Arewa Youths Oppose Proposed Amendment Of CBN Act

Arewa Consultative Youths Movement (ACYM) has described the move by the Senate to amend the Central Bank of Nigeria (CBN) Act as a recipe for leadership crisis in the apex bank.

The Senate had on Tuesday moved against the CBN Governor, Godwin Emefiele, by passing for second reading a bill seeking to whittle down his powers and remove him as chairman of the board of directors.

The group, in a statement yesterday by its president, Kabiru Yusuf, said the development was capable of plunging the bank into a serious crisis if unchecked.

It said it was therefore important for the senators to drop the idea.

The statement reads, “We make bold to say that the CBN has been enjoying stability under its Governor, Godwin Emefiele.

“It is therefore surprising that our senators, being funded from tax payers’ money, will wake up and take decisions that will end up destabilising the bank.

“This amendment is a clear road to perdition and as ethnic youth leaders across the country, we are calling on our lawmakers to drop the idea. The need to drop the idea is in the interest of the nation’s economy.”