Dear Naija people: There is no Cabal bent on asphyxiating the rest of us. The ‘Cabal’ is a figment of our collective mythologization (should be a word if it isn’t) and this myth does no more than cause us to wring our hands in resignation. Neither our pleas to a myth nor our appeals to the gods will extract us from today’s quagmire. Our mantra, all the way to 2011, must be: “Fuck the Cabal—real or myth; we’re taking our Country back.”

Following a report by Sahara Reports that the CBN has sacked a number of Nigerian bank CEOs, a lot of discussion arose about whether this was part of the “Northern Agenda” to witch-hunt southerners and to generally re-colonize the south. There was also a lot of general applause for the CBN governor on this action…

BUT: Nigerians are incredibly apt to ask the wrong questions. The appropriate question to ask is this: Does the CBN have any statutory authority to intrude into the private sector in this manner? Unless the banks are owned by the government, how can the CBN legitimately “sack” private sector bank CEOs?