I may have benefited from the various exchange rates. Tinubu

Tinubu stated that he harmonised the exchange rates in order to save the country from financial ruin.President Bola Ahmed Tinubu has once again justified his choice to unify the official and parallel market rates, claiming that he could have continued to benefit from the previously different foreign exchange regimes.The President made the announcement while addressing during a civic celebration hosted in his honor by the Lagos State Government on the evening of Thursday, June 29, 2023, at the Lagos House, Marina. Tinubu noted that his choice to float the currency, like his decision to remove fuel subsidies, was in the best interests of the nation in a statement issued by his Special Adviser on Special Duties, Communications, and Strategy, Dele Alake. "I could afford to share the benefit by participating in the arbitrage, but God forbid! That's not why you voted for me," he said The President said it was imperative to take those decisive actions in the early days of his administration, adding that "We need to take the steps to stop the bleeding of our finances through speedy action on fuel subsidy. We have no choice,". Tinubu said as a way of ensuring good use of available resources, the government would "re-engineer the effectiveness of the control and management of our resources in order to meet the obligations to Nigerians by political officeholders."