Former presidential aide to ex-President Muhammadu Buhari, Bashir Ahmad, has linked naira crash to crypto trading.
Taking to X on Wednesday to air his views, Ahmad blamed the naira’s steady slip in the foreign exchange market on Nigerians’ heavy reliance on cryptocurrency platforms.
He expressed concern that many Nigerians rely on crypto platforms that are not responsible for regulating currencies in the country.
He called for immediately address the situation with the view to averting more harm on the currency.
His post reads, “To be honest, the crypto exchange platforms are causing more harm than good to our system. Many people are relying on these platforms that have no business being our forex regulator to get their exchange rates. When the rate goes up on these platforms, it automatically goes up in the Bureau De Change. It should be fixed!” Ahmad wrote.
