Why I Chose To Unify Exchange Rate, Refused To Partake In Arbitrage Says Tinubu

President Bola Ahmed Tinubu has said he could have chosen to maintain the previous multiple foreign exchange rates and benefit from it but instead, he decided to unify the official and parallel market rates to save the country from financial bleeding.

President Bola Ahmed Tinubu has said he could have chosen to maintain the previous multiple foreign exchange rates and benefit from it but instead, he decided to unify the official and parallel market rates to save the country from financial bleeding.

President Tinubu said he took the decision in the nation’s best interest just like he did with fuel subsidy removal.

He stated this at a reception organised in his honour by the Lagos State Government at the Lagos House, Marina.

The President said it was important to take those decisive actions in the early days of his administration.
He also explained that his administration decided to stop the immediate payment of subsidy on petrol in the nation’s best interest.