Nigerian senator and businessman, Ned Nwoko, has advocated for a ban on dollars as a necessary measure to halt the current economic challenges and inflation.
Nwoko proposed during plenary on Friday that the National Assembly forbid the use of dollars for transactions since Nigeria’s excessive reliance on foreign exchange was hurting the naira and impeding its growth in the global market.
In recent days, the naira has continued to depreciate against, seeing one dollar rise to nearly N2000, thereby driving up the cost of goods and services.
The lawmaker who represents Delta North, said; “We must understand that we have relegated the naira to the background. Everybody is talking about dollars, and the dollar is causing the problem. It might be a difficult thing to contemplate, but what has to be done is that we have to stop the use of dollars in Nigeria.”
However, Nwoko’s suggestion is in conflict of his personal actions as he often gives his sixth wife, popular actress Regina Daniels’ dollars for personal use.
In January 2023, the Nollywood actress revealed that she got $100,000 credit alert from her hubby, days after after she went online to show off the wads of mint naira notes he gifted her
The mother of two said she was on the set of a movie when Nwoko sent the accountant with the money to meet her at the location.
“I can’t believe an alert of $100,000 was sitting pretty in my account since yesterday afternoon, and I’m just discovering this. My husband has lots of mind-blowing doings up his sleeve; mehnnnnn thank you, baby,” Regina had captioned.
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