‘EXPO’ : See how to crash dollar rate to N500, Peter Obi’s ally, Oseloka, reveals

Oseloka Obaze, the campaign manager for the Obi-Datti presidential campaign in the February 2023 election, made a suggestion about how to strengthen the naira’s exchange rate versus the US dollar.

In a post on his X handle on Saturday, Peter Obi’s supporter Oseloka stated he would have sought advice on how to handle the present naira crisis from a practical person who could have advised him on what to do.

He said that a two-month halt on the Federal Account Allocation Committee’s (FAAC) allotments to the three branches of government would have had the desired effect.

He said : “If celebral Motor Park Economist, Dr Alex Ashikiwe Adione-Egom were alive, he’d be an Obidient & @PeterObi’s adviser. If I asked him how best to arrest Naira’s fall, he’d probably say: “Withold FAAC for 2 months. It will cause hardship, but crash the Naira down to $1:N500.” Expo!”

 

News24 Nigeria reports that the Nigerian currency on Friday depreciated to N1,540 per dollar in the parallel market from N1,490 per dollar on Thursday.

It however, appreciated to N1,548.25 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,548.25 per dollar from N1,595.11 per dollar on Thursday, indicating N46.86 appreciation for the naira.

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