Dump Your Dollars Now To Avoid Tears, Naira Will Appreciate Soon - Presidency

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has warned Nigerians hoarding the dollar to dump their stock immediately to avoid sorrow and tears.

The presidential media aide warned that the naira is set to appreciate and speculators will lose if they don’t dump their stock of dollars before it happens.

Onanuga made the submission via his account on the X platform while reacting to a report that the Central Bank of Nigeria (CBN) has cleared a massive backlog of foreign exchange.

As earlier reported by Naija News, the CBN has cleared the $7 billion foreign exchange (FX) backlog that was pending when Yemi Cardoso took over as the governor of the apex bank.

This development was announced in a statement on Wednesday by the CBN Acting Director of Corporate Communications, Hakama Sidi Ali.

According to her, all valid claims have been settled, and only those claims found to be illegitimate were honored.

Ali explained that the CBN employed the services of an independent auditing firm, Deloitte Consulting, to meticulously evaluate all claims, and any invalid transactions have been referred to appropriate authorities for further checks.