My stance against devaluation in 1984 led to my overthrow – Buhari

President Muhammadu Buhari says his decision to kick against the devaluation of the Naira in 1984 led to his ouster from office, The Cable reports.

Buhari said this in Abuja on Friday night at the 2016 regimental dinner organised by the presidential brigade of guards.


Speaking at the event, Buhari said, “I have resisted the devaluation of the naira, increase of the petroleum products, among others.

“When I was military head of state, I rejected similar advice by the IMF and World Bank to devalue the naira.

“I refused and gave my reasons and the next thing I knew I was removed and detained for three and half years.

“As a civilian president, I will do my best and I’m telling you all these because you are part of the leadership of this great country and God willing we will remain great.”

One comment

  1. Mobolaji Macaulay

    Then we need to take the variables that affect forex devaluations seriously as a public policy backed by institutional recommendations as part of government fiscal policy.

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