By Kelvin Adegbenga
When I first saw the Hashtag #OccupyCBN,
I was wondering if the Unity Fountain has been moved to the Central Bank
of Nigeria building.
When I did my findings, I observed
that those leading the campaigns; Adeyanju Deji and Adelaja Adeoye are known
agents of cabals who have remained persistent in their move to misinform the
public, with the intention of discrediting genuine efforts at managing the
economy, thereby creating public distrust and panic within the financial system.
I remembered vividly that Adeyanju
Deji used to be the mouth piece of the PDP and since all his avenue of making
illegal money has closed especially in Ondo State, he has resolved to become an
overnight activist.
Undeniably, the egocentric
individuals have resorted to the sponsorship of sequential information to mislead
the public on the objectives of the CBN fantastic policies.
I must their sponsored that
Nigerian will stand up against the CBN and the Federal Government if it reverses
the current FOREX policy. The FOREX Policy is aimed at protecting the foreign
exchange, motivate agriculture and manufacturing and also promote exports, so
we are comfortable with it.
Nigerians must know that the present
economic encounters we facing have been worsened by the past administration practice
of squandering huge earnings made from crude oil sales as can be witnessed in
the arms deal under the former National Security Adviser, Dasuki!
The CBN has explained severally that
her decisions on FOREX management are prompted by the challenge posed by the
level of depletion of the country’s reserves, arising from issues such as a
drastic reduction in oil earnings, speculative attacks and round tripping.
Do we need to engage an Economist
for the jobless youths and their sponsors that the pressures on the country’s foreign
reserves have persisted due to a huge fall in the monthly foreign earnings,
which fell from over US $3.2 billion sometime in 2013 to below $500 million per
month sometime in 2016, when the demand for the US dollar, particularly by
importers, continued to rise considerably!
According to a release from the
CBN, the Bank has continued to ensure that there is liquidity and transparency in
the FOREX market. The Central Bank of Nigeria has continues to ensure that
inflation remains within manageable limits; intervene in critical sectors of
the economy, through injection of much-needed capital to promote growth and
employment; promote export-driven industrialisation; provide access to credit
to farmers and small scale entrepreneurs at single digit rates, to create
wealth; protect the interest of Bank customers in Nigeria; and above all ensure
that the masses of our country’s low income earners are protected from the
vagaries of high naira depreciation. So what does that cabal want? Why did they
want to crippled the country; not minding the suffering of millions of
Nigerians?
I am using this medium to call on
the CBN to continue in their policies of monetary and price stability as well as
maintain external reserves to safeguard the international value of the Naira.
It is time the cabals and their
agents contribute to the reliability of the Nigerian economy instead engaging
baseless #OccupyCBN protest which is capable of damaging the determinations of
the Federal Government at moving the country out of recession.
Kelvin Adegbenga writes in from Abuja Twitter @kelvinadegbenga
No comments:
Post a Comment