By Uche Mbah
One week after the inauguration of President Buhari for second term, he is yet to announce his cabinet, fueling speculations of a repeat of his first term delay that sent the nation into recession.
Buhari was sworn in on May 29th, 2019. He immediately flew out of the country for the Organization Of Islamic Countries, OIC, meeting. There he was vocal about the Palestinian cause, and had opportunities to meet the leaders of the Arab world.
The Nigerian traditional allies were absent during the inauguration.
His inaugural speech was absent at the swearing in, though it is believed that he shelved that in favor of June twelve, the new Democracy Day.
It took him six months to appoint ministers during his first term. Many of them ended up being dead woods, though he had indicated he did not place any premium on Ministers, whom he described as noise makers.
But since he came back from Saudi Arabia, he has been seen with his former Chief of Staff together, Abba Kyari, and other Aids,raising the question of whether he still works with his dissolved cabinet.
Kyari has been rumored to be one of the people who runs the country by proxy.
Recall that Aisha, the Wife of Muhammadu Buhari had lamented that about two or three people have hijacked the Presidency, effectively calling the President Lame Duck.
Rcently, the Central Bank, CBN, governor, Godwin Emefiele, had warned that Nigeria may return to recession. Many investors are waiting for the direction the government will take within the next four years. The capital market has been sluggish since after the elections,
They wait for the new direction, to know whether the routing of the Naira will continue. This Magazine findings indicate that there are different forex regimes, where a few powerful few buy forex at as low as N200 to the dollar and distribute to Bureau de Changes, BDCs, to sell at N360 per dollar.
It was alleged that such powerful individuals effectively lobbied for the retention of the current CBN governor.
The Emir of Kano had once warned that Buhari is making new millionaires through Forex.
As a former CBN governor, he should know.