MEMBERS of Association of Senior Civil Servants of Nigeria (ASCSN) have commended President Muhammadu Buhari for not yielding to pressures from financial experts to devalue the Naira, Nigeria’s currency.

Sexretary-General of ASCSN, Alade Bashir Lawal, in a statement said the union “totally agreed with the President that the country being an import dependent one cannot reap anything good from continued devaluation of its currency”.

Explaining further, Lawal said:“We are not exporting anything and will therefore not earn any dividend by allowing our currency to hit the roof top for the fun of it”.

He added: “Devaluation will only succeed in sending more Nigerians into the poverty trap as they would be cut off from being able to afford the good things of life.”

The ASCSN posited that if the Naira was devalued, the workers would be the worst hit as their salaries would further be depleted through the loss of its purchasing value.

According to the union, the President was on the right course by agreeing to look inward in solving the country’s economic problems through the enforcement of monetary regulations to stop financial leakages and also adopting global best practices in generating more revenue to mitigate the effect of dwindling oil prices on the Nigerian economy.

The Union advised all “the pseudo-economists around including those who are agents of the Britton wood institutions to go and look for another work to do and leave the country alone”.

Lawal said: “We have had enough of all their retrogressive ideas that have ended up in making the Dollar exchange for more than N200.
“We do not share the belief that our economy is as bad as the current rate of exchange will want us to believe. The problem is with the greedy few who do not want to let go their selfishness for the overall growth and development of the country.”