Exchange rate arbitrage under Buhari pure corruption: Tinubu
President Bola Tinubu, on Thursday, described the exchange rate arbitrage under the watch of his predecessor, former President Muhammadu Buhari, as the grandparents of corruption.
“How fast could you have reconstructed this country if you allow the arbitrage in exchange rate to continue? That is the grandmother, father of corruption.”
“Through our Renewed Hope Agenda, our administration pledged to tackle economic instability, improve insecurity, reduce corruption, reform governance and lift our people out of poverty,” Mr Tinubu said at the All Progressives Congress national summit on Thursday.
To bolster his point on the massive corruption perpetrated under Mr Buhari’s watch, Mr Tinubu referred to the swathes of properties recovered from former Central Bank governor, Godwin Emefiele, by the Economic and Financial Crimes Commission.
“You could see EFCC recovering over 750 houses from one person locally here,” Mr Tinubu said, adding that we have eliminated corrupt-laden arbitrage and fuel subsidy regime.
MrTinubu’s statement comes two years after he succeeded Mr Buhari, who touted himself as an anti-corruption crusader.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Rights
UTME: JAMB’s AI plan could exclude visually impaired candidates, CITAB warns
Mr Fenemigho, however, warned that without deliberate preparations, the initiative could remain an ambitious idea rather than a project.
Sport
FIFA, Adidas unveil 2026 World Cup final match ball
The match ball is inspired by the FIFA World Cup trophy, featuring a striking white, black, and gold design.
Heading 4
Tinubu directs probes of X, Meta over alleged exploitation of news content
Mr Ijagwu said that under the new investigation, areas of interest include allegations of market dominance and potential anti-competitive conduct.
Heading 1
Tinubu hails Nigerian Army’s role in national, regional security
Mr Tinubu said the army’s contributions have safeguarded Nigeria’s sovereignty while strengthening peace and stability across Africa and beyond.
Education
Security agencies working to rescue abducted pupils, teachers, Oyo govt tells families
The state government said in a statement on Monday that it remained fully committed to ensuring the victims’ safe return to their families.
Sport
2026 World Cup: ‘You’ve been trying to kill me for 23 years,’ Ronaldo tells journalists
Ronaldo condemned some journalists who have taken pleasure in casting a harsh spotlight on him, saying it had been the same since he was 18 years old.
