There was a currency… – Nairametrics

0
110

Our very own literary genius, Prof Chinua Achebe, shortly before he bade us goodbye, left us with a book that he succinctly and aptly titled, “There was a country.” The motivation for that book must have come from events that continue to shape a country that was once the envy and hope of many, into one where no one wants to live in, or be part of. The fate that has bedevilled the entire country is now circling around our beloved currency, the Naira, so much that if nothing is done, and done fast enough, there may be a book entitled, “There was a currency.”

It all started in 1986, when the IMF confused and compelled the then government of Nigeria to devalue the Naira. That was when the word, “conditionality,” became a household word in Nigeria as the IMF gave the then Nigerian government “conditionalities” for an IMF loan that the generality of the populace opposed. Precisely, on September 26th, 1986, the then Nigerian…

Read more…