• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Buhari Sends Message To Devaluation Seekers “I Won’t Kill The Naira”

Nairametrics by Nairametrics
January 28, 2016
in Business News, Currencies
Buhari Sends Message To Devaluation Seekers “I Won’t Kill The Naira”

Picture of Buhari with Kenyan President

Share on FacebookShare on TwitterShare on Linkedin

President Buhari who is visiting in Kenya last night once again reiterated his opposition to a devaluation of the Naira. This time around he not only dared supporters of a devaluation to convince why he should devalue, he went after BDC operators throwing his support behind the need to exclude them from the official CBN window for forex.

A summary of his statement was released via a series of tweets (see below) by his Senior Special Assistant on media and publicity and official spokesperson Garba Shehu. The President has repeatedly barked against calls for a devaluation believing that such calls do not favour millions of poor Nigerians whom he believes do not form part of the demand on the dollar.

His latest tirade will be viewed by many as another indication that the current CBN Governor may not be in full control of monetary policy in the country and is basically carrying out the wishes of the President. Some also feel that the CBN Governor’s hands are tied considering his alleged role in the arm scandal.

RelatedStories

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
FX rate for customs import duties rises again by N37 

Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 

July 11, 2025

The foreign media lashed out at the monetary policy committee decision not to devalue the currency yesterday alluding to an impending economic disaster for Nigeria.

The Naira is currently trading at N307 at the black market which Buhari is apparently not interested in.

President @MBuhari rejects devaluation, says "I won't kill the Naira" https://t.co/9uEHEpHWEn

— Garba Shehu (@GarShehu) January 28, 2016

PMB said that proponents of devaluation will have to work much harder to convince him that ordinary Nigerians will gain anything from it.

— Garba Shehu (@GarShehu) January 28, 2016

PMB said that proponents of devaluation will have to work much harder to convince him that ordinary Nigerians will gain anything from it.

— Garba Shehu (@GarShehu) January 28, 2016

President @MBuhari also rejected suggestions that the CBN should resume the sale of foreign exchange to Bureaux de Change (BDCs),…

— Garba Shehu (@GarShehu) January 28, 2016

…saying that the Bureau de Change business had become a scam and a drain on the economy.

— Garba Shehu (@GarShehu) January 28, 2016

"We had just 74 of the bureaux in 2005, now they have grown to about 2,800," President @MBuhari

— Garba Shehu (@GarShehu) January 28, 2016

President Buhari alleged that some bank and government officials used surrogates to run the BDCs and prosper at public expense…

— Garba Shehu (@GarShehu) January 28, 2016

…by obtaining foreign exchange from government at official rates and selling it at much higher rates.

— Garba Shehu (@GarShehu) January 28, 2016

"We will use our foreign exchange for industry, spare parts and the development of needed infrastructure." -President @MBuhari

— Garba Shehu (@GarShehu) January 28, 2016

"We don't have the Dollars to give to the BDCs. Let them go and get it from wherever they can, other than the Central Bank" Pres. @MBuhari

— Garba Shehu (@GarShehu) January 28, 2016

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says
Business News

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
FX rate for customs import duties rises again by N37 
Business News

Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 

July 11, 2025
Federal High Court, REA
Legal & Regulations

Court dismisses ‘scavengers, beggars’ N500 million demand against FCT Minister, Wike  

July 11, 2025
Top 10 investment platforms in Nigeria ranked by downloads and user ratings as of June 2025 
Financial Services

Top 10 investment platforms in Nigeria ranked by downloads and user ratings as of June 2025 

July 11, 2025
US says Nigerians overstaying their visas face permanent ban, criminal prosecution
"Japa"

US Embassy clarifies Visa Validity reduction policy for Nigerians, denies link to deportees, BRICS

July 11, 2025
NNPCL may sell Warri, Port Harcourt, Kaduna refineries after 2025 review – Ojulari  
Energy

NNPCL may sell Warri, Port Harcourt, Kaduna refineries after 2025 review – Ojulari  

July 11, 2025
Next Post
[Results] Higher Costs Chops off 7up Margins

[Corporate Action] 7UP Records 50% Drop In Pre-tax Profits

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  
  • Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 
  • Court dismisses ‘scavengers, beggars’ N500 million demand against FCT Minister, Wike  

Follow us on social media:

Recent News

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
FX rate for customs import duties rises again by N37 

Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 

July 11, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics