The presidency says Nigeria’s naira harmonisation across foreign exchange markets has been achieved under President Bola Ahmed Tinubu’s administration.
Bayo Onanuga disclosed this in a terse statement reacting to
the naira’s stability at the foreign market on Friday.
According to him, the renewed Hope Agenda is not a slogan
but real.
“Harmonisation of exchange rate achieved. Renewed Hope Agenda
is not just a slogan. It is real,” he wrote on X.
This comes as the naira appreciated to N1,532.34 and N1,535
per dollar on Friday across official and parallel foreign exchange markets.
Earlier, Bismark Rewane, popular economist and Chief
Executive of Financial Derivatives, said that the naira has strengthened
against the dollar and that Nigeria’s economy is leaping away from crisis.
Advertise on NigerianEye.com to reach thousands of our daily users
Nigeria shouldn’t be harmonising its naira with foreign currencies like dollar and euro, this is completely absurd and unrealistic, all we need do is to ban using these currencies in our internal and external trade. Naira, Nigeria legal tender should be restored as our national pride and we should be using it by signing swaps system with our trade partners in our local currency instead of accepting dollar as a dominant currency. This is what BRICS has started doing within countries who are already inside the BRICS. Recently, Tanzania has just signed a law banning transactions on all foreign currency in the country. This’s as a result of to U.S. recent high tariffs war engaged with many countries. It is now illegal in Tanzania to accept foreign currency in hotels, restaurants, parks and zoos, and these are places where where millions of come to visit every month of the year. This is what Nigeria should do in order to put his FOREX market in place and not to exchange a dollar to one thousand five hundred Naira. Nigeria exchange rates with the dollar must be 1$ to 3 Naira. If Nigeria can put in place the de dollarisation, our foreign exchange will be much better and stronger. Secondly, Nigeria should not be use dollars as his reserve currency and finally, President Tinubu should stop taking IMF/WORLD BANK loan. By taking these loans, Nigeria is indirectly financing US debts why Nigerians suffers consequences due to higher interest rates, and this is why Nigeria economy is stagnant and redundant, and it brings poverty, famine deceleration to our economy and heat up insecurity, inflation and unemployment.
ReplyDelete