SDP Presidential Candidate Blasts CBN Governor, Says He Is A Cashier

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The Social Democratic Party’s (SDP) presidential candidate, Prince Adewole Adebayo, has compared the governor of the Central Bank of Nigeria to a cashier.

While answering questions about the Naira during the Question and Answer session about the Nigeria currency at the 4th quarterly meeting of the Nigeria Association of Chambers and Commerce, Industry, Mines and Agriculture (NACCIMA) in Enugu, Prince Adebayo stated that the issue of Nigeria currency is simple, emphasizing that the value of anything depends on its supply.

He stated that if Naira is difficult to obtain, the Nigeria currency will have value, and that the tragedy of the Nigeria Naira is that the government is not diligently accounting for the country’s revenue.

The presidential candidate also stated that when the government intends to spend money, which is where inflation comes in, they give it to their political allies; for example, when there is a need to contract road construction, the government gives it to political party leaders who are their allies, who then contract it to another contractor.

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Prince Adebayo emphasized that this practice allows many naira with no productive value-chasing properties to circulate, resulting in excess naira.

The SDP presidential candidate went on to say that the Central Bank is supposed to be the buffer when the government runs fiscally irresponsibly, but we don’t have a governor; we have a cashier who does the bidding of those in power.

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