PDP, CBN, Presidency in verbal war over $50m forex deals …Garba Shehu threatens legal action

Political mudslinging among political elite continued on Saturday as the Peoples Democratic Party (PDP), Central Bank of Nigeria (CBN) and the Senior Special Assistant on Media and Publicity to President Muhammadu Buhari, Malam Garba Shehu, engaged in a war of words over alleged forex deals running into millions of dollars.

Among others, the PDP accused Buhari, his wife, Aisha, Interior Minister, Abdulrahman Dambazau, Chief of Staff, Abba Kyari, and some presidency officials of engaging in forex deals by getting foreign exchange, especially dollars, on the orders of CBN governor, Godwin Emefiele, at discounted rates and selling same at the black market at exorbitant prices.

The opposition party accused Buhari of withdrawning $23 million for foreign travel expenses and estacode within seven months.

Shehu, who immediately defended his integrity, threatened to sue the peddlers of such rumours.

In series of tweets, the party also accused Mrs. Aisha Buhari of getting millions of dollars through the same channel.

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Using the hashtag, #CorruptionAndBuhari, the party said in the tweets: “Garba Shehu got $800,000 forex at N185 from CBN on the instructions of Emefiele, CBN governor and sold at N350 on the same day.

“A Bureau De Change company linked with General Danbazzau got $6m forex from CBN at N185 and sold at N362.

“First Lady Aisha Buhari got $22m forex from CBN on the instructions of Emefiele and the company sold at N362 same day.

“Abba Kyari, Chief of Staff to President Buhari, also got $400,000 at N185 and sold for N340.

But, Shehu, in his reaction, said: “It is a lie by PDP to say I bought $800,000 from the CBN. I had only two FOREX purchases since coming into government: Eight thousand Dollars (USD 8,000) sent to my daughter and nephews through UBA. This is verifiable.

“I’m not a FOREX trader. The day I choose to start trading in FOREX, I will resign as Presidential spokesman.

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“If I know the coward and psychopath behind the official PDP handle, I will launch a defamation suit against him/her. And I will claim money in millions as damages”.
The CBN also described the allegations as false.

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It tweeted by the handle @UnofficialCBN: “@cenbank never sold dollars at N185 – $1. Devaluations were from N155 to N167 and N197. CBN only does wholesale allocation to banks (Selling dollars to banks at wholesale). Only banks can determine customers they sell to.

“That’s how the Wholesale Dutch Auction System works. CBN does not sell dollars to any individual or group directly. Banks publish final recipients of dollars every week in all major newspapers as directed by the #CBN, so as to promote transparency.

So, the PDP is only being mischievous and silly. What’s the big revelation? How did PDP know how much the recipients sold the dollars in the open market even if they ended up doing so?