Browsing: Godwin Emefiele

But talk is always cheap. And in a democracy with its full complement of free speech, talk is even cheaper, in some cases, crass. This is the context to situate the recent poorly choreographed verbal attacks on Emefiele and the CBN. Some Nigerians have blamed him even for their personal failings. Others think he has everything to do with the sudden arrival of the coronavirus pandemic since early last year. Emefiele has been blamed for Nigeria’s dwindling economic fortunes. And you would think he and he alone has the magisterial power to determine the price of crude oil in the international market.

Godwin Emefiele, the CBN Governor, who has shown capacity and pluckiness managing Nigeria’s reserve bank these past years of global cum local  economic crisis, made this announcement on Tuesday, July 27 while presenting a communique from the Monetary Policy Committee (MPC) meeting. He cited unwholesome business practices of the BDCs which run contrary to the rules of engagement thus putting much strain on the naira.