It's a mystery how Goodluck Jonathan's
appointed Central Bank director, Godwin Emefiele remains comfortably at the
helm of Nigeria's Apex bank. While the processes for his dismissal maybe
somewhat convoluted, they do exist; and one man cannot stand in the way of
the progress and hope of an entire nation, regardless of the conditions of his
enthronement. Nigeria witnessed how Jonathan determined to remove Sanusi by any
means necessary when he went against him. There is no equivalent to day with
Buhari and Godwin, who goes against the nation as a whole.
At the resumption of the Buhari
government, it appeared the new administration recognized the urgency to retire
Godwin Emefiele, but as time went on, while one refuses to believe that
nepotism facilitated it, the Buhari government eased out of a posture
to get him out.
Nigeria thus remains under the
stranglehold of Jonathan's top General. This is not only economically suicidal
but a crime and a sin. Godwin Emefiele is the Dasuki Arms gate. Much of the
funds Dasuki released to buy and bribe looters were taken directly from the
Central bank. Some were released and bullion vans filled with not much more
than hand-written notes. Dasuki cannot be under trial while his partner in
crime, Godwin walks free. This is a joke.
At the height of the Ekiti Fayose
scandal again sits Godwin. It was Godwin's Zenith bank that facilitated the
transfer of the nation's billions to fund Fayose and this was done under the
watch of Central Bank chair, Godwin Emefiele. The examples are unlimited. No
one owns the deadly corruption of the last administration more than Godwin
Emefiele...who remains at the head of the nation's economy. The EFCC and
Attorney General of the Federation and DSS has more than enough evidence to
pursue and prosecute Godwin Emefiele. What they have on Saraki is a joke
compared to the legitimate reasons to suspend, detain and prosecute Godwin
But the problem with keeping Godwin at
the head of the Apex bank transcends the crimes of the past. Godwin is a
threat to Nigeria's economic progress. This is a man who is enmeshed
with the corrupt cabal and puts the cabal first. As the Buhari government
struggles to cap corruption and awaken the economy, Godwin with all his
policies puts the cabal first, tries to extend life lines to them and continues
policies to cripple the masses and irreversibly destroys the economy.
The Central bank's foreign currency
policies are a typical example of where and how Godwin continues to serve the
cabal and destroy the nation's economy. The crash of the Naira is a Godwin
policy. Demand and supply economics leaves Nigeria prostrate to Godwin's
choices to give his cabal friends and partners massive profits as he pulls the
strings on the Naira-Dollar exchange rates.
After much protest and
after astute businessmen like Leo Stan
Ekeh, January this year warned that 99% of Nigerian businesses will fold unless
crippling Forex restrictions are reversed, Godwin reluctantly eased on
restrictions imposed by the CBN. By this time the damage was irreversible to
foreign-exchange dependent businesses especially SMEs, the bulk of employers of
labour. Godwin continued to play games with forex, giving undue advantage to a
handful of cabal who he promised unfettered access to Central Bank rate
dollars, while killing small businesses. Nigeria got ruined and entered a
recession. The masses tried to rise with a No
Banking day to fight Godwin's crippling punishment but the Buhari
government turned a blind ear to the protests by the people.
Finally agreeing to better advise to
devalue the naira, Godwin still fails to properly adjust and regulate the
exchange rate and availability of dollars in the market and maintains a dual
rate longer than necessary, thus allowing his cronies to buy and sell dollars
to make billions from the hustle as he adjusts the strings as he likes, akin to
what the stock market calls "insider trading." How can Nigeria
pull out of this economic recession while the like of Godwin Emefiele, a snake
and corrupt cabal monster remains at the helm of the economy?
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