The Coalition of Civil Society Groups has condemned the call for resignation of the Central Bank of Nigeria Governor, Godwin Emefiele, by the Arewa Youth Assembly over the nation’s challenging economy.
The President of the Coalition of Civil Society, Etuk Williams, in a press briefing in Abuja, stressed that the Arewa youth claim that the policies of the apex bank have plunged the country’s economy into comatose is baseless.
According to him, “it is common knowledge that expanding export is the surest way to make Naira regain value”.
He explained that Nigeria gained most of its foreign exchange from the sale of crude oil, adding that the implication of the above fact is that the over-reliance on crude oil which accounts for more than 90% of Nigerian’s foreign exchange determines the value of the Naira.
The official said the argument against the CBN Governor “is false and meant to derail the economic and monetary policies of the Governor.”
He commended “the continuous efforts of the CBN Governor in repositioning Nigeria economy into an export driven one to complement the earnings from the sales of crude oil, to create wealth and employment for the youth through loan, and his recent move to end the dubious activates of BDC operators.”
‘’We condemn in strong terms the call for resignation of the CBN Governor by the Arewa Youth Assembly over an unsubstantiated and frivolous claim that the policies of the CBN has plunged the county’s economy into comatose is laughable and uncharitable. It is unfortunate that some individuals will derive joy in an attempt to pull an achiever down.
‘’We observe the insincerity and question the genuineness of the claim that the economy is bad today by the same people who asserted that President Muhammadu Buhari’s administration inherited an economy that was in a shambles and worsened by a sharp drop in the prices of oil crude at the international market, empty treasury that resulted in the inability of many state governments to pay salaries of worker, depleted foreign reserves, dilapidated infrastructure and long-standing insurgency/internal security challenges.”
Mr Williams praised the CBN Governor for making “outstanding effort to stimulate the SMEs so as to produce goods that can be exported to enable the country increase foreign exchange earnings as well improves the living standard.”
‘’Today we have witnessed massive support and motivation to rice, cocoa, and groundnut farmers with Agric Loans. He has also assisted the manufacturing industries with loans so as to help them produce quality goods that meet the global standard for exportation.”
He alleged that “politicians are exploring the same tactics used against the previous government just to have their way to power by accusing the CBN Governor for plotting to contest for the presidency in 2023 or his connivance with politicians to defraud the Government.”
He enjoined all Nigerians to jettison “the mischievous call for the resignation of the Governor of CBN, as it is the handiwork of evil doers who are committed to destroying every effort of Mr President Muhammadu Buhari and his lieutenants to improve and stabilise the economy.”
“We hereby call on Nigerians to support the Government and also implore the media to use their profession to enlighten the public of the achievements of the Government so as not to allow mischief makers to wrongfully influence the idle and un-informed public,‘’ he stated.