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Posts tagged ‘Remittance’

Open Letter to Sanusi Lamido Sanusi By Dayo Coker.


Mr Governor,

The banks are ripping me off.

When I do an online transaction with my debit cards, these banks charge me between 164 and 166 per USD.

The same banks will convert a USD remittance from a foreign country at 159 – 161.

What does this tell you about your new policy?

Why do you allow this kind of arbitrage to permeate the financial ecosystem?

Why did you not insist that all card-based FCY payments must be converted at the official rates and not the parallel market rates?

Sometimes I wonder if you and your advisers consider the consequences of some of your policy flip-flops.

RDAS to WDAS and back to RDAS.

Or is it naivete?

A form of elitism perhaps?

Everybody in your circle seems to be a blue blood, children of aristocrats reliving the lives of their progenitors.

You are fighting a system that has been destroyed by years of systemic corruption and yet you still employ the same old boys’ network of smooth operators. The Eton-educated, glib-tongued, Saville Row suited economic hit men who continue to pillage this country like their fathers before them.

Why should a discredited banker like Bolaji Balogun have so much influence in the Sanusi era?

I alighted on an old FCY bid from 1986 and guess who signed off the letter from NAL Merchant Bank.

Atedo Peterside and Dr Shamsideen Usman.

The same old folks.

Still here.

Still running the system

I am not a dollariser.

I am just a common man.

And you are letting the banks rip me off.

The views expressed in this article are the author’s own and do not necessarily reflect the editorial policy of SaharaReporters

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