Isa Yuguda, former governor of Bauchi State and former Aviation Minister, has shared his thoughts on the floating of the naira policy.
In a report recently shared by The Sun, Yuguda explained that the government cannot be expected to control the buying and selling of dollars if there are no dollars available to sell. He said the Central Bank of Nigeria (CBN) does not have enough dollars in its reserves. He explained that this shortage of dollars in the CBN’s vault makes it difficult for the government to support the value of the naira.
Yuguda stated that it is unrealistic to expect President Bola Tinubu to somehow produce dollars to meet the market demand because the country simply does not have enough. He also spoke on other challenges the country is facing in the aviation sector
In Isa Yagudu’s words: “Did the country expect Tinubu to go and start digging somewhere and bring dollars to sell to the market?”….Sée Móre
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