Former Vice President and Presidential Candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has accused President Bola Tinubu’s government of lacking ideas on how to tackle the FX crisis in Nigeria.
He said the government has not offered any concrete ideas on how to bring the country out of the current crisis.The foreign exchange policies of the present government were hurriedly put in place
Atiku Abubakar, added that the way President Bola Tibubu’s government’s FX policy was hurriedly put together is the reason for the present state of things in Nigeria.
Atiku disclosed this on his X handle and insisted that even during a meeting last week to tackle the foreign exchange crisis and the problem of economic downturn, Tinubu could not show any concrete steps to solve the situation of the current fluctuation and poverty in the country.
The former vice president said that Tinubu had told Nigerians and experts telling him how to resolve the crisis. He and his team should not be distracted and be allowed to continue with their policies that have brought untold hardship to Nigerians. Atiku said: “The Government did not allow the CBN the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.
“I firmly believe that if and when the Government is ready to open itself to sound counsels, as well as control internal bleedings occasioned by corruption and poorly negotiated foreign loans, the Nigerian economy would begin to find a footing again.”
According to him, he cannot keep quiet when the wrong policies of the administration continue to cause untold hardship in the economy, stating that the government has shown enough poverty of ideas to save the situation. Atiku recommended measures to ease the pain in the country, adding that he had signed some commitment to rescue the country from the current economic crisis. He said there was a plan to eliminate the multiple exchange rate windows, stating that the system only enriches opportunists, rent-seekers, intermediaries, arbitrageurs, and fraudsters.