The Presidency has assured Nigerians that the Naira will soon appreciate.
President Bola Tinubu’s special adviser on information and strategy, Bayo Onanuga, urged speculators to quickly dump their dollars to avoid “tears.”
Onanuga who posted on social media while reacting to the Central Bank of Nigeria (CBN) disclosure that it had cleared the $7 billion foreign exchange backlog inherited by Governor Yemi Cardoso, said Naira is set to appreciate further.
He wrote: “With backlog FX settled, Naira is set to appreciate further, faster. Currency speculators should quickly dump their stock of dollars to avoid sorrows and tears.”
The Nation had reported that the CBN’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, confirmed the settlement of all valid FX backlog claims.
Ali said the apex bank employed Deloitte Consulting, an independent auditing firm, to meticulously assess the transactions, ensuring that only legitimate claims were honoured.
“Any invalid transactions were referred to the relevant authorities for further investigation,” she stated.
The CBN’s commitment to tackling the FX backlog appears to be paying off, with the external reserves seeing a significant rise, reaching $34.11 billion as of March 7, 2024, the highest level in eight months.
Do you have any information or event for ABUJAPRESS to publish or cover? Kindly Call us on +2349075556668 or send us message on Whatsapp number +2349075556668 or send us an email [email protected]
No comments