The Coalition for Good Governance and Economic Justice in Africa (CGGEJA), an NGO, has commended President Bola Tinubu for suspending the Central Bank Governor, Godwin Emefiele.
This is contained in a statement signed by Mr John Mayaki, Country Director of the NGO, on Saturday in Abuja.
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Mayaki, who commended the move, said that Nigerians deserve justice for the unnecessary and untold hardship they were made to suffer weeks before the general elections.
He said that the ill-conceived and badly implemented naira redesign policy of the CBN and Emefiele’s role set fire to the credibility of the country’s central bank.
“Mr Godwin Emefiele spearheaded a policy that crushed businesses, instigated chaos and led to the death of hundreds of Nigerians who were denied access to their hard-earned cash.
“People stood in queues to buy naira notes just so they can purchase a meal or essential drugs their children required survive.
“He not only robbed the CBN of credibility but also invited doubts on the integrity of the country’s legal tender and in the process paved way for scammers and other criminal opportunists who preyed on the people’s doubts and fears,” he said.
Mayaki said that Emefiele neglected sound economic principles and public interest in his decision making, therefore raising concerns that his policy choices were designed to favour certain political actors in exchange for their support.
“Emefiele’s refusal to deny his rumoured presidential ambition in a straightforward manner last year, even when campaign vehicles were bought and branded in his name, also gives credence to the allegation.
“In general, Mr Emefiele tarnished the reputation of an institution meant to stand above politics and partisan scuffles.
“President Tinubu should follow the suspension with the prosecution of Mr Emefiele to obtain justice for the Nigerian people who suffered the most from his actions.
“The president must equally do this to restore the integrity of the CBN and prevent such precedents from becoming the new normal,” he said.
(NAN)
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