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Buhari never promised to make N1 equals $1– Adesina

Presidential spokesman, Femi Adesina, has refuted the claim that his principal promised to make one naira equivalent to one dollar, by describing it  as “fake and false”.

Critics of the Buhari administration usually cite its inability to make naira on a par with dollar as one of the failures of the current government.

Opposition parties also  taunt Buhari and his party, the All Progressives Congress (APC), with it, adding that they made the grand and ambitious claim during political campaigns in the buildup to the 2015 general election.

But speaking on Channels Television’s “Sunday Politics”, Femi Adesina said Buhari did not make such a promise to Nigerians.

The presidential spokesman said, ” “It does not exist, it is fake, it is false, it is apocryphal, it doesn’t”.

Currently, a dollar is being exchanged at N480 at the black market despite the official rate of below-N400.

The exchange rate of the Nigerian currency is the major reason behind the calls for naira devaluation.

Last week, Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), attributed the rising inflationary trend to insecurity.

Emefiele also attributed the hike in petrol pump price, electricity tariff, and Naira depreciation to inflation.

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