The President of the Trade Union Congress has said that the Central Bank on Nigeria is confused and does not know the steps to take to steer to the economy out of its sorry state. Kaigama said that all sectors of the economy had collapsed with the nation’s currency losing value against the Dollar and other foreign currencies every hour. According to him the misfortune of the Naira had continued with the currency exchanging for between N480 and N492 to the dollar in the foreign change market. Kaigama’s comments were contained in an address released to coincide with the nation’s 56th independence anniversary on Friday. He lamented while the nation was politically independent, the economy had been hijacked by the International Monetary Fund and a few wealthy individuals to the detriment of the citizenry. He said, “Ours is a tale of a country that has been hijacked by the Brettonwood institutions and an insignificant few in terms of number, who now manipulate the system to their own pers
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