Bayo Onanuga, the Spokesperson to President Bola Tinubu has encouraged Peter Obi to amplify the reports by Bloomberg that the naira is gradually gaining stability against major world currencies.

His call to the former presidential candidate comes after Deutsche Bank’s chief South African and sub-Saharan Africa economist Danelee Masia told Bloomberg Television’s Jennifer Zabasajja that “the naira can stabilize at 1,500, but potentially even stronger.”

In a post on X, Onanuga wrote: "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."

Zabasajja in the interview noted that the slide was a deliberate result of relinquishing its longstanding fixed peg against the dollar after President Bola Tinubu took office in May 2023.

Recall the naira lost 70% against the greenback since foreign exchange controls were relaxed in 2023, including a steep depreciation 12 months ago.

But its performance since December tells a different story, with the naira holding in a narrow range roughly between 1,550 and 1,520 per dollar.

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. https://t.co/hBGWz5lcjf

— Bayo Onanuga (@aonanuga1956) January 16, 2025