Market News

By Olayinka Ajayi

The Chairman of the GBS-Alliance for African Economic Development Initiative, Prophet Bola Shonekan, has insisted that Nigeria can reverse the value of the naira to the dollar by bringing NAIRA back to its 1986 value through legislation that has been prepared and possesses US Congressional Copyright through the US Library of Congress.

Shonekan stressed that the GBS-AAEDI has worked out arrangements with the US Federal Reserve Bank of Atlanta, Florida, as a point of outsourcing for the printing of the new African currency that will become the continent’s common currency and will be named “AFRICAN COWRIE.”

Fielding questions from newsmen on Thursday, Shonekan said he has conducted research and development for over 40 years on the path for the economic recovery of Nigeria and Africa.

“The primary aims and objectives of the Alliance for African Economic Development Initiatives (GBS-AAEDI) are for an economic recovery project for Nigeria and Africa to attain economic freedom and independence and self-sustainable growth for the continent of Africa. and to bring self-reliance, better governance, and equitable justice to end the ethnic divides throughout the continent.

“More so, as in breaking the shackles forced on the people of Africa through systemic slavery and racism, complete and total eradication of the colonial influence and oppression of Nigeria and Africa, and providing advanced modern-day industrial development and regaining control of Africa’s mineral resources and future development. Nigeria and Africa have long been overdue for realistic and meaningful development for the proper education of their people, with stressed homegrown influence and not through borrowed ideas propagated by exploiters that stand to gain to the disadvantage of the people of Africa.

“This laudable plan and future plans to be implemented will refuse to accept any foreign currencies for the purchases of all globally essential African mineral resources except her own African cowrie. This will bolster a new and stronger economic relationship with the US government and its US Federal Reserve banks.

“The plan will automatically upgrade the African cowrie to a convertible global currency status and enhance its acceptance as a new and reliable global currency, second only to the US dollar, because of the length of its existence in the global market.

“The crucial point to its success is how best to finance such enthusiastic projects. A technical-working committee of TUUPPEI set up a thirteen-member ADHOC Review Committee to look into how best to assist the nation’s ailing economy, provide a safety net for the free-falling naira, and provide relief for the suffering that besieges the citizens of this great country and Africa at large.”