Ben Murray-Bruce, a former Senator from Bayelsa East and a Peoples Democratic Party (PDP) chieftain, has praised President Bola Tinubu for floating the Naira.
According to media reports, the Central Bank of Nigeria (CBN) granted commercial banks the flexibility to trade foreign money at any rate on Wednesday, June 14.
According to sources, trades are currently running for as much as N750/$1, a situation that occurred just a few days after CBN Governor Godwin Emefiele was suspended.
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According to the Daily Trust, many sources, mostly traders, stated that Nigeria now has a freely floating exchange rate and that watchers are looking forward to the end of trading at the FMDQ, when data would be available to corroborate the transition.
Ben Bruce stated on Twitter on Wednesday that Tinubu is Nigeria’s first President with a financial background.
According to him, those who routinely visit the presidential villa at night to obtain import duty exemptions and phony commercial dealings will no longer be able to do so.
He wrote: “President Bola Tinubu, @officialABAT, is the first President of Nigeria with a Financial background.
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“Let me tell our 419 businessmen some hard truths. Your days of going to the villa at night to get import duty exemptions, tax waivers, fraudulent judgement claims and bogus business deals are over.
“Focus on legitimate business deals. Tinubu will not pick a winner like past Presidents. This time you will have to earn your position in the Nigerian Economy.”
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