President Bola Tinubu, speaking in Lagos on Thursday, expressed that although he had the option to maintain the multiple foreign exchange systems in place when he assumed office and personally benefit from it, he chose instead to unify the official and parallel market rates.
His decision aimed to prevent financial losses for the country. Tinubu made these remarks during a civic reception organized by the Lagos State Government.
He emphasized that he did not engage in arbitrage to capitalize on the situation, stating that it was not the reason he was elected.
Tinubu’s Special Adviser, Dele Alake, released a statement explaining the president’s stance on unifying exchange rates and rejecting arbitrage.
Tinubu highlighted that these measures were necessary to address the financial challenges faced by the nation.
He also stressed the need to effectively manage available resources and meet the obligations to Nigerians.
Tinubu sought the support of the attending governors in working towards equitable development in the country. He expressed a commitment to an open-door policy and working together to revive the economy and transform Nigeria.
Lagos State Governor, Babajide Sanwo-Olu, praised Tinubu’s competence in managing human and financial resources, acknowledging his potential to improve Nigeria’s economic fortunes.
