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Wedding“Tinubu Signs Nigerian Ports Economic Regulatory Agency Act” — Gives Shippers’ Council Full Legal Backing To Regulate Tariffs, Charges“Ghana Police Arrest Nigerian, Kill Two In Alleged Foiled Bank Robbery” — GCB Denies Attempt At Its Branch As Vehicle Record Raises Questions“Keyamo Gives Airlines One Week To Agree Repayment Plans For Outstanding 5% Ticket Sales Charges” — Orders Unions Direct Access To Workers“NAICOM Clears Seven More Insurers, Brings Recapitalisation Exercise To Conclusion” — 50 Firms Meet Revised Capital Requirements“Orders Police To Investigate Fadahunsi Over Alleged ‘Kill Accord Members’ Remark” — Report Due Within Two Weeks“Hazardous Gases, Pollution Detected In Bille Community” — Reps Demand Urgent Action Over Nine-Month Gas Seepage“Court Throws Out Trump’s Suit Against Harvard” — Says Alleged Incidents Too Isolated To Prove Civil Rights ViolationsVIDEO: “Pelosi Denies Knowing Extent Of Biden’s Decline While President” — Faults Those Who ‘Should Have Acted 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Running On Outdated Android 10” — Calls For Independent Audit Ahead Of 2027 Elections“Delta To Introduce Biometric Criminal Database For Persons Charged With Offences” — AG Ohwovoriole Says System Will Boost Security“It Is A Crime To Do That And Whoever Does That Should Be Arrested,” Says NCAA DG, Achimugu, On Bus Parked On Lagos Airport Airside“Justice Nwagboso Altered His Judgment After Delivery” — Odinkalu Says Imo Judge Was Among Nine Compulsorily Retired For Age Falsification“Students’ Data Allegedly Used To Open Bank Accounts Without Lawful Basis” — NDPC Begins Forensic Probe Of UNILAG, Lotus Bank, Hackerbella“Professors Now Aid Illiterates To Rig Elections, SANs Defend Forgery” — Peter Obi Laments Decline Of Nigeria’s Democracy“Former PENGASSAN President and UN Global Mediator Panel Member”— Louis Brown Ogbeifun To Speak At ICMC Conference”“Emir Sanusi Has No Carry-Over, Viral Claim Is False And Baseless” — Northwest University Kano Warns Against Defamatory Posts“Nigerian Law School Confirms Death Of Student Who Fell From Lagos Campus Hostel Rooftop” — Says Family’s Privacy Should Be Respected“EU Has Not Rejected INEC’s Invitation For 2027 Election Observation” — Ambassador Says Reports Are Speculative, Confirms Expert Mission To Nigeria“Trump Moves To Cut Universal Childhood Vaccine Recommendations” — Executive Order Draws Backlash From Doctors, Legal ExpertsAsset Forfeiture: Need To Establish Legitimacy Of Purchase FundsThe Advocate — Like NBA, Like Osun: Issues In Election Credibility“We Were Still Mobilising Officers; There Was No D-Day” — Col Ma’aji Says Alleged Coup Plot Was Driven By “Patriotism,” Seeks Pardon“Mali Army Says 40 Jihadists Killed In Attack On Military Base” — JNIM Claims Assault As Security Situation Worsens“AI Will Expand Human Capabilities, Not Make People Irrelevant” — Zuckerberg Says Invention, New Businesses Will Shape Future Of Work“EFCC Arrests Fake Operative In Maiduguri Over Alleged ₦3m Fraud” — Recovers Money, Says Suspect Paraded Himself As Commission Officer“Kano People Do Not Support Divisive Remarks” — Kwankwaso Condemns Sheikh Jingir’s Muslim-Muslim Ticket Comment Ahead Of 2027“FG Deploys Passport Intervention Team To UK” — NIS To Clear Pending Applications, Process Renewals For Nigerians In Diaspora“Police Kill Suspected Bandit Kingpin ‘Acid’ Linked To Imo Monarch’s Murder” — Recover AK-47, 56 Rounds Of Ammunition“NUPRC Approves Over $57bn Field Development Plans” — Says 22 Offshore Projects Could Attract Up To $50bn By 2030“Greenwich Merchant Bank Transforms Into Commercial Bank” — New Licence Expands Services To Retail, SMEs, Public Sector“Plateau Crisis Is About Identity, Land, Justice And Belonging” — Jang Says Unresolved Grievances, Leadership Failures Fuelled Decades Of Violence“NRS, JRB Issue New Guidelines On Crypto P2P Taxation” — VASPs To Withhold 1% On Virtual Asset Disposals“Lagos Police Probe Death Of Nigerian Law School Student At Victoria Island Hostel” — 23-Year-Old Allegedly Fell From Rooftop“Meter Manufacturers Drop Suit Against 1.55m Smart Meter Imports” — AMMON Says FG Talks Resolved Dispute In National Interest“NAF Airstrike Kills Nine ISWAP Fighters In Sambisa Forest” — Says Key Commander Abu Khalid Al Muhajir Neutralised In Precision Operation“INEC Extends Deadline For Parties To Submit 2027 Governorship, Assembly Candidates” — Suspends PVC Collection In Osun Ahead August 15 Poll“I Helped 10 Pregnant Women Deliver Babies Bare-Handed In Captivity” — Rescued Kwara Nurse Recounts Six-Month Ordeal With Terrorists“Court Orders Lagos Administrator-General To Take Over Labode Akindele’s Estate” — Late Billionaire’s Son Challenges Validity Of Will[REVEALED] NBA President Osigwe Rejected Ulegede’s 