Senator representing Delta North senatorial district Ned Nwoko has criticised the longstanding policy that facilitates the dual circulation of foreign currencies alongside the naira in Nigeria.
He described this practice as a surrender of Nigeria’s economic sovereignty, heavily influenced by historical ties and decisions that prioritized foreign currencies over the national currency.
Nwoko delivered a discourse on the critical need to restore and fortify the country’s economic independence in a Television interview programme.
“The fundamental issue at hand is the historical context in which we agreed to allow foreign currencies to circulate within our borders, thus undermining our own sovereign currency, the naira,” Nwoko said.
He emphasised that this practice has contributed to the relegation of the naira, limiting its recognition and use beyond Nigerian borders.
Nwoko outlined a bold three-pronged strategy to reclaim…
Source: Guardian Newspaper
