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Falana Denounces ‘Dollarisation’ Of Nigerian Economy By Federal Govt

May 9, 2023

Human rights activist and legal luminary, Femi Falana (SAN) has denounced the Nigerian government for creating the condition in which the United States Dollar now appears to be used to pay for crude oil in Nigerian rather than the naira.

Falana also lamented that house rent and school fees are now paid in dollars in some parts of the country in what he called ‘dollarisation of the Nigerian economy,’ stressing that the country has no business selling crude oil in dollars.
He pointed out that he has led a campaign against the dollarisation of the economy to the leadership of the Central Bank of Nigeria who have promised to address the situation but have been unable to do so.

Falana was speaking as a guest on Channels Television’s Politics Today on Monday, even as he faulted the position of Nigeria amid the quest by the BRICS countries and others to introduce an international currency to challenge the dollar.
“Along our campaign (against dollarization of the economy), the world is moving. The BRICS is now campaigning that it is going to have an international currency to challenge the dollar. About 24 countries have applied to join the body in their next summit that will take place in South Africa. I am simply asking, what is the position of Nigeria?

Human rights activist and legal luminary, Femi Falana (SAN) has denounced the Nigerian government for creating the condition in which the United States Dollar now appears to be used to pay for crude oil in Nigerian rather than the naira.

Falana also lamented that house rent and school fees are now paid in dollars in some parts of the country in what he called ‘dollarisation of the Nigerian economy,’ stressing that the country has no business selling crude oil in dollars.
He pointed out that he has led a campaign against the dollarisation of the economy to the leadership of the Central Bank of Nigeria who have promised to address the situation but have been unable to do so.

Falana was speaking as a guest on Channels Television’s Politics Today on Monday, even as he faulted the position of Nigeria amid the quest by the BRICS countries and others to introduce an international currency to challenge the dollar.
“Along our campaign (against dollarization of the economy), the world is moving. The BRICS is now campaigning that it is going to have an international currency to challenge the dollar. About 24 countries have applied to join the body in their next summit that will take place in South Africa. I am simply asking, what is the position of Nigeria? (Leadership)

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