A former aide during the administration led by Goodluck Jonathan, Reno Omokri, has stated that former President Muhammadu Buhari’s administration is responsible for the fall of Nigeria’s naira, News About Nigeria reports.
Omokri, who made this statement in a post on his X account, explained that Buhari’s administration engaged in an oil swap in which countries collected money upfront for future oil sales.
He argued that, as a result, the country would not generate revenue from oil sales for the next few months since the former president had already collected the money.
Furthermore, he alleged that Buhari’s regime printed trillions of Naira solely for spending, money that, according to him, lacked backing from production, gold, or dollars.
The former aide also claimed that contrary to what Buhari’s administration had stated, the country had no reserves anywhere.
According to him, Buhari’s administration had borrowed from foreign commercial banks, which is why floating the Naira is essential to salvage the economy.
Omokri also revealed that Buhari’s government had provided their associates with dollars at the official rate, and these individuals had subsequently sold it on the parallel market, profiting without creating any value. He asserted that some of these individuals were close to Buhari, with some even being related to him.
He went on to state that Buhari would have imprisoned Jonathan if the former president had left for him a devastated economy, similar to what he had left for President Bola Tinubu.
Omokri, who made these claims, encouraged Nigerians to research and verify the authenticity of his revelations regarding how Buhari’s administration had adversely affected the Naira.
