Worried about the untold hardship being experinced by the majority of Nigerians, particularly the most vulnerable, as a result of the poorly executed implementation of the Central Bank of Nigeria’s (CBN) currency redesign policy, the Senator representing Ogun West Senatorial District, Sen. Tolu Odebiyi has called on the federal government to critically review the whole implementation process in order to avoid a breakdown of law and order in the country.
The Senator, whilst expressing deep dissatisfaction with the manner in which the policy was being executed given the increasingly evident suffering that it was causing Nigerians, urged the President to sack the CBN Governor, Mr. Godwin Emefiele for gross incompetence and his poor and ill-judged handling of the Naira redesign policy.
Senator Odebiyi expressed dismay at the unnecessary economic disruption, trauma, hardship and misery that Emefiele’s harsh and unrealistic Naira redesign deadlines were causing the majority of Nigerians at a time when they are already overburdened with dealing with the effects of runaway inflation and fuel scarcity.
A country’s central bank policies should be aimed at furthering price and financial stability in a manner that protects the economy and by so doing the CBN should invariably protect the interests of the good people of Nigeria to freely earn, save, transact business and make payments in their fatherland. Emefiele’s stubborn, egoistic and relentless pursuit of the redesign policy has made it impossible for the average Nigerian to go about their daily businesses, as a result many are going hungry and are becoming increasingly frustrated and angry.
The Ogun West Senator said that it is both unacceptable and unfair for Nigerians to be made to spend hours queuing to access their own hard- earned money.
Sen. Odebiyi implored the President to take urgent and drastic steps to address the impending danger created by the poorly executed CBN Naira redesign policy in order to avoid a national disaster.
SEN. TOLU ODEBIYI, CON