"2 Heads Still Better Than 1?," Apostle Suleman Drags Naira in The Mud Over Dollar Exchange Rate
- The Nigerian naira has been compared against the United States of America's dollar by popular cleric
- Apostle Johnson Suleman comparing the heads of notable individuals on the $100 bill and the N1,000 notes queried the importance of having two heads on a note
- The apostle's reaction followed the growing increase between the naira and dollar exchange rate in the parallel market
The president of Omega Fire Ministries Worldwide, Apostle Johnson Suleman has thrown a swipe that the crashing value of the Nigerian naira.
In a tweet made on Friday, November 4, the fiery preacher compared the value of the naira to the dollar and also some of the features of the two currencies.
Source: UGC
In his tweet, Suleman wondered why anyone still believes in the popular saying that "two heads are better than one".
The preacher's tweet followed a pictorial analysis of the photos of Alhaji Aliyu Mai-Bornu, the first indigenous governor of the Central Bank of Nigeria and Dr Clement Isong - Alhaji Aliyu's predecessor which is characteristic of the Nigerian N1,000.
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He tweeted this while embedding a photo of the two notes lying side-by-side:
"And someone still believes in ‘2heads is better than one’?Mtcheeew.."
This is compared to the picture of Benjamin Franklin, who served as the 6th President of Pennsylvania among other positions, on the $100 bill.
The exchange rate between the naira and the dollar has continued to elicit reactions from many economists and Nigerians from all walks of life.
In the black market, the naira is exchanging at N855 per dollar as of Friday, November 4, as compared to the official bank rate which is N439.38 per dollar.
Analyst reacts to redesigning of the Naira
Jude Ifeanyichukwu, a consultant financial analyst accused the current administration led by president Muhamamdu Buhari of being against the people.
Ifeanyichukwu alleged that the Federal Government is not running a people-based governance system and as such should work towards redressing its steps in terms of financial policies and decisions over the nation's economy.
He said:
"Every action or policy the CBN has taken since 2015 is against the people they have been called to serve. Go and study other nations' financial policies and economies, this is not how to grow an economy.
"What is the esseence of redesigning the naira at this critical time when Nigeria is running into trillions of debt in dollars for that matter?
"The question, you should ask is how much will be spent to redesign N200? would you use say for instance, N5,000 to design every N200 note?"
Planning to 'Japa'? FG reels out moves to discourage Nigerians from relocating abroad
The increased migration of Nigerians to foreign countries appears not to be sitting well with the Federal Government.
The minister of state for science, technology and innovation said collaboration is needed to make Nigeria and Africa a tech hub.
Henry Ikoh also said that with the right strategies, Nigeria is a contributory factor in making the world a global village.
The ‘Japa’ syndrome and how it is affecting Nigeria’s economy
The 'Japa' trend has seen Nigeria lose a lot of skilled workers to the labour markets of the United Kingdom, the United States, Canada, the Netherlands and Australia.
The emigration of qualified professionals has a far more damaging impact on Nigeria and sectors of the economy on a large scale.
Many who are today caught up in the 'Japa' syndrome say they have lost hope in Nigeria and believe the country practically has no promises for them.
Source: Legit.ng
