Monday, July 20, 2026

$1/N10,000 Claim: Redeemed Pastor Adeboye blames petrol importers for naira’s free fall

At the parallel market on Friday, the naira is N1,745 to one $1.

• November 15, 2024
Pastor Adeboye addressing his congregants; stash of dollars
Pastor Adeboye addressing his congregants; stash of dollars

Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God, has claimed his intervention prevented Nigeria’s naira from exchanging N10,000 for one dollar, accusing petrol importers of causing the currency’s woe.

Speaking at a recent Abuja Holy Ghost Congress, Mr Adeboye said, “Before our president came in, everybody knew that the reason we were having financial problems – we have been having it o, before he came in – is the fact that a lot of money was being spent to import petrol.

“Ah! How can we be importing petrol where we have this thing in abundance here? We spent billions of naira on our refineries, they didn’t work. So we can be able to keep on importing.”

The so-called man of God claimed that fuel importers were upset with President Bola Tinubu’s decision to do away with petrol importation by removing the petrol subsidy.

“That’s why when the president came in, the very first day he came, he said this money that they spend in importing petrol, he says he cancelled it. We were all rejoicing, thank God. But some people were angry, those who were making money from importing petrol. Then they decided okay, we will create a problem,” Mr Adeboye told his congregants. 

The RCCG spiritual leader added, “Then all of a sudden, naira began to go down, fast. I cried to my people, let us pray. Thank God some people joined me in praying. Because the way naira was going then, if God had not intervened, by now, 1$ would be about N10,000.

“But God stepped in. Just to show you that we need prayers. And you know this has nothing to do with politics, I’m not a politician and I will never be one. That’s not my calling.”

The naira has been in free fall since Mr Tinubu assumed office following his exchange rate unification. 

At the parallel market on Friday, the naira is N1,745 to one $1.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Young Progressives Party

Heading 5

2027: YPP unveils Lagos secretariat 

Mr Filani said the party was committed to rescuing Nigeria through purposeful leadership.

Yamal, Messi, Mbappe

Hot news Home top

Spain, Argentina, France top FIFA rankings 

Spain moved up one place to displace Argentina from the top spot.

Sokoto trains livestock farmers on artificial insemination

Agriculture

Sokoto trains livestock farmers on artificial insemination

Mr Abubakar said the initiative would strengthen breeders’ capacity.

NAFDAC nabs two fake alcohol merchants in Lagos

Heading 5

NAFDAC nabs two fake alcohol merchants in Lagos

He urged operators dealing in regulated products to comply with all NAFDAC regulatory requirements.

Police nab 147 suspected criminals in Lagos

Lagos

Police nab 147 suspected criminals in Lagos

The operatives targeted criminal hideouts across the state on Sunday, July 19, 2026.