Vice President Kashim Shettima has described those who find amusement in the depreciation of the naira against the dollar as ‘clowns.’
Shettima made this known while speaking at a function in Abuja on Wednesday, January 31.
In the video which was shared by Symfoni, Shettima said, “It is not only disheartening and disenchanting, but also heartbreaking that yesterday when the Naira culminated to N1,500 to the dollar, instead of us to coagulate into a single force and salvage our nation economy, sadly, some clowns are celebrating on Twitter of an impending implosion of the Nigerian economy.”
According to Nairametrics data, the exchange rate between the naira and dollar closed the month of January at N1,455.59 representing a whopping 37.6% depreciation in one month.
The exchange rate closed at the end of December 2023 at a rate of N907.1/$1.
At the black market, the exchange also depreciated going from N1215 to N1470 to the dollar representing a 17.3% depreciation month to date.