…as Naira continues to bounce back against Forex

This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1.

Abdulsalam BDC is selling N900 if buying over $5000. There’s a mad rush to dispose of dollars at Zone 4. The dollar in the parallel market is presently selling at a lower price than the official market.

Meanwhile, an anonymous social media user had the following to say:

Those who refused to listen to this admonition I made 23 days ago are now ashamed of themselves because they were very unpatriotic, hypocritical, mischievous, malicious and selfish:

Naira is bouncing back and everything is being done to fight the artificial spike but if you didn’t ask Buhari to return it to N300 (parallel market) where he met it in 2015 or you didn’t ask Obasanjo to return it to N21, if you fear God, you should give Tinubu some breathing space before asking him to make it N780.

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It was N21 in 1999 before Obasanjo was sworn in and Obasanjo left it at N120-N125 in 2007. 104% fall.

In 2009, Yar’adua left it at N145-N171. Official and parallel market respectively
46% fall.

And by the time Jonathan was leaving in 2015, it was N199-N300.
129% fall.

By 2023 when Buhari left, it was N420 at official rate and N780 at parallel market.
480% fall.

Without floating it, it fell by 104% under Obasanjo: 46% under Yar’adua; 129% under Jonathan and 480% under Buhari…without floating it.

By 2027 when Tinubu will finish his term, it will be just and fair to rate his performance. You can go ahead and start to sell Toyota, the truth is what is posted above. Don’t come and be unfortunate by acting as if somebody did any good job with our exchange rate despite the volume of subsidy put into it.

In conclusion, I have seen that President Tinubu is all out to fix that problem once and for all but it will be a long battle. Binance has been deactivated and fined. Illegal BDCs are finding it difficult to operate while over a thousand have been deregistered among other decisive steps and going by the number of BDCs Emefiele registered and a lot of economic criminalities known to us all, one won’t be surprised at how it fell by 480% between May 29, 2015 and May 29, 2023 despite its non floatation.

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