PDP wants CBN governor to resign over fiscal policy

The Peoples Democratic Party (PDP) has asked the governor of Central Bank of Nigeria (CBN), Godwin Emefiele to resign, saying the
the economy is in shambles under his watch.

Addressing a press conference on Tuesday, in Abuja, the PDP National Publicity Secretary, Kola Ologbondiyan said Emefiele should step aside and allow “more competent and less partisan hand” to manage the affairs of the apex bank so as to rescue Nigeria’s economy from going comatose.

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“The PDP is constrained in making this demand but given the inability of President Muhammadu Buhari to be decisive on matters of state, we are bound to demand Mr. Emefiele’s resignation to save our fiscal system.

“Our position is further predicated on the fact that a CBN Governor ought to have the competence and courage to offer and implement sound economic policies and check financial excesses, particularly in a situation where the President is not demonstrating a capacity to effectively run a national economy or check corruption and financial recklessness as being witnessed in our country under President Buhari.

“It is very distressing that the CBN under Emefiele, has allowed itself to be bogged down by the repression, corruption and partisanship that pervade the Buhari administration with the resultant plunging of our nation into an avoidable economic recession and untold hardship in the last five years.

“It equally scandalous that the CBN is also engaging punitive freezing of bank accounts of Nigerians for participating in the genuine and peaceful EndSARS protests, at a time it should be galvanizing efforts for solutions to the myriads of economic challenges facing our nation presently.

“Our party therefore asserts that there is no way our economy can be pulled out of the woods under the prevailing situation where the Central Bank under the leadership Godwin Emefiele, has failed to demonstrate the capacity to initiate, articulate and implement policies that will lift the economy, particularly under a manifestly incompetent, parochial and corrupt administration, as we have today in our country,” the party said.