”If we are not careful, the Naira may exchange for N4000 to the dollar because there is nothing in place” – Mike Ozekhome

Senior Advocate of Nigeria (SAN) Mike Ozekhome has issued a cautionary prediction, suggesting that the Nigerian currency, the naira, could potentially depreciate to N4000 against the United States dollar by the conclusion of 2024.

Ozekhome elaborated that the existing circumstances offer no indication of a forthcoming improvement in the naira’s exchange rate against the dollar. These remarks were made during his appearance on the Channels TV program “Politics Today” aired on Tuesday.

He said: “Before the end of this year, if we are not careful, the Naira may exchange for N4000 to the dollar because there is nothing in place.

”If we are not careful we will get to the situation in Ghana, where they were carrying cedis in baskets to the market to go and buy things and put in their pockets.

”Why do BDCs sit under the trees and tables to control our economy?”