Business
2023 Presidency: Current exchange rate is enough for CBN gov. to resign – Babajide Otitoju
Current affairs analyst and seasoned Journalist, Babajide Kolade-Otitoju has knocked the governor of Central Bank of Nigeria, Godwin Emiefele over his insistence to run for president in 2023 while still in office.
Recalled that Emiefele has approached the federal high court on Monday seeking the court to uphold his decision to contest without resigning his position as the Apex bank Governor.
The decision is coming on the heels of several calls for him to resign before joining the presidential race. The CBN governor is yet to declare his intention but has since obtained the 100 million naira nomination form, claiming it was purchased for him by his supporters.
How can you fail to manage the economy in which you are employ to oversee and still claim you want to be president? Babajide asked.
He explained that his presidential ambition is reason for the crisis currently plaguing the exchange rate. It is also one of the reasons investors are running away from Nigeria.
He noted that if the exchange rate is stable and the economy is in good shape, investors will be falling over themselves to come to Nigeria.
What a reasonable CBN Governor should have been doing at this time is to put in place necessary strategies that will shore up the naira and strengthen it against the dollar.
Babajide revealed that in a normal society, the CBN Governor should have simply resigned for failing to manage the economy and its exchange rate effectively.
He reminded Nigerians that Emiefele took over the Apex bank when Naira was 199 to 1USD. But as at today, it is about 576 naira to one dollar. He described it as a shameful record of his tenure that has spanned over eight years.
This particular record is enough for him to resign for non-performance instead of contesting for president. Babajide concluded.