The Chairman of Jaiz Bank Plc, Umaru Mutallab has stated that the on-going crisis rocking the foreign exchange market was as a result of the billions of Dollars expended to import refined fuel products to sustain the economy.
He told participants at the Daily Trust Board of Economists Breakfast Meeting held on Thursday, February 25, that in addition to that Nigeria,uses huge forex to import food items and most of the consumer goods which led to enormous pressure on the naira.
Mutallab called for the development of agriculture to help in the production of foods that can substitute for imports.
On security, he advised that all offices and residential areas should be properly marked and identified to help keep track of criminals and insurgents that may constitute a threat to the peace of the society.
