Sam Nda-Isaiah, the Founding Chairman of LEADERSHIP, fondly called Uncle Sam, would have been 62 today, May 1. As his family, friends and indeed, the entire LEADERSHIP family mark his 62nd posthumous birthday, we share with our readers, one of his numerous commentaries on Nigeria as published on his column, The Last Word in March 2009.
Last week, I raised the alarm that the naira had precipitously fallen to N163 to a dollar. I also discussed the danger that portends for an import-dependent country like Nigeria. But I figured I was addressing leaders who didn’t care. And the situation responded appropriately. By Thursday morning, it had become N172 to a dollar; and, by the evening of the same day, the dollar was selling for NI75. It was at that point that I lost count. Because the dollar was scarce last week, it was difficult to keep up with the free fall of the naira. In some places, the dollar had spot prices.
What that clearly meant was that, last week, most Nigerian businessmen…
Source: Leadership Newspaper
