Emefiele destroyed Nigeria’s financial system, says Tinubu

The Nigeria’s President Asiwaju Bola Tinubu has disclosed that the suspended former Governor of Central Bank of Nigeria (CBN), Godwin Emefiele destroyed the county’s financial system while he was in power.

Penpushing reports that Tinubu made the disclosure on Friday, at an interactive session with Nigerians in Paris, France, emphasizing that the country’s financial system was rotten under the administration of the embattled Emefiele.

“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’, Tinubu said.

Penpushing further reports that the President while explaining the need for subsidy removal, declared that it was not sustainable, highlighting the negative consequences of encouraging smugglers and subsidizing petrol in neighbouring countries

‘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 subsidizing the next-door neighbor. 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’, he stated

Penpushing also reports that Tinubu said the Nigerian government was working to make provisions that would cushion the effect of the removal of the subsidy, and hinted at how his government was able to avoid mass protests by labour unions following the removal of the subsidy on petrol.

‘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. Palliative we will get but we have to save the money in order to embark on a palliative measures’, he said

Penpushing reports that it is recalled that following suspension of the former Central Bank of Nigeria (CBN) Governor he has since been in the custody of the Department of State Security Service (DSS), and after his arrest the office of the Secretary to the Government of the Federation said he was under investigation

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