Following the embarrassing exchange rate of the Naira against the US Dollar, a call has been made for less dependence on the US Dollar in the domestic evonof Nigeria.
The senator representing Abia North at the National Assembly, Orji Uzor Kalu made this call Friday during the interactive session organized by joint session. of the Senate committees on Finance, Appropriation, Banking and Finance and other financial institutions, and called for minimization in the US Dollar in Nigerian shops, hotels and any other places, urging the country to make it an abomination.
“Nobody should use the Dollar for any transaction in Nigeria. Nobody should be seen transacting with it”, Kalu suggested.
Senators had during the session, grilled the Central Bank of Nigeria, CBN governor alongside the other economic team if President Bola Ahmed Tinubu over Nigeria poor economy and the diminishing rate of the Nigeria currency, the naira against the US Dollar which currently stands above N1500/$.
During the interactive session, the CBN governor, Olayemi Cardoso had called on Nigerians to reduce their appetite for the US Dollar and the quest for foreign goods stating that CBN has no magic wand to turn around the fortune if the economy and the country’s currency except the moderation in the demand for the American Dollar.
Kalu regretted that senators are facing their constituents who are shouting, thinking that the senators are the cause of the economic problems and urged the CBN governor to state the efforts he has made to identify and bring to book those who forged documents over the $2.7b.
“Who are the Nigerians that forged that documents? You must bring them to book. People are attacking us”, Kalu said.
The drastic fall of the naira against the US Dollar has resulted to food scarcity in the country.
