The Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, on Tuesday, followed up his claim to a magic wand that would firm the Naira to an exchange rate of N200=$1 within 30 days ,with fresh 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, that all he wanted from President Muhammadu Buhari , to achieve the goal, was to be appointed a consultant on Financial Stability, without pay.
According to him, he had a four-point strategy to achieve the extra-ordinary feat but that he would not make them public unless appointed a consultant by the federal government.
His words, “What do we have 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

?

http://www.vanguardngr.com/2016/02/i-ll-name-those-behind-forex-crisis-if-says-ubah/

I think this man may not be far from the truth. Speculators are the problem. The popular story of the monkey dealer comes to mind.

ngeneukwenu come and see o

The AGIP and IPOB youths are beginning to strategize on how to align with the party at the centre.

Sharp Igboman.

Offer the govt. in power a means to assist.

Choose a financial area to assist.

Make a free offer to assist.

Get close to power & know the brokers as you assist.

Leverage on the proximity & contacts from your assist.

And reap the reward of your free assistance by doing business with the govt some other ways.

I trust my people.

This guy is a comedian and sincerely, his jokes about bringing down the N/$ exchange rate is helping to calm down the economic tension.

He made a valid point though, the current exchange rate at the parallel market is artificial and doesn't represent the true value of the naira. At the right time, the cabals manipulating the exchange rate to embarrass the president will be put to shame.

Waiting to see how this movie will end. Great start for now

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?

IPOB Youths Leader!!!

The should arrest him, he is up to blackmail.

You need an appointment before you can help your country

JAkpayen:
If refined crude oil takes 40% of the country's forex reserves, then the oil cabals in conjunction with some bank officials want to sabotage the Nigeria's economy. Ifeanyi Ubah knows much but need government cover and backing.

Absolutely Correct!

hum!!!!

Its now N310 to a Dollar?....

According to politician and businessman, Ifeanyi Ubah, the exchange rate as of this evening has dropped to N310 to $1. According to him, the increase in the dollar rate was being manipulated by some people who will soon be fished out.

www.lindaikejisblog.com/2016/02/its-now-n310-to-dollar.html?m=1


it's the speculators that is making the dollars scares

hmmmmmmm

Be bold UBAH Pls BE BOLD.Name those irresponsible,saboteurs,bastards,thieves that doesn't want dis country to prosper. Pls do us dis Favor Chief,Dr,Otunba Okanlomo Ubah

If what?

Seems like this man knows more than we can imagine
We need economic conference where experts will provide solution to our problems because it is too much for the government to handle. But hell no they rather invest in propaganda than do what is suppose t be done.

Thiz man provokes me shaa ooo..........can't yhu help revive the dying economy of ur state?.....all u can say is if I can be appointed as blah blah blah................

Chai make dollar no appreciate yet o, make e wait small biko....e go be bad market for some pipu

It's [size=15pt]LadyF[/size] again

This man is just seeking for relevance...Perhaps he is among those that have stocked cash dollars in the soak away and ready to return it to bank...Seriously, he should just shussh his mouth and face his business rather than make mockery and public Shame of himself...

Nwannem Ifeco, please don't rescue this guys before they take the glory in what they never imagined could be possible. APC zombies lack common sense and rudimentary economics. Instead of getting economic team they are showing their prowess in media team because of their crush for propaganda.

whats wrong with this noise maker?

Mr Ubah, but some people said it was Buhari's cluelessness...

Wailers will hide their head in shame!!

abegi...

Ok

I don't think Buhari will give this man any appointment, Nigerian journalists would now b his daily visitors until he spills the bean.

I'm not an Economics Guru,but it doesn't take Rocket Science to know that a single individual cannot control the forex market...It used to be the CBN rates that controlled the parallel markets,now the parallel markets are trying to control the CBN rates...the backlash of CBN hoarding the dollars. Trying times, but we will get through this..#say no to devaluation#

Sunnycliff:
Nwannem Ifeco, please don't rescue this guys before they take the glory in what they never imagined could be possible. APC zombies lack common sense and rudimentary economics. Instead of getting economic team they are showing their prowess in media team because of their crush for propaganda.

Imagine height of stupidityy.
So u are not affected with the issue on ground. If Nigeria gets better , u would be bittered because a certain party is in power.
Im sure u re still been fed.
Anyway, ask your father what he is going thru now, with the level of hardship in d country. So if someone would save us, i know he won't think shabbily like you.
Omo ode.... Mtcheew

Capital oil is owing it staff 7 month salary. Ubah should find solutions to this first.

The truth of the matter is that Mr Ubah knows the rudimentary code of demand, supply, artificial scarcity and Hoarding.
They use this theory a lot in the fuel retail business, so He knows what is happening.
Mr Buhari is just to clueless and to understand this simple economics since he failed his Waec what do you expect.
The previous policy of rejecting Dollar deposits also helped to worsen the situation.
I hope Mr Buhari listens to real economist and not all his 97+5=100 ministers.


BTW Mr Ubah is just an experienced retailer, so Baba should take his consultations with a pinch of salt so that they would not completely ruin Nigeria's economy on the anambra trial by error economics. I don't also trust this man

Today in lagos dollar sold at 330.00 naira

babydioku:

blackmail who? your thieving dangote and others that threatened that naira will sell for 500 naira to 1 dollar if fuel subsidy is removed?

That is what is happening now.