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Sunday, February 21, 2016

Fallen Naira: DPC advises CBN Governor Emefiele to resign

The Democratic Peoples Congress DPC, has called on the Governor of the Central Bank of Nigeria, Godwin Emefiele, to resign following the declining state of the Naira and the Economy. The party's position is contained in a statement released by the party's Chairman, Reverend Olusegun Peters on Friday February 19th.


"The Central Bank of Nigeria under Emefiele’s watch is confused and overwhelmed by the country’s economic downturn. His trial and error policies in recent times are classical example of voodoo economics, if not economic terrorism. "We demand his immediate resignation and re-organization of the apex bank for effective policy formation and implementation that will stimulate the national economy and steer it on the path of growth, development, advancement and prosperity. "The present crop of top CBN officers are suffering from leadership fatigue and ignorant of effective strategies to evamp the economy and restore the value and dignity of the nation’s currency, naira. "It is time for all patriotic Nigerians to stand up and be counted in the efforts to overhaul the economy and save the naira from further depreciation," the party said.

80 comments:

Faith said...

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Anonymous said...

Who is Genuine in Nigeria?

Senator Ben Murray Bruce turned 60 yesterday, he took the opportunity to launch his book "The Common Sense Revolution" but it's sad to see that the event in its totality portrays the average Nigerian Politician.

Usually, I hate to attend these so called "Big" events but it was Ben Bruce, the common sense guy, I jumped at the Opportunity to go with my department, department of Mass Communication, University of Lagos as we were invited with a letter and we were feeling all important. We didn't know it was an invitation to humiliation.

At the venue, we were told to go upstairs, we didn't mind, as they said that area was reserved for students. Getting there, I realized it was a perfect view to watch the "Elites" wine and dine. Still, we didn't care. We only began to care when the ceremony kept going on and all tables kept getting additional contents and we were just there, like Observers. Don't forget that we were invited, as I said earlier.

While all of that kept happening, I still didn't care because they said every guest will get a free copy of the book. I wanted the book so, I waited on. At the end, only the guests got the Book. I had to look at our invitation to be sure we were guests. Yes, we were guests but the stiff class stratification that Senator Bruce Criticizes came to play.

It's so sad to see that the actions of the Common Sense Guy justifies the "Common Sense is not so common" statement.

Since I know it's all fake, I'd like to give a professional PR advice. It's so bad, if you invite Nigerian Students, who will, to a large extent, determine your political success, to an event only for them to watch you and your rich friends dine. Their votes aren't even enough.

Writing a book about Common Sense doesn't actually make you have Common Sense. We aren't hungry people. We are Unilag Students and we are contented with what we have, we wouldn't go to shop 10 to sweet-talk anyone about common sense, just to get rice.

Happy Birthday, Senator Ben! Thanks for the deceit, segregation and above all, thanks so much for the Palm oil made Jollof Rice with a meat-like object.

I am Abidemi Adesokan, A concerned Nigerian Student who believes there is hope for Nigeria, but Bruce isn't just that guy.

Please Read and share!

Wilheminna Moses said...

Under which emefielie's watch??? Bikonu everything that naija is passing tru now is cos of APC....party ndi badluck

Adaobilinda her sexcellency said...

If that will solve the problem let him resign. The diff is just too too much

Juliet Iwuno said...

Would his resignation help matters??? Linda take note!

Anonymous said...

Resign co resining ni,

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Anonymous said...

dear Nigerians d dollar has been fallen ever since we discovered oil abused it and refused to diversify the economy, u may sack who u want... if we dnt get it right we will continue to face this #bless Check out what this old man did to this baby

michael George (the Fulani Prince) said...

Noted

Eric Nesty aka LIB'S FINEST said...

Okay....



#FINEST

mycheezee.blogspot.com said...

Am in support

naija dj said...

Nonsense! Even if the entire Govt resigns Naira will continue to fall. Our major export that strengthens the Naira has reduced in value and in quantity. Unless we start exporting other things to replace the missing dollar revenue from Crude oil, Naira will continue to fall. End of!

Chop Chop said...

Please, exchange rate is still under N200. Stop buying dollars from mallam

Anonymous said...

Senator Ben Bruce Says No One Should Blame Buhari For The Fall Of Naira...
''Many Nigerians are complaining about the constant fall in the value of the Naira and they blame the Government.
But is the government really to blame?



