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Sunday, October 1, 2023

Forex: I refused to stick to bad policy to save Nigeria – Tinubu

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President Bola Ahmed Tinubu has said he could have been a beneficiary of the policy of multiple foreign exchange but chose to unify the official and parallel market rates to save the country from financial crisis.

His position was contained in a statement by Dele Alake, the Special Adviser, Special Duties, Communications and Strategy to the President.

He said Tinubu was speaking at a civic reception organised in his honour by the Lagos State Government at the Lagos House, Marina.

Tinubu said he decided that forex unification was to save the nation, just like he did with fuel subsidy removal.

“I could afford to share the benefit by participating in the arbitrage, but God forbid! That’s not why you voted for me,” he said.

The President said it was imperative to take those decisive actions in the early days of his administration.

“We need to stop the bleeding of our finances through speedy action on fuel subsidies. We have no choice,” he said.

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