Falana vs. NIMASA: The Forex Controversy Surrounding UK Properties

Delving into the heated controversy as Femi Falana accuses NIMASA of misusing forex for UK property purchases. Explore both sides of the story.

In an era of growing demand for government transparency, startling allegations can yield far-reaching consequences.

When a human rights lawyer and Senior Advocate of Nigeria, Femi Falana, points a finger at a government agency, the ripples are bound to be felt far and wide.

What if it concerns forex and foreign properties?

The Accusation

Falana’s Bombshell on Live TV
On an otherwise usual day, Falana dropped a sensational claim on Channels Television’s “Sunrise Daily” program. His allegation?

The Nigerian Maritime and Safety Agency (NIMASA) was allegedly using scarce foreign exchange resources to buy up not one, not two, but three properties in the UK.

“NIMASA has just acquired three properties in England under this regime. For what?” Falana asked rhetorically.

The answer, he postulated, was simple and disheartening: “Just to take out dollars.”

A Cry for National Interest

It wasn’t just an expose about the purported property purchases.

For Falana, this was about the nation. “Please, let us run this country in the interest of our people.

We are not a poor country, but the government is managed in such a way that poverty is in ascendency,” he lamented.

The Counter-Narrative

NIMASA’s Swift Response
Barely hours after the claims, NIMASA responded.

The agency’s spokesman, Osagie Edward, minced no words in describing the allegation as false.

Defending the organization, he stated that NIMASA had not only refrained from acquiring property in England, but had also not made any foreign property purchase in over three decades.

So, who are we to believe? An impassioned human rights advocate or a government agency vehemently denying the claims?

A Side Note: Falana vs. CBN

Interestingly, this isn’t Falana’s first rodeo with taking on big establishments.

Previously, he criticized the Central Bank of Nigeria’s (CBN) policy on the float of the naira.

Falana believes that the decision to allow the value of the naira to be determined by market forces lacks legal backing.

As such, he has taken the apex bank to court, challenging the legality of the policy.

“If government officials aren’t prepared to strengthen the naira and make it Nigeria’s sole legal tender,” Falana opined, “we’re not heading in the right direction.”

for more information do follow / piggybank.ng


Who is Femi Falana?

Femi Falana is a human rights lawyer and Senior Advocate of Nigeria.

What exactly did Falana accuse NIMASA of?

Falana accused NIMASA of using foreign exchange to buy three properties in the UK.

How did NIMASA respond to these allegations?

NIMASA, through its spokesman, denied the allegations, stating they haven’t acquired any foreign property in over 30 years.

Has Falana taken on governmental establishments before?

Yes, Falana has previously criticized the Central Bank of Nigeria’s policy on the float of the naira.

What’s the larger impact of this dispute?

The problem highlights transparency, accountability, and efficient resource use.

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