Experts Say De-dollarising Economy Will Halt Naira Free Fall

Amid rising free fall of the Naira both at the official Nigerian Foreign Exchange Market (NAFEM) and the unofficial market, financial experts have called on

the Central Bank of Nigeria , to de-dollarise the economy by declaring any local transactions in US dollars illegal.

Adedipe said: “CBN should deal transparently with participating banks at the I&E Window. De-dollarise the economy by declaring as illegal any local transactions in US dollars and ensure that government agencies stop charging local operators and entities in US dollars .“Other suggestions include the need to ensure that the sale of crude oil to local refineries should be made in Naira rather than dollar.

Also speaking, the chief executive officer, Centre for the Promotion of Private Enterprise , Dr Muda Yusuf, said there is no silver bullet in the treatment of the current fate of the naira.

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