Beyond Sacking Emefiele, Atiku Has More Shocking Plans For CBN
President Muhammadu Buhari’s main challenger in the February elections, Atiku Abubakar has several plans for the Nigerian economy.
Part of his plans include: selling the Nigerian National Petroleum Corporation, NNPC and sacking the governor of the Central Bank of Nigeria, CBN.
Apparently, he has more plans for the CBN as he disclosed on Monday. He wants to split the apex bank into two.
This is to separate the bank’s supervisory and monetary policy functions.
According to his spokesman, Osita Chidoka, this arrangement forms part of his plans to transition the naira to a managed float.
“Bankers are really conflicted when you put them in the role of regulators,” Chidoka told Reuters, adding that the central bank had not divided sufficiently its supervisory and monetary policy functions as other countries do.
“The central bank is high on the list of agencies that will witness a restructuring to be sure that it is reflective of the dynamics of today’s economy.”
Chidoka also said Abubakar did not think current governor Godwin Emefiele was best placed to continue at the helm given his past record supporting the government.
“He wasn’t independent. You really need a development mindset and an economist ... it doesn’t have to be a banker, it has to be someone who thinks about the economy in a holistic way,” he said.
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