“While globalization will make the world smaller and more accessible,we must continue to appreciate its vibrant diversity”—Jean Phillip Courtois
The goings in the socio-political atmosphere of Nigeria is a lullaby for young and old. It was the electioneering preparation that was gathering opinions of the Nigerians prior the transpiration of the currency redesign.
The entertainment part of the election is seemingly washed away by the cashless policy topic. This was especially so because of the unavailability of cash as the suffering becomes tougher due to the draconian policy that, instead of being a relief has continued to worsen the situation with the Nigerians who could not use their “useless” cash to cater for their needs.
The election saga as well as the cashless policy had been the interesting topics the Nigerians are preoccupied with before the latter changes and began to serve a role of influencer on the former. It is no gainsaying that the policy would reflect on the polls in the few days ahead, all things being equal.
Having taken that into account, It is about time you ceased to realize that globalization through its information technology has been a major factor responsible for the hullabaloo as it allows many Nigerians including the unaffected—although few—to vent the apex court, federal government and the CBN over a policy that would help reduce circulation of fake currency, insecurity, corruption, money stockpiling, money laundering, ransom kidnapping, and enhances an effective foreign exchange rate amongst others.
Social Medias Vices
As known for its prominent instrument of globalization, social media has been playing a twofold role amidst the whole discomfort—both advantageous and disastrous. It has been the medium by which people are updated on the information of the policy.
Therefore people can easily read and appreciate what is the next move on the cashless policy since the ratio of the Nigerians who rely on radio and televisions as sources of information and those of social media, especially, Twitter is incomparable.
However, while the social media has been a saviour towards actualising the policy,it has also given chances of misinformation with regard to the policy. A couple of days ago I was bombarded with the thought that the disobedience of the Executive arm to the Supreme Court order would amount to lawlessness as the populace deem it obfuscated to discern which order is to obey.
Not to be confused, the President, Major General Muhammadu Buhari (rtd.) had reinforced his directions that the old N200 note should coexist with new 500 and 1000 denominations until April 10, 2023, when it ceased to be legal tender.
Conversely, the Supreme Court had asked parties in a suit filed by some governors to nullify the deadline “to maintain the status quo until February 22 when the suit would be heard,” the Punch correspondent reported.
On another hand, the Central Bank under the governorship of Godwin Emefiele had on Friday 17, debunked the claim that the CBN authorised the deposition of old N500 and N1000 denominations.
Yet another question is that some state governors including, Ogun, Kaduna and Lagos are confidently thwarting the Presidency’s proclamation such a Governor had told residents that the state government will stamp out businesses and banks that refuse to accept the old N200, N500, and N1000 denominations.
It is a controversial atmosphere indeed that the Nigerians are lost in. Nobody is willing to face the challenges of the “no cash” phenomenon, yet, no one is ever ready to face the wrath of the law; but whose order is to obey to be on the safe side is not clear. This is a typical example of the consequences of information technology—globalisation on the existing catastrophe.
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Also noteworthy is its role in the mobilisation of protesters who have been destroying national and corporate assets for the past few days as a way of showing their dissatisfaction. For clarification, some states in Nigeria including, Oyo, Rivers,Ogun, Lagos and Edo are rocked with protesters showing massive discontentment against the naira scarcity earlier this week.
This is not to chide the protesters who are a manifest of the Frustration-aggression theory of revolution by Dr Faruk Boge, neither am I congratulating them on the consequential loss of lives and properties, but to establish the fact that, social media commentaries and demonstrations among other factors precipitated the protests so far and is also a reason for the continued boiling nature of the atmosphere.
The major effect of social media on Nigeria’s economy and foreign reputation have been the greatest concern. The ‘giant of Africa’ as popularly addressed is viewed by various spectators across the globe as it’s becoming a shadow of itself.
These international actors would begin to think of how to make a profit out of the loss. They look forward to dealing with Nigeria whose economic development is not manifested, whose peace agencies do not function when need be, and whose laws are the most disregarded by her citizens. What an influence on a country who has got interests to pursue!
I was quick to ponder what internal consequences the ensuing anarchy would have on the country at the end of the day? Then, I submitted that this trepidation (if not shunned or solutioned) may lead to a nonparticipation in a perilous electioneering, as people could easily conclude,or at worse may lead to an overthrow of government by the military who may consider the citizens’—including the protesters’—human right to freedom of expression as an over utilisation but a system where no opinion is aired except aligning with the government’s,a best feature.
Muhammed is a student at Lagos State University. 08142957061/[email protected]
