@DoubleEph @realFejiro All of u heaping blame on GEJ lemme tell you what I know for a Fact as this matter affected me personally... Issa thread in a thread.
@DoubleEph @realFejiro In 2014 i worked in a multinational manufacturing company that imported well over 2bn worth of raw materials annually and held stock of 1bn as buffer stock. By 2015, my friends came to Australia for their MSc and paid 8.14m (AUD1 to NGN148)
@DoubleEph @realFejiro By 2015 August, after PMB had shut d gates of the CBN, my company couldn't import raw materials, sales dropped, we cut production from 2 shifts of 300 guys each to 1. (300 lost jobs). Buffer stock could only cover a 2 month production run. Panic hit
@DoubleEph @realFejiro Distributors who had certain products hiked prices 30% cos they knew nothing was coming from the factory soon (common man don dey suffer). The company cut d sales team and non-essential work roles (another 100jobs gone). By then everything was expensive in the land.
@DoubleEph @realFejiro As a sharp guy, i hit my guys up "how far Australia" but fees had turned 9.6m (AUD 1= NGN 175). All this was in d space of 3 months. May to August 2015 when Brah announced CBN was not gonna sell Forex.
@DoubleEph @realFejiro Company contacted HQ in Europe & d response was 75%of revenue comes from Naija, there isnt enough money here in Forex to order u raw mterials. You have to sort this out yourself. What happened next? More job cuts... price increases & yours truly started doing the math
@DoubleEph @realFejiro I started arranging to relocate to Australia but i couldn't get FOREX. I travelled Lag to Abj to Benin looking for forex, even hit up a mate at the CBN but Forex was as elusive as truth from a Politician. End of the day i bought AUD at 216. 46% increase in 8 months!!!
@DoubleEph @realFejiro By Oct 2015, it was 275 and it remains till now.
Ladies & Gents, I'm no economist but i know 1st hand, Buhari & NYSC woman have absolutely no clue how to run an economy. They had a chance to devalue to 250 & have d naira rebound naturally but no, na him sabi pass. END
Ladies & Gents, I'm no economist but i know 1st hand, Buhari & NYSC woman have absolutely no clue how to run an economy. They had a chance to devalue to 250 & have d naira rebound naturally but no, na him sabi pass. END
@DoubleEph @realFejiro Oct 2016 rather
@DoubleEph @realFejiro Buhari is d major reason i left my country & family behind. I don't regret it tho but nobody should tell me he has a clue what he's doing.
