Senator Ali Ndume, a senator from the Borno South Senatorial District, has refuted allegations that Binance and some individuals in the banking industry are to blame for the increase in the value of the dollar.
He disclosed that the dollar generally appreciates when there is an FAAC [Federation Account Allocation Committee] allocation because people rush to buy it at whatever rate that is offered. He argued in favor of a more practical strategy for dealing with the crooked system that has permeated the entire country.
He said in an interview with Arise TV, ”We have to fight corruption, if we fight corruption effectively, this thing will go. Do you know why the dollar went up? They are beating around the bush going to places and arresting people.
Anytime there is FAAC allocation, dollar will go up because people will buy that dollar at any rate. So why don’t you look at the problem holistically and realistically.”.
