Naira May Appreciate To N600 Against Dollar – Tinubu’s Aide Fasua

Naira May Appreciate To N600 Against Dollar – Tinubu’s aide Fasua

By Aisha musa, Abuja.

In a recent lecture and lunch event in Abuja, Dr Tope Fasua, a special adviser to President Bola Ahmed Tinubu, projected that the naira may strengthen further and reach an exchange rate of N600/$1 in the foreign exchange market.

Fasua, who was representing Vice President Kashim Shettima, urged Nigerians not to hoard foreign currencies with the hopes that the local currency will continue to depreciate. He warned that the government’s policies would surprise those who hold this belief.

Fasua also mentioned that there would be significant changes in the banking sector to enhance the stability and strength of the naira.

He stated, “For those who are speculating and praying that the currency will become worthless, I believe that the Central Bank is implementing policies and our government, led by President Tinubu, will surprise some of them.

“You need to listen to Tinubu’s agenda and see that his level of thinking is far ahead of most of us. He has some remarkable ideas in mind to reverse the depreciation of the naira. He has also challenged us to set ambitious targets, such as achieving a trillion-dollar economy by 2026.”

“Some people thought that the naira would continue to depreciate, but we can already see the situation evolving. Who knows, maybe the naira will strengthen even further to around N500 or N600/$1.”

According to NewsNow, the naira was sold at N1020/$1 on the Binance P2P market on Tuesday. At the parallel market, the currency is being sold between N1030 and N1100/$1, while the official FMDQ market closed at N809.2/$1 on Tuesday, up from N780.09 the previous day.