₦airaland Forum

How NSA Ribadu Helped Stabilise Nigeria’s Currency — Cardoso

Nigeria’s National Security Adviser (NSA), Mallam Nuhu Ribadu, has been credited with playing a critical role in stabilising the country’s currency during a period of intense economic pressure.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, made this known during a high-level security engagement held in March, jointly organised by the CBN and the Office of the National Security Adviser.

Mr. Cardoso explained that the NSA was instrumental in mobilising key government agencies to tackle the multifaceted threats undermining the Naira and the broader financial system.

“I really want to commend the commitment of the National Security Adviser,” Cardoso said.

“I want to say something that perhaps has not been said before, for various reasons. At a particularly challenging time—about a year ago—when the currency situation was becoming very difficult, we approached the NSA. There were several developments we did not fully understand at the time.

“He took it upon himself to convene a coalition of relevant agencies—the security forces, EFCC, Customs, and the CBN. I recall vividly that on a Sunday afternoon, under his leadership, we all met at his office for an extensive discussion.

“Mr. President was out of the country at the time. Upon his return the following day, we presented our findings to him. What followed from that engagement contributed significantly to the stability we are now witnessing. And I must stress that when I speak of stability, I mean genuine, sustained stability.”

Before the NSA’s intervention, Nigeria faced serious challenges to currency stability. These included volatile global oil prices, widespread crude oil theft and pipeline vandalism, reduced dollar inflows, hoarding, and rampant speculative trading in foreign exchange markets.

Mr. Cardoso further expressed his appreciation for the consistent support the CBN has received from the NSA’s office.

“The support we have received from the NSA’s office has been pivotal to our currency’s recovery. It has been truly invaluable, and we remain deeply grateful to Mallam Ribadu and his team for their unwavering cooperation,” he said.

Comedians

Oluwabash:
How NSA Ribadu Helped Stabilise Nigeria’s Currency — Cardoso

Nigeria’s National Security Adviser (NSA), Mallam Nuhu Ribadu, has been credited with playing a critical role in stabilising the country’s currency during a period of intense economic pressure.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, made this known during a high-level security engagement held in March, jointly organised by the CBN and the Office of the National Security Adviser.

Mr. Cardoso explained that the NSA was instrumental in mobilising key government agencies to tackle the multifaceted threats undermining the Naira and the broader financial system.

“I really want to commend the commitment of the National Security Adviser,” Cardoso said.

“I want to say something that perhaps has not been said before, for various reasons. At a particularly challenging time—about a year ago—when the currency situation was becoming very difficult, we approached the NSA. There were several developments we did not fully understand at the time.

“He took it upon himself to convene a coalition of relevant agencies—the security forces, EFCC, Customs, and the CBN. I recall vividly that on a Sunday afternoon, under his leadership, we all met at his office for an extensive discussion.

“Mr. President was out of the country at the time. Upon his return the following day, we presented our findings to him. What followed from that engagement contributed significantly to the stability we are now witnessing. And I must stress that when I speak of stability, I mean genuine, sustained stability.”

Before the NSA’s intervention, Nigeria faced serious challenges to currency stability. These included volatile global oil prices, widespread crude oil theft and pipeline vandalism, reduced dollar inflows, hoarding, and rampant speculative trading in foreign exchange markets.

Mr. Cardoso further expressed his appreciation for the consistent support the CBN has received from the NSA’s office.

“The support we have received from the NSA’s office has been pivotal to our currency’s recovery. It has been truly invaluable, and we remain deeply grateful to Mallam Ribadu and his team for their unwavering cooperation,” he said.

Oga you dont know your job NSA stabilize currency, he should be the CBN governor then

Parables.

This one doesn't want to lose his job

Stabilised FX from 1 USD to 216 naira to 1 USD to 1680 naira 😁😁

Are these not the folks who expressed rage at N216/$1 congratulating each other for N1500/$1?

Lol.... are these the "technocrats" the certificate forging druggie promised?

gare:
Oga you dont know your job NSA stabilize currency, he should be the CBN governor then

“He took it upon himself to convene a coalition of relevant agencies—the security forces, EFCC, Customs, and the CBN. I recall vividly that on a Sunday afternoon, under his leadership, we all met at his office for an extensive discussion

If you read this part and your brain couldn't comprehend, then you're a dullard.

I thought he was going to say NSA has been borrowing them the millions of dollars they are using to wedge and support the naira.

Cardioso Sha...

He said ' genuine stability " with emphasis on the word genuine. 🤣

zero8zero:
If you read this part and your brain couldn't comprehend, then you're a dullard.

Tell us how convenening that meeting helped the naira.

BeardedMeat:
Tell us how convenening that meeting helped the naira.

Really?, you want me to sit your butt down and Educate you how coordinated efforts by the various agencies helped in tracing and recovering foreign currencies & illicit transactions?. And you will occupy the front page to advertise your ignorance in the name of wailing.

zero8zero:
Really?, you want to sit your butt down and Educate you how coordinated efforts by the various agencies helped in tracing and recovering foreign currencies & illicit transactions?. And you will occupy the front page to advertise your ignorance in the name of wailing.

Stop wailing. Who did they recover foreign currency from?

zero8zero:
If you read this part and your brain couldn't comprehend, then you're a dullard.

So we’re supposed to believe that all that talk actually stabilized the Naira? Let’s be real the Naira is currently at ₦1600 to $1. If those measures had any real impact, we wouldn’t be here.

