Stay updated with breaking news from Godwin Owoh. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Streetjournal Magazine is an online investigating media house that specializes on systematic, serious crimes, political corruption or corporate wrongdoing.
CBN Godwin Owoh, a professor of applied economics and expert in central banking, in an interview with GEOFF IYATSE, speaks on the economic distortion caused by unrestrained Ways & Means (W&M) financing, the Central Bank of Nigeria (CBN) supervision and other burning issues arising from the current operations of the apex bank. • ‘For devaluing naira, govt should give Nigerians tax forbearance’ What came to your mind when you heard of the CBN’s dismissal of the boards of First Bank of Nigeria Limited and its holding company? It was shocking to many economic agents to hear that that...
“We think that debt has to be seen from the standpoint of its origins. Debt’s origins come from colonialism’s origins. Those who lend us money are those who had colonised us before. Under its current form, that is imperialism-controlled, debt is a cleverly managed re-conquest of Africa, aiming at subjugating its growth and development through foreign rules. Thus, each one of us becomes the financial slave, which is to say a true slave.” This is a quote from one of the famous speeches of the late Burkina Faso leader, Thomas Sankara. The speech was delivered at a summit of the then Orga...
• China’s secrecy clause to loans poses problems, says study • Exposure to EXIM Bank increased by over 2000% in eight years • Lawyers defend legislative scrutiny, sovereign immunity clause As Nigeria and China this year mark their golden jubilee of official relations, there are growing fears over the imbalanced relationship, especially with China’s predatory lending bond with Nigeria and the country’s debt exposure to the Asian powerhouse, which has risen geometrically in recent years. Official relations date back to February 1971 when Nigeria established diplomatic relations with...
• Policy will create billions of inappropriate money • Measure will worsen inflation • Ask FG to unify rates, fix imbalances to achieve stability The Central Bank of Nigeria (CBN) may have jettisoned the planned exchange rate convergence for quick fixes in the bid to stabilise the foreign exchange (forex) market. x This is coming about nine months after the Governor of the CBN, Godwin Emefiele, said the bank would continue to pursue FX rate unification programme around the Nigerian Autonomous Foreign Exchange Rate (NAFEX). A source privy to the chal...