Forex Crisis: Rights Activist Alleges State Govs’ Converting Monthly Allocation To Dollars

Idris Etanami Usman, the Executive Director of Cell HUB, a prominent data mining and public relations company, has voiced serious concerns regarding the economic crisis afflicting the nation.

The company’s investigations have reportedly uncovered troubling evidence pointing to the involvement of certain state governors in worsening the dire economic situation.

In a statement released to the press, Usman expressed regret over the situation, emphasizing the need to bring attention to the role of several state governors in Nigeria in exacerbating the current economic crisis. 

The findings suggest a pattern of behavior where these governors have allegedly actively participated in converting state monthly financial allocations from the local currency of Naira to United States dollars.

The statement did not provide specific details about the extent of the alleged conversions or the impact on the economy. However, it signals a growing concern about financial practices that could contribute to economic instability. Further details and evidence regarding these allegations may emerge as the situation unfolds.

“This conversion not only undermines the stability of our national currency, but also raises serious questions about the transparency and accountability of these governors’ actions.”

He said despite receiving substantial financial support from the Federal Government, governors have failed to adequately provide palliatives for citizens who are suffering under the weight of economic hardship. 

“At a time when millions of Nigerians are struggling to make ends meet, the failure of state governors to fulfill their obligations to the people is both reprehensible and inexcusable.

“It is clear that the actions of these governors have contributed significantly to the economic crisis facing our nation. By prioritising personal gain over the well-being of their constituents, they have betrayed the trust placed in them by the Nigerian people. We call upon these governors to be held accountable for their actions and to take immediate steps to rectify the damage they have caused.

“Additionally, we urge the relevant anti-corruption agencies to conduct a thorough investigation into the financial practices of these governors and to ensure that appropriate measures are taken to prevent such misconduct in the future. The people of Nigeria deserve leaders who are committed to serving the public good and upholding the principles of transparency and accountability.

“As a responsible corporate citizen, Cell HUB remains committed to using our resources and expertise to promote transparency and accountability in governance. We will continue to monitor the situation closely and provide updates as necessary,” the statement read.