Femi Adesina: President Buhari Never Promised To Make One Naira Equivalent To One Dollar

March 29, 2021
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President Muhammadu Buhari never promised to make one naira equivalent to one dollar, the Presidency has said.

A presidential spokesman, Femi Adesina, who spoke on Channels TV’s Sunday Politics, described the claim as fake and false.

“It does not exist, it is fake, it is false, it is apocryphal, it doesn’t”, Adesina said.

Some Nigerians insist Buhari and his party, the All Progressives Congress (APC) made the promise during the 2015 election campaign. The issue is also regularly debated on social media.

At the moment, a dollar is being 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.

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

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

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