Former Nigerian lawmaker, Musiliu Obanikoro, on Friday, said that the problem facing Nigerians is not food scarcity, but the issue of poverty and a lack of purchasing power.
Obanikoro led this out during an interview on Arise Television, criticized the dollarization of the economy, attributing it to the actions of Nigerians and emphasizing the role of banks in facilitating financial misconduct.
Obanikoro said: “All these issues that you’ve spoken about are interwoven, they are all related. Be it security issues with the food. But on the issue, there is scarcity of food in the country now. What we are dealing with is the capacity to purchase. We are dealing with poverty.
“On the issue of scarcity of fund, it seems either deliberately or otherwise, and stupidly too, we have dollarized our economy,” he said as he alleged that it is Nigerians that caused the economy to be dollarized.
READ MORE: Hardship: “No Going Back On Reforms Despite Challenges”- Tinubu Insists
“I cannot but recall, 1997, thereabout, when we had issues with foreign exchange, the military government of that era, were arresting people and bankers to sanitize the foreign exchange regime at that time, I can also recall during the Shagari era, we had the same, almost similar problem that we are facing now.
“Now. Who is the common denominator in all this? The banks. So, you are always quick to say politicians. No politician can siphon money without the connivance of the banks.
“I am telling you they are more culpable than any other sector of our country. They are, and that’s a fact. And there is enough evidence to go around.
“The most important aspect is that we should not unduly cast aspersions on people for a situation that we, as a people, saw coming.”
