Ayo Oyalowo Drops Bombshell, Unveils Two Major Causes Of Naira’s Fall

Best News Network  > Politics >  Ayo Oyalowo Drops Bombshell, Unveils Two Major Causes Of Naira’s Fall
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Ayo Oyalowo, a political economist and member of the All Progressives Congress (APC), has accused a few people of trying to destroy Nigeria’s economy.

In an exclusive interview with Seun Okinbaloye of Channels Television, Oyalowo said that some Nigerian banks are sitting on over $7 billion and refusing to sell, causing the Naira to fall and making it difficult for people to access forex for legitimate transactions.

Oyalowo also mentioned the impact of Binance, a cryptocurrency exchange platform, on the value of the Naira. He claimed that Binance’s speculative activities have caused the Naira to fluctuate rapidly, with its value shifting from ₦1700 to ₦1800 within one hour.

The political economist called for urgent action to address the situation, stating that the country is in an unfortunate position as a few people have made up their minds to pull it down.

He urged those in charge of the country’s affairs to take simple steps to solve the problem and prevent further damage to the economy.

Nigerian Banks Refuse to Sell $7 Billion, Contributing to Naira Fall, Says Ayo Oyalowo


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