Tinubu’s FAAC boom scam, valueless to Nigerians – Atiku

Former Vice President Atiku Abubakar has said President Bola Ahmed Tinubu’s Federation Account Allocation Committee, FAAC, roar is simply a scam due to the fact that it has not added worth to Nigerians.

Atiku made this disclosure successful a connection by his spokesperson, Phrank Shaibu, which was shared connected X, Wednesday.

He noted that the much-celebrated FAAC “boom” is simply a monetary illusion that collapses erstwhile the figures are tested against currency depreciation, inflation, purchasing powerfulness and the mounting liabilities of authorities governments.

Atiku warned that Nigerians should not beryllium deceived by the spectacle of trillions being announced each period erstwhile the naira successful which those trillions are denominated has mislaid tremendous worth and mean citizens are paying substantially much for virtually everything.

“The arithmetic is brutal. In 2019, FAAC organisation was astir N7.85 trillion, worthy astir $25.6 cardinal astatine the prevailing speech rate. By 2025, FAAC had risen connected insubstantial to astir N21.9 trillion, yet its dollar worth had fallen to astir $14.6 billion. So, portion the authorities parades astir 3 t...