The Oluwo of Iwoland, Osun State, Oba Abdulrosheed Adewale Akanbi, has disclosed that he has converted all the dollars in his account into naira and asked other Nigerians to do same to save the national currency.
According to the monarch, the availability of dollars in the market would reduce the exchange rate, and ultimately checkmate inflation hitting hard on Nigerians.
He stated that dollar hoarders are parts of those frustrating the economy, asking them to be wary of posterity.
The oba,in a statement through his press secretary, Alli Ibraheem, said those hoarding dollars only ended up creating artificial scarcity,“thus leading to high exchange rates and ultimately to inflation.”
He said:”Pumping the hoarded dollars in circulation will lubricate our economy and decimate the hardship on innocent masses. As I speak, I’ve emptied my dollar account. We can only get there if we are ready to sacrifice by jettisoning selfish economic policies capable of suffocating our survival.
“Nigerians are equally enjoined to patronize made-in-Nigeria products. I’ve taken that lead among the traditional rulers. I was the first Nigerian monarch to buy a made-in-Nigeria Innoson vehicle. My wears, most especially, the ofi are hundred percent made in Nigeria. With public enlightenment on the patronage of Nigerian goods, we can have a more prosperous and friendly economy.” (The Nation)
