Nigeria deserves Guinness Book of Record for FX rate - Ex-Minister

A former Minister of Finance Kalu Idika says Nigeria’s foreign exchange crisis deserves mention in the Guinness World Records.

The Nigerian naira exchanges for over N1,000 to the dollar at the parallel market, leading to a hike in the prices of commodities.

President Bola Tinubu had recently said he deserves to be in the Guinness World Records for his exploits in becoming president.

But speaking on Channels Television’s Sunrise Daily, the former minister wondered how the country’s currency slipped so fast.

“Now, going back to the issue that you raised about being put in the Guinness Book of Records, maybe the president is right. I don’t think we quite got the extent of his thinking,” he said on Thursday’s edition of the breakfast show.

“If you look at Nigeria with the sheer size of our economy, the sheer size of our population, and the resources we have, we really deserve a Guinness Book of Records.

“How we manage to have an exchange rate depreciate from about 1 to 1 in the eighties to over N1,000. That requires a Guinness Book of Records.”