The Nigerian legislature suggests the closure of all domicile accounts to save the endangered Naira to Twittersmash
The Nigerian legislature suggests the closure of all domicile accounts to save the endangered Naira to Twittersmash
The Nigerian legislator Ibrahim Obanikoro has asked the Nigerian authorities to "close all domicile accounts for the next 12 months". Such a step, he argues, will help reduce the pressure on the Naira, which has devalued more than 10 % in the past two months.
The persistent impairment of the Naira
The call from Obanicoro comes almost two weeks after threats to the governor of the central bank of Nigeria (CBN). forced to publish the black market exchange courses of the Naira. But even after the employment of the service, the Naira continues to lose value.
This persistent devaluation in turn forced interest groups such as Obanikoro to suggest even more unconventional and more controversial solutions.
But in his September 28th twitter justified Obanikoro that other countries of Nigerians would never allow one To open naira account. The legislator said:
I am not the central bank of Nigeria [CBN] governor, but at the moment I think that CBN should order that all dormitory accounts are closed for the next 12 months. Let's look at the effect on the Naira. After all, you cannot go to a western world and open a foreign currency account. Your opinion.
proposal of the legislator questioned
As expected, Obanicoros of controversial call caused an immediate reaction from some Twitter users. For example in his Answer At the proposal of the legislator, an account called "Cryptocurrency Thought Leader" Bitcoin brings into the discussion and says: "Satoshi looked through the story and decided to create this Alternative for us." The user ends his answer with the prediction that the decline of the Naira to 1 USD for each 1000 NGN will "pass faster than I have predicted".
Another user, Orisha, welcomes the legislator's willingness to solve the continued devaluation of the state currency, warns against closing domicile accounts. The user called :
"This idea can work, but you cannot simply close the cathedral account of the people, but only to instruct them, let's all of their dollars within, say, a maximum of 4 months from the account. Will the elites of the north and the Naija allow you to destroy banks and exchange offices? [BDC]?"
Nevertheless, other users have asked Obanicoro to pay attention to factors that have led to the Naira lost in value and not on the accounts.
Do you agree to the Nigerian legislature's proposal? Tell us your opinion in the comment area below.
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