 In truth, our insatiable appetite for all things foreign is to blame.

I always fly Arik Business Class whenever I am traveling abroad except Arik does not fly on that route.
Not only is an Arik ticket a fraction of the cost of a British Airways ticket, but the money I pay to Arik circulates in Nigeria and helps firm up the Naira’s value.
As I speak to you today, a British Airways Business to London is ₦2,103,666 while Arik Business is ₦551,545 yet our elite still fly BA..

But though Arik offers an affordable alternative to British Airways and other foreign airlines, our big men prefer to pay double what Arik charges to BA and other foreign airlines for the same services and yet they complain about the value of the Naira.

I have Nasco cornflakes and I have eaten Kellogs cornflakes. In terms of nutrition and taste they are almost indistinguishable. Yet our elite who will rather eat Kellogs than Nasco cornflakes, wonder why the Naira is falling!

Even something like Quaker Oats can be substituted with corn meal known locally as pap.Obasanjo Farms of Nigeria and other large scale poultry farms have the capacity to provide chicken for the entire nation. Since that is the case, why are we even buying imported chicken?

In fact what is wrong if every family in Nigeria has a poultry in their backyard to give them eggs and meat?

My steward went to Makoko, which is one of the largest fishing communities in Lagos. He wanted to buy fish and they were selling imported frozen fish!
Yet in the very waters in front of them, there exist fresh fish that is more nutritious than the cheap frozen fish they were selling.
We keep spending over 1 Billion Naira importing rice when our own farmers are capable of meeting our national demand for rice. But for some reason, Nigerians just prefer to buy imported rice.

The imported rice we buy in Nigeria is not as good as our local rice because it has been stored for years in silos and treated with chemicals.
Moreover, every time you buy it, your money is going out of Nigeria to service an economy in Asia. The end result is that their currency gains value while ours loses value.

Have you ever wondered why European Premiership Clubs are so interested in Nigeria? It is because Nigerians spend billions traveling to Europe to watch their games, buy their merchandise and promote their leagues.
Yet, back at home, we would not be caught dead watching our own local league.
If we will not spend money on made in Nigeria goods and services, how can we expect our Naira to hold its value and appreciate?

Obviously we can not cut ourselves off from the world. No nation is an island, but at least we can fly Nigerian airlines, eat locally produced food and patronize our football league.
If we do this, not only will our economy grow and produce jobs for Nigerians, it will also make our goods and services improve in value such that they will be attractive enough to be imported.

I bought Innoson vehicles as official cars for my staff. I have never lived to regret it one day. They are comfortable and durable. But most of all, I know that my purchase helps to keep jobs in Nigeria and improve the value of the Naira.
I urge you to do the same. We have no other country but Nigeria and it is you and I that will make it what it is.
If we buy Naija We Will Grow Naira
My name is Ben Murray-Bruce and I just want to make Commonsense!

TU4N (Thumb Up For Naija) :- FOREX cullage



IT IS OFFICIAL...I love BenBruce!

Anonymous said...

Senator Ben Bruce Says No One Should Blame Buhari For The Fall Of Naira...
''Many Nigerians are complaining about the constant fall in the value of the Naira and they blame the Government.
But is the government really to blame?



 In truth, our insatiable appetite for all things foreign is to blame.

I always fly Arik Business Class whenever I am traveling abroad except Arik does not fly on that route.
Not only is an Arik ticket a fraction of the cost of a British Airways ticket, but the money I pay to Arik circulates in Nigeria and helps firm up the Naira’s value.
As I speak to you today, a British Airways Business to London is ₦2,103,666 while Arik Business is ₦551,545 yet our elite still fly BA..

But though Arik offers an affordable alternative to British Airways and other foreign airlines, our big men prefer to pay double what Arik charges to BA and other foreign airlines for the same services and yet they complain about the value of the Naira.

I have Nasco cornflakes and I have eaten Kellogs cornflakes. In terms of nutrition and taste they are almost indistinguishable. Yet our elite who will rather eat Kellogs than Nasco cornflakes, wonder why the Naira is falling!

Even something like Quaker Oats can be substituted with corn meal known locally as pap.Obasanjo Farms of Nigeria and other large scale poultry farms have the capacity to provide chicken for the entire nation. Since that is the case, why are we even buying imported chicken?

