HomeNEWSEconomic hiccups: Buhari advised to ignore calls for Emefiele’s resignation

Economic hiccups: Buhari advised to ignore calls for Emefiele’s resignation

President Muhammadu Buhari has been advised to jettison calls by the Arewa Youth Assembly to demand the resignation of Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) over the slow pace of the economy.

The National President and Secretary of Coalition of Civil Society Groups (CCSG), Etuk Bassey Williams, and Abubakar Ibrahim, at a press conference in Abuja, described as unsubstantiated and frivolous claim that the policies of the CBN have plunged the economy into comatose.

“We condemn in strong terms the call for resignation of the CBN Governor by the Arewa Youth Assembly over an unsubstantiated and frivolous claim that the policies of the CBN has plunged the county’s economy into comatose is laughable and uncharitable. 

“It is unfortunate that some individuals will derive joy in an attempt to pull an achiever down.

“We observe the insincerity and question the genuineness of the claim that the economy is bad today by the same people who asserted that President Muhammadu Buhari administration inherited an economy that was in a shambles and worsened by a sharp drop in the prices of oil crude at the international market, empty treasury that resulted in the inability of many state governments to pay salaries of worker, depleted foreign reserves, dilapidated infrastructure and long-standing insurgency/internal security challenges.”

“It is common knowledge that expanding export is our surest way to make Naira regain value. It is very important to note that today, Nigeria gain most of its foreign exchange from the sales of crude oil.

“The implication of the above fact is that our over-reliance on crude oil which account for more than 90% of Nigerian’s   foreign exchange determines the value of the Naira, hence the argument against the CBN Governor is false and meant to derail the economic and monetary policies of the Governor. The peddlers of this falsehood are ill-informed or just being mischievous,” they said.

They passed vote of confidence on Emefiele and commended his effort and impact made to keep the economy afloat.

“We appreciate the CBN Governor for making outstanding effort to stimulate the SMEs so as to produce goods that can be exported to enable us increase our foreign exchange earnings as well improves the living standard.

“Today we have witnessed massive support and motivation to rice, cocoa, and groundnut farmers with Agric Loans. 

“He has also assisted the manufacturing industries with loans so as to help them produce quality goods that meet the global standard for exportation”, the coalition pointed.

In addition, williams raised the alarm over alleged moves by some politicians to malign the image of the CBN Governor for personal political gains with sponsored and unfounded allegations.       

“We fear that the politicians are at it again to implore the same tactics used against the previous Government just to have their way to power. 

“Accusing the CBN Governor for plotting to contest for the presidency in 2023 or his connivance with politicians to defraud the Government is most unfortunate, unbelievable and unfounded.

“Unfortunately, the falsehood are too many, on the disbursement of Covid-19 loan meant for indigent Nigeria, it is important to note that the CBN Governor was not involved, as a committee was responsible with direct involvement of ICPC and other ministries.   

“We frown and condemn any plot by any mischievous group or individuals to use and enticement the youths to embark on a campaign of misrepresentation geared towards frustrating the effort of the CBN Governor in his bid to reposition the economy and help Nigerians create wealth and improve on the living standard.

“Finally, we implore all Nigerians to jettison the mischievous call for the resignation of the Governor of CBN. 

“It is the handiwork of evil doers who are committed to destroying every effort of Mr. President Muhammadu Buhari and his Lieutenants to improve and stabilize the economy.

“We hereby call on Nigerians to support the Government and also implore the media to use their profession to enlighten the public of the achievements of the Government so as not to allow mischief makers to wrongfully influence the idle and uninformed public,” he said.

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