Forex Policy: Buhari Dashes Importers’ Hope On Reversal

Forex Policy: Buhari Dashes Importers’ Hope On Reversal

Patrick Aigbokhan
Operations may not go well for Importers of the 41 select items barred from the official foreign exchange market by the Central Bank of Nigeria, as the Federal Government on Wednesday foreclosed the possibility of an early reversal of the policy.
During his maiden “Presidential Media Chat” on television, President Muhammadu Buhari had declared, “We have our priorities; to provide money to fund the projects we have already outlined and not for those who want hard currency to import textile and toothpick,”
While answering question on the possible devaluation of the naira, the President stated, “I will not support devaluation of the Naira. I need to be convinced that there is need for the country to devalue the Naira. Is it against the dollar or pound?”
He stressed that his administration would not condone unbridled importation of goods into the country.
Buhari also spoke on the fight against corruption, justifying the long detention of some former top government officials arrested for corruption
“Technically, if you see the type of atrocities these people have committed against the republic, against the country, when you think about it, you can’t allow them to jump bail,” he said
While making a direct reference to the former National Security Adviser Sambo Dasuki, the President said, “Technically if you see the kinds of atrocities those people committed against the country. If they jump bail, see the former President wrote to the Governor of Central Bank and said give N40billion to so so and so, and then he gives account and you release him to go and see his doctors in London, while about two million IDPs don’t even know their parents; what kind of country is that?
“And the one you are calling Kanu, do you know he had two passports, one Nigerian, one British, and he came into the country without any. Do you know he brought an equipment into this country and was broadcasting, Radio Biafra; which kind of government do you think should harbor that kind of person? There is a treasonable felony against him and and I hope the court will listen to the case.”
Speaking on issues of the insurgency and the abducted Chibok girls, the President said the Federal Government was open to negotiating with credible leaders of the Boko Haram sect.
“We want to be sure that the girls are complete, safe and sound before we attempt any form of negotiation on the girls. We are still keeping our options open. If a credible leadership of Boko Haram is ready for negotiation without any condition we are ready to listen to them,” Buhari said.