NIGERIA: Naira Currency on the Rise as President Tinubu Makes Surprising Economic Moves

WRITTEN BY: CHIOMA MADONNA NDUKWU

President Bola Tinubu’s administration is implementing policies to strengthen the Naira, which has been rising in value recently. Dr. Tope Fasua, the Special Adviser to the President on Economic Matters, announced this during the “Cowries to Cash” event in Abuja. Fasua emphasized that a strong currency is crucial for a country’s stability and warned against hoarding foreign currencies. He also mentioned a strategic plan to reorganize the banking sector to bolster the Naira’s stability. The Central Bank of Nigeria’s Governor, Dr. Olayemi Cardoso, highlighted economic challenges caused by COVID-19 and the Russia-Ukraine war. The event aimed to capture the evolution of Nigeria’s payment system and promote financial inclusion. The author, Princess Iphie, stressed the importance of preserving the history of money in Nigeria.

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