Femi Falana, a senior lawyer in Nigeria, claims that the dollarization of the economy will destroy whatever minimum wage the NLC and TUC propose. In an interview with Channels Tv News, he stated that one of the demands Labour ought to make of the government is for the naira to be strengthened.
He said, ”What I am saying is that as long as you continue to dollarize the economy, it will affect the value of the naira. And I have this discussion with the NLC and TUC, I have told them whatever they ask as minimum wage will be destroyed by dollarization. So in their struggle, they must also ask that the naira should be respected by the government.
That the naira should be saved by the government. The people in Abuja must sit down and say what are the goods that are produced in Nigeria for which we do not need to look for dollars? Can we stop people from collecting rent in dollars and selling properties in dollars? We have a situation where the government has to find out, what are we using dollars for?”
