PDP Asks Emefiele To Resign Over Perennial Naira Depreciation
The Peoples Democratic Party (PDP) has joined the growing list of those calling for the resignation of
governor of the Central Bank of Nigeria (CBN), Godwin Emefiele over the perennial fall of the Naira.
The main opposition party’s call follows earlier demand by the Nigeria Citizens Action Group (NCAG), a coalition of Thirty-Five (35) Civil Society Organisations for Emefiele to quit office.
The coalition asked the CBN boss to resign with immediate effect to save the country from an imminent total collapse
Early this week however, the Spokesman of the CBN, Osita Nwanisobi noted that those behind such calls were only pursuing their selfish agenda fueled by those who had long benefitted from rent-seeking practices in the parallel forex market, which he refused to recognize as a significant segment of the country’s forex market.
“The CBN would not be distracted in its mandate by yielding to the selfish tendencies of a few to the detriment of the majority,” Nwanisobi said.
But speaking during a media briefing on Thursday in Abuja, the National Publicity Secretary of the PDP, Kola Ologbondiyan said aside his resignation, Emefiele should be investigated over failure to manage the economy.
He said: “The tenure of Emefiele as CBN governor under the APC administration has witnessed colossal failures of monetary and fiscal policies, requiring him to vacate the office and hand himself over for investigation.
“It is instructive to note that when Emefiele took office as CBN Governor in 2014 the naira exchanged for N164 to a dollar. Today, in the hands of Emefiele and the APC, the naira has tumbled to near N600 to a dollar, putting the nation’s economy on its knees.
“Painfully, under the leadership of Emefiele, the CBN has failed in its core mandate of managing the economy and took a dive into propaganda, with claims that do not reflect the harsh economic reality on the ground.
“The PDP therefore urges the EFCC not to allow this revelation to be swept under the carpet as it borders on serious economic sabotage which sanctions are clearly spelt out under our laws, ” Ologbondiyan added.
As at Thursday, the naira is exchanging for N575 to the United States dollar at the parallel market.
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