NIGERIA: FINANCIAL WATCHDOG WANTS TO DECREASE MONETARY BASE? 150THOUSAND NAIRA Vs 1MILLION NAIRA?

After going through the CBN Circular Limiting Cash Withdrawals & Deposits, titled "INDUSTRY POLICY ON RETAIL CASH COLLECTION AND LODGEMENT (IITP/C/001)" by Muhammad Nda (Director, Currency Operations Department), I was forced to pen down my mind, and this is just it... "Banking in Nigeria, is the creation and crafty manipulation of money our confused government and our myopic apex bank." Just have to voice some of my ideas, stupid maybe, but that's my view about what these eggheads at the Apex bank fail to financially graft well.

Money is not brought into circulation by governments, but by private banks making loans to customers, the banks control how much money is in circulation.

Most of the money in circulation is not physical money, cash and coins. It is represented as figures passing from one computer account to another electronically via money transfers, credit cards and cheque books. The more money, electronic or otherwise, that is in circulation, the more economic activity can take place and therefore the more products are bought and sold, the more income people have, and the more jobs are available. [Not still sure if our government is capable of providing enough jobs, maybe later.]

THINKING ALOUD - My thoughts about the mirage I see on the bridge that links the Apex bank and Federal government: If our financial watchdogs in collaboration with the federal government have forgotten, let me remind them that Monetary and Fiscal Policies wrongly implemented at the wrong time would not help them achieve even "disinflation" unless they do away with the monsters eroding the path to economic stability. On the slippery side, our current overpaid economists and their advisers at the Apex, most of whom have no idea what is wreaking our sick economy still fail to treat their partially blinded

ideas, hence, fail to brainstorm on the fact that the following 3 aspects are important if we need a real positive change: 1. An active Structural change in Nigeria's job market [not promises nor the "hypothetical Xpoint agenda"] 2. The "Exponential growth of debts," both public and private, are caused by the inexorable mechanism of interest spearheaded by the Apex bank. [To me, these 3 Instruments of Monetary Policy: A. Open Market Operations(Interest rates and monetary base) B. Reserve Requirements and C. Discount Window Lending, would not yield the desired result in an unstable society where government erased the words "accountability" and "empathy" in its transactions. 3. Our government's inability to see the notable absence of technological progress in the fields of energy, production and transportation. [Even if our government claims not to be blind, what active steps have been taken lately? [Our officials at the higher echelon travel overseas frequently; are they blind to innovations or fail to understand that we are in the same planet with countries like India where the cities are powered by 24/7 electricity and reliable/efficient internet services are provided at affordable prices to the lowest class of the masses] Above all, we should just forget the aspect of "Natural Economic Cycle" for now. All I feel is that, we are disorganized and disoriented by many factors, but let us start with the monster called "Erratic Power Supply" which kills positive productivity level in Nigeria, until then, Nigeria is a runaway train. I still believe we Nigerians can do better if our government will be faithful to the masses. ***One last question: Why didn't the federal government implement this economic missile targeted at the masses before 2011 elections? ***