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Group criticises CBN governor

30 November 2012, 15:04

Abuja - The Community Action for Popular Participation (CAPP), an NGO, on Friday criticised the CBN Governor Sanusi Lamido Sanusi over a statement credited to him, calling for the sack  of 50 per cent of Federal Government workers.

CAPP in a statement issued in Abuja by Mrs Kyauta Giwa, executive director, stated that the suggestion by the governor is "outrageous and insensitive" coming at a time when unemployment was at its all-time high in Nigeria.

The statement said that Sanusi’s comment was totally at variance with the mandate of the CBN which was to maintain economic stability and ensure full employment.

"Central Banks use instruments of monetary policy to create jobs and not destroy jobs.

"If Sanusi has been unable to achieve the goals for which Central Banks exists in the context of Nigeria he should either resign or keep quiet and not mislead the Federal Government with utterly backward ideas that stop at balancing the books.

"The CBN is not an accounts department of a company that only looks at the bottom line but a government institution that should advise the government appropriately on critical issues such as inflation, interest rates, money supply and how these can be calibrated to achieve growth and generate jobs."

The statement noted with concern that "to call for sack of workers and without any viable and credible alternative or openings where these sacked workers will be productively employed smacks of economic quackery".

"We are of the view that Sanusi has no empirical evidence to support his policy suggestion except that he would like to make headlines and achieve undue popularity.

"As an NGO that works with communities, we know for sure that if the local governments are sufficiently strengthened and staffed with competent hands a lot can be achieved at that level."

It stated that “the final analysis of what Nigerian economy needs at this point is expanding the productive base through diversification of the economy and growing the pie so that every Nigerian will have a share to guarantee decent livelihood”.

It added that Sanusi's panacea could only lead to destruction of communities and families and without any tangible benefit to the economy.

It pointed out that "it is the same Sanusi who is recommending  the sacking of 50 per cent of the civil servants and reduction in the number of National Assembly members, that recently  employed more than 1 000 workers to raise CBN workers’ strength to 6 015 from a former workers’ strength of 5 023".

"Sanusi needs to be called to order as regards the crap he feeds  the public in his utterances, better still, we believe he should concentrate more on his job and do less talking since he does not seem to understand the problems of the country’s economy."



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