The Presidency says a controlled floatation of the naira to prevent further devaluation would only return Nigeria to the economic regime of the embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele.
It said the policy, which saw about $1.5bn spent monthly to shore up the naira, fuelled financial malpractices, such as arbitrage which hurt the economy.
The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, made this assertion in a statement he signed Sunday titled, ‘Once again, former Vice President Atiku Abubakar got it wrong.’
Onanuga was responding to a former Vice President and presidential candidate of the Peoples Democratic Party at the 2023 polls, Atiku Abubakar, who argued that Tinubu’s economic policies, especially the unification of the exchange rate, were implemented hastily without adequate planning and proper consultations with stakeholders.
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