Beyond the suspension of the introduction of N5,000 note, experts have called on the Federal Government and Central Bank of Nigeria (CBN) to apologize to Nigerians.
Cross section of financial experts who spoke to Saturday Tribune in Lagos on Friday opined that the currency restructuring exercise was unnecessary, stating that the policy was borne out of mischief and insensitivity to the state of the economy and Nigerians.
Firing the first salvo, former President, Chartered Institute of Bankers of Nigeria (CIBN), Mazi Okechukwu Unegbu, said it was imperative that the Presidency and Board of CBN apologise to Nigerians for initiating the policy at the first instance, stating that when Nigerians in all spheres of life insisted the policy was ill-advised, they still went ahead unperturbed.
According to Unegbu, who was a former Managing Director of Citizens International Bank, the policy failed before it was introduced, stressing that it was not properlyarticulated.
He advised the President to be wary of its advisers, stating that he should no longer append his signature on anti-people policy.
He took exception to the level of arrogance displayed by the CBN officials while the debate lasted, stating that nobody can take Nigerians for a ride anymore.
"I said from the beginning that the policy was not well-articulated. What did the initiators want to achieve? This would have thrown Nigeria into confusion. CBN should learn to have exposure draft which would allow members of the public to comment freely on an issue before it becomes a policy. When everybody was saying no, they still intend to move forward, In fact, they should apologise for this," he said.
In his own reaction, a finance analyst and university teacher, Dr. Osaro Obabaifoh, put the whole blame on the doorsteps of the President Jonathan.
According to him, the President should be wary of his advisers and economic managers,stressing that appending his signature to theproject was a clear manifestation that President Jonathan is still complacent and pliable.
He emphasized that the CBN governor was working at cross-purpose with the current administration , urging the President to sack controversial advisers who are bent on rubbishing his administration.
Source: Tribune Nigeria
no.i do not think any apology is necessary.they did not try to harm us now,they felt it was d right tin
They really need to apologize for feeling they know what is good for us without seeking our consent or are we not the one that is going to spend the money?