Vice President Kashim Shettima has stated that the naira would have reached ₦1,000 in “weeks” had the Central Bank of Nigeria (CBN) not stepped into the foreign exchange (FX) market on Monday to maintain stability.
Shettima made these remarks on Tuesday during the Renewed Hope Ambassadors Strategic Summit of the Progressive Governors’ Forum (PGF) in Abuja.
“In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the 1,000 Naira to a dollar we are going to attain in weeks, not in months. But for the purpose of market stability, the CBN generously intervened yesterday.
“So, for some of my friends, especially one of our party leaders who take delight in stockpiling dollars, it is a wake-up call,” the vice president said.
“Our economy is picking up. Of the seven major investment decisions made last year in Africa, five were done in Nigeria. That goes to show the strength, viability, and the promise of the Nigerian economy. And as we advance into 2026, our focus shifts from stabilization to acceleration.”
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