The Labour Party Presidential candidate, Peter Obi on Monday said replacing the Central Bank of Nigeria’s Governor Godwin Emefiele will not address the level of fiscal rascality fueling inflation and other economic woes.
Speaking at the Chatham House in London on Monday, Obi opined that the challenges facing the country’s exchange rate will not go away if Emefiele is removed as the apex bank chief.
Obi also backed Emefiele amid rising inflation, a chaotic foreign exchange regime, high-interest rate, among other glaring economic challenges.
The former Anambra governor urged the CBN governor to maintain his independence and respect, adding that replacing Emefiele will not solve the monetary policy issue.
The LP flagbearer added that replacing the apex chief will not address the level of fiscal rascality fueling inflation and other economic woes.
He said: “People are talking about the Central Bank Governor, first let me assure you that the CBN governor will maintain his independence, he will be respected.
“Again, it is not the problem of the person there. CBN has a role in monetary policy. Then, you have the fiscal ecosystem. It’s like you go to a football match and the person who is supposed to be playing a particular wing is no longer there.
“Replacing Godwin Emefiele and putting somebody else there, with that level of fiscal rascality, which is what is fuelling our inflation and our rate of exchange today… these are some of the things we need to cut”.
Naija News reported that Emefiele returned to the country on Monday morning and resumed office after the expiration of his annual leave.
Upon his return to work, the Department of Secret Service (DSS) reportedly invaded the CBN headquarters in Abuja and took over Emefiele’s office.
Meanwhile, Nigeria’s Secret Service, DSS denied a report of an alleged invasion of Emefiele’s office upon his resumption on Monday in a statement signed by its spokesperson, Peter Afunanya.
Controversies have continued to surround the alleged imbroglio between Emefiele and DSS.
