A Special Adviser to the President on Economic Matters, Dr Tope Fasua has cautioned Nigerians who are hoarding foreign currencies with the hope that the local currency would continue to fall, warning that the policies of the government would shock them.
Speaking at the “Cowries to Cash” lecture and lunch in Abuja, Dr. Fasua stated that President Bola Tinubu’s administration is actively working on policies aimed at strengthening the Naira.
He pointed out the recent positive trend in the Naira’s value and emphasized that this trend is expected to continue due to the government’s policies.
He cautioned Nigerians who are hoarding foreign currencies with the hope that the local currency would continue to fall, warning that the policies of the government would shock them.
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Fasua who represented the Vice President, Kashim Shettima, at the event said: “For those who are speculating and praying and wishing that the currency would become nonsense, I believe that the policies are being rolled out by the central bank and the government that I serve, led by the President, will shock some of them.
“You need to listen to the agenda, the man himself (Tinubu) and you will see that the level at which he is thinking is far ahead of most of us.
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“You know, he has some very great ideas coming up. Some of them are what you’ve seen reversing 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.
“Some people thought that the naira would continue to lose value. Of course, we can already see what’s going on and who knows, maybe the Naira will strengthen even further to maybe something 500 or 600. I’m beginning to see some of those.”
