The Central Bank Governor, Godwin Emefiele, has been advised to focus on consolidating his achievements at the apex bank over the next two years when his tenure will expire.
Uche Uwaleke, a Professor of Capital Market and the President of Association of Capital Market Academics of Nigeria gave the advise while reacting to Emefiele’s future.
Emefiele is currently serving a five-year second term as the apex bank governor with his tenure expected to expire in 2024.
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The governor has been in the news as being interested in succeeding President Muhammadu Buhari in 2023, but he had denied interest in the top job.
On Friday, a coalition acquired a nomination form for his candidacy under the All Progressives Congress.
The governor reacted in a series of tweets on Saturday saying his decision to run for Presidency is a serious one that would require the intervention of God, adding that in the next few days, God will direct his path.
“I think the pertinent question is not whether Mr Godwin Emefiele will do well as President of Nigeria, but whether it is even appropriate for him to join the Presidential race considering his position as the CBN Governor,” Uwaleke told THE WHISTLER.
The CBN governor has for years battled to return Nigeria’s double digit inflation to a single digit as well as solving the problem of naira devaluation.
Inflation is currently at 15.92 per cent, according to the National Bureau of Statistics, while naira trades around N415.8 per dollar at the official market and N590 at the parallel market.
“My candid advice to him is to have a rethink and make up his mind to complete his second tenure. The CBN, an independent organisation which he leads, provides the best platform for him to effect positive changes in the economy,” Uwaleke added.
It is still unclear whether or not Emefiele will contest for the job, but he told his supporters that he is keen to serve and sacrifice for the good people of Nigeria under the leadership of President Buhari.
Uwaleke said, “To be fair, Mr Emefiele, through the Bank’s intervention programmes which cut across several segments of the economy, has contributed immensely to economic recovery.
“The CBN offers him the pedestal to consolidate on modest gains achieved so far. Given that he has some more years to spend at the apex Bank, he should utilize them to bring to fruition the bold initiatives the Bank has taken recently such as the eNaira, Infrastructure Company and the RT200 programme.
“This is the wise thing to do rather than dabble into the murky waters of politics while his tenure has yet to lapse. Nothing prevents him from contesting for the Presidency of Nigeria in the future after serving out his tenure but certainly not now.”