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I’m of the opinion that CBN should mandate that all domiciliary accounts be closed for 12 months to see its effect on Naira – House of Reps member, Jide Obanikoro

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Amid the continous fall of the Nigerian Naira against international currencies, House of Reps member, Jide Obanikoro has taken to Twitter to share his opinion on what he feels should be done.

According to Jide, the Central Bank of Nigeria should mandate that all domiciliary accounts be closed for 12 months to see its effect on Naira. He also pointed out that one can’t go to any Western country and open a foreign currency account.

He wrote;

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Following reactions to his tweet, Jide stated that he is fully aware that closing all dorm accounts is not the solution to the problem. He averred that the solution is to look inwards and address certain key issues such as local production, exportation and reduction of importation, getting refineries to work again.

The lawmaker also claimed his tweet was aimed at starting a dialogue/conversation for formulation of a bill he is working on.

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