Ooni of Ife Canvasses Clampdown on Hoarders of Dollars amidst Falling Naira Exchange Rate
The Ooni of Ife, Oba Enitan Ogunwusi, has asked Federal Government to go after those hoarding foreign exchange, amidst the falling exchange rate of the naira.
The monarch also calls for a clampdown on banks, hoarding dollar and other foreign currencies.
The traditional ruler made the call during the graduation of 150 women tricycles held at his palace in Ile Ife
According to the Ooni, the hoarding of dollar must end because the naira, and not the dollar is Nigeria’s legal tender.
He also called on Nigerians and governments to patronize made in Nigeria products to reduce the rising demand for dollar in the foreign exchange market.
The scramble for dollar in the country, has shoot up the naira exchange rate in the parallel foreign exchange market to above N1,000 to a dollar as at last Friday.
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“I implore the government to be very strict. They should go after people keeping dollars, even in their local banks. It doesn’t make any sense because that is not the legal tender of our nation.
“Government should promote initiatives like this (adire). These are home-made goods, 100 per cent made with naira. Our leaders should do more. They should wear Nigeria, they should talk Nigeria, they should reason Nigeria.”
Speaking on the Queen Riders Initiative, a wife of the monarch, Queen Ronke Ogunwusi, said the women had completed their training, adding that the participants would be assisted to own a tricycle and pay back in instalments.
She said, “We have done our research and we are aware that after making their hire purchase payment, on daily a basis, they can still take home up to N7,000.
“If we are to quantify it, the empowerment will run into millions of naira, but we offered the training for free with the help of TVS Simba Group in collaboration with the Ooni of Ife’s Queen Moremi Ajasoro Initiative, which is at the forefront of promoting everything that has to do with women empowerment.”
