TMV Hails New Naira-Only Policy For NIMASA, NPA As Boost To Local Currency

Abuja, Nigeria – The Tinubu Media Volunteers (TMV) have applauded the new directive requiring the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Ports Authority (NPA) to collect fees and levies exclusively in Naira, claiming that it will significantly strengthen the local currency.

In a statement, TMV Chairman Chukwudi Enekwechi and Secretary Sunday Shedrach Gyungoun described the policy as a “novel initiative” that will increase the Naira’s value against other currencies.

“This policy will prioritise the use of Naira in international business transactions, reducing pressure on the foreign exchange market,” the statement said.

TMV noted that the directive is consistent with President Bola Ahmed Tinubu’s upcoming Economic Stabilisation Bill, emphasising its potential to strengthen the Naira’s position in global transactions.

“We recall that prior to the Tinubu administration, these agencies charged in dollars; however, with the new policy, the Nigerian currency will be given pride of place in global business transactions,” TMV stated.

The organisation expressed confidence that the move will free the Naira from the volatility of the foreign exchange market, giving it a much-needed boost in value.

TMV also cited the recent directive for Nigerian National Petroleum Company Limited (NNPCL) to sell crude oil to local refineries in Naira as another step towards strengthening the national currency.

The group concluded by expressing hope that NIMASA and NPA will fully and efficiently implement the new directive.