- President Bola Tinubu has criticized the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, stating that the country's financial system was “rotten” under his leadership.
- Tinubu, who had previously suspended Emefiele and initiated an investigation into his office, mentioned that actions were being taken to address the alleged irregularities.
- The president also advocated for the removal of petrol subsidies, emphasizing that it benefited only a few individuals while burdening the nation, and assured the public that measures would be implemented to mitigate the impact of subsidy removal.
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President Bola Tinubu expressed his concerns about the state of Nigeria's financial system under the suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Speaking at an interactive session in Paris, Tinubu acknowledged the alleged irregularities and emphasized that actions were being taken to address them.
He also advocated for the removal of petrol subsidies, stating that it primarily benefited a select few and burdened the nation, while assuring that the government would provide measures to alleviate the impact of subsidy removal.
“Then the financial system was rotten. Few people make bags of our money and then you yourself, you stopped sending money home to our poor parents. Several windows… but that is gone now, is gone. The man is in the hands of authorities, something is being done about that, they will sort themselves out.”
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Tinubu said the subsidy on petrol needed to go because it was making a few people rich. “They thought it was the joke of the century until I called NNPC. We are tired of feeding smugglers, making a few people rich, and subsidising the next-door neighbour,” the president said.
“I met with the president of the Benin Republic today. Everybody is equal now, we are friends. We are conjoined twins joined by the hips, how we will separate each other is with this fuel subsidy. Let us see whether we will survive or not but we are going to survive you.”
The president also said the federal government was working to make provisions that would cushion the effect of the removal of the subsidy. “You want money to increase palliative, transportation. What are you protesting about? Are you sharing part of the subsidy? If you protest, I will join you and protest against it. And they stopped. No protest,” he said. “Palliative we will get but we have to save the money in order to embark on a palliative [measures].”
