Tinubunomics? It’s Economic Illiteracy Writ Large!

 By Olu Fasan

Bola Tinubu, Nigeria’s self-regarding president, says he deserves an entry in the Guinness Book of World Records for his economic reforms. Speaking at the 10th German-Nigerian Business Forum in November last year, Tinubu said: “To me, if you didn’t mention me in the Guinness Book of Records, I would find a way to insert myself because I did it (the economic reforms) without expectations.” But whether he said that in jest or in earnest, the truth is that he goofed spectacularly, displaying a hubristic detachment from reality.  

*Tinubu

Think about it. When, as president, your policies inflict untold suffering and misery on the citizens, it’s utterly arrogant and insensitive to beat your chest and demand global accolades for your “achievement”. It is also inconsiderate and out-of-touch to tell the citizens to endure excruciating pains now for some pie-in-the-sky gains in the future. Thomas Jefferson famously said that “the care of human life and happiness is the only legitimate object of good government”. But Tinubu’s economic “reforms” immiserate and dehumanise ordinary Nigerians!

Naira Redesign, Queues And Quest For A New Nigeria

 By Elvis Eromosele

The amount of queueing Nigerians have been subjected to in the last couple of weeks is unprecedented. It is equally unbecoming. It’s almost like the country had gone back four decades.

Fights have broken out in queues at bank facilities, filling stations and INEC and LGAs offices across the country. There are trending videos of people stripping naked in protest inside banking halls, others hitting each other with queue dividers and one person has been confirmed dead inside a banking hall, somewhere in Asaba. Nigerians born in the 2000s, GenZs, should be forgiven for thinking the end of the world is here.

Why Ponzi Scheme Thrives In Nigeria

 By Olusuyi Adaramewa

The emergence of “Ponzi Scheme” in the annals of investment’s Lexicon albeit a globally notorious phenomenon, was not a recent development. Its historical antecedent was set in motion with the celebrated Charles Ponzi scheme which came to the fore in the 1920s. Perhaps, it may not be trite to assert that the scheme slipped quietly into the financial eco-system without any inkling on the part of its preys that the strategic initiatives of Charles Ponzi were disguised by investments jiggery-pokery. 

Be that as it may, from the available financial memoir, it has been enunciated with profound lucidity that the progenitor of the scheme was an Italian business man, named Charles Ponzi. Indeed, Ponzi’s escapades, as well as his atrocious moves on the investment landscape were huge and monstrous. As at the last count, investors in the Ponzi’s Scheme lost about $15million. He was not just the grandmaster of the art, but also an octopus per excellence in the game. Thus his posture and sobriquet as the grandfather of Ponzi schemes has remained incontrovertible by any one till date.