Lai Omotola, the Group Managing Director of CFL, has asked President Bola Tinubu to sign an executive order banning dollar cash transaction to save the naira from further decrease.

Omotola streesed that several economic policies introduced by the Federal Government and the Central Bank of Nigeria had not saved the local currency from losing its value.

Following the continuous fall of the naira,  CFL director has offer his sincere contributions to the government on how to save the economy for the betterment of the country.

Speaking on the topic ‘How to Save the Naira and Build a Robust Economy’ during a media briefing, the businessman said: “It is not  longer news that our economy is in a insecure state. The binary policy of fuel removal and floating of the naira have resulted in the decrease of our economy. Today, there is a foreign exchange crisis and a food crisis.

“As a business concern that has been in existence for the past 25 years, we have lived 100 per cent of all different administrations.

“To save our naira, we suggest that the President signs an executive order banning all cash dollar transactions across the length and breadth of Nigeria. All dollar transactions should now be bank-to-bank. The maximum cash any citizen and foreigner can hold is 100 dollars. Any amount above this will be automatically surrender to the Federal Government.”