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President Bola Ahmed Tinubu Thursday in Lagos said he could have chosen to maintain the hitherto multiple foreign exchange systems and benefit from it, but instead opted to unify the official and parallel market rates to save the country from financial hemorrhage.
Speaking at a civic reception organised in his honour by the Lagos State Government at the Lagos House, Marina, President Tinubu said he took the decision in the nation’s best interest just like he did with fuel subsidy removal.
“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.
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The President said it was imperative to take those decisive actions in the early days of his administration.
“We need to take the steps to stop the bleeding of our finances through speedy action on fuel subsidy. We have no choice,” he said.
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