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Labour Party Criticizes Tinubu for Dollar Reward to Super Falcons, Calls It a Vote of No Confidence in the Naira

Published by Tope Fakinlede on July 30th, 2025.

Labour Party Criticizes Tinubu for Dollar Reward to Super Falcons, Calls It a Vote of No Confidence in the Naira

The Labour Party, under the leadership of Senator Nenadi Usman, has strongly criticized President Bola Tinubu’s decision to reward the Super Falcons with a cash prize denominated in U.S. dollars rather than in Nigerian Naira.

In a statement released by Ken Asogwa, Senior Special Adviser on Media to the Interim National Chairman, the party condemned the move as a blatant show of disregard for the Nigerian currency and a troubling signal of the administration’s economic priorities.

“The president, who ought to serve as the chief promoter and symbol of confidence in the Naira, has effectively undermined the currency by choosing to issue rewards in dollars,” the statement read. “Witnessing the announcement on national television, where a reward of ‘$100,000’ was offered, was both disappointing and symbolic of this government’s misplaced values.”

The party argued that even if the intention was to provide the Naira equivalent, the optics of publicly citing the amount in foreign currency sends a damaging message — one that appears to elevate the U.S. dollar over Nigeria’s own legal tender.

“This isn’t just about a monetary gift to athletes,” the statement continued. “It’s about the broader message it sends: a president who publicly bypasses the Naira for the dollar essentially signals to citizens and the world that Nigeria’s currency is not worth standing behind.”

The Labour Party also pointed to the continuous depreciation of the Naira under the Tinubu administration, noting that the currency has fallen from around ₦500 to over ₦1,500 against the dollar within a short span, a trend the party attributes to poor policy choices and eroded investor confidence.

According to the party, the World Bank’s recent classification of the Naira as one of the worst-performing currencies in Sub-Saharan Africa — with a reported 43% decline in value this year alone — is further evidence of the government’s failure to protect the country’s economic sovereignty.

“When the presidency normalizes the use of foreign currencies for national incentives, what incentive remains for Nigerians to trust or support their own currency? It sets a dangerous precedent and undermines efforts to revive the economy,” the statement concluded.