The Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has said the suspension of the CBN Governor, Godwin Emefiele, did not come as a surprise.
Yusuf, an economist, told The Nation at the weekend, that noted that the monetary and foreign exchange policy thrusts of President Bola Tinubu’s administration is at variance with the policy disposition of the CBN under Emefiele, the suspension was just a matter of time.
He said: “President Tinubu was very clear in his inaugural speech about his resentment of some CBN policies such as the multiple exchange rate and the Naira redesign policy. The president also hinted of a house-cleaning plan for the CBN.”
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It is impractical to reform the apex bank and review some of its major policies with Mr Emefiele remaining on seat as governor,” Yusuf said, adding that it is therefore logical that CBN governor be advised to proceed on suspension.
Yusuf explained further that the CBN under Emefiele, had presented a compatibility issue between the apex bank and the present administration, thereby making the parting of way inevitable.
“The truth is that there is a major compatibility issue. The parting of ways was inevitable. Additionally, the brazen involvement of the CBN governor in partisan politics was an aberration and most unbecoming. It was damaging to the credibility of the CBN and the reputation governor himself,” he further said.