Thursday, February 11, 2016 2:53 pm
The Muslim League for Accountability (MULAC) on Thursday urged President Muhammad Buhari to convene a summit of financial and economic experts to proffer solution to the depreciation of the naira.
The country’s currency slumped to N318 to a dollar on Wednesday, at the black market, its lowest level ever. The official rate remains N197.
The Executive Director of MULAC, Malam Yusuf Arrigasiyyu, told the News Agency of Nigeria (NAN) in Kaduna that many Nigerians were seriously disturbed about the continued depreciation of the Nigerian currency.
Arrigasiyyu said that the convening the summit of economic and financial experts on the Nigerian economy would provide a platform for stakeholders to rub minds and proffer solutions to stop the naira slide.
He said that the rate at which the naira was depreciating was unacceptable.
“We are seriously disturbed with the current economic situation of the country, specifically the continued depreciation of the Nigerian currency, “the naira”. We are afraid that if urgent step is not taken, Nigerians will be subjected to unnecessary and untold hardships.
“We commend President Buhari’s efforts in the fight against corruption and call on all Nigerians to give him the necessary support.
“Corruption is evil, we must not support it; rather it is condemnable,’’ the MULAC director said.