Democracy Day: Emefiele’s Policies Benefited Only The Rich – Economic Expert Says

Idakolo Gbolade, an economic expert, has reacted to the suspension of Central Bank Of Nigeria Governor, Godwin Emefiele, as Nigeria marked June 12 Democracy Day.

He said that the suspended CBN Governor, Emefiele’s monetary policy only benefited the rich to the detriment of the country’s economy.

Gbolade, the Chief Executive Officer of SD & D Capital Management, disclosed this on Monday in an interview with DAILY POST.

According to him, Emefiele’s suspension as the governor of CBN was long overdue.

He expressed displeasure about Emefiele’s monetary policies in the past nine years.

Gbolade noted that the Naira redesign policy, inflation rate, legal tender management, capital investment to Nigeria and foreign exchange policies under Emefiele failed to achieve the turnaround of Nigeria’s economy.

“Emefiele’s policies benefited the rich and hurt Nigeria’s economy and the people of Nigeria”, he said.

His comment comes amid the suspension of Emefiele by Bola Ahmed Tinubu’s administration on Friday evening last week.