Buhari Defends Emefiele’s Policies, Says They Are Alternative Methods
President Muhammadu Buhari has defended the policies of the Governor of Central Bank of Nigeria, Godwin Emefiele, saying they were alternative methods.
In an interview with Bloomberg, the president said Nigeria should be free to adopt the methods.
On Emefiele reportedly running for president despite contravening the constitution, Buhari said “CBN’s board of directors [is] to determine whether a CBN governor’s actions have fallen foul of the laws”.
“The CBN governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian Senate,” he said.
“Ultimately, it will be for the CBN’s board of directors to determine whether a CBN governor’s actions have fallen foul of the laws in place to ensure he can most effectively carry out his duties.
Buhari said, “there is a subtext to the accusations” against Emefiele and his involvement in politics, stating that the conventional model has failed in the past.
“Because the governor follows a model outside of the economic orthodoxy, he is labelled political. But the orthodoxy has proved wrong time and again,” Buhari added.
“Instead, the governor is following an alternative economic model that puts people at the heart of policy. Nigeria should be free to choose its development model and how to construct our economy, so it functions for Nigerians.”
