BMO: Godwin Emefiele is a better CBN governor now than in PDP years

Bloomberg

The Buhari Media Organization (BMO) has expressed surprise that the People’s Democratic Party (PDP) may accuse the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of incompetence and partisanship.


In a statement signed by its president, Niyi Akinsiju, and secretary Cassidy Madueke, BMO said it is shameful that a party that pulled Emefiele out of the private sector and named him governor of CBN could turn around to discredit him for being partisan.

“We find it strange that the old ruling party could descend to the level of using the kind of words that the PDP used in its attempt to tarnish the reputation of someone it considered good enough to run the Central Bank.

“Here’s a man that President Muhammadu Buhari had no trouble retaining upon taking office due to his competition despite the way PDP literally turned the CBN into an ATM for illicit funds back then.

“We wonder what the opposition party knows even about basic economics to conclude that a banker of the stature of Godwin Emefiele is not competent to hold the post of CBN governor and should therefore resign.

“Our approach to PDP is, at what point did PDP come to a conclusion about Emefiele’s competence for the job? Was it when you served in the administration led by Goodluck Jonathan or after?

“Or does the PDP believe that Nigerians have forgotten so quickly how a National Security Advisor (NSA) obtained 40 million dollars from the Central Bank in one night, under their supervision?”

The group noted that under the same CBN government that President Buhari chose to keep in office, the Bank is doing much more than it has in its history.

“We invited Nigerians to compare between a CBN that was the PDP bribery fund’s ATM and that was constantly teleguided by the government, with one that today gives small and medium-sized business owners unlimited access to funds.

“In addition to issuing a directive to commercial banks on a minimum of 65% of the loan-to-deposit ratio, the CBN has paved the way for more than N3.5 trillion in financing to be channeled to manufacturing and agriculture. , as well as personal and household consumption, a first time in the history of the financial mediation of money deposit banks.

“It is also a fact that the CBN has been active in financing development and is giving direct credit for the reactivation of our agricultural sector, which was once in a coma, which has led to the reduction of the $ 23 thousand million that we spend annually on food imports by more than 70%.

“This was mainly under the auspices of the Anchors Borrowers Program (ABP) through which the Central Bank has since disbursed N120 billion to small farmers, especially rice farmers. Today, this has made the country the largest rice producer in Africa.

“For the avoidance of doubt, President Buhari is the only president since 1999 who decided to retain the individuals appointed by the previous administration in office and we will not be surprised if the PDP punishes others for performing better in the same jobs as the old party. ruler considered them competent to “.

BMO urged Nigerians to ignore a party that sees nothing wrong with demonizing a public official they presented to the government for doing their job well.

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