The federal government has said that the depreciation in Naira is the direct consequences of the mismanagement and looting of treasury under former President, Goodluck Jonathan.
Last Friday, the naira exchanged at its worst in history for N260 to $1 in the parallel market. The parallel rate is considered as the real market value of the national currency. “If there was still any honour left among thieves, there is no way the leaders of a party under whose watch the nation’s economy suffered a monumental mismanagement and the Central Bank was turned to the ATM or piggy bank of a few people will have the temerity to insult a government that is working hard to turn things around or the citizens who are bearing the brunt of such mismanagement,” Lai Mohammed, minister of information and culture, said in a statement on Sunday.
“It is now clear to all Nigerians that if the PDP had won the last general elections, Nigeria’s economy would not have survived one more month, considering the battering it received under the immediate past administration. It is therefore unconscionable that those who should show contrition and hunker down to avoid public opprobrium are the same ones pointing an accusing finger at the Buhari administration.”
