President Muhammadu Buhari, has subtly confirmed the allegations made by the Senate President, Bukola Saraki, affirming the existence of “a government within the government of President Buhari, which has seized the apparatus of Executive powers, to pursue a nefarious agenda”.
Recall, that Saraki, who is facing trial for alleged forgery of the Senate Rules, accused the Executive of being the architect of his travails.
In a swift response, the Senior Special Adviser on Media and Publicity to the President, Mr. Femi Adesina, debunked the claims made by the Senate President, stating that there was no substance to the allegations.
However, President Buhari on Monday, June 27, dropped a hint on those who Saraki might be referring to, as the cabals within his government.
The President, while addressing members of the Nigerian Business Community at the Presidential Villa, Abuja, after the breaking of the Ramadan fast, expressed displeasure in the decision of the Central Bank Governor, Godwin Emefiele, to opt for a flexible exchange rate, without his full approval.
This according to political observers, reflects a situation where some persons within the presidency, have been taking decisions on behalf of the President, and a confirmation of the claims made by the Senate President.
Buhari, while expressing displeasure about the activities of the CBN, said: “I don’t like the returns I get from the CBN concerning the devaluation of the Naira.
“In August 1985, the Naria was N1.3 to a dollar, but now you need N300 or N350 to a dollar.“What do we derive from that? How much benefit can we derive from this ruthless devaluation of the Naira.
Recall, that the decision to opt for a flexible exchange rate policy, was taken at the time the President was away on his 14 day medical vacation in London.
The President further added: “I’m not an economist, neither a businessman, I fail to appreciate what the economic explanation is.
“What has happened to us now, is that we have maneuvered ourselves into mono-economy, which led to the collapse we are seeing now”.
He however, said that to get Nigeria out of these mess and employment crisis, the Business Community should explore diverse means of creating jobs, as government cannot do it alone.
An economic expert, Henry Boyo, in his latest analysis on the state of the economy, has predicted a further hike in petrol price and electricity tariff, considering the current exchange rate policy adopted by the CBN.
According to him, with the depreciation of the naira to N280-N285 to the dollar, occasioned by the CBN’s latest decision, there is no way marketers can sustain the importation and dispensation of petrol at N145 per litre.
Those who were present at the Business Community Meeting are: Chief Femi Otedola, Alhaji Aliko Dangote, Mr. Tony Elumelu, Mr. Wale Tinubu, Mrs. Folorunsho Alakija, among several others.
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