Human rights lawyer, Femi Falana, SAN, has urged the federal government to join BRICS, an economic bloc made up of Brazil, Russia, India, China, and South Africa and discard the policies of both the World Bank and the International Monetary Fund.
Falana who spoke in an interview with Channels Television on Tuesday, said to rescue the Nigerian currency, the country must join BRICS to trade with the naira instead of the dollar.
He wondered why the country is not joining BRICS when some countries are making efforts to join the economic bloc, adding that Nigeria should sell its crude oil in naira so that buyers can source for naira to buy the products, which he said will strengthen the naira at the foreign exchange market.
“There are countries in the world today insisting that we are not going to be tied to American dollars, and those countries are in the BRICS – Brazil, Russia, India, China and South Africa,” he said.
“Others are joining them; Saudi Arabia has joined them. UAE, Ethiopia, Egypt, and all that. Nigeria is not there. We cannot be more Catholic than the Pope.
“If friends of the West are joining BRICS, why are we not there? So that we can trade in naira.
“If I had my way, my own radical policy would be that I would sell Nigerian gas and crude oil in naira. Let those who want to buy our products look for naira. That is how to promote your currency.”
Leave a Reply