Apparently disturbed by the slump of Naira against the major currencies in the foreign exchange market, a former member of House of Representatives, Bamidele Faparusi, has called for the immediate removal of the Central Bank Governor, Godwin Emefiele.

He hinged his call for Emefiele’s sack on what he described as “poor management of the country’s forex and the fluctuation of the Naira on daily basis since he (Emefiele) assumed office during Goodluck Jonathan’s administration.

Faparusi , who represented Ekiti South Federal Constituency 2 between 2011 and 2015,  said it was quite disturbing that a dollar  is now  being exchanged for N310 in the parallel  market ,  when the official  rate is  N198, due to inconsistency of the CBN’s forex policy under Emefiele.

Speaking in a chat with reporters in Ado Ekiti on Monday, the All Progressives Congress (APC) chieftain expressed dismay that alleged poor handling of the economy under Emefiele’s watch has led to the collapse of many businesses.

Faparusi said he expected the CBN governor, being the head of the country’s currency regulatory body to have acted fast and come up with a standard and sustainable exchange rate, to forestall inflation and unpredictable currency valuation system.

He wondered why the CBN governor has not been able to manage the activities of those he described as ‘black marketers’ stalling government’s efforts at stabilizing the forex policy, thereby causing unwarranted devaluation of naira.

Faparusi said: “Many businesses have been crippled because of the poor handling of the economy under Mr. Emefiele. He has no reason to remain on that seat. He has been running the economy in a trial and error form.  None of his policies had lasted for two weeks.”

Source: The Nation