Peter Obi, the presidential candidate for the Labour Party, stated on Monday that removing Godwin Emefiele as governor of the Central Bank of Nigeria will not solve the amount of fiscal rascality driving inflation and other economic problems.
While speaking at the Chatham House in London, he disclosed this information.
He claimed that even if Emefiele is fired, Nigeria’s problem with its currency will persist.
Peter Obi has supported Emefiele despite the economy’s obvious problems, which include high interest rates, an unstable foreign currency system, and growing inflation.
He said, “People are talking about the Central Bank Governor, first let me assure you that the CBN governor will maintain his independence, he will be respected.
“Again, it is not the problem of the person there. CBN has a role in monetary policy. Then, you have the fiscal ecosystem. It’s like you go to a football match and the person who is supposed to be playing a particular wing is no longer there.
“Replacing Godwin Emefiele and putting somebody else there, with that level of fiscal rascality, which is what is fuelling our inflation and our rate of exchange today… these are some of the things we need to cut”.