Lawyer and prominent member of the Labour Party, LP Kenneth Okonkwo has said that dumping borrowed dollars into the Forex market is just a short-term fix for pain. The declaration was made by Okonkwo in a post that he uploaded to his official X account.CONTINUE FULL READING>>>>>
His statement is coming after the Naira began to experience some losses against the Dollar.
In the post that Kenneth Okonkwo shared on his page, he said what sustains the currency of a nation is productivity for self-sufficiency and export.
He said flooding the Forex Market with borrowed dollars by the Central Bank of Nigeria, CBN will allow the Naira to fall helplessly.
He wrote on his page;
“What sustains a nation’s currency is productivity for self-sufficiency and export. Flooding the forex market with borrowed dollars by the CBN is a mere pain reliever that is temporary with the naira falling helplessly later when the borrowed dollars is exhausted”.CONTINUE FULL READING>>>>>
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