The Oluwo of Iwo, Oba Abdulrosheed Adewale Akanbi, has appealed to Nigerians to convert the dollars in their possession to Naira.
The Osun monarch who challenged Nigerians to demonstrate patriotism, blamed the exchange rate crisis on Nigerians hoarding the foreign currency.
Akanbi who made this call in a statement by his spokesman, Alli Ibraheem on Saturday, also disclosed that the availability of dollar in the market will reduce the exchange rate and ultimately checkmate inflation hitting hard on Nigerians.
Stating that dollar hoarders are part of those frustrating the economy, he asked them to be wary of posterity noting that most rich Nigerians are culpable.
He also appealed to them to save Nigeria by disposing dollars in their possession.
The statement reads, “I am appealing to Nigerians most especially the wealthy individual hoarding dollars to demonstrate patriotism by selling and convert foreign currency in their possession to Naira.
“Dollar hoarders have created artificial scarcity, thus leading to high exchange rate and ultimately lead to inflation.
“Pumping the hoarded dollars in circulation will lubricate our economy and decimate the hardship on innocent masses.
“As I speak, I have emptied my dollar account. We can only get there if we are ready to sacrifice by jettisoning selfish economic policies capable of suffocating our survival.
“Nigerians are equally enjoined to patronise made in Nigeria products. I have taken that lead among the traditional rulers. I was the first Nigerian monarch to buy a made in Nigeria Innoson vehicle. My wears most especially the ‘Ofi’ are hundred percent made in Nigeria. With public enlightenment on patronage of Nigerian goods, we can have a more prospering and friendly economy.”
