Forex Crisis: Tinubu Should Ban Use Of Dollar For Trading – Daniel Bwala

The former campaign spokesperson for the Atiku/Okowa 2023 presidential campaign organization, Daniel Bwala, has asked President Bola Tinubu to ban the use of the dollar for trading in and outside the country.

In a tweet via his official X handle on Wednesday, Bwala said tha the ban, which is a radical approach, will smoke out speculators hoarding dollars in the country.

He also called on President  Tinubu to issue an Executive Order giving a 30-day ultimatum, just like the Egyptian government, to ban the use of the dollar for local and international trading.

According to Bwala, the President should take this bold step in tackling the exchange rate crisis, which has seen the naira crash to an all-time low against the US dollar at the official and parallel foreign exchange markets in recent days, worsening the nation’s forex crisis.

He wrote: “A more radical approach to smoking out the dollar from where ever speculators and hoarders are hiding them is for @officialABA to sign an Executive Order giving 30 days ultimatum within which the Federal Government would officially ban the use of Dollar for trade both locally and internationally, just like Egypt is taking the bold steps in that direction.”