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Buhari didn’t promise to make one naira equal one dollar – Spokesperson




President Muhammadu Buhari did not promise to make one naira become equivalent to one dollar, Femi Adesina, Special Adviser to the President on Media and Publicity, has said.

According to Adesina, the claims suggesting that President Muhammadu Buhari made such a promise, are false.

“It does not exist, it is fake, it is false, it is apocryphal, it doesn’t” Mr Adesina stated while appearing as a guest on Channels Television’s Sunday Politics.

President Buhari had reportedly promised during his south-east presidential campaign in 2015 at Dan Anyiam Stadium, Owerri to ensure that naira equals to dollar in value if voted into office.

According to Buhari: “It is sad that the value of the naira has dropped to more than N230 to one dollar. This does not speak well for the nation’s economy,” he said.

A dollar is currently exchanged at N480 at the black market despite the official rate of below-N400.

The exchange rate of the Nigerian currency is the major reason behind the calls for naira devaluation.

Last week, Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), attributed the rising inflationary trend to insecurity.

Emefiele also attributed the hike in petrol pump price, electricity tariff, and Naira depreciation to inflation.