Home News Metro News Real Value Of Naira Is N1000 To 1 Dollar – Reno Omokri
Real Value Of Naira Is N1000 To 1 Dollar – Reno Omokri

Real Value Of Naira Is N1000 To 1 Dollar – Reno Omokri

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Reno Omokri, former aide to ex-President Goodluck Jonathan, has claimed that the true value of the Naira stands at about N1000 to $1.

He said this on Thursday night via his Facebook page.

According to him, the Central Bank of Nigeria (CBN) allegedly uses Nigeria’s foreign reserves in US Dollars to keep the value of the Naira up.

Omokri said: “They will tell you that we are broke because the price of oil crash. That is not true.

“The oil is just the 15 percent of our Gross Domestic Product (GDP). If the price of oil crash, it is not going to affect our economy to the point where we are so broke.

“Right now they tell you that the value of the Naira is increasing. Look that is completely not true.

“What they are doing is that they are depleting our foreign reserves and using it heavily to support the Naira. In a day they spend as much as $400 million to artificially keep the value of the Naira up.

“The oil is just the 15 percent of our Gross Domestic Product (GDP). If the price of oil crash, it is not going to affect our economy to the point where we are so broke.

“Right now they tell you that the value of the Naira is increasing. Look that is completely not true.

“What they are doing is that they are depleting our foreign reserves and using it heavily to support the Naira. In a day they spend as much as $400 million to artificially keep the value of the Naira up.

“If the Naira is left to float, I am telling you; it will be about N1,000 to a Dollar.”

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