Tuesday, September 2, 2025 - 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.
“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.”
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