FORMER Vice President Atiku Abubakar has faulted President Bola Tinubu’s policy of unifying foreign exchange rates.
Atiku on Sunday, said that the policy was hurriedly done without proper plans and consultations with stakeholders.
‘’The government failed to anticipate or downplay the potential and real negative consequences of its actions, the former Vice President said in a statement.
“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.”
Atiku said he knew that the economy of the country was heading for the ditch at the twilight of Muhammadu Buhari’s administration, adding that the Tinubu administration has continued to cause untold pain and distress on the economy.
“The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when, clearly, the government has demonstrated sufficient poverty of ideas to redeem the situation. If the government will not hold on to their usual hubris, there are ways that the country can walk out of the current crisis.
Atiku, who represented the Peoples Democratic Party – PDP, in the 2023 presidential election said that: “after a careful assessment of the state of our economy at the twilights of the last administration, I knew full well that the economy of the country was heading for the ditch and came up with a number of policy prescriptions that would rescue the country from getting into the mess that we are currently in.”
