By Ade Iyamoye
Bismarck Rewane, CEO of Financial Derivatives Company, has issued a stark warning to Nigerian policymakers, urging restraint amid the naira’s recent surge.
Speaking on Channels Television on Friday, Rewane described the currency’s rally as “temporary” and cautioned against premature optimism. “The naira is strengthening, but let’s not get carried away—it will correct itself,” he said.
Rewane revealed that Nigeria has spent nearly $8 billion to stabilize the currency, drawing from reserves and bond borrowings.
Despite this, the naira has gained 9% in 2025, with inflation easing and GDP showing positive growth.
The naira closed at N1,502.50 per dollar last week, appreciating across both official and black markets.
However, Rewane stressed that this newfound stability could be short-lived, especially with foreign reserves falling by over $3 billion so far this year.
“While the gains are encouraging, policymakers must tread carefully to avoid future shocks,” Rewane advised.
