Human rights lawyer, Femi Falana, SAN, has raised concern over the growing trend of dollarisation in Nigeria, lamenting that even bribes are now being transacted in foreign currency.
Falana spoke on Sunday while featuring on Politics Today, a Channels Television programme, where he warned that the continued sidelining of the naira posed serious risks to the nation’s economy.
According to him, the rejection of the naira and preference for the dollar in routine transactions not only undermines the country’s sovereignty but also contravenes existing laws.
“The president was announcing gifts to footballers in dollars, not naira. It has to stop. We must promote the naira, not the dollar. As a matter of fact, it is a criminal offence to reject the naira,” Falana said.
The senior advocate stressed the need for strict enforcement of regulations against dollarisation, noting that it was now common to see payments for fees and properties demanded in dollars.
He maintained that such practices, if left unchecked, would continue to weaken confidence in Nigeria’s legal tender and encourage corruption.
“We need to stop paying fees and buying properties in dollars,” Falana added, calling on policymakers and regulators to urgently safeguard the integrity of the naira.
