Amid the free fall of the Naira in the foreign exchange market, President Bola Ahmed Tinubu has vowed to resolve all the challenges discouraging investors' confidence in the country. Speaking at the ongoing Nigeria Economic Summit #NES29 in Abuja on Monday, the President assured that Nigeria will honour all future foreign exchange contracts.
He said his administration is committed to sustaining Nigeria's economy. 'All foreign exchange future contracts will be honoured by this government. We have a line of sight to the foreign exchange we need to refloat this economy. And we will get it,' Tinubu said. Recall that the Central Bank of Nigeria sold forward contracts to several Nigerian businesses with the promise of dollars at an agreed price in the future.
reports that the Naira exchanged at N1,160/$1 at the parallel market on Monday morning. Meanwhile, at the FMDQ market on Friday, the Naira closed at $/N808.27.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Quick Cautionary Note to President Tinubu (PBAT) on IMF Prescriptions, By Dr M. SagagiThe IMF champions market-based reforms and does not apologise for that. IMF policy prescriptions are often seen as obnoxious and anti-poor.
Read more »
For President Tinubu, coordination is key in ensuring effective governance, says Bala-UsmanMy role is that of Special Adviser to the President on Policy and Coordination. As the name indicates, there’s a component of it, which is policy, and there’s another component that speaks to coordination.
Read more »
Group condemns Gov Lawal’s call for President Tinubu’s resignationThe Arewa APC Vanguard has condemned Zamfara State's governor, Dauda Lawal, for his call for President Bola Tinubu's resignation over the issue of his alleged certificate forgery, which is before the Supreme Court.
Read more »
Tinubu proposes public-private financing for Nigeria’s universitiesThe Nation Newspaper Tinubu proposes public-private financing for Nigeria's universities
Read more »
Nigeria Now Stands At Precipice, NESG Tells TinubuWith more than 133 million multidimensionally poor Nigerians, overwhelming insecurity, high inflation and dwindling purchasing power of an ordinary Nigerian,
Read more »
Relax, Tinubu will fix Nigeria – Yul Edochie tells NigeriansControversial Nollywood actor, Yul Edochie, has urged Nigerians to be rest assured that President Bola Ahmed Tinubu would 'fix' the country. Despite the excruciating economic hardship in the country, the thespian admonished Nigerians not to panic, stressing that the President is 'a master strategist'.
Read more »