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Devalue Naira Now, FG Forex Policy Breeding Corruption – Fayose - Politics - Nairaland

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Devalue Naira Now, FG Forex Policy Breeding Corruption – Fayose by lamzybaby: 2:49pm On Feb 21, 2016
Ekiti State Governor, Mr Ayodele Fayose has called for the devaluation of the nation’s currency, the Naira, saying; “With the gap between the
official rate of N199 and open market rate of over N400 to one dollar, Naira has already been devalued. Therefore, President Mohammadu Buhari
must stop deceiving himself and short-changing Nigerians, especially States and Local Councils in the country with his Forex Policy.” Governor Fayose, who said there was no time in the history of Nigeria that the gap between dollar official rate and open market rate was more than N200, pointed out that it made no economic sense for the Federal Government to be calculating the country’s revenue on the basis of the Central Bank of Nigeria (CBN) official rate of N199 to a dollar while States and Local Councils that are sharing the revenue with the Federal Government run their businesses at the open market rate of over N400 to one dollar, thereby causing business to be folding up by the day and prices of goods skyrocketing everyday.

- See more at: http://nigerianpilot.com/devalue-naira-now-fg-forex-policy-short-changing-nigerians-breeding-corruption-fayose/#sthash.SpGRIOlr.dpuf
Re: Devalue Naira Now, FG Forex Policy Breeding Corruption – Fayose by johnmartus(m): 4:13pm On Feb 21, 2016
he just making nuisance of himself

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