A former presidential aide, Reno Omokri, has hinted that the country was spending 1.5 billion dollars to defend the naira.
Omokiri made this known during an interview with TVC.
He said that the naira would not be as it was before years ago and those who are dreaming of that should forget it totally.
He said, “[Bringing back the Naira to where it was two or three years ago] is not going to happen. Two or three years ago, the Naira was not floated,” he began.
“So what you had two or three years ago was an artificial Naira. The CBN was spending 1.5 billion dollars every month to give you that rate.
“So stop expecting that you’re to have that same rate of two or three years ago. It is gone forever. That was not a real Naira. That was a Naira that was being spended by the CBN.”
He continued, “We were not spending 1.5 billion dollars on education or infrastructure. We were spending it defending the Naira. That is why we’re where we are today. The Buhari administration technically almost destroyed the country.”
