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Anti-Corruption Group, ANAC Begins Seven-day Protest, Demands Central Bank Governor, Emefiele’s Sacking Over Bad Economic Policies

VICTIM
November 12, 2022

Speaking at a protest march in Abuja, the group's convener, Mr. Vincent Ocheme, described Emefiele as inept, corrupt, and a political governor, bemoaning the CBN governor's numerous failed economic policies, financial mismanagement, and covert embezzlement.
 

The Alliance Network Against Corruption (ANAC) has launched a seven-day demonstration calling for Godwin Emefiele's removal as Governor of the Central Bank of Nigeria.

Speaking at a protest march in Abuja, the group's convener, Mr. Vincent Ocheme, described Emefiele as inept, corrupt, and a political governor, bemoaning the CBN governor's numerous failed economic policies, financial mismanagement, and covert embezzlement.

He also decried Emefiele's various issues, ranging from his illegal political enterprise to the purported purchase of Polaris Bank.

But, according to Ocheme, the proposed makeover of the naira notes was the final straw, characterising them as "childish."

He said, "We and indeed all Nigerians are worried that up to this moment, Mr. President has not deemed it fit to remove the incompetent and political Governor of the CBN who defied all extant laws and dabbled into partisan politics even though it was clear he could not while holding office. By that simple act of lawlessness, Mr. Emefiele did not just deserve a sack but also prosecution because he broke the laws guiding him as a civil servant and threw the credibility of the apex bank in the mud," he said.

"Even after being warned of the consequences of his political moves on the economy, he defied common sense and went ahead in gross contempt of the law and the collective destiny of Nigerians. Allowing people with a questionable character like Emefiele is indirectly calling Nigerians fools and we must not take that.

"Mr. Emefiele had previously failed woefully in stirring the country out of the economic meltdown that characterised the COVID-19 pandemic. His failed policies and sham loan schemes which were politicised and given only to his cronies did not just fail to address issues around an ailing economy but the recovery of such loans is now shrouded in mystery and secrecy.

"Emefiele has failed too many times and to address him as a CBN Governor is an insult to our collective sensitivities. He must be sacked and he should be sacked immediately to pave way for a financial wizard who will save us from this mess he has plunged us into for close to 10 years.

"One wonders if Emefiele had the requisite qualifications to occupy that office at all. His continuous gaffes and the current bad situation of the economy where one dollar is exchanged for almost 1000 naira are a point to reference. While it is no longer news that Emefiele and his gang of thieves are running dollar syndicates and hoarding the currency, Nigerians are saddened to realize that they were scammed when Emefiele went after operators of Bureau du change in the country simply because they were competing with his street gangs and not because they broke any law. This impunity too must stop and Mr. Emefiele must be sacked and made the face the wrath of the law for his broad daylight theft.

"Gentlemen of the press, instead of looking for ways to salvage the naira, the consumer index, inflation and unemployment through sound financial management skills, Emefiele has chosen to play on the intelligence of Nigerians through the childish naira redesign project. This unpopular and unilateral decision does not just embarrass the government and people of Nigeria but smacks of a hidden agenda known only to Mr. Emefiele as even the minister of finance denied any knowledge of the purported redesign.

"Mr. Emefiele is equally fingered in the acquisition of Polaris Bank and others with verifiable evidence to back the allegations. This is a clear case of abuse of power and the code of conduct guiding his office which forbids him from owing or doing any form of business while in office. We challenge Emefiele to respond to Nigerians about allegations bothering on ownership of commercial banks and the fraudulent sale of banks to cronies.”

Hence, the group urged President Buhari to fire and prosecute Emefiele immediately for his inability to manage the country's economy, particularly the exchange rate, which has worsened since the country's inception.
SaharaReporters had reported that Emefiele; the President of African Export-Import Bank (Afreximbank), Prof. Benedict Oramah; among others were under investigation over the $300million the pan-African multilateral financial institution gave to Titan Trust Bank Limited to acquire 93.4 per cent stake in the Union Bank of Nigeria Plc.

Others being investigated are; Aminu Yaro, a Northern business mogul and one Farouk Gumel.

Sources had told SaharaReporters that the Economic and Financial Crimes Commission (EFCC), the Department of State Services (DSS), the Independent Corrupt Practices and other related offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU) are all investigating Oramah, Emefiele and others.