“The naira is moving to N500 per dollar”

monjola sotubo

September 15, 2016 11:32 AM

Obiano also said that any state that doesn’t pay its workers in these times is looking for trouble.

Governor of Anambra state, Dr Willie Obiano.

Obiano also said that any state that doesn’t pay its workers in these hard times is looking for trouble.

The governor made the comments on Wednesday, September 14, during the launch of the Anambra State Fire and Safety Summit in Awka, Punch reports.

“A state that does not pay its workers is inviting calamity. Payment of workers’ salaries energizes the economy. We saw this recession early and made agriculture one of the pillars of our administration," he said.

“This is why we have been paying our workers. It is wicked to owe workers at a time like this. People should embrace risk management. That is the solution to disaster, especially in a recession.

“No recession lasts less than 18 months, so we need to wake up. The naira is moving to N500 per dollar. We need to secure our certificates and other valuables of ours so that nothing will happen to them overnight. That’s the way to survive in a recession,” he added.

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The value of the naira against the dollar has fallen to record lows in recent times and Finance Minister, Kemi Adeosun has said that Nigeria is “technically” in a recession.

monjola sotubo