Labour Party has described as “utterly shameful” the announcement by President Bola Tinubu, to reward the victorious Super Falcons in the US Dollars instead of the Nigerian naira.
A statement on Tuesday by Ken Asogwa, Senior Special Adviser, Media, to Senator Nenadi Usman, Interim National Chairman, Labour Party regretted that “the nation’s foremost custodian and presumed chief ambassador of the Nigerian Naira, chose to reward our gallant Super Falcons in United States dollars.”
The statement explained “Watching the president, on national television, announce that the victorious Super Falcons would receive financial rewards “equivalent to $100,000” was not only nauseating but deeply unpatriotic.
“Even if, as some may argue, he meant the Naira equivalent, the symbolic elevation of the dollar over our national currency by the Commander-in-Chief is a damning indictment of his administration’s economic mindset.
“This act speaks volumes about the level of disdain and lack of faith this government has in the Naira – the very symbol of our economic sovereignty. Perhaps, at this rate, we should expect the national budget to soon be presented in dollars, or worse still, in a basket of foreign currencies.
“The Tinubu administration, having supervised the free fall of the Naira – from an already precarious N500 to over N1,500 to the dollar – appears to have thrown in the towel.
“A president who openly shies away from promoting his national currency sends a dangerous message to the world and to his citizens: that the Naira is not worth defending.
“It is no surprise, therefore, that the World Bank, in its latest review, listed the Naira among the worst-performing currencies in Sub-Saharan Africa – depreciating by approximately 43% year-to-date.
“This has been attributed to surging demand for the US dollar and an eroded confidence in the Naira, the actual practice the president has been busy abetting.
When the highest office in the land sets such a tone, what moral ground do we stand on to call on others to have faith in our currency? If this is not patriotism in reverse, then what is?”
