Adopting a Flexible Exchange Rate Regime??? Totally Wrong

The news that the federal government is about to adopt a new FOREX policy which will make the foreign exchange market flexible has filled the airwaves. This is definitely not the best time for such policy. Here is the reason why. 

The Vicious Cycle of Poverty: The Nigerian Case

It is quite unfortunate that after 56 years Nigeria is still regarded as a third world country even though the country has crude oil, a resource that has been in demand all over the world for a long time now and that has propelled other countries like Saudi Arabia and United Arab Emirates to become developed countries.

Emotional Hijacking, Ever heard of it?

Mr. Bobby and Mrs. Crabtree had a 14 years old daughter, Matilda Crabtree. One day Mr. and Mrs. Crabtree went out to visit friends so they sent their daughter to go stay with a friend. Mr. and Mrs. Crabtree came back to the house around 1 am in the morning, unknowing to them their daughter Matilda decided not to go to her friend's place as was agreed with her parents. She stayed back at

REV. FR. THOMAS MALTHUS WAS RIGHT AFTER ALL

          On my way to a burial ceremony at the village on a fateful day, I noticed that most compounds I passed had one poster of a dead family member either young or old. Some compounds even had 2 or more of such posters. Almost every Friday or Saturday, there is a burial going on somewhere .Despite this perceived high rate of

The Economic Consequence of the Peace

                        
While watching football matches on T.V, I found out that some players are always looking for an opportunity to fight each other especially when they are fouled. In most cases, there are pushes and shoves, chest to chest combat but none ends in a real fight. The players are obviously scared of the sanctions that might be imposed on

Understanding the Dutch disease: Nigeria is suffering from the Dutch disease yet She does not wish to recover

Just last week, it was all over the news, the Petroleum minister Dr. Ibe Kachichukwu announced that oil exploration in the north will commence by the 3rd quarter of this 

year (that is between September and December). With the way the announcement 

was made, the minister was expecting us to clap hands for the petroleum ministry

Monetary Policies: Moral Suasion explained in lay terms

Moral suasion is another method the Central bank uses in carrying out its monetary policy and control of the circulation of money in the economy. Moral suasion is more like an advice or plea. It can be that the central bank is begging commercial banks to reduce the amount of money that they are circulating or to increase it. Here no sanctions or punishments for non-compliance are given to banks, the CBN simply advices the banks to follow such a policy

Monetary Policies: Bank rates explained in lay terms

This post is a follow up of the tools for carrying out monetary policies which we have been discussing….Check previous posts for more details.

    Bank rates are the rate of interest at which other banks borrow from the CBN or from each other. For instance, if Access bank borrows money from the Central Bank, they will have to pay back with interest. The rate of interest that CBN will charge Access bank for that money borrowed is called Bank rate. Also, if UBA borrows money from Fidelity bank, they will also have to pay back with interest, the rate of interest that Fidelity bank will charge UBA is also called Bank rate.

I know you are wondering “WHY A BANK THAT HAVE EXCESS MONEY WITH THEM

Kim K wows in LanYu Couture in Cannes (photos)

Kim Kardashian West looked absolutely stunning as she made an appearance at Jeweller De Grisogono's party on the French Riviera, in a shimmering chainmail gown with flowing train. She also had expensive diamond jewellery on - a pair of dazzling teardrop earrings and a huge emerald ring which dazzled on her finger.  See more photos of Mrs West walking the red carpet after the cut..

Monetary policies: Cash Reserve Ratio explained in lay terms

Previously, we discussed Open Market Operations and Liquidity ratio as Monetary policy tools, the CRR Cash Reserve Ratio is another tool for controlling the circulation of money in the Nigerian economy.

When banks collect deposits of money from their customers, they are not allowed to keep all the money with them at the bank; they are required by law to deposit a percentage of all the deposits they have collected with the CBN. The reason for this is

A Saudi bride was dumped by her husband when she refused to stop sending texts: Reports

                                
The honeymoon was over before it began. 

A Saudi husband demanded a divorce on his wedding night because his bride refused to get off her mobile phone, according to local.

The trouble started when the newlyweds arrived at their hotel following the wedding. The bride was messaging with friends, who were congratulating her on getting married,

Trade Union Congress backs out of planned NLC strike

                            
Members of the Trade Union Congress TUC have backed out of today's planned strike action by the Ayuba Wabba led NLC. The TUC announced this after a joint meeting between Labor leaders and the Federal government yesterday night May 18th. Electricity workers, NUPENG and PENGASSAN have already signified they will not be participating in the proposed strike action.

Photos: Zahra Buhari pictured at a store opening in Abuja

                                     
The 21-year-old daughter of President Buhari attended the official launch of a store in Abuja last Saturday. More photos after the cut..

FG Inaugurates Committee to Review Pump Price, Minimum Wage

                              

The federal government has set up a committee to  review the new pump price of petrol and the national minimum wage.

The committee, which will work with the Joe Ajaero-led faction of the Nigerian Labour Congress (NLC), will also look into the current N18,000 minimum wage.

