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Managers Of CBN Are Directionless-Atiku

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The presidential candidate of the People’s Democratic Party (PDP), Atiku Abubakar, has described the managers of the Central Bank of Nigeria (CBN), as directionless.

Revered banker and former Managing Director/Chief Executive Officer of Zenith Bank Plc, Godwin Emefiele, is the present Governor of the CBN.

Atiku made the comment at the Lagos Business School 2022 Alumnia Day while making his stance known on a diverse economic issues bedeviling the country.

The former vice president of Nigeria who spoke about his recovery plan for Nigeria at the event said that the current managers of the apex bank are taking a cue from the current administration ”which lacks direction.”

He reportedly stated this while responding to comment on the autonomy of the CBN.

Atiku who also spoke on fuel subsidy noted how the PDP government had phased out subsidy in batches, saying: “I was the chairman for the removal of fuel subsidy committee and I recall how we removed the phase 1 and phase 2 of  fuel subsidy. I will continue from were we stopped, remove fuel subsidy totally and channel the subsidy funds back to the economy. In other words, it’s just a fraud.”

While using the platform to pay tribute to the private sector for the successes recorded by the PDP between 1999- 2007, he added that he would revisit the Orosanye report and ensure the white paper report is in conformity with the principle of setting up the committee in a bid to put an end to the rising cost of governance.

Speaking on privatization, an area for which he had been severally criticized, Atiku said that his plan is not to render people jobless, but to ensure effect governance.

He described Nigeria’s debt situation as a mess, saying he would fix it if elected president.

His words:  “If you are talking about foreign debt, we have done it before, I will engage our creditors and ask for debt forgiveness or cancellation like we did before. Coming to local debt, if we stabilize the economy, we will borrow less, propose a flexible payment plan.

“Again, I want you to compare our records with the current government and you can see who did well economically.”

Promising to ensure proper funding for public education, Atiku promised to reposition the Universal Basic Education (UBE) set up in 1999 to its main purpose which is to reduce out of school children in the country.

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