The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has called on the Nigerian government to take action against individuals who hoard Dollars. He made this plea during the graduation ceremony of 150 women tricycle riders, which coincided with an exhibition showcasing South-West adire makers.
Oba Ogunwusi also encouraged Nigerians to support locally-made fabrics, specifically adire, instead of buying foreign ones. This, he believes, will help strengthen the value of the Nigerian currency, the naira. The Ooni’s call comes at a time when the naira’s value has been declining in the foreign exchange market.
The Ooni emphasized the need for Nigerians to reduce their reliance on imported goods in order to protect the value of the naira. He questioned the necessity of using dollars for everyday transactions when the legal tender in Nigeria is the naira. He urged the government to take strict measures against those who hoard dollars, even if they keep them in local banks.
In his own words, the Ooni said, “Honestly, we are the problem in this country. Why do we need dollars? Our currency is the naira, and we should use it to buy things. Putting pressure on the dollar doesn’t make sense. I implore the government to take decisive action against those hoarding dollars.”
The Ooni also expressed his delight at the exhibition showcasing local fabrics like adire. He called on the government to actively support initiatives that promote Nigerian-made products. By doing so, he believes that the demand for foreign currency, such as the dollar, will decrease.
He further stated, “Our leaders should lead by example. They should proudly wear and promote Nigerian products. Let us prioritize our own country.”