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From Laide Raheem, Abeokuta
A tax and fiscal expert, Gbenga Adeoye, has said that the country’s currency, the Naira, will continue to wobble against the dollars and other top foreign currencies, unless people at the helm of affairs are ready to fight corruption sincerely.
He equally noted that a large chunk of monthly allocations to states were not adequately expended on the provision of needed infrastructures for the people, but rather changed to dollars and kept overseas by some governors.
Adeoye who stated this in a statement at the weekend in Abeokuta, the Ogun State capital, attributed the current economic hardship to a high level of stealing of public funds by people at the helm of affairs in Nigeria.
According to him, “the level of stealing every month in the country can be regarded as greed turned to insanity.
“Allocations to many states are not used to do infrastructure; they just change it to dollar and keep, and that is why Naira has developed a stroke against the dollar. Falling is even better but right now, it is a stroke. We need experts to change this; but if we don’t stop corruption, the Naira will remain on the floor.”
