Contest : The Present Confusion In My Country Polity
edited with canva
Politics they say is a dirty game, the advent of godfatherism and corrupt practices has been in okay in my country today various atrocities, empty promises and unhealthy looting of funds has been prevalent. I would participate in this great contest
Share your understanding of the current situation by placing emphasis on concern about fuel pricing and Naira redesign
sourcedistress in the country, we need solutions!
There has been recent situations in the country since the year 2023. There is an upcoming presidential election coming up in the year 2023. In view of this there has been great complications and concerns in the country.
The hike in fuel price was so alarming as it has skyrocketed from 150 naira to about 550 naira almost thrice the initial cost price. This is a crucial problem as we go bitter and complain, instead of receiving help we are congratulated with catastrophe
However, the Central Bank Of Nigeria came up with an economic policy so to say, statistics show that money in circulation is actually twice the amount in the financial institution, therefore they do not control money in circulation. Therefore a policy was adopted to sort it out.
Additionally, there was a policy to redesign the naira notes. A call was made that all submit their old currency before a deadline date, this was to retrieve all cash and control the new currency via distribution round the nation. After this great call all complied but the new currency was hoarded!
Furthermore, people could not access money and hardship got to it's climax, we all submitted all our old cash to be stranded. The old notes is no longer a legal tender in the country and the new notes is very scarce with individuals reselling their new notes for whooping prices!
What are the resultant effects of these issue in your area
sourceviolent riots and revolt is it's effect here
This issue is causing riots and revolts as people who visit banks to get money and gets turned down immediately tends to revolt and attack these financial institution. People are also stranded in the markets as they cannot buy food with old money notes, therefore hunger and pain is the order of the day.
There is suffering and pain, people cursing the government and also it has been noticed in my area that mortality rate has been on the rise these few weeks too mostly out of depression, high blood pressure, hypertension and so on. Young families struggle to make end meets. It is quickly turning people suicidal this is a pressing result of the issue in my area.
Do you think the country's present situation was politically motivated due to the upcoming elections or targeted at anyone
sourceNigerian politics ahead of election
The tone in the question tells it all. A presidential candidate has been trying to buy votes too during the election and his plot was leaked too. Therefore, his plot was leaked by an anonymous identity. This caused the financial institution come up with the policy to nullify his notes he tends to use to buy votes, therefore it remains a checkmate to this politician.
This activity left the candidate toothless and thereby ensuring a few and fair election come this weekend. This was the secret behind the policy, I must say. We Al look up to the votes counting and deciding our fate too as a country too.
Do you have a better solution to these issues and possible ways to help alleviate suffering observe around you? (Share how you've survived this moment)
sourcecryptocurrency & cashless policy solution.
The best solution I can think of is using the cryptocurrency and cashless policy where servers and satellites are put in place for smooth transactions too. Goods and services being traded against cryptocurrency and other valuable digital assets can also aid the process.
Finally, I have been seeing the cashless policy , as transfer of money from your account while you get these goods too. This would reduce congestion in financial institution and also enhance it from the comfort of your mobile devices.
I use the cashless policy now, as I visit a mall close to my house and pay my bills and purchase all I need and get all my goodies to my home. Less stress and more benefits too. If others can adopt the cashless policy perhaps we can pass the phase too.
I invite @drhira @ruthjoe @steemdoctor1 to join the contest