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Falana files lawsuit against CBN for floating Naira

by Thomasina Oseye
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Falana files lawsuit against CBN for floating Naira

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Human rights lawyer Femi Falana has filed a lawsuit against the Central Bank of Nigeria (CBN) over the floating of the Naira currency.

Falana argues that the decision to float the Naira is illegal and is challenging it in court.

He points out that there is no provision for floating the Naira in the law and that the CBN Act imposes a duty on the central bank to fix and determine the exchange rate.

Falana further argues that as long as government officials are not prepared to strengthen the Naira and make it the only legal tender in Nigeria, the country will not make progress.

He also criticizes the government’s temporary measures to address the economic crisis, stating that they are diversionary and do not address the root of the problem, which is the dollarization of the economy.

This article was updated 5 months ago

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