"Oil Swap Deal": Reno Omokri Shares Details of How Buhari Allegedly Destroyed Naira
- PDP chieftain, Reno Omokri has claimed that former President Buhari destroyed the Nigerian economy
- The political commentators revealed how Buhari's administration made an oil swap deal, squandered the money and the result was the weakening of the nation's currency, the naira
- He noted that Nigeria's foreign reserves are nowhere where Buhari claimed, and if an attempt is made to "float the Naira, our economy will just collapse, yakata"
Reno Omokri, a former media aide to ex-president Goodluck Jonathan, has revealed the reason why Naira is falling.
Source: Facebook
Omokri reveals how Buhari destroyed the Nigerian currency with crude oil swap deals
The chieftain of the Peoples Democratic Party in a series of tweets shared on his X page, (formerly Twitter) on Friday, October 20, claimed former President Muhammadu Buhari destroyed the naira.
Omokri noted that the Buhari regime did crude oil swaps for future sales, noting that they already collected money in advance from the oil “we are selling today and for the rest of this year ahead of time and spent it.”
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He disclosed that the Central Bank of Nigeria (CBN) cannot defend the Naira with $1.5 billion monthly.
Omokri stated thus:
"Many Nigerians don't even know that the Buhari administration had an oil swap deal in place by which they had collected money upfront for future oil sales. As of today, and for the next few months, Nigeria is not getting income for oil sales. Buhari already collected the money. Please research it. Not done, that regime printed trillions of Naira just like that. Money that was not backed up by production, gold, or dollars. They just flooded the economy with paper that only diluted the Naira already in circulation.
"Even if we want to continue the Buhari regime's practice of defending the Naira with $1.5 billion every month, Nigeria simply does not have the money to do it. If we don't float the Naira, our economy will just collapse, yakata!
Omokri reacts as Sheikh Gumi slams Wike over partnership with Israel
In another development, Reno Omokri reacted to the statement made by controversial Islamic scholar Sheikh Ahmad Gumi.
Omokri, in a series of posts shared on his X page (formerly Twitter) on Thursday, October 19, described Gumi's statement about not trusting Christians with Nigeria's security as "regrettable and disturbing".
The PDP chieftain also maintained that such thought by Gumi was "unfounded".
ABCON ask CBN to allow them crash Dollar via PoS, online operations, others
Legit.ng reported that currency dealers under the aegis of the Association of Bureau de Change of Operators of Nigeria (ABCON) have asked the Central Bank of Nigeria (CBN) to let Bureau de Change operators carry out online dollar transactions and Point of Sale (PoS) agency to boost forex liquidity.
The association asked the apex bank to grant them the regulatory approvals to let BDCs access diaspora remittances via International Money Transfer Operators (IMTOs) proceeds.
Source: Legit.ng
