Presidency hails growing confidence in naira as Chinese forex traders accept naira over dollars

Abdullateef Fowewe

Bayo Onanuga, spokesman for President Bola Tinubu, has praised recent reports indicating that Chinese forex traders are now accepting the Nigerian naira instead of the US dollar.

Reacting on Tuesday via X, Onanuga described this shift as a “salutary development for the Nigerian economy,” pointing to it as evidence that the Tinubu administration’s reforms are restoring foreign confidence in the local currency.

Onanuga emphasised the changing dynamics in global trade currencies, stating, “The Almighty US dollar is not the ultimate king here. The Naira is waxing stronger as an international means of exchange.”

He added from personal experience that some Chinese platforms now accept payments via Naira cards, reinforcing the idea that the Naira is gaining acceptance abroad.

The spokesman also noted the political significance of this milestone, saying, “El-Rufai, veteran runner Atiku Abubakar, and Peter Obi will never celebrate this development. They are waiting for disasters to vent their political frustration on President Tinubu.”