It’s time to stop taking all that PR spin at face value. If the meetings were so effective, why aren’t they happening regularly? The truth is, real currency stability requires consistent policy actions and economic fundamentals not one-off announcements. If anything, those meetings should be held weekly if they truly made a difference.

zero8zero:
If you read this part and your brain couldn't comprehend, then you're a dullard.

I’ve tried to enlighten you, but now let me be blunt. You’re quick to call someone a dullard, yet you clearly don’t know the first thing you’re talking about. You actually believe those so-called “policy meetings” where they go to collect estacode and take pictures are what stabilized the Naira? Look at the rate today ₦1600 to $1 and you’re still holding onto that fantasy?

Wake up. The Naira isn’t stabilized, and only a zombie would keep parroting that nonsense.

Tinibu

Surrounded by idiots

BeardedMeat:
Stop wailing. Who did they recover foreign currency from?

Ghosts

gare:
I’ve tried to enlighten you, but now let me be blunt. You’re quick to call someone a dullard, yet you clearly don’t know the first thing you’re talking about. You actually believe those so-called “policy meetings” where they go to collect estacode and take pictures are what stabilized the Naira? Look at the rate today ₦1600 to $1 and you’re still holding onto that fantasy?

Wake up. The Naira isn’t stabilized, and only a zombie would keep parroting that nonsense.

You're a dullard, an empty head. The naira fell from 1500 to 1900 within 6weeks in last year April until it eventually recovered. Since then, it began to stabilize gradually. It has stabilized around 1500 since the beginning of this year. The little setback we have as at two weeks ago was as a result of Trump's tariffs policies and NNPCL inability to continue naira for crude sale. And some of these have been settled now. I know you're very dull, there's nothing in that head.

zero8zero:
You're a dullard, an empty head. The naira fell from 1500 to 1900 within 6weeks in last year April until it eventually recovered. Since then, it began to stabilize gradually. It has stabilized around 1500 since the beginning of this year. The little setback we have as at two weeks ago was as a result of Trump's tariffs policies and NNPCL inability to continue naira for crude sale. And some of these have been settled now. I know you're very dull, there's nothing in that head.

It’s people like you that make ignorance look like a virtue. You’re out here celebrating a Naira at ₦1600 as if that’s an achievement are you even listening to yourself? What was the exchange rate before these clueless leaders took over?

You call others dullards, but you can't see the mess right in front of you. Anyone who defends this kind of failure with a straight face isn't just misinformed they're part of the problem. Wake up and stop embarrassing yourself.

gare:
It’s people like you that make ignorance look like a virtue. You’re out here celebrating a Naira at ₦1600 as if that’s an achievement are you even listening to yourself? What was the exchange rate before these clueless leaders took over?

You call others dullards, but you can't see the mess right in front of you. Anyone who defends this kind of failure with a straight face isn't just misinformed they're part of the problem. Wake up and stop embarrassing yourself.

When dollar was 1900 were you not celebrating?, you dullard. I just gave you two factors that have put more pressure on the dollar in the last two weeks, and I also told you some of it have been settled but not everything. That's why Dangote has reduced pump price and Trump has also suspended some tariffs for 90 days. With less pressure on the dollar, the naira is going to rebound. But you have refused to see beyond the empty box on your shoulder, a very empty box.

You met something at 700, you more than doubled the value in less than 2 years and you call that stabilization?

Do you think we’ve forgotten when Tinubu campaigned saying naira would trade for 300 to a dollar before his second year in office?

zero8zero:
When dollar was 1900 were you not celebrating?, you dullard. I just gave you two factors that have put more pressure on the dollar in the last two weeks, and I also told you some of it have been settled but not everything. That's why Dangote has reduced pump price and Trump has also suspended some tariffs for 90 days. With less pressure on the dollar, the naira is going to rebound. But you have refused to see beyond the empty box on your shoulder, a very empty box.

So you are trying to tell us that 1500 stability is better than 216 the APC met it ?

So the Naira is stable now?

kettykings:
Comedians

Short but nice grunt

zero8zero:
When dollar was 1900 were you not celebrating?, you dullard. I just gave you two factors that have put more pressure on the dollar in the last two weeks, and I also told you some of it have been settled but not everything. That's why Dangote has reduced pump price and Trump has also suspended some tariffs for 90 days. With less pressure on the dollar, the naira is going to rebound. But you have refused to see beyond the empty box on your shoulder, a very empty box.

full box how much was the exchange rate when your mentors came on board

Brendaniel:
So you are trying to tell us that 1500 stability is better than 216 the APC met it ?

gare:
full box how much was the exchange rate when your mentors came on board

The naira has been floated, Illiterates.

zero8zero:
The naira has been floated, Illiterates.

was it floated under Buhari that made it rise like soaked garri inside water from 216 to 600?

zero8zero:
The naira has been floated, Illiterates.

if it has been floated why celebrate NSA Olodo

gare:
if it has been floated why celebrate NSA Olodo

Lol, if I called you empty box, you go dey vex.

Brendaniel:
was it floated under Buhari that made it rise like soaked garri inside water from 216 to 600?

Emefiele didn't have enough dollars to defend the naira under Buhari like he did against GEJ.

zero8zero:
Emefiele didn't have enough dollars to defend the naira under Buhari like he did against GEJ.

So what made him not have enough dollars?

Brendaniel:
So what made him not have enough dollars?

Were you living under the rock at the time?, you no get internet connection to dey read news under the rock?