JUST IN: See Tinubu Government Prediction on Naira to Dollar Exchange Rate

In recent statements, Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, has offered a fresh prediction regarding the trajectory of the naira to dollar exchange rate in the upcoming weeks....READ FULL ARTICLE

Onanuga expressed confidence in the naira’s strengthening position against the dollar, suggesting that it is likely to trade below N1000 to a dollar in the near future. This forecast marks a significant improvement from previous exchange rates.

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Onanuga’s remarks coincide with the Central Bank of Nigeria’s recent sale of $15.8 million to bureau de change (BDCs) operators, aiming to meet the demand for individual foreign exchange needs.

The CBN’s move involves selling $10,000 each to 1,588 bureau de change operators, with instructions to sell to end users at a spread not exceeding 1.5% above the purchase price.

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The optimism expressed by Onanuga regarding the naira’s performance against the US dollar suggests a potential shift in currency dynamics, signaling potential relief for Nigerian consumers and businesses alike....READ FULL ARTICLE

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