By Chibuike Nwabuko
Abuja (Sundiata Post) – The last man standing “Public-Good-Crusader” and the Labour Party Presidential candidate in the February 2023 general election, Peter Obi has slammed the federal government for arresting Bureau de Change operators over rising dollar value, describing it as primitive and poor understanding of the problems.
Obi who stated this when he took to his X handle on Sunday, called on govermment and its agencies to desist because they are not the problem of the naira fall or dollar rise.
The Spokesperson of the Obidients, Dr Yunusa Tanko disclosed this in a statement made available to Sundiata Post.
According to the LP leader, “The recent reported attacks and disruption of the business activities of Bureaux de Change (BDCs) operators in different urban centers across the country by Government Agencies, are ill-advised and wrongly directed.
“Rather than solve the problem, the action will further escalate and worsen the exchange rate situation
in the country.
“The BDCs are not the primary suppliers of forex nor do they create demand. They only provide a market to sellers and buyers of foreign currency.
They are part and parcel of every economy and can be found even in the developed economies of the world.
“To think that the BDCs are the cause of the declining value of the Naira is a smack on rational economic thinking.
“The only way to shore up the value of our currency is to move the country from consumption to production, especially export-led production, and fight corruption, which allows unproductive money to pursue the available supply of foreign currency.
“As long as Nigeria remains an unproductive economy and corruption continues unfettered with people in possession of unproductive excess cash, the value of our currency will continue to depreciate.
“It’s important therefore that government authorities properly understand the workings of a modern economy and channel their efforts accordingly, and stop ridiculing the nation in the eyes of global economies.
Sundiata Post recalls that Peter Obi last weekend lambasted the Federal Competition and Consumers Protection Commission (FCCPC) for sealing off the popular Sahad Stores Limited located in Area 11, Garki, Abuja, over alleged price disparity between prices on the shelve, stuck piling, extortion, lack of transparency, misleading prices amongst others. He said the decision of the government was not thought-out. The supermarket which was sealed off was opened the next day by the government.
