The Integrity Youth Alliance on Saturday demanded the
suspension of the Governor of the Central Bank of Nigeria, Godwin Emefiele,
over the depreciating value of the Naira.
The group said
the CBN governor should be suspended because he had disappointed Nigerians and
plunged millions into poverty.
The Board
Chairman of Integrity Youth Alliance, Comrade Adewole Kehinde, stated this in
reaction to reports that the naira had depreciated further, exchanging at N710
against the dollar.
He said,
"For how long will President Buhari and the National Assembly tolerate
Godwin Emefiele's inefficiencies? For how long are Nigerians going to tolerate
him? Can Naira continue to breathe under him?
“Even those who
don't know about the economy now know that the Naira is in tatters under
Emefiele's inept leadership. President Buhari must remove Emefiele from office
because he has plunged millions into poverty and destitution. It’s time for him
to step aside.
"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, the
Naira has tumbled to nearly N710 to a dollar, putting the nation’s economy on
its knees.
"Unfortunately,
under Emefiele's leadership, the CBN has failed in its core mandate of managing
the economy, instead blaming NNPC Limited with claims that do not reflect the
harsh economic reality on the ground."
The CBN has in
recent times come under criticism for failing to stabilize the Naira, which has
continued to dip against major currencies.
However, the
Naira hit an all-time low of N710 to the dollar earlier in the week, attracting
criticism from the opposition.
The Naira has, however, remained stable at N420/$1 on the official market.
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