Tue Feb 23, 2016 10:59 pm
In a facebook post credited to top politician and businessman, Ifeanyi Ubah, the exchange rate as of this evening has dropped to N310 to $1. According to him, the increase in the dollar rate was being manipulated by some people who would soon be fished out.
I will name those behind Nigeria's stock exchange crisis if appointed by President Buhari to a financial consultant without pay - Ifeanyi Uba
The Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, on Tuesday, followed up his claims to a magic wand that would firm the Naira to an exchange rate of N200=$1 within 30 days ,with fresh claims that he knew those behind the current foreign exchange crisis facing the nation and was ready to name them publicly.He told journalists, in Abuja, that all he wanted from President Muhammadu Buhari , to achieve the goal, was to be appointed a consultant on Financial Stability, without pay.
According to him, he had a four-point strategy to achieve the extra-ordinary feat but that he would not make them public unless appointed a consultant by the federal government.
His words, “What do we have to bring the exchange rate to N200=$1? I have four cardinal points but I will not release them. I am a man brimming with confidence and ideas which is why I would dare to make such an audacious wager.
“Since my appearance and statement on Sunday night on Channels TV, Dollar has crashed from N400 to $1 to N370 to $1. Is this not enough evidence that this freefall of the Naira is artificial and could be better managed, with honesty and ingenuity