Vice-President Shettima Raises Concerns as Some Twitter Users Celebrate Nigeria’s Economic Challenges

Vice-President Kashim Shettima has asserted that clowns are jubilant over the impending implosion of Nigeria’s economy, spurred by the recent depreciation of the naira to N1,500 against the dollar.

Addressing the public on Wednesday at the Yar’Adua Centre in Abuja during a discourse on youth, religion, and the fight against corruption, Shettima expressed concern over the alarming economic indicators. On Tuesday, the naira fell to N1,482.57 against the dollar at the official window, surpassing the black market rate of N1,470. This trend continued on Wednesday, with the FX rate breaching the N1,500 mark at the parallel section of the foreign exchange (FX) market.

Shettima, while urging unity among Nigerians to revive the economy, lamented the divisive reactions observed on social media. “Yesterday when the naira plummeted to N1500 to the dollar, instead of us to come into a single force and salvage our economy, sadly, some clowns are celebrating on Twitter of our impending implosion of the Nigerian economy,” he stated.

Despite the challenging economic circumstances, Shettima expressed optimism, stating that the country will rise from the ashes. This follows his previous commitment on January 28, assuring that the federal government will avoid implementing policies with detrimental effects on any region of the country.

In the midst of these developments, the Central Bank of Nigeria (CBN) issued a warning to FX authorized dealers and their customers, emphasizing the need to refrain from disseminating inaccurate and misleading information about their transactions. The apex bank reiterated that all eligible transactions are permitted to access foreign exchange at the official window.