Former Speaker of the House of Representatives, Yakubu Dogara, has taken a swipe at ex-President Muhammadu Buhari, accusing his administration of wrecking the naira through reckless monetary policies. He claimed that Buhari printed a staggering N22.7 trillion under “ways and means,” which he said completely destroyed the value of the currency.
In a viral video that circulated on Tuesday, Dogara explained that President Bola Tinubu met a “wrecked” economy, worsened by Buhari’s indiscriminate money printing, the controversial dual exchange rate system, and the mortgaging of crude oil for foreign loans.
“By the time President Tinubu took office, the economic debris of this nation had become too conspicuous to be ignored. N22.7 trillion had been printed and injected into the economy in the name of ways and means, thereby destroying the value of the naira in our pockets,” he said.
Dogara also accused Buhari’s government of enabling economic sabotage by creating a dual exchange rate regime that only benefitted a privileged few who accessed forex allocations without contributing anything to the economy. He added that tying crude oil sales to loans under so-called “forward sales” arrangements was fraudulent and unsustainable.
His criticism echoes earlier concerns raised by activist Omoyele Sowore, who in 2022 blasted Buhari and former CBN Governor Godwin Emefiele over the controversial naira redesign, calling it nothing more than a “colour change scam.”
