The Oluwo of Owo, Oba Abdulrosheed Akanbi, has dared rich Nigerians to show love for their country by selling the dollars they have.
Oba Akanbi, who accused Nigerians of causing the naira-dollar exchange rate to rise by not making enough foreign currency available, claimed that they were holding onto dollars to make it seem like there is not enough.
In a statement from his press secretary, Alli Ibraheem, obtained in Osogbo on Saturday, the monarch also revealed that making more dollars available in the market would lower the exchange rate and prevent inflation.
He said that those holding onto dollars are contributing to the harm being done to the economy and stated that “Many wealthy Nigerians are at fault”, and asked them to protect Nigeria’s economy by getting rid of the dollars they have.
The statement also said, “I am appealing to Nigerians, especially the rich individuals holding onto dollars, to show love for their country by selling and converting their foreign currency to naira.
“Dollar hoarders have made it seem like there is not enough, causing the exchange rates to rise and ultimately resulting in inflation. Putting the stored dollars into circulation will help the economy and reduce the suffering of innocent people.
“I have already emptied my dollar account. We can only succeed if we are willing to give up selfish economic policies that could harm our survival.
“Nigerians are also encouraged to buy goods made in Nigeria. I have done so among the traditional rulers.
