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Salma Paralluelo nnmah nm, taking a Short, Quick, Brief Look at the Exchange Rate of the Nigeria Naira from the Perspective of the Economic History of the Naira

Bysam

Oct 25, 2023 exchange rate of the Nigeria Naira comparative to the United States Dollar and the British Pound Sterling and the Euro, Salma Paralluelo

Salma Paralluelo in football action. Attacker. Striker. Winger. Forward. a World 7

Salma Paralluelo : Salma ormahleechar nm,
Salma omalicham,

looking at the exchange rate of the Naira

very briefly
very shortly and
very quickly

from a view point of

the Economic History of the Naira

folks who have followed

the HISTORY OF NIGERIA

including

the Economic History of Nigeria

the Politico-Economic History of Nigeria

the History of the Political Economy of Nigeria

the Social History of Nigeria

the Socio-Economic History of Nigeria

the History of the Social Economy of Nigeria

and other folks who

are old enough to remember
may remember that
it seemed

at around circa 1988 / 1989 as if
the IMF was trying to get? Nigeria to take a loan
from the IMF ( International Monetary Fund ).

if my memory serves correctly

in a characteristic dribbling move

reminiscent of
his nickname – Maradona
referencing
the football maneuveres of the Argentine football star
( .. including? his “hand of GOD” duplicity and shenanigans ?? )

the then Nigeria Head of State

General Ibrahim Babangida

also called IBB by Nigerians

the first and only Nigeria leader till date October 2033
to operate a DIARCHY Government

i.e a Government merging 2 distincts form of Governance / Rulership
and in the instance of Nigeria at that era in time
a Government combining Military Rule with Civilian Democratic Rule ▼▼

( .. in this model of Government
which was
considered by many persons to be
very acceptable to many Nigerians
and
also considered by many persons to be
a very successful model of Governance,

there was
an active Civilian House of Representatives
and
an active Civilian Senate
while
the State Governors and the President were Armed Forces Personnel .. )

▼▼ and
who thus remains till date October 2023,
in NIGERIA HISTORY,

Nigeria’s only Military President

( .. distinct from
purely Military Heads of State
e.g
General Aguiyi Ironsi,
General Yakubu Jack Gowon,
General Murtala Mohammed,
General Olusegun Obasanjo,
General Muhammadu Buhari,
General Sanni Abacha,
General Abdulsalami Abubakar

and

distinct from

Civilian Prime Ministers and Presidents
e.g
Prime Minister Tafewa Balewa,
President Nnamdi Azikiwe,
President Shehu Shagari,
President Olusegun Obasanjo,
President Umaru Musa Yaradua,
President Goodluck Jonathan,
President Muhammadu Buhari,
President Bola Tinubu .. )

called for a national debate
among all Nigerians high, low and in between
on whether Nigeria should take the IMF loan
( .. if my memory serves correctly ).

Salma nnkeh nm,
Salma nkem,
at the end of the period of debate,
( if my memory serves correctly ),
Nigerians said they did not want the IMF loan
and
TO THE CREDIT OF THE IBB GOVERNMENT
THEY DID NOT TAKE ANY LOAN FROM IMF.

however,
Salma ohbee nm,
Salma obim,
at this same period
it may be recalled
( .. if my memory serves correctly .. )
that

according to rumours

it seemed/seems
some white? folks? were saying that
the Nigeria Naira was TOO STRONG

and it seems
according to rumours
that
their comments and views were
carried in some newspapers and other media
at that time
many years ago.

perhaps it was this view
that
the Nigeria Naira is/was TOO STRONG
that led the Nigeria Administration
to implement

the

FIRST TIER FOREIGN EXCHANGE MARKET

and the

SECOND FOREIGN EXCHANGE MARKET

etc

in which

the Naira went downwards in value

from

1 Naira = 1 US Dollar

2 Naira = 1 US Dollar

4 Naira = 1 US Dollar

and further downwards

and
this devaluation in real terms of the Naira
has continued fairly consistently over the years
since that 1989 period

to the extent that today

October 22, 2023

it is rumoured that

the Naira has continued it’s
continuing
free?-fall?
downwards-fall

comparative to the US Dollar
falling further downwards

from

1120 Naira = 1 US Dollar

just 2 days ago

October 20, 2023

1200 Naira = 1 US Dollar

today October 22, 2023

and
many observers are worried
that
if the Nigeria Administration is not able
to find a way to

either

halt any further fall of the Naira

achieve an improvement / improvements in the strength / value of the Naira

the Naira may continue
the woeful? downwards fall
further downwards

cc :

