Business Journal


Buhari May Sack CBN Gov, Emefiele, over Naira Crisis

Godwin Emefiele

President Muhammadu Buhari may sack Mr. Godwin Emefiele, Governor, Central Bank of Nigeria [CBN] over the continued slide in the value of the Naira against major global currencies.

Just last week, Buhari sacked the Director of Budget over lingering embarrassing errors in the 2016 federal budget sent to the National Assembly.

A top chieftain of the ruling APC told Business Journal in Abuja that the party hierarchy was becoming uncomfortable with the failure of Emefiele to halt the sliding value of the Naira, which he said was making the party unpopular amongst Nigerians.

“I can tell you in confidence that top leaders of APC are becoming worried over the Naira crisis, but more importantly, the clear inability of Emefiele to stop the negative trend which is making our party very unpopular across the country. Already, some party stalwarts have begun to discuss the issue of replacing Emefiele as CBN governor if the situation does not improve as quickly as possible.”

The APC official added that Emefiele’s situation is not helped by the fact that he was appointed by former president, Goodluck Jonathan.

The official said: “Our experience so far with those appointed by Jonathan is not really palatable. Majority of them are working for the APC government to fail and that was why the president sacked about 26 of them last week. For Emefiele, we are still exploring the best way out.”

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