Aisha Yesufu, a prominent human rights activist, has raised serious concerns about the drastic and unsettling surge in the exchange rate between the US dollar and the Nigerian Naira.

Since the implementation of monetary policy reforms and the adoption of a floating Naira by President Bola Tinubu, the nation has been grappling with an escalating exchange rate. Currently, at the parallel market, one US dollar commands a value of N920….CONTINUE READING

In a video shared on various online platforms, Aisha Yesufu criticized the situation, likening it to escaping a bullet only to be faced with a nuclear explosion. She took aim at government policies responsible for driving the exchange rate up, describing them as disjointed and lacking alignment.

Yesufu emphasized that the prevailing spike in the exchange rate could potentially result in Nigerians having to exchange N2000 for just one US dollar.

In her words, “Life comes at everyone harshly. Some believed they dodged a bullet, but now they are dealing with a nuclear explosion.

The dollar is heading towards N1000. I had just tweeted this before. Given our current trajectory, we might even find ourselves in a situation where the exchange rate reaches N2000 for a dollar.”

She went on to suggest that some individuals might start saying that perhaps the previous administration under President Buhari wasn’t as bad, considering that the evaluation of leadership could be measured based on the exchange rate. Yesufu highlighted a recurring pattern in Nigeria, where appearing competent means ensuring the next leader is even worse.

In her assessment of the nation’s current predicament, Yesufu acknowledged that during the process of nation-building, experiencing hardships might be understandable if they are accompanied by well-defined strategies.

However, she expressed concern when hardships are endured without coherent plans, and policies are enacted haphazardly, ultimately leading to a greater predicament.