Ifeanyi Ubah, Managing Director of Capital Oil and Gas, on Thursday, said government officials saddled with fiscal responsibilities should have resigned their appointments amid the current foreign exchange crisis facing the nation. By implication, Ubah was referring to the Minister of Finance, Mrs. Kemi Adeosun and the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele.
He also accused the Finance Ministry and the apex bank of applying only academic fiscal policies rather than practical ones.
Ubah had earlier in the week boasted in an interview of his ability to restore the Naira to N200 per dollar in 30 days, through his magical four-point strategy.
In his words:
“What do we do to bring the exchange rate to N200/$1? I have four cardinal points but I will not release them. I am a man brimming with confidence and ideas which is why I would dare to make such an audacious wager.”
Though he refused to give details on how he intends to achieve the extra-ordinary feat, saying not until the Buhari-led administration appointed him a consultant on Financial Stability, without pay for the love of Nigeria.
According to him, he was prepared to work with other good spirited, knowledgeable business operators and financial experts, as well as, the Economic and Financial Crimes Commission (EFCC) to achieve the goal.
The Oil mogul had bet his assets reportedly worth N500 billion as a wager, if his idea does not bring down the Naira to N200 per dollar.
Ifeanyi Ubah later further came up with fresh claims that he knew those behind the current foreign exchange crisis facing the nation and was ready to unmask them publicly, alleging that some people have been exploiting the situation to their benefits.