PMB MUST SACK THE CBN GOVERNOR NOW IN ORDER TO RESQUE OUR ECONOMY - Dr. Abubakar Adam

If I may ask this question, " what individual is the most powerful economic actor in Nigerian economy?" don't need to tell me that it's President Muhammad Buhari PMB and he is now going around the world in 90 days so that is why we are having economic problem in Nigeria. The answer to the above question is the CBN governor.
The CBN governor has a great power over the money supply and interest rate within our economy in a day to day basis or year to year basis. His powers are not directly limited by the president or the senate. In some ways you can make a case that the CBN governor is the most powerful economic actor in Nigeria, in fact Africa as a whole, since Nigeria is now the biggest economy in Africa.
The current legal framework within which the CBN operates is the CBN Act of 2007 which repealed the CBN Act 1991 and all its amendments. The Act provides that the CBN shall be fully autonomous body in the discharge of its functions under the Act and the banks and other Financial institutions Act with the objective of promoting stability and continuity in economic management. In line with this, the Act widened the objects of the CBN to include ensuring monetary and price stability as well as rendering economic advice to the Federal Government (source CBN)
Based on the above mentioned Act, we can authoritatively said that the past PDP administration of Goodluck Jonathan and the CBN under the chairmanship of Mr Godwin Emefiele should be held responsible for our present economic predicament. The past administration had politicized the position of the CBN and its governor by turning them into its political campaigns fund raising wing of the party at the expense of the overall country's economic interest.
It's a fact that the controversy that lead to the emergence of Emefeile as the present CBN governor was purely political not in the interest of the African biggest economy but for the selfish interest of the past administration, a price we are all bitterly paying for. The devaluation of our currency Naira against the Dollar from #162/$1 to 375/$1 in the parallel market is a clear evidence and results of their treacherous action of politicizing the Apex Bank against the Nigerian economy. Billions of Dollars had been withdrawn for campaign and publicity, some were given for spiritual purpose to devilish politician from our national treasury creating an artificial dollar scarcity in the forex market.
His recent monetary measures are inconsistent creating instability in the forex. Presently investors lack confidence in our economy.
SUGGESTIONS
1. For the CBN to regain its image, the bank and whosoever is in charge of managing its affairs now and in the future should as a matter of national economic interest stay clear from partisan politics.
2. The previous country's loot should be recovered so as to increase our foreign reserve in the Apex Bank. This will make the U.S. Dollar available for bureau de change officials. Its availability will force exchange rate down and the Naira will regain some value in the forex market.
3. The CBN should be governed by a reputable economist who's pedigree and competency can regain investors confidence in our economy locally and internationally. Investors are watching with keen interest the caliber of people charged with responsibility of managing the affairs of the country's economy and they will decide accordingly. If the CBN is run by someone like Emefiele then we should be prepared for the worst in terms of investment, inflation and unemployment in our economy.
In conclusion, PMB and his economic team should as a matter of urgent concern start searching for a new CBN governor to carry out his function as the most powerful actor in Nigerian and African Economy.
May the present incessant economic hardship caused by the previous administration seized.
God bless Nigeria and Nigerian where ever they are!!

Both the CBN Governor and the minister of finance are culpable!!!! He should also remove Osinbanjo a lawyer as the head of the economic team.How on earth does a lawyer head our economic team?

Blame Buhari's economic team not the CBN governor.
Monetary policies comes from govt not from career technocrats.

May the present incessant economic hardship caused by the previous administration seized.

The present hardship was not caused by the last administration!! Wake up dude its almost two years of APC administration!! Buhari has no competent economic management team and should quicly work at getting one

Let him do it now we rose from 20pounds it won't be new

d op must be a primary skool pupil. which kind writting be diss i no understand anytin.
op blaming cbn gov not knowing dat buari dullard n sons dey call d shots for nigeria.

First the said its gej now he is gone next him ministers. Now they are gone. The other it was the citizens Just recently it was ekweremadu. And now its cbn gov. Soon it will be Allah they will blame. I tot the man takes orders from them.abeg na 5 year tenure he dey o

We have the most dependent Cbn team in history. He reports weekly to PMB and the President did not allow them to manage the foreign exchange market the way professionals would. For over a year, the president didn't allow them to float the Naira. Means they kept using our reserves to peg the Naira.

The Southerners occupying the economic sector are disgracing the country. 'Buhari has fixed his in the security sector'. Just economic sector see the mess every where how much more of fixing u pple in the security sector?

If after our education competence locate only north then let the people go and form their own republic so they won't keep messing things up

Ibrahim1975:
The Southerners occupying the economic sector are disgracing the country. 'Buhari has fixed his in the security sector'. Just economic sector see the mess every where how much more of fixing u pple in the security sector?

Rescue your English first.

hopilo:
Rescue your English first.

RESQUE is the same with resque used by francophone

Buhari should sack himself with a gun or a very big stone

Ibrahim1975:
The Southerners occupying the economic sector are disgracing the country. 'Buhari has fixed his in the security sector'. Just economic sector see the mess every where how much more of fixing u pple in the security sector?

Do we have a southern president for the economy? BTW what security did Buhari fix with your fulani kinsmen running amok and niiger delta militants blowing up all available pipelines

Emefiele will regret serving under this administration. He would wish he hadn't taken this job at this time with a recalcitrant overbearing Buhari in power. There would always be scapegoat.