Former Vice President ATIKU ABUBAKAR has said that President BOLA TINUBU’s policy of unifying foreign exchange (FX) rates was hurriedly done without proper plans and consultations with stakeholders.

In a statement, ATIKU said with President TINUBU’s new FX policy, the government failed to anticipate the potential and real negative consequences of its actions.

According to him, the Government did not allow the Central Bank of Nigeria the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, regulating demand, dealing with FX backlogs and rate convergence.

The Peoples Democratic Party’s presidential candidate in the 2023 election said he knew that the economy of the country was heading for the ditch at the end of MUHAMMADU BUHARI’s administration.

ATIKU maintained that the policies of the TINUBU administration have continued to cause untold pain and distress to the economy, 

He added that the government has demonstrated sufficient poverty of ideas to redeem the situation.