• Mon. Dec 11th, 2023

Ndokwa Vanguard

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FG will shock speculators hoping dollar value will increase against Naira – VP Shettima

Nov 8, 2023 #National News, #News

The new monetary policies of the Bola Ahmed Tinubu administration and the Central Bank of Nigeria (CBN) will shock Dollar-Naira speculators, Vice President Kashim Shettima has said.

Speaking at the lecture/launch of a book titled: “Cowries to Cashless,” which coincided with the 65th anniversary of the Central Bank of Nigeria (CBN) on Tuesday, November 7, the vice president said the FG will soon roll out policies that will firm up the value of the Naira.

According to Shettima, Tinubu thinks far ahead of currency speculators.

Represented by the Special Adviser to the President on Economic Affairs, Tope Fasua, the vice president said;

“For those who are speculating and praying and wishing that the currency would become nonsense, I believe that the policies being rolled out by the CBN and the government that I serve, led by President Bola Ahmed Tinubu, will shock some of them very soon.”

On what the government plans to do, he said:

 “You need to listen to the man himself (Tinubu). You will see that the level at which he is thinking, he is far ahead of most of us.

“You know he has some very great ideas coming up. Some of them are what you’ve seen the reverse in the fall in the value of the naira, but he has also challenged us to review forward many of the targets. For example, the idea that Nigeria’s economy will get to a trillion dollars. He wants to achieve it by 2026.

“People thought the naira would continue to lose value and that was what I was mentioning. So, when someone is a visionary, leadership is about vision, and the man has the right vision for this country.

“To back it up, he has passion for the country; he believes in the country. For anyone who has that, you have to be fearful of betting against his policies.

“Like I said, you know that a weak currency is not something to brag about. And you have to be strategic if you want to position your exports properly; you have to be strategic in terms of the value of your currency.

“So, you will see all of these, including efforts from the fiscal side by the Minister of Finance/Coordinating Minister for the Economy (Mr. Wale Edun). We have patriots running the economy right now. And naysayers have to be very, very afraid.”

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