The Nigerian Presidency has hailed a significant milestone in the country's economy, declaring that the US dollar is no longer the unchallenged king over the naira. This development comes amid reports that Chinese traders are now accepting naira cards for transactions, reflecting growing confidence in Nigeria's currency following recent economic reforms.
President Bola Tinubu’s spokesman, Bayo Onanuga, emphasized on social media platform X that these positive changes are a direct result of the Tinubu administration’s reforms, which have restored faith in the naira domestically and internationally. He pointed out that the acceptance of naira cards on Chinese platforms symbolizes a stronger and more respected Nigerian currency.
Onanuga also took aim at opposition figures Atiku Abubakar, Nasir El-Rufai, and Peter Obi, accusing them of refusing to celebrate this economic progress. He claimed they are politically motivated, waiting for disasters to criticize President Tinubu’s administration rather than acknowledging the evident gains.
While the Nigerian Naira has experienced fluctuations against the US dollar, with exchange rates around ₦1,500 to ₦1,550 per dollar in 2025, these emerging signs of international acceptance suggest progress toward greater currency resilience and global presence.