Black magic responsible for inflation, says Nigerian Minister of Finance
29 Dec 2010
He's going to get that damn inflation under control
Abuja – As the year draws to an end, several public office holders are finding it ever harder to defend their performances over the past year.
It is widely accepted that Nigeria goes to sleep during the festive period of Christmas, and no sector more so than the government machinery.
But those in the know will tell you that this period of relative calm is actually abuzz with underground activities as top ranking civil servants go about lobbying to secure their jobs in the year to come.
The current boss of the central bank has particularly been under a lot of pressure to justify his continued stay in office in the face of rising inflation, massive unemployment and near collapse of the credit system.
Haven tried in the past to blame the Nations economic woes on the consumption of kpomo, thereby eating our leather industry (a story we broke on WazobiaReport.com), the well dressed governor has now been overheard peddling an even more intriguing theory.
According to him, at the heart of Nigeria’s unending economic strife is the problem of persistent inflation. Fiscal and monetary policies that are traditionally used to control inflation just don’t seem to be effective in Nigeria, he laments.
He now proposes that the inability to control inflation is thanks to nothing less than black magic.
According to him, inflation is primarily caused when there’s too much cash in the economy. It thus follows that the diabolical activities of godless people doing money juju is to blame for the countries excess supply of cash.
“How can we expect to bring inflation under control when some people are busy using magic to print millions of Naira everyday?” the perplexed CBN governor asked.
But not one to state a problem without proffering a solution, the astute gentleman has proposed a cashless economy in which 99% of transactions would be carried out using credit, cash, or debit cards.
“Let’s see how they would do juju to put money into their bank accounts,” he was overheard saying.
His job may or may not be on the line, but one thing is for sure, Nigeria has never known such a CBN governor as him; capable of thinking outside the box.
- Joe Aibozaw