Sunday , October 1 2023

Crude Oil Buyers Should Pay In Naira – Femi Falana

Human rights lawyer, Femi Falana, SAN, has condemned what he described as the dollarization of the Nigerian economy, adding that the country has no business selling crude oil in dollars.

Falana said 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.

The Human Rights Lawyer was speaking as a guest on a satellite television current affairs programme where he also questioned the position of Nigeria amid the quest by some countries to introduce an international currency to challenge the dollar.

He insisted that Nigeria has not no business selling its oil, gas, and other products in dollars, as the government is supposed to ask the buyers to pay in naira in order to shore up the value of the Naira.

Falana said there is a need to draw examples from Russia, China, India, and others who are currently selling in their local currency.

He condemned the central bank for taking advice from the IMF and the World Bank as the bodies believe that the naira is overvalued.

He also lamented that house rent and school fees are now paid in dollars in some parts of the country.

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