Rewane alleges civil servants reselling FG’s rice for N85,000 per bag

A popular economist and the Executive Director of Financial Derivatives, Bismarck Rewane has alleged that some civil servants bought 50kg bags of rice at N40,000 and resold it at N85,000.
Rewane disclosed this on Thursday in an interview with Channels Television
According to him, the price of rice which he described as a ‘Parallel market’ increased by 3.62 percent to N85,000 from 83,000 despite the government’s subsidized price of N40,000.
This comes as the federal government on Thursday announced the suspension of the sale of 50kg bags of rice to civil servants at N40,000.