Skip to main content

Buhari angry with CBN for ‘ruthless devaluation of the Naira'


President Muhammadu Buhari is unhappy with the Central Bank of Nigeria, CBN, over what he called ”the ruthless devaluation of the Naira.”While speaking at the Ramadan breaking of fast with members of the business community ,on Monday, the president condemned “the ruthless devaluation of naira,’’ saying that he was yet to be convinced about the economic benefits of the exercise.He said 
“How much benefits have we derived from naira devaluation in the past?

“I don’t like the returns I get from the CBN because that coupled with the demand that let us devalue the naira. In August 1985, the naira was N1.3k to a dollar, now you need N300 or N350 to a dollar.“What do we derive from that, how much benefit can we derive from this ruthless devaluation of the naira?“I’m not an economist neither a businessman, I fail to appreciate the economic explanation.“What has happened to us now is that we have maneuvered ourselves into a mono-economy which led to the collapse we are seeing now.“A lot of responsibilities now fall on your shoulders. You have a lot of investments, a lot of people you employ,’’ he told the businessmen.

Comments

Post a Comment

Popular posts from this blog

Davido’s son- Ifeanyi Adeleke is dead.

Popular   Nigerian music star , Davido and his fiancée Chioma Rowland have just lost their child, Ifeanyi Adeleke.  Ifeanyi Adeleke died on Monday, October 31. According to information reaching the blogs , Ifeanyi Adeleke got drowned a few days after his   third birthday   which was on October 20. He was conformed dead this evening at Evercare hospital, Lagos.  This is extremely sad. 
Post a Comment
Read the rest of this entry »

The booty on this guy though...I'm still squatting to get there 18+

Oh Lawd! Kent believe this , all the gym and sh*t to get this body goal and then a guy has this .... hahahaha...  Penis in front, big booty behind lol. This dude is so curvy, shii is scary. See more photos
Post a Comment
Read the rest of this entry »

Introducing Tizeti Enterprise Solutions- {wifi.com.ng}.

1. DEDICATED SCALABLE ON DEMAND UNLIMITED INTERNET Our enterprise solution delivers the best internet experience, you will be on dedicated wireless radios from our base station to your location, ensuring maximal bandwidth optimization. The plan is a true unlimited plan without data caps or throttling, you can stream and/or download as many terabytes as your storage can allow in the period of your active subscription.Bandwidth is tailored according to your budget and needs, we can provide from 1Mbps to  1gbps (gigabit internet) . Key Features and Benefits:
Post a Comment
Read the rest of this entry »