THELOGICALINDIAN - Nigerian administrator Ibrahim Obanikoro has alleged on Nigerian authorities to abutting all calm accounts for the abutting 12 months Such a move he argues will advice to affluence burden on the naira which has attenuated by added than 10 in the accomplished two months
The Naira’s Continuing Depreciation
The alarm by Obanikoro comes about two weeks afterwards threats from the Central Bank of Nigeria (CBN) governor forced Abokifx to stop publishing the naira’s atramentous bazaar barter rates. Yet alike afterwards the abeyance of the service, the naira continues to accelerate in value.
This continuing depreciation, in turn, is banishment panicking stakeholders including Obanikoro to adduce alike added anarchistic and arguable solutions.
However, in his September 28 tweet, Obanikoro additionally justified his alarm by suggesting that added countries would never acquiesce Nigerians to accessible a naira account. The administrator explained:
Lawmaker’s Suggestion Questioned
As expected, Obanikoro’s arguable alarm sparked an actual acknowledgment from some Twitter users. For instance, in his response to the lawmaker’s suggestion, an annual alleged “Cryptocurrency Thought Leader” brings bitcoin into the altercation and says: “Satoshi looked through history and absitively to actualize this another for us.” The user ends his acknowledgment by admiration that the naira’s bead to $1 for every NGN1000 will “happen faster than I predicted.”
Another user, Orisha welcomes the lawmaker’s alertness to break the bounded currency’s continuing abrasion but warns adjoin closing calm accounts. The user said:
“This abstraction can work, but you can’t aloof abutting bodies dom account, but alone authorization them to abjure all their $ from the annual aural let’s say 4month max. Will the North and Naija Elites acquiesce you to abort banks & bureaux de change [BDC]?”
Still, added users accept asked Obanikoro to focus his absorption on factors that acquired the naira to lose its value, and not the accounts.
Do you accede with the Nigerian lawmaker’s suggestion? Tell us what you anticipate in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
