As Nigeria continues to grapple with severe economic challenges, Senior Advocate of Nigeria (SAN), Mike Ozekhome, has issued a dire warning, predicting that the naira could plummet to N4000 against the US dollar by the end of 2024.
Ozekhome emphasized the absence of tangible indicators suggesting a positive trajectory for the naira’s value.
During an appearance on Channels TV’s program, Politics Today, the legal luminary painted a grim picture of Nigeria’s economic future, expressing concerns that the nation could mirror Ghana’s past struggles, where citizens resorted to carrying baskets of cedis to purchase goods.
He questioned the efficacy of Bureau de Change operators (BDCs), highlighting their unconventional presence under trees and tables as they purportedly influence the nation’s economy.
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?”
