MON. 16 JANUARY, 2023-theGBJournal| Labour Party, Nigeria Presidential Candidate, Peter Obi was at the Chatham House today where he held a conversation on his vision for policy change and institutional reforms in Nigeria.
At the event monitored by theG&BJournal, he spoke to an array of issues including the fate of the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, if elected president at the upcoming general elections.
The question on the fate of the CBN governor going forward has been in the front burners since his implementation of the new Naira notes policy last December. Many have questioned the rationale for the policy, which the CBN governor himself, says has the full support of the President, Muhammadu Buhari.
When the question was raised by an audience member on what his steps will be on Emefiele’s stay as governor when he becomes president, Peter was quick to assure that the CBN will maintain its autonomy, and that autonomy will be respected because ”the problems of the CBN is not the problem of the person there.”
He added, ”I wont say what will happen, his term is actually coming to an end, so it won’t be too long. But I assure you that we will deal with that. So replacing Godwin and putting somebody with the current level of fiscal rascality, which is what is fueling our inflation and even our rate of exchange today, is not the answer,” he said.
He said that the fiscal rascality by government in power has to be cut off, but warned that as government continues on that fiscal rascality route, a situation like we have today at the CBN will reoccur.”
He explained that the Central Bank has a role of monetary policy, and there is also the fiscal space, but the weakness of the fiscal space has allowed the monetary space to take over, and supporting that, is of course the week governance structure. That is why what is happening today is happening.
Meanwhile, Obi responded to questions on legislature given that the Labour Party may not be in control as well as question on the level of agitations across the country.
On the control of the legislature, he said, he has been through that as governor of Anambra State when he was elected and sworn-in, where not one of the 30 members of the State House of Assembly were members of his party.
”As long as one is pursuing what is right, everybody will go with you, because the legislator is secured in his place, he knows that his people are without jobs and that is what he wants, he wants development. What else is he elected to do?”
He said it becomes a problem when one pursues ”transactional policies” which self benefitting or you are engaging in nepotism, ”but you don’t have to worry if you run an inclusive government.”
He attributed the spate of agitation and insecurity in the country to massive poverty where 63% of the population is poor, ”that creates all sorts of problems,” he says.
”So what you are seeing is the cohesive effect of leadership failures over the years which will be solved by good governance. And that is what I and Datti (his running mate) is offering the electorate.”
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