IGBOZURUOKE FORUM

It is quite sad! The US dollar is just a stone’s throw from N2, 000. In these challenging economic times, the proximity of the dollar to the N2, 000 mark is indeed disheartening. 

It is good this dollar thing is run by the North and not Ndigbo. However, it is essential to recognize the cooperative approach in managing the currency exchange, particularly by the northern regions, as opposed to potential division if it were an Igbo-dominated venture.

Were it an Igbo dominated business, we can bet, some Mc Oluomos with motorparks would have started a civil war. They would have blamed the dramatic fall of the naira not on the economy, but on organized sabotage by an ethnic group. Had the business been under Igbo influence, there might have been a risk of civil unrest, with individuals exploiting the economic downturn to fuel ethnic tensions. 

The scenario paints a grim picture of potential scapegoating and baseless accusations, diverting attention from the core economic issues plaguing the nation. 

They would have asked the EFCC not to release the arrested BDC operators. They would have asked thugs to visit BDCs, and burn down their shops. 

Thank God, FX x is one major street business in which the Igbo play only a subsidiary role. Thank God, no tribe has been made to bear the brunt. No bigot has fabricated a malicious conspiracy theory to incite ethnic division and hate. 

Fortunately, the foreign exchange market remains a diversified field where various ethnicities contribute, lessening the probability of a single group shouldering the blame for the devaluation of the Naira. It is commendable that no malicious conspiracy theories have surfaced to incite hatred or division among tribes.

In addressing the current economic predicament, it is crucial to remain united. The call for the Central Bank of Nigeria (CBN) to find the necessary inflow to stabilize the Naira is not just a plea; it’s a collective concern as the nation witnesses a steady decline in the economic well-being of its citizens. 

The escalating prices of basic commodities, such as cement and rice, underscore the urgency of finding effective solutions.

As we navigate these challenging times, let us emphasize unity over division. Blaming a particular tribe or engaging in destructive actions will only exacerbate the existing problems. Instead, let us hope for concerted efforts, both by the government and the people, to revive the economy and ensure a brighter future for all Nigerians.

We pray that the CBN finds the inflow it’s looking for to stabilize and strengthen the naira because this situation is no joke. Nearly everybody in Nigeria becomes poorer by the day! A bag of cement now sells at 15k, and a bag of rice is now 80k. Renewed Hope indeed! 

Editorial, The Southernexaminer