The presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu on Tuesday, criticised President Buhari Muhammad Buhari’s recent currency redesign policy and the country’s foreign exchange (FX) rate management system while speaking at his party’s campaign rally in Cross River State.
9news Nigeria reports that the rally was held at the UJ Esuene Stadium in Calabar, Cross River’s capital.
The former Lagos state governor criticised the recent currency redesign policy and the rapid depreciation of the naira.
He said when the present government took over in 2015, the naira/dollar exchange rate was about N200 to a dollar but it has depreciated to about N800/$ at the parallel market.
The two developments Tinubu spoke about at the campaign rally occurred under the President Muhammadu Buhari-led administration.
“Don’t let them lie to you about change of currency. They have never understood what inflation is about,” the APC presidential candidate said.
“They never understand (sic) what money laundering is all about.
“To change and the torture moved the exchange rate from 200 to 800. If they had repaired it, if they had arrested this, we won’t be where we are today. We will be greater. They don’t know the way, they don’t know how to think, they don’t know how to do.
“I say, follow me. Are you going to follow me? Are you going to vote for me?”