Home Economy Forex crisis: Some State govs converting monthly allocations to dollars—Activist

Forex crisis: Some State govs converting monthly allocations to dollars—Activist

by Business News Report

Executive Director of Cell HUB, a leading data mining and public relations company, Idris Etanami Usman, has expressed grave concerns over the economic crisis plaguing the nation, alleging that some state governors were converting their monthly allocations into dollars. He said his agency has uncovered alarming evidences pointing towards the complicity of certain state governors in exacerbating the dire situation. In a statement made available to journalists Thursday in Abuja, Usman said; “it is regrettable and we must highlight the role of several state governors in Nigeria in exacerbating the current economic crisis. Findings reveal a pattern of behaviour wherein these governors have actively engaged in the conversion of state monthly financial allocations from the local currency of Naira to United States dollars. 

“This conversion not only undermines the stability of our national currency, but also raises serious questions about the transparency and accountability of these governors’ actions.” He said despite receiving substantial financial support from the Federal Government, governors have failed to adequately provide palliatives for citizens who are suffering under the weight of economic hardship. At a time when millions of Nigerians are struggling to make ends meet, the failure of state governors to fulfill their obligations to the people is both reprehensible and inexcusable. It is clear that the actions of these governors have contributed significantly to the economic crisis facing our nation. By prioritising personal gain over the well-being of their constituents, they have betrayed the trust placed in them by the Nigerian people. We call upon these governors to be held accountable for their actions and to take immediate steps to rectify the damage they have caused.

“Additionally, we urge the relevant anti-corruption agencies to conduct a thorough investigation into the financial practices of these governors and to ensure that appropriate measures are taken to prevent such misconduct in the future. The people of Nigeria deserve leaders who are committed to serving the public good and upholding the principles of transparency and accountability. As a responsible corporate citizen, Cell HUB remains committed to using our resources and expertise to promote transparency and accountability in governance. We will continue to monitor the situation closely and provide updates as necessary,” the statement added.

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