Nigerian billionaire, Ifeanyi Ubah has blamed the fate of the naira in responsible government agencies who have failed to respond proactively to the economic downturn.
Ifeanyi Ubah
The Managing Director of Capital Oil and Gas, Ifeanyi Ubah has said the current economic crisis bedeviling the country should have prompted government officials saddled with fiscal responsibilities in the country to have resigned their appointments, according to the Punch.
Ifeanyi Ubah by implication referred to the Ministry of Finance headed by Kemi Adeosun and the Central Bank of Nigeria of Godwin Emefiele of applying only academic fiscal policies rather than practical ones in the face of economic challenges bedeviling the country.
The businessman, speaking on a programme on Raypower FM, on Thursday, February 25, blamed responsible authorities over their inabilities to salvage the economic woes of Nigeria with the masses being the first victims.
He noted that in sane climes, the government officials saddled with fiscal responsibilities should have resigned by now in the face of the current crisis.
This is not the first time Ifeanyi Ubah would be speaking on the economic challenges facing the country, few days ago he restated his earlier stance to improve the value of the Naira, vowing to bring it to N200 to $1 if the federal government would give him the opportunity to become its chief consultant on financial stability.
The business tycoon on Tuesday, February 23, said as a businessman and an economist, he is worried by the continuous fall of Naira and promised to stabilize it within a month, adding that failure to delivery on this promise, his asset worth over N500 billion should be forfeit.