Chief Executive Officer of Capital Oil and Gas, and a one time governorship candidate for Anambra state, Ifeanyi Ubah, on Tuesday, stated that the naira has fallen substantially to about N310 to 1 dollar.

Ubah made this known through his Facebook page where he stated that people were manipulating the naira so as to make selfish gains.

While expressing optimism that Nigeria will recover from the current economic dip, Ubah noted that the currency could even fall further to N200.

Ubah said: “Fellow Nigerians, I wish to thank you for the support and encouragement you have given me so far. It has been unprecedented.”

“As at this evening, the Dollar has dropped further to N310 as against N390 on Sunday evening before my interview on Channels.”

“This shows that the earlier increase has been artificial as some people were manipulating and benefitting from it. They will all be fished out in due course so that Nigeria will be better and the suffering of the masses will end.”

“With God and our sincere efforts, even when we have not been fully consulted, the Dollar can still be brought down to N200 and below. Let the discourse continue. Shun the Dollar till it’s N200.”

“Pray for Nigeria and let the Dollar go down to N200 and below.”

It would be recalled that the Edo state governor, Adams Oshomole, have previously asserted that the naira was being manipulated by some unscrupulous individuals.

Oshomole, who defended the Buhari administration’s decision not to devalue the currency, had said that: “Some people are speculating on the naira; just manipulating the naira for their selfish ends. This is how a section of the business community make their money.’’

The naira has in recent days risen up to N400 naira, causing greater economic hardship to Nigerian’s who depend on importation of needed resources.

Mazi Emeka