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VIDEO: Why Naira Did Not Appreciate To ₦1,000/$ — Shettima

Naija News • 5d ago
VIDEO: Why Naira Did Not Appreciate To ₦1,000/$ — Shettima
**The Naira's Unfulfilled Promise: A Tale of Central Bank Intervention** Imagine waking up one morning to find out that the naira has finally reached the elusive ₦1,000 to a dollar mark, a feat many believed would take months to achieve. But in a surprising twist, Vice President Kashim Shettima revealed that this milestone was within reach just days ago, had it not been for the Central Bank of Nigeria's (CBN) timely intervention in the foreign exchange market. At the Progressive Governors' Forum (PGF) Renewed Hope Ambassadors Strategic Summit in Abuja, the Vice President dropped a bombshell that has left many Nigerians wondering what could have been. According to him, the CBN's intervention on Monday was a deliberate move to maintain market stability, which would have otherwise allowed the naira to appreciate to ₦1,000 in just a few weeks. This revelation has significant implications for Nigerians who have been waiting with bated breath for the naira to appreciate. For those who have been stockpiling dollars, hoping to profit from a stronger naira, the Vice President's words are a wake-up call. It's a stark reminder that the naira's value is influenced by a complex web of economic factors, and that even the most optimistic predictions can be derailed by unexpected events. Shettima's comments also highlight the progress being made in Nigeria's economy. With five out of seven major investment decisions made in Africa last year happening in Nigeria, the Vice President is confident that the country's economy is on the right path. As we move forward into 2026, the focus shifts from stabilization to acceleration, and Nigerians will be watching closely to see how the government's policies unfold. The Vice President's words serve as a reminder that the naira's value is not a fixed entity, but rather a dynamic variable that is influenced by a range of factors. While the CBN's intervention may have prevented a naira appreciation, it's clear that the country's economic trajectory is on an upward trend. As Nigerians, we must stay informed and adaptable, ready to seize the opportunities that arise as the country's economy continues to grow and evolve.
Source: Original Article. AI-enhanced version.