In fact what is wrong if every family in Nigeria has a poultry in their backyard to give them eggs and meat?

My steward went to Makoko, which is one of the largest fishing communities in Lagos. He wanted to buy fish and they were selling imported frozen fish!
Yet in the very waters in front of them, there exist fresh fish that is more nutritious than the cheap frozen fish they were selling.
We keep spending over 1 Billion Naira importing rice when our own farmers are capable of meeting our national demand for rice. But for some reason, Nigerians just prefer to buy imported rice.

The imported rice we buy in Nigeria is not as good as our local rice because it has been stored for years in silos and treated with chemicals.
Moreover, every time you buy it, your money is going out of Nigeria to service an economy in Asia. The end result is that their currency gains value while ours loses value.

Have you ever wondered why European Premiership Clubs are so interested in Nigeria? It is because Nigerians spend billions traveling to Europe to watch their games, buy their merchandise and promote their leagues.
Yet, back at home, we would not be caught dead watching our own local league.
If we will not spend money on made in Nigeria goods and services, how can we expect our Naira to hold its value and appreciate?

Obviously we can not cut ourselves off from the world. No nation is an island, but at least we can fly Nigerian airlines, eat locally produced food and patronize our football league.
If we do this, not only will our economy grow and produce jobs for Nigerians, it will also make our goods and services improve in value such that they will be attractive enough to be imported.

I bought Innoson vehicles as official cars for my staff. I have never lived to regret it one day. They are comfortable and durable. But most of all, I know that my purchase helps to keep jobs in Nigeria and improve the value of the Naira.
I urge you to do the same. We have no other country but Nigeria and it is you and I that will make it what it is.
If we buy Naija We Will Grow Naira
My name is Ben Murray-Bruce and I just want to make Commonsense!

TU4N (Thumb Up For Naija) :- FOREX cullage



IT IS OFFICIAL...I love BenBruce!

Amos Mohammed said...

Is he the president.well,I wont be surprised if Buhari eventually sacked him.

NaijaDeltaBabe said...

Wat fault of it is his?


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Faruk Al-amin said...

So na which one be DPC now

udeze obumneme said...

Abi

alan blessing said...

They should leave the man alone abeg...is he d cause?

NaijaDeltaBabe said...

Wat fault of it is his?


...merited happiness

Adaobi said...

brother m, biko resign and go take care of your house. you are not the problem of the naira. ngwa nezie 'DPC' is now giving you advice. a party am just hearing about for the first time today. come out from there before they bring out all the grey hair on time. Ndi ara

Okowright Balaxy said...

They should rather ask Buhari to resign, because Emefile is not allowed to do his job, Buhari is also the CBN governor. A confused president will only make confused decisions.

Cynberry said...

Its about time! !!
He is supposed to have resigned on his own if he had any iota of self respect

Eddy Ogbunambala said...

Hmmm

ONYX linda ikeji first son GODWIN said...

I'm more surprised bubu hasn't fired him...

ONYX linda ikeji first son GODWIN said...

I'm more surprised bubu hasn't fired him...

Fola said...

Abeg he should resign

Ogbewe Godfrey said...

Noted

Mex Medaase said...

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Ify Chude said...

Wow, this is bizzare!!! Shame on DPC for calling a center bank governor who implement the economy foot print or policies of an administration led by clueless Mohammed Buhari to resign instead of the president and his economy team. This is sentimental and a greater voodoo.

Ogenah Boris said...

If he resigns will it solve the issues

daniela desmond said...

I concur!!!

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Anonymous said...

This is political sabotage therefore emefiele must resign his position as CBN governor before Nigerian witness economic recession

daniela desmond said...

That's better pls...this economy needs to improve

OSINANL said...

Whatever...

OSINANL said...

Whatever...

Michael. said...

This Yoruba,s think they are smart,when okonjo was there nobody was blaming sanusi becos he was APC,now becos a Yoruba woman is there nobody is calling her,correct if I am wrong but is CBN not under finance,and needless y is nobody blaming this incompetent min of finance,becos she is Yoruba.
Emefili is going nowhere after the whole fired is been roundtriped in Lagos by and with their Industries.
They should go to ?.

Joyous babe,Linda ikeji first cousin said...

OK noted.

Anonymous said...

Well said.This man with the help on former president has turned this country to a mess.

golda awosika said...

It's abeg ds man u get bad head, com dey go




#*karlishah*

Oluwa Bukola said...

Lolz. Party seeking attention.





#Linda'spal

joshua james said...

I totally concur he has noting to offer..LINDA OBSERVE CAREFULLY

chyyy said...

Useless people that lack economic foresight. #badluckgovernment#by an old man without vision.

Pearlie said...

Hian!! How is it his fault

Anonymous said...

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Sunday Onoja said...

Lord have mercy!

Maureen Ejindu said...

Is this not indirectly asking the president to resign?

Anthony Sylvanus said...

Noted

Pedro said...

To me I bliv this man is not competent of heading a micro finance bank talkless of CBN,its a big shame because to whom much is given,much is expected but the reverse is the case of this blocked head governor. All they know how to do is to deduct #65 from atm's

Anonymous said...

We the Nigerians advise him to resign. Na by force to destroy the ecomomy

Anonymous said...

Linda please beg this man to go. We have had enough failures since his appointment.bikonu

ATUO ANTHONY said...

Resign for what.

Solomon Chukwuka said...

Hmmmm...better free the man

LINUX ALHASSAN said...

Resigned b4 they sack u

alex Rednaxela said...

When people don't want to call a spade a spade they start beating by the bush. When the President took almost 8 months to set an agenda for the economy of the country, many people were saying he knew what he was doing. Now the economy is suffering from that singular act and people are calling for the head of the man that was there when this same economy was adjudge the best in the continent.

Let him even resign sef, so some people will see he was never the problem.

Anonymous said...

Make all of una dey talk. If you like bring the greatest economist nothing will change as long as dependency is on crude oil. Naira is falling because the price of crude has fallen. That is where all the dollars that backs the economy comes from. Fire anybody and it will be the same result.

Iphie Abraham said...

Is he d reason for d fallen naira? Ddey shud tell d president to resign too






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Anonymous said...

Bios and their stupid blind sentiments. Wake up or get lost.

Pretty face said...

Like seriously, hmmm

Billionaire Wife luxury lifestyle said...

This man have to resign

Vivian Reginalds said...

He shd o ASAP
-D great anonymous now as Vivian Reginalds

Tina Henry said...

This man should truly resign. Infact, lots of people including Adeosun shd resign. What is all these delay na? Do they want us to go into recession?

Anonymous said...

U are a big fool. Go and read about the duties and functions of the CBN and its governor.

Latest Anonymous said...

I need to get out of this country! Tired of d economy.I want out. God help me.

Anonymous said...

No body is asking the finance minister to resign and some are calling on the CBN governor to go as if he is the problem ...... those that voted for change has seen change and they can't take it no more was he the one that told the president to promise 1dollar to 1naira

Anonymous said...

yorubas and wickedness, with their propaganda they caused civil war, all elections they will start shouting. when they do that they will hide. oneday nigerians will pounce on you yorubas.

Anonymous said...

You are igbo & will always type this kind of rubbish. How many times did you as GEJ or Okonjo-Iweala to resign?

Ogbukwa Blessing said...

They should leave the man alone

Anonymous said...

the bitch at my top should know that pmb do nt make economic policies,the campaign to consume and buy more of Nigerian made goods will help reduces the recent economic crises in Nigeria,the Nigerian economic sector should be free of politics and tribalism

Anonymous said...

Ur English is so poor am sure u dnt understand what u v written. Ode

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Anonymous said...

He will b sacked next week after emptying our vault wt GEJ

Joe said...

This Man was there during Jonathan and things was going fine, Buhari and co should go back to drawing board to solve their wahala, even his Finance Minister don't know any thing just Tunubu's puppet

Jude Akinwole said...

I don't think that's the solution but I think a Charles Soludo could do some magic! Not a Sanusi though!

Anonymous said...

When Nigerians where told to embrace cashless Nigeria we took it although it was difficult on us but why will Emefili allow dansuki to withdraw $2.1b in cash of dollars, euro and pounds and he didn't stop it. He printed lot of naira when the president needs it and you still want him there.

Anonymous said...

He sure needs to. This might be the worst mistake ever. Worse than GEJ even.

Unknown said...

You are right,that is the truth.
My country import everything we use and he export nothing......that cause cashflow leakages.