CBN Boss, Emefiele May Resign Over Buhari's New Policy

 

New reports are suggesting that the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele may soon resign from his position following his discomfort with a latest policy as ordered by President Buhari.

A source told Daily Post on Wednesday that the boss of the apex bank was getting tired of the approach of President Muhammadu Buhari to fiscal and monetary issues.

“There are possibilities of Emefiele leaving the post because of the state of the economy. But the one that unsettles him the most is an order by the president to change the colour of Naira notes,” our source said.

Buhari’s directive is a reminder of his anti-corruption measures as military Head of State between 1984 and 1985.

‘Buharinomics’, as called, was stringently implemented to revive the slumbering banking industry and curb local currency hoarding.

Buhari ordered that the colour of the Naira notes be changed, forcing all holders of old notes to exchange them at banks within a limited period. Daily Post gathered that Emefiele, reluctant to implement Buhari’s instruction, almost tendered his resignation in the past few days but for the persuasion of some prominent Nigerians, including two Bank Chairmen.

The duo were at some point Managing Directors of their respective banks and are from a South-South state. It was learnt that Emefiele at a recent meeting with close friends in Abuja, the nation’s capital, hinted at his desire to hand in his resignation notice sooner than later.

At the gathering, the former Zenith Bank Managing Director, complained that the Buhari-led government was yet to have a policy direction, adding that he needed an idea of what was in store to guide him in his stewardship.