Dollar now underground currency of Nigeria’s economy — Peter Obi

Dollar now underground currency of Nigeria’s economy — Peter Obi

 The presidential candidate of the Labour Party, LP, in the
2023 general elections, Peter Obi, has lamented the ‘dollarisation’ of the
Nigerian economy.

 

Speaking during an interview with Arise TV on Monday on the
state of the country, Peter Obi stated that the Naira should have been
devalued.

 

He added that the use of the dollar in the country has led
to unproductivity.

 

Obi said: “Dollar has become the underground currency of our
economy; it shouldn’t be. We have a currency called the naira.

 

“All the things people use dollars to do that are not
productive should be removed.

 

“I can assure you that when you remove it, it can strengthen
the currency. Today, even when you want to do party primaries, people share
dollars. That is not our currency.

 

“There should be a stiff penalty in dealing with the issue.
If people earn dollars legitimately, let them spend it the way they want.

 

“However, it has now become a means of corruption and
criminality in our system.”

 

Peter Obi further stated that the country should work more
on exports to strengthen the currency.

 

 

Source: Dollar now underground currency of Nigeria’s economy — Peter Obi

 - NigerianEye
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