The Nation Newspaper CBN; TSA killing university grants; FERMA
It is hard to think through the CBN’s decision to cancel its banned list of 43 items, the most infamous of them being toothpicks which we spent $18m importing in one year. It seems to defy logic. Perhaps it is based on the presumably credible CBN-researched assumptions that these 43 items have always been imported even during the ban and paid for by CBN dollars extracted out of CBN disguised for other purposes and sold at black market rates decimating naira value.
The CBN should also quickly study the negative impact of TSA, Treasury Single Account, on reducing foreign exchange inflows and advise government that federal government will lose the contribution of millions of dollars annually in foreign inflows as well as millions of corporate naira for research grants across universities. Abuja has just been freed from the stranglehold of the TSA making it a de facto state.
Can the new FERMA leadership enforce a load-weight 25-50% reduction for our trucks and lorries, which is a main cause of road damage apart from the corruption and some deliberate poor engineering standards in road construction. The new FERMA head, should not take the job in the interest of Nigerian moral. If he does, he must remember seeing UK roads dug up and repaired by the next day, potholes being filled daily, lorries watching their weight.
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