ABUJA—Former Deputy Governor of Central Bank of Nigeria, Obadiah Mailafia, has said the naira, which was accepted in London and Saudi Arabia years ago, was not even now accepted in Benin Republic anymore. In an interview with NAN in Abuja yesterday, Mailafia advised Nigerians against dollarisation of the naira.


Dollarisation is a situation where a country, either officially or unofficially, uses the dollar as its legal tender for conducting transactions, alongside its local currency. He said that dollarisation or using the dollar alongside the naira as legal tender for commercial transactions was illegal and unlawful.

Bunmi Azeez “In the 70s, Nigerians were spending naira in London. It was accepted. In fact, our Muslim brothers used to go to Mecca and Medina that time and they could spend and buy goods with naira,” he said “The situation has changed that even in Benin Republic, they don’t accept naira. If we use other countries’ currencies, it means we don’t value our currency and the value will go down.

Mailafia expressed dissatisfaction over the manner in which some government agencies quote projects in dollars, saying “it is illegal to do so. “Any country that dollarises its economy becomes banana republic of no value or dignity. We need to build a great economy for a country that has honour and dignity in the comity of nations.

“We should also strengthen the naira, give it value; the monetary authority should give it respect to gain the trust of the people of this country


Read more@http://www.nairausd.com/2017/05/naira-once-accepted-in-uk-saudi-but-now.html

FTC,
Buhari see ur life.

Blame Buhari because during Jonathan I could spend Naira in Benin and Accra but during my last trip 90 percent of the Bureau the change in Ghana refused to convert my naira to cedis till I found an EcoBank ATM that accepted my GT card and dispensed Cedis at wicked rates of exchange which changed every time I went back

SalamRushdie:
Blame Buhari because during Jonathan I could spend Naira in Benin and Accra but during my last trip 90 percent of the Bureau the change in Ghana refused to convert my naira to cedis till I found an EcoBank ATM that accepted my GT card and dispensed Cedis at wicked rates of exchange which changed every time I went back

Hmm if Bubu supporters hear this, just prepare yourself for unforeseen circumstances.

Absolutely Buhari nd his apc members were not prepared 4 power.....dey just wanted it....nothing 2 show it......Sometimes I imagine weda dey are ashamed of dem selves nd d 1 dat baffles me d most are d zombies who would come here nd start supporting him...