- CBN Stopped Naira From Hitting To ₦1000/$ – Presidency
- CBN intervened to maintain forex market stability
- VP urges Akume, Alia to resolve Benue crisis
The Presidency has said the naira would have appreciated to ₦1,000 per dollar within weeks if the Central Bank of Nigeria had not intervened in the foreign exchange market to stabilise the system.
Vice President Kashim Shettima made the disclosure on Tuesday at the Progressive Governors’ Forum Renewed Hope Ambassadors Strategic Summit in Abuja.
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EKO HOT BLOG reports that he said, “In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the 1,000 Naira to a dollar we are going to attain in weeks, not in months. But for the purpose of market stability, the CBN generously intervened yesterday.
“So, for some of my friends, especially one of our party leaders who take delight in stockpiling dollars, it is a wake-up call.
“Our economy is picking up. Of the seven major investment decisions made last year in Africa, five were done in Nigeria. That goes to show the strength, viability, and the promise of the Nigerian economy. And as we advance into 2026, our focus shifts from stabilization to acceleration.”
Meanwhile, Shettima urged the Secretary to the Government of the Federation, George Akume, and the Governor of Benue State, Hyacinth Alia, to resolve their differences for the progress of the state.
He made the appeal at the Renewed Hope Ambassadors Summit held at the Presidential Villa, where he represented President Bola Tinubu.
Reports indicated that tensions between the two leaders led to separate party congresses in Benue about two weeks ago, with rival camps announcing parallel leadership structures.
Addressing the dispute, Shettima said continued conflict could hinder development and affect the welfare of the people.
He said, “Lastly, one can hardly get a forum better than this. I want to use this forum to make a special appeal to His Excellency Senator George Akume and His Excellency Governor Hyacinth Alia to mend fences and work effectively.
“Senator Akume, apart from Dr. Abdullahi Ganduje, Senator Akume is the longest serving public servant in the current dispensation. He’s in his seventies. He started work in Benue State Government House. He was the director of protocol. He was a permanent secretary. He was a governor for eight years, a senator for 16 years, a minister for four years, and now the Secretary to the Government of the Federation. You have seen it all.
“You are an elder statesman, reach out to our junior brother. Let’s build Benue together. Benue deserves peace. Benue deserves development.
“What binds us together, as I have always said, supersedes whatever divides us. The trajectory of global growth is facing Africa, and Nigeria will make or mar that transition.
“Nigeria is greater than all of us. And as Martin Luther King rightly said, we either learn to live together as brothers or perish together as fools. And we are not a nation of fools. We are a nation of very intelligent, very smart people that know their onions.”
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