Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) has stated that he would replace Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), and float the nation’s currency, the Naira, if he wins February 16 presidential elections.
Bloomberg quoted Atiku as saying that Emefiele is not doing a good job, and that he would appoint a new CBN governor when Emefiele’s first term ends in June.
“I don’t think he’s pursued the right policies. We have to have the right people in there,” Atiku said in an interview.
Under Emefiele, who was appointed in 2014, Nigeria has tightened capital controls and closely controlled the naira’s value. The governor has consistently said this is the best way to curb inflation and revive manufacturing by discouraging imports. The country now has a system of multiple foreign exchange rates, which has been severally criticized.
Atiku said the fears that the forth-coming elections might be rigged are credible. I have never seen, since 1999, a government so repressive and anti-democratic,” he said.
He also accused the President Muhammadu Buhari of incompetence when it comes to running the Africa’s largest economy.
“The president doesn’t even know what’s going on around him. He’s aloof. You can see that he’s clueless in the way the country’s been governed since he came to office,” Atiku said.