The Managing Director, MD, of Capital Oil and Gas, Dr. Ifeanyi Ubah, yesterday claimed that naira’s exchange rate was artificially manipulated by people and that the dollar will be N200. Today, he claims that he knew those behind the current foreign exchange crisis facing the nation and was ready to name them publicly.
He told journalists in Abuja, “What do we do to bring the exchange rate to N200=$1? I have four cardinal points but I will not release them. I am a man brimming with confidence and ideas which is why I would dare to make such an audacious wager.
“Since my appearance and statement on Sunday night on Channels TV, Dollar has crashed from N400 to $1 to N370 to $1. Is this not enough evidence that this freefall of the Naira is artificial and could be better managed, with honesty and ingenuity? “Do we have what it takes? It is not about being a professor in school but doesn’t know the chemistry of how a business plays.I know the people who are causing this problem and I can name them. I am fearless.
“I don’t want to be a Minister of Finance.I don’t want to be Governor of CBN. I don’t want any appointment from the federal government. All I want is to be a consultant on financial stability and it will be free of charge.” The Capital Oil MD reiterated that he was ready to stake his entire business empire worth more than N500 billion on the proposal.
According to him, he would be prepared to work with other good spirited, knowledgeable business operators and financial experts, as well as, the Economic and Financial Crimes Commission, EFCC to achieve the goal.
Culled from Vanguard