The former Senator representing Bayelsa East and a chieftain of the Peoples Democratic Party (PDP), Ben Murray-Bruce, has applauded President Bola Tinubu for floating the Naira.
OsunDailyNG earlier reported that the Central Bank of Nigeria (CBN) on Wednesday, June 14, reportedly granted commercial banks freedom to trade foreign exchange at any rate.
Sources also claimed trades are now going for as high as N750/$1, a development that happened a few days after the suspension of CBN Governor, Godwin Emefiele.
According to Daily Trust, multiple sources who are mostly traders also confirmed Nigeria is now operating a freely floating exchange rate and that observers are looking forward to the close of trading at the FMDQ when data will be available to confirm the move.
In a post via Twitter on Wednesday, Ben Bruce said Tinubu is the first President of Nigeria with a financial background.
According to him, it would no longer be business as usual for those that frequently visit the presidential villa at night to get import duty exemptions and bogus business deals.
He wrote: “President Bola Tinubu, @officialABAT, is the first President of Nigeria with a Financial background.
“Let me tell our 419 businessmen some hard truths. Your days of going to the villa at night to get import duty exemptions, tax waivers, fraudulent judgement claims and bogus business deals are over.
“Focus on legitimate business deals. Tinubu will not pick a winner like past Presidents. This time you will have to earn your position in the Nigerian Economy.”