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Salma Paralluelo : Salma ormahleechar nm,

Salma omalicham,

looking at the exchange rate of the Naira

very briefly

very shortly and

very quickly

from a view point of

the Economic History of the Naira

folks who have followed

the HISTORY OF NIGERIA

including

the Economic History of Nigeria

the Politico-Economic History of Nigeria

the History of the Political Economy of Nigeria

the Social History of Nigeria

the Socio-Economic History of Nigeria

the History of the Social Economy of Nigeria

and other folks who

are old enough to remember

may remember that

it seemed at around circa 1988 / 1989 as if the IMF was trying to get? Nigeria to take a loan from the IMF ( International Monetary Fund ).

if my memory serves correctly

in a characteristic dribbling move

reminiscent of his nickname – Maradona referencing the football maneuveres of the Argentine football star ( .. including? his “hand of GOD” duplicity and shenanigans ?? )

the then Nigeria Head of State

General Ibrahim Babangida

also called IBB by Nigerians

the first and only Nigeria leader to operate a DIARCHY Government

i.e a Government combining Military Rule with Civilian Democratic Rule

( .. in this model of Government which was considered by many persons to be very acceptable to many Nigerians and also considered by many persons to be a very successful model of Governance,

there was an active Civilian House of Representatives and an active Civilian Senate while the State Governors and the President were Armed Forces Personnel .. )

and

who thus remains till date 2023,

in NIGERIA HISTORY,

Nigeria’s only Military President

( .. distinct from

Military Heads of State e.g General Aguiyi Ironsi, General Yakubu Jack Gowon, General Murtala Mohammed, General Olusegun Obasanjo, General Muhammadu Buhari, General Sanni Abacha, General Abdulsalami Abubakar

and distinct from

Civilian Prime Ministers and Presidents e.g Prime Minister Tafewa Balewa, President Nnamdi Azikiwe, President Shehu Shagari, President Olusegun Obasanjo, President Umaru Musa Yaradua, President Goodluck Jonathan, President Muhammadu Buhari, President Bola Tinubu .. )

called for a national debate among all Nigerians high, low and in between

on whether Nigeria should take the IMF loan

( .. if my memory serves correctly )

Salma nnkeh nm,

Salma nkem,

at the end of the period of debate,

( if my memory serves correctly ),

Nigerians said they did not want the IMF loan

and

TO THE CREDIT OF THE IBB GOVERNMENT THEY DID NOT TAKE ANY LOAN FROM IMF.

however,

Salma ohbee nm,

Salma obim,

at this same period

it may be recalled

( .. if my memory serves correctly .. )

that

according to rumours

it seemed/seems

some white? folks? were saying that the Nigeria Naira was TOO STRONG

and it seems

according to rumours that

their comments and views were

carried in some newspapers and other media at that time many years ago

perhaps it was this view that

the Nigeria Naira is/was TOO STRONG

that led the Nigeria Administration

to implement

the

FIRST TIER FOREIGN EXCHANGE MARKET

and the

SECOND FOREIGN EXCHANGE MARKET

etc

in which

the Naira went from

1 Naira = 1 US Dollar

2 Naira = 1 US Dollar

4 Naira = 1 US Dollar

and this devaluation in real terms of the Naira has continued consistently over the years since that 1989 period

to the extent that today

October 22, 2023

it is rumoured that

the Naira has continued it’s

continuing

free?-fall?

