Naira on the Brink: Tinubu signals massive recovery ahead
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He added that his government’s money policies are starting to work. “If the CBN had not acted yesterday, we would have reached N1,000 per dollar in weeks, not months,” he said.
President Bola Ahmed Tinubu says the Nigerian naira will get stronger and could reach N1,000 per US dollar in the next few weeks.
He spoke about this on Tuesday at the Renewed Hope Ambassadors Summit in Abuja. Tinubu said the Central Bank of Nigeria (CBN) had to step in on Monday to remove extra dollars from the market to help keep the naira stable.
He added that his government’s money policies are starting to work. “If the CBN had not acted yesterday, we would have reached N1,000 per dollar in weeks, not months,” he said.
On Tuesday, the naira fell to N1,355.37 and N1,370 per dollar in the official and black markets.
CBN Governor Olayemi Cardoso said the country’s foreign reserves went up to $50.45 billion on February 16, 2026, the highest in 13 years.
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