Three major current drains on the Naira

CBN orders banks to collect old N500, N1,000 notes

Below are three major current drains on the Nigerian Naira according to Kingsley Ubani, Media Aide to Senator Uche Ekwunife;

 

Education: More Nigerians are seeking foreign Education for themselves and their children. The standard of education and lingering strikes have further exacerbated this.

 

Healthcare: More Nigerians have lost hope in the Nigerian healthcare system and are buying dollar to spend on medical tourism abroad.

 

Relocation: This is the big one! More Nigerians are requidating their assets in Nigeria to fund their relocation or in the local terms ‘jakpa’ expenses.

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