Like other discourses, Nigeria’s currency – naira – trended on social media Wednesday, March 24, 2021, after UK-Based Nigerian, Ogbeni Dipo, opined that the naira is not ‘useless’ but only ‘weak’.

As at today, the currency rate for a dollar to naira is ₦ 380.5193, one pound converts to ₦ 521.111522. One wonders which among ‘useless’ or ‘weak’ is the most appropriate word, and it is this dilemma that informed conversations on Twitter Nigeria today.

Nigerians debated the naira’s position when placed side by side with other currencies of the world. In another chapter of the conversation, Dipo was called out for using convenient words to sell the Buhari administration in a positive light, knowing he is not suffering the same fate as Nigerians living in Nigeria.

For many, it’s the audacity – a case of a Nigerian living abroad, yet exercising authority on financial matters in Nigeria.

You may argue that Dipo may not be totally wrong when you look at it using relative terms. For instance, some argue that Nigerians still use the naira for transactions, still survive on it and still receive payments in naira. But, when you consider that ₦100,000 may not exactly buy you as much as you want when you convert to dollars or pounds, you may rethink your stance.

Yet, we cannot call the currency of the self-proclaimed giant of Africa useless.

Michael Isaac

Michael is a dynamic writer who is still exploring the nuances of life and being human. When I’m not writing, I’m out with friends or spending nice time alone watching movies or TV Shows.
Michael is available on Twitter and Instagram @TheMichaelFaya