2015 Petition Against Gadzama, Says “No Basis To Further Inquire Into The Matter”“US Court Confirms Divorce Settlement Against Nigerian-Born Simon Guobadia” — Grants Porsha Williams Atlanta Mansion, $1.57m Reimbursement And Rolls-Royce Title“Ejike Ezenwa SAN Tours L.I.B.I Estate, Commends Lawyers’ Mass-Housing Investment Scheme” — AGC Promo Offers Plots From ₦24.5m, Prices To Rise After Conference“Lack Of Electricity Makes Population Double In Nigeria” — Fayose Says Darkness Leaves Rural Residents With Few Night-Time Alternatives“EFCC Can Freeze An Account For 72 Hours, But A State’s Statutory Account Is Different” — Ubani Says Govt Actions Are Subject To Citizens’ Scrutiny“Bank Of America Spends Over $250m Yearly On Weight-Loss Drugs For Employees” — CEO Says GLP-1 Coverage Is A Good Investment Despite Rising Costs“Police Report Implicates Budget Office, OAGF, HoS Officials In Fake DG’s ₦400m Fraud” — Seeks DPP Advice On Prosecution Of Five Govt Officers“The EFCC Froze Three Osun Government Accounts, Not One,” Court Document Reveals Wider Scope Of The Freeze“Tinubu, Wike, Akume, Others Allegedly Listed As PFIPC Board Members” — Reps Query FRSC Over Seven Official Number Plates“Trading Naira Notes, Off-Market Forex Cost Four Their Freedom” — Court Jails Baros, Injay, Suleimon, Sholanke“Ghana Court Convicts Two Nigerians Ndifon, Akong ” — Sentences Them To 20 Years Each For Trafficking 11 Compatriots“Court Sentences Final-Year Student To 25 Years For Rape Of 10-Year-Old Girl” — Orders His Arrest, Directs University To Withhold Certificate“Fraudster Is Using Justice Kanyip’s Identity To Seek Contracts And Payments” — National Industrial Court Warns Public“Only Lazy People Depend On Markets For Food” — Senator Nwaebonyi Tells Nigerians To Embrace Farming Amid Rising Prices“12-Hour Flight Delay Amounted To Breach Of Contract” — Court Orders Dana Air To Pay Lawyer ₦5.5m“Court Sentences Abdulshakur Tukur, Abdullahi Buba To Death By Hanging” — Convicted Over Ahmad Yakubu’s Murder“Army Graduates 1,178 Troops For Counter-Terrorism Operations” —Says Graduates Will Strengthen Newly Created Formations“Zamfara APC Senatorial Ticket: Court Reserves Judgment For August 31” — Shinkafi Challenges Ya’u’s Emergence“I’m Embarrassed A Lawyer Would Claim Documents Were Forged When No Court Has Said So” — Ogala, SAN Faults Allegations Against Tinubu’s Credentials“Tinubu Turned EFCC’s Osun Account Reversal Into Cheap Political Point” — Maduabuchi SAN Says AGF, Not President, Should Have Quietly Directed Action“The Homeland Is Not For Sale” — Protesters Clash With Police As Argentine Senate Debates Controversial Property Bill“Tinubu’s EFCC Directive One Of His Best Decisions” — Prof. Agbazuere Says Commission Is Under Executive Powers Of President“Trump Orders Crackdown On Birth Tourism” — New Executive Orders Seek To Deny Citizenship To Children Of Some Non-Citizens Born In US“Ex-Finance Minister Kemi Adeosun’s Husband, Anthony, Dies At 62”— Family Remembers His Faith, Integrity And Service“Adeleke, Osun Sue EFCC, First Bank For ₦2bn Over Frozen Statutory Account” — Seek Immediate Unfreezing, Perpetual Injunction“How Do You Not Go Through Primary And Secondary Certification But You Have A University Degree?” — Odinkalu Says Supreme Court Enabled The President’s Record“The Courts Have Made Two Things Plain: Freeze Accounts Only On Court Orders, And The EFCC Has Limited Powers” — Says Prof. Ajayi, SAN“Court Restrains UNICAL VC, Others From Interfering With Chaplain’s Rights” — Orders Status Quo In Chapel Of Redemption Dispute“Abacha Loot Was No Hoax; Abdulsalami Should Apologise And Quit Peace Committee” — Falana Says His Own Decree Confirmed Illegal Forfeitures“Oyebanji Awards Full Scholarship To Ekiti Spelling Bee World Champion” — Gifts Damilola Adeolu, School, Coach ₦5m“Court Of Appeal Bars EFCC From Investigating Fayemi, Ekiti Officials Over State Accounts” — Says Commission Cannot Ignore Subsisting Judgment“Let Osun Remain Peaceful” — Davido Urges Voters To Reject Violence, Appeals To Uzodimma Against Election Interference“Human Rights, Security Must Go Hand In Hand” — AGF Inaugurates NHRC–Police Liaison Framework To Strengthen Accountability“Tinubu Administration Is Not Seeking A One-Party State” — Akume Pledges Respect For INEC, Continued Dialogue With Catholic Bishops“PSC Deploys Eight Commissioners Of Police To States” — Appoints AIG Auwal Mohammed As Police Academy Commandant“Police Arrest Fifth Suspect Over Killing Of UNIJOS Graduate” — Command Says Victim Was Tied To Pole, Tortured By Mob“Many Nigerian Airlines May Collapse Within 30 Days Without Urgent Intervention” — Onyema Warns FG“US Moves To Revoke Citizenship Of 25 Naturalised Americans” — Three Nigerians Named As DOJ Launches Largest Coordinated Denaturalisation Push
Sat. Aug 15th, 2026

