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Emefiele must resign to preserve CBN’s credibility – Experts

Economic experts at a local think-tank, the Centre for the Promotion of Private Enterprise, have urged the Governor of the Central Bank of Nigeria to resign in order to preserve the integrity, credibility, independence, neutrality, and professionalism of the apex bank.

They said the partisan disposition of the CBN governor had cast doubts over the credibility, independence, neutrality, and professionalism of the bank.

A statement by the Chief Executive Officer, CPPE, Dr Muda Yusuf, said, “The partisan disposition of the Central Bank of Nigeria Governor, Mr Godwin Emefiele, has cast a dark cloud over the credibility, independence, neutrality and professionalism of the Central Bank of Nigeria. It is a troubling development because of the huge reputational risk to the Central Bank of Nigeria and the wider implications for the Nigerian economy. “

He further said that Emefiele’s partisan disposition would likely lead to a questioning of the bank’s policies and erode the investors’ confidence.

Yusuf further argued that Nigeria’s economy is under severe strain due to the pandemic, the war in Ukraine and some policies of the CBN.

He, therefore, asked the CBN governor to do the most respectable thing, which is to resign for the good of the bank and the country’s economy.

“In the circumstances, the most respectable course of action for Central Bank Governor is to resign in order to preserve the integrity, credibility, independence, neutrality, and professionalism of the CBN.  This is also imperative to ensure the trust and confidence of stakeholders in the Central Bank of Nigeria,” Yusuf said.

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