By Onilede Titi Faith<\/p>\n
The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, says the administration\u2019s economic reforms are restoring confidence in the naira at home and abroad.<\/p>\n
He was reacting to reports that some Chinese traders now accept naira in place of the U.S. dollar, a move linked to Nigeria\u2019s currency swap agreement with China and the rise of peer-to-peer foreign exchange platforms.<\/p>\n
According to the Central Bank of Nigeria, the naira strengthened by 0.36 per cent on Monday, closing at \u20a61,526.09 per dollar, its strongest level in six weeks.<\/p>\n
Onanuga, in a post on X, hailed the development as proof that Tinubu\u2019s reforms are working. \u201cThe Almighty U.S. dollar is not the ultimate king here. The naira is waxing stronger as an international means of exchange,\u201d he wrote.<\/p>\n
He added that his experience with Chinese e-commerce sites showed naira cards are now accepted, while accusing opposition figures of ignoring the gains.<\/p>\n
Onanuga stressed that the trend reflects growing international recognition of the naira and proves the government\u2019s policies are beginning to yield results.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Onilede Titi Faith The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, says the administration\u2019s economic reforms are restoring confidence in the naira at home and abroad. He was reacting to reports that some Chinese traders now accept naira in place of the U.S. dollar, a move linked to Nigeria\u2019s […]<\/p>\n","protected":false},"author":29,"featured_media":74813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-74812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/74812","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\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=74812"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/74812\/revisions"}],"predecessor-version":[{"id":74814,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/74812\/revisions\/74814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/74813"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=74812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=74812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=74812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}