Buhari Sends Message To Devaluation Seekers “I Won’t Kill The Naira”

  • Naira
  • January 28, 2016
  • 0 Comments
Spread the love

President Buhari who is visiting in Kenya last night once again reiterated his opposition to a devaluation of the Naira. This time around he not only dared supporters of a devaluation to convince why he should devalue, he went after BDC operators throwing his support behind the need to exclude them from the official CBN window for forex.

A summary of his statement was released via a series of tweets (see below) by his Senior Special Assistant on media and publicity and official spokesperson Garba Shehu. The President has repeatedly barked against calls for a devaluation believing that such calls do not favour millions of poor Nigerians whom he believes do not form part of the demand on the dollar.

His latest tirade will be viewed by many as another indication that the current CBN Governor may not be in full control of monetary policy in the country and is basically carrying out the wishes of the President. Some also feel that the CBN Governor’s hands are tied considering his alleged role in the arm scandal.

The foreign media lashed out at the monetary policy committee decision not to devalue the currency yesterday alluding to an impending economic disaster for Nigeria.

The Naira is currently trading at N307 at the black market which Buhari is apparently not interested in.

President @MBuhari rejects devaluation, says “I won’t kill the Naira” https://t.co/9uEHEpHWEn

— Garba Shehu (@GarShehu) January 28, 2016

PMB said that proponents of devaluation will have to work much harder to convince him that ordinary Nigerians will gain anything from it.

— Garba Shehu (@GarShehu) January 28, 2016

PMB said that proponents of devaluation will have to work much harder to convince him that ordinary Nigerians will gain anything from it.

— Garba Shehu (@GarShehu) January 28, 2016

President @MBuhari also rejected suggestions that the CBN should resume the sale of foreign exchange to Bureaux de Change (BDCs),…

— Garba Shehu (@GarShehu) January 28, 2016

…saying that the Bureau de Change business had become a scam and a drain on the economy.

— Garba Shehu (@GarShehu) January 28, 2016

“We had just 74 of the bureaux in 2005, now they have grown to about 2,800,” President @MBuhari

— Garba Shehu (@GarShehu) January 28, 2016

President Buhari alleged that some bank and government officials used surrogates to run the BDCs and prosper at public expense…

— Garba Shehu (@GarShehu) January 28, 2016

…by obtaining foreign exchange from government at official rates and selling it at much higher rates.

— Garba Shehu (@GarShehu) January 28, 2016

“We will use our foreign exchange for industry, spare parts and the development of needed infrastructure.” -President @MBuhari

— Garba Shehu (@GarShehu) January 28, 2016

“We don’t have the Dollars to give to the BDCs. Let them go and get it from wherever they can, other than the Central Bank” Pres. @MBuhari

— Garba Shehu (@GarShehu) January 28, 2016

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.


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