I Can Restore $1 To N200 In One Month – Capital Oil Boss, Ifeanyi Ubah


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There is no denying the fact that Nigeria’s currency, the naira, has continued to plummet in value against international currencies such as the dollars, euros and pounds.

While the official exchange rate is pegged at $1 to around N200, one does not need a soothsayer to find out a dollar sells at nearly N400 in the parallel market.

A former gubernatorial candidate in Anambra state and Chairman of Capital Oil and Gas, Dr. Ifeanyi Ubah on Monday issued a come-and-get-me plea to the Federal Government with a claim that he could restore the value of the naira to 200 against the dollar in a month.

While speaking on Channels TV’s Politics Today, Ubah said it was wrong to place the blame for the naira’s abysmal fall against the dollar entirely on the shoulders of Bureau De Change operators.

According to him, if the present administration of President Muhammadu Buhari would consult him, he could suggests solutions to the seemingly intractable problem.

He said:  “Look at the economy, look at the position of the naira today; some of us have ideas on how we can restore this.

“Do you know how many Burea De Change people who food has been taken out of their families because of this? If you say they are the ones causing it, then where are you today?

“It needs strategic management. It won’t take me one month, if you give me part of that consultancy, naira would come back to 200.

“I can bet my life with it, naira would come back to N200. If you call me for that consultancy, I would put naira back to 200.”

However, he declined to state how he would go about it, stating: “Don’t worry, that’s my business and business is secret.”


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