Naira/Dollar Exchange Rate: Shehu Sani Speaks on Present Ship ‘That is Floating’

• Senator Shehu Sani has reacted to the current naira-to-dollar exchange rate in the international market
• The former federal lawmaker wondered how the naira can regain its value and strength when it is still in the hands of those who sank the "past ship"
• Sani said the businessmen and Forex beneficiaries of the past ship are in the present ship ‘that is floating’”

Legit.ng journalist Adekunle Dada has over 5 years of experience covering metro and government policy

FCT, Abuja - Former Kaduna Central Senator, Shehu Sani has asked how the Nigerian currency, Naira can regain its value and strength against the dollar in the international market.

Sani said the same businessmen and foreign exchange (Forex) beneficiaries who sank the past ship are the same set of people in the present ship ‘that is floating’

Read also

Wike/Fubara feud: Rivers governor gives fresh update on political crisis, “I had seen a movie”

He stated this via his X handle (formerly known as Twitter) @ShehuSani, on Monday, May 6.

The former federal lawmaker wrote:

“How can the Naira regain its value and strength when the Businessmen and Forex beneficiaries of the past ship that sunk are in the present ship ‘that is floating’?”

Nigerians react

Legit.ng captured some reactions from Nigerians concerning the naira/dollar exchange rate.

@badlieutanant

The value of the Naira cannot be regained until certain factors are addressed. We have to agree with PO on this bcoz the only way for Naira to regain its value is through increased production.

@OkoliStephenIz3

Very good question. They will only keep fighting shadows because they can't fight themselves.

@iam_paulash

They are there to use their experience and expertise to sink it again.

@KayodeAbraham12

That ship is some kind of caricature played with by shenanigans, charlatans and scallywags. The ship desires new crew of active mental, physical and spiritual qualities.

Read also

Prominent Nigerian governor asked to return to ruling APC, details emerge

@ChimaUwaezuoke

Every morning I wake up, I check the exchange rate, look at my bank account and realize I’ve just lost a couple of my hard earned millions of naira without doing any transactions. All because I come from a country called Nigeria. So sad.

@TAIWOISAACABIOD

Those involved in round tripping of the forex are given prominent roles in the administration of the economy as it stands today

Omokri makes naira to dollar exchange rate admission

Meanwhile, Legit.ng reported that Reno Omokri, the outspoken former special assistant on social media to ex-president Goodluck Jonathan, admitted that the naira "is not where I want it to be".

Omokri stated that he takes solace in the fact that the naira "is not where it was in January".

According to Omokri, as of Thursday afternoon, May 2, the exchange rate was N1,350 to $1. The 50-year-old projected that the naira "will go up and down".

Source: Legit.ng