We never promised one naira equivalent to one dollar – Presidency


We never promised one naira equivalent to one dollar – Presidency

The Nigerian Presidency has said President Gen. Muhammadu Buhari never promised during his campaign  to make one naira equivalent to one dollar.

Femi Adesina, the spokesman for president Buhari described the claim as  false and fake.

“It does not exist, it is fake, it is false, it is apocryphal, it doesn’t”, Adesina said this  on Channels Television’s Sunday Politics.

Many  Nigerians insist Buhari and the ruling All Progressives Congress party made the promise during the 2015 election campaign in different states.

This issue is also often  debated on social media, especially when it involves people of different ethnics or political inclination .

As at the time of filling this report, a dollar is exchanged at N480 at the black market despite the official rate of below-N400.

The exchange rate of the Naira, The Nigerian currency is the major reason behind the calls for devaluation.

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

Emefiele have also attributed the high price  in electricity tariff, petrol pump price, and Naira depreciation to inflation.

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