According to economist and research analyst, Chuba Ezekwesili, Ubah can only achieve this feat if he floods the market with more dollars than the Central Bank of Nigeria has as its disposal.
“Look at the economy, look at the position of the naira today; some of us have ideas on how we can restore this. It won’t take me one month, if Buhari gives me part of that consultancy, and naira would come back to 200,” Ubah said during an interview with Channels TV in February 2016.
“I can bet my life with it, naira would come back to N200. If you call me for that consultancy, I would put naira back to 200,” he added.
However, according to economist and research analyst, Chuba Ezekwesili, Ubah can only achieve this feat if he floods the market with more dollars than the Central Bank of Nigeria (CBN) has as its disposal.
“There’s no way, except he plans on flooding the market with a trillion dollars, and more, constantly, except he has more dollars than the CBN does, then he could,” Ezekwesili said while appearing on Frankly Speaking With Jola Sotubo.
Ubah had also threatened to reveal those behind the forex crisis being experienced in Nigeria.
“As at this evening, the Dollar has dropped further to N310 as against N390 on Sunday evening before my interview on Channels. This shows that the earlier increase has been artificial as some people were manipulating and benefitting from it. They will all be fished out in due course so that Nigeria will be better and the suffering of the masses will end,” the billionaire said while speaking to newsmen in Abuja on February 23.
“With God and our sincere efforts, even when we have not been fully consulted, the Dollar can still be brought down to N200 and below. Let the discourse continue. Shun the Dollar till it’s N200,” he added.
Ubah further urged President Muhammadu Buhari to appoint him as a consultant on financial stability but failed to reveal how he would achieve the above mentioned results.
Watch the interview with economist, Chuba Ezekwesili below: