Economic and Financial experts have warned President Muhammad Buhari not to listen to calls by some key ministers and politicians in the country to float the naira, saying that the move could jeopardize the efforts of the government to pull the economy out of recession.
The experts said that those who are pushing for such economic policy are indirectly asking for the collapse of the President Buhari’s government.
“If you float the naira, the economy will crumble. It is as simple as that. If we float the naira, Nigeria will take a flight to Zimbabwe via Venezuela. There is no way the government can withstand the stress.
“The pressure on the government would be too much that it will just crumble. This will create enough fertile ground for the impeachment process of the Buhari led government. I believe those pushing for such economic policy are not friends of the president. They are fifth columnists who want the government to fall,” one of the experts said on condition of anonymity,” one of the experts cautioned.
This is even as another one said: “those that are pushing the CBN to float the naira have an agenda. They want the naira to fall to say, N1000 to a dollar so that they would buy off every available assets in the country and turn Nigeria into a private enterprise. It is unfortunate and Nigerians must resist this move.”
The economic analysts also attributed the continuous slide of the naira against major foreign currencies to the huge amount of illegally acquired monies in circulation in the country even as they called on the Federal Government to deploy high intelligence strategies to recover such monies from private individuals in the country.
“No economic magic can solve this problem, even the best economic policies in the world will fail under the present realities in Nigeria. No magic banker in the world can restore the naira unless corruption money is curtailed,” the source said adding that “corruption money is the root of the Forex crisis in the country. If you raid the homes of 2000 top Nigerians today, the naira will appreciate overnight. The naira will exchange for less than N200,” one of the sources said.
The source lamented the craze for ill-gotten wealth in the Nigerian society, saying: “there is hardly any influential person in this country today that does not have money stashed in their homes or private property. Government must adopt a strategy to recover these monies otherwise we won’t be able to achieve anything tangible.” [myad]
