Former Secretary General of Commonwealth, Chief Emeka Anyaoku Wednesday advised the Federal Government against official devaluation of naira just as he called for restructuring of the country in order to tackle some of the problems bedevilling the country.
Anyaoku, who was the lead discussant in a symposium titled ‘Curtailing Nigeria’s Centrifugal Forces’ delivered as parts of activities marking the 40th creation of the Ondo State and 7th anniversary of Olusegun Mimiko as governor of the state, argued that official devaluation of naira would worsen the country’s economy and lead to inflation.
Although other discussants, including Afenifere spokesperson, Mr Yinka Odumakin, Senator Ben Murray-Bruce, Sheu Sani, Mr Labaran Maku, Mr Dan Nwanyawu and Yadoma Bukar Mandara expressed different opinions on the devaluation of naira, they, however, all agreeded on the need for restructuring of the country and the adherence to true federalism.
Anyaoku in his remarks advised President Muhammadu Buhari not to cave into the pressure of devaluation of naira as the disadvantages of the policy far outweigh the advantages.
