• Stakes N500b assets as collateral to save troubled currency
CApital Oil chief, Ifeanyi Ubah has said he knows those responsible for the continued slide in naira value against other major currencies.
Addressing reporters in Abuja yesterday, Ubah said he knows the people whose efforts have led to the fall of the naira but will only reveal their identities if he is made “Federal Government Consultant on Financial Stability”.
Ubah said he took his campaign to save the naira to Channels Television a few days ago and reiterated that if made a consultant, he would bring the value of the naira down to N200 to the dollar in 30 days. He said he has “four cardinal points for bringing the naira back down to N200 to $1.
He said: “Since my appearance and statement on Sunday night on Channels TV, dollar has crashed from N400 to $1 to N370 to $1.”
Interestingly in Abuja yesterday, the value of the naira appreciated to N315 to $1 and lower in some Bureau De Change at the popular Wuse Zone 4 parallel forex market.