Chief Executive Officer of Capital Oil and Gas, Ifeanyi Ubah, on Tuesday, stated that the naira has fallen substantially to about N310 to 1 dollar.
Ubah made this known through his Facebook page where he stated that people were manipulating the naira so as to make selfish gains.
While expressing optimism that Nigeria will recover from the current economic dip, Ubah noted that the currency could even fall further to N200.
Ubah said:
It would be recalled that the Edo state governor, Adams Oshomole, had previously asserted that the naira was being manipulated by some unscrupulous individuals.
Oshomole, who defended the Buhari administration’s decision not to devalue the currency, had said that: “Some people are speculating on the naira; just manipulating the naira for their selfish ends. This is how a section of the business community make their money.’’