What can CBN learn from MMM?
Paper money or fiat currency is still the greatest innovation conceived by man. Imagine Nigeria being some type of human zoo of sort that still trades by barter. If we import loads of Apple’s iPhone 7, how many truckloads of cattle will northern Nigeria exchange or barrels of oil will southern Nigeria exchange for their own share of the iPhone imports? When Toyota or Apple labours to innovate that next big trailblazer, it is because they know if it succeeds, they can easily recoup their money. Fast forward to 2016, assume the naira exchanges officially for N300 to a US dollar (it is 304 as I write this). Therefore, if N3 equals 1 US cents, the naira in your pocket is devalued by 99.7 per cent to a dollar (complete devaluation is 100 per cent). Fellow countrymen and women, you can see that your naira is finished! That is why experts say the fastest and easiest way to decimate any country is to destroy her currency. Any rational citizen should ask how we got ourselves into this...