downwards-fall

comparative to the US Dollar

falling further downwards

from

1120 Naira = 1 US Dollar

just 2 days ago

October 20, 2023

1200 Naira = 1 US Dollar

today October 22, 2023

and

many observers are worried

that

if the Nigeria Administration is not able

to find a way to

either

halt any further fall of the Naira

achieve an improvement / improvements in the strength / value of the Naira

the Naira may continue

the woeful? downwards fall

further downwards

cc :

Salma Paralluelo : A Short, Quick, Brief Look at the Exchange Rate of the Nigeria Naira from the Perspective of the Economic History of the Naira [1]

Salma ormahleechar nm,

Salma omalicham,

looking at the exchange rate of the Naira

very briefly

very shortly and

very quickly

from a view point of

the Economic History of the Naira

folks who have followed

the HISTORY OF NIGERIA

including

the Economic History of Nigeria

the Politico-Economic History of Nigeria

the History of the Political Economy of Nigeria

the Social History of Nigeria

the Socio-Economic History of Nigeria

the History of the Social Economy of Nigeria

and other folks who

are old enough to remember

may remember that

it seemed at around circa 1988 / 1989 as if the IMF was trying to get? Nigeria to take a loan from the IMF ( International Monetary Fund ).

if my memory serves correctly

in a characteristic dribbling move

reminiscent of his nickname – Maradona referencing the football maneuveres of the Argentine football star ( .. including? his “hand of GOD” duplicity and shenanigans ?? )

the then Nigeria Head of State

General Ibrahim Babangida

also called IBB by Nigerians

the first and only Nigeria leader to operate a DIARCHY Government

i.e a Government combining Military Rule with Civilian Democratic Rule

( .. in this model of Government which was considered by many persons to be very acceptable to many Nigerians and also considered by many persons to be a very successful model of Governance,

there was an active Civilian House of Representatives and an active Civilian Senate while the State Governors and the President were Armed Forces Personnel .. )

and

who thus remains till date 2023,

in NIGERIA HISTORY,

Nigeria’s only Military President

( .. distinct from

and distinct from

called for a national debate among all Nigerians high, low and in between

on whether Nigeria should take the IMF loan

( .. if my memory serves correctly )

Salma nnkeh nm,

Salma nkem,

at the end of the period of debate,

( if my memory serves correctly ),

Nigerians said they did not want the IMF loan

and

TO THE CREDIT OF THE IBB GOVERNMENT THEY DID NOT TAKE ANY LOAN FROM IMF.

however,

CONTINUED IN [2]

cc :

Salma Paralluelo : A Short, Quick, Brief Look at the Exchange Rate of the Nigeria Naira from the Perspective of the Economic History of the Naira [2]

( CONTINUED FROM [1] )

however,

Salma ohbee nm,

Salma obim,

at this same period

it may be recalled

( .. if my memory serves correctly .. )

that

according to rumours

it seemed/seems

some white? folks? were saying that the Nigeria Naira was TOO STRONG

and it seems

according to rumours that

their comments and views were

carried in some newspapers and other media at that time many years ago

perhaps it was this view that

the Nigeria Naira is/was TOO STRONG

that led the Nigeria Administration

to implement

the

FIRST TIER FOREIGN EXCHANGE MARKET

and the

SECOND FOREIGN EXCHANGE MARKET

etc

in which

the Naira went from

1 Naira = 1 US Dollar

2 Naira = 1 US Dollar

4 Naira = 1 US Dollar

and this devaluation in real terms of the Naira has continued consistently over the years since that 1989 period

to the extent that today

October 22, 2023

it is rumoured that

the Naira has continued it’s

continuing

free?-fall?

downwards-fall

comparative to the US Dollar

falling further downwards

from

1120 Naira = 1 US Dollar

just 2 days ago

October 20, 2023

1200 Naira = 1 US Dollar

today October 22, 2023

and

many observers are worried

that

if the Nigeria Administration is not able

to find a way to

either

halt any further fall of the Naira

achieve an improvement / improvements in the strength / value of the Naira

the Naira may continue

the woeful? downwards fall

further downwards

cc :

By sam

Samuel Ojekwe is essentially just your basic everyday fellow that you see in your neighbourhood while you go about doing your stuff and who, like you, wishes and hopes that the world becomes a better place for all of us.