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Nairaland Forum / Nairaland / General / Business / Should CBN Governor Not Resign now? (522 Views)
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Should CBN Governor Not Resign now? by Coolcash1: 7:39am On Jan 14, 2016 |
In July 2015, I posted a similar topic on this forum stating my reasons but didn't go down well with some ethnic bigots and economics illiterates. I had argued about the inconsistencies in Most of his policies a reflection of weak consultation and superficial knowledge about the economy. I have watched and patiently studied various policy made under the leadership of the CBN governor (Godwin Emeifele) and how it has impacted on the economy. I have observed policy inconsistency an indication of poor thought-through process followed and how clueless the governor is. He does not havr sound and robust knowledge of the workings, interplay and complexity of economic variables impacting the fiscal and monetary landscape. During the electioneering campaign when politicians almost dollarised the economy, Emefiele, felt the best approach to avert continuous depreciation of naira was to ban payment of dollar to local vendor across industry, peg the amount of dollar to be spent in a year on foreign purchase by individuals to US$50,000, stop dollar deposit and adopt technical devaluation of naira. He failed to realize that the massive release of cash dollar to fund GEJ reelection craftily executed through arms purchase have caused serious leakage in the system. He should focus on blocking the leakage. Obviously, the CBN gov seems yet to figure out how to prevent continuous fall of naira against dollar. It appears the only monetary tool he knows to regulate forex is trial and error which has bastardized our economy. No doubt, the pains of his irrational and inconsistent policies is beginning to bite hard on the economy. Stock market is crashing on daily basis, massive capital flight, stiffing real sector and SMEs. Whilst I do not have any personal vendetta against the man, I am of the opinion that we need a focused, intellectually sound, and competent person as head of the government's bank in order to design and develop efficient monetary tools and policy that will revamp our ailing economy. PMB should act now! cc: lalasticlala |
Re: Should CBN Governor Not Resign now? by HungerBAD: 7:41am On Jan 14, 2016 |
This writer go know book oh. Yes i support make the man comot, i support because it no get as him no go take know about all the money wey Jonathan kpake, for the last days of him presidency. 4 Likes |
Re: Should CBN Governor Not Resign now? by suyamasta(m): 8:32am On Jan 14, 2016 |
Let the man finish wat he started , lets see wia he is taking us to |
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