Exchange Rate: I can make it N200 to $1 in one month, says Ifeanyi Uba, Capital Oil boss

Dr. Ifeanyi Uba
Dr. Ifeanyi Uba

Ifeanyi Ubah, chairman of Capital Oil and Gas, says he has the business wherewithal to restore the naira to 200 against the dollar in one month – only if consulted by President Muhammadu Buhari, With the naira currently exchanging with N384 to N390 against the dollar, Ubah, who was speaking on Channels TV’s Politics Today, said the fall is not as a result of the activities of the Bureau De Change (BDC) operators. “Look at the economy, look at the position of the naira today; some of us have ideas on how we can restore this,” he said. “Do you know how many Burea De Change people who food has been taken out of their families because of this? If you say they are the ones causing it, then where are you today? “It needs strategic management. It won’t take me one month, if you give me part of that consultancy, naira would come back to 200. “I can bet my life with it, naira would come back to N200. If you call me for that consultancy, I would put naira back to 200.” When asked how he would achieve the feat, Ubah said: “Don’t worry, that’s my business and business is secret.”

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