Group Calls For CBN Governor’s Resignation


Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been given a 14-day ultimatum to resign his appointment by a group called ‘The Save Nigeria Anti-Corruption Initiative’ so as to save the Nigerian economy from total collapse, citing various problems attributable to his poor performance and complicity.

The group in a statement signed by Comrade Femi Lawson, Executive Director, and Malam Tanko Usman, Assistant Secretary-General, said it would not hesitate to do everything within the ambit of the law also to see to his investigation, arrest and prosecution by relevant anti-corruption agencies.

According to the group, a critical comparative analysis of CBN Governors preceding Mr. Emefiele reveals that he has the lowest performance index rating due to his inability to initiate and promote pragmatic monetary policy to stem the continuous free fall of the Naira, halt the rising debt profile of the nation or help in the effective management of the country’s foreign exchange.

All which have impacted negatively on the rate of poverty presently put at 71%, unemployment rate erroneously put at less than 9% by the NBS but stands at over 24% and inflation rate though put at a single digit rate of less than 10% but ironically does not reflect the economic reality currently facing Nigerians as the prices of goods and services have more than tripled in the past one year.

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The group also cited;

  • The indiscriminate debiting of customers by commercial banks the sum of N65 after first withdrawal from ATMs other than their banks,
  • The failure to blow the whistle even after the discovery of a lopsided distribution of millions of dollars to promote the off-shore business interest of Aliko Dangote to the detriment of the Nigerian economy.
  • Mr. Emefiele’s role in the misappropriation of over $2.1billion dollars meant for the procurement of arms. “It has never been heard in a sane clime that a CBN Governor would release a whopping sum of over $47million and millions of Euros from the vault of the CBN without due process and worse still is when such action was carried out only by an instruction on a piece of paper by the embattled erstwhile security adviser, Sambo Dasuki.”
  • The continuous free fall of the Naira.
  • The sharp decline in foreign reserves.
  • Unholy romance/sponsorship of PDP campaigns in the 2015 general elections: “It is shocking to us with facts that a CBN Governor could channel funds from the CBN to sponsor the PDP in the 2015 general elections as events presently unfolding with the arrest and prosecution of Sambo Dasuki already indicted him.

The group alleges that records also show several monies released by Mr. Emefiele to choice candidates in PDP i.e. Gov. Emmanuel Udom of Akwa-Ibom State as well as details of his hidden meetings with Bayelsa State APC Gubernatorial candidate in the person of Chief Timipreye Silva at different points before the Bayelsa Governorship election is also an indication that he is a failed CBN governor who mixes professionalism with politics.

It noted that performance in a highly exalted office such as the CBN Governor cannot be better measured by the above indicators most of which currently depict failure.

The ‘Save Nigeria Anti-Corruption Initiative’ laments that the economy of the nation has never had it this bad since independence under a Central Bank Governor.

The multiplier effect of the exchange rate under his watch has caused the astronomical increase in the prices of goods and services which in turn has brought unimaginable hardships on the already impoverished Nigerian citizens.

While pledging to stand with President Buhari’s drive to kill corruption in Nigeria and end impunity, ineffectiveness and mediocrity among government appointees, the group warned Mr. Emefiele not to ignore the ultimatum, else they would occupy the National Assembly, the CBN and EFCC headquarters for a protest match to save the Nigerian economy from the clutches of corruption.

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