NAIRA WAR: Buhari Should Step Down?

• There is a heated debate over the current value of the Naira on the parallel market
• The naira has strengthened against the dollar for the third consecutive day
• Nigerians share divided opinions on the nation’s economy
• Governor Ambode calls for development of local manufacturing as Femi Falana seeks restrain orders against CBN

Reports on Wednesday, February 24, suggested that the naira strengthened further against the dollar on the parallel market.

Some reports claimed that the naira traded at about 305 to a dollar, while others disclosed that the nation’s currency traded between 250-270/dollar.

Goodnews it was to a teeming number of Nigerians, however, others were of very divergent views. Both factions took to socio-media to air their views on the news of the naira’s unsteady fluctuation on the parallel market.

Below are the views of Nigerians in reaction to the reported appreciation of the naira.

Buhari, APC-government berated

Rita Jean Rita said: “For those who claim to love Nigeria, advise Buhari to step down or recall okonji iwuala otherwise naira wil continue to fall so never rejoice on this news.”
“Common pure water in my area in Ikom LG of cross River state is now sold at N20, what a country oh God,” Evalsam David James lamented. Adding: “My father please come and help us because we don’t know were Buhari and his APC-party is taking this country to”

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Matt Oke said: “We don’t have good commodity like the u s therefore why should we run after the price of dollar? When you say APC change, is this the change you talk about?”


The appreciation of naira on Wednesday, February 24, stirred controversy on socio-media

McMayowa sarcastically said: “If with corruption, 1 dollar was 180, and now without corruption, 1 dollar is 405; then ladies and Gentlemen, you all will agree with me that we need corruption in this country. #bringbackcorruption”

Positive thinkers and Prayer warrior’s corner

Dr Golden said: “They were mere speculations, but intel from reliable source disclose that PMB wants us to be self sufficient by producing our made in Nigeria matchsticks, chewing sticks to shoe made in Aba and Ankara just to mention a few. Read up How China and Singapore got to where they are today.”

Gbolahan Olugbemi said: “Our oil is now sold for $36 as against $150, Naira will continue to fall except the price of oil jumps up. We now have less dollars from crude oil and demand for dollars by Naira remain d same. What Jonathan did to suppress fall of Naira was to spend our foreign reserves. The only country that can assist our Naira is Saudi, if it can reduce its supply of crude oil to increase our supply then all may yet get back to normal”

Oby Chioma was of the opinion that some Nigerians have a very big problem. She said: “For the past few weeks or months everybody was shouting dollar is high, now it is coming down again some are asking if it will last?” “Na wahooo!,” she stressed, adding: “I was expecting to hear thank God for that and lets hope for the best from some of us , but rather from dollar now to crude oil, Okonji Iwula , we don’t have good commodity , pure water matter enter, agriculture follow am… Haba, no be dollar matter again wey don come down bi de news ?”

“Lets be praying for our country and government too, God is still the God that rules in our affairs,” Chioma concluded.

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A certain Iyke was of the opinion that: “The responsibility of everyone of us is to pray for Nigeria and if I may ask, how many of us are doing that? How many of us remember this country in our devotional prayers? Even the president considers this necessary yet we do more of online attacks than to pray for our country.”

In reaction to the economic hardship currently being faced by Nigerians, Governor Akinwunmi Ambode has advocated for the development of local manufacturing as a way of developing the economy. The Lagos state governor expressed optimism that the foreign exchange crisis plaguing the country which has resulted in naira depreciation is solvable.

Meanwhile, on Wednesday, February 24, Femi Falana (SAN) approached the Federal High Court in Abuja seeking an order restraining the Central Bank of Nigeria (CBN) from allowing market forces to determine the exchange rate of Naira. In his suit, the human rights lawyer prays the court compels CBN to stop the use of the United States of America’s dollar as a legal tender in Nigeria.

Liveintel.Com urges you to let your voice be heard on the pressing issue, what do you think of the naira appreciation and the move to stop the use of dollars as legal tender in our country?

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