Anytime There Is FAAC Allocation, Dollar Will Go Up Because People Buy Dollar At Any Rate -Sen Ndume



A Senator representing Borno South Senatorial District, Senator Ali Ndume has argued against the claims that Binance and some people within the banking system are the cause of the rise in the dollar rate exchange. He revealed that the dollar tends to rise whenever there is a FAAC allocation [Federation Account Allocation Committee], as individuals scramble to purchase it at any available rate. He advocated for a better realistic approach to addressing the corrupt system that has eaten deep into the Nation.

He said in an interview with Arise TV, ”We have to fight corruption, if we fight corruption effectively, this thing will go. Do you know why the dollar went up? They are beating around the bush going to places and arresting people. Anytime there is FAAC allocation, dollar will go up because people will buy that dollar at any rate. So why don’t you look at the problem holistically and realistically.”

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