CENTRAL BANKING AND MACROECONOMIC UNDERDEVELOPMENT PART 3

3.CENTRAL BANKING AND MACROECONOMIC UNDERDEVELOPMENT IN NIGERIA. Naira values in place of distributable dollar revenue,the apex bank had become the owners of the dollar balance" Then Les leba concluded"Thus the bigger the distributive dollar revenue,the bigger will the burden of huge naira allocations and excess liquidity and the greater also will be the challenges of inflation,cost of funds,rising natonal debt and a weaker naira.But guess what,the bigger the naira substitution,the bigger will also be"returns from CBN currency.You see that folly.sikena! The apex bank had over the years profited immensely from this self imposed revel of economic hardship,that it willingly plunged the nation into darkness.It has funded several looting of the treasury,over the last 30 or 40 years ranging from military to civilian administration using the method.Does it mean it has a claim to justify her whereof the so called"Autonomous reserves"to support the naira and serve as collateral to reduce the cost of foreign loans to government?How effective was it in practice in the face of constantly plummeting naira exchange rate inspite of increase in dollar revenue? The cost of foreign loans hasnt gone down abit still exceeds experiment indistressed economies elsewhere.It doesn't make sense for the federal government to go overseas to borrow money at outrageous cost when our CBN sits atop pools of billions of dollars of such risk free sovereign debt which exist outside the strategic control of ibikabram@gmal.cont.

CENTRAL BANKING AND MACROECONOMIC UNDERDEVELOPMENT.PART 1

1.CENTRAL BANKING AND MACROECONOMIC UNDERDEVELOPMENT IN NIGERIA. Central banks worldwide have acquired a toga of sovereignty within their coordinate jurisdiction of sovereign states.They have become most advanced and most powerful institutions of capitalism in any economy.They regulate and oversee the respective economies of the world.The central bank of Nigeria like elsewhere around the world is not an exception,has grown over the years to be an octopus of some sorts and author of macroeconomic underdevelopment. However,it is a common knowledge that she controls and owns more than two thirds of the nation's foreign reserves and surprisingly the central bank of Nigeria as a whole not part of the Nigerian budget.Like in other climes the management of foreign reserves is one of the statutory mandates of the CBN.This is in line with section 2 subsection c of the CBN Act of 2007 that states that the CBN shall"maintain external reserves to safeguard the international value of the legal tender currency".Frankly speaking,that is to defend the value of the naira and I did find it hard to believe that the CBN was working against the very mandate it was supposed to defend.Let us face the fact fully divulged from sentiment or prejudices. On January,28,2013,writing in the pages of Vanguard,late Henry Boyo,popularly known with pseudonym Les leba,in financial vanguard,the seasoned Punch columnist unleashed the bombshell.The central bank director of research Charles Mordi at the ibikabram@gmal.cont.

VULGARIAN FRACTION PART 1

1.VULGARIAN FRACTION What if you are caught in a culdesac,a whirlpool, whirligig, whirligiging,your boodle spinning round like a vertigo, that you are thrashed like a whipping boy in a whispering campaign in such a whirl, what are you gonna do? Tell me when you are whipped with such whiplash injury probably not like a whippersnapper whippily and whippily what whimpering options will you consider, a dumbo stampede or a stint? What if you barely peruses the wherefores whereunto you are caught will you make amend for a whimsical option? It's much better not to wheeze and much advisable to comprehend wheels within wheels sequel to a strike option.Otherwise you might be moving from frying pan to fire. When you uncover the true strike options, then you think about the wherewithal. Sometimes, you consult brasstacks broadly even the grandmaster occult. What if you stumble against yourself ? And you were clueless to infer :Why will that be possible over your ass your dead body or grand Canyon? It is possible due to the extant fact that surrounded you and you might be wetted by wet blankets and vampire bats.Moreso, as you are heavily whacked to thoroughly defeat you and your hellish whale of time. You have a hatchet, a chopper, a hammer, a mattock, or a mallet , a pickaxe , an auger or a gimlet, pincers or a chisel to drill,do dirty drill or a top flight blast, it does not take you donkey years to get result, provided you were never topheavy nor torqued by torpor gallantry brimful. ibikabram@gmal.cont.

SONNET 9 EXTRA

S.9.The voyeaur waddles his vulgarianfraction like a vulpine,waffling and wacky,waggery and wagging to voyeauristically wager his bet on whoremasters.A wallopping wanderlust of the mud wallow.A well hung, a well groomed,well intentioned and a well knitt and not well heeled and well lined but wet dreamt and well oiled,hustling whispering campaign as pastime at the watercourses.Bounteaous passion for whaling,his whirligig whereon he whoops holistic whirlpool,a whippersnapper and a dapper.He churns sarcastically a whippingboy even when whined and whiplashed his unruly whiphand at whimpering distance.Like a wildfire,hunting wildfowls themselves like his ilks wildfowled wildgoose chase rottened with damned sow of wild oats and here a reproach to this ilks willy nilly,his idiosyncrasies took a wigging.And to checkered antecedence,dutifully windowdressed him, hid wimpled windingsheet willowy or not,tilting at windmills.This parody could be windowshade to historians but not to windbroken historicists.The bimbolike wankering wight,like the renegades ,windward and windswept,marooned in a windstorm, hanging like walrus moustache,wine,women and song.The vixenish spouses at nuptial knots condescended himat alehouses and bartenders clung to their winchesters of maddening rants,videlicet the volteface of the bard's bibliophiliac libido.A viscous visage of vituperative pedigree argues him viva voce,a vitriolic hell still to vociferate not with shrinking violet, staunchly held to ibikabram@gmal.cont.

