{"id":61718,"date":"2025-02-23T19:23:00","date_gmt":"2025-02-23T19:23:00","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=61718"},"modified":"2025-02-23T19:23:00","modified_gmt":"2025-02-23T19:23:00","slug":"nairas-gains-wont-last-rewane-warns","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/02\/23\/nairas-gains-wont-last-rewane-warns\/","title":{"rendered":"Naira\u2019s Gains Won\u2019t Last, Rewane Warns"},"content":{"rendered":"<p><strong>By Ade Iyamoye\u00a0<\/strong><\/p>\n<p>Bismarck Rewane, CEO of Financial Derivatives Company, has issued a stark warning to Nigerian policymakers, urging restraint amid the naira\u2019s recent surge.<\/p>\n<p>Speaking on Channels Television on Friday, Rewane described the currency\u2019s rally as \u201ctemporary\u201d and cautioned against premature optimism. \u201cThe naira is strengthening, but let\u2019s not get carried away\u2014it will correct itself,\u201d he said.<\/p>\n<p>Rewane revealed that Nigeria has spent nearly $8 billion to stabilize the currency, drawing from reserves and bond borrowings.<\/p>\n<p>Despite this, the naira has gained 9% in 2025, with inflation easing and GDP showing positive growth.<\/p>\n<p>The naira closed at N1,502.50 per dollar last week, appreciating across both official and black markets.<\/p>\n<p>However, Rewane stressed that this newfound stability could be short-lived, especially with foreign reserves falling by over $3 billion so far this year.<\/p>\n<p>\u201cWhile the gains are encouraging, policymakers must tread carefully to avoid future shocks,\u201d Rewane advised.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ade Iyamoye\u00a0 Bismarck Rewane, CEO of Financial Derivatives Company, has issued a stark warning to Nigerian policymakers, urging restraint amid the naira\u2019s recent surge. Speaking on Channels Television on Friday, Rewane described the currency\u2019s rally as \u201ctemporary\u201d and cautioned against premature optimism. \u201cThe naira is strengthening, but let\u2019s not get carried away\u2014it will correct [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":61719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-61718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=61718"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61718\/revisions"}],"predecessor-version":[{"id":61720,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61718\/revisions\/61720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/61719"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=61718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=61718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=61718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}