Economy: Coalition Berates Groups Calling For Emefiele’s Sack

The Coalition of Civil Society Groups (CCSG) has taken a swipe at groups calling for the sack of the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele’s sack over economic challenges.

CCSG argued that economic challenges are global problems, adding that the CBN governor has performed credibly well.

A statement signed by the president, CCSG, Etuk Bassey Williams, and secretary, CCSG, Ibrahim Abubakar described the statements from some Nigerians as fabricated lies to create disaffection.

According to the group, many cooked-up stories making rounds are mere fiction of the imagination of uninformed group of people who don’t mean well for Nigerians.

The statement reminded Nigerians of the massive impact of Emefiele’s leadership of the Apex Bank on the drastic turnaround it has brought into the economy since he was appointed on his first and second terms as Governor of the Central Bank of Nigeria.

This is just as the coalition totally condemned the report by an online platform that the Central Bank Governor is planning to sell Polaris Bank for N40 billion to one Mr Awwal Gombe, the son-in-law to former Military President Ibrahim Badamasi Babangida, describing it as cheap blackmail, and that the report totally false and untrue.

The statement reads in part, “It is really terrible to hear unfounded comments by some so-called groups that are not really put to cause disaffection among Nigerians.

“Their stock in trade is to cast aspersions on people who are working hard to ensure Nigerians live a better life, which the CBN Governor has been in the lead to ensure Nigerians become employed and entrepreneurs.

“These people are liars who should not be taken seriously by any Nigerian because they are just filled with hate and sentiments who are out to malign the hard-working and committed Governor of the Central Bank of Nigeria with baseless comments that don’t make any sense because they are simply sponsored by some failed politicians who are their paymasters.

“It is very pertinent to state that the economic situation in Nigeria is not just about Emefiele but a global issue as most countries are in economic quagmire including the United States of America, United Kingdom, France, and other developed economies.

“So it is not only Nigeria the economy is biting but it is across borders. But this present Governor of CBN is not resting on his oars but working round the clock with his team to keep the economy afloat since COVID-19 pandemic struck unexpectedly, and there is marginal growth in the economy as businesses are still moving on.

“‘The sharp rise in inflation across both the advanced and emerging market economies has generated growing concerns but Nigerians should understand among central banks as the progressive rise in inflation driven by rising aggregate demands and wage growth has put sustainable pressure on price levels.

“We are all living witnesses following the drastic policies, programmes, and interventions injected into various sectors of the economy under Emefiele’s leadership of the Apex Bank.

“We want to point out salient achievements and impacts made by the workaholic and patriotic CBN Governor;

“The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to vote unanimously to raise the Monetary Policy Rate (MPR) has been sustained even at 13 per cent decision for national interest after two years of not raising it.

“A decision at the right direction to ensure the economy is sustained amidst daunting challenges from the global and local fronts.

“On the value of the Naira, as it concerns foreign exchange, leading currencies are exchanging very low to the US Dollars including the Japanese Yen, Chinese Yuan, Euros, and others.

“The CBN Governor is putting in place measures now to ensure the Naira is strengthened against the US Dollars. So the depreciation of the Nara is traceable to the global economic downturn occasioned by global energy crisis, and the Russia-Ukraine War.

“We are very much aware that those who want to drag the impeccable character and name of Emefiele in the mud are using all manner of falsehood to give him a bad name and hang him.

“That is why they brought the report of the so called sale of Polaris Bank for N40 billion to one Mr Awwal Gombe, a son-in-law to former Military President Ibrahim Badamasi Babangida (IBB). This report by one online platform is not only fake and false but cheap blackmail.

“We therefore totally condemn this falsehood, which is nothing but the figment of the imagination of those promoting it.”

“If not for his foresight and good thinking team he has the Nigerian economy would have been in shambles by now but for the timely introduction of the Anchor Borrowers Scheme and NIRSAL Plc, the nation would have been caught in the web.

“He has been able to mobilize the private sector and salvage the situation, despite the harsh financial state of the country, he also introduced several policies to support the poor; the farmer’s Anchor Borrower Programme that just witnessed the first of its kind of rice pyramid.

“The Apex Bank’s policies and programmes have been so designed in such a way that jobs are being created and fostering inclusive growth.

“In addition, key macroeconomic concerns such as inflation and exchange rate is still sustainable in the country.

“Through his people based policies, Nigerians have been offered numerous interventions and support for Small Medium Enterprises, SMEs and others.