Breaking News

Resign Now - PDP Blasts CBN Governor

Resign now Emefiele
The Peoples Democratic Party of Nigeria has blasted the Central Bank Governor, Mr Godwin Emefiele by asking him to tender his resignation letter honourably following his inability to manage the affairs of the Apex Bank and the collasping economy of the nation for the past five years.

This was said in a press release on Tuesday 17 November 2020 by the party's secretary, John Kolawole who maintained that the CBN boss needs urgent resignation as he has proven to be incompetent in handling and cautioning of financial excesses and recklessness of those under the watch of President Buhari, inability to implement sound economic policies judging from the fact that he (Buhari) had turned a blind eye to corruption which he claimed to fight against.

The Party also expressed its concern over the abandonment of the CBN statustory role under Emefiele's watch to chase shadows by allowing partisanship which has pervaded the government of the day. It also queried the boss on the shameful clamping down of some individual and business account despite courts ruling to disregard and lift such ban.

Moreso, they have condemned the action of the CBN on the freezing of the End SARS Promoter's account, says such could spell doom and threaten our democracy as people yearning for good governance, End Police brutality, and SARS killings are been intimidated and surpressed to silence.

"Such partisan action by the CBN, which had been widely rejected as an act of victimization to economically suffocate Nigerians for calling for good governance, respect for human rights, end to police brutality and manifest slide to lawlessness, is already threatening the stability of our banking sector," PDP said.

With the prevailing economic quagmire our country has fallen deep into, the party therefore, as a matter of urgency advised the CBN to aid the government to create policies that will boost the nation's economy, provide employment and more jobs for our teeming youths across states, and finally resuscitate our productive sectors.

In the case of the naira verses dollar, PDP urges that strategies be deployed so as to equate the value of the fallen naira to dollar which has made the prices of goods skyrocket, posing hardship. At the same time, rising inflation, GDP, reckless borrowing by the present administration should be looked into, the party says. 

Nigerias debt according to the opposition party, has risen to N31Trillion, in addition to the already proposed N5.2 Trillion to be borrowed for 2021 budget making it a whooping N36.2 Trillion debt. "This will plunge our nation into a bottomless pit of economic depression," PDP opined.

Finally, the dearth of direct foreign investment and the scaring away of investors is been brought by the CBN's attitude of partisanship which has led to economic devastation, they pointed.

No comments