N200 Per Dollar: FG Has Not Approached Me – Ifeanyi Ubah



Chairman, Capital Oil and Gas Limited, Mr. Ifeanyi Ubah, has disclosed that in addition to his plans to force a reduction in the dollar exchange rate, he has designed a template to boost Nigeria’s Internally Generated Revenue, IGR, by 30 per cent.

In a press statement in Abuja, Ubah also stated that contrary to reports, he is yet to be approached by the Federal Government as regards the foreign exchange (forex) issues.

Commenting on his new initiative, Ubah said, “It may also interest Nigerians to know that my team and I have also been working tirelessly on a number of issues aimed at fostering the growth and development of Nigeria and her economy.

“We have designed two templates/systems on how Nigeria’s Internally Generated Revenue can be grown by 30 per cent guarantee. However, we have decided to push our concepts and strategies out in phases. This will come in the next phase of our intervention scheme. I leave this in the hands of Nigerians and for posterity to judge.”

Ubah wondered why the leadership of the country had shown no real interest in addressing the challenges currently facing the country, while he accused them of politicizing issues of national importance.

He said: “My pertinent question remains: If the current leadership really cares about Nigeria and Nigerians, why haven’t sincere efforts been made to curb this menace? I have volunteered to serve and vowed to commit everything I have and possess to the success of this cause.

“However, it is distasteful to note that ever since I made an appearance on television on the 21st of February, 2016, the relevant authorities saddled with the responsibility of saving our economy would rather play politics with the issue – an occurrence that is far too frequent and way too detrimental.”

He reiterated that his determination to salvage the Nigeria economy from the doldrums was for the sake of posterity and also for the interest of all Nigerians. According to him, the desire/motivation to intervene in the current state of affairs in the country emanates from the deep concern I have for the masses and I remain resolutely committed to the Nigerian people, whom I pursue this genuine cause for.

He noted that he does not have much need for the dollar in carrying out his businesses, but that his loyalty rests with those traders who cannot import anymore because of this outrageous hike in the exchange rate.

He said, “My concern lies with those parents who cannot afford to pay the school fees of their children studying abroad or the sick, who on health grounds travel abroad, but find the prices to be paid for treatment too steep as a result of the exchange rate. I am worried for those ICT professionals who need software from foreign countries but have to pay double as a result of the freefall of the Naira.”

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