday 21 March, 2024.

Mr. Onanuga urged Dollar speculators to quickly dump their Dollars to avoid ‘tears’ that may ensue after continued appreciation of the Naira. Mr. Onanuga was reacting to the recent disclosure by the CBN that it had cleared $7 billion foreign exchange backlog inherited by the Bank.

The development was confirmed by the CBN’s Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali. According to her, the CBN had employed the services of Deloitte consult as an independent audit company to judiciously assess the forex backlog claims and all valid claims based on the recommendations of the company were settled by the Bank. She further indicated that all invalid claims or transactions were referred to the relevant authorities for further investigation.

Similarly, the above efforts, coupled with others such as the seeming ‘credibility of the CBN’ in keeping to its policies have made the Naira to appreciate to some levels and also to the rise in Nigeria’s foreign reserve to $34.11 billion early this month, which is almost the highest recorded since the last 8 months. This is welcoming for Nigeria as import-dependent economy and led Mr. Onanuga to talk to speculators in his tone of ‘Dump Your Dollars’. The ‘dumping of the Dollars’ is my point of entry from which I want to make some remarks.

Let me start by saying or informing Mr. Onanuga that the Dollar crisis in Nigeria is beyond speculations. To a greater extent, it is an issue of ‘store of wealth or value’ using the Forex, specifically the US Dollar. Many Nigerians that had the opportunity of accumulation of ‘large wealth’, try their ways in ‘safe-keeping’ same by converting certain amounts of Naira to the Dollar or other major currencies like the Euro, the Sterling Pounds etc. This has remained the practice in the country and has reached the extent of what I called the ‘unconscious journey’ or the ‘hardened behaviour’ of not seeing the Naira as any promising currency that is stable. In other words, the Naira will always keep depreciating.

With the kinds of policy efforts by the CBN and the Federal Government, this behaviour or trend may have its last gate. What I am saying, in short, is that the practice of scouting and safe-keeping of the Dollar at whatever rate to keep in ‘graveyards’, ‘underground safe-tanks’, ‘security safes’, ‘travelling bags or brief cases’, ‘laundering overseas’ and ‘deposits in commercial banks’ to mention but a few storage strategies of the Dollars may be curtailed.

I now ask some questions regarding the calls for ‘dumping’ by Mr. Onanuga. If Nigerians that had scouted and stored the Dollars were to repent and bring out some or all of their stored Dollars, where should they dump them? Is the dumping ground ‘safe’ without creating a new round of speculations and corruption? Are the dumpers ‘safe’ from stigmatization and punishment? Are the dumping sites going to be the CBN like during the New-Old Naira notes swap, the commercial banks or the BDCs or new hubs? Will the Dollar holders be allowed to spend the Dollars domestically for their transactions? The questions are many and could go on and on, but I stopped at just number 5, as other people may ask some more questions.

For some of the questions asked above, the answers may be very clear, just like the water colour in the day time. All that is needed in answering those questions is for the CBN and the Presidency to be more proactive and strategic enough in handling the long-standing crisis of the Dollar. This is just to say that there is a better need for change of strategies and operations.

The duo should greatly be reminded of the popular saying that ‘once-beaten, twice shy’. I hope to focus specifically on providing only 2 answers based on my little understanding and focus of the rejoinder, the ‘dumping of the Dollar’ and the ‘domestic spending of the Dollar (dollarization)’.

The dumping should strictly be accommodated by the CBN and new accredited dealers or service providers that are trustworthy other than commercial banks or the BDCs. The commercial banks and the BDCs had been tried and tested at different times and different exchange rate regimes but have failed in their own domains. For instance, most commercial banks hoard, receive bribes, kick-backs, brokering or profit from the CBN official Dollar allocations, thereby further widening the gap between the official rate and the black-market rates.

For the BDCs, they are the agents, on many occasions, that served as the foot-soldiers in scouting and mopping-off all the available Dollars in the market with huge Naira for their clients and launder same in some instances.

Additionally, the Binance crypto market speculations of the rates appeared to be new in the perpetuation of Dollar atrocities in the country but still cannot be ignored.

On the answer to the question of spending the stored Dollar domestically, the answer is a resounding yes. Those with Dollar currencies in their possession should be allowed to transact at accredited points and this will ensure more liquidity of the Dollar domestically and reduce demand pressure to squash undue speculations and arbitraging. Allowing the Dollar to co-exist with the Naira in the domestic economy at reasonable scale is called ‘partial dollarization’. This is important because the Dollar in Nigeria based on the recent happenings and the CBN’s approaches is ‘strangled’, ‘suffocated’, ‘compressed’, and ‘thirsted’ for the Naira. So, what the Dollar now needs the most include but not limited to ‘some breath’, ‘exit-doors’, ‘chimneys’, ‘exhausts’ and ‘water’. So, Mr. Onanuga, the issue is not only about the ‘dumping’ but the provision of ‘sustainable dumping sites or exit-doors or chimneys for the strangulated Dollar’.

Moreover, I know some economists and others will question the very proposal of ‘partial dollarization’ of Nigeria, where Dollar will be used as a medium of exchange in addition to the Naira. Their major argument will be that the ‘partial dollarization’ will jeopardize Nigeria’s CBN monetary policy autonomy, because the CBN has no control over the Dollars that will be in circulation in the country. This is very true but with proper monitoring of the inflationary trends, this can be dealt with but it is good that I remind my colleagues in Economics of the concept of ‘unholy trinity’; where it is practically not possible to control the trinity at the same time. The unholy trinity is made up of the fixed exchange rate regime, independent monetary policy and free capital movement (see Figueredo et al., 2023).

Therefore, dollarization is necessary for Nigeria as it has already been practiced in many countries in the World and is one of the hidden secrets for their stable exchange rate systems or regimes. For those that visit countries such as the UK, US, Turkey, UAE, China, Germany, Saudi, Japan etc, they find at the airports currency exchange boots to convert currencies at ease and also realize at some hotels and malls or restaurants, price menus being quoted in 2 or more currencies for one to choose. Therefore, Nigeria should start its own journey.

On a final note, let me make little summary in bullet points to fine-tune the statement by Mr Onanuga that says ‘Dump Your Dollars’ but the ‘dump’ should be in this order:

• Dump your Dollars with the CBN at its various State offices and Headquarters;
• Dump with new aggregators to be approved by the CBN for onward submission to the CBN at a much regulated and controlled service charges;
• Dumpers or depositors of the Dollars must not have domiciliary accounts but for those that have one, part of the amounts could be lodged into the accounts;
• Domiciliary accounts in Nigeria need to be reviewed with a view to embracing the best global practice for the stability of the Naira;
• There should be authorized currency exchange boots at major International airports in the country for small exchanges, like buying and selling of not more than $1,000 or so for travelers in and out of the country.
  For the case of ‘partial dollarization’, the following are recommended:
• Real estate or physical assets and automobile dealings could be accredited to receive Dollars under stipulated guidelines and this will ease their trouble scouting for Dollars for their imports;
• Major shopping malls and stores, restaurants, hotels/suites, hospitals (private), pharmacies, schools (private and all categories) should be accredited to receive Dollars under the CBN stipulated guidelines;
• Entertainment industry and certain concerts in major cities of Nigeria such as Lagos, Kaduna, Abuja, Portharcourt, Benin, Kano, etc should be allowed to receive Dollars for their gate fee charges under the CBN stipulated guidelines.

Thank you and see you next time.

Dr. Gwadabe (Baffa) is an academic staff of Bayero University Kano, Nigeria, from the Department of Economics. He can be reached at: bkabirugwadabe@gmail.com