Iran accuses Kim Kardashian of being a spy for Instagram

 Iran is accusing Kim Kardashian of being a secret agent ... According to Vanity Fair, the agency claims Kardashian works for Instagram to corrupt its youths by posting erotic and provocative selfies. The allegation was made by an Iranian agency charged with protecting its women and young people from the ravaging influences of Western culture, the Iranian Revolutionary Guards Corp, ( IRGC ) 

Kim Kardashian selfies are not welcome in Iran, says the country's moral police. IRGC

Man trying to beat his wife accidentally punches their 3 month old baby to death (Photos)

                              
A man has landed in trouble after accidentally killing his child in a failed attempt to punch his wife. According to reports, Chinedu, a barber, was fighting wife on Thursday morning, at Umuchima, Owerri, Imo State.In an effort to subdue his anger, the wife is said to have picked up their 3-month-old baby.That didn't stop him from attempting to rain blows on her .As she tried to dodge a punch,

(Photos)Unemployed female PHD student takes to the streets of Port Harcourt to beg for job

                             
The 26 year old PHD student took to the streets of Port Harcourt with a placard begging for a teaching,lecturing or counselling job...Hope someone sees and gives her a job.

Skales fires back at fan who called him a Wizkid hater

Skales put up a poster of an upcoming Wizkid concert at Barclays centre in New York and a follower went in on him,calling him a Wizkid  hater and the star went in on him..What ya think?

EFCC arrest former Kaduna state governor, Ramalan Yero and ex PDP governorship candidate, Sagir Takai

Operatives of the Economic and Financial Crimes Commission EFCC, yesterday night May 16th, arrested former Kaduna state governor, Ramalan Yero and a former PDP governorship candidate Kano state in the 2015 general elections, Salihu Sagir Takai. A source at EFCC told Daily Trust that both men were arrested in connection with the Deizani’s N23bn campaign largess.

"Nude selfies till I die" Kim K declares as she accepts Break The Internet Award

                           
Kim Kardashian-West on monday accepted the Break the Internet Award at the 2016 Webby's for her "unparalleled success online, undeniable talent and natural ability to use the Internet to create buzz, engage with fans and communities, and get the world to pay attention."

Which is your favorite pick?

MariahCarey was spotted with her head held high (even after she reportedly almost took a tumble when she apparently tripped out of one of her heels)  in the same black and gold sequin Balmain dress that Beyonce wore a few weeks back... you know we have to ask. Which is your favorite pick?

Tweet of the day.....

Tomatoes have been scarce of late. According to this lady on twitter, they've started robbing people of tomatoes.

13 police officers recognized with Medal of Valor by President Obama

President Obama honored 13 police officers who performed extraordinary acts of bravery. Each officer was awarded the Public Safety Officer Medal of Valor 🎖 These officers had gone through a range of situations: Some had suffered stab wounds or burn wounds. Others had defused tense hostage situations to protect members of their communities. They hailed

NYSC says 2016 Batch "A" stream II orientation will still commence this Saturday as FG releases funds for the scheme

The National Youth Service Corp, NYSC, has released a statement debunking the rumor making the rounds that it has postponed the Friday May 20th commencement for the Batch "A" stream II orientation due to lack of funds. According to the statement, the orientation will still go on as planned on Saturday as the Federal government has released money for the scheme. Read the statement below

"I take my faith seriously"- khloe Kardashian

                                           
Khloe Kardashian takes her faith very seriously.

The Keeping Up With the Kardashians star wrote an essay about her Christian faith for Tuesday's edition of Lena Dunham's Lenny newsletter. In it, Khloe defended her decision to divorce Lamar Odom in 2013 after four years of marriage. "I've been blessed with a lot in my life, and I've also had challenges," said Khloe, whose divorce proceedings stalled after Lamar was hospitalized in the fall of 2015. "It was a challenge for me when I decided to get divorced."

Nigerian Senate withdraws anti-social media bills

The Senate has withdrawn the frivolous petition bill otherwise known as the Antisocial media bill sponsored by Senator Bala Ibn Na’Allah. At the plenary today May 17th, the senate received the Report of the Committee on Judiciary, Human Rights & Legal Matters that examined the legality of the bill.

Monetary Policies: Liquidity Ratio explained in lay terms

                                

Still on the topic; tools for money control or monetary policy, we discuss liquidity ratio

What is liquidity?

Liquidity is the speed with which financial assets can be converted into cash. For instance, a recharge card is not cash but I can easily come out on the street and sell it to someone who needs it and the person pays me cash; therefore the recharge card is Liquid because its liquidity is high, it can be easily converted into cash. On the other

I'm having a BABY ..Put some 'respeck'' on my name-Blac Chyna slams critics

Blac Chyna is expecting Rob khardashian's baby. Blac Chyna dropped a comment on the CelebriTea page at those criticizing her looks as a pregnant woman..She said put some respeck on her name..lol

Kim Kardashian gushes over Kanye and family in Vogue interview

Vogue: Your favourite names?
 KKW: “North and Saint.”
Vogue: What you hate the most?

25 year old man rapes 4 year old girl to death in Adamawa

                           
 Nongvan village, Timdore District in Ganye Local Government Area of Adamawa state has been thrown into mourning and confusion as a 25-year-old man allegedly raped a four- year-old toddler to death. Vanguard reports that, the accused, who is a nephew to the father of the girl, is said to be fond of the little girl, Aisha Ali, and always played with her. The