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Emiefele destroying Nigeria’s economy – Arewa group



CBN Governor, Godwin Emefiele
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A Northern group, Arewa Youth Assembly has accused the Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele of double dealing and destruction of Nigeria’s economy.

The group in a press statement which was signed by the Speaker, Mohammed Salihu Danlami and sent to CAPITAL POST on Monday in Abuja, described the apex Bank’s governor as a phenomenal failure, saying that the nation would collapse completely if nothing was done to salvage the economy by President Muhammadu Buhari’s administration.

The group said, Godwin Emiefele is the worst thing ever to happen to Nigeria and her economy, much more woes is to come if the needful is not done, adding that Nigerians can no longer condone incompetence and mediocrity.

The statement said: “Emiefele is Januz, a Greek god with a double face, He is a double agent, one with the government, and the other is for his presidential ambition. With the chronology of events and his lopsided and obsolete policies that have plunged this country into further economic quagmire that have brought this giant of Africa down on her kneels.

“I shall take each fact one after the other to expose how capricious and whimsical the CBN Governor has been all this time. With the single aim; Presidency of Nigeria his holy Grail.

“The Central Bank under Mr Godwin Emiefele has performed so woefully that the Nigerian economy that was termed one of the fastest growing entity on the globe before his emergence as governor, is today a mirage and a pity compared to even minor economy in Africa.

“You will all agree with me that before Mr Emiefele took over the apex bank of Nigeria, our Naira, which is our official currency of transactions was exchanging against the dollar for $1 to ₦170 but today, we need no interpretation to tell that it has gone beyond bad.

“Most pitiable is the fact that the naira runs at parity with the CFA, it use to be 1000CFA to ₦365, and by projections, it can only go worst.

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“All this is a result of incompetence on the side of the management of the CBN occassioned by greed, corruption unfriendly policies and the lack of good will to do what is just; the failure coefficient of Mr Emiefele is beyond imagination, yet the government turned deaf ears when there was a public call for Mr President not to reappoint him for a second term in office.

“Today, the fear of many Nigerians are manifesting in how fast the Nigerian economy is taking a nose dive, reasons the rise in inflation is at it all time high.

“Mr Adamu’s explanation as to why Naira is loosing value, tying it to the depreciation in the value of the Naira to the effects of the COVID-19 pandemic on the economy is highly laughable as the pandemic was global yet the currencies of other countries have not lost ground as much as the naira has, no thanks to Mr. Emiefele.

“All the different programs of the CBN has under the watchful eyes of Mr Emiefele been hijacked by greedy politicians and Emiefele’s cohorts who are hell bent on enlarging their already very fat pockets at the detriment of our growth and well-being of the masses, notable amongst these misdeeds is how Mr Emiefele was dishing out BDC licenses to members of the National Assembly.

“Note; these are people who lack the professionalism to do such businesses, dollar is always made available to those individuals just on a call.

“While Mr President is working his sleeves out in the fight against corruption, some supposed lieutenant such as Mr Emiefele are busy aiding it and thereby playing down on Mr President’s effort.

“So sad, the CBN has become the new constitutional project of some National Assembly members.

“The Central Bank of Nigeria (CBN) has failed to submit its audited account to the Office of the Accountant General of the Federation (OAGF) for scrutiny, since 2010 till date, This was confirmed by the Chairman, House Committee on Finance Rt. Hon. James Faleke.

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“Hon. Faleke in an interactive session with the Deputy Governor, Corporate Services Department of the Central Bank of Nigeria (CBN), Mr. Edward Adamu, said the apex bank also failed to remit about N800 billion to the Federal Government.

“It doesn’t speak well of the apex bank that is supposed to be championing proper scrutiny for financial dealings and transactions especially within the finance sector.

“One of the biggest fraud under Mr Emiefele’s leadership is the CBN COVID-19 loan, the governor of the CBN through this loan has seen an opportunity to syphon money in other to pursue his greedy presidential ambition that holds nothing good for this country.

“The hope of all Nigerians is that the E-Naira wallet initiative that is to kick off on the 1st of October, 2021 will actually meet the aim of the initiative and fulfill the expectations of many Nigerians and not a criminal medium to funnel out funds to support the selfish presidential ambition of Mr. Emiefele, as being speculated by many.

“Nigerians now understands the stylish nature of Mr Enefiele and are always ready to pry into his gimmicks and burst bubbles. Our eyes are open in this regards and we are watching.

“A year ago, on July 24, 2020, the Central Bank of Nigeria (CBN) unveiled series of guidelines for the non-interest financial interventions under its non interest loan scheme initiative for Agric-Business Small & Medium Enterprise Investment Scheme(AGSMEIS), Micro Small & Medium Enterprise Development Fund(MSMEDF); the Accelerated Agricultural Development Fund (AADF) and a host of others.

“These scheme attracts a lot of interest from several Nigerians, as millions applied for the scheme following every due procedure; this is over a year and nothing has been said or heard about this scheme from the CBN.

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“The scheme has been abandoned and this is largely due to Emefiele’s now divided attention as what is uppermost in his thought is his Presidential ambition.

“This man is no longer fit to be called the CBN Governor. He should resign and face his ambition squarely, Nigeria and Nigerians cannot be allowed to suffer just for the interest of one man.

“Few days ago, the Academic Staff Union of Universities (ASUU) threatened a fresh strike as a result of impasse implementations of agreed terms with the Federal Government. Again the CBN is in the centre of all the commotion, here as only this week, the Minister of Labour and Productivity, Mr Chris Ngige pointed accusing fingers at the CBN under the leadership of Mr Emefiele as not being able to come up with her audited report that will enable the FG to implement and execute on projects meant to foster progress on all fronts.

“But again Mr Emefiele’s nonchalant attitude is playing a very big role in holding our educational system to ransom. He is not bothered since non of his wards are schooling in Nigeria.

“Such is the wickedness of a man who is nursing a secret ambition to be President of this country.

“Such plan is already dead on arrival and we are calling on Mr Emefiele to resign his position as the Governor of Central Bank of Nigeria (CBN) or face our wrath as we are ready to occupy the premises of his office enmass in a few days from now and stay there permanently until he resign and also carry out world press conferences at the premises of his office daily to relate to the world his level of incompetency and the level of damages he has caused us as a people and a nation”, the statement concluded


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