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A former Deputy Governor of the Central Bank Of Nigeria (CBN), Dr. Obadiah Mailafia, has called on the Federal Government to take measures that will make naira convertible international trading currency.
Mailafia made the call in an interview with the News Agency of Nigeria (NAN) in Abuja yesterday. He recalled that about 40 years ago, naira was accepted abroad for trading and other purposes. “In the 70s, Nigerians were spending naira in London. It was accepted.
“The situation has changed that even in Benin Republic, they don’t accept naira. “We need to restore the purchasing power, the honour and dignity of the naira as our proud currency and the symbol of national honour,’’ he said.
Mailafia, therefore, urged the government to begin the efforts that would shore up the value of the currency so that it could be acceptable internationally in the next decade.
In strengthening the naira, he said vigilan..