With the recent depreciation of the Naira value in the parallel market, the Chairman of Capital Oil and Gas Services Ltd., Dr. Ifeanyi Ubah, has said that if the federal government consults him, he could restore the nation’s currency to an exchange rate of N200 to one US Dollar within one month.
Barely two weeks into the month of January 2016, the Naira has been on steady decline when the Central Bank of Nigeria (CBN) stopped weekly dollar sale to Bureau De Change operator.
Speaking on Channels Television, Ifeanyi Ubah who advised the Federal Government to consult some Nigerians, said he could restore the nation’s currency to exchange at N200 to a US Dollar from the current N370 within one month.
He, however, did not say how he was going to perform the wonder but said it was “his business and business is secret”
“I can make the Naira come back to 200 Naira. That is my business and business is secret”, He was quoted saying
“I can make the Naira come back to 200 Naira. That is my business and business is secret”, He was quoted saying
According to the Anambra born, the government could seize everything he owns if he failed to do this within one month, if given the mandate.
How does he plan on achieving this? Only time shall tell
0 comment:
Post a Comment