‘They moved exchange rate from N200 to N800,’ Tinubu laments at Cross River rally

Nigeria’s continued currency depreciation against the American dollar has been described as an avoidable situation if the government had arrested the situation earlier.

During his presidential rally in Cross River State, the presidential candidate of the All Progressives Congress (APC) lamented the rise in the exchange rate in the country.

“They moved the exchange rate from N200 to N800. If they had repaired it..we won’t be where we are today,” he said.

According to a short video making the rounds on social media, the former Lagos State Governor expressed optimism over the situation, adding that “We will be greater. They don’t know the way. They don’t know how to think. They don’t know how to do.”

However, Tribune Online gathered that as of May 29, 2015, when the administration of President Muhammadu Buhari took charge of the country’s affairs, the naira-dollar exchange rate was at an average price of N198 to $1 and N220 to $1 black market rate.


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