Solanke decries naira devaluation, charges WIMBIZ to leverage legacy to save Nigeria
By Felicia Nwosu
Folake Solanke (SAN) has decried the incessant devaluation of the Nigerian naira, while calling on Women in Management, Business and Public Service (WIMBIZ) to leverage its various top positions to engage the Central Bank of Nigeria (CBN) governor in stopping the naira from sinking further.
Mrs. Solanke, who keynoted the 20th WIMBIZ Annual Conference, tagged: “Celebrating Legacy”, recalled how valuable the country’s currency was many years ago, while attributing the devaluation effect to policies such as Structural Adjustment Programme (SAP), and that of other global financial institutions. The octogenarian stated this during her lecture at the day-one of the association’s conference.
The legal professional, while focusing on the theme, pinned her submission on how WIMBIZ can continue to build a humane future legacy, having accomplished two decades successfully and sustainably well. Describing the 20th anniversary as a phenomenal event, Mrs. Solanke commended WIMBIZ for her corporate achievement in the last 20 years, especially for her Big Sister Program introduced to empower young girls in various aspects of life. She eulogized the women, most especially Ifeyinwa Ighodalo, the association’s Chairman, Board of Trustees for her immense contribution towards the association and the society at large.
“About five decades ago, the naira was as strong as the dollar, and at par with the pounds sterling, but unfortunately, the naira is now 500 to a dollar. Structural Adjustment Programme, SAP, International Monetary Fund (IMF) and its cousin, World Bbank, started naira descent. People are dying of hunger because of astronomical cost of food Items. WIMBIZ should device a strategy to raise a public alarm and awareness, against a further devaluation of the naira and project an advocate for the restoration of the naira to a reasonable exchange rate. It is possible.”
She added: “I recommend that WIMBIZ should create a public jingle on radio, media and everywhere, with the campaign “Stop the Naira Crash”, this calamity is disastrous for the country. WIMBIZ should engage CBN Governor to stop the naira from further hemorrhage; the naira is bleeding, stop the bleeding on the naira. Provide experts among your members, I urge you all to be involved,” Mrs. Solanke admonished.
“I want to congratulate you for all you have done in the past 20 years. Please, applaud yourselves. There is a saying that, if you don’t blow your own trumpet, someone else may play the wrong note for you. Hasten to blow your own trumpet; WIMBIZ is an association of very talented people in business, profession public service. I believe one of your success stories is your big theme project, the ‘Big Sister Program whereby you talk to young girls to motivate them to follow your corporate footsteps in achievement. I am also elated that you have added public service to your original name.”
She called on the women to use their various professional positions to bring a positive change to the various challenges confronting the country presently, adding that the country is going through a very perilous time.
Her words: “We are tormented as a nation with heinous calamities such adoption, kidnapping, banditry, murder, arson, rape and many more. These are hideous crimes which should attract punishments.”
The legal luminary expressed concern over the huge sums of money paid by victims of kidnapping while the culprits who are supposed to rot in jail engage in spending spree. She discouraged Nigerians from paying ransom to enrich the unscrupulous elements, thereby allowing crime to become a lucrative business for the criminals.
The author of ‘Reaching for the Stars’, described various challenges bedeviling the country as ‘adversity upon adversity, woes and calamities.’
The first female Senior Advocate of Nigeria also expressed great concern over how Nigerian professionals in various fields, after investing in human development, are leaving the country for greener pastures. She called for a total stop to the brain-drain of the nation’s professionals so as to enjoy their expertise.
The pioneer in many fields did not spare the challenge of insecurity. Naming it as calamity four, she implored the association to ensure all hands are on deck to nip the ugly situation in the bud.
“We all know that the level of insecurity in the country is outrageously lamentable, your association should raise a voice in utter condemnation of this.”
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