GRECIANS OLD WIVES TALES.PART 5

.GRECIANS'OLD WIVES TALES. he complains of his Son's beatings and Pheidipides too emerges cooly justifying the beating.He pompously emphasises son's right to beat his father and justify his right to beat mother too" "This is crazy,irony at its best.Aristo phav" "Now he flies into rage blaming Socrates for his latest plight and finally leads slaves into a frenzied attack that burn down the school." "Aristocrat aristophane!Now I can see why Plato blamed the play for the muse death." "Exactly!" "You know in the subsequent plays rather further vilification of Cleon,he now focused on the corrupt state of Athens.Most specifically the notion of old versus new became major theme and the so called battle of ideas between rationalist worldview and good thinkers like Thales,Anaxagoras,Democritus and hippocrates and a growing set of belief that civilized society was an invention of man not a gift of the gods,truly developing from a primitive ways of thinking." "Oh I so much love it .very interesting." "But you must apply their logics In everyday living and I will guide you.I ve said before,know you have lack and through existentialism you can take your destiny in your hands.In this case scenario we refer to eccletic existentialism,and it rest on two legs so to say dual existentialism.Empiricism on one hand and rationalism on the hand.Strepsides is an invalid thinker and he could partly learn from empiricism but hardly think.Pheidipides ends up as true eccletic existentialist dual type

GRECIANS OLD WIVES TALES PART 3

3.GRECIANS' OLD WIVES' TALES. the play was produced in the City Dionysia and perhaps world first extant comedy of ideas and scolded intellectual freedom of classical ancient Greece.Strepsiades in the play was massively indebted sitting besides his son's bed.He initially enrolls in Socrates school the thinkery and in the process of wisdom mastery and training masturbates which irritates Socrates who suggests he should produce someone to learn philosophy on his behalf.Then he enrolls his son instead,so he might learn the rhetorical skills to defeat creditors in courts.Though what he really learns is cynical disrespect to people in authority, for social mores and public contempt.This turn pheidipides against his father and frowning and raging, Strepsiades burns down in disgust the school." "Why did he call the clouds?" "It is because when he is impressed with the wisdom of Socrates and learns some of his invention,he practically begs to be introduced to him.And Socrates as if like God appears from the top in a basket,he uses to observe the sun including other meteorological phenomena." "Yea,lowers from the top or cloud." "Exactly,Socrates descends and inducts elderly student during the school's ceremony that involves parade of majestic singing clouds patron goddesses of thinkers. It is the best works of Aristophane according to the play most specifically his originality at lampooning politicians like Cleon.It also lampoon athenians for messing their callendar not complying ibikabram@gmal.cont.

GRECIANS OLD WIVES TALES

1.GRECIANS' OLD WIVES' TALES.a.OLD COMEDY. "Have u any inkling of the old comedy?" "Pretty much versatility had I honed over the years.Aristophane's master of irony was legendary a muse that later influenced the existentialism and existentialist revolutionary world view of the modern age." "That pretty much sounds fascinating"his heart beats and pulses notched the stratosphere. "Of all the 40 plays,to which reportedly less than a dozen had survived,i did romance a lot that play which was instrumental to Socrates'death." "You mean Aristophane did influence the demise of the great Socrates?"shocked to the consternation and unable to discountenance the gauntlet. "Of course incontrovertible and indubitable.Now the point,Aristophane's The Cloud according to Plato in one of his dialogues was catalyst behind the death of Socrates." "How?"misty eyes gulled with dillitente."I did know he was put to death for misleading the youth against the government.And he died by drinking hemlock. "Plato did not exonerate that play and singlehandedly blamed the play of the prince of ancient drama as slander,a libel and a traduce that contributed to the death of Socrates." "Is that the only play you were acquaintance or have read?" "The Wasp and The Birds came in 422 B.C.and 414 B.C respectively and then Lysistrata in 411.B.C.So many other plays.Though they were other plays that caricatured the image of Socrates by other satirical playwrights,Plato did not exonerate the clouds." "Sometimes,it

CENTRAL BANKING AND MACROECONOMIC UNDERDEVELOPMENT.PART 2

2.CENTRAL BANKING AND MACROECONOMIC UNDERDEVELOPMENT IN NIGERIA. At the save Nigeria group Forum Lagos noted"CBN owns $30b. out of the total reserve of $43b. "during the period. This is not our bone of contention ad it does not really matter whether it owns it 100%,80% or not but what it does with the money and how it handles monetary policy to the betterment of the economy at large is what really matters.Any attempt to do otherwise is tantamount to macroeconomic underdevelopment.It is obvious no President since democratic transition in May 1999 has contravened this CBN act of forex management . Other functions and uses of the foreign reserves include the settlement of both public and private foreign currency obligation of Nigeria,in the importation finance for vital goods like power.For instance,a ministry or agency of government needs foreign exchange for external expenditure such as payment of goods and services,settlement of external debt services and a host of other,it must provide naira equivalent to the CBN before the apex bank sells required foreign currency. It does not seem to hold waters to justify the persistent wanton nature of the apex bank verdict and hazy approach at forex method. In the same article entitled "Central Bank 's Lion Share Of Foreign Reserves"published on page 48, Monday, Mordi further explained and I quote Les Leba, who brokered reported truce separated from fallacy:....that since the CBN had paid constitutional beneficiaries naira