Osinbajo Clarifies Views On Exchange Rate
Oct 13, 2021 ·
58s
Vice President Yemi Osinbajo says that he is not calling for the devaluation of the naira contrary to some reports that trailed his speech at the opening session of the...
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Vice President Yemi Osinbajo says that he is not calling for the devaluation of the naira contrary to some reports that trailed his speech at the opening session of the mid-term ministerial performance review retreat at the presidential villa, Abuja.
Osinbajo in a statement says he rather advocates a forex policy to curb corruption.
The Vice President says those who have access to the dollars at N410 turn round to sell it were benefiting from the current exchange rate.
He says the Naira exchange rate benefits only those who are able to obtain the dollar at N410, some of who simply turn round and sell to the parallel market at N570.
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Osinbajo in a statement says he rather advocates a forex policy to curb corruption.
The Vice President says those who have access to the dollars at N410 turn round to sell it were benefiting from the current exchange rate.
He says the Naira exchange rate benefits only those who are able to obtain the dollar at N410, some of who simply turn round and sell to the parallel market at N570.
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