Nigeria

Ethnic youth group kicks against call for Naira devaluation

The Nigerian Ethnic Youth Leaders Council (NEYLC), has urged the Central Bank of Nigeria (CBN) to ignore the call for naira devaluation.

The council, which is made up of the Arewa Consultative Youth Movement, Ohanaeze Ndigbo Youth Movement, Oduduwa Youths and Middle Belt Youths, made the call following the assertion by Vice President, Yemi Osinbajo, who on Monday, spoke on the need for proper valuation the naira.

The group in a statement signed by its Ohanaeze Secretary-General and head of the coalition’s Secretariat, Nwada Ike Chiamaka, said, “Rather than suggesting anti-people policy. We are of the opinion that the current economic realities call for concerted efforts by all key actors in the country to revamp the nation’s economy and reposition it for the benefit of all. We urge the CBN to ignore the call and concentrate on its ongoing policies that are geared towards the economic emancipation of the country.

“We urge Professor Osinbajo and other politicians to restrict themselves to their area of competence which is politics and leave economists to run the economy.

“In taking economic decisions that will have an immediate and long-term effect on the nation, political consideration should and must take the backstage.”

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