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Nigeria’s Naira Almost Valueless in the Global Market, Says Business Mogul Dantata

Business mogul and chairman of Dantata Group, Alhaji Aminu Dantata, has lamented the decline of Nigeria’s currency, the Naira.

He said the currency is now almost valueless in the global market.

According to Leadership, Dantata stated this in Kano while receiving Northern Elders Forum  (NEF) delegation led by Professor Ango Abdullahi who were in Kano Thursday on a condolence visit over the death of former presidential candidate of the defunct National Republican Convention (NRC) in 1993, Alhaji Bashir Tofa.

Dantata expressed dismay over the frequent drop in value of the Nigerian currency, lamenting that “today, the naira has nearly become valueless in the global market. You can see that the rise in prices has everything to do with devaluing the naira.

“Nigeria needs desperate measures to tackle this ugly scenario, because poverty is slowly gaining ground amongst the poorest while those that are trying are getting frustrated by the day,” he said.

He also called for a return to parliamentary system of government in order to save cost.

Dantata said Nigeria should adopt the parliamentary system of government because the presidential system has failed.

He said, “You will agree with me that the presidential system of government has failed the nation. What we need now is a parliamentary system, because the one we are practising is too cumbersome and financially tasking.”

Dantata charged NEF to look at the moral and social decadence in the family system, which led to lack of honesty, corruption and insecurity in the country.

“I think today’s values have gone down so low. People rate money more than our core values and that is why many negative things are happening in the country which require prompt elderly attention,” he said.

Dantata also cautioned Nigerian politicians to shun destructive criticism.

“We are going nowhere with the kind of politics we are seeing today, we must change the narratives if we are to salvage the nation,” he said.

In his remarks, Professor Abdullahi, noted that they were in Kano to condole with the people and government of the state over the demise of Bashir Tofa, Dr Ibrahim Datti Ahmad, Sani Dangote and Ado Gwaram former secretary to the state government (SSG) who have just passed away and prayed for the repose of their souls.

Featured Image Credit: Aminu Dantata | @BashirAhmaad/Twitter


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Copyright 2022 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to and other relevant sources.

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