Nigerian Citizen Begs Bawumia And Ofori-Atta To Help Rescue The Naira As Cedi Starts Rising

• A Nigerian has made a hilarious appeal for two of Ghana's top economic big shots to help naira appreciate
• This follows the cedi‘s appreciation against the dollar after falling heavily weeks earlier
• Although Ghana's receipt of a $750 million loan helped prop up the falling cedi, many believe Dr Mahamudu Bawumia and Ken Ofori-Atta have been busy behind the scenes

Following the cedi's marginal rise against the dollar this week, a Nigerian citizen is appealing to two of Ghana's economic gurus to help the naira appreciate.

Ebri Ubangha wants Ghana's Finance Minister, Ken Ofori-Atta and Vice President Mahamudu Bawumia to bring their expertise to bear on the local Nigerian currency.

According to him, the naira has been battling with depreciation much longer than the cedi. The cedi's woes started in January 2022.

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"Please sir still down to rescue naira from its long time fall and illness," Ebri appealed in the comments section of YEN.com.gh's Facebook post on the cedi's appreciation.

Cedi Appreciates Marginally To The Dollar

The Ghana cedi started the last quarter of this year on a high note as it appreciated marginally against the dollar at forex bureaus monitored by YEN.com.gh on September 1, 2022.

After selling at GH¢10.11 to $1 two weeks ago, the cedi demonstrated resilience by selling at GH¢9.98 to the dollar on the forex market as of September 1.

The cedi also picked up slightly on the interbank market, selling at GH¢8.2366 to $1.

Although the marginal appreciation of the cedi has been attributed to some $750 million that hit the accounts of the Bank of Ghana last week, the finance minister and vice president have been busy behind the scenes.

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The money is a loan from the Africa Export-Import (Afrexim) Bank.

Akufo-Addo Backs Underfire Ofori-Atta To Turn Around Current Economic Crisis

Meanwhile, Akufo-Addo has, in the strongest terms, endorsed Finance Minister Ken Ofori-Atta despite intense calls for his removal.

According to the President, the Minister’s economic credentials and expertise put him in a position to take the country out of the current economic mess.

Recently, calls have intensified for the President to reshuffle his Ministers. Standing tall on that list is the Finance Minister, who some believe lacks the ideas to herald the country into economic transformation.

Source: YEN.com.gh