{"id":110979,"date":"2024-02-19T21:00:56","date_gmt":"2024-02-19T20:00:56","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku"},"modified":"2024-02-19T23:31:32","modified_gmt":"2024-02-19T22:31:32","slug":"economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku","title":{"rendered":"Economic hardship: Your attempt to rubbish foreign exchange policy has failed \u2013 Presidency replies Atiku"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Presidency, on Sunday, said the attempt by former Vice-President, Atiku Abubakar to rubbish the foreign exchange policy of the government has failed.<\/p>\n

It said the Central Bank of Nigeria, CBN, was currently implementing policies to stabilise the Naira.<\/p>\n

Atiku had recently said the Forex policy of the present administration under President Bola Tinubu failed because it was hurriedly put together without consulting relevant stakeholders.<\/p>\n

However, responding to Atiku\u2019s claim in a statement at the weekend, Bayo Onanuga, Special Adviser to the President on Information and Strategy, said Atiku got his facts muddled up.<\/p>\n

According to him, \u201cFormer Vice President, Atiku Abubakar, in an attempt to rubbish the foreign exchange policy of the Tinubu administration got his facts muddled up again. He also failed to prescribe a better Policy Option to what Governor Olayemi Cardoso and his team are executing at the apex bank.<\/p>\n

\u201cFirst of all, it wasn\u2019t true that President Tinubu\u2019s meeting last Thursday with the 36 State Governors was centred on discussing foreign exchange crisis and currency fluctuation.<\/p>\n

\u201cWhat was discussed in the main was food supply and how to drastically reduce the food prices.<\/p>\n

\u201cContrary to former VP Atiku\u2019s claim, Cardoso\u2019s CBN is implementing a raft of policies to stabilise the Naira and end volatility in the market and this is already yielding some positive results.<\/p>\n

\u201cJuxtaposed with the policy options being implemented by the CBN, Atiku\u2019s alternative of a controlled floatation of the Naira is similar to the policy of Godwin Emefiele, when an estimated $1.5 billion was spent monthly to shore up the Naira, while arbitrage or round tripping went on unhindered. Sadly, it was perpetrated by people close to the corridors of powers.\u201d<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Presidency, on Sunday, said the attempt by former Vice-President, Atiku Abubakar to rubbish the foreign exchange policy of the government has failed. It said the Central Bank of Nigeria, CBN, was currently implementing policies to stabilise the Naira. Atiku had recently said the Forex policy of the present administration under President […]<\/p>\n","protected":false},"author":84,"featured_media":110978,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,316,254,158],"class_list":["post-110979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-atiku","tag-nigeria","tag-presidency"],"yoast_head":"\nEconomic hardship: Your attempt to rubbish foreign exchange policy has failed \u2013 Presidency replies Atiku - Nigeria<\/title>\n<meta name=\"description\" content=\"The Presidency, on Sunday, said the attempt by former Vice-President, Atiku Abubakar to rubbish the foreign exchange pol ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic hardship: Your attempt to rubbish foreign exchange policy has failed \u2013 Presidency replies Atiku\" \/>\n<meta property=\"og:description\" content=\"The Presidency, on Sunday, said the attempt by former Vice-President, Atiku Abubakar to rubbish the foreign exchange pol ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-19T20:00:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-19T22:31:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/02\/sm_1708365489.634143.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Economic hardship: Your attempt to rubbish foreign exchange policy has failed \u2013 Presidency replies Atiku\",\"datePublished\":\"2024-02-19T20:00:56+00:00\",\"dateModified\":\"2024-02-19T22:31:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku\"},\"wordCount\":310,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/02\/sm_1708365489.634143.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Atiku\",\"Nigeria\",\"Presidency\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economic-hardship-your-attempt-to-rubbish-foreign-exchange-policy-has-failed-presidency-replies-atiku\",\"name\":\"Economic hardship: Your attempt to rubbish foreign exchange policy has failed \u2013 Presidency replies Atiku - 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