Femi Falana, a Senior Advocate of Nigeria has come out to speak against the use of naira for some transactions in Nigeria, stating clearly that the economy cannot grow if this continues to happen.
Speaking in an interview on Channels television, Falana noted that selling oil in naira, instead of the dollar will go a long way to boost the economy of the country.
In his own words as seen on Channels television this morning...
"Section 20, subsection 5 says that anybody who is caught spending any other currency in Nigeria, without the approval of the central bank has committed an offence. And the individual in question shall be prosecuted, with the penalty being 6 months in prison. So, you ask yourself, why does the Nigerian government allow properties to be sold in dollar, rents to be paid in dollar, school fees in some schools to be paid in dollar. Everyone is looking for dollars, if I had my way, I would sell oil in Naira. It's ridiculous for you as a country to sell your products dollars and you now have to change dollars to naira."
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