Group petitions CBN Governor to resign, threatens mass protests

A northern youth group – Northern Youth Council of Nigeria (NYCN) – has called for the resignation of Central Bank governor Godwin Emefiele within the next 21 days on the condition that he do something about steadying the nation’s quickly unraveling economy.

The group, though acknowledging their lack of knowledge on economic matters,  said that they were aware that the economy of the country is in free fall, with the foreign exchange rate plunging in recent months. They also called on the President to appoint the best possible technical experts to constitute a task force to fix the economy.

NYCN president Isah Abubakar in a statement on Wednesday noted that collapsing economy and financial markets has increased the rate of poverty rate in recent times from 60 percent to 75 percent, with attendant consequences that have increased the number of impoverished Nigerians to about 120 million.

“After watching with keen interest the present economic hardship in the country, we are saying ‘no thanks’ to the CBN Governor who has not been able to come up with any plan that can take us out of the woods as head of our financial body. We at NYCN, while supporting the administration of President Mohammadu Buhari, are saying we are not happy with his economy team, hence the need to look inward for better hands.

“We now pay as high as about N500 to a dollar. This has brought serious hunger and hardship on our people because most what we eat are imported and have been affected by high foreign exchange. Inflation has increased from 7 percent in 2013  to 17 percent in quarter 4 of 2015 and quarter 3 of 2016…”

“This has shown the total failure of the CBN governor and he has proved his total incompetence to manage Nigeria’s economy. It is to this regard that we demand for his resignation as the CBN governor and urge Mr. President to appoint a competent hand, not minding where he comes from, his ethnicity, or religious background. We only need someone with who can manage our delicate economy.  This is because we demand nothing but a better Nigeria.

“Failure of the CBN governor to voluntarily resign or put the economy in the right track within the 21-day of this ultimatum, will force the NYCN to organize and mobilize mass protests in front of the CBN headquarters in Abuja,”the statement threatened.

The statement however called on All Progressives Congress (APC) led government at various levels to stop playing blame games and to work for people that elected them into varying offices they are occupying, noting that they were voted in to effect positive change the country needed and not to keep complaining.

“We know we are not broke. It’s just that only a few cabals and multinational companies are holding on to it. The time to work is now,” they said

        CBN Governor; Mr. Godwin Emefiele

Source;Sunnews