Two years ago, the suspended CBN governor, Godwin Emefiele, stopped sales of forex to BDCs. Today, the new management of CBN brought them back. Will this help the naira? In my experience, yes. A whole lot. Let's see what history teaches. A short thread.

The CBN began the sale of forex to 74 BDCs in 2005 to keep the foreign exchange market liquid. The deal was for BDCs to sell only $5,000 or less to customers. CBN gave them $20,000 to all the BDCs per week.

How is this naira float different from Emefiele's float in June 2016? What does naira float mean? What does it mean for you? What does it mean for your business? What does it mean for your Japa Plans? Why is your governor smiling to the bank? I explained it all. A thread. In June 2016 — exactly seven years ago — Godwin Emefiele's CBN allowed the naira float at the interbank market. The local currency depreciated from 197 to the dollar to 253 in a few hours — before ending the day at about N280 to the USD. The market was happy, just like yesterday.

Naira devaluation is imminent. President Bola Tinubu has made it clear that his govt will unify exchange rates. But what exactly does that mean for you? I have reported Nigeria's monetary policy for about 10 years and here's what the data says. A thread. Let me save you some time and answer your questions here. Will there be naira devaluation? Yes. When will this be? Soon. My guess is before a new minimum wage is announced. Will there be unification of foreign exchange markets? That is a different kettle of fish. Let me explain.

For 46 years, Nigeria paid subsidy on petrol. On May 29, 2023, President Bola Tinubu declared an end to it. What does this mean for the naira & fuel pump price? I analysed existing data & predict that the new price will be N296 per Ltr or N415 per Ltr. I can explain. #Thread Why two prices? Which one is it going to be? But we now buy for N450/N500 per litre? Will Dangote refinery make any difference? How does any of these affect the naira?

I reckon these are your immediate questions. So let's take it one after the other.

Last night, I was in a meeting with Dangote and friends. I asked them what the #RusssiaUkraineWar was doing to their businesses, especially as it concerns the wheat industry. I didn’t expect response I got. They said food scarcity is coming and it’s not just #wheat. A thread. Boye Olusanya, CEO of flour mills, said “Russia and Ukraine are number one and number five in wheat production, and if you take that volume, which is almost one-third of global production, there would be an immediate impact on prices.” This has started. Ditto for Maize.

Time and attitude are great virtues we need to submit ourselves to.

I remember doing my IT at one QC lab in Lagos, and they were paying us 2k per month. N2,000 for 30 days! My Tfare daily was N600 from Bariga to Ketu.

Nonetheless, my attitude to work was always 100. A thread. I'd resume early, put myself to good use. Work my socks off, and respect my superior. Great attitude.

Not like they didn't have the money, they just didn't want to give us. Our clients were Dangote, Friesland, Mobil, One Lebanese Bakery in Wemco, and many other big names.

A lot of people woke up in the last 24 hours to believe stuff about 5G causing #COVID19 & cancer.

Friends, I've been researching 5G for months. I've spoken to some of the best minds in the world about it, including the Nigerian leading Scotland's 5G revolution. THREAD. Please RT I first took interest in 5G when I read about its potential in medical care, in virtual conferences and meetings. How a Dr in India can conduct surgery in Nigeria without leaving India and without your politician leaving the country. You know what that means. #5GCoronavirus

The danger in Chloroquine

President Trump says the FDA has approved the very powerful drug chloroquine to treat #coronavirus.

In Lagos, Nigerians rush to pharmacies to clear out chloroquine, saying Trump had declared it cure for #COVID19. But here's the catch. THREAD. Please RT I also went to a pharmacy in Lagos, where I found people buying five, six sachets of chloroquine at once.

Remember, chloroquine was banned in Nigeria in 2005 based on @WHO recommendation. That it still sells in Nigeria is quite the Nigerian story.

So here's the problem:

We did the first 'live fact check' of a flagship 'presidential debate' in Nigeria’s 58-year history at the British Council, Ikoyi during the pre-screening of Up North, the movie. The challenges, the adrenaline & the lessons. The THREAD. #ShowYourWorkings #Factchecking #FactCheck @ngBritish @ngBritishArts @UKinNigeria @SussexUni @thecableng @MansurIB007 @mz_Awojulugbe @BudgITng While studying for my masters at @SussexUni, I had a google doc for my plans with @thecableng upon return to Nigeria. Whenever I had a new idea or anything close, I'd write it there & devise a plan to get it done, including things I needed to learn to get it done #FactChecking

At University of Sussex, I studied all Irregular Warfares in the 20th and 21st century, and I’d like to share a few insights from other Irregular Warfares on why I think Nigeria will not win the war against Boko Haram in the next 20 years. THE THREAD Nigeria’s broad counterinsurgency (COIN) plan is to outkill Boko Haram. This is simplistic use of brute force. Military spendings from 2011 to 2015 shows that Nigeria spent $16.382 billion on defence, but made little progress against Boko Haram.