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The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has stated that foreigners are now having faith in the naira thanks to his principal’s reforms.
Reacting to a report that some Chinese traders have begun accepting naira in place of the United States dollar for transactions with Nigerian customers, Onanuga attributed the development to the naira gaining recognition beyond Nigeria.
According to the report, forex traders have attributed the recent exchange rate stability to the success of Nigeria’s currency swap agreement with Chinese traders, who are now collecting naira for their yuan, instead of dollars.
Taking to his X account on Tuesday, Onanuga said, “This is a salutary development for the Nigerian economy. The Tinubu reforms are making foreigners have faith in the naira.
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“The Almighty US dollar is not the ultimate king here. The naira is waxing stronger as an international means of exchange.
“I also buy some items on Chinese platforms. I can confirm that they accept naira cards. El-Rufai, veteran runner Atiku Abubakar, and Peter Obi will never celebrate this development.
“They are waiting for disasters to vent their political frustration on President Tinubu.”
