Finance Minister Wale Edun expressed concern over Nigerians’ loss of faith in the Naira, noting that they are now saving in dollars.
At a recent event in Lagos, he highlighted the recent appreciation of the Naira’s value as a sign of Nigeria’s efforts to strengthen its currency.
Edun mentioned targeting diasporic funds to support the Naira, citing a drop in foreign direct investment to N3.7 billion in 2023.
He emphasized the need to address the lack of confidence in the currency, acknowledging people’s shift towards saving in dollars.