A former Nigerian minister of education has said President Muhammadu Buhari’s decision to use a ‘market policy based on command and control’ foreign exchange led to the Nigerian currency losing its value.
Oby Ezekwesili, the leader of the Red Card Movement, was speaking on a Channels Television programme to commemorate the third anniversary of the Buhari government. She also blamed the current administration for plunging the economy into a needless downward spiral by not making “right economic policies” at the right time.
“The exchange policy regime that we have become accustomed to is transparent at all ends because it allows the market to do the adjustments,” Ezekwesili said on Monday.
“The president decided to do an exchange policy that took us to the era of import license, a market policy based on command and control. Read more
