The Presidency has warned forex speculators 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 was reacting to the Central Bank of Nigeria, CBN, disclosure that it had cleared the $7 billion foreign exchange backlog inherited by Governor Yemi Cardoso.
In a statement on Wednesday, CBN’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, confirmed the settlement of all valid FX backlog claims.
Reacting, Onanuga posted on X, “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.
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