President Buhari Allegedly Not Happy With Devaluation Of The Naira By CBN

President Muhammadu Buhari is allegedly not happy with the Central Bank of Nigeria over what he called “ the ruthless devaluation of the naira.

The president said :

“I don’t like the returns I get from the CBN concerning the devaluation of the Naira. In August 1985, the Naria was N1.3 to a dollar but 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 what the economic explanation is. What has happened to us now is that we have maneuvered ourselves into mono-economy which led to the collapse we are seeing now”.

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