Institute of Chartered Accountants of Nigeria, ICAN, yesterday, moved against the devaluation of the naira, saying those asking for it were not sincere as devaluation would create more problems for the country.
Jos District ICAN Chairman, Mr. Pam Gyang, who spoke with journalists at the “Catch Them Young” programme organized by the District alongside ICAN national body to sensitize school children on the need to have interest in the accounting profession, pleaded with Nigerians to be patient until the dollar stabilizes.
“Accountants are disciplined people; we abhor corruption so we support the fight against it but the economy is backward. We have been advising government but politics override our advice. What we failed to do in the past is affecting us today. We need to diversify the economy. No country survives without borrowing. We can borrow but we should not devalue the naira. We should not be in a hurry to devalue the naira because we are not exporting anything.
“Devaluing the naira will create more problems for us. We should be patience and not behave as if without dollars we can’t live, when we have patience, the dollar will stabilize,” Gyang said.