Peter Obi should spread the news ? Bayo Onanuga reacts to report of Naira holding grounds against Dollar

Bayo Onanuga, spokesperson for the Presidency, has called on Mr Peter Obi, the presidential candidate for the Labour Party (LP) in the last general election, to acknowledge the recent positive movement of the Naira, Nigeria’s national currency.

Onanuga highlighted that the Naira has been holding its ground against the US dollar and other foreign currencies, following reports by Bloomberg which stated that the Naira is experiencing an unusual period of stability. Analysts have expressed optimism that this trend could continue.

Despite the Naira losing 70% of its value against the dollar since the relaxation of foreign exchange controls in 2023, including a significant depreciation over the past 12 months, Onanuga described the recent stability as ‘’positive news.”

He invited Obi to share the good news, saying “The naira is holding its ground against the greenback and other currencies. This is good news, not bad news. I invite Mr. Peter Obi to retweet the exhilarating story.”