Naira Rises Against US Dollar: Why Some Nigerians Are Indifferent, Reno Omokri Explains
- Former presidential aide, Reno Omokri, reacted to the rise of the naira against the United States dollar
- Omokri said some Nigerians are indifferent about the appreciation of the naira in the foreign exchange market
- He said they are hoping and praying that the appreciation of the Naira will not last because they bet against the naira
Legit.ng journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events
FCT, Abuja - Former presidential aide, Reno Omokri, said some Nigerians are unconcerned about the rise of Naira against the dollar because they bet against the Nigerian currency.
Omokri said they had speculated against the Naira but have now lost due to the appreciation of the Naira.
Source: Twitter
He stated this in a post made via his X handle (formerly known as Twitter) @renoomokri on Sunday, December 8.
The social critic said the speculators are praying that the appreciation of the Naira will not last.
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Omokri said the appreciation of the naira will last and even appreciate further if the people “Grow Naira Buy Naija.”
"The reason some Nigerians are lukewarm about the appreciation of the Naira is because they bet against the Naira. They bought Dollars and Pounds, thinking the Naira was dead and buried. But the Naira is a seed of greatness. And seeds grow when they are buried. Now, they have speculated against the Naira and lost, which is why they are hoping, praying, and saying that the appreciation of the Naira will not last. But as long as you and I #GrowNairaBuyNaija, it will last and even appreciate further."
Nigerians react as naira appreciates
@IteshiM2023
You are dreaming
By January you might see $1 equals N2,000
Keep dreaming 🤣🤣🤣🤣
@CameronWaigha
Are you really serious? That the naira is gaining ground. Well, let's wait and see. Good luck!
@X_citizens
The dollar is falling. Every other currency paired with the dollar is experiencing significant growth. So don't take credit for it. It's universal!
Reason: There's more supply of dollars than demand. Christmas is here, hence more demand for local currencies worldwide.
@YayaOseni
Nays are on permutations right now.
Experts predict new exchange rate as the naira appreciates
Meanwhile, Legit.ng reported that the Nigerian currency, the naira, witnessed rapid gains in the foreign exchange markets in recent weeks.
Data from the FX markets shows that the naira has gained over N300 in the last three weeks.
The development is due mainly to the introduction of the Electronic Foreign Exchange Matching System (EFEMS) by the Central Bank of Nigeria (CBN).
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Source